Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 😮Gold & Silver INVESTORS Must Comprehend THIS CRITICAL Development!

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😮Gold & Silver INVESTORS Must Comprehend THIS CRITICAL Development! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:11
  The never ending flow of news, fascinating news directly
• 0:16
  related to silver and gold. Does it ever cease to amaze us?
• 0:20
  Wow. Major developments today that
• 0:22
  we're gonna talk about. Let's start out.
• 0:24
  Let's start out with something a little funny.
• 0:27
  A little funny about silver. Well, wait a minute before we go
• 0:31
  there. Thank you for being here.
• 0:32
  Thank you for joining us in the basement.
• 0:34
  Basement dwellers United, man. We are an elite crowd of people.
• 0:40
  We love to dive into the deep end of the pool.
• 0:42
  It is summertime, by the way, and we dive into the deep end.
• 0:45
  We want to know what's really going on.
• 0:47
  You're sharper than the average knife or something about a bear.
• 0:51
  I forget. Anyway, thank you for being
• 0:53
  here. Let's take a look at what's
• 0:55
  developing right now, and we will start with something a
• 0:58
  little bit funny. I thought it was funny regarding
• 1:03
  the oh, oh, oh, oh. What happened?
• 1:05
  Oh, no. We've got trouble in paradise.
• 1:08
  Hold on. Here.
• 1:08
  Here we go. Let's go to Reddit.
• 1:10
  We don't go here very often. The Silver Degen Club.
• 1:14
  That's how it stands for Silver Degenerate Club.
• 1:16
  And a lot of you are my age. We don't really, a lot of us
• 1:21
  don't know what Reddit is, but Reddit's like a like a social
• 1:25
  platform where people can form groups.
• 1:28
  And that's where the Wall Street Silver Group had its origins.
• 1:33
  And offshoot of that was this the Silver D Gen.
• 1:36
  Club, which stands for Silver Degenerate Club.
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  I've met the guys, John Forrest, Littles involved with it, great
• 1:42
  people. But there was something, this
• 1:44
  was really funny yesterday, somebody put up, remember
• 1:47
  yesterday when the silver price got clobbered by like a buck?
• 1:51
  Somebody said what changed at 10:30 AM and then put up this
• 1:55
  chart, right. I mean, look at this.
• 1:57
  Let me make sure we've got you guys pulled up, which we do.
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  I mean, the price of silver just got absolutely.
• 2:05
  See if I can. Oh, OK, Let's see if I can move
• 2:08
  that around. Can I move that around?
• 2:10
  Yeah, Here we go. OK, from 3150 all the way down
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  to WOW, 30, what, 70 probably. And it was pretty darn funny.
• 2:25
  If you read through the comments underneath that, somebody said,
• 2:29
  well, it must have been that the, the JP Morgan Chase guys
• 2:32
  showed up a little bit late to the office on Monday morning
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  after the long holiday weekend. That would have been about what,
• 2:39
  9:30 Eastern Time. So they, they, they slept in a
• 2:42
  little bit, showed up and then immediately torpedo 'cause I
• 2:45
  looked around, I couldn't find, could you find yesterday?
• 2:49
  I'll ask you like what was the reason why silver got clobbered?
• 2:54
  It makes no sense. I think we know the reason if we
• 2:57
  look at that chart. What do you think, right?
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  If we looked at that chart, that then also would have shown the
• 3:02
  volume of of contracts that were traded.
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  We know in the past, right, On an average day, on an average
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  one day, on the COMEX, one day they will trade the equivalent
• 3:16
  in electronic silver ounces of an entire year's worth of mining
• 3:21
  production. So it wouldn't surprise me that
• 3:23
  if during that 15 minute period yesterday, oh, I don't know,
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  they traded who knows, right, like 100 million ounces of
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  silver. It went down because it's
• 3:32
  manipulated. That's the bottom line.
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  But it gets even more interesting when we go out and
• 3:36
  check with our friend, the Oriental Ghost.
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  OK, he's got some interesting information.
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  First, we'll look at let's just check on the price of the of
• 3:46
  silver. I know you guys love to do this.
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  The price of silver on the Shanghai Gold Exchange.
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  Oh, just there's silver AG, there's U.S. dollars.
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  It closed earlier this morning, American time at $34.76.
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  Wait a minute, Wait a minute, basement dwellers.
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  You're trying to tell me that in China on the Shanghai Gold
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  Exchange, which is a physical exchange, the price of silver is
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  almost 3535. Pretty close, right?
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  We can round up. We round up when it's in our
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  favor, $35 per oz. Let's go out to channel sponsor
• 4:26
  Pembeks and just do a quick update on the silver price.
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  Oh, up 13 cents. OK, so in the United States,
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  silver is trading for $30.90, about $31.00.
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  We'll, we'll, we'll, we'll round that one up as well.
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  But in China it's silver, guys. Physical silver, not make
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  believe, Unicorn fart dust paper, whatever you want to call
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  it, right? We'll, we'll go out and look at
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  the US debt clock in a minute here and see what the paper to
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  silver ratio is. But real silver is trading for
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  $35.00 an ounce in Shanghai, right, 31 here in the United
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  States. Hey, while we're here, I want to
• 5:10
  say thank you to Pendex for sponsoring the basement, making
• 5:12
  this possible, facilitating us all getting together.
• 5:17
  Somebody's wildly texting me here.
• 5:19
  Hopefully I'm not making any mistakes, OK?
• 5:21
  No, I'm not. If it's not for Pendex, if it's
• 5:25
  not for first mining gold and Fortuna mining, we don't have a
• 5:29
  basement to get together. So thank you.
• 5:30
  OK, Now if you want to get your hands on some silver, gold or
• 5:33
  platinum, you know the story. I'll never tell you what to do,
• 5:37
  but please do yourself a favor and investigate Pimbex.
• 5:41
  OK, everyone, I was talking with John Forrest Little this morning
• 5:45
  the the man behind of the Silver Academy, and I was talking about
• 5:49
  Pimbex and I said I love having them as a sponsor because
• 5:53
  everybody, I mean, everybody, hold on here.
• 5:58
  My, my phone's going crazy. I apologize.
• 6:00
  Everybody sends me. Nobody's ever complained.
• 6:03
  No, there was one little issue one person had over the course
• 6:08
  of a year, and it was not really an issue with Pinbex at all.
• 6:12
  I mean, everybody loves Pinbex. So if you're looking to get some
• 6:16
  silver gold, please check out Pinbex.
• 6:18
  Where was I? Oh, I need to go back.
• 6:20
  Hold on, guys. Let's say hi to you first.
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  Wow, we got 300 people on a what, Tuesday morning.
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  Silver and gold investors, thank you for being here.
• 6:29
  Please give this a thumbs up. That's something nice you can do
• 6:32
  and subscribe to the channel if you haven't already.
• 6:36
  Let's go back out and look at. So there we are $35 per oz on
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  the Shanghai Gold Exchange. What about the Shanghai Futures
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  Exchange 3488? Now it gets even more
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  interesting when we look at this, because the Shanghai Ghost
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  brought up a great point, he said.
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  Last week, the Shanghai Gold Exchange delivered 4000, I'm
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  sorry, 447 tons of physical silver.
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  And up to now, in this year, the total amount of physical silver
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  delivery has reached 13,500 tons.
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  China is accelerating the swallow of silver, the devouring
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  of silver in the world. When, when the delivery, when,
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  when, when they deliver it, the vet, the buyer must pay the
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  value added tax at We talked about this and we got more data
• 7:29
  to look at in this regard. That's even more crazy.
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  Guys. Do you know how lucky you are?
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  We forget how lucky we are. Two things I want to point out
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  that how lucky if you're in the United States, if you're in
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  Canada, right, if you're in a western country, if you own any
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  physical silver right now, do you know how lucky you we are,
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  right? You can go to Pinbex and buy
• 7:50
  silver based off that BS paper Comex price, whatever it was,
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  30, a little over $31.00 per oz, which is a pretty good silver
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  price right now. We'll take that, but you can pay
• 8:02
  a small premium, maybe $2.00 roughly per oz on top of that
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  and get silver delivered to your door if you buy more than $299.
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  And this is not another commercial for Pinbex.
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  And you can do it with other online bullion dealers too.
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  There's, I mean, you know, I always tell people compare.
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  I, I like Pinbex 'cause I get the best price.
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  It's a company I can trust. But other bullion dealers can do
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  the same thing. You know how lucky we are,
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  right? We don't have to pay massive VAT
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  taxes. Most people in the United States
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  don't have to pay sales tax. I mean, we really are lucky.
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  The other thing, and I was talking with John Little about
• 8:41
  this this morning, how lucky we are as silver and gold stackers
• 8:45
  in this country. I, I did this example that
• 8:48
  created an uproar on the Internet.
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  I mean, I'm getting attacked from all sides, but a lot of you
• 8:53
  are supporting me in this as well.
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  This idea that if you take China or India for that matter, either
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  one, OK, not both, either one. And both those countries,
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  they're in a race. They have 1.4 billion people
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  each. You take 70% of those people,
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  just 7 out of 10, seven out of every 10 Chinese or Indian
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  person, just 7 out of 10 of them, and they all buy one ounce
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  of silver. It wipes out the world's supply
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  of silver. Now, what I got attacked for on
• 9:25
  that was, oh, well, yeah. But you don't understand.
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  People in India are so poor. People in China are so poor they
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  can't even. And you know, that's the other
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  thing. I thought about that and I was
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  talking with John this morning and said there are there's,
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  there are people in China and India that really couldn't
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  afford to buy one ounce of silver.
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  I think most of you out there, and me included, could afford to
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  buy multiple ounces of silver. So we really are lucky on two
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  regards #1 we have the ability to buy, right.
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  I saw a great new video by Coin Shop Chris the other day about
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  some silver that he had bought. Like we have the ability to buy
• 10:01
  silver and we get it at a artificially low price.
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  I mean, look, I'll bust on the United States is with anybody,
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  but when it comes to being able to convert, right, you aren't
• 10:12
  buying that. We can convert this.
• 10:15
  Look at this guys, need I remind you take a good hard look at
• 10:19
  this. What do you think when you see
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  this right? You've been brainwashed over the
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  years, right? You like me, you think it's got
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  some value, but the reality is you can convert paper paper,
• 10:33
  it's not changing right into this.
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  Look at that. That's a beautiful look at oh,
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  isn't that pretty? You got to get the right angle.
• 10:42
  So it really, hold on, there it is.
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  Isn't it beautiful? It's silver.
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  I mean, it's unbelievable. Now let's get back to China,
• 10:51
  'cause it it is becoming a critical situation.
• 10:56
  They are going to take all the world silver and look at this.
• 10:59
  Look at what's going on further, further from William Middle
• 11:02
  Coupe. That guy I like, OK, William
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  Middle Coupe, he's like one of the Super smart guys, OK,
• 11:09
  Besides you, you're super smart too.
• 11:12
  William Middle Coupe says, now I'm paranoid.
• 11:14
  You ever get that happen to you in life?
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  Like, see, when I keep doing this going over here, it's to
• 11:20
  make sure that you guys can see what I'm seeing because I forgot
• 11:23
  to do that a couple times. And then people like, we can't
• 11:25
  see what you're seeing, Ron, so I apologize, please.
• 11:29
  You know, this is an evolving show.
• 11:30
  It's like a one man band. But nonetheless, William Middle
• 11:33
  Coupe Silver is getting out of stock.
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  OK, let's take a look at this chart and see what he's talking
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  about. This is China's warehouse stock
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  Shanghai Futures Exchange silver from the 2nd of July is that
• 11:52
  2000? What to the 4th of July 2024 in
• 11:56
  the chart Irregardless. OK, look at this.
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  The purple line is the warehouse warrant the Shanghai that's the
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  that's how much silver they have in their warehouse went from
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  1600. I'm sorry, I apologize.
• 12:10
  I don't know if that's metric tons.
• 12:12
  I was trying to figure it out. I didn't have enough time, but
• 12:14
  whatever measurement this is, we got tons kilograms oz Troy oz
• 12:21
  tails tallies or something they use nonetheless, The the point
• 12:26
  here is you can see look how far that has dropped.
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  OK, it's absolutely crazy if this continues right, dear.
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  We don't have to be, we don't have to be fancy chart analyst.
• 12:38
  Let me let me explain to you how this works, guys.
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  That's the amount of silver they had.
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  OK, And do you see this line, this trend line, OK, somewhere
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  over here, it gets to zero. OK, it gets to zero.
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  There is no more silver in the Shanghai.
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  And the same can be said about the the Comex inventories and
• 13:01
  everything else. Oh, hold on, there we go.
• 13:07
  Let's go back here. And so it's getting very
• 13:13
  interesting the the big Hey, thank you, Don Wow, what a
• 13:18
  awesome super chat. Wow, thank you, my friend.
• 13:22
  Super appreciated, Don. You know what we got another
• 13:24
  super chat. Wow, Don double Don today.
• 13:27
  Double Don super chat. All right, let's go silver.
• 13:30
  Let's go gold. Let's go, Don, we always
• 13:34
  appreciate the support. Thank you so, so very much.
• 13:38
  Big picture, here we go. I wrote this out for you a
• 13:41
  little, a little tale of the tale of silver, 'cause we forget
• 13:45
  about sometimes the easiest things, right?
• 13:48
  Do you experience that in life? It's like it's easy to forget
• 13:51
  sometimes the things that are most obvious, right?
• 13:54
  I mean, that's just the way life is.
• 13:56
  So I'm here to help you remember why you own this stuff here.
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  I haven't shown this for a while Huh.
• 14:03
  A10 oz beautiful 10 oz silver bar.
• 14:07
  I mean, who doesn't love this stuff?
• 14:11
  I do OK, but big picture for silver, while the Eastern
• 14:16
  countries like we just looked at and worldwide, worldwide
• 14:22
  industrial demand is skyrocketing.
• 14:25
  The Western investors, OK, have been selling the ETFs, right?
• 14:31
  The SLVETF that's been going on for what, a year and a half, two
• 14:35
  years now? And and guys, I got bad news for
• 14:38
  you. They've been selling some of
• 14:40
  their physical metal as well. That can only last for so long.
• 14:45
  I think it was Andrew McGuire I heard talking about this like it
• 14:48
  can only go on for so long, right?
• 14:51
  Like temporarily. We're in this little zone where
• 14:55
  the Eastern investors worldwide industrial demand is.
• 14:59
  Do you hear the vacuum? Is that is that Susie vacuuming?
• 15:03
  No, couldn't be Susie. No, no, that's not it.
• 15:07
  No, that's a vacuum trying to suck the silver the little bit
• 15:10
  that I keep in my house out of my basement and ship it over to
• 15:14
  the east. This can only go on for so long.
• 15:18
  OK, only thank you. Story time for the Super chat.
• 15:23
  It's ending, right? The outflows of the ETF.
• 15:26
  The recent data has shown us that's starting to stop.
• 15:29
  But guys, that's so critical for us to remember that, that that
• 15:33
  reserve, I think that's the best word.
• 15:35
  I don't know if you have a better word, right?
• 15:37
  The slush fund, the reserve, the above ground silver that's been
• 15:41
  providing right this this excess that is needed because the
• 15:45
  mining sector only is bringing up what 850 million oz a year in
• 15:49
  the world is demanding 1.2 There's been like 600,000,600
• 15:53
  and 40 million excess ounces of silver demanded over the last
• 15:58
  three years, which is almost one full year's worth of mining
• 16:00
  supply. It can only last for so long and
• 16:04
  I'm man, I, I know I say it almost every 3rd day, but when
• 16:08
  the Western investor, when your neighbor, when your mommy, do
• 16:12
  you have a mommy and a daddy? You probably do you have
• 16:14
  friends, you have kids. Think about all these people in
• 16:17
  your life, these wonderful people that you care about so
• 16:21
  much, but they don't give a poop about silver or gold when they
• 16:26
  start to wake up. Oh baby, OK.
• 16:28
  And it's all it's starting to change, right?
• 16:31
  It is starting to change. What did we hear about Costco?
• 16:34
  I read something the other day they but they have it was a
• 16:38
  metric measurement. What was it 1000g bars or
• 16:42
  something like that of gold and they sold out immediately.
• 16:45
  Immediately. It's happening guys.
• 16:48
  Thank you. Thank you guys for these super
• 16:50
  chats. Man.
• 16:50
  I am super, super spoiled. Let's pull up the banner.
• 16:55
  Hey, hey, and I can say thank you to you for being here.
• 16:58
  Thank you for the thumbs up. Today's the big day.
• 17:02
  OK, today it starts. Jerome Powell will be in
• 17:05
  Washington, DC testifying in front of Congress or Senate.
• 17:09
  One of them, one of the other, the Banking Committee,
• 17:11
  committee, whatever. I'm gonna.
• 17:13
  I'm telling you right now. Here's here's the little secret.
• 17:16
  OK, Jerome. Jerome got his little dovewings.
• 17:20
  OK, Here. Yeah, Yeah, here he is.
• 17:23
  This guy, it's the 10 second Jerome, he got his little
• 17:27
  dovewings. I need to get a little set of
• 17:28
  wings. OK, what you're gonna start
• 17:31
  hearing now is and what the mainstream media is gonna be
• 17:35
  telling you and me is that, oh, the Fed's gotta cut rates and
• 17:40
  the Fed, you know, everything's gonna be dovish oriented.
• 17:44
  Now. We could be in for the big, big
• 17:47
  rally. Don't forget Thursday.
• 17:48
  I've talked about it ad nauseam. But for those of you who are
• 17:51
  just joining us for the first time Thursday, I'm predicting
• 17:55
  that we're going to get a low inflation print.
• 17:57
  And it's going to be, it's going to be off to the races.
• 18:00
  Now, remember, the Fed, right? They don't like low inflation.
• 18:04
  They, they can't, they want inflation.
• 18:08
  It's the big game. The only way the system
• 18:11
  continues, the only way. The United States of America.
• 18:15
  America, Right? This place the only way.
• 18:20
  This place. I hate cheesy.
• 18:22
  I'm sorry. I hate cheesy props, but I kind
• 18:25
  of like waving this flag. America.
• 18:28
  The only way America survives, huh?
• 18:32
  Stick it there with the silver bear.
• 18:35
  Hold on. Here we go.
• 18:38
  Right about Pimbex. The only way America survives is
• 18:41
  by inflating away the debt. It's the only way the country
• 18:44
  survives. The only way the country
• 18:46
  survives is by making this worthless piece of paper even
• 18:51
  worth even less. OK, they aren't going to let the
• 18:54
  system crash that they could. There's like a 10% chance.
• 18:58
  Who knows, maybe I'm wrong. The only way the system works is
• 19:02
  to is to devalue the dollar to inflate away the debt, to
• 19:06
  monetize the debt. We're going to get into more of
• 19:08
  that later. We also have a Citibank talking
• 19:12
  about rates getting cut 8 times in the next like year and a
• 19:16
  half. We're going to talk about that.
• 19:18
  But Jerome is out here on and OK, and we talked about the CPI.
• 19:23
  Now let's go. Hey, let's just go straight to
• 19:26
  it baby. Where was I?
• 19:28
  OK, here we go. Hold on.
• 19:33
  Since I'm now paranoid, OK? I'm not allowing anything.
• 19:38
  This my friends, but this is a widely circulated story comes
• 19:43
  from Oilprice.com. Oilprice.com.
• 19:47
  And since I recently bought a used Toyota Camry hybrid, we're
• 19:52
  going to get advertisements for a new bat.
• 19:55
  You know, these batteries that these hybrids take My, my, my, I
• 20:00
  bought my mom and dad's old Camry hybrid because it only had
• 20:03
  4000 miles on it and it was totalled in a hailstorm.
• 20:06
  And I don't care that a car has a bunch of little hail dents in
• 20:09
  it. But these new batteries, if you
• 20:11
  have to get one, cost $2000. It's crazy.
• 20:17
  That mean, well, what is that? And you know what's in those
• 20:18
  batteries? Silver.
• 20:20
  I see. I knew we had to bring, so I
• 20:21
  don't care. I'll be stacking a little more
• 20:23
  silver. Anyway, back to Citibank, OK?
• 20:26
  Citibank says the Fed could cut interest rates by 200 points.
• 20:31
  That means a full 2% through 2025.
• 20:35
  Citi, the US Federal Reserve could slash interest rates by
• 20:39
  200 basis points in the next 8 meetings.
• 20:42
  That means that for the next eight Federal Reserve meetings
• 20:46
  that we could get a .25% rate decrease.
• 20:49
  OK. the Fed will trim rates by two by 25 basis points 8 times.
• 20:55
  Dovish comments from Fed Chair Jeremy Powell on Tuesday have
• 20:59
  given traders hope that the first rate cut will likely come
• 21:03
  in September. I'm telling you guys right now,
• 21:06
  I'll go out on a limb. It it number one.
• 21:08
  OK, here we go. I got, I gotta talk, I gotta
• 21:10
  have some serious conversation with you #1.
• 21:13
  It doesn't matter if the Fed cuts rates or doesn't cut rates.
• 21:17
  What matters, and I will reiterate this to you, it, it
• 21:20
  matters short term, it's noise, it's a distraction, right?
• 21:24
  It's a, it's a, it's a carnival show, whatever.
• 21:27
  What matters is I want you to think about this, whether the
• 21:31
  Fed cuts rates, doesn't cut rates.
• 21:34
  It's mathematically impossible that 10 years from now this
• 21:40
  right, this is going to buy anything close to what it'll buy
• 21:46
  today and envision that being $100 bill.
• 21:48
  I don't care. Maybe I need to get $100 bill
• 21:50
  down here. It's mathematically impossible,
• 21:54
  OK? the Fed under the best
• 21:56
  circumstances says they want this thing to lose 2% per year.
• 21:59
  We know that's a bunch of bull bull poop, right?
• 22:06
  So that's the big story. They can cut they can.
• 22:09
  It's smoke and mirrors, guys. It's a big cluster bomb.
• 22:15
  I don't know how to it's hard to it's hard to put it's all
• 22:18
  distraction. The reality is in 10 years your
• 22:21
  dollar is not going to go anywhere near.
• 22:24
  Let's see if there's anything else in this oil price analyst.
• 22:28
  All those, they're all over the place these days.
• 22:30
  That city have predicted the US Federal Reserve could slash
• 22:33
  interest rates by 200 basis points in its next eight
• 22:35
  meetings through the summer of 2025 as the US economy cools
• 22:40
  down, citing fresh signs of a slowing economy and growing
• 22:44
  unemployment. I mean, if you, if you
• 22:46
  everything changed last week and we predicted at basement
• 22:50
  dwellers, we were we last Monday and Tuesday we were talking
• 22:53
  about that the, that the jobs number was gonna be
• 22:57
  disappointing. And it was such.
• 22:59
  It's so stupid the way they do it right.
• 23:01
  Like, oh, we created 200,000 jobs.
• 23:04
  I heard that. I can't stand her.
• 23:06
  There's very few people I can't stand.
• 23:08
  But that press secretary for President Biden, that curly
• 23:12
  haired lady, she drives me nuts. And I heard her yesterday saying
• 23:16
  we've, we've created 200,000 jobs.
• 23:18
  I'm like 200,000 make OK and I have a a tail in in wings.
• 23:23
  I can fly If you know you believe anything everything
• 23:26
  changed OK and now everybody's talking about the economy
• 23:30
  slowing down. OK, we're going unemployment.
• 23:34
  The bank is forecast blah blah blah blah.
• 23:37
  Powell, Jeremy Gomer Powell is set to testify before Congress
• 23:41
  this week amidst signs of slowing inflation.
• 23:45
  And AI mean that's the whole new narrative.
• 23:48
  And what's that mean for silver and gold, right?
• 23:52
  That means higher silver and gold prices.
• 23:53
  Why? We got 600 people in the
• 23:55
  basement. We're running out of room, baby.
• 23:57
  We're going to have to move to a big church basement or something
• 24:00
  like that. Don't you forget basement
• 24:02
  dwellers. For those of you who are
• 24:04
  interested, OK, I give you my word that when?
• 24:08
  Where is he? There he is, the silver bear.
• 24:10
  See him? For those of you who are new,
• 24:13
  that's a blindfolded teddy bear, and his blindfold comes off when
• 24:17
  silver hits $85. But we're also going to have a
• 24:20
  big party here in Saint Louis. I will rent out the basement of
• 24:24
  a Catholic Church 'cause they do that and, you know, and, and
• 24:28
  have a party, I promise you. I digress.
• 24:31
  You probably don't care about that.
• 24:33
  I understand. OK, But if you want to come,
• 24:35
  you're more than welcome. All right, so Citibank's talking
• 24:39
  about that. Now let's go to the Children's
• 24:40
  News Network 'cause this is big news.
• 24:42
  This is the big warning. This is the the big situation
• 24:47
  that is, is is developing in the country.
• 24:50
  It says right here, CNN children's news network
• 24:53
  business, a key part of America's economy has shifted
• 24:57
  into reverse. Why is this a big deal?
• 25:01
  OK, how many times have you been told over the years brainwashed
• 25:07
  by the media, the United States is a consumer based economy?
• 25:10
  The consumer is dead. Do you feel it?
• 25:13
  Do you feel it yourself on a personal level?
• 25:16
  I do. OK.
• 25:18
  Nobody's going out to eat. Who was I talking to last night?
• 25:22
  I was talking to somebody that like, I was at these
• 25:23
  restaurants. Oh, I was talking to my friend
• 25:25
  Paul up in Paul the from First Mining Gold up in Toronto.
• 25:30
  He's like, these restaurants are empty, guys.
• 25:35
  It's happening, right? Excuse me.
• 25:38
  The hens have come home to roost, right?
• 25:41
  And now even CNN is talking about this fact that we've got a
• 25:45
  slowing consumer in the economy, OK.
• 25:49
  And, and, and, and, and we're going to see that all these
• 25:53
  restaurants that are closing, all these service businesses
• 25:56
  that are closing, I want you to consider this.
• 25:58
  Service businesses are very dependent on human labor.
• 26:03
  So when a restaurant closes and those twenty people lose their
• 26:06
  jobs, that's 20 less people that can go to other restaurants that
• 26:10
  can go to other. I mean, guys, it's getting real
• 26:13
  and it's happening right now. Consumer demand seems to have
• 26:15
  tapered off so far this summer, according to surveys of American
• 26:19
  businesses that sell any kind of service to make a profit,
• 26:22
  ranging from restaurants to dental clinics.
• 26:25
  That weakness is also evident in the latest spending figures, a
• 26:29
  far cry from last year's lucrative summertime spending
• 26:33
  spree when Americans shelled out for films and high profile
• 26:37
  concerts. It's happening and it's
• 26:39
  happening right now before our very eyes.
• 26:43
  That's why from a silver and gold perspective, what we're I'm
• 26:46
  going to prepare you, OK? Take your blood pressure
• 26:49
  medicine. Take your blood pressure
• 26:51
  medicine. I'm going to prepare you for
• 26:53
  what's going to be happening now in the next six months.
• 26:56
  And that is all you're going to hear about is how bad things
• 26:59
  have gotten out there. You know, the real estate market
• 27:01
  stinks. I mean, come on, man, who's
• 27:04
  buying houses? Who can afford to buy a house?
• 27:07
  I feel sorry for any kid, right? And I know a few that are in
• 27:11
  their early 20s that just bought a house.
• 27:13
  I told Susie, I said, you know, that that same house would have
• 27:17
  cost half as much four years ago.
• 27:20
  The price, I said in a 3% interest, the payment based on
• 27:26
  that lower price would have probably been 1/3 of what one of
• 27:29
  our wonderful little relatives recently who bought a house is
• 27:34
  paying right now. Nobody can buy a house.
• 27:36
  The swim lesson places are empty, the restaurants are
• 27:39
  empty, right? Not completely, but that's what
• 27:42
  you need to be prepared for as we move into these next six
• 27:46
  months. And it's gonna be a very, very
• 27:49
  supportive environment for the silver and gold price because
• 27:54
  all these service businesses, right, Right.
• 27:57
  There's totally cat labor, labor dependent.
• 28:02
  So that'll be fewer and fewer people.
• 28:04
  We're gonna, I, I predict right in the next 5-6 months, we're
• 28:06
  gonna hear about job losses, OK? It's gonna be unavoidable.
• 28:11
  And it's gonna be, I mean, Citibank is saying we could have
• 28:14
  eight rate cuts at the next eight, eight Federal Reserve
• 28:19
  meetings. Are you kidding me?
• 28:21
  What the tide has turned. We're ahead of the curve.
• 28:24
  We called it back in December overall, and we called it last
• 28:28
  week. And I'm telling you, I will not
• 28:30
  say it again and I will sit down here and eat my words if I'm
• 28:34
  wrong. But on Thursday, we're going to
• 28:36
  get a shockingly and if not shockingly, substantially lower
• 28:41
  inflation print. I could be wrong.
• 28:43
  And it's going to be a very, very conducive environment for
• 28:47
  the gold and silver price. The way these things work
• 28:50
  though, guys, be prepared. Sometimes it takes a little bit
• 28:54
  for the information to filter through.
• 28:56
  OK, so it may be, but as we move, we could be in.
• 29:00
  Let's get happy. You want to get happy, I'm going
• 29:05
  to get you happy. All right, Happier.
• 29:07
  I know you're already happy #1 If you want to do something
• 29:10
  nice, please give this a thumbs up.
• 29:12
  That's appreciated. That's not what's going to make
• 29:14
  you even happier than that is the fact that I firmly now
• 29:18
  believe OK and my I've changed my tune.
• 29:22
  Two weeks ago I sat down here and said buckle up buttercup,
• 29:25
  it's going to be a rough summer for the silver and gold price
• 29:29
  with recent developments. OK, we got to be able to adjust.
• 29:34
  I am now saying that we have a decent to moderate good chance
• 29:39
  that the rally that we were predicting in silver and gold
• 29:42
  that would happen in September could actually have already
• 29:45
  started that we could see what I would call a premature rally, an
• 29:52
  early rally in the silver and gold price.
• 29:55
  OK, my thoughts. I'm I'm feeling the 40s.
• 30:00
  OK, for silver, the 40s. Yeah.
• 30:02
  You heard that correctly, right? And could it happen by the end
• 30:05
  of summer? It could.
• 30:07
  Look, I have AI, have I, I, I live this and I analyze this
• 30:14
  right back in December of last year.
• 30:17
  We basement though give yourself a pat on the back.
• 30:19
  We, we talked about, I felt that by May of this year we could get
• 30:25
  the $2500 gold and we got the 2450 gold.
• 30:30
  I'm telling you right now, OK, that by the end of August, as
• 30:34
  crazy as it sounds, I think that there's a strong possibility
• 30:39
  that we could get into the into the mid 40s by the end of summer
• 30:44
  if if everything continues to play out in the direction that
• 30:48
  we're seeing right now. OK, So thank you.
• 30:50
  I got a text from coin shop. Chris, what's he talking about
• 30:54
  here? Hold on a second about time you
• 30:58
  woke up for summer price. I won't go back to any of your
• 31:05
  anyway. We love coin shop Chris.
• 31:06
  Don't forget support coin shop Chris.
• 31:08
  He is his own new YouTube channel.
• 31:09
  All right, so I won't even go down.
• 31:13
  We won't even pay attention any longer to the CNN article right
• 31:17
  now. I'm gonna read this to you
• 31:20
  'cause this is scary and this is a big warning.
• 31:22
  This I, I believe I was able to sum up the, the tragedy that
• 31:27
  we're living through right now in two sentences in this
• 31:31
  country. What I said was the United
• 31:34
  States is in a catch 22. We have so much debt that the
• 31:40
  only way to make it attractive is to pay higher rates of
• 31:44
  interest, right? Nobody wants our debt, right?
• 31:46
  And when nobody wants to loan you money, when nobody wants to
• 31:50
  think about it, guys, when nobody wants to loan you money,
• 31:53
  you have to offer them a higher interest rate, OK?
• 31:56
  But if we pay that higher rate of interest at the same time,
• 32:02
  we're digging ourselves into an even bigger debt hole, which
• 32:06
  will then require us to pay even higher rates, which will then
• 32:11
  dig us into an even bigger debt hole, which will then require us
• 32:16
  to pay even higher rates, which will dig us into an even.
• 32:20
  It's a catch 22. It's a doom cycle.
• 32:23
  That's what's going on right now.
• 32:25
  And right. And on top of that, eventually
• 32:29
  the Fed has to step in and print money, right?
• 32:33
  Monetize the debt. That's what Japan did.
• 32:36
  It's what other countries have done.
• 32:37
  And that just further destroys the value of the dollar, making
• 32:42
  the debt even more or less attractive, which means even
• 32:45
  higher. It's a big mess.
• 32:49
  OK, Lynette Zhang. I mean, it feels crazy.
• 32:54
  Lynette Zhang said. It feels crazy because we're
• 32:56
  getting near the end. I love Lynette Zhang, right?
• 32:59
  I love the message. It's it's guys.
• 33:02
  It's a catch 22. The ship has left the port.
• 33:06
  The train has left the station, Right.
• 33:08
  It's time for US silver and gold investors to make some feathers
• 33:13
  fly, put some boots on the warehouse floor, if you know
• 33:16
  what I mean. Right.
• 33:17
  Thomas Jefferson and Andrew Jackson and Alexander Hamilton
• 33:23
  and Albert Eisenhower, they're all stirring in their graves,
• 33:27
  right? They all know what's happening.
• 33:29
  They said it. I said it yesterday.
• 33:31
  Right. Let's, let's go back.
• 33:33
  This is one of the most powerful sentences ever written in the
• 33:38
  history of the world. Now, you have to bear with me
• 33:41
  for a second. Oh, shoot.
• 33:42
  Hold on here, guys. I made a little mistake.
• 33:45
  Hold on here. Let's go back.
• 33:48
  Doo, Doo, Doo Doo. Think some happy thoughts for a
• 33:51
  second while Ronnie gets everything back up and running.
• 33:55
  There we go. There's that.
• 33:56
  Hold on here. This is the most powerful
• 34:00
  sentence ever written in the history of the world, and
• 34:04
  hopefully, here it is. OK, all right.
• 34:09
  Here we go. OK, All right.
• 34:12
  I won't show this every day, but for those of you who didn't see
• 34:15
  it yesterday, in a letter to John Epps written in 1813,
• 34:18
  Thomas Jefferson declared gold and silver the best form of
• 34:21
  money. This is the most powerful
• 34:24
  sentence George Washington wrote to Thomas Jefferson on August
• 34:28
  1st, 1786. All right, sit down.
• 34:30
  Listen to this. I promise I won't repeat it.
• 34:34
  Paper money. OK, This stuff, guys.
• 34:39
  Paper money, right? Paper.
• 34:41
  Can you hear it? That's paper money has had the
• 34:45
  effect in your state that it will ever have to ruin commerce,
• 34:52
  oppress the honest and open the door to every species of fraud
• 34:59
  and injustice. That's my friends, I believe to
• 35:04
  be one of the most powerful sentences ever written in the
• 35:08
  And that's what our founding. That's what our founding
• 35:10
  fathers. Sorry, I get choked up.
• 35:13
  That's what our founding fathers had to say about paper money.
• 35:17
  Think about it OK, all right let's go let's go check out some
• 35:22
  you you want to see some crazy stats about about silver and
• 35:26
  gold. We got a lot more to talk about
• 35:28
  guys, here we go. And then we're going to talk
• 35:30
  about Basil 3, the Bank for International Settlements,
• 35:34
  something you've never thought of.
• 35:36
  Oh, hold on here. That's the wrong screen.
• 35:39
  Something you, yes, you've never thought of regarding silver and
• 35:43
  gold and I need your help on something as well.
• 35:46
  We're going to talk about that. But let's go fast out to our
• 35:51
  friend. I was talking to him this
• 35:52
  morning. What a great guy, what a
• 35:54
  warrior. The silver Academy, John Forrest
• 35:56
  little guys, it's high. I just, I have no financial
• 36:00
  interest in this, but I highly recommend you subscribe to the
• 36:03
  silver industry. Substack, Silver Academy, the
• 36:06
  pickaxe are all by John Little. Great daily info on silver and
• 36:11
  gold. Gold prices are up 16% year to
• 36:13
  date, while silver silver's up 41% since January.
• 36:18
  Congratulations, my fellow basement dwellers that stacks
• 36:22
  over. Both are just getting started as
• 36:25
  a recession is well underway, all within rising inflation.
• 36:30
  Oh boy, we haven't talked about that in a while.
• 36:33
  We'll talk about it in a second. The S word.
• 36:35
  For those of you basement dwellers who have been around a
• 36:38
  while, you know what the S word is?
• 36:40
  The scariest thing are when you have a recession inside of an
• 36:43
  inflationary environment. Yeah, we're going to talk about
• 36:46
  that. Never listen to the CPI.
• 36:48
  Real inflation is still at 15%. OK, now this is where it gets
• 36:53
  interesting. Traders boost their bullish bets
• 36:56
  in gold on the COMEX on the $2400 call expiring in 17 days.
• 37:03
  Open interest shoots to almost 7000 contracts from a baseline
• 37:08
  of just 3000 contracts 60 days ago, so the increase from 3000
• 37:13
  to almost 7000 is about 125%. Volume spikes to 5200 within a
• 37:22
  90 day average of 630. So the increase from the average
• 37:27
  of 630 to the volume of 5200 is an volume increase of 727%.
• 37:37
  Look at this, guys. Look at this chart, OK, That's
• 37:40
  the open interest, right? That's just back in April.
• 37:43
  Look how it has shot up in gold. Look at the volume.
• 37:47
  See how it's shooting up, right? There's an old saying in the
• 37:50
  world of finance that price follows volume.
• 37:54
  When volume shoots up, usually price shoots up.
• 37:57
  India's gold purchases in June were the highest in two years.
• 38:01
  They added 9 tons, the most since July of 2022.
• 38:05
  India's gold reserves expanded by 37 tons to 840.
• 38:09
  Meanwhile, gold has rallied 16% year to date.
• 38:14
  There's the red box. OK, this is interesting.
• 38:17
  This is interesting. You know who Pierre Lasand is?
• 38:22
  Pierre Lasand is one of the is like a legendary Canadian
• 38:27
  wealthy man who's been in the gold and silver industry for
• 38:31
  decades, super respected. He says.
• 38:34
  Quote. The gold price is being set in
• 38:36
  Shanghai and the Chinese are huge gamblers.
• 38:40
  They love gambling and I think the Shanghai Gold Exchange could
• 38:44
  become a casino where they're going to gamble under that
• 38:48
  scenario. Hold on.
• 38:49
  So I forgot to warn you, take your blood pressure medicine.
• 38:52
  Anything can happen. 18,000 or $19,000 per oz gold could
• 39:00
  happen. That's according to Pierre
• 39:02
  Lasan. OK, I need to come back and look
• 39:06
  you in the eye here. Basement dweller 600 of us
• 39:08
  together. Thank you, thank you, thank you.
• 39:11
  Please give this a thumbs up. If Susie yells at me and says we
• 39:14
  get to 300 thumbs up, I will. Today special day will ring the
• 39:18
  gold and gone. OK, let's go back here and
• 39:23
  silver up 40%. I mean, look at the silver
• 39:26
  chart, right? All right, he just explains here
• 39:30
  how he calculates it, right? Went from a percentage increase
• 39:35
  is is 9 divided, went up by $9, right?
• 39:39
  Divided by 22 is 41%. My, my, my math brain was not
• 39:45
  working, OK. And then they talk about copper.
• 39:49
  Copper's taking off as well. So OK, guys, let's talk about
• 39:53
  now the Bank for International Settlements.
• 39:56
  Do you know who the Bank for International Settlements is?
• 40:00
  It's the central Bank of the central bankers.
• 40:03
  A lot of people say the most powerful banking institution in
• 40:06
  the world, they have this thing called Project Inbridge, which
• 40:11
  like China, Saudi Arabia, Thailand, they're gonna do a
• 40:14
  sieve. Some people, I heard two people
• 40:17
  last night saying that this Inbridge thing.
• 40:20
  Could wind up being backed 40% by gold.
• 40:23
  OK. And then that could happen as
• 40:25
  soon as this fall. I'm not predicting that.
• 40:28
  But what we need to remember, do you realize right and and the
• 40:33
  Bank for International settlements put out new they're
• 40:35
  called the Basil 1, Basil 2. Basil 3 rules the Bank for
• 40:39
  International Settlements made gold a tier one asset.
• 40:44
  That's the highest level, the highest qualification that it
• 40:47
  can be. With the Basil 3 implementation.
• 40:51
  I want you to think about this. That put gold in the same
• 40:55
  category as what had traditionally been the safest
• 40:58
  bet in the world. Government bonds, cash.
• 41:01
  OK, what is that telling us? OK, Electronic gold, ETF gold,
• 41:08
  that type of thing that doesn't count for tier one physical gold
• 41:13
  got moved up to being just as highly valued as U.S.
• 41:17
  Treasuries. And we talked about yesterday.
• 41:20
  This is crazy, guys. You talk to your average
• 41:23
  financial planner or financial guy and they're like gold.
• 41:27
  What's gold? It's now a fact that gold has
• 41:30
  outperformed bonds over the last 50 years.
• 41:33
  Yes, U.S., Treasury bonds, those those those instruments that are
• 41:37
  supposed to be the safest thing in the world, the safest thing
• 41:40
  you can do with. Now what I need your help with
• 41:42
  is this because I get mixed signals and I don't think it is,
• 41:47
  but is physical silver considered to be a tier one
• 41:51
  asset? There's certain searches I've
• 41:53
  done on the Internet to try to research this, that a few that
• 41:56
  say, yes, physical silver is a tier one asset, but there's
• 42:01
  other ones that say no, it's not.
• 42:03
  And I'm going to go with no, it's not to be conservative.
• 42:05
  But if anybody out there, if you have any like hard data that
• 42:08
  shows that physical silver is a tier one asset based upon the
• 42:14
  Bank for International Settlements, Basil 3
• 42:17
  regulations, I would be like super interested in seeing that.
• 42:21
  OK, but the fact that gold is is a big deal.
• 42:24
  The other thing we need to remember, we're living in an
• 42:27
  environment where three generations think about your
• 42:30
  parents, think about your grandparents.
• 42:32
  OK, depending on your age, if not, if not, don't know anything
• 42:37
  about gold. In the United States, we are
• 42:39
  living in an environment where multi generationally speaking,
• 42:45
  people have been kept in the dark when it comes to the value
• 42:49
  of precious metals. You got to go all the way back
• 42:51
  to the Wizard of Oz. Do you know, did you ever see
• 42:54
  that movie? All right, you did.
• 42:56
  Everybody did. I'm sure you did.
• 42:58
  The Wizard of Oz. I'm going to tell you something.
• 43:01
  You need to dig in The Wizard of Oz movie and book.
• 43:06
  It was a book, right? Like 30 years, I think, before
• 43:09
  it got turned into a movie. Or 40 years is all about silver
• 43:15
  and gold, period. OK, period, right.
• 43:18
  And the fact that they were taking the United States off the
• 43:21
  silver standard and sticking it to and big British banks that
• 43:25
  ruled the world back then. Remember that was when the
• 43:28
  British Empire ruled the world. They were kind of at the end of
• 43:31
  their rule before World War One and World War Two.
• 43:34
  They were sticking it to the Americans.
• 43:36
  It was a big, you got to dig in the whole movie.
• 43:40
  The Wizard of Oz is about silver and gold, right?
• 43:45
  But multi generationally, right? That was what, 100 years ago,
• 43:49
  the movie now and they kind of modified the movie.
• 43:51
  The book in particular, it's all about silver and gold.
• 43:56
  Ever since then, right? Since the 1930s, the 1970, all
• 44:00
  of it, nobody knows anything about silver and gold.
• 44:03
  So you are a, how would I say this?
• 44:07
  You're brave, right? You're, you're courageous.
• 44:11
  And in a lot of ways, how do I say it?
• 44:14
  It it takes, it takes a lot of fortitude to be able to do what
• 44:20
  we're doing in in our country because most people are going to
• 44:23
  watch CNN and they don't, you know, buy they don't they most
• 44:28
  people have no clue, no clue. Well, The Guess Who does have a
• 44:32
  clue, right? How about the, the PBOC, the
• 44:35
  people's Bank of China? How about the, the Indian
• 44:38
  central bank? We just heard increase their
• 44:40
  gold savings. How about the bank for
• 44:42
  International Settlements, the central Bank of the central
• 44:45
  bankers? How about billions of people
• 44:49
  everywhere else in the world that realize how important it is
• 44:53
  to preserve wealth with silver and gold so we are not alone.
• 44:57
  You're never alone here in the basement, right?
• 45:00
  You're such an important part. We do have to stick together
• 45:03
  because when we're only one in 100 people, it's easy to feel
• 45:08
  like a kind of an outcast. I've told you before, I go to my
• 45:10
  neighborhood swimming pool. Wonderful people, I love my
• 45:14
  neighbors, blah, blah, blah, blah, blah, right?
• 45:18
  They don't want to talk about silver and gold.
• 45:19
  A few of them, maybe every once in a while.
• 45:21
  But you know, people like we are, we're a club and I want you
• 45:25
  to feel welcome here. I hope you feel like you found a
• 45:27
  little home away from home. I'll look forward to seeing you
• 45:30
  next time. Hey, let's go.
• 45:32
  Let's go see how the silver and gold price is doing.
• 45:36
  Take your blood pressure medicine.
• 45:38
  Let's see, are we all right? We're at eight cents on silver.
• 45:42
  We're still really close to $31.00 per oz gold, $2358 per
• 45:50
  oz. Guys, think about this.
• 45:52
  All right, let's go back in time just for a second.
• 45:56
  Back to December of last year, when you and I sat here in the
• 46:01
  basement, right, and boldly, boldly predicted, huh, that we
• 46:06
  would have $2500 gold by May. But we were fighting for $2000
• 46:12
  gold just back in December. All right, look how far.
• 46:17
  Let's go back out there and look one more time.
• 46:19
  Imagine in December if we'd shown you this screen.
• 46:23
  Yeah, we're going to have 2358. We are.
• 46:27
  I want you to repeat after me. We're somewhere between right
• 46:32
  now at this current gold price and gold is the granddaddy.
• 46:36
  We love our silver. I I you know, I'm.
• 46:38
  I'm, I'm. I.
• 46:39
  Don't get mad at me. I don't know how you feel.
• 46:43
  Which do you think is prettier, gold or silver?
• 46:46
  I know gold is more valuable, right?
• 46:48
  You put a gold coin and a silver coin in front of any of either
• 46:51
  of us. I hope that you're going to grab
• 46:53
  the gold coin. You can pick.
• 46:54
  But I think silver's prettier, right?
• 46:56
  But gold is the granddaddy. Gold is like the mafia boss, the
• 47:01
  John Gotti of the precious metals, right?
• 47:03
  Everybody else follows gold. Think about this even right now,
• 47:10
  OK? Right now we're somewhere
• 47:12
  between a stone's throw in a spitting distance from getting
• 47:17
  back to all time highs. And when things go to all time
• 47:20
  highs, when anything, whether it's a stock, baseball cards,
• 47:25
  anything that's traded right goes to an all time high, it
• 47:30
  usually will continue. The odds are in favor of it
• 47:34
  continuing to go higher and higher and higher and higher and
• 47:38
  higher and higher. Citibank says the Fed could cut
• 47:43
  rates eight times in the next year and a half.
• 47:46
  Higher and higher, right, Silver, come on, man, right.
• 47:52
  Once we get, we are in this big battle with silver right now.
• 47:57
  If we can get silver. Hi ho, silver basement dwellers
• 48:01
  above $34 per oz. OK, it's a new all time high.
• 48:05
  I know you can be mad at me and all the time.
• 48:07
  Oh no silver blah blah. No, if you look at a silver
• 48:10
  chart, it's spent very little time ever above $3435 per oz.
• 48:15
  OK to me, $34, I'm going to say it right now, $34.33 that's easy
• 48:22
  to remember. 3433, that's the new all time high in silver.
• 48:27
  OK, from there, that point from 34 to 44 is a very it's like
• 48:34
  riding your bike downhill, OK, getting there to that $34 is
• 48:40
  like riding your our neighborhood's very hilly,
• 48:42
  right? There's nothing stinks as bad as
• 48:44
  I love riding bikes as long as I'm going downhill.
• 48:50
  Excuse me. Sorry guys, I was passing away
• 48:58
  on you there for a second. OK, so right now we're riding
• 49:01
  the bike uphill, but but once we get to $34, it's going to be
• 49:07
  like a a smooth coast. You still got to pay attention,
• 49:10
  you still got to steer, you still maybe got to pedal a
• 49:13
  little bit, but it's going to be an easy ride up to 44.
• 49:17
  And from there with the cup and handle and everything else going
• 49:19
  on, Oh my gosh, it could be absolutely, absolutely crazy.
• 49:24
  Did I miss somebody? Don, thank you for the big super
• 49:27
  chat. Let's throw all the Super chats
• 49:28
  up, Don. Don, wow, super, super.
• 49:33
  Our friend story time a little bit for the silver fun.
• 49:37
  Thank you. And hey, Vincent, thank you,
• 49:40
  Vincent Leone for the Super chat.
• 49:42
  Thank you to our sponsors guys. Don't forget pin bucks if you
• 49:45
  want to check out the best prices on silver, gold and
• 49:48
  platinum group medals. First, mining gold, Canadian
• 49:51
  gold development company with two multi million ounce projects
• 49:54
  in Canada, right, Right. One in Ontario, one in Quebec
• 49:58
  and then a host of other projects.
• 49:59
  And 1st mining, who, I'm sorry, Fortuna Mining who this morning
• 50:05
  put out their second quarter production numbers which were
• 50:09
  pretty darn strong. I need to dig into that a little
• 50:12
  bit later, but Fortuna has big mining operations in Latin
• 50:16
  America and West Africa. Wherever you're joining me from,
• 50:19
  thank you. OK.
• 50:20
  On behalf of myself and Susie, we'll look forward to seeing you
• 50:24
  next time.