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📣 ALERT! 📣 Utah's Groundbreaking Move for Silver Price and Gold · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Utah just passed some ground breaking legal tender
0:07
legislation. We're talking about 10%.
0:10
This could be the start of something huge in the United
0:14
States for precious metals. We're going to talk about that
0:17
and a lot more. Thank you for being here.
0:19
You are the most important part of Ron's basement.
0:21
Please give this a thumbs up. Subscribe to the channel.
0:24
If you want a piece of silver and gold oriented content every
0:28
day, seven days a week, you're in the right place and you might
0:31
just make some new friends. That's the last time I'll say
0:34
that the whole video What else are we going to talk about?
0:37
The silver and gold price zoomed higher yesterday.
0:41
Why? We're going to look at some
0:43
interesting data in that area as well.
0:46
Also, we've got a little economic doom.
0:49
And our friend Rafi Farber, well, I think of him as a
0:53
friend. Doesn't everybody?
0:54
He's such a smart, nice person. But he put out a little piece of
0:58
research yesterday that turned on, believe it or not, you know,
1:02
you may be about my age. There's a few more light bulbs
1:05
up here turned on a light bulb for me, and I want to share that
1:08
with you as well. But first, let's say happy
1:11
birthday to one of our fellow basement dwellers, Annie Oakley.
1:16
She's been part of the basement Dweller community for a long
1:19
time, a big supporter of the channel.
1:21
Happy birthday to you, Annie. Happy Happy birthday.
1:25
We hope you have a great day. All right, so gold and silver
1:28
zoomed higher yesterday. We would be remiss not to
1:33
mention that we had talked about over the weekend, right?
1:36
That the Chinese market would be opening yesterday, and that
1:40
would likely have a big impact on the demand side for silver
1:45
and gold. And it appears that's exactly
1:48
what we saw. Hey, Annie.
1:49
There you are. Happy birthday.
1:52
Let's go check out our good friend.
1:54
Right. We love this guy.
1:56
Hey, we need to have him join us here in the basement.
1:59
What do you guys say? The Oriental ghost, right?
2:02
He's always giving us this insight from China.
2:04
But it's not just the prices we're going to look at today.
2:08
Look what the ghost told us. Today.
2:10
The People's Bank of China announced data increasing their
2:15
holdings of gold reserves for the 18th consecutive month.
2:20
Right. That's breaking news because up
2:23
to this point it was 17 months. I know I'm good with math, as
2:27
you can tell, but the 17 months was an actual record.
2:32
So now we're at 18 months. The PBOC, the People's Bank of
2:36
China, PBOC, we'll call that from now on, continues to buy
2:40
more and more gold. And hey, since we're here, let's
2:42
just go check and see if maybe, just maybe, do you think maybe
2:47
silver and gold are being sold at a higher price in U.S.
2:51
dollars in China? No, that couldn't be the case.
2:55
Well, indeed it is. If we look at this top line
2:57
here, silver closed $30.54 on the Shanghai Gold Exchange.
3:04
That's the SGE. Silver closed at $30.59 on the
3:10
Shanghai Futures Exchange. What about did I say gold?
3:13
I meant to say silver. Gold closing at 2350 basically
3:18
and 2370. This is in U.S. dollars guys,
3:22
right here on the Shanghai Futures Exchange.
3:25
But we got to mention this as well.
3:28
The bolts of the Shanghai Futures Exchange dropped
3:30
significantly again and hit a new record low since 2020.
3:36
Is that why we had this big move up yesterday?
3:39
Silver had a huge day, right? Gold had a good big gold, a gold
3:44
golden day. Is this why?
3:47
Yes, it's a major component. People are starting to wake up
3:51
in the United States to this. We're hearing the mainstream
3:54
media. I saw an article from ABC News
3:57
the other day about gold demand in China, that China is taking
4:02
control of the gold and silver markets.
4:06
Let's talk about something super interesting that Rafi Farber
4:09
said. He has a sub stack.
4:11
OK, where you can read, you can subscribe, you can donate.
4:15
He puts out some really awesome information.
4:18
I would highly recommend you check out Raffi RAIRAFI, Farber
4:24
FARBER on substack. You can put those 3 words into
4:28
your Google search bar and check it out.
4:31
But he said something that it just it made sense to me like
4:35
never ever before. We talk about this as silver
4:39
investor and and gold investors right?
4:41
Like oh, when would you ever sell gold?
4:43
When would you ever sell you're silver, right?
4:47
We all we recommend, right? Not selling it, not converting
4:51
it into paper money, but converting it into other real
4:56
assets. If we get to that point, and I
4:58
think we will, but I want to use the word if because I don't know
5:02
for sure, nobody can predict the future, but the laws of
5:05
mathematics are certainly on our side that at some point we're
5:08
going to have massive price. Are you ready?
5:11
Are you mentally ready for massive price increases in
5:15
silver and gold? And at that point you want to
5:18
have a plan, right? You're planning ahead by owning
5:21
the silver and gold. But if we do have a massive up
5:24
move, you want to have some type of idea, right?
5:28
Just like you're prepared now by holding the silver and gold, do
5:31
you want to be prepared if you get in a situation where maybe
5:34
you convert some silver into gold, maybe you convert some
5:38
gold into rental real estate property or into land or into
5:42
some piece of machinery that you can use to generate an income
5:45
you always want to convert into other real assets?
5:48
That's not what Rafi talked about.
5:50
Let me read you what he said, OK.
5:52
He said or I said this, don't be or he said this.
5:56
Don't be focused on gold and dollars.
5:59
Be focused on the relative value relative to other things.
6:03
Actually, I said that, he said here yesterday, Gold's up 1% in
6:07
dollars and on the verge of breaking through the 200 week
6:12
moving average relative to other commodities.
6:17
OK, a very rare event. This is very, a very rare event
6:21
that has only happened three times since 2008.
6:24
So I'm going to pull up a chart for you.
6:27
OK. This is a chart of gold you can
6:31
see in the upper left corner to the CRB index.
6:34
And the CRB index is the Commodity Research Bureau index.
6:39
It's a price weighted index that tracks the performance of
6:42
various commodities. And so it tracks all
6:45
commodities. So this chart is comparing the
6:48
price of gold to this index. And as you can see on that red
6:52
line, it's getting ready to breakthrough the 200 week moving
6:58
average, which is a rare event. And what that shows us is that
7:02
gold is becoming more valuable relative to a basket of
7:07
commodities. But why is that important?
7:10
Rafi says the focus should be on gold's behavior relative to
7:14
other commodities, which is what makes it the best money, not its
7:19
value in dollars. And then he says in parentheses
7:22
though this obviously is also important.
7:25
It's it's a big mistake to confuse a gold bull market with
7:29
a commodity bull market. People are way too hyper focused
7:34
on gold in dollar terms. But it's gold's behavior
7:38
relative to other commodities that makes it good money, right?
7:43
When we see gold, and we've talked about that before guys,
7:46
you know that that that you always want to track the value
7:49
of your silver, the value of your gold, count it in ounces,
7:54
but then on top of that, don't value it in dollars.
7:58
I used to coin shop Chris, right?
8:00
A good friend of the channel. I met him, he sent me an e-mail
8:04
of the first e-mail he ever sent me was of a head of lettuce at
8:07
his local grocery store for $5. He's like, Can you believe this?
8:12
And we joked around because silver was like $20.00 an ounce
8:16
at that time And I said, yeah, so an ounce of silver is worth 4
8:20
heads of lettuce. Are you kidding me, Right?
8:23
Would you trade an ounce of your silver for four heads of
8:27
lettuce? No.
8:28
But would you trade an ounce of silver for a truckload of 5000
8:33
heads of lettuce? Maybe if you like salad or have
8:38
a rabbit farm, or think that you could get rid of them, sell them
8:42
to a grocery store or something else.
8:44
The point is, you want to value the metals relative to other
8:49
real things. The lettuce is just an example.
8:52
You can use barrels of oil. You can compare gold and silver
8:55
to each other. Thank you, Craig.
8:57
Hold on one second here. If it goes, let's see what he
9:00
had to say here, Craig. Yeah, you're up on the screen,
9:03
my friend. If it goes to a dollar again and
9:06
I could buy a dollar's worth of stuff, I'll be happy.
9:09
Yes, very interesting. Thank you.
9:11
Thank you for the Super chat. And our friend Chris Dubois.
9:16
Uh, oh, hold on. What am I doing here?
9:19
Here we go. All right.
9:21
Hello, Christopher looks like a grandson playing basketball
9:25
there. Thank you for the Super chat as
9:27
well. That's how we want to value and
9:30
you always want to keep. And that's what Rafi is saying.
9:32
The value of gold is most importantly measured against a
9:36
basket of other commodities. So as that index breaks through
9:40
that 200 week moving average, that can be very super bullish
9:45
for the price of silver and the price of gold.
9:48
Thank you, Rafi. I hope you don't mind that I use
9:51
some of your expert analysis on my live stream this morning.
9:54
Don't forget you can check out Rafi Farber Substack.
9:56
Put in Rafi Farber substack into your search bar.
9:59
OK, Utah, Oh my gosh, I can't believe I I owe you an apology.
10:05
I should have led with this story.
10:07
Utah passes ground breaking silver and gold legislation.
10:12
This could, right? This could be the beginning of
10:15
something very big for us silver and gold investors.
10:19
Maybe we want to move to Utah. I think maybe after you hear
10:22
about this, you may indeed be packing up.
10:26
Why don't we all move to Utah, huh?
10:27
I wonder if they have basements up there anyway.
10:32
Could be the start of something huge for silver and gold.
10:35
All these pieces are coming together for the silver and gold
10:39
market. It's super interesting.
10:41
Let's go out to our friend Mike Mahari at the 10th Amendment
10:45
Center. He was a guest here in the
10:47
basement at one point. Really a smart guy.
10:50
Really a great guy. There it is right there, the
10:52
10th Amendment Center. Let's read this.
10:55
Here we go now. In effect, now in effect, Utah
10:58
law authorizes state gold and silver reserves.
11:04
I don't know if this is the first maybe, maybe Tennessee,
11:07
but this is a huge, huge piece of information.
11:11
On Wednesday, a Utah law creating a process for the state
11:14
to invest in and hold precious metals in reserve accounts went
11:19
into effect. This sets a foundation for the
11:23
Beehive State. You learn something new in the
11:27
basement every day. So do I Utah apparently is
11:30
called the Beehive State to achieve more financial
11:32
independence. And I don't know, maybe we don't
11:35
want to move to Utah if we're going to be chased around by
11:37
bees all the time. Take a small step toward
11:41
undermining the Federal Reserve's monopoly on money.
11:45
Here's the raps that put this through.
11:47
That's great. Governor Spencer Cox signature
11:52
and the law went into effect on May 1st whole.
11:55
This is where it gets interesting.
11:56
Holding gold and silver will allow the state of Utah to
12:00
shield its assets and hedge against rapidly depreciating
12:02
Federal Reserve notes. Adding gold and silver in
12:05
reserve could also create a pathway for Utah to maintain
12:09
financial independence should the US dollar collapse.
12:13
A very real possibility as the world moves away from the
12:17
greenbacks as its reserve currency.
12:19
A press release. All right, now.
12:22
Now then, we're going to talk about why this is such a huge
12:25
deal for US gold and silver investors.
12:28
We'll position Utah to weather the economic turbulence and
12:31
inflation resulting from decades of federal fiscal recklessness.
12:37
That's a mouthful, but that's true.
12:39
Federal fiscal recklessness, Gold and silver had been the
12:42
best rainy day investments since NOAA.
12:45
That's the part. Oh my gosh, you got to love it.
12:48
This was in a press release. The best silver and gold have
12:52
been the best raining day investments since NOAA.
12:54
I'm going to use that in the future.
12:56
And when I say I can't remember where I read it, somebody please
12:59
remind me. Utah, Utahns.
13:02
Utahns. I guess those are that's what
13:04
we're going to be called when we're up there running from bees
13:07
with piles of silver and gold in our hands.
13:10
We're going to be Utahns. No, a nation cannot print
13:13
prosperity. Sound money is the key to a
13:16
sound economy and real sound wealth.
13:18
This is where it gets interesting.
13:19
Under the new law, the state treasurer is authorized to
13:23
invest up to 10% of certain funds in silver.
13:28
Gold. Yes, Neil can move to Utah with
13:32
US platinum, copper or Palladium.
13:37
The following funds qualify, the state Disaster Recovery Fund,
13:41
the general Fund. Wow, that's the big one, I
13:43
think. Income Tax Fund and the Medicaid
13:46
Growth Fund. The new law requires the
13:50
treasurer to conduct a study analyzing the role of precious
13:54
metals and augmenting. I think that means helping,
13:58
stabilizing and ensuring the economic security and prosperity
14:01
of the state, the families and residents of the state, which
14:05
might be you and I. I won't mention us moving to
14:07
Utah again during this live stream, live stream and the
14:10
business in the state. Are you ready to move to Utah?
14:17
I bet honey. I bet honey's cheap up there,
14:20
honey. Right, Buttercup?
14:21
I like to call you guys buttercup.
14:22
The bees are going to be chasing you around up there, but you're
14:25
going to be in a state where you can hold 10% of your wealth in
14:29
silver and gold. Now, I want to talk about two
14:32
things, #1 Utah was one, as I understand, one of the first
14:35
states to pass any form of legal tender legislation.
14:39
So now they're passing this law that allows 10% of the state's
14:43
wealth essentially to be invested into silver, gold and
14:47
other metals, other precious metals.
14:50
That's number one. So they've led the country with
14:53
legal tender legislation. Now, are they leading the
14:55
country with this? And what kind of demand could
14:59
this potentially create? What if all the states wake up,
15:03
right? Right.
15:04
Like the Costco people are waking up?
15:06
What if all the states? What if half the states?
15:08
What if ten of the states wake up?
15:12
What is that gonna do for the demand profile of silver and
15:16
gold? Thank you Ron McAdams for the
15:18
Super Chat. That's super awesome, you guys.
15:21
I appreciate all the support. So that's where it gets very,
15:25
very exciting for us as silver and gold investors.
15:29
I know right now today as we're talking right now live Daniel
15:34
Diaz and from the Citizens for Sound Money and Patrick Holland
15:40
from the Missouri Freedom Initiative are in Jefferson
15:43
City, MO working diligently right the the Missouri legal
15:48
tender legislation has passed the Senate I believe it is and
15:51
is now in going in front of the house.
15:53
These guys are working right and Missouri's the center of the
15:57
country. The only thing better than Utah
15:59
doing this would be if Missouri right?
16:01
The heartbeat of the country. Saint Louis the Arch.
16:05
That's why they built the Arch. You probably don't know that
16:07
it's the magnetic center of the country.
16:11
Is the Arch made out of silver? Have you ever asked yourself
16:13
that question? I'm not gonna let you in on that
16:15
one. You have to come here and find
16:16
out for yourself. None the less, Citizens for
16:21
Sound Money are working diligently and they've worked
16:24
all throughout the country. If you want to donate to them,
16:26
they are a not-for-profit, a not-for-profit.
16:29
Go in there right when you're done looking up Rafi Farber put
16:32
in Citizens for Sound Money. Their website is Citizens, the
16:36
number for sound money and you can make a donation.
16:39
They would appreciate it. OK, Like I said, it's a
16:42
not-for-profit organization. Mainstream media.
16:45
Did we? We wished Annie Oakley happy
16:47
birthday again. Happy birthday, Annie Oakley.
16:50
Mainstream Media encouraging people to sell gold.
16:54
What? What?
16:56
What? What?
16:57
Hold on here. Uh oh, here we go.
17:01
Let me bring you back from our friend.
17:05
A Gold Star, right? This is also a sub stack run by
17:11
our friend John Little, Big John Little at the Pickaxe.
17:15
And so it begins. Western mainstream media
17:17
tricking people into selling their gold before it goes five
17:21
times higher. Gold's going five times higher.
17:24
Let's see, That would be a little under $12,000 based on my
17:29
mathematics, I think we like that, don't we?
17:32
Over the past decades, the mainstream media narrative,
17:36
especially in the financial news, has often portrayed gold
17:39
as a shiny rock or a barbarous relic, dismissing its values and
17:44
investment. So now, now, and are you
17:46
noticing this? You will start noticing a shift
17:49
from bashing gold. Interesting to sell your gold.
17:53
They can't just trick us about bashing it anymore.
17:59
Now they want you to sell your gold.
18:00
Don't fall for this sneaky trick that goes for you basement
18:03
dwellers. You can convert your gold.
18:05
Let's talk about that. Look, I'm not telling you what
18:08
to do. I'm just giving you my opinion.
18:10
But if I if I were going to either sell gold to get Unicorn
18:14
fart dust paper money or I could convert it and I don't even know
18:19
what the race the gold to silver ratio, but I would convert gold
18:22
into silver, take one ounce of gold into a coin shop and walk
18:26
out with four tubes of American Silver Eagles and probably some
18:30
other miscellaneous. Don't take Fiat for that change.
18:34
Make sure if you're going to take Fiat, you get a
18:36
constitutional silver. But that's what I would do.
18:40
Hey, sell your gold to the government and take your 37%
18:43
profit. Then John goes on to talk about
18:46
this guy Luke Grohlman talking about a $20,000 per oz call for
18:49
many reasons. OK, all about that.
18:53
All about China and bricks. We're not going to dive into
18:56
that now, but the point here is, and are you seeing it?
18:59
Where was I the other day? I was driving home from my mom
19:01
and dad's house going down the highway and I counted 3.
19:06
I was in Saint Charles County, Missouri, 3 billboards.
19:11
One was an electronic one. But I counted 3 signs that said
19:14
we buy gold, we buy gold, we'll buy your gold.
19:17
And I thought I just had a feeling like people selling gold
19:22
for cash is a bad idea anyway. But these kind of, I hate to
19:25
say, rinky dink. Rinky dink operations are
19:29
probably taking full advantage of people when they come in
19:33
there with their gold to sell. So don't sell your gold, guys,
19:37
please. If anything, convert it.
19:40
Unless you need money, right? Unless you need money for some
19:42
reason. Let's talk about silver.
19:45
This is one of our favorite Smartest analyst investment
19:51
advisors, Jamie Carrasco. OK, I love this guy.
19:56
Right? He's a senior investment advisor
19:57
and portfolio manager with Canaccord.
20:00
How do you say that? Genuity Financial.
20:02
Nonetheless, he had something super interesting to say about
20:05
Silver. Don't forget, OK don't forget
20:09
India and their love for silver slippers as of late.
20:13
My favorite asset class. So if I are you reading that the
20:17
way I am? Our friend Jamie is telling us
20:20
that Silver is his favorite asset class.
20:23
OK, we'll skip over the Agnico Eagle earnings comment.
20:27
He said to be lucky enough. All right, we're lucky.
20:31
You feel lucky? I feel lucky that you're joining
20:33
me here in the basement. It is a big deal.
20:35
OK, Super Chats, subscriptions, and what's oh thumbs up are much
20:40
appreciated. But are we all so lucky?
20:43
We're all lucky to be together. I'm telling you, there's a lot
20:45
of nice people in the chat. If you subscribe to the channel,
20:48
you're able to chat. You can make some friends.
20:50
We are lucky guys, but we're not just lucky because of that.
20:54
We're lucky enough to be to live through the interesting times of
20:59
another currency shift. That's what's happening right
21:02
now. DE dollarization, right,
21:06
Idenomics, it's working, right. We are living through a currency
21:11
shift while speculating with history that gold is in the mix
21:16
again, and yet only 1% of global wealth is suitably positioned to
21:22
ride it out. By the time the price of gold
21:24
finishes rising to where it has to to replace the US dollar in
21:29
global trade settlement, that settlement silver.
21:33
Are you ready for the silver news will have moved
21:36
exponentially more. That means if silver goes up by
21:41
5X right, like the Gold Star article said, gold.
21:45
If gold goes up, I'm sorry, by 5X, like the Gold Star article
21:49
said, then silver could likely go up by 10X15X20X.
21:54
Who knows, right? Let's just look at this one real
21:56
quick. To the moon, Alice.
21:58
All right. This one is from Oofi.
22:01
He says reports of Chinese investors stockpiling precious
22:05
metals are making waves in the financial world.
22:09
Whether it's gold or silver, the trend highlights a growing
22:12
appetite for tangible assets amid economic uncertainty.
22:18
Economic uncertainty? What are you talking about,
22:21
economic uncertainty? Well, if you want to be ahead of
22:23
the curve, ahead of the Chinese, let's go out and check out our
22:28
friends. Pinbex, let's do a check on the
22:30
gold price. OK, we're down 9 bucks, silver,
22:33
down $0.13 after yesterday. We can handle that because we
22:38
know the Chinese will come back in.
22:40
But if you want to get your hands on some gold, silver,
22:42
platinum, group metals, right, we talked about being lucky
22:45
earlier. I feel lucky to have Pinbex as a
22:48
sponsor. I've bought metal from them at
22:51
least five, probably 6 times over the last year.
22:55
I have always been happy I worked with them before I took
22:58
them on as a sponsor. Actually, one of you told me
23:01
about Pembax. You know that story?
23:03
I get e-mail after e-mail from people telling me that they
23:07
bought Silver, Gold, Platinum from Pembax.
23:09
How thrilled they are. So if you want to join that
23:13
group of people, I'm not telling you what to do.
23:15
I'm just making a recommendation.
23:17
You may benefit from throwing Pinbex into the mix next time
23:22
you want to buy some gold, silver, or platinum online.
23:24
And if you ever decide that you want to convert part or all of
23:28
an individual retirement account into precious metals, check with
23:32
Pinbex as well, Right? Check.
23:34
Check around. See how much actual metal and
23:36
what kind of metal you're getting for your money.
23:39
I found with Pinbex I always get more metal for my money, and
23:44
that is important to me, right? We want to make sure we're
23:48
getting the Real McCoy and you are the Real McCoy.
23:53
Thank you guys for being here today.
23:56
Ceasefire or no ceasefire, I don't really have an update.
23:59
I don't know what's going on in the Middle East except it seems
24:01
like absolute world turmoil. And don't forget, guys, don't
24:07
forget, right. Silver and gold are the safe
24:11
harbor during times of geopolitical uncertainty in the
24:16
world. And we are at a period of it.
24:19
It's it's happening right, the shift away from the dollar,
24:22
whatever. However, Jamie Carrasco said it
24:25
right this, this monetary shift is happening.
24:28
But even more importantly, we're in a period right now of more
24:32
geopolitical turmoil than anytime I can confidently say
24:35
this than any of you have been alive.
24:37
Some of you may be old enough, probably not to really remember
24:41
World War 2, right? Very few people alive right now
24:46
remember. And it feels like we're on the
24:48
cusp of another major world conflict.
24:51
Gold and silver are your safe haven during these times.
24:55
And I'm trying to follow what's going on in the Middle East last
24:58
night. And I didn't really honestly
24:59
have a chance to check on it this morning.
25:01
But it's like, well, there's a ceasefire, but there's not a
25:03
ceasefire. And they may say they're
25:04
accepting it, but they're, I mean, it's crazy not to mention
25:08
Europe, the Ukraine. That's not getting any better,
25:12
right? We're getting the Russians are
25:14
bombing, like the military headquarters of the Ukrainian
25:17
military. Now, it's it's not a good thing.
25:20
OK, let's talk about some economic doom, right.
25:24
A little piece of doom. You want some bad news?
25:26
Well, you're in the right place. Welcome to the basement.
25:29
Let's let's look at some bad news going on right now in our
25:33
world. This lady is the bomb.
25:36
I think she worked for the Fed, if I remember this correctly.
25:39
At one point she tweeted there were 115,000 job losses in the
25:46
month of April, which was seasonally higher than that of
25:50
January. And again, we're about which
25:53
we're about 22,000. So we're definitely seeing an
25:56
acceleration in job cut announcements.
26:00
All right. Now where it gets interesting is
26:04
when you consider hold on here. Somebody's trying to get a hold
26:07
of me. Hold on guys, this might be
26:09
urgent. This might be urgent, OK, no,
26:13
it's not OK Where it gets in, the US may already be in a
26:17
recession. Its job cuts accelerate.
26:19
Research CEO says this comes from our friends at the Business
26:22
Insider. the US economy may already be mired in a recession,
26:27
Danielle Dimartino Booth told Bloomberg TV.
26:31
Downside labor revisions and rising job losses indicate a
26:35
downturn has hit, the Qi Research CEO said.
26:39
She argues that by one unemployment indicator, A
26:42
recession was triggered in October of 2023.
26:48
And this is the reality of what's going on in the job
26:52
market right now. Good jobs engineer jobs at
26:56
Google, right? Amazon.
26:58
Big high paying good jobs. Jobs that pay over 100K per year
27:02
have awesome benefits. Heck, they even get like free
27:05
food and massages at some of the well they used to at these tech
27:08
companies are going bye bye. OK, right.
27:11
What kind of jobs are being created right?
27:14
Jobs that don't pay that much and likely a lot of them don't
27:18
have benefits. Right?
27:20
I got news for you. If you drive for Uber, I don't
27:22
think you get health insurance, right.
27:24
If you deliver whoppers for what's that thing?
27:28
Dime, dash or whatever. I just cannot believe that
27:31
people get fast food delivered to their house.
27:33
But nonetheless, I don't think those people get benefits.
27:36
OK? The economy is slowing down.
27:39
What's going to happen? What's going to happen?
27:41
I think we need to get him out just for one quick second.
27:44
He wants to say hello and we're going to get him out in just one
27:47
second. We're going to talk about what's
27:49
going to happen when he freaks out to the silver price and the
27:53
gold price. Let's say thank you to channel
27:55
sponsor first Mining Gold. Oh boy, I almost forgot.
27:57
Hold on guys, I need to put this up.
28:01
Here we go. All right.
28:04
First Mining gold Canadian gold developer with two multi million
28:07
ounce projects in Canada. You can learn more about them at
28:10
First Mining Gold or you can talk to a real life human, Paul
28:14
Morris. I'll put his e-mail address in
28:16
the description of this video. He's a great guy, wonderful to
28:19
talk to. He'd love to talk to you about
28:21
what's going on at First Mining Gold.
28:23
And tonight, after the close of the market, we'll hear from
28:27
Fortuna Silver their first quarter earnings report.
28:31
I think it's gonna be very, very interesting.
28:34
Two good things are going on at Fortuna, right their their
28:37
production of silver and gold are robust, but we've got this
28:41
rising precious metals price environment.
28:44
And during this quarter, the second quarter, which were darn
28:47
near approaching halfway through, Fortuna could be in the
28:52
position to generate an unbelievable amount of cash
28:55
flow. OK, Where was I?
28:59
Oh, where was I? Darn it.
29:01
There was something I was going to tell you guys about.
29:03
Oh, my gosh. You want to see a grown man cry?
29:09
A grown man get get confused, Right.
29:12
I can say happy birthday to Annie Oakley again.
29:15
Darn it. What were we going to look at?
29:16
We had some great, great, great stuff to look at.
29:19
Oh, yeah. Sorry.
29:21
Yeah, I'm 54. You know what it's like.
29:23
We start to get a little rusty upstairs, This guy.
29:27
OK, look, jobs are going away. Jobs are going away, good paying
29:34
jobs. People are getting laid off and
29:36
some of these people like are getting laid off from these big
29:38
tech companies like, well, I can't find another job.
29:41
It's so hard out there they nobody wants to pay ME150K and
29:45
can let me get free lunch and dinner and massage and my heart
29:49
goes out to anyone who lost their job.
29:51
But nonetheless, this guy, OK, yeah, him I think.
30:00
And I went out on a limb and made this prediction not too
30:03
long ago. I really think that in the next
30:06
six months we're going to start to feel some significant
30:10
economic pain. We know they're cooking up some
30:12
kind of second mortgage program to in it and it's basically an
30:17
attempt to stimulate the economy.
30:20
They know it's coming. OK.
30:21
I think we're in for some very rough times.
30:24
When it hits, Jerome is going to freak out, OK.
30:29
They don't want the whole system to crash.
30:31
They're all beholden to it. Only thing they'll be able to do
30:35
is print, turn the printer back on, press the press the key
30:39
button to create more money, which will further accentuate
30:43
the downward slide in real value for the US dollar.
30:48
What we care about is real value as we hold things like silver
30:53
and gold, right? And the real value of the metals
30:56
will continue to appreciate. Mathematics shows no forgiveness
31:02
on the altar of truth. Do you know what that means?
31:05
Right? I've heard it said other ways,
31:07
right? Not even God can change the fact
31:10
that 2 + 2 = 4. Just because the United States
31:14
is the biggest country in the world doesn't mean that we need
31:17
to subscribe to the natural laws of mathematics.
31:20
And if you have anything, right? Anything, right.
31:24
If let's say you had a big pile of silver, right, And you were
31:28
able, and it's worth a certain amount, a great big pile, you
31:31
have all the silver in the world.
31:33
And if you were able to magically double that just by
31:38
pressing a button and poof, now there's twice as well, guess
31:41
what? That silver would be worth half
31:43
as much, right? Because its scarcity would have
31:47
would have gone down. The same thing is true with
31:49
these things. Gonna make sure I pull out the
31:52
right one, right? Imagine all of these in the
31:54
world. And then imagine a button that
31:56
can get pushed And what 40% were were printed during the during
32:01
the C19 crisis. Guys, these are basic laws of
32:07
mathematics that apply to silver, that apply to gold, that
32:11
apply to oil, that apply to dollars, that apply to anything.
32:17
If you increase the supply, right?
32:20
Guess what, They're not as scarce.
32:22
They go down in value. But I got some good news for
32:25
you. All right, we want to remember
32:27
this one's right at the tip of your nose.
32:29
My nose as well. They can't magically increase
32:34
the supply of platinum or silver or gold.
32:39
That's why if you hold some of those metals right, you hold
32:42
something that's valuable. Our friend bald guy Money says
32:45
it himself, right? He calls an ounce of silver.
32:48
Like a value battery, right? It's sure it conducts
32:52
electricity like nothing else on the planet But this ounce of
32:55
silver, This one right here from Big Tim the Silvershire, I mean,
33:01
right? This.
33:02
Guess what? When he gave it to me, it had a
33:04
lot of energy in it, a lot of value energy on it.
33:07
And you know what? It was about 7 weeks ago.
33:10
It's still there. And in real terms, this has
33:15
actually gone up in value a bit since then.
33:18
Hopefully he's not going to want it back from me, right?
33:20
He's going to be, hey, remember that ounce of silver Ron I gave
33:23
you? It's gone up 15 times.
33:27
Could you mail that back to me? All right, guys, thanks for
33:29
being here. Thanks for being part of Ron's
33:31
basement. Don't forget, check out our
33:32
sponsorspinbex@pinbex.com first. Mining Gold and Fortuna Silver.
33:38
Have a great day. Thank you so much.