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In NEXT 6 Months CHAOS Breaks Out! -- (Silver Price and Gold) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
Welcome to the live stream. Welcome to the basement.
0:05
Yes, we are facing potential chaos in the next six months.
0:09
We're going to cover that. But we've got a lot first to
0:11
talk about with the silver and gold price.
0:14
But first, I want to say thank you for joining me in the
0:17
basement. You are the most important part
0:20
of Ron's basement. I hope you feel like you found
0:23
yourself a new little home away from home because you belong
0:27
here. You're part of the crowd,
0:28
basement dweller. So thank you.
0:30
Please give this a thumbs up. You can subscribe to the channel
0:33
that's always free. But let's talk about what's
0:36
going on right now in the silver and gold market.
0:40
OK, But first, but first, more big breaking news.
0:44
We survived. Congratulations.
0:47
Did you know you survived something?
0:48
That could have potentially been very traumatic yesterday.
0:53
Five. Yes, 5.
0:55
FED speakers yesterday and you know what?
0:58
What does this mean? Think about this.
0:59
We had five FED governors speak yesterday and really it was a
1:04
nothing burger to the gold and silver market.
1:07
Now what is that telling us? That's telling us that the gold
1:10
and silver market have? Matured to the point where
1:14
they're kind of ignoring the Fed, the Fed guys.
1:19
The Fed is losing their potency. They're becoming impotent.
1:24
Let me show you real quick. Look, this guy is becoming
1:31
impotent. Not important, impotent.
1:34
OK, so we survived yesterday. Congratulations.
1:38
But let's get an update on the silver prize.
1:41
I thought this was a beautiful piece of analysis.
1:44
You're going to be, you're going to be just floored by this.
1:46
And I've got some big, super interesting news that we're
1:51
going to talk about from where is it?
1:54
Here it is from our friend Rodger, Bald guy Money.
1:56
I talked to him this morning, man.
1:58
He sent me a chart which is going to make you and me smile.
2:02
And I'll tell you why it made me smile.
2:04
I think it'll make you smile. But we'll get to that in a
2:06
little bit. This is from FX Empire Silver
2:09
price forecast. Silver continues to see noisy
2:13
trading. Does it feel that way to you?
2:16
It feels that way to me. We're bouncing around.
2:18
We're gonna look at some charts here.
2:19
I'm gonna show you some interesting things going on with
2:22
the silver price. But this guy, Christopher Lewis
2:26
says we've had noisy silver trading.
2:28
He says at this point, it looks like there are a lot of traders
2:31
out there willing to buy the dips.
2:34
Are you getting that feeling? I'm getting that feeling.
2:37
Are we? Setting a new price floor for
2:41
silver and gold in this 2928 range.
2:45
Are we going to be here? For a.
2:46
While hey, I'm cool with that, are you cool with that if we
2:49
hang out around $2829 silver for four weeks, 3 weeks, six weeks,
2:55
7-8 weeks, even if that's what it takes?
2:58
To build a. Platform, A launching pad from
3:02
which we could move into much higher silver prices by the end
3:06
of the year. Okay, in green.
3:08
He says the silver market initially tried to rally on
3:11
Tuesday, but quite frankly couldn't hang on to the gains.
3:14
We're going to struggle for a while.
3:15
By doing so, the market looks likely to continue to find
3:18
support underneath, perhaps extending down to the 2850
3:24
level. That's kind of where these
3:26
moving averages are, and a lot of traders are going to look at
3:30
it through that prism. There are a lot of questions
3:32
right now about what central banks are doing.
3:35
Nobody cares about the central banks, right?
3:37
We just talked about that gold and silver are calling the bluff
3:42
of the central banks and therefore I think there's a lot
3:44
of questions as to what silver will do.
3:48
That being said, this is a market that has a lot of
3:51
underlying pressure and therefore I think there will be
3:55
plenty of people out there willing to step in and buy the
3:59
dips. If we break down below 2850,
4:02
that would be a relatively negative sign.
4:04
But even then, I think the real battle is probably down at $26.
4:09
I I agree with that. Do you agree with that?
4:11
We've talked about that $26. I see that short term worst case
4:17
scenario. I'm not predicting it, but I see
4:19
that as short term worst case scenario.
4:22
That was the scene of the major breakout that got us to where we
4:26
are today. Let's go, let's go say hello to
4:30
each other again, huh? We love our silver, right, Huh,
4:33
right. You know what's in here.
4:35
I'm going to show you in a little while.
4:36
My favorite silver. I'm back in love again with
4:39
those coins. Ron McAdams.
4:41
Thank you. Wow.
4:42
Let's look at our good friend Ron smile.
4:44
And Ron, Ron and Ron, thank you for the Super chat, Ron McAdams.
4:48
But let's move over to something a little more interesting about
4:55
the silver market. It's been a few days since we
4:59
looked at this. Let's look at what that guy just
5:01
told us, his analysis of the silver market within this view.
5:06
Right, guys? The massive cup and handle.
5:09
But there's a couple secret bonuses embedded in this.
5:13
OK, we got the big cup $50.00 in 19, eighty $50.00 in 2011.
5:19
And if you consider the fact nobody talks about the fact that
5:23
silver got the 50 bucks in 2011, everybody talks about the Hunt
5:26
brothers back in the 1980 big run up in the silver price.
5:30
And now it was just because of the Hunt brothers.
5:32
Everybody conveniently forgets to remember that we had $50.00
5:36
back in 2011 that corned, this formed, corned, formed this big
5:40
cup and now we are in the handle.
5:44
Now remember this is where it gets exciting.
5:46
So we're right about here, right?
5:48
Right about $29.00, that handle breaks out.
5:51
That's one of the most powerful chart patterns in the world.
5:54
But this little spot where we are, where I drew that box, we
5:58
broke out of a wedge, OK, which is a very bullish sign when we
6:03
broke out above $2223 not too long ago and embedded within.
6:08
So that was embedded within that handle and embedded within that
6:12
in that handle, it's still an inverse head and shoulders
6:15
pattern, right? It's like an upside down person.
6:18
There's the head and then there's the shoulders.
6:21
I'm sorry, you can't see my cursor that shoots up.
6:24
So within within this massive bullish long term chart pattern
6:31
within the little handle part where we are now, guys, there's
6:34
even even more to be excited about even more.
6:38
And some people say there's even a a cup and handle within the
6:41
cup and handle within the handle.
6:44
Let's go back here. I just want to remind you of
6:47
this. This is graphic from Bloomberg
6:50
Silver market heads for its fourth straight year of
6:54
shortages. What does that tell us, right?
6:56
But here it is graphically. Those yellow, yellow bars are
6:59
the silver shortages, millions of Oz right here we are over 200
7:06
million ounces in 2220, three, 180 million ounces and they're
7:13
projecting another 200 million oz shortfall today or this year.
7:18
I don't know, guys. I mean, really, is there
7:20
anything not to be excited about when it comes to silver?
7:24
I'm not giving financial advice. I'm just sharing with you my
7:27
opinion. You do your own due diligence on
7:31
that. But now we're going to shift
7:32
over to gold briefly and then we are.
7:35
Don't you worry. Don't you worry.
7:37
The world is going to erupt into chaos within the next six
7:41
months. I've been saying that and I have
7:43
proof for you that we're going to talk about later on.
7:46
Before we move over to gold, let's move over and check on the
7:51
silver and gold price. It's that time because the the
7:54
stock markets are closed today, but the silver and gold markets
7:59
are still trading. So we're going to go to our
8:00
friends at pin backs. Let's say a prayer guys.
8:03
These are not up to date numbers.
8:05
I need to hit that refresh button up there in the left and
8:08
let's see where we are. OK.
8:10
Hey, all right. So gold's down 4 dollars,
8:13
$2361.00 per oz. Silver is at $29.50.
8:21
Amen. I want to say thank you to
8:25
channel sponsor Pinbex. That's the site we're on right
8:28
now, Pi MB E x.com. I was talking to one of the
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Compare what they can do for you.
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for your money also. Thank you, PMG.
9:48
All right, basement dwellers, I hope you guys feel like you
9:52
belong here. Because you do.
9:54
You're part of the group. Yeah, we got a lot more to talk
9:57
about. Let's move over to gold and all
10:02
right, subscribe. Yes, thank you.
10:05
OK, let's move over to gold and and here it is.
10:12
We'll start with this one from Kitco.
10:15
This was big news coming out yesterday.
10:17
We're going to look at a couple couple different quickly
10:20
articles that talk on this. What do you think it means guys?
10:24
What do you think it means that hold on, are we live still?
10:29
I think we are, yes. OK, What do you think it means?
10:32
That the central banks continue to by gold.
10:35
Remember, Remember that horrible, horrible day?
10:39
What was it 9 days ago when gold was down $80.00 in one day?
10:43
And what was the reason? It's because the Chinese central
10:47
bank didn't sell gold. No, they just announced that
10:50
they didn't buy any gold during the month of May.
10:53
But what are the other central banks doing?
10:55
Let me back up. Remember, they didn't sell gold,
10:59
right? And we don't even believe what
11:00
the Chinese central bank says anyway.
11:02
Everyone, every analyst, has always said that the actual
11:07
amount of gold being bought by the Chinese central bank is
11:10
likely significantly. Higher.
11:13
Than what they report so just because they say they stopped
11:16
buying doesn't mean they really stopped buying all right that's
11:20
just a little hint now but let's look at this.
11:23
But other central banks are buying why central banks are
11:27
increasing their gold reserves by 29.
11:30
I'm sorry, 29% plan to buy more in 2024 that's from the World
11:36
Gold Council and that just is a graph that shows I didn't even
11:42
look at it remain unchanged OK, increase the blue this OK, this
11:47
is an interesting graph for us to look at look at from 2019 to
11:51
2024. The dark blue are the banks that
11:56
say they're going to increase. Do you see how that number, that
11:59
percentage is increasing 29% say they're going to increase remain
12:03
unchanged. All right, that's pretty much
12:06
remained, remained unchanged with 72% last year, 68% this
12:11
year. But look, look over the last two
12:13
years, massive central bank gold buying.
12:16
OK, here's a quote. The planned purchases are
12:20
chiefly motivated by a desire to rebalance to a more preferred
12:25
strategic level of gold holdings, domestic gold and
12:28
production and financial market concerns, including higher
12:32
crisis risk. Yes, and rising inflation.
12:36
Inflation's not going anywhere, guys.
12:38
OK. It is not rates likely.
12:41
I was saying this three months ago.
12:45
We were talking about this. I said I wouldn't be surprised
12:48
that the Fed never lowers rates again.
12:50
But we don't need that for the gold price to continue to go
12:54
higher because inflation is getting worse and worse and
12:58
worse. And now yesterday I read an
13:00
article where BlackRock said exactly what we were saying in
13:03
the basement three months ago. We were like 3 months ahead of
13:06
Black Rock. OK Purple.
13:09
The survey results come nearly two weeks after data from the P
13:12
Bock showed that it didn't increase its gold reserves in
13:15
May, ending an 18 month buying spree.
13:18
However, analysts have said. That even if China.
13:22
Slows its purchases. There's still robust interest in
13:26
gold as a reserve. As a reserve diversified, that
13:30
doesn't really make sense, but you know, they're saying that as
13:32
a, as a reserve diversifying tool.
13:36
Now, the important thing to remember here is, right, number
13:40
one, we don't really believe the Chinese central bank necessarily
13:44
that they're actually stopping buying gold.
13:46
Number two, they didn't sell gold #3 a lot of people say
13:51
they're doing it. They stopped because they
13:53
wanted. Here's a little secret.
13:55
They wanted to let the other BRICS countries.
13:58
Buy gold. So they wanted to kind of, you
14:00
know, leave some space in the market so the other BRICS
14:03
countries could buy gold 'cause now there's all this talk about
14:06
if you heard about this project in bridge, the unit, right?
14:10
A gold backed currency by the bricks.
14:12
It's starting to gain attention again.
14:16
Who knows? You know, it's going to be
14:17
absolutely crazy here as we move through the end of the year
14:22
here. Here's a tweet from Alexander
14:24
Stayhill, the one and only. He says about 13% of advanced
14:29
economies plan to increase their gold holdings in the next year,
14:33
up from 8% last year, the highest level since the survey
14:38
began. All right, now on top of that,
14:41
and then we're going to get to some crazy info that bald guy
14:44
money sent me. But on top of that, what is
14:47
going on with this? Do you know who the Bank of
14:50
International Settlements is? I mean, can I highlight that?
14:53
I don't think it'll let me highlight it.
14:54
Yeah, well, hold on. The Bank for International
14:58
Settlements, guys, this is you think the central banks are bad?
15:03
The Bank for International Settlements is the central Bank
15:06
of the central banks. What are they doing with gold?
15:09
This is freaking a lot of people out.
15:12
This is gold swaps undertaken by the Bank for International
15:16
Settlements. What's a gold swap?
15:18
And I don't know, they loan their gold to each other.
15:20
It's it's the whole electronic paper.
15:23
Gold market is a mess. Remember, right, Andrew McGuire
15:27
has a great interview that he did on Live from the Vault last
15:31
week that if you want to dig into that, but the whole paper
15:34
electronic gold market is a giant mess right now, OK.
15:39
And the Bank for International Settlements, the central Bank
15:44
for the central banks, right, has undertaken a gold swaps, the
15:49
Central Bank of the world central banks, their gold swaps
15:52
rose by a substantial 31 tons in May over the 78 tons reported in
15:59
April, reaching 109 tons, an increase of 40%.
16:04
While the Bank for International settlements long has refused,
16:08
right? You think the central banks are,
16:10
are creepy and secretive? The Bank for International
16:12
Settlements guys is is the is is the the mother of the dog is all
16:18
I can say has refused to explain what it is doing in the gold
16:22
market and for whom all of this guy's happening as this new
16:29
chatter. OK thank you Susie is this new
16:33
chatter is emerging about the potential for a gold backed unit
16:37
system. I don't know.
16:39
It's there's a lot going on. It seems that this.
16:43
OK, Thank. Thank you, Susie.
16:45
It seems that the swaps are undertaken by the Bank for
16:48
International Settlements for one or more of its central bank
16:51
members with the swapped gold being accounted for is being
16:55
held in registered site account at a central bank.
16:59
In any case, the swaps represent surreptitous central bank
17:03
intervention in the gold market. So there's a lot going on.
17:07
We're going to get to the bald guy data here next.
17:10
Wow, Ancient Tom, thank you for the Super chat.
17:13
What's he had to say? Ancient Tom says just me and the
17:16
chickens and the dog and the cats and the raccoons and the
17:19
possums and the turtles and etcetera.
17:22
Well, and you're here in the basement with us just like
17:25
everybody who's with us today. Hey Clifton, thank you for the
17:29
Super chat as well. Cliff Moberg, just me and the
17:32
chickens. Got a lot of chicken raisers
17:35
here in the basement. I know where I'm coming from, My
17:37
eggs. But we want the goose that laid
17:40
the golden egg. Let's look.
17:42
I was talking with Bald Guy Money, right?
17:44
He's one of the smartest guys in the room, right?
17:46
A very, very intelligent analyst.
17:50
Bald Guy Money YouTube channel. Good friend of mine.
17:52
Good friend of the basement. OK, let's go take a look.
17:56
He sent me some exclusive information.
18:00
Hold on here. What am I doing?
18:02
How do I hold on? Uh oh.
18:04
We're having technical problems. Hopefully you guys can still
18:07
hear me. And where was I?
18:11
OK, here it is. All right, let's go take a look
18:15
at this. Uh oh.
18:22
Here we go. Before I forget, I'm gonna bring
18:25
the pocket pinger 10 times for the 100.
18:27
Thumbs up. I appreciate that.
18:34
Nothing like hearing a little silver, right to remind us.
18:36
Now let's go to the bald guys chart and and this is very
18:45
insightful and he there's the Comex, there's the, this is you
18:52
know what real quickly that cube is the amount of gold, the total
18:56
amount of gold mined in the world in the first three months
19:00
of this year. Just to keep things in
19:01
perspective, when we're talking about gold and silver, right?
19:05
That's like 8 feet by 8 feet. That's the total amount of gold
19:09
mined in the world in the first three months of this year.
19:13
Gold and silver are scarce assets.
19:15
OK, that was a little aside. This is a very interesting
19:22
chart. We were talking about the gold
19:23
price and the silver price this morning with bald guy Money and
19:27
he said I'm going to send you a chart that shows, right, that
19:30
for precious metals, we'll just read this.
19:33
Although June, June, that's the month we're in is the second
19:36
weakest month historically, there is a trend that sees gold
19:40
price pick up at the end of the summer.
19:44
So guys, this is, we got good news coming here, right heading
19:48
into its strongest month, which is historically September.
19:53
So if you look at the bottom down there, I know it's possibly
19:56
a little cloudy now it's nothing.
20:00
There we go. OK.
20:01
The 0%, right, gold price performance from 1975 to 2020.
20:08
So we're talking about a 2545 years of data.
20:11
June is typically the lowest performing month of the year.
20:16
Looks like March is the worst, right?
20:18
But that's what we're going through right now.
20:20
But look at July, look at August, look at September, look
20:24
how the price goes up and up and up.
20:26
Now look at this S&P 500. Isn't it interesting that
20:31
September and bald guy pointed this out, right?
20:34
The month of September, which traditionally is the best month
20:37
of the year for gold and of course by default little brother
20:41
silver as well. But that's also the worst
20:45
performing month of the year for the S&P 500.
20:48
So if we can get through, that's the big key right now for us.
20:53
If we can get through, if we can maintain, let's say 2828 fifty,
20:58
$29.00 silver, if we can maintain $2200 gold, we could be
21:04
heading into a really, really great period of the year for the
21:08
rest of the year. Look, a lot, I'm getting a lot
21:11
of kickback on my, on what I'm saying that I think the stock
21:14
market's overvalued. Do you think the stock market,
21:17
the general stock market is overvalued?
21:20
I want to show you something that I think is just absolutely.
21:27
Absolutely. Where did I put it?
21:31
Hold on here, guys, Here it is. OK, Here we go and there we are.
21:44
This guy's shows us and I think you can still see me in the in
21:47
the corner of the screen, but this shows us right now how
21:51
overvalued the stock market is. This is the price to sales
21:55
ratio. This will be quick, but this
21:57
will show you what an incredible bubble we are in right now.
22:01
NVIDIA has a price to sales ratio of 42, Microsoft 14, Apple
22:08
eight. OK, I want to remind you that
22:10
remember the tech bubble when it burst?
22:12
The CEO of one of the darlings of the tech bubble, Sun
22:15
Microsystems, Scott Mcnealy, a couple years after the tech
22:18
bubble burst, he said he was amazed that his company at one
22:23
point during the tech bubble, OK, remember that and it burst.
22:27
People lost a lot of money. I knew a lot of people who lost
22:31
a lot of money when the tech bubble burst.
22:33
None the less, he was amazed that his company at the peak had
22:37
a price to sales ratio of 10. And he even said that.
22:41
He said, look, this is not, we're not talking the price of
22:44
the stock to earnings, we're talking price to sales, OK.
22:49
That would mean that that for 10 years the company would have to
22:52
give back all of the sales of the organization to shareholders
22:58
just for shareholders to break even.
23:00
Microsoft and I love my relatives that work for
23:02
Microsoft, great company, no doubt 14 times sales.
23:08
I almost said earnings, not earnings sales, right?
23:11
That means if you own one share of Microsoft stock, they would
23:15
have. To give you your.
23:16
Share of the of the sales of that company for the next 14
23:21
years. Now you know that's not
23:22
realistic because companies have expenses.
23:25
So this whole idea that the stock market is grossly
23:28
undervalued is absolutely the case.
23:32
And what's going to happen when some of this money comes out of
23:36
these overvalued sectors of the stock market and is scared
23:40
money? Where does money go when it's
23:42
scared? It goes to gold, it goes to
23:44
silver, and it's not going to take a lot.
23:47
It's a big benefit that we have right now, right Basement
23:50
dwellers. You know, we are in what, an
23:56
asset class, whether it's gold, silver or the mining stocks,
24:01
which is suffering from pretty cruddy sentiment.
24:05
The good news is, and this is good news, that's good news.
24:09
You're a contrarian, right? You're, you're, you're, you, you
24:12
stepped away from the herd. The good news is that that
24:17
because of that, there is such a massive, I mean massive, massive
24:23
runway ahead of us for improvement in the price of
24:29
gold, of silver and in particular the precious metal
24:33
mining stocks. Right, that's the good thing
24:36
about being down, right? It'd be like if my daughter came
24:39
to me and said, daddy, I have AD in math class.
24:42
I'd say, well, that really stinks.
24:44
Or AD minus. I'd say the good news is you got
24:47
a lot of. Room for improvement.
24:49
And that's exactly the case of what we're dealing with right
24:51
now within the precious metals mining sector.
24:56
Chaos in the next six months, right?
24:58
Trouble in the US economy, we know that would also create more
25:05
of a favorable environment for the silver price and gold price.
25:09
Let me ask you a question, OK, residential real estate, right?
25:14
Do you do you own a house? I do, right.
25:17
A lot of Americans own houses. Maybe you own a house.
25:20
But overall in, in in the United States, Americans feel like they
25:26
are they're a big part of their wealth is tied to their houses.
25:30
OK, what are we in a, are we in on the verge of a major real
25:35
estate collapse in this country right now?
25:38
Well, think about this. If things are getting bad now,
25:41
right now we are early summer. We just came out of spring.
25:46
Those are the most favorable months for real estate.
25:49
And let's just go through a couple quick couple quick
25:52
articles that give us some insight into what's going on in
25:56
residential real estate. Here we go, real estate expert.
26:00
This is Fox News defines housing market doomsday, something we
26:05
haven't seen in our lifetime in residential real estate.
26:10
Let's go over to Yahoo Finance headline.
26:14
This was this. Morning, the housing market.
26:18
Big challenge. Consumers are feeling more
26:21
distressed. Wait till you read this.
26:23
Wait till you hear this. OK, This is home builder Lennar
26:27
on its conference call, but this this was the Co chief executive.
26:33
Quote, there's no question that given inflation rates and the
26:36
cost of living expenses, the consumer is definitely feeling a
26:40
bit more distressed and we are starting to see a little bit
26:45
more credit challenge as customers come through.
26:48
Stuart Miller, executive chairman and Co chief executive
26:51
of Lennar, told investors and analyst on the company's second
26:55
quarter earnings call Tuesday afternoon.
26:57
Well, this is this is interesting, Lennar's this is a
27:01
big new home builder. Average sales price of homes
27:04
delivered was 426,000 in the quarter, down from 400, excuse
27:11
me, and 50,000 during the same period last year.
27:15
What is this telling us? Home sales are are the number of
27:24
units are dropping. On top of that, the prices are
27:36
attached to the value of their home.
27:38
It's how a lot of people define their wealth, right?
27:42
And then they use it. This, this could get crazy the
27:45
next six months, right? This is spring and summer that
27:50
we're seeing this massive downfall in the in the
27:53
residential real estate market. This is supposed to be the best
27:57
time of the year, OK. A lot of a lot of Americans also
28:01
use equity in their home. They borrow against it with home
28:05
equity loans to rack up even more debt to pay for trips to
28:09
Disney World or to buy a new car or, you know, it's not a smart
28:12
thing to do in my opinion, but a lot of Americans do it.
28:15
But as the value of homes comes down and this is a consumer
28:19
driven economy, guys, we are, I'm telling you, the next six
28:23
months are gonna be are something is going to happen,
28:28
right. The hens are coming home to
28:30
roost even just domestically under the best case scenario in
28:34
the United States, something big is going to happen on a
28:39
worldwide basis. We know there's massive, I mean,
28:43
I don't say opportunity potential.
28:45
For the old. Black Swan events to occur.
28:48
Things are getting Redfin CEO also, Redfin's the one of the
28:52
biggest real estate related companies in the country.
28:55
He says house prices will drop this summer.
28:59
His homeowners are trying to wait out mortgage rates, realize
29:02
they can't postpone moving any longer.
29:05
That's Redfin CEO Glenn Kelman, the head of the online real
29:09
estate brokerage, pointed the signs that the housing market is
29:12
starting to get more affordable. Home prices will fall this
29:17
summer as owners have to have to cave to selling prices.
29:21
Florida and Texas are getting hit.
29:23
OK, what about commercial real estate?
29:26
That's the big one that can blow the banks up.
29:28
What are we learning about commercial real estate?
29:30
Let's go out here. Look at this on the commercial
29:36
real estate front. Our friends at the Silver
29:38
Academy think about this guys. Prime Manhattan office tower
29:43
sees value. This is Manhattan.
29:46
This is not Saint Louis, right? The the the armpit of the
29:49
country, Downtown Saint Louis. It's horrible.
29:52
The buildings in downtown Saint Louis are selling for like 70 or
29:55
80% less. This is Manhattan.
29:58
OK, office tower value plunges by $100 million.
30:04
The building was valued at 215 million in 2019.
30:10
New appraisal valued it at 104 million, a actually more than
30:15
50% disastrous drop. OK, let's go down here.
30:20
There's more. OK, another New York City, NY
30:24
city, right? I mean, the Big Apple, 321 W
30:28
44th Street is set to be sold for less than $50 million, 67%
30:38
off what it sold for a few years ago.
30:40
There are banks out there that loaned money to investors to buy
30:46
these buildings. OK, A.
30:48
Few. Years ago, right at 67% higher
30:53
prices, these banks are in massive, massive trouble.
30:56
We have PIMCO, right, stating that, that that we could see
31:00
massive regional bank failures because of this exposure to the
31:07
commercial real estate market. I'm going to ring the cowbell,
31:12
OK? And talking about Apple, we're
31:14
going to talk about we talked about the Big Apple.
31:16
We're going to talk about Apple next.
31:17
But hey, I want you to feel like you belong here.
31:20
We always ring the bell for 200 thumbs up.
31:26
Thank you for all the thumbs up. Thank you for all the Super
31:29
chats. Thank you for being here today.
31:31
Why is Apple does Apple see a big disaster on the horizon?
31:36
Apple computer, right? They, they had a everybody's
31:40
here's the deal. Nobody has any money in this
31:43
country, right? The consumer's running out of
31:45
money. The consumer is the backbone of
31:47
the economy when all this falls apart.
31:50
I almost forgot to tell you we need to talk about gold and
31:52
silver. When all this happens, when the
31:54
economy really falls apart, guys, what do you think Jerome
31:59
Powell's going to do? What do you think the Fed's
32:02
going to do? I got a little secret for you.
32:04
OK, the Fed is playing games. It it's.
32:08
I've heard it stated different ways, but if you notice, they're
32:10
kind of, they say one thing and then they shift, they go back
32:14
and forth. They're, they're putting out
32:16
kind of a mixed message about the fight on inflation and how
32:19
the economy's doing because they're scared to death.
32:22
They can see what's coming down the tracks at the United States
32:27
economy and when it happens, right?
32:30
They want to, they want to, they want to build up whatever ammo
32:34
they can at this point. Because remember, well, I'll
32:37
get, I'll get to that in a second.
32:38
Because they're going to have to print money, right?
32:40
When all this poop hits the fan, they're going to have to print
32:45
money. And when they print money,
32:48
right, your silver and your gold this time will be different.
32:52
This time will be different. That could usher in the, the,
32:56
the, the, the epic rally in the gold price and silver even more
33:02
so, right? Because you know what's going to
33:03
happen when they print money next time?
33:06
When they realize, right when, when your average people realize
33:11
that yes, it really is happening.
33:12
Yes, my dollars. We should have listened to Ron
33:14
from Ron's basement. We should have listened to you,
33:17
right, basement dweller, that this dollar is going down,
33:20
people are going to freak and they're, and that's when we're
33:23
going to have this rush of people coming into the precious
33:27
metals sector, right? They, they never fixed what got
33:32
totally screwed up back in 2008, the great financial crisis.
33:36
They took the easy way out, right?
33:38
We still had a lot of. We had a lot more. the Fed had a
33:40
lot more strength back then. They were able to print save the
33:44
bankers, right? Nobody learned any lessons.
33:46
We just printed our way out of. It right we got.
33:49
In trouble, Daddy came and bailed up, bailed him out of
33:52
jail basically. Now this time it will be
33:56
different. OK.
33:58
Things right, are happening much more quickly now, but at a much
34:04
more extreme level. We have extreme higher levels of
34:10
debt leverage in the system, right.
34:13
It's all based on, on, on illusion.
34:17
It's a monetary mirage. It's all based on credit.
34:21
It's all based on promises amongst people.
34:24
We got the and then you got the derivatives market on top of
34:27
that. I mean, it's unbelievable what
34:30
the system has gotten to and when it happens this time,
34:34
Right? Does Apple.
34:35
All right, I digress. Let's just go take take a look
34:37
and see what Apple Computer's doing.
34:39
Does Apple, excuse me, see something coming right here from
34:46
Zero Hedge headline? Oh, here we go.
34:52
Oh, we got to go all the way to the top.
34:54
Good old. Yeah.
34:55
Apple Pay later. Apple Pay Later discontinued.
35:00
OK, they're shifting it. They don't want anything to do
35:04
with it. OK, Apple ended their Apple Pay
35:07
later program. Let's all have a drink of coffee
35:09
together right now. Why would Apple do that?
35:20
Right? Because, remember, nobody has
35:22
any money in the United States overall.
35:25
Maybe you do, right? Maybe you had, you know, Susie
35:27
and I have a little money saved up, but most Americans are
35:31
living paycheck to paycheck. We know that's the case.
35:34
Most Americans have maxed out their credit cards.
35:38
Most Americans can't afford a $1000 emergency expense.
35:44
So these buy now, pay later schemes came on to help, you
35:49
know, extend even more credit to people who've dug themselves
35:53
into way too huge of a debt trap already.
35:57
But now Apple is seeing the writing on the wall and Apple is
36:01
discontinuing their buy now pay later system.
36:05
Oh, boy. I don't know if I should talk
36:07
about this next subject or not. Look, I care about you, OK?
36:14
I care about me. I care about my family.
36:16
I care about you. I know you care about your
36:18
family. I want to tell you how clear
36:22
this is becoming to me, this massive bubble that we're in
36:25
right now. But just the whole system, how
36:28
we are living in this credit based system, everything is
36:33
credit out there guys. And when it bursts this time,
36:37
we've got big trouble coming our way.
36:39
Only thing I'll recommend is try to get yourself out of debt if
36:43
at all possible. OK, what about gold in the world
36:47
right now? Let's talk about gold and some
36:49
other places of the world because we mentioned this
36:54
recently, the United States. We, we kind of live in a, in a
37:00
bubble when it comes to silver and gold, right?
37:02
And it's, it's our, our little bubble.
37:05
You're here in the basement with me.
37:06
We love silver and gold, but our country as a whole does not love
37:12
silver and gold. Not yet, right?
37:14
Why is that the case? Have you ever asked yourself,
37:18
thank you, Debbie for that super chat.
37:20
Wow, you guys are being super generous today.
37:23
Have you ever asked yourself why?
37:25
Who? Who do you?
37:25
Learn from who did you learn about money from?
37:28
OK, I'll guarantee you Americans, general Americans,
37:32
right, are financially illiterate, all right?
37:35
That's unknown fact, right? That we live in this system
37:39
where we're brainwashed to go into debt, go into debt, work
37:42
your whole life, be a debt slave for your whole life is really
37:45
what it is, right? I'm telling you, they're gonna
37:48
look back at us hundreds and thousands of years from now and
37:52
be like, wow, those people, they really, they really tricked
37:54
them, right? Every message we get, you don't
37:57
learn anything at school about money.
38:01
I, I studied accounting in one of the top universities in the
38:04
country, right? And I and I, you know, but so I
38:07
was fortunate in that regard. Who did you?
38:10
Learn about Where did you learn about money from?
38:12
We learned most of it from our parents and our grandparents.
38:16
Who would you? Have learned about silver and
38:18
gold from Maybe you were fortunate.
38:20
My parents aren't stackers. My grandparents weren't
38:23
stackers. And you know why?
38:24
I'll tell you why. I'll tell you.
38:26
My great grandpa, OK? He fought in the Boer War in
38:31
South Africa. I told you about that yesterday.
38:33
That was a war that was fought between the Dutch and the
38:36
British over gold. The British blamed it on
38:39
something else. But the reality, the historians
38:42
will tell you it was a war based on gold.
38:45
I don't know why my great grandpa didn't teach my grandpa
38:48
and my grandpa read the Wall Street Journal every day.
38:50
He was a smart guy, all this great stuff.
38:52
But when you learn about gold and silver from your parents,
38:56
from your grandparents. Right in India, in the country
38:59
of India. Do you know what grandparents
39:02
tell their grandchildren about silver?
39:05
Do you know I'm gonna tell you right now?
39:08
Grandparents in India tell their grandchildren that they should
39:12
own their body weight in silver and when it comes to gold,
39:18
Indian grandparents tell their grandchildren just own as much
39:22
gold as you possibly can, but in.
39:24
America, why is it that your grandpa likely didn't?
39:28
If he did, that's great. Or your grandma, or your mom and
39:31
dad not teach you about silver and gold.
39:34
Because Americans are financially illiterate.
39:37
Think about this right? In 1933, whatever it was,
39:42
Roosevelt confiscated all the gold, made it illegal for anyone
39:46
to own gold as an investment, basically, right?
39:50
Right. And that didn't change until,
39:52
what, 1974? So you've got 40 years where
39:57
people weren't allowed to invest in gold as an asset.
40:01
It set the whole system up. For the ultimate Unicorn fart
40:06
dust. Conversion.
40:07
So from 1933 to 1974, you are 75, whatever it was, you
40:12
couldn't own gold. Well then, right then in 1971,
40:17
Nixon took the United States off the gold standard, right?
40:21
And they created the COMEX and the LBMA, which were
40:25
specifically, I'm saying create the LBMA, but the COMEX.
40:28
But those exchanges and those futures contracts were were
40:32
explicitly and it's documented. Created.
40:35
To, to, to induce volatility into the silver and gold price
40:39
and to discourage, and they wrote this out.
40:43
It's in black and white. Discourage people from investing
40:48
or hoarding, as they said, silver and gold, right?
40:52
So from 33 to 74 it was illegal. And then in 71, there was a
40:57
concerted, organized effort to dissuade Americans.
41:02
No wonder my mom and dad never taught me about silver and gold.
41:05
I know Susie's parents weren't stackers.
41:08
I don't know anybody really whose parents were stackers.
41:12
Right? It's very few.
41:13
And far between I will say. To my uncle, they give me silver
41:18
dollars for Christmas and my birthday without in the 70s.
41:22
OK. Thank you, Susie.
41:25
And you guys may notice Susie has a new chair here.
41:27
She bought herself a new chair. It's an Adirondack.
41:30
Whoa. And it actually works a lot
41:32
better that Susie. For those of you who are new,
41:35
that's on the walkie-talkie. She's really the boss of the
41:38
basement. And she mentioned that her one
41:40
of her uncles would give her silver dollars every year.
41:43
You haven't drank a coffee. We're not done talking about
41:46
this yet. Basement dwellers, No.
41:54
We are. Excuse me?
41:58
No, we are not OK because. Because as a result of all this,
42:05
in the United States, none of us, nobody knows about silver
42:08
and gold. I'm going to go circle back to
42:10
something we talked about earlier, OK?
42:13
I call it the rule of eight. You want to talk about the, the,
42:16
the value of your silver, the value of your gold possibly
42:20
going up by 3 * 4 * 10 times in value.
42:25
Guys, remember in the 70s, that's what happened.
42:29
It went up even more in value. It's OK to believe that that
42:34
could happen again because it can happen again.
42:37
I'm not going to say it absolutely will.
42:40
But if you compare, if you compare the macro environment
42:45
that we're in right now, the national debt, the bricks being
42:49
formed, just those two things alone, right?
42:52
To what we had in the 1970s. We're in much more extreme
42:57
circumstances right now. And in the 70s, yes, right.
43:03
Silver and gold skyrocketed. A lot of people say because of
43:07
stagflation, are we in stagflation?
43:09
Do we have a stagnant economy now?
43:11
Yes, right. Do we have inflation?
43:14
Yes, right. So we can have interest rates go
43:18
up. All this all this noise, but the
43:20
bottom line is the value of these, the value of these is
43:27
going down. OK, I'm going to show you
43:30
something that I believe the value of will be going up and up
43:34
and it's one of my favorite coins of all time.
43:36
I absolutely love them and I kind of fell out of love with
43:39
them. I never disliked them, but I'm
43:41
going to show you what's in here, OK?
43:44
Because just as I got these from my off site storage location,
43:52
just as the value of that paper money was going down, right, The
43:57
value of this is going up. Oh, yeah.
44:01
Look, I got to get the right angle.
44:03
Look at that. OK, That's a crew grant, a South
44:07
African crew grant. The value of that is going up,
44:13
and it will continue to go up everywhere else in the world.
44:19
Everywhere with maybe the exception of some of the other
44:22
big G7 economies. Canada, right, Parts of Europe,
44:27
although they're crazy about gold and silver in Europe.
44:30
In Germany and France, OK, but everywhere else in the world?
44:34
People are becoming more and more crazy about silver and
44:39
crazy. About Gold, Listen to this.
44:42
Listen to this. There's like like a craze going
44:47
on in in Vietnam right now. We looked at an article earlier
44:51
in the week that like six of the big state banks in Vietnam
44:54
started selling gold and there were like lines of mobs of
44:58
people to buy the gold. Two more state-run Vietnamese
45:03
banks start online gold bullion sale.
45:06
Got gold, got silver. This is from our friend John
45:09
Little at the Silver Academy. Look at that.
45:12
Wow, isn't that beautiful, huh? Gold bars state-run Vietnamese
45:17
lenders BIDV and Agri Bank announced that they began
45:22
selling gold bullions online from Monday.
45:25
OK Earlier, Viet Com Bank, another state-run local bank,
45:28
announced it its online gold bullion sales service on
45:32
Wednesday of last week. And did you hear this about
45:34
Vietnam? Vladimir Putin, who's just now
45:39
in South, I'm sorry, North Korea, right?
45:42
One of their big allies is next going to go visit Vietnam and
45:46
the Americans are not happy about it.
45:49
OK, but none the less the Vietnamese are going crazy.
45:54
At BIDB, customers can register gold purchases.
45:57
The bank will refuse new registrations when it receives
46:00
enough registrations during the handling day.
46:03
Customers successfully making registrations and it goes
46:06
through the whole process of the in the in the Vietnamese central
46:11
bank is involved and let's go here OK we're going to come to
46:16
that one here in one second The the the demand for gold
46:19
throughout the world the demand for silver is just absolutely
46:25
staggering. Let's go back to gold quickly
46:28
here and I want to talk to you about the price where we are
46:33
with the gold price because the gold price will have a major
46:36
impact on the silver price. You guys, I'm getting some I'm
46:40
getting some hate mail lately, like people complaining about
46:43
the gold price not going up, going crazy.
46:46
Thank you, Daniel, Hold on here says I would love an episode
46:51
about the military uses of silver.
46:53
Yes, I will do that, Daniel. Thank you.
46:56
Our friend John Little. Let me show you this.
46:59
If you get it's unbelievable the amount of silver that's being
47:02
used by the military industrial complex, not just in the United
47:07
States, but throughout the entire world.
47:10
OK, And here's the here's the the the kicker that a lot of
47:15
people forget to think about and thank you for that super chat,
47:18
Daniel. When it comes to the silver
47:21
that's being used by the military industrial complex,
47:25
it's not reported. It's all kept, you know, like
47:28
most weapons related data is secret.
47:32
So we don't really know for sure.
47:35
Now, I know Andy Scheckman and a lot of people, it's pretty much
47:38
accepted that like there's 500 ounces of silver in each
47:43
Tomahawk missile, right? That's like a whole monster box
47:46
of silver in each missile, each Tomahawk missile.
47:50
So we don't really know. I'm going to run out here real
47:53
quick. John had a site called silver
47:58
Bear with me one second here. Let's see if I can pull this up
48:02
for you guys real quick. I think you can still see me.
48:04
Hello, Silver wars. Now it's not working.
48:13
I'll pull it up. But there's there's a, a website
48:16
where they really dug in to the amount of silver being used in
48:20
the military industrial complex. And it absolutely is just
48:24
staggering right now. OK, guys.
48:27
And again, that is not accounted for.
48:29
Some people speculate that the actual amount of silver being
48:33
used by the militaries throughout the world.
48:36
It's not just the United States. You got to remember, China is
48:41
has a massive military. Obviously Russia has a massive
48:44
military and nobody knows for sure how much silver is being
48:50
used. Some people have even speculated
48:52
that that's part of the reason why the price is silver.
48:55
Brad, did you catch Daniel? Super chat.
48:58
No, I didn't. Thank you, Susie.
49:02
There's Susie right next to the Krugerrand.
49:04
Silver Susie. Silver Susie.
49:07
Let's go out and say thank you. I got missed the Super chat
49:13
here. Bear with me and Daniel.
49:16
Yes, I did get Daniel. Thank you Daniel again.
49:19
OK, but but the the amount of silver beans.
49:22
Let's talk about the gold market.
49:23
Sorry, I'm I'm got a little all over the place on you there.
49:27
I'm going to go back. I'm always tempted to talk about
49:31
these as we go through this. But let's go back.
49:37
There's the Comex. We are heading back to chart
49:40
#18. OK guys, here you are.
49:45
We got to remember this, especially now.
49:48
Remember the chart we looked at from the bald guy?
49:50
June is a difficult month for the gold price and the silver
49:53
price. Historically a bull market does
49:56
not just go straight straight straight up.
49:59
There are pull backs. We hit about 2450 on the gold
50:05
price. What a month ago, month and a
50:07
half ago possibly we're in a little bit of a pullback now,
50:12
2300 range, a little bit above 2300.
50:15
When you look at this chart, that's where I put that arrow.
50:19
Are we there now? Are we consolidating and
50:23
preparing for a move higher in the gold price?
50:27
I believe we are. OK, that's a bull market, right?
50:33
This is a bear market. I don't believe we're there.
50:35
We've been there. We we suffered through that over
50:38
two or three years, OK, where we hit a high and then a low.
50:43
No, we are here where we hit a high, we're coming back down,
50:47
consolidating at a little bit of a, what would be called a
50:50
higher, a low, a lower high anyway, you know what I mean?
50:55
And from there we can move higher.
50:57
I talked with Keith Newmayer, I don't know, six weeks ago, seven
51:01
weeks ago, he talked about the massive bull market that we had
51:06
in the silver and gold price. See if I can pull this chart up.
51:11
There's a great one. Those are Chinese people in line
51:14
for gold. Hold on, I'm gonna show you
51:16
another way to look at the gold bull market.
51:18
And again, this, this has everything.
51:20
Oh, we got one more. Oh, we got one more.
51:22
Big bonus. Here we go.
51:24
Here we go this visualizing gold, bull and bear markets.
51:28
The yellow are bull markets. And so remember from about 2000
51:33
through 2000, what, 11, right? We had massive bull markets in
51:39
gold, the yellow, OK, Keith Neumeyer, he said, yeah, I
51:43
remember that. He's like.
51:44
And it was like it would go up and then it would come down and
51:48
everybody would think, oh, it's over.
51:49
Oh, it's. And some people are feeling that
51:51
right now, frustration with gold and oh, silver, Oh my gosh,
51:54
silver went to $32 and now it's back to 29 dollars.
51:59
Oh, it's the end. No.
52:01
Right. Right.
52:02
That's the way a bull market works.
52:03
It goes up, then it pulls back a little bit and keeps going
52:07
higher and higher. Now I believe we're in a gold
52:10
bull market right now. I don't have a crystal ball, but
52:12
if we are indeed, this is normal.
52:15
This is normal. And that's what Keith said.
52:17
He's like, the price would go up, then it would pull back and
52:20
everybody would think it was over and then it would shoot up
52:22
again and then it would pull back and everybody would think
52:25
it was over. Oh, the bull market's over.
52:28
And then two or three months later, it would shoot up again.
52:32
So that's what we're looking at. And if we look at this chart and
52:34
go over to the right, you can see that this move, right, These
52:39
are big moves, 300%, 150 percent, 167 percent, 96%.
52:46
We barely had a move, guys. So we could have some massive,
52:50
massive moves in the silver and gold price.
52:52
Let's go check. We did get some some breaking
52:56
news. Our friend the Shanghai Ghost,
52:59
right, Oriental Ghost. I'm always saying that wrong.
53:01
I apologize. Oriental Ghost, but he shares
53:05
with us here. Here we are.
53:08
What the heck. Hold on here, guys.
53:10
Add the stage. Sorry about that Oriental ghost.
53:16
Make sure you can see that. Yes.
53:18
OK, a new another new record. OK, Silver vaults in the
53:24
Shanghai Futures Exchange dropped to a new low today, June
53:27
19th. The market data on the Shanghai
53:29
Gold Exchange and Futures Exchange.
53:31
Let's just check right. Shanghai Gold Exchange Silver AG
53:37
right there, $33.00 an ounce silver on the Shanghai Futures
53:43
Exchange, 3330 per oz. But the important thing here,
53:47
the silver bolts of the Shanghai Futures Exchange dropped to a
53:51
new low since 2020. And look, here's a graph, guys.
53:57
The amount of silver at the Shanghai Futures Exchange
54:00
continues to plummet. Lois, since 2020, We know what
54:05
happened in 2020, right? I mean, silver was gone.
54:09
So we're going to keep a close eye on this.
54:11
I'm going to keep a close eye on you.
54:13
I know that we will together be able to survive the storm.
54:18
I believe we're heading into a. Do you believe that right now we
54:22
are heading into a massive storm for the end of the year?
54:26
Think about, think about just just I don't want to scare you.
54:29
So if you don't want to be scared, you might want to go
54:32
like Coin Shop Chris always says go watch a Roadrunner cartoon.
54:35
By the way, Speaking of Coin Shop Chris, do you remember Coin
54:39
Shop Chris? He's an integral part of Ron's
54:42
basement in helping grow this community, grow this channel.
54:45
Well, I got some good news for you, Coin.
54:47
Coin Shop Chris has his own YouTube channel.
54:51
Actually, there's probably a link to it in the description of
54:53
this video or you can just look it up.
54:55
He's making great videos and his videos are a lot more focused on
55:00
actual silver coins and investing.
55:03
So do. Do me a.
55:04
Favor and go check out coin shop Chris and subscribe to his
55:08
channel. He's got some really great
55:09
content and he's a great guy and most honest good guy really
55:14
cares about people compares about cares about the basement
55:19
dwellers. Easy easy for me to say.
55:22
But as we move into this six months right now, like, again,
55:27
if you don't want to be scared, you better go go for a walk or
55:32
something else. But think about what's on the
55:34
horizon, right? And it hasn't even, we haven't
55:38
really felt any turbulence yet from the election that's coming
55:42
up in November. Right, we got.
55:44
Five months now, OK, five months ahead of us, where political
55:50
social upheaval could happen in this country.
55:53
But on top of that, the there's a massive bricks meeting later
55:57
this summer, right? They could usher in, people are
56:00
talking again about the gold backed currency, right?
56:03
The unit and project in bridge and and and, and, and, and a
56:09
gold backed currency that could be backed by as much as gold,
56:12
40% gold. Look, it's a lot of speculation.
56:14
I'm not saying, but I'm just telling you what the chatter is
56:18
out there. We know that geopolitically,
56:21
right? War everywhere, Middle East,
56:24
Europe. I mean, it's unbelievable.
56:27
Could you, could you, could you imagine if you were down here
56:31
with me, us together, but seven years ago and I told you that
56:36
the war, the debt level in the country, the inflation problem
56:40
in the country, the consumer in the United States is dying.
56:46
The middle class is everywhere is dying, right?
56:50
And this is all confluing a confluence, one of our favorite
56:55
words. Right, in the next four or five,
56:58
six months, right, we're still just now probably in the heat of
57:04
the impact of what was a record fast rising.
57:10
Of interest rates we need. OK, hold on Susie.
57:13
I'll let you tell every Susie, please repeat that for all the
57:16
basement dwellers. OK?
57:23
You sound like the Peanuts teacher.
57:26
What she said was right. That's what I heard.
57:31
No. Anyway, she said we need 12 more
57:32
thumbs up and we're going to ring the gong.
57:34
Yes, the golden gong. Hold on.
57:37
Let me. Get it for you.
57:46
OK, if you give us those thumbs up, we're going to give you 3
57:49
rings of the resonating golden gong.
57:52
Nothing resonates like gold, I tell you.
57:54
And no, that's not made out of real gold.
57:56
But we like to make believe it's made out of real gold.
57:59
It's made out of real gold just about as much as this, right?
58:04
This this is movie money. Might as well be OK, This is
58:11
that's, that's like like this is real value, right?
58:14
Or you know this, remember, right, we got the gong.
58:20
OK, We're going to ring the gong, boy, I'm going in many
58:22
different directions. Let me finish with the doom and
58:24
gloom, guys. It's coming, OK?
58:27
It's coming. Coming to a shore near you in
58:30
the next five to six months. I would be prepared, OK?
58:34
And there's even more. I can't remember everything all
58:37
at once, but major election issues.
58:40
Oh, my gosh. And anyway, I won't.
58:43
This is not a political show, but you know what's going on
58:47
with our current president right now anyway, Major economic
58:53
issues, major debt issues in this country, in a world which
58:58
is rejecting the United States, a world that just at a.
59:03
Time when we need we guys, this is a this is a fact.
59:08
We need the world. To need our debt more than ever,
59:12
right, We need the world to loan money to the United States.
59:16
That's what China did over the last 20 years.
59:18
That's what Saudi Arabia did over the last 50 years that
59:21
allowed us to live beyond our means.
59:24
And now we have. More of a need than ever, right?
59:29
Let's go out and look at the US debt clock real quick, right?
59:32
This, this, this is, this is pure hold on here.
59:38
This this is. Probably right.
59:47
Oh, it went up again. 34 trillion.
59:49
We're almost to $35 trillion. We need the world to need our
59:55
dollar more than ever. Just.
59:57
At a time when the world is rejecting the dollar now it's
1:00:02
not happening overnight, but de dollarization is real BRICS
1:00:06
countries moving away from the dollar is real, right Project in
1:00:11
bridge all these different agreements, the different
1:00:14
countries, the the the Chinese buying oil from the Saudis
1:00:19
essentially for gold no longer using U.S. dollars right.
1:00:24
I mean it listen to the speeches.
1:00:26
It's not on CNN. Right, you got to dig in.
1:00:29
But when you listen to what these and you and you listen to
1:00:32
their speeches and you look at their actions, it's happening
1:00:36
right now. So this is not a pleasant
1:00:39
situation for our children and grandchildren.
1:00:43
Hey, the dollar to silver ratio popped up a little bit.
1:00:46
Now we're at 164. Dollars out this is.
1:00:49
Real to me? Is this real to you?
1:00:51
I'll tell you why that number is real, $164 per oz, because what
1:00:56
that number means to think of it very simply is that for each new
1:01:02
one ounce of silver, each ounce of silver that's dug up out of
1:01:06
the ground this year, each one ounce, there's $164.00 of paper.
1:01:12
Make believe Unicorn fart does money that's created.
1:01:16
That's based off of this number over here.
1:01:19
The USM two money supply, which you can see is increasing at a
1:01:25
healthy rate right now. Let's ring the gong.
1:01:28
We get 3300 thumbs up. Hold on here, almost missed you.
1:01:33
There you are. OK, 300 thumbs up.
1:01:37
Let's ring the gong. Listen to it resonate.
1:01:49
Oh brother, where'd my notes go? I lost my notes.
1:01:52
Oh my gosh, One more thing. You ever, ever, ever, ever, ever
1:01:59
think that the world is looking at the United States like a
1:02:02
bully? Not do you think you think maybe
1:02:05
the United States or the the United States is viewed as a
1:02:07
bully around the world? Listen to this.
1:02:10
Listen to what Chinese President Xi had to say about up wrong
1:02:14
one. Where'd it go?
1:02:16
Here it is on Zero Hedge. Excuse me, Chinese President Xi
1:02:20
said the US is trying to goad Beijing into attacking Taiwan.
1:02:26
He told the European Commission head Ursula von der Lew that the
1:02:31
United States was trying to quote goad Beijing into
1:02:34
attacking Taiwan. Who knows if this is true, but
1:02:39
basically he said that the US down here was trying to trick
1:02:43
China into invading Taiwan and that he would not take the bait.
1:02:47
I mean, all we hear from our media is that, oh, be afraid of
1:02:52
China, be afraid of China. They're going to invade poor
1:02:54
little Taiwan and we're trying to protect the Taiwanese and
1:02:58
blah, blah, blah. But when you listen, excuse me
1:03:02
to what the Chinese president says, it's a little bit of a
1:03:05
different story. He's like, the US is trying to
1:03:07
trick us. Trick us.
1:03:11
I mean, who knows, right? Both of these leaders say
1:03:15
different things, but I found that very interesting.
1:03:18
Hey, thank you for being here with me today in the basement.
1:03:21
It really is a big deal to Susie and I, and we appreciate your
1:03:26
support. Do me a.
1:03:27
Favor, please support our support our sponsors, right
1:03:31
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to get your hands on some gold, silver or platinum group medals
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and you want to get the most medal for your money.
1:03:58
Number one, I hope you feel like you belong here because you do
1:04:01
belong here. What a great community of
1:04:04
people. Susie and I thank you for
1:04:06
joining us, and we'll see you again soon.