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📣 WARNING 📣 SILVER Price Market BREAKS - (Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Hey guys, welcome to the basement, Welcome to the live
0:04
stream. We have massive news today to
0:06
talk about in the silver market. Have you noticed how weird the
0:10
silver? Market's been lately, we're
0:12
going to go get a price update here in a few seconds, but very
0:16
weird behavior. Are we going to learn today the
0:19
reason why I think we are, there's a lot going on gold
0:24
market as well. We're going to cover that.
0:27
We have a big warning, right? We got a big, big, big news
0:31
coming out tomorrow that could massively impact the silver and
0:35
gold market. But should we be real concerned?
0:39
We'll be concerned short term, but should we be concerned about
0:42
this big news tomorrow? Tomorrow.
0:46
Right, we got big news, biggest news ever for the silver and
0:49
gold price. We'll break that down as well.
0:52
And some shocking news about gold.
0:55
We'll cover that. But first, $90.00 silver, right?
1:00
We're going to get to that because guys, we are near a
1:03
Cliff. We are near a breaking point in
1:07
the silver markets in this paper market, and I've got some
1:10
research that I'm going to share with you from a new analyst who
1:14
I'd never heard of. That paints a very grim picture
1:19
for the silver market. But first, before we go there,
1:22
let's just have a friendly reminder that when the economy
1:26
crashes and we don't want it to happen, but we can, we can, we
1:30
can observe what's going on around us, right?
1:32
Basement dwellers. When the economy crashes, the
1:35
silver price and gold price are going to.
1:39
Far exceed any expectations that we might have.
1:42
And what proof might might we have?
1:44
We're going to briefly cover this before we dive deep into
1:47
this $90.00 silver. But what proof do we have that
1:52
right now things are crashing in the economy?
1:56
This comes from the Kolbisi letter on X Breaking News.
2:00
Kohl's, You know Kohl's, right? Stock falls 25% after
2:04
unexpectedly reporting a net loss of $27 million in the first
2:09
quarter. Revenue came in lower, down 5%
2:14
year on year. The company also lowered their
2:17
two and two. Now, why is Kohl's important?
2:20
Why is Red Lobster important? Why is Buffalo Wild Wings?
2:25
Yeah, we're going to talk about Buffalo Wild Wings.
2:28
Why are these all important, right?
2:30
The company lowered their guidance for this year, They
2:33
said, the CEO said, quote, we recognize we have more work to
2:37
do in areas of our business and here.
2:40
If you own Kohl's stock, which I don't 'cause I just, I have all
2:44
my money in precious metal mining stocks.
2:48
I'm diversified amongst the number of companies, but yeah,
2:51
all my money's in precious metal mining stocks, Kohl's stocks.
2:54
Look at that. Not a good morning to own Kohl's
2:58
stock, but. Why is this important?
3:02
Kohl's. Think about Kohl's.
3:04
You ever been to Kohl's? I got one a mile from my house.
3:07
OK, it is middle. Middle.
3:10
It's the middle of middle America, right?
3:13
Rich people don't shop at Kohl's.
3:15
Middle class people shop at. Kohl's.
3:18
Now me personally, I do a lot of my shopping on eBay and the
3:22
Goodwill store, which is even closer, right?
3:24
I'm not ashamed to say it. I'm wearing some really nice
3:27
shorts right now. Hang 10 probably $80.00 shorts.
3:30
I got them for $3 at Kohl's. They were like brand new.
3:33
I wear them all the time. My mom's like I really like
3:36
those shorts and it and I know it irks her when I say thanks
3:39
mom. I got them at.
3:40
I got them at the. Goodwill Store.
3:42
None the less. Kohl's is middle America.
3:47
OK, here's Here's a typical night for a middle class family
3:51
in the United States. Saturday night.
3:53
Hey honey, let's take the kids. Let's go to Kohl's, buy a couple
3:57
new shirts and some clothes for the kids, whatever, you know?
4:01
And then when we're done, we'll go to Red Lobster and have
4:03
dinner, right? It's payday, it's Friday night.
4:06
Let's have a good night out. No more, right?
4:09
Those people that used to go to Kohl's and then to Red Lobster,
4:12
they can't afford to put the gas in their tank.
4:14
They can't afford to make their their home insurance payment.
4:18
They can't afford to make their car insurance payment.
4:20
They can't afford food at the grocery store, right?
4:24
So maybe now they're not going to Kohl's.
4:26
Is it making sense, Right. Somebody needs to tell this guy.
4:32
Remember him? It's been a whole week.
4:34
He misses you. Do you know who's in here?
4:36
Who knows Who's in here? Who knows?
4:39
Yeah. OK, somebody needs to tell this.
4:41
Joker. That everything's not good out
4:45
there, OK, And it's not just there.
4:47
OK, the next one, here's a prediction and then we're going
4:50
to get the $90.00 silver. OK, the market, the the silver
4:54
market, the paper make believe Unicorn fart does silver market.
4:59
It's happening. OK, I don't have a crystal ball,
5:03
but I believe it's happening and we're going to dig into why it's
5:08
super interesting. The next one, though, let me
5:10
make a prediction. The next company you're going to
5:13
hear that's going to go bankrupt and have trouble.
5:15
I'm not. I'm not trying to spread rumors,
5:17
but I'm telling you, this is the next one on the chopping block
5:21
is Buffalo Wild Wings. My kids love that place.
5:24
I got to take them. Today is their last day of
5:25
school. They get home at noon.
5:27
They're like, can you take us to Buffalo Wild Wings?
5:29
It's kind of a tradition. They're the next one, OK?
5:31
They're kind of like Red Lobster, like upper scale,
5:35
middle class dining, right? And guys, it's not it's like
5:39
it's like Red Lobster. Every time I go there, I feel
5:41
like it's today's buy one, get one free, which is why I'm
5:44
going. I only go to restaurants when I
5:46
have a coupon or I can get a buy one get one free deal.
5:49
OK. And we will get one soda and we
5:51
will secretly all take drinks out of it when the waiters not
5:54
looking, but none the. Less.
5:55
I digress. I'm just being honest with you.
5:58
Middle America can't afford this.
6:00
Crud I mean. If I want to take my family to
6:04
Buffalo Wild Wings on a Friday night when they don't have the
6:06
buy one get one free, you know what?
6:08
The bill could easily be close to $100.
6:11
Especially when my wife wants her own soda.
6:14
I mean the nerve. OK, Buffalo Wild.
6:18
Wings. Look, I'm not making stock
6:21
recommendations, but I'm just telling you they're the next one
6:23
to go. OK, now, now.
6:29
It really broke my heart. And we're going to talk about
6:31
bass pro And you can subscribe if you
6:55
want. Silver and gold content every
6:57
single day for the rest of your life.
6:59
OK, now, now, now. Where was I?
7:02
Oh, yeah. Yeah.
7:05
So it really broke. Well, OK.
7:06
Yeah, I know. I'm.
7:07
I'm a tight wad. I'm different.
7:09
That's fine. I take it I've always gotten
7:11
grief. They had all kinds of nicknames
7:13
for me in college. One of my, we'll call it
7:16
previous relationships before I met Susie, which has been the
7:20
best thing that ever happened to me.
7:21
But none the less, one of my we were, we were parting ways.
7:25
I guess you would say we had, we were parting ways.
7:28
And the last thing she said to me was, and you know what?
7:32
I'm so sick that every time we went out to eat you had to use a
7:35
coupon. And I was in shock and she was
7:38
walking away and I said good riddance, goodbye.
7:41
I knew better days were coming. So anyway, the next one, let's
7:46
talk about quickly. One more sign.
7:48
This is a. This is like total sign that.
7:50
The the economy. Is going to go down.
7:52
Down, down, down, down, down, boys and girls, be ready and
7:55
silver and gold are going to go. Up, up, up, up, up.
7:58
Because that little guy in the box I showed you a few minutes
8:00
ago, he's only has one. Thing that he can do.
8:04
One way, the only thing he knows how to do and that is print
8:07
money, liquidate the economy. You better hold on to your
8:11
shorts wherever you got them, the Goodwill store or Kohl's, I
8:15
don't care. Hold on to them.
8:16
Because when that happens, the silver and gold price are going
8:20
up, up, up and away. Finally, let's listen to what
8:24
the CEO of Bass Pro Shops. Now Bass.
8:27
Pro Fox business. Here we go.
8:29
Bass pro shops CEO right? This is a Missouri company.
8:33
I know them very well. They started in Springfield, MO.
8:36
I also you got to. Think I'm a negative guy, but
8:39
hold on a minute here. Did I put that on?
8:41
I forgot to add that up. Hold on you.
8:46
Left me. OK, here we go. bass pro shops
8:49
CEO me make sure we're not getting noise interference.
8:53
Hold on. All right, we are.
8:59
This I tell you what the. Hold on here.
9:03
Hold on. close. OK, Now you guys can hear me.
9:09
Sorry about that audio interference.
9:10
Now here, the CEO of bass pro shops, Johnny Morris, Johnny
9:15
Morris said the brand will focus on affordability amid rising
9:19
cost inflation. Is here.
9:22
You think so, Johnny? Huh.
9:25
He says. Johnny, founder of bass pro
9:27
shops, says inflation is very real.
9:30
The brand will focus on affordability.
9:33
OK, now we don't even need to read all this, just all a bunch
9:37
of more, more, more inflation talk.
9:40
We know. We know what's going on.
9:43
Think about bass pro shops quickly.
9:45
I'm not putting. I love to fish.
9:47
I'm a Missouri guy, all that good stuff.
9:48
But guys, bass, have you ever been to a bass pro OK.
9:52
I'm telling you, it makes my blood pressure go up when I go
9:55
into the bed. They have free Santa Claus at
9:57
Christmas. That's the only reason I ever
9:59
went to bass pro Everything is overpriced, OK.
10:20
And those people that came and they, they don't, their Bass Pro
10:24
shops are kind of there's like one or two in every big city.
10:27
I think there's two in Saint Louis now anyway, right?
10:30
People make a special trip to come to Bass Pro.
10:32
I'm going to go to Bass Pro. They can tell their friends and
10:35
a lot of people from the country.
10:37
Nothing against that. I love people from the country.
10:39
But they come to Saint Louis to go to Bass Pro or go to
10:41
Springdale, go to Bass Pro, going to go to Bass Pro.
10:44
Everything's of it's like an indulgence gone right.
10:48
They can't afford the gas to get there.
10:49
They can't afford the prices when they do get there.
10:51
This is. All happening in real time.
10:54
Kohl's. The big RL Red Lobster bye bye
10:58
right Bass Pro saying, well, we're having some problems
11:01
because our typical customer can't afford to buy our
11:05
overpriced stuff anymore. It's happening.
11:08
It's happening in real time. Let's get into.
11:09
This. Let's get into the meat of the
11:11
matter, $90.00 silver. I want you to think, what do
11:14
you, how do you feel when I say $90.00 silver?
11:17
How do you feel when I talk about the OBMA, the London
11:21
Million Market Association over there in London, England, that
11:24
they're going to get their butts handed to them real soon, right?
11:28
Real soon. I'll tell you what I'll give
11:30
you, I'll give you out here. Let's take a look at this first.
11:33
Well, no, let's not. Let's get, let's just get into
11:35
the meat. But then I have something to
11:36
show you this. The London Million Market
11:38
Association is on thin ice, I'm telling you.
11:42
All right, where was I? Here we go.
11:45
Did I already do this one? Oh, yeah.
11:47
OK, So this. Oh, yeah.
11:48
Let's get back here. The silver price, guys, is
11:52
absolutely volatile right now. We need to talk about that
11:56
silver. You ever?
11:57
Been in one of. Those relationships when you
11:59
were younger, maybe middle school or high school, maybe
12:02
even as an an adult. Had a boyfriend or a girlfriend
12:05
and they like loved you one day and then didn't like you the
12:09
next day and then loved you the next day.
12:11
And it's like, what is going on here?
12:12
That's what it's like investing in silver right now, right,
12:16
Right. One day we're up $1.50, the next
12:19
day we're down $0.80. You look at the price one minute
12:22
it's it's up $0.25 and you look at it 48 minutes later and it's
12:27
down $0.49. I mean, it's absolutely.
12:29
That's called volatility. Two big key.
12:32
Things, OK, number one, Number one, OK, as long as the trend is
12:38
the as long as the UPS in this volatility are exceeding the
12:43
downs, that's still a good thing.
12:44
That's still a bull market for silver.
12:47
And guess what, basement dwellers have you noticed?
12:50
That. That's been the case, the UPS.
12:53
You know, higher highs and higher lows, however you want to
12:56
say it, the trend is your friend.
12:58
The trend is going uppity, uppity, uppity.
13:00
It's a bull market still right now in silver that volatility.
13:05
So if we're going to have big up days, that's volatility.
13:10
We're also going to have big down days, but as long as the
13:13
net effect is an upward. Trend the net when we add.
13:16
It all together. Is an upward trend.
13:18
We are still in good shape. OK.
13:22
The other big, big deal about the silver volatility is that it
13:27
indicates major stress. I talked to Coin Shop Chris last
13:31
night. He said you gotta stop
13:32
whispering. Sorry, I'm gonna keep
13:34
whispering, 'cause I yell and I whisper.
13:38
I'm sorry. I just the way I am.
13:40
But guys, here's the deal. All this volatility means one
13:43
thing big stress in the electronic exchanges like the
13:48
London Million Market Association.
13:51
In the comex. Big, big, big, big stress.
13:56
And we're going to dig into some details here in a second about
13:59
that. And that means, right, Andrew
14:01
McGuire, I heard him say it like six weeks ago, right?
14:05
This, this Comex, this LBMA might only be around, he said.
14:10
People were saying years, he said it could be.
14:12
Months. And why do I listen to Andrew?
14:15
McGuire number one. I was a guest on his show, and
14:18
that guy knows more about the inner workings of the LME and
14:21
the LBMA and the COMEX than anybody else out there.
14:24
Let me tell you something, Buttercup, why you should listen
14:27
to Andrew McGuire also, right? This Andrew McGuire that's
14:30
talking about the stress in the LBMA and the COMEX, because back
14:35
in January, he was talking about before anybody knew it was going
14:39
on. He was talking about how the
14:41
Indians in India, those Indians. Were accumulating massive
14:47
amounts of silver and putting major stress on the physical
14:50
silver market. And then we learned right three
14:54
months later that, Oh yeah, India imported 120 million
14:57
ounces of silver in the first quarter of the year.
15:00
So we will listen to Andrew McGuire.
15:01
Could it be weeks? I don't know.
15:03
Let me show you what happened yesterday.
15:05
Let's have some funny. You want ready for a funny?
15:07
Do you guys have these where you live?
15:11
We've got millions of these suckers.
15:14
I caught this one yesterday. Those are my fingers right
15:17
there. I'm not afraid of them, right?
15:20
But I picked him up and I said, how much longer you going to be
15:23
around? These are these cicadas and
15:25
they're like madding. They climb on you.
15:27
They make a unbelievable amount of noise.
15:30
And this one had comex written across his forehead.
15:33
And I said. How much longer you going to be
15:35
around? He said.
15:36
Just a few more weeks. OK, not by that.
15:43
Let's get into this as promised. As promised, this guy is new to
15:48
me and we're going to talk about why I think we can get this
15:52
$90.00 silver. David Jensen, OK, he has a sub
15:57
stack. This is unbelievable information
16:00
that he's sharing with us about silver, but let's briefly talk
16:04
about what he says about gold as well.
16:07
In August 2011, the LBMI published it's Alchemist
16:11
magazine, the result of its survey of members gold trading
16:15
in the City of London market, the world's largest and dominant
16:19
physical gold and silver market, representing more than 90% of
16:25
daily global Spot gold and silver trading 90%.
16:30
I did not realize that what this report showed with less than 2/3
16:35
of LBMA members responding and further conservative assumptions
16:40
was the daily gold trade turnover was 10 times higher
16:46
then the LBM as published monthly clearing data.
16:50
That's very important to remember.
16:51
They publish monthly clearing data, but that doesn't represent
16:56
the amount of actual physical metal, gold and silver that's
17:00
trading. It could be materially higher
17:03
than 10X. OK, now let's go to silver.
17:09
OK for March? 2024 the LBM as clearing data.
17:13
State the average daily silver clearing volume is 292,000,000
17:17
oz OK average daily silver clearing volume almost 300
17:23
million oz per day using. The 10 times.
17:27
Multiplier yields an average trading turnover of almost 3
17:32
billion ounces of silver per day.
17:37
He reminds us, as we often talk about basement dwellers, annual
17:41
mine production of silver in 2024 is estimated to be a little
17:45
over 800 million. So average trading turnover in
17:50
London of 3 billion. That means they they, they have
17:56
almost four times per day. The amount of silver traded per
18:00
day four times as is produced all year by mining companies.
18:05
It gets better, guys. London trading consists of
18:08
approximately 90% spot or immediate ownership trading in
18:12
the cash market, of which spot contracts are simply unallocated
18:18
promissory notes with no specific metal backing.
18:23
What is this telling us? Daily spot cash trading of
18:26
silver in London can thus be estimated at 2.63 billion oz.
18:32
This is where it gets even a little more interesting.
18:35
OK, commodity markets. Open interest or standing total
18:39
market claims typically run between two and three times the
18:43
daily traded volume using a two time multiplier.
18:46
Open interest immediate ownership claims.
18:50
These are people who think they own it.
18:51
In London, 4 silver is estimated at 5.6 billion ounces in March.
19:00
Using a three time multiplier, that same number goes to almost
19:04
8 billion ounces in March. Think about that.
19:09
Now remember that eight billion, 5 billion oz.
19:13
The LBMA states London's vaulted silver is 8, about 820 million.
19:19
OK, this is the vaulted silver in April of 2024.
19:23
Of the 820 million ounces of silver, however, 500 are held by
19:28
the ETFs, right? The SLVETF.
19:32
Of the remaining 320 million ounces of silver, some is
19:37
segregated and allocated for private owners and not available
19:42
to the market. Wow, wow, wow.
19:45
So there's less than 300 million ounces of silver backing up 5
19:50
billion or 8 billion oz depending on how you want to
19:53
calculate it. Silver short positions threaten
19:56
bullion banks. Given the vast scale of spot
19:59
open interest in London at between an estimated 5 and 8
20:03
billion, it is assumed that the vast majority of the short
20:06
positions can only. Be held by bullion banks, unlike
20:09
the COMEX futures market, the scale of such large claims for
20:12
London's limited physical silver.
20:15
Are so far beyond the size of even annual global supply and
20:19
global vault stock of silver. It is likely one it is likely
20:24
only bullion banks have issued the large majority of contracts
20:28
in the spot physical silver this is crazy.
20:33
I mean, think about this guys. This is telling us that there's
20:37
like I, I don't know what the multiplier.
20:40
Is here right? Who knows 'cause we don't really
20:42
know how much of that little bit of silver that's not owned by
20:45
the ETFs in the vaults in London, that 320 million, we
20:51
don't know how much of that is actually not part of that is is
20:55
is claimed by private owners. There's like a fraction, a
20:59
fraction of real physical metal in the vaults in London to back
21:05
up all these claims. The problem that is not that is
21:08
faced now is that with an estimated global supply deficit
21:12
right of 265,000,000 ounces of silver and that's people think
21:17
is a bunch of BS from the Silver Institute and tight global vault
21:24
stocks of silver delivery demand against the London spot
21:27
contracts could well trigger default default.
21:31
That means right that's that's what Andrew McGuire potentially
21:36
talked about. That's what we've all talked
21:38
about the the spot market by spot contract issuers such a
21:42
delivery we're almost done here guys.
21:44
Such a delivery default can trigger cascading demand for
21:47
delivery against spot contracts. Sounds like a short squeeze to
21:51
me that appear to have been vastly over issued in the City
21:54
of London's market with oversight by the Bank of
21:56
England. Thus ending the paper silver
21:59
price setting mechanism that creates excess spot claims for
22:03
for metal at multiples of the market.
22:06
Availability, demand for delivery and a defaulting market
22:10
quickly flips paper claim price setting to physical supply verse
22:16
demand price discovery. This is one of the best pieces
22:19
I've read in a long, long time. We're going to go back and give
22:22
this author more credit. Given the size of extent claims
22:26
in the London market, the potential exists for the price
22:29
of silver to soar. Oh, that's like we like this guy
22:33
even more. The price of silver to soar to
22:36
multiples, perhaps many multiples, of the current U.S.
22:40
dollar 32 per oz price. The handful of dominant bullion
22:44
bank players in the London market could then potentially be
22:48
facing an aggregate liability. Oh, we'd feel so bad.
22:52
For them of only $500 billion or higher and balance sheet
22:57
rupture, the mind is repelled. Then, he points out.
23:00
Recall that the Shanghai Gold Exchange that also trades in
23:04
silver publicly announced that it has had that it has had
23:09
recent Western bullion bank visitors seeking cooperation,
23:16
right? We know for the big Western
23:17
bullion bank sent over representatives.
23:20
What is this telling us? What does this all mean?
23:23
Huh. What is the meat of the matter?
23:25
The meat of the matter is that the the.
23:28
London Bullion Market Association, The LME, the London
23:32
They are. They've written so much paper.
23:34
Fake. Phony.
23:36
Contracts on silver manipulated the price down for for
23:40
generations. OK, put us through hell and high
23:43
water basement dwellers. How does that make you feel?
23:46
And that it could all be coming to an end.
23:50
OK, look, they're powerful. They might win again.
23:53
And if we don't win this time, we're going to win real, real
23:57
soon. And the real value of silver,
24:00
right? It's insane.
24:03
It's absolutely insane. When you compare the value of
24:06
silver against anything over the last 40 years.
24:09
Silver should be $90.00 per oz right now.
24:12
I don't care what you say, Silver should absolutely be
24:16
$90.00 per oz right now. And those boys over at the LBMA
24:21
and the LME are shaking in their boots.
24:23
I need to go back and give this author credit one more time.
24:25
And I also want to mention he did a great interview on
24:29
Palisades Radio. David Jensen.
24:32
Thank you, David, for your work, high quality.
24:36
OK, pointing out the math behind what's going on at the LBMA, at
24:42
the LME. And again, great interview that
24:45
he did on Palisades Radio. We're decoupling from the old
24:49
ways. Do you feel that, guys?
24:51
We got big data. Scary warning warning tomorrow.
24:54
Tomorrow's Friday. Oh my gosh, You know CNBC and
24:58
Fox Business are going to get you all stirred up, right?
25:01
Let me make sure we don't have any interference, OK?
25:05
Thank you. All right, let me get rid of
25:07
this. Hold on here, guys, OK?
25:09
They're going to scare you tomorrow.
25:11
They're going to. Scare Oh, the big inflation
25:13
numbers come out tomorrow. It's going to have a major
25:16
impact on the silver and gold price.
25:18
But things are decoupling. This is a different world you as
25:22
a silver and gold investor are living in right now.
25:25
Let's run out and do a quick check.
25:27
Thank you. Ryan McAdams, let's put your
25:29
smiling face up there. All right, let's run out.
25:32
Now. I need to refresh this.
25:34
This is not current. So take a deep breath.
25:37
Everything will be OK, All right.
25:41
Silver's down $0.39, gold is up $10.
25:44
Have you noticed the craziness in the market?
25:47
We're going to talk about that, but first.
25:49
Let's say thank you to Channel. Sponsor pin backs for this price
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26:01
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You need to find that out for yourself.
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I'm not going to tell you what to do, but I will recommend that
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26:22
medals, you do yourself a favor. Compare what you can get from
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I think you'll like what you see.
26:31
And I think when you get your package in the mail, you'll like
26:34
it even better because the package you get from Pinbex will
26:37
be wrapped like Fort Knox #1 but #2 for that same amount of Fiat
26:43
Unicorn part dust money that you use to convert into silver,
26:47
gold, whatever you're buying. The box you get from Pimbex,
26:50
it's going to be a little bit heavier, right?
26:52
Because you get more metal for your money.
26:55
Same is true with if you ever decide you want to convert part
26:58
or all of an IRA, check out Pimbex.
27:02
I think you'll like what? They can do for you there as
27:05
well. Let's go check on China.
27:08
Let's go see, huh? It's time for the China update.
27:11
We're going to go somebody new today.
27:13
This is our friend Hugo at Prop Pro at Improved Metals.
27:18
He points out something interesting and I liked his
27:20
chart down here, despite a modest pullback for silver on
27:23
the Shanghai Gold Exchange, down 2.46%.
27:27
Oh my gosh, this guy's falling. Premiums.
27:31
Do I have this up for you? Yes, I do.
27:33
OK, premiums remain resilient, trading close to $4.00 per oz
27:39
above the LBMA all right, the metal is still trading for
27:43
$35.40 in Shanghai. This is the Shanghai Silver
27:48
Premium, OK, in U.S. dollars per oz above the LBMA.
27:53
Look at this guys a year ago, right?
27:56
It was basically there was no premium.
27:59
It was the same. Why?
28:01
I mean, is it one of those, oh, I hate this, but I gotta say it,
28:05
things that make you go right? Why in Shanghai now are we all
28:11
the way up to $4.00? Because we are decoupling, we
28:16
are changing, and it's not gonna be told to you on the Children's
28:21
News Network or CNBC or any of the major, major news news
28:28
organizations. OK, let's talk about what's
28:32
going to go on tomorrow. Big news.
28:35
All right, let's get an update from Kitco and this guy.
28:42
I love deals, but Gary Wagner's also awesome.
28:45
This is gold tumbles. This was yesterday.
28:47
A strong dollar, OK? Everything's screwy, right?
28:51
The dollar went up yesterday. The bond market went down.
28:55
What about silver? Everything went down yesterday,
28:58
but silver hung tight right today.
29:01
But did you notice this bizarreness?
29:03
I mean, gold's up and silver's down, right?
29:07
Right. I mean, look, let's do it.
29:08
Let's just for fun, OK? See.
29:11
Silver's down $0.41. Gold's up $10.
29:14
I mean, do you remember? I don't remember 2 days in a row
29:19
where we had such bizarre behavior in the.
29:23
Everything's decoupling, everything is changing, OK?
29:26
Gold price fell sharply on Thursday as U.S. dollar gains
29:30
and climbing Treasury yields sparked concerns over the
29:33
Federal Reserve's anticipated path of interest rate cuts this
29:36
year. OK.
29:38
The precious metals decline came ahead of a critical inflation
29:41
report. It's not just critical, guys.
29:44
It's the biggest news in the history of the universe for
29:47
silver and gold. Tomorrow, with investors bracing
29:51
for potential surprises. Surprise, surprise, surprise.
29:55
They could force the Fed to recalibrate its monetary policy
29:59
outlook. Somebody needs to tell the the
30:07
market what we already know, right?
30:10
Silver and gold are really not paying as much attention long
30:14
term to what the Fed is saying because the Fed is is suffering
30:20
from a, a case of impotency, right?
30:23
The Fed is losing its swagger over the market, but none the
30:29
less, for the time being, it is the biggest news.
30:31
All right at the center of attention is the PCE for April,
30:35
set to be released by the Bureau of Economic Analysis.
30:39
I thought the Bureau of Lies and Statistics put that one out.
30:42
Anyway, the poor core PCE is the Fed's preferred inflation gauge,
30:46
capturing changes in consumer spending across a wide range of
30:50
goods and services. Well, I wonder if they're going
30:52
to include Kohl's and Bass Pro Shops in the big RL Red Lobster,
30:57
huh? I wonder.
30:59
Treasury yield surged on Thursday, reflecting a muted
31:03
demand at this week's 183 billion bond auction.
31:07
OK, people aren't buying bonds. This was the other big story
31:11
yesterday. People aren't the world in a
31:14
nutshell. We won't go down this rabbit
31:17
hole, guys. But with all the massive debt
31:20
that our country has right now, the world is not buying all the
31:24
debt that the United States needs.
31:26
The world and investors to want the debt, to buy the debt.
31:30
They don't have the money and they don't want it.
31:32
And that's what's causing interest rates to go up.
31:34
Here's the here's the here's a critical thing that we need to
31:39
remember as silver and gold investors.
31:41
It's all wake up. OK, buckle.
31:45
Up. Buttercup, because everything
31:47
has changed, I know it's hard for us to accept that at some
31:51
point, but this whole notion that oh, the Fed's got a lower
31:55
rates for gold and silver to go up.
31:56
And if the if inflation comes out high tomorrow, yeah, short
32:00
term we could have a we could have a bombardment of the silver
32:04
and gold price. But the reality is just this,
32:08
OK, inflation is is going to go up.
32:12
I'm sorry to have to break that to you.
32:14
Are you protected? Do you have enough gold and
32:16
silver now? That's a question you need to
32:18
answer for yourself, however. And people think, oh, if
32:22
inflation goes up, it's bad. That's all changed.
32:24
It's all different now, OK? Because what's going to happen
32:28
is that inflation will again soon get higher than the
32:32
prevailing interest rate, right? The Fed's going to have to
32:35
monetize the debt because nobody wants it.
32:39
And the only way they're going to be able to control the
32:41
interest rate is through what's called yield curve control,
32:46
which is just a fancy pants way of saying the Fed's going to
32:50
have to make money, print money, right?
32:53
Push the button, print whatever out of thin air. the Fed to buy
32:59
the US debt. It's been going on in Japan for
33:02
a long time. They're they're up a up a
33:04
Japanese Creek without a. Paddle OK, that's the fact it's
33:07
going to have to happen here. OK.
33:10
Either that or OK and that's good for gold and silver or?
33:15
Or the interest rates are going to have to be raised far above
33:19
the inflation rate, which ain't going to happen.
33:22
It will not happen, because that would result in catastrophic
33:26
consequences for the. Economy.
33:29
And aren't we already seeing catastrophic consequences?
33:31
They're closing. Red Lobsters.
33:33
They're closing. Are there they're they're
33:35
Kohl's. Kohl's is having trouble.
33:37
People are shopping at the dollar.
33:39
I mean, you know, it's, it's just the way this is all going
33:43
to play out. I know it's mine.
33:46
You know what if you don't want your mind to be numbed?
33:48
I numb my mind thinking about all this.
33:51
Just realize there's no way out, OK?
33:55
The only way that they can get out of this mess is to print
33:58
more money. Either that or a massive,
34:01
massive depression, which is not going to happen because they
34:04
don't want to lose their, you know, they're beholden.
34:07
They're they're absolutely beholden to the system.
34:10
What about I love this guy Jordan Roy Byrne, he's actually
34:16
been a guest here in the basement.
34:17
He's one of the top analysts. He knows more about charts, but
34:20
he put up a chart in one of his recent videos that I want to
34:23
share with you that I think is awesome.
34:27
Are you ready for some awesome news as a precious metals
34:30
investors? Because this is awesome, awesome
34:33
news in my opinion and. There he is at the.
34:36
Bottom, I took a screenshot. Jordan Roy Byrne, this guy down
34:40
here, really in the lower left corner, really a super nice guy,
34:45
really a super smart guy. Look at this chart.
34:48
This is stunning to me. Gold ETFs.
34:51
And the same is true with silver, and the same is true
34:53
with the precious metal mining swag gold ETFs as a percentage
34:58
of all the ETFs. OK, all right, look at this.
35:02
This goes back to O 809-2000. 11 it got a size 8%.
35:07
OK, 8%. Where are we today, guys?
35:10
All right, 1%, OK, we've been as high as 2% recently, OK, But
35:17
look, 3%, four percent, 5 percent, 6%, we're at 1%.
35:22
This is called the happy scrappy Ron's basement law, law of small
35:29
numbers. And this is really important.
35:31
All joking aside, I try to have fun and joke around, but this is
35:34
serious business. This is our security.
35:36
This is our money. Why is this bullish?
35:38
And he said that he's like this because I think a lot of people
35:41
look and say. Oh yeah, look, nobody's invested
35:44
in gold or silver. It's only 1% of all.
35:47
ETF allocations, No, it's bullish guys, because guess
35:51
what? OK, if you.
35:53
Look at that 1% and go up to 6%, let's say, to get up to that.
35:59
We're talking about multiples and multiples.
36:02
More money coming into gold? Coming into silver, Coming into
36:07
the precious metal mining stock. So ask yourself the question
36:10
right? What this represents is a green
36:13
pasture ahead of you. What?
36:15
This represents is you got a you got a picnic plan and you walk
36:20
outside. It's been storming and raining
36:22
all day long and it just stopped raining right now.
36:26
Just stopped raining 10 minutes ago.
36:28
And you can see the clouds starting to break up and the sun
36:31
comes. Through right, it means blue
36:34
skies ahead it means a massive runway for improvement it means
36:39
multiple more amounts of money potentially coming into the
36:43
silver and gold market into the precious metal mining stock
36:46
market. So I really love that.
36:48
Thank you Jordan for that and that letting and, and, and, and,
36:52
and me allowing to, to be able to share that with my audience,
36:56
'cause I think it's just absolute critical information.
36:59
If you right, mining stocks are risky.
37:03
Everything's risky. All.
37:04
Stocks are risky. I'm not giving you financial
37:06
advice, but there's two stocks that I do own.
37:09
The sponsor, Ron's Basement. I want to say thanks to 1st
37:12
Mining Gold. You can learn more about them at
37:15
firstmininggold.com and our friends at Fortuna Silver.
37:20
You can learn more about them at Fortuna Silver.
37:22
Dot. Com, although they also mine a
37:24
ton of gold in West Africa. All right, what else do we have
37:30
to look at? You ready for some crazy news
37:32
about gold? You ever hear that term
37:34
intrinsic? Intrinsic.
37:36
Let's go, let's go. Let's do a quick a quick
37:39
intrinsic. Gold has intrinsic value.
37:42
Sounds fancy, doesn't it? Huh?
37:44
Well, let's just learn a little bit here.
37:47
Here we go. And I think this is it.
37:50
Yes, our friends at Gold Star again, John Little, right?
37:54
This is the Gold Star Gold Market Substack The intrinsic
37:57
value of gold finally explained best.
38:00
All right, when experts say gold has intrinsic value, they're
38:05
referring to the inherent worth and fundamental value of gold.
38:08
This is true for silver as well that is derived from its unique
38:12
properties and characteristics rather than just its market
38:16
price or perceived value. The intrinsic value of gold
38:18
stems from several factors. Scarcity, gold and silver, all
38:23
right, Rare and finite resources making it valuable to its
38:28
limited supply, durability, right?
38:31
Indestructibility. There's some crazy facts about
38:33
gold down here. Gold is highly durable and non
38:36
corrosive. Utility and industrial
38:39
applications. Gold that does have industrial
38:41
applications. You know the story for silver
38:44
and that as well. Cultural and historical
38:47
significance, Americans, we're like the low, we're like the
38:51
lowest level cultural gold and silver people on the face of the
38:55
Earth. Everywhere else, China, India,
38:58
you know, the, the, the biggest countries in the world.
39:01
Gold and silver are massive. It's a hedge against inflation
39:05
and economic uncertainty. Gold and silver are your safe
39:07
harbor during times of uncertainty.
39:10
Are we having geopolitical uncertainty?
39:12
We have Taiwan, we have Ukraine, and we have the Middle East.
39:16
Mike Drop In essence, OK, the intrinsic value of gold is
39:20
derived from its unique physical and chemical property, scarcity,
39:25
and various practical and symbolic uses, rather than just
39:28
its market price or speculative demand.
39:30
The intrinsic value is what gives gold and silver its
39:35
fundamental worth independent of external factors.
39:39
OK, you can't print gold, but this is interesting this this
39:44
you. I hope you find this as
39:46
interesting as Ron did. Yeah.
39:55
OK. Susie just reported down the
39:57
steps. I thought she was gone.
39:59
Super chance and 300 likes. Thank you, Susie.
40:01
I'll get to that. Gold is the most malleable
40:04
inductile. A single gram.
40:05
A single gram. Do you know how big a gram of
40:08
gold is? Tiny.
40:10
It's like a tiny little bead. OK.
40:12
A single gram can be beaten into a sheet.
40:15
One square meter. And this is what blew me away.
40:18
An ounce of gold, one ounce of gold can be beaten into 300
40:23
square feet. And then you can read more
40:26
again, this is at the gold market sub stack.com.
40:30
Let's go back here. Let's go back here.
40:32
Let's do some recognition. Ron McAdams, thank you again.
40:37
There's Ron smiling face for your super chat.
40:39
We got a super chat from our friend Derek Muri super sticker.
40:43
Thank you, Derek. Wow.
40:45
And Silver Surfer. Awesome man for coffee and a
40:49
doughnut. Thank you.
40:50
My friend. Silver Surfer has a YouTube
40:54
channel and you guys might want to go check it out.
40:56
I've watched some of this stuff. Very high quality.
41:00
Thank you, Silver Surfer. Yeah.
41:02
Nice people in the gold and silver community.
41:04
Have you noticed that? I'm telling you, I've been doing
41:07
this every single day since February of 2020 two 2 1/2
41:12
years. You guys are nice people and the
41:14
other Youtubers that are in this channel, bald guy money, pound
41:19
of gold, Silver surfer, stacking surfer.
41:23
I mean just a lot of really high quality, super nice people and
41:27
whoever else more and more and more.
41:29
OK, so thank you guys. Wow, we got more.
41:36
What do you think? This is interesting.
41:38
What do you think a veterinarian has to say about silver?
41:42
I've got a friend who's a successful veterinarian and a
41:46
fanatical silver stacker. And listen to what what he had
41:49
to say. I thought this was very
41:51
interesting. His name's David, he said.
41:54
Interesting to see the battle for weather.
41:57
Hold on here. Let me highlight this silver
42:01
price to be above, above or below $32.
42:04
Battling between the Comex and Shanghai for that $32, this time
42:09
is different. This feels different.
42:11
Do you feel it? You know what's so different?
42:14
Guys, this is huge. This is huge.
42:16
OK, What's different about this rise in silver price to $32?
42:23
Hold on one second. I gotta get a sip of water.
42:29
What's absolutely different, OK, is that this is not like a spike
42:35
rocket ship up move. This happened over a little bit
42:39
longer period of time compared to the.
42:41
Last time we got this high, which was the silver squeeze,
42:44
the silver squeeze wound up being a flash in the pan.
42:46
This one is much more. It's what's a good word to
42:49
describe it? Solid.
42:52
Based on not a bunch of and I love the Wall Street silver and
42:56
the silver adhesion club and what's and then there's
42:58
something super exciting about all this is based on real
43:01
fundamental, real, real like worldwide demand like we've
43:09
never seen before. This is not a spike up it.
43:11
I agree with you, David. It does.
43:13
Do you? Agree.
43:14
I mean let me know in the comments.
43:15
To me, it feels way, way, way, way different.
43:19
And the exciting part on top of that is if on top of this, what
43:24
I would call pretty solid, right?
43:27
Look, guys, we can be a $26 silver coin chop.
43:31
Chris is going to going to going to the chastise me for even
43:34
saying that, but we could be a $26 silver in four weeks or six
43:38
weeks from now. Anything's possible.
43:40
I don't think that's going to happen.
43:42
I feel like this new price level that we're at has been built on
43:47
a very solid base. And then think about this.
43:50
What do you? Think is going to happen if we
43:53
do get like the Wall Street silver people coming back in
43:57
mass, right? The people, there's the, the,
43:59
the die hard people like you and I have been here all along.
44:02
But what if we get a wave of new people trying to get into the
44:07
silver market in the West? I'll tell you what'll happen,
44:10
because it happened just 14 1/2 months ago when we had the
44:13
little banking crisis. You won't be able to get silver.
44:17
And that's the message that I keep getting from our friend
44:19
Coin Shop Chris, the man on the street, the guy who's out there
44:23
talking to people every single day.
44:25
And he's telling me I'm feeling, I'm feeling, feeling feelings.
44:31
OK, Coin Shop Chris has feelings too.
44:34
And Coin Shop Chris is feeling that there's a growing interest,
44:39
a growing number of people, Right.
44:41
But that's that's that's just that's that's butter on your
44:45
bread. That's icing on the cake, right?
44:47
Hey, guys, it's time to make some feathers fly.
44:50
It's time to put some boots on the wet warehouse floor.
44:54
Hold on. Susie's yelling at me.
44:55
Hold on one second. OK, I gotta ring the gong and
45:01
the cowbell. Susie's.
45:02
I put Susie to sleep over here. Hold on, because she wasn't
45:06
supposed to be here today. Can you see Susie?
45:12
Oh, yeah, there she is. She's sleeping.
45:18
Susie says hi. Anyway, I will ring the bell on
45:21
the cowbell now. I lost my train of thought, but
45:23
we're going to come right back to it because I'm going to pull
45:25
it back, baby. OK?
45:29
Anyway, when the people come back, it's going to be
45:32
absolutely crazy on top of this solid base that we built.
45:36
Heavy volume of the day recently, always coming from
45:38
9:00 AM to noon New York time. Apparently CE OS we talked about
45:43
this and major bullion banks have visited Shanghai recently.
45:46
Four of them did. I also heard that Jamie Dimon is
45:49
currently in China. I heard that also.
45:51
I'm certain silver is number one on the business discussion list
45:55
with gold and everything else like being #2 what have you
45:58
heard? And I said, I think you covered
46:00
it all way different than last time.
46:02
I just talked about that if we do get a squeeze, we're starting
46:07
from a much higher platform and $40 and beyond are not out of
46:12
the question. What if we get, let's just,
46:15
let's just review. So you, you, you want, look, you
46:18
deserve to feel good. OK, let's just review.
46:21
We still have, let's go out and look.
46:24
This is not an up to A dollar, you know how silver goes 51
46:30
cents, gosh darn it. Anyway, we still have $31.50
46:35
silver, OK, We, we know that these bullion banks, these
46:39
massive banks have like near historic level of short
46:43
positions. That means they sold silver and
46:47
at some point they got to buy it back, OK.
46:50
We know that the demand from the East that, that this, that this
46:54
new world order that's taken, but not, it's not a good term to
46:58
describe it, but new world establishment in the metals
47:01
markets, it's we know that there's been very little limited
47:08
interest in the in the West. All of this a short squeeze, in
47:12
my opinion, is definitely within the within the realm of
47:16
possibilities. What do you think's going on
47:20
with your house? Oh, I got to ring the cowbell.
47:22
Here, time for the cowbell. Guys, OK, 200 thumbs up and
47:30
Susie says do the gone, where's the gong?
47:33
The gong is for 300. And then we're going to talk
47:37
about craziness going on with your house.
47:42
Thank you for the thumbs up. Thank you for the Super chats.
47:44
Thank you for the support. So I was watching this video
47:48
last night. It was called a channel called
47:50
One Rental at a time. You know, like over the last 10
47:54
years, all these people got into buying Airbnb's and, and, and,
47:59
and rental properties. And there were all these
48:01
Youtubers that popped up and you know, how to make cash flow and
48:05
you'll be rich. And, you know, I think I don't
48:08
know much about it and I think maybe it kind of worked.
48:10
But anyway, these people were talking about what's going on
48:14
right now in the realtor market, the residential real estate
48:17
market, and it's not good. They're saying like all the
48:21
marginal real estate agents are dropping like flies.
48:25
OK, the good ones are doing well are will, will, will gain market
48:29
share. But a lot of Realtors are
48:32
getting out of real estate because there's no houses being
48:35
sold. Think about what's going on.
48:38
OK, I, I think I, I think earlier in the week, coin Shop,
48:41
Chris had sent me a, a graph of the number of houses available
48:44
for sale in Florida and it's skyrocketing.
48:47
OK, Think about that. What's going on in the
48:50
residential real estate market. Think about what's going on at
48:52
Kohl's. Think about what's going on at
48:54
bass pro Nobody talks about this anymore, OK?
49:05
But here's a little secret, OK, All those interest rate hikes
49:08
that the Fed did over the, you know, a year, year and a half
49:11
ago, right? All that is just now because
49:15
there's a lag effect starting to be felt in the economy just now.
49:20
Are we getting what I would say is the probably the most potent
49:24
portion of the impact of those interest rate hikes?
49:29
It's going to get absolutely interesting in the next six
49:33
months. Remember, I called it a week
49:36
ago. I think these next six months
49:38
are going to be absolutely like nothing we've really ever seen
49:42
before and could be a time where you and I are going to be very
49:47
happy that we protected ourselves by investing in
49:50
precious metals. Hey, look, I don't have a
49:52
crystal ball. Don't make any financial
49:54
decisions, don't make any kind of decisions based on anything
49:57
I'm saying. But that's what I see happening.
50:01
Am I always right? No.
50:03
Am I often right? Yes.
50:05
And when I look at and think about we got this election
50:07
coming up right, and I don't know, are we going to learn
50:10
today the verdict on on ex president Donald?
50:13
I mean, there's a lot, a lot, a lot of stuff going on.
50:18
You know, the world is dumping the dollar.
50:22
OK, I'm not going to dump you. Thank you for being here.
50:26
Thank you to the sponsors. Don't forget if you want to get
50:28
some gold, silver or platinum, go check out Pinbex Pi MB E
50:33
x.com and I'll see you tomorrow. Thank you.