Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 SILVER Price Goes LIMIT UP In CHINA 🚨 - (What About GOLD Price and USA)

Transcript

🚨 SILVER Price Goes LIMIT UP In CHINA 🚨 - (What About GOLD Price and USA) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:02
  It gets even crazier in the silver markets.
• 0:05
  Nobody told you that it was going to be simple and easy,
• 0:09
  that we weren't going to hit some bumps in the road.
• 0:12
  Well, last night everybody's jumping for joy.
• 0:15
  Silver again, going through the roof, but this morning we wake
• 0:20
  up to a red silver price. We're going to talk about gold
• 0:24
  as well, but let's focus in on silver right now because there's
• 0:28
  so much interesting going on. We had more records in the
• 0:33
  silver market that we're going to cover in this video.
• 0:36
  We're going to talk about if the rally for silver's over, are we
• 0:40
  going to be talking about $25 silver next week?
• 0:44
  You'll get my thoughts on that. But we also have super
• 0:47
  interesting developments in the silver chart.
• 0:51
  I've got some new charts that we're going to, we're going to
• 0:53
  look at that we'll get very, very excited about.
• 0:57
  And a graph, an update of a graph, the silver rainbow graph,
• 1:02
  we'll talk about that as well. What is going on with the world
• 1:06
  leaders? We're going to touch on
• 1:07
  geopolitical craziness like we haven't seen for decades and
• 1:13
  decades. Let's get started right now
• 1:15
  though, guys. Everybody was jumping for joy
• 1:18
  last night. OK, Silver was limit up on the
• 1:22
  Shanghai Futures Exchange a record.
• 1:26
  We're going to get more into detail on that in one second.
• 1:30
  But this morning did you notice, do you think it do you think do
• 1:33
  you think it has anything at all to do with the the COMEX and the
• 1:37
  LBMA opening that silver in particular and gold for that
• 1:42
  matter got beat down. Now I just have to wonder and I
• 1:47
  would be very interested to hear that this is not the case, that
• 1:52
  over this period of time where silver was beat down, I bet they
• 1:56
  traded in paper silver, make believe Unicorn fart dust
• 2:00
  silver, right. Futures contracts.
• 2:03
  We know that's a big manipulated bunch of BS, but I guarantee you
• 2:08
  they traded paper silver. That's like the equivalent of
• 2:11
  20%, thirty, maybe 40% of the entire annual mining output.
• 2:18
  That's what happens when we get these beat downs, guys.
• 2:21
  In the matter of 30 minutes, sometimes in the matter of an
• 2:23
  hour or two, we'll have the equivalent of like 20 percent,
• 2:27
  30% or more of the world's mining silver production traded
• 2:32
  paper, Unicorn fart dust. Let's call it what it is.
• 2:36
  We're awful early in the live stream to be talking about
• 2:39
  Unicorn fart dust, but that's what it is, That Comex, paper.
• 2:42
  Silver. Gold for that matter as well.
• 2:45
  Platinum for that matter as well.
• 2:47
  Palladium for that matter as well.
• 2:52
  Let's talk about wild swings. Are you OK?
• 2:55
  I'm gonna, I'm gonna, I'm gonna tell you that we need to take a
• 2:57
  step back and think about these wild, crazy swings in the silver
• 3:03
  market and how they're actually OK.
• 3:06
  Everything's gonna be OK, buttercup, 'cause I want to
• 3:09
  point something out to you. If we're going to have wild
• 3:13
  upward swings, I'm going to tell you, you're my friend, so I'm
• 3:16
  going to be honest with you here.
• 3:17
  If we're going to have wild upward great party time swings
• 3:23
  in the silver market like we had on Friday, heck, like we were
• 3:27
  kind of having last night, the other side of that equation is
• 3:32
  we're also going to have wild downward swings.
• 3:35
  OK, that's just the reality. The price of silver, the price
• 3:39
  of gold are not just going to go straight up.
• 3:42
  No, they're going to go whoa, whoa, whoa, whoa.
• 3:45
  But here's the critical thing that you need to remember.
• 3:49
  These wild swings are actually good if we're going to have a
• 3:52
  wild upward price movement in silver.
• 3:56
  And we know that's what we're headed toward, right in the long
• 3:59
  run. We know we talked about it a
• 4:02
  year ago. We talked about six months ago,
• 4:05
  three months ago when we were sitting down here.
• 4:08
  Remember 3 months ago, basement dwellers, $22.00 silver.
• 4:12
  I was running off to buy American Silver Eagles for $2526
• 4:18
  each. OK, And we said the price in the
• 4:21
  long run. We know the value proposition in
• 4:25
  these metals, OK, is up, up, up, up, up.
• 4:28
  If we're gonna have wild upward movements, we're gonna have wild
• 4:32
  downward movements, too. But what's the big key take
• 4:35
  away? The big wild downward movements.
• 4:38
  They're no fun. They're gonna happen.
• 4:40
  We're you're Buckle up, buttercup.
• 4:42
  You're a big boy and a big girl. So am I, right?
• 4:46
  We're gonna have this. It's gonna happen.
• 4:48
  But the big key that we need to remember these wild movements
• 4:52
  are good up and down as long as the long term trend is up.
• 4:58
  Here, let's just take a quick look at this just so we can
• 5:02
  review. Hold on, here we go.
• 5:07
  I think it's in here. There it is.
• 5:11
  I found it. Right.
• 5:13
  That's a bull market. OK.
• 5:15
  So this is the key. You see that graph?
• 5:17
  There's big up moves and big down moves, but the long term
• 5:22
  trend is up, up, up. And what the heck word is
• 5:25
  looking at it in Unicorn fart does Fiat dollars anyway, but
• 5:31
  nonetheless, that's what we're trained to do.
• 5:33
  As long as the long term trend is up, the up, the down, the
• 5:37
  crazy down swings are OK as well.
• 5:40
  I know, and I even I have a hard time accepting that.
• 5:43
  It's no fun, right? I went to Betty Boom boom time
• 5:46
  last night. I kissed Susie goodnight and I'm
• 5:47
  like, Man Silver's up a buck. And I was talking with Coin
• 5:51
  Shop, Chris and a couple of the other regulars on the channel
• 5:53
  and I'm like, we'll see what it's like in the morning, right?
• 5:56
  And I was optimistic, but I was also realistic.
• 6:00
  And it's OK that we have wild downward swings as long as the
• 6:04
  long term trend is up. But wait, there's more.
• 6:07
  OK, OK. Because when we're talking about
• 6:10
  silver, you want to feel good, warm and fuzzy.
• 6:13
  Do you like rainbows? Remember that song by Genesis,
• 6:16
  The Silver rainbow? Does anybody remember that I
• 6:18
  used to love when I was a kid? That band.
• 6:19
  Genesis. Phil Collins.
• 6:21
  The Silver Rainbow. Let's revisit this because I've
• 6:26
  updated this chart and it's something that I think, I think
• 6:31
  that this has potential to go viral.
• 6:33
  And for Ron's basement, viral means like 5000 people look at
• 6:37
  it. Let me pull this up.
• 6:38
  OK. There you go, guys.
• 6:40
  Another detailed chart from Ron. This is the silver rainbow.
• 6:44
  If you're a silver investor, you know there's a pot of gold at
• 6:47
  the end of the rainbow. The little Irish guy, right?
• 6:51
  Oh, there's a pot of gold. Well, guess what?
• 6:52
  There's a pot, A bigger pot. There's a swimming pool full of
• 6:55
  silver because this is the silver rainbow.
• 6:59
  I want you to look right at the middle of the screen where it
• 7:01
  says silver. OK?
• 7:03
  Just stay with me. I'm going to tell you what color
• 7:05
  to look at. Look at the purple.
• 7:07
  Silver's half pink and half purple.
• 7:10
  The purple side is the orange monetary, right?
• 7:14
  Half, half the value of silver is derived from its monetary
• 7:18
  basis, so it's half related to gold.
• 7:21
  Silver on the pink side is related to copper.
• 7:24
  That's the half of silver. That's an industrial metal.
• 7:29
  OK, so silver's like bipolar stuck in the middle, right?
• 7:33
  Not sure if it's an industrial metal or monetary metal, but
• 7:37
  guess what guys, It's both. That's right, you get you get 2
• 7:42
  for the price of one when you own silver.
• 7:45
  But what's crazy? What's absolutely crazy?
• 7:48
  And this is an updated file. I know I showed you part of this
• 7:50
  yesterday. This is Part 2.
• 7:53
  Is that gold? The two things that silver are
• 7:56
  related to gold's at an all time high.
• 7:59
  Oh that half. That Half the monetary half's at
• 8:02
  an all time high. What about the industrial half?
• 8:05
  Copper is at an all time high copper.
• 8:09
  See the yellow just had a squeeze.
• 8:12
  Oh interesting. And gold.
• 8:14
  We know the CBSI didn't have enough room to write that in and
• 8:17
  I was too lazy to redo this. Guy already colored it all in.
• 8:20
  Are the central banks are buying gold?
• 8:23
  Think about those, those, those those qualities of what silver
• 8:28
  is so related to with gold. Central banks all time high,
• 8:33
  Copper a squeeze all time high. And there's silver.
• 8:37
  Silver is right there. Silver is related, definitely.
• 8:42
  It's like gold's 1/2 brother and and copper's 1/2 brother.
• 8:45
  But there's one final thing and that's what I've got underlined
• 8:49
  in red at the bottom. The fundamentals for silver are
• 8:55
  better even, I'll even say than gold.
• 8:59
  And for copper the fundamentals and the price is about still
• 9:09
  what, 62% of its all time. While copper and gold are
• 9:13
  hitting all time highs, silver and and going above all time
• 9:17
  highs, silver silver's like 55% of its all time high.
• 9:22
  I mean it's absolutely crazy. Silver has better fundamentals
• 9:27
  I'll argue than copper or gold, OK.
• 9:30
  And silver still still right and and and fulfills both the
• 9:35
  monetary and the industrial characteristic perfectly And
• 9:40
  silver is still it's such a massive discount it doesn't make
• 9:44
  sense. So if you're if you're wondering
• 9:47
  questioning your investment in silver, right we got we got to
• 9:52
  look at that. What about let's talk about
• 9:53
  records and the silver price. OK, let's go.
• 9:58
  Hold on here. Here we go.
• 10:00
  Let's go out here. OK.
• 10:06
  This is from our friend, the Oriental Ghost.
• 10:09
  I think I've been calling him the Shanghai Ghost.
• 10:11
  He's the Oriental Ghost. Calls himself that.
• 10:14
  OK, New High. What does it mean if we've got
• 10:18
  this is I need to get this right because it's a it's a can be a
• 10:21
  little. There's so much going on with
• 10:24
  gold and silver. We got to keep this straight.
• 10:26
  OK, I'm going to read you my notes, but this is from the
• 10:29
  Oriental Ghost. All right, He says new high gold
• 10:34
  and silver on the Shanghai Gold Exchange in the Shanghai Futures
• 10:38
  Exchange. New high prices.
• 10:40
  So let's go down. OK.
• 10:42
  AG, this is for May 20th silver. That's AG $35.38 per oz Silver
• 10:50
  on the Shanghai Futures Exchange. 3530 gold on the gold
• 10:54
  Exchange 30 I'm sorry, $2468 on the futures exchange.
• 11:02
  Holy moly, we are getting close. Gold on the Shanghai Futures
• 11:08
  Exchange in U.S. dollars closed at $2488.00.
• 11:14
  So we have new record prices. But wait, there's more.
• 11:17
  There's records. OK.
• 11:20
  The Shanghai Future Exchange, Silver hit its daily limit up
• 11:25
  and kept it until the close. That means they only let silver
• 11:30
  go up so much. That's the limit on the Shanghai
• 11:33
  Futures Exchange. It hit it and stayed there all
• 11:37
  the way through the close. What is that telling us?
• 11:41
  Remember China, India taking control of the silver market?
• 11:47
  We're going to talk more proof about that later during this
• 11:50
  live stream silver vaults. OK, so we got record prices on
• 11:55
  the Shanghai Gold Exchange and the Shanghai Futures Exchange.
• 11:58
  We've got silver hitting daily limit up.
• 12:01
  But also to add a little more joy to your life, I can tell you
• 12:04
  that Silver Volts on the Shanghai Gold Exchange and the
• 12:07
  Shanghai Futures Exchange continue to drop, reaching a new
• 12:12
  record low since 2020. OK, yeah.
• 12:18
  Uh huh. And you're going to tell me that
• 12:22
  there's not a bright future, A bright, shiny white silver
• 12:25
  future for silver. Speaking of which, nothing makes
• 12:28
  me happier than when I get silver in the mail.
• 12:30
  I can't lie to you guys and the people over at the Sound Money
• 12:35
  Society. They sent me the sticker.
• 12:38
  OK, this is really cool and I need to check them out some
• 12:42
  more, but they also sent me this really cool.
• 12:46
  Let me show you this real quickly what I think is super
• 12:50
  cool. I love little small things.
• 12:53
  And I got this. Look at this.
• 12:55
  It's a 5 gram. Oh wow, gosh, look at Oh my
• 12:58
  gosh, you can totally see. Oh boy, does silver have
• 13:02
  reflective qualities. You can see yourself in that.
• 13:05
  A cool little silver bar. So thank you to the guys at the
• 13:08
  Sound Money Society. They also sent me some great
• 13:11
  T-shirts. I'm going to show you those in
• 13:13
  later live streams. OK.
• 13:16
  OK. Oh, hey, let's go back here.
• 13:18
  jd.com. We also know from our friend
• 13:22
  Rod. Make sure you think Jay was it
• 13:25
  for the Super cat. I will.
• 13:26
  Thank you, Susie. Let's go back and see if we can
• 13:30
  pull this up. And we.
• 13:32
  I mean, I I love this. Oriental goes, here we go.
• 13:36
  Here we go. jd.com. Do you know what Amazon is?
• 13:41
  Amazon.com. Correct.
• 13:43
  You buy toilet paper, you buy whatever, You buy from Amazon.
• 13:46
  All kinds of stuff. OK.
• 13:48
  In China, they have jd.com. OK, The largest e-commerce
• 13:53
  platform. Let me go down here.
• 13:56
  The largest e-commerce platform in China has the highest online
• 14:00
  sales volume of silver bars. What does that tell us?
• 14:04
  That tells us that's a good proxy for what silver is selling
• 14:09
  for in China to retail investors.
• 14:12
  On May 18th, the price got up to $38.56 and at some point here,
• 14:20
  here we go recently today. This is just from 7 hours ago
• 14:24
  right here guys. The price of silver bars in
• 14:28
  China $39.10. So to say this isn't happening
• 14:33
  all over the world is absolutely crazy.
• 14:36
  Let's talk about, we talked about copper, let's talk about
• 14:39
  copper quickly. Copper is so critical to the
• 14:43
  electrification of the planet. We talked about it's half
• 14:46
  brother relationship to silver and look what's happening with
• 14:50
  copper as well. Copper is the new oil and prices
• 14:54
  could soar 50%. What does that mean for silver?
• 14:58
  What is that? I'm telling you guys, you gotta,
• 15:01
  we gotta know this fact that silver is going to be majorly
• 15:06
  impacted by the gold price and the copper price, both of which
• 15:10
  are flying higher and higher. And and I'll repeat it one more
• 15:16
  time like I had underlined in red on the silver rainbow chart
• 15:19
  for you. The actual fundamentals for
• 15:22
  silver from an industrial perspective are just as good, if
• 15:26
  not better, I would argue better than copper.
• 15:29
  But what are they saying about copper?
• 15:30
  Copper's the new oil and prices could soar 50% as AI, green
• 15:36
  energy and military spending boost demand, top analyst
• 15:40
  commodities analysts say. OK, so we got to keep our eyes
• 15:43
  on copper as well. We got a lot to get through
• 15:48
  here. Silver shortage.
• 15:49
  What would it mean if Bloomberg Yes that Bloomberg right if they
• 15:55
  actually now are using the term silver shortage are they is
• 15:59
  mainstream media right? Not saying.
• 16:02
  Deficit not saying. Oh well, you know there's a
• 16:06
  we're using more silver. No.
• 16:07
  What if the mainstream media think about this is saying
• 16:11
  silver shortage. We're going to look at that in
• 16:13
  one second. Let's go though out and check on
• 16:18
  the silver and gold price. We never know.
• 16:20
  I'm going to update here. OK Gold down to cents.
• 16:23
  Silver down nine cents. Thank you.
• 16:26
  To our friends at Pimbex, thank you.
• 16:27
  To Pimbex. Pi, MB EX for sponsoring Ron's
• 16:32
  basement. Look guys, these live streams,
• 16:34
  these videos are not possible without the support of our
• 16:36
  sponsor. So please, please never tell you
• 16:39
  what to do. But you'll benefit next time
• 16:42
  you're going to buy some silver, gold, platinum, group metals
• 16:44
  online by checking out Pembex. OK, I found they check all the
• 16:50
  boxes. Trustworthy right?
• 16:52
  Great reputation, great selection and what gets me most
• 16:57
  excited. Because, as Susie likes to say,
• 17:00
  I'm a tight wad. But I like to say that I like to
• 17:03
  get the most when I'm converting paper, Unicorn, fart, dust,
• 17:08
  whatever you want to call it. Dollars.
• 17:13
  OK, thank you, Susie. To silver or gold.
• 17:16
  I want to get the most metal for my money.
• 17:18
  And I've always found that I get the most metal for my money at
• 17:21
  Pendeks. And on top of that, if you ever
• 17:25
  decide that you want to consider converting part or of an IRA
• 17:28
  into physical metal, consider what pembeks can do for you as
• 17:33
  well. All right, let's get back here.
• 17:34
  Let's look at each other. Wow, 800 people.
• 17:37
  Welcome to the base. It's Monday morning.
• 17:39
  Basement dwellers. We're partying.
• 17:42
  OK, this, this is. We are still in a bull market
• 17:46
  for the metals. I know you might had a little
• 17:49
  bit of miniature heartbreak this morning, but we're still in a
• 17:53
  bull market. Remember, nothing goes up in a
• 17:56
  straight line. Let's say thank you to the Super
• 17:59
  chats my friend. Jay Lizard.
• 18:02
  Good to see you. Looking good brother.
• 18:05
  Welcome to the basement Nima. If I have 10K to spend, what is
• 18:10
  the best kind of silver to buy to get a volume discount and
• 18:14
  minimize the premium? That's a great question.
• 18:17
  Make sure you're prudent. You know, I'm I'm not giving any
• 18:20
  financial advice here, NEMA, but but you know, it depends on your
• 18:24
  financial situation. If if let's say if let's say if
• 18:29
  a person only has a $10,000 total, you might want to dollar
• 18:36
  cost average. Be prudent, make like you know
• 18:39
  spend maybe 1000 a month or something like that on silver.
• 18:42
  I can't tell you what to do. However, if it comes to
• 18:46
  premiums, typically Susie was going to say something to me,
• 18:50
  but she didn't. If it when it comes to premiums
• 18:53
  right now, typically I think you're going to get more silver
• 18:57
  for your money with things like rounds or maybe 10 oz silver
• 19:02
  bars. OK.
• 19:03
  That's what I would look at. That's what that's what I
• 19:06
  typically had done in the past when premiums went up.
• 19:09
  I know that premiums are getting quite high again on American
• 19:12
  Silver Eagle, so consider that. Thank you.
• 19:14
  OK, let's get back to Bloomberg. Hold on here.
• 19:19
  What did our friends at Bloomberg say?
• 19:25
  Here we go. I just wanted to draw this to
• 19:31
  your attention, 'cause down in the lower right corner you'll
• 19:33
  see this is a chart from Bloomberg.
• 19:36
  And what you'll see at the top is says silver markets head for
• 19:41
  fourth straight year of shortages.
• 19:46
  Bloomberg is using the S word when it comes to silver, second
• 19:50
  highest deficit on record forecast for 2024.
• 19:55
  They put the source there, obviously, as the Silver
• 19:58
  Institute. Bloomberg is talking about it.
• 20:02
  Reuters will be next. Yahoo Finance will be next.
• 20:06
  And then, you know, even your neighbors will know that it's
• 20:09
  going on and it'll be too late for anybody to get silver.
• 20:13
  Did you do you have all the silver that you need right now?
• 20:17
  Not all of us do, right. Nima had a great question.
• 20:20
  What's the best way you want, you want to get and I'll repeat
• 20:23
  this, number one, be prudent with your investments, right.
• 20:27
  Don't put don't go all or nothing or any.
• 20:30
  That's just my opinion, not financial advice.
• 20:34
  But you want to look at two things, the premiums, just
• 20:37
  figure out how many ounces of good quality silver you're
• 20:40
  getting for your dollar. OK.
• 20:43
  All right. Because there's big price
• 20:44
  differentiations. I could say buy 10 oz bars but
• 20:48
  on one from 1 seller they the 10 oz bars per oz could cost more
• 20:54
  than what you could get. Let's say Auk Britannia on
• 20:57
  another site right? I found right.
• 21:00
  But shop around, do your own due diligence that I always get.
• 21:04
  Great, great great and same pricing you get from Pembeck.
• 21:08
  So anyway, as you're out there shopping around, compare prices,
• 21:13
  that's what I always recommend. Now do you have all the silver
• 21:17
  that you need? Is it going to be too late,
• 21:20
  right. We talked about this yesterday.
• 21:22
  We're early to the party, right? We showed up at the play, right?
• 21:27
  We showed up at the at the silver and gold production
• 21:30
  early. We've got a good seat.
• 21:33
  You can still buy tickets for the show, right?
• 21:36
  This online bullion dealer still have silver and gold.
• 21:39
  We can hit a point, guys. Absolutely right where they shut
• 21:44
  the doors. Sorry, no more, no more
• 21:48
  available. Be prepared.
• 21:50
  What are you going to do? If you thought about it?
• 21:53
  If you do, you have a plan, right?
• 21:55
  My plan's just to hold on to it. When I buy silver.
• 21:58
  When I and I and I'm a silver stacker, right?
• 22:00
  It's off site, tucked away. OK, I plan on it being a
• 22:05
  generational investment, but if it gets crazy, OK, if it.
• 22:10
  If it. If we get unbelievable up ticks
• 22:14
  in the price of silver, there may come a point where you want
• 22:17
  to convert some of your silver. But don't convert it.
• 22:22
  Don't. Don't now.
• 22:23
  I'm sorry. Do convert it.
• 22:25
  Don't sell it, 'cause when you sell it, OK, think about it.
• 22:30
  You're selling it most likely for paper money.
• 22:33
  Why would you want to go back into paper money when you
• 22:36
  electronic money? Maybe if there's some who knows
• 22:38
  how this all plays out right in the end.
• 22:41
  But you want to convert it. You want to convert it into
• 22:43
  other real assets, other real things.
• 22:46
  OK, Leanna. Thank you.
• 22:49
  Wow. Exciting times ahead go silver.
• 22:53
  Yes, it looks that way with feels like we are absolutely in
• 22:57
  a new new paradigm. I I don't want to be a tinfoil
• 23:01
  hat conspiracy theorist. OK.
• 23:04
  I'm only partially tinfoil. I'm skeptical.
• 23:07
  Right. We're not negative.
• 23:08
  Then people say, oh you're negative you're did you ever get
• 23:11
  that? Oh you you know you think the
• 23:13
  everything will be fine. Thank you, Leanna, for the OR.
• 23:16
  Leanne, I'm sorry for the Super chat.
• 23:19
  You're you're negative. You're a doomsayer.
• 23:21
  You're the town crier, you know. No, no.
• 23:25
  Let me tell you what you are, OK?
• 23:27
  You know how to operate a calculator.
• 23:30
  You know how to apply common sense to what's going on in the
• 23:33
  world geopolitically. And we're gonna talk about,
• 23:37
  we're just gonna talk about some weird things that are going on,
• 23:40
  right? Weird, recent, weird things.
• 23:42
  OK, You know what's going on if you live in the United States.
• 23:47
  And for those of you who don't, I'm gonna tell you things are
• 23:50
  getting bad in the United States.
• 23:52
  OK, not Oh my God, you know, zombie apocalypse.
• 23:57
  But the trend is not good in the United States, right?
• 24:01
  Since I was born in 1970, a middle American has nowhere near
• 24:07
  the lifestyle now that they had in like 50 years ago.
• 24:11
  Four. What, 50?
• 24:12
  Yeah, 5055 year. I'm 54.
• 24:15
  I shouldn't have to do that math, but none the less, right?
• 24:19
  I mean, look, my dad, right? He was.
• 24:22
  He was, He was. We were middle, middle class.
• 24:25
  We went to Disney World. We had a nice house.
• 24:27
  We had two cars. I went to a private grade school
• 24:30
  and high school, believe it or not, and college, the middle
• 24:33
  America, right? And that was off just my dad's
• 24:37
  job. That's gone.
• 24:38
  Things are crazy, right? Things on a personal level,
• 24:41
  That's why you and me, why we we decide to protect ourselves with
• 24:45
  precious metals. But does it make you this is
• 24:49
  this is two things have happened in the last week that are making
• 24:52
  my antenna go up. I'm not saying, you know, but is
• 24:55
  it does does it make you a little concerned?
• 24:58
  And this story did not get enough press, I don't think.
• 25:01
  But the president of Slovakia, right, Or the Prime Minister,
• 25:06
  who's basically the head guy in Slovakia, got shot last week.
• 25:11
  He survived, but barely. And then overnight we get this
• 25:15
  news that the president of Iran and the two of the top three
• 25:20
  people in Iran, their helicopter crashed, right?
• 25:23
  Maybe it's just all coincidence, OK.
• 25:26
  But maybe there's other things going on.
• 25:29
  Does it feel like the world like it's just weird, everything
• 25:33
  that's happening out there right now?
• 25:35
  And I think that that we need to be aware and we need to be alert
• 25:42
  as to what's going on. But let's get back to Silver and
• 25:45
  gold. That's what we're here for, huh?
• 25:47
  That's what we're here for. And this is great.
• 25:52
  King Kong 988888 says this, This is.
• 25:57
  Are you ready? Sit back for some crazy silver
• 26:00
  stats. Total annual global demand for
• 26:03
  silver equals 1.24 billion oz, not including military 'cause.
• 26:08
  We have no idea. OK, so we know 1.24 billion
• 26:12
  demanded, but we have no idea how much.
• 26:14
  The military actual is probably closer to 1.6 billion oz.
• 26:20
  Total annual silver supply is around 1 billion oz.
• 26:26
  OK, so in theory that means yeah, that there's like 600
• 26:31
  million oz extra demanded that are being that are being
• 26:35
  supplied right now. Global investors hold around 2
• 26:40
  billion ounces of silver. OK India alone imported around
• 26:46
  303,000,000 ounces of silver in 2022 and 100 and and 111,000,000
• 26:56
  ounces in 2023. In February alone, India
• 27:00
  imported 70 million Troy ounces of silver.
• 27:04
  OK, so I I want to point something out here.
• 27:07
  If we know that that, that, that roughly what he's estimating is
• 27:11
  that there's 600 million ounces of silver deficit right now and
• 27:16
  there's only two billion, that means we've got about three
• 27:19
  years of silver left right before.
• 27:23
  It's like, uh, oh boys, we've got a real problem, all right?
• 27:27
  If you think all physical silver holders are dumb enough, is that
• 27:33
  us to sell all their physical silver at $50.00 an ounce?
• 27:38
  Good luck to you. Also, it takes time for retail
• 27:42
  silver to flow into the exchanges and industries when it
• 27:47
  happens. Wow.
• 27:48
  OK, interesting, interesting market dynamics right now in the
• 27:55
  world of silver. OK.
• 27:57
  Let's go back to that real quickly because I'm going to go
• 27:59
  down and see what he was, what he was talking about.
• 28:04
  OK. Oh, that was from Silver Santa.
• 28:07
  OK. Thank you again Leanna for the
• 28:10
  Super chat. Thank you to the almost 1000 of
• 28:13
  you that are joining us right now, Silver.
• 28:17
  OK. So demand for Silver out of
• 28:19
  India is absolutely crazy. What does that tell us?
• 28:23
  But But China has been building massive stockpiles for decades.
• 28:30
  OK, massive. OK, a lot of doray bars are sent
• 28:35
  there. I heard someone proposing last
• 28:39
  night that JP Morgan was actually helping China.
• 28:43
  This is interesting. Over the last decade accumulate
• 28:47
  a massive amount of silver. Again, this is, I'm not saying
• 28:51
  this is reporting, this is fact, this was someone's opinion,
• 28:55
  someone who is putting the pieces together, OK.
• 28:59
  And that China possibly over the last decade they actually wanted
• 29:04
  low silver prices, OK, as they were accumulating.
• 29:07
  But now guys, this India story is crazy.
• 29:12
  India stockpiling silver. India's doing it right now and
• 29:16
  they're doing it for their for investment purposes, for their
• 29:19
  citizenry, but also India's doing it.
• 29:22
  Guys, the solar industry in India is exploding and this is,
• 29:27
  this is interest. This is crazy.
• 29:29
  When you think about India, they've got solar projects in in
• 29:33
  India right now that are bigger than all of Manhattan.
• 29:37
  I mean absolute insane size of the solar projects in every darn
• 29:44
  solar panel that's manufactured has silver in it, and every new
• 29:50
  solar panel, the newer technology, the top con
• 29:53
  technology actually has even more silver.
• 29:57
  There was this crazy term they were using as they were trying
• 30:00
  to reduce the amount of silver, but now the new technology
• 30:02
  requires I'm hearing up to 50% more silver.
• 30:06
  OK, 1.4 billion people in India. To put that into context, if you
• 30:13
  live in the United States of America, we have about, I think
• 30:16
  300 million. India has like over four times
• 30:20
  the amount of people. India's economy is growing.
• 30:25
  Indians have precious metals embedded within their souls.
• 30:30
  Talk to I talk to Indian people pretty much every day.
• 30:34
  You know all. I'm exposed to them all the
• 30:36
  time. There's a ton of Indian people,
• 30:38
  and I love them in Saint Louis. They're smart, they're
• 30:40
  successful, they're driven, blah, blah, blah.
• 30:43
  They love to talk. They love to talk about silver
• 30:46
  and gold because it's embedded in them.
• 30:50
  It's embedded from the time they're born, OK, to the time
• 30:53
  that they love gold, they love silver.
• 30:57
  Susie and I were at this museum in Kansas City.
• 30:59
  They have an awesome Art Museum. And I'm walking through and I
• 31:02
  get to this. I'm like, whoa.
• 31:03
  I see this bright, shiny light, and I'm like, what is that like?
• 31:08
  Whoa, hold on. I just dropped Susie.
• 31:11
  Sorry, guys. Are you OK?
• 31:13
  I am fine. Did you drop me here?
• 31:19
  Yes, I dropped you. I'm sorry.
• 31:22
  Hey, honey, do you remember when we were at the museum in Kansas
• 31:26
  City and what we saw? We're gonna have to sit a reset,
• 31:34
  man of all time. Sorry.
• 31:35
  That was poor shit. So we're what they There's this
• 31:36
  whole room with all these silver artifacts from the royalty in
• 31:41
  India, like a giant throne made out of silver.
• 31:45
  And I'm like, I want to sit on that.
• 31:47
  I want that for the basement. Anyway, Indians love silver.
• 31:51
  But what's crazier about India and silver guys, right?
• 31:57
  All those 1.4 billion people, their all their economies
• 32:01
  expanding faster and way faster, way faster.
• 32:04
  Their middle class is growing. Imagine that Maybe old Joe.
• 32:10
  Bidenomic Joe. It's working.
• 32:12
  Bidenomics. It's working, right?
• 32:15
  Maybe they should go learn something from the Indians.
• 32:18
  Their economy is expanding. Oh, remember four times as many
• 32:23
  people? Expanding economy, expanding
• 32:26
  middle class that loves silver, loves gold.
• 32:30
  OK, but what's even crazier? Half of the people in India do
• 32:36
  not have electricity. Let that sink in.
• 32:41
  Where are they going to get that electricity?
• 32:43
  Well, the world's bashing them for making coal-fired power
• 32:48
  plants. They're going to get it from
• 32:50
  solar. What does solar need, huh?
• 32:53
  Tons and tons and tons of silver.
• 32:57
  Put it all together, Eisenhower. I can't.
• 33:01
  I mean, it's it's the silver rainbow chart I showed you
• 33:05
  earlier, right? Alone.
• 33:08
  What gets us excited? But when you when you factor in
• 33:10
  these fundamental world, world, world, say it with me world
• 33:18
  right picture for the silver market, it's just it's
• 33:21
  absolutely crazy. So, So we know China now is
• 33:26
  China losing control of silver? Did China really want silver to
• 33:31
  stay low so they can suck it all in and suck it all up?
• 33:35
  OK, does India buying hordes and hordes of silver explain why the
• 33:42
  Comex deliveries are up? I want to show you why the
• 33:46
  registered silver. I want to show you a chart.
• 33:49
  This is interesting. And people are like, oh, you
• 33:51
  know, you you gotta did I I didn't show you this already.
• 33:56
  OK, hold on. I got something even better.
• 34:01
  OK, Comex Silver Vault. Let me get this on my screen so
• 34:07
  I can see it. There it is.
• 34:09
  Comex Silver vault amounts in ounces.
• 34:12
  OK. The blue line at the top,
• 34:16
  where's the darn thing? So I can tell.
• 34:19
  Well, the yellow line at the bottom is the registered
• 34:22
  inventory. That's the amount of Oz that are
• 34:25
  available to be delivered on contracts can actually are.
• 34:30
  That's the amount of silver that actually backs up all the paper
• 34:34
  Unicorn fart dust people are. And remember it went down.
• 34:37
  We all talk about it's down look oh the Comex and it did from
• 34:41
  2022 what from about what is that 100 million oz all the way
• 34:46
  down here to whatever it was at 20 whatever back in July.
• 34:51
  Then it started to go up and oh boop, it went up and and be like
• 34:55
  oh oh that there was there's a lot of silver available.
• 34:58
  What what what some people think might be happening is that that
• 35:05
  silver's being moved to register because people are are actually
• 35:09
  demanding that the silver be delivered on those contracts,
• 35:14
  right. Those leveraged contracts, the
• 35:16
  people that they're buying the Indians in the in the in the
• 35:20
  Chinese are buying these contracts and not saying no, we
• 35:22
  don't just want to trade paper silver.
• 35:25
  We got news for you. We actually want the silver
• 35:29
  because that's what the contract is actually for.
• 35:33
  So we'll see how how that all plays out.
• 35:36
  The top line, the blue line, is the eligible, which is really
• 35:39
  just a bunch of bunk in BS. We've covered that in previous
• 35:44
  in previous videos. OK, OK, so all this is
• 35:50
  happening. Let's take a step back 'cause it
• 35:54
  gets even crazier. All of this is happening in the
• 35:58
  silver markets, right? Right.
• 36:02
  OK, Thank you. Thank you guys for all the
• 36:04
  thumbs up. Thank you for the Super chats.
• 36:05
  But all of this is happening. The silver insanity, craziness.
• 36:10
  While in a bigger context, what is going on in the world, China
• 36:16
  and the world is also at the same time dumping the dollar,
• 36:22
  Dumping U.S. Treasuries, buying gold.
• 36:27
  It's it's it's just, it's unbelievable the set up that
• 36:30
  we're in right now, right now. Hey Bob Brown, let's see what
• 36:34
  Bob has to say. Bob says thank you for the Super
• 36:37
  chat, Bob. It's not just that the new
• 36:39
  panels take more silver, OK? He's talking about silver panels
• 36:43
  here. It's that it pulls that silver
• 36:46
  off the market. Good point, Bob.
• 36:50
  Bobby Brown. Hey, guys.
• 36:52
  Bob made a very great point. Something Whoa, Bob, right, All
• 36:57
  of us, new light bulb, screw in a new light bulb up there.
• 37:00
  If you're getting to be like me, we get a little older.
• 37:02
  There's not too many light bulbs up there that haven't been lit.
• 37:06
  But Bob just lit one for you. Silver investors, right, 'cause
• 37:10
  it's not just that the new panels take more silver, but
• 37:14
  what he brought up is something I've never thought about.
• 37:17
  Have you ever thought about this?
• 37:19
  But that silver that goes into those panels, it's gone for 25
• 37:25
  or 30 years, right? You can't use that.
• 37:27
  It's sitting there. It's off the market.
• 37:30
  Bye. Bye.
• 37:31
  Right. And I'm 54, that's, you know,
• 37:33
  I'll be 80 by the time they can take that silver back out.
• 37:36
  Great point, Bob. Wow, that's what I've always
• 37:40
  said about the the bronze basement.
• 37:42
  That's we can learn from each other.
• 37:44
  Leave comments in the comments section.
• 37:46
  Sorry, I can't read everyone and do the presentations at the same
• 37:50
  time, but we do read through them.
• 37:51
  I do read through them and you guys, that's how we learn is
• 37:55
  unbelievable interaction that we have here on the channel.
• 38:00
  OK. The gold to silver ratio could
• 38:04
  present an opportunity in the future.
• 38:06
  Let's talk about that. OK, I get that all the time,
• 38:10
  right, Converting, we talked a little bit about it earlier.
• 38:13
  We don't want to if the silver price hits a bubble, bubble
• 38:18
  bubble, right a an event where we see a lot of things
• 38:23
  happening, right. It probably could be a little
• 38:24
  bit of a challenging time for all, but we see the silver value
• 38:28
  skyrocket, right? You can buy a house for a nice
• 38:32
  house for 1000 or 500 ounces of silver, whatever the case may
• 38:35
  be. The other critical thing to
• 38:37
  remember is to keep an eye on the gold to silver ratio.
• 38:42
  If you're heavy on silver right now like I am and if we get to
• 38:46
  this point where maybe the gold to silver ratio instead of it
• 38:49
  taking 80 ounces of silver to buy one ounce of gold.
• 38:53
  But I'm sorry I'm not converting silver to gold at that level.
• 38:57
  But if it gets to maybe 30, me personally, I may consider
• 39:02
  converting some some of the silver, the generational silver
• 39:07
  that I've never sold, one ounce, I've never sold 2 gold, right.
• 39:11
  So we need to keep an eye on that.
• 39:14
  You know, let's talk about this because it's it's, it's it's one
• 39:20
  of the big fundamental keys that precious metals investors, I
• 39:24
  think, know but tend to forget, right?
• 39:28
  We're faced with a choice. You're faced with a choice,
• 39:31
  right? You want to protect your family.
• 39:32
  You want to protect yourself, number one.
• 39:34
  Then you, our families are right there with it.
• 39:37
  We want to protect our friends. You've likely chosen to do that
• 39:40
  by investing in precious metals. And I read this last night and
• 39:44
  it just, it just, it was like it it.
• 39:47
  I hadn't heard it for a while. So I thought, I gotta share it
• 39:49
  with. I gotta share it with the
• 39:51
  basement dwellers. OK, Get out of credit, right.
• 39:55
  Credit. Remember, debt is like the, the
• 39:58
  currency of slavery. Get out of credit, right.
• 40:01
  And this, my friends, is credit. We don't think of it like that.
• 40:06
  But this is credit. This is nothing.
• 40:08
  This is a paper dollar. This is not a silver
• 40:10
  certificate. This is credit.
• 40:13
  This is. Is debt.
• 40:15
  It's all it is. It's nothing.
• 40:16
  It's paper. Get out of credit and get into
• 40:20
  real money. Silver and gold.
• 40:23
  This is not credit. This right.
• 40:27
  This right now is value. I'm holding it in my hand.
• 40:33
  I think it's starting to tone a little bit.
• 40:35
  OK, this is real money, OK? Doesn't matter if we're talking
• 40:41
  500 years ago or 500 years from now.
• 40:45
  That is real, real money. Let's talk about the big
• 40:50
  recession breaking news. This morning, Coin Shop Chris
• 40:53
  emailed me. It's official.
• 40:55
  It's now official. Oh and I got the charts.
• 40:58
  We're gonna let's let's talk about the economy and then we're
• 41:01
  gonna go to the silver chart. OK.
• 41:03
  I have a new chart that I put together for you with two new
• 41:07
  bonus features that that that again point us in the direction
• 41:13
  that we have major major things to be happy about for silver and
• 41:17
  gold. Thank you to 1ST Mining Gold.
• 41:19
  If you're looking for a junior development stage company that
• 41:24
  has multi million ounce projects in Canada, check out First
• 41:28
  Mining Gold at firstmininggold.com and Fortuna
• 41:33
  Silver. They're a producer major
• 41:35
  operations in Latin America and West Africa producing both
• 41:39
  silver and gold. You can learn more about them at
• 41:42
  fortunasilver.com. Hey, look, I only work with
• 41:47
  companies including Pimbex that I work with.
• 41:50
  I eat my own cooking. OK, sponsors.
• 41:53
  OK, I worked with Pinbex Pi MB EX right there on the box before
• 41:58
  they sponsored the channel. I own first mining gold stock, a
• 42:02
  lot of it. OK, Before they sponsored the
• 42:05
  channel. I owned Fortuna Silver mining
• 42:08
  stock before they sponsored the channel.
• 42:11
  I'm not giving financial advice. Look, buying silver and gold is
• 42:15
  risky. Buying mining stocks, it's
• 42:18
  risky, right? It can go up, but they can also
• 42:21
  go down. I'm not giving financial advice,
• 42:23
  but I am eating my own cooking when I talk about the companies
• 42:27
  that sponsor the basement. So thank you to all the
• 42:30
  sponsors. Oh, hold on here and let's talk
• 42:34
  about the economy. Let's talk about Walt's favorite
• 42:36
  shrimp. Red Lobster.
• 42:41
  Really. Here.
• 42:42
  Let's go out there. Let's go out to Google.
• 42:48
  Hey everybody, I'm still here. See, I'm over on the left side.
• 42:55
  Let's go out to Google and just see what's going on with Red
• 42:59
  Lobster. Nope, I spelt it.
• 43:02
  Wrong news. The rise and fall of Red
• 43:11
  Lobster. The big RL, right?
• 43:13
  Am I still here? Hold on.
• 43:17
  And here we are. Yeah, which just filed for
• 43:21
  bankruptcy after a failed Endless Shrimp promotion.
• 43:27
  Well, the shrimp, you can't even find them because they're
• 43:29
  they're stuck inside all the fried breading who owns Red
• 43:32
  Lobster. Again, guys, this is not Red
• 43:35
  Lobster. It's official now.
• 43:37
  The big RL has filed for bankruptcy.
• 43:39
  The economy is crazy. Is it good to have a recession?
• 43:42
  We've talked about this fact that we could be heading for a
• 43:46
  recession in the next six months.
• 43:48
  I predict that we're gonna see recession.
• 43:52
  We could see depression, we could see craziness.
• 43:56
  We got the crazy, Oh my gosh, presidential election coming up
• 44:00
  all why could we have a major recession?
• 44:03
  Think about this guys. All the interest rate hikes that
• 44:07
  Jerome Powell and the Federal Reserve did over the last two
• 44:10
  years are just now starting to have an impact.
• 44:14
  It's a lag effect. It takes six months to 18 months
• 44:18
  for the full impact of the interest rate hikes to to have
• 44:22
  their impact. We are right now in the meat of
• 44:25
  the storm from the interest rate hikes.
• 44:28
  Go anywhere, drive around. Aren't you seeing it when you go
• 44:31
  around your town? I I pulled it up yesterday.
• 44:34
  Restaurants everywhere shutting down, car lots shutting down.
• 44:38
  They go, big deal. Yeah, it is a big deal.
• 44:41
  Those are people losing their jobs, especially in particular
• 44:46
  at restaurants. Restaurants are very labor
• 44:49
  intensive. So a lot of jobs.
• 44:51
  I mean I bet the date they're here.
• 44:52
  This place, well, I'm there's a place by my house.
• 44:55
  Dave and Tony's like a premium burger joint.
• 44:57
  It was awesome. I bet they probably employed
• 45:01
  total maybe 20 people, right? All the Red Lobsters.
• 45:05
  How many people do you think work at a Red Lobster?
• 45:08
  I bet there's 40, maybe total. By the time you count the cooks,
• 45:12
  dishwashers, the guy that's out catching the lobsters, I mean,
• 45:15
  not to mention right, the lobster guys out in Maine or
• 45:19
  wherever they get the lobsters from, They're hurting as well.
• 45:21
  Let's all have a drink of coffee and it gets even worse.
• 45:29
  OK, let me read this to you. I wrote this specially for you,
• 45:33
  so listen up, OK? Recessions are good.
• 45:37
  They get rid of the fat and make the economy more efficient.
• 45:41
  But we've been living in a make believe fairy land for the last
• 45:45
  number of 1009 billion. OK, Susie's.
• 45:52
  Can you guys see Susie? Here she is.
• 45:54
  She's got her own chair now, and she's very excited.
• 45:57
  We've got 1000 people. Stay with us.
• 45:59
  Maybe let's get to 1100 and I'll ring the gong.
• 46:02
  OK, but recessions are good. But we've been living in a
• 46:06
  fantasy world. 0% interest rates for so long.
• 46:09
  Big business hijacked your country, hijacked it politically
• 46:16
  and economically. OK, big corporations, the mega
• 46:22
  corps, they want low interest rates, OK.
• 46:25
  They want cheap money, OK. They never then have to face a
• 46:31
  recession. And you know what recessions
• 46:33
  create? They create competition for the
• 46:35
  big companies. They create a a situation where
• 46:39
  they have to actually perform in a in a difficult environment
• 46:43
  without. It's like you take the training
• 46:44
  wheels off. OK, so that's what's going on.
• 46:48
  But the hens have come home to roost.
• 46:51
  Cockle doodle Doo, OK? The hens have come home to
• 46:55
  roost. The artificial fake right money
• 47:00
  printing has got to come to an end.
• 47:02
  It's happening, OK? I've heard it Top, top people
• 47:06
  say this. No matter who wins this next
• 47:09
  election, whether it's Joe Biden or Donald Trump, it doesn't
• 47:13
  matter. Either one of them is.
• 47:15
  They head into their next presidential term, are facing a
• 47:18
  new environment, OK, where the debt is really starting to
• 47:23
  matter. It's really making a difference,
• 47:26
  creating difficulty no matter what they try to do, OK, there's
• 47:32
  no this is where we where it gets interesting.
• 47:36
  There's no worldwide demand for treasuries.
• 47:39
  OK? As we move out, right at a time
• 47:42
  when the United States has more debt, more, more, more personal
• 47:46
  debt, more business debt, more government, that we know that
• 47:52
  right? When the world, when the United
• 47:54
  States needs the world to need the debt, the the world doesn't
• 47:57
  have money for it, #1 and #2, they can work a calculator.
• 48:02
  So they're saying no more, no more.
• 48:04
  So while everybody's clamoring that this is this is going to
• 48:08
  blow your mind, everybody's clamoring, right?
• 48:11
  We need lower rates. We need lower rates.
• 48:14
  The market, Mother Nature, God, gravity, whatever you want to
• 48:19
  call it. The bond market, the biggest
• 48:21
  market in the world, The bond market is saying we don't want
• 48:26
  the bonds, we don't want to buy U.S. debt, we don't want to
• 48:29
  subsidize the United States anymore.
• 48:31
  You know what that creates, guys?
• 48:33
  That creates higher interest rates, cause the price of the
• 48:37
  bonds has to go down. So the return on the bonds goes
• 48:40
  up. It's called the inverse
• 48:42
  relationship between bond prices and interest rates.
• 48:45
  I learned that when I was in college studying accounting.
• 48:48
  But it's, it's a basic fact, the price.
• 48:51
  So then right, we we do face, right when interest rates go up,
• 48:57
  we do face serious economic hardships in this country.
• 49:01
  So then what does the Fed do? the Fed is so in a box.
• 49:04
  Jerome Powell is so, so right in a box.
• 49:10
  OK. All they can do at that point,
• 49:14
  There he is. Hi, everybody.
• 49:17
  All they can do at that point is print money.
• 49:20
  And that's going to send the price of gold and silver
• 49:23
  skyrocketing. Hey, guys, thank you for being
• 49:26
  here today. OK.
• 49:27
  It's a big deal. I'm going to look forward to
• 49:29
  see. OK, Susie's yelling at me.
• 49:36
  The gong. All right, let's ring the gong.
• 49:38
  All right, We'll do the train whistle.
• 49:42
  I think I have the noise. Hold on.
• 49:44
  I want to make sure I have noise cancellation off.
• 49:46
  Thank you, guys. You loyal basement dwellers who
• 49:50
  stayed with us through this. Yep, we got it on SO400.
• 49:54
  Thumbs up. It's time for the whistle.
• 49:56
  Thanks to Don the Brain for the whistle.
• 50:07
  OK, hope I didn't lose any sponsors over that one.
• 50:10
  But hey, do you know what? That's what we're about,
• 50:12
  community. I'm so happy you're part of the
• 50:15
  Ron's basement community, and I'm hoping that I get to see you
• 50:18
  again tomorrow. Thanks to our sponsors Pinbex
• 50:22
  First Mining Gold and Fortuna Silver.
• 50:25
  Hey look, if you're out there wanting to shop around for some
• 50:27
  silver, gold or platinum, go check out Pimbex at pimbex.com.
• 50:31
  I'll see you guys tomorrow. Thank you.