Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🔥ALERT - This is HARD To BELIEVE ✅ (Gold and Silver Price, Fed rate cuts!)

Transcript

🔥ALERT - This is HARD To BELIEVE ✅ (Gold and Silver Price, Fed rate cuts!) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
Unbelievable events unfolding right now during a week which
0:06
will be critical for the precious metals prices.
0:09
One week from now will we? Will we be sitting with $2700
0:16
per oz gold, $3435 per oz silver, or will we have numbers
0:23
more like $2400 gold and maybe 292827 dollar silver?
0:31
You want to know? I want to know.
0:33
But one thing we do know for sure, and we're going to explore
0:36
that during this video is that there had been strange,
0:41
unbelievable moves during these last few days heading up to what
0:46
is going to be a new era, a new paradigm in the world of gold
0:52
and silver as the Fed starts to cut rates.
0:55
Hey, we're going to talk about it all in this video, like I
0:58
said, right? We want to dig in together and
1:01
find out. On that note, thank you for
1:03
being here. There is no Ron's basement
1:05
without you. So please subscribe to the
1:09
channel, give the video a thumbs up and super chat.
1:11
Super thanks are always super appreciated.
1:14
So guys, we've seen unbelievable moves and what the rate cut
1:19
expectations are going to be for this very week.
1:23
This is going to send shock waves through the financial
1:26
markets, through the gold and silver markets.
1:29
What can we expect? Let's just go dig in first and
1:33
see what the mainstream media, our good old friends at the
1:36
mainstream media are saying. This is from Yahoo Finance. the
1:41
Fed is set to enter a new era. Even the mainstream media is
1:48
recognizing we are going into a new era, a new weather pattern,
1:51
a new climate change, whatever you, whatever we want to call
1:54
it. With the first, it's like, it's
1:57
like the world monetary system has woken up a new dawn with the
2:03
first rate cut in four years on Wednesday.
2:07
But what comes next? There's a talking head who you
2:12
hopefully can't hear. Hold on one second here.
2:16
Nope, we can't hear her. When the Fed meets on Wednesday,
2:19
officials are expected to mark the end of an era as they cut
2:23
interest rates for the first time in four years and charter
2:28
course for lower rates over the next two years.
2:32
That's a big meeting. This is a big meeting, said
2:34
former Kansas City Fed President Esther George.
2:38
It's one that's been foreshadowed since last year.
2:41
It's it's a, it's long been expected.
2:44
The central bank is expected to lower rates by I don't this is
2:49
we're going to go look at the data guys.
2:50
This is where it gets is is just such BS.
2:53
The central bank is expected to lower rates by 1/4 percent point
2:58
to a new range of 5% to 5.25% from a 23 year high of 5.25 to
3:04
5.5 S. For those of you who don't know,
3:06
when the Fed raises or lowers rates, they do it within a range
3:11
1/4 a quarter percentage point range.
3:15
On Wednesday, when their policy meeting concludes, the actions
3:19
will officially mark the termination of the most
3:23
aggressive inflation and fighting campaign since the
3:26
1980s. I don't want to be a Debbie
3:29
Downer. I don't want to scare you.
3:30
But we need to be realistic here.
3:33
This could actually, ironically, sadly, be a temporarily bad day
3:41
for the precious metals price. I'm going to get you prepared
3:44
mentally for what could happen. Let's run out here to the CME.
3:48
Let's run out here and say hi back to you quickly.
3:52
Be prepared for anything. Don't forget this could be a
3:56
sell the news event on Wednesday.
4:00
I don't want that to be the case.
4:02
I want to be, you know, I, hey, us basement dwellers, I want to
4:05
have us together, right a week from today saying, Can you
4:09
believe we have $2700 gold? That's definitely within the
4:13
realm of possibilities, $3334 silver.
4:16
It's definitely silver can move 10% in a week all the time does
4:22
it all the time. So it's not out of the realm of
4:24
possibilities. However, we need to be realistic
4:27
in this could be a sell the news event because, you know, the
4:31
markets are expecting what the markets are expecting.
4:34
And that's where it becomes even more shocking because have you
4:38
seen what's happened over the last, what, four or five days?
4:41
Now the smartest guys in the room, the big money, the
4:44
investors who make big bets on how much the Fed will be cutting
4:49
rates are telling us something super interesting.
4:52
Let's go out and take a look. I'll make it easy for you to
4:55
understand. Don't worry, we're going to the
4:58
Chicago Mercantile Exchange, the CME Group Fedwatch tool.
5:04
This shows the target rate probabilities for the 18th of
5:08
September 2024. That's Wednesday Fed meeting.
5:12
You know what, I'm going to refresh this because it's
5:14
changing all the time, OK? But it has not changed.
5:21
What you can see here guys is at this point, OK, the odds of 1/4
5:27
percent rate cut are only 39%. The odds of 1/2 percent rate cut
5:35
are now 61%. And again, you can see that down
5:38
here at the bottom, that would lower the range to 5%.
5:42
On the upper end, this one, the quarter percent cut would lower
5:46
the range to 5.25% on the higher range of that.
5:50
So the markets, the big money are betting that that the that,
5:55
that there's a 61% chance that we're going to get a half
5:59
percentage rate cut on Wednesday.
6:01
Now what's crazy about this is it just four or five days ago,
6:05
this was completely opposite. The big money was betting that
6:09
there was like a 75% chance of this over here.
6:13
The smaller cut, the .25% cut. Let me see.
6:17
Hold on a second. Here.
6:19
Let's see here. Nope.
6:22
I wonder if I can. Let's see here.
6:28
Yeah, I can. I can draw.
6:31
This is .25. OK, I won't waste your time.
6:35
Draw a little point. There we go.
6:39
A week ago, the odds over here were like 75% to 25%, OK?
6:46
It is flip-flopped and it's crazy and nobody's really
6:49
talking about it. Not many people are talking
6:52
about this, that the odds of this bigger rate cut have gone
6:56
up, up, up. What's going on?
6:59
What's happening behind the scenes and why are the markets,
7:03
the the mainstream media still saying, well, there's going to
7:06
be a, a .2 a quarter percent rate cut guys, that I mean, at
7:11
this point, what I'm afraid of, what I'm afraid of for us is
7:15
precious metal investors is that if we don't get the half percent
7:19
cut right, the markets going to react in a way that that's going
7:24
to put silver and gold going down.
7:27
And who knows. On top of that, let's not forget
7:31
that right after they have their big announcement on Wednesday,
7:34
there will be a press conference when our old friend, it's been
7:38
about two weeks, he doesn't, he needs some air.
7:40
So bear with me one second. All right, our old friend Jerome
7:47
Powell, there he is. We're going to put him back in
7:50
his box. We'll have a press conference
7:54
and that will be even as important because he'll be
7:57
spewing all types of truths and wisdom to the market and that'll
8:05
move the market too. So be prepared, OK?
8:08
The take away on this guys is it could, I don't think it will be,
8:14
but there's a pretty good chance, I'd say about 3540%
8:18
chance that on Wednesday, this rate cut that everybody's been
8:22
building up to so big could be a temporary.
8:25
And that's the other thing we need that, that, that, that we
8:28
need to remember no matter what happens on Wednesday, OK, at
8:32
this point guys, no matter what happens, it's all temporary.
8:36
It's all, it's all just the long term under there.
8:42
There's like, it's like a flood, you know, like a massive amount
8:46
of water flowing now, which is a result of, of the federal debt
8:52
of the federal government's deficits, right?
8:55
Inflation, the devaluation of the dollar.
8:58
There's a powerful force that will continue to support and
9:03
move higher as measured in paper.
9:06
Unicorn fart does dollars. The prices of silver and gold?
9:10
Not temporarily, right? Temporarily.
9:13
We may have a couple bumps in the road, and again, I don't
9:15
want to be Debbie Downer, but we need to be mentally prepared for
9:19
either option as they unfold. We are in a new era for silver
9:25
and gold. That is, it is what I believe
9:29
almost said my truth, and that is my truth.
9:31
Do you believe that? Do you feel it right?
9:34
We actually called this back in December of last year that that
9:38
new era had started. Us basement dwellers.
9:40
We were a little bit ahead of the curve, right?
9:45
You know why? Because we're willing to dig in
9:47
and do the work. You know what?
9:50
The average American doesn't even have a clue as to what's
9:54
going on right now. The average financial advisor,
9:59
right, who may have been, who knows, you know, selling
10:03
mechanics tools before they got their job, selling mutual funds,
10:07
they have no clue what's going on.
10:09
You really are ahead of the curve, right?
10:11
And sometimes being early can feel a little bit like being
10:14
wrong. And other the other thing I'll
10:16
say and I don't believe that we're going to get smashed, OK,
10:20
the price of silver and gold, but it certainly could happen.
10:23
I'm a little worried. Like I said, I won't go through
10:25
that again. Susie, always Susie silver.
10:28
Susie likes to remind me that I'm on the repeater.
10:32
But I think that that we also have a good good shot at going
10:35
up. the Fed has been defeated. the Fed is on the mat by the
10:39
national debt and deficit. OK, Will here.
10:43
Here's the other thing. Woof, we almost forgot.
10:46
There's other big news. Well, besides the fact that one
10:49
of our presidential candidates almost got assassinated for the
10:53
second time. Banana Republic.
10:55
Anyone will leave that one alone.
10:57
Horrible. Horrible.
10:59
What? Our country's come to Banana
11:01
Republic. That on top of that, the
11:03
national debt, the national deficit.
11:05
But the other thing we're not talking about.
11:07
I'm sorry. I owe you an apology.
11:10
Right. The other force in that water.
11:13
Guys, it's big, it's huge. OK, this this could be huge.
11:20
If this winds up being a nothing burger, I owe you another huge
11:23
apology. And I'm and I'm not going to say
11:26
any of this is for sure, but I'm telling you there's a little
11:30
secret and it's called the bricks meeting.
11:33
And it's going to be happening at the end of October, October
11:37
22nd, 23rd. I believe it is in the smartest
11:41
guys in the room, OK, Like, look, I spend my life
11:45
researching this stuff. The people that I really respect
11:48
are saying this is going to be a huge, huge, major big deal, OK?
11:55
And it's going to it's so, so think about think about this guy
12:00
real quickly, OK? It's it's this big week.
12:03
It's this big week in the sun, OK?
12:05
He has been defeated by the national debt.
12:10
He's even said it. He's warned about it.
12:12
OK, He's not joking around, right?
12:14
Neither is yelling. He's been he's been defeated by
12:19
the national debt, by the national deficit.
12:21
OK, but guess what else you have the nail, the nails that are
12:26
going to keep him in there. That could be the bricks coming
12:30
up. The rest of the world.
12:32
Hold on. We're going to put him away now.
12:35
That's the that's a huge deal. It's a, you know, these guys
12:40
aren't messing around. They control a lion's share of
12:44
the world's resources. They're they're cooperating with
12:48
each other. Well, surprise, surprise, what
12:50
happens when companies, countries, anybody, us, right,
12:54
US basement. But when anybody cooperates, OK,
12:58
short term matters, don't OK, blah, blah, blah, blah, blah.
13:01
Let's go to this here. This is a great point to go to.
13:04
You matter. Your comments matter.
13:06
We got a great comment that we're going to talk about here,
13:10
and this has everything to do, everything to do with why you
13:15
choose right to protect yourself.
13:18
Why do you ask you? I'll ask you that question.
13:20
Why did you decide to buy precious metals?
13:26
If you live in the United Kingdom, you know how much, You
13:29
know how much they pay per oz for UK?
13:31
Britannia, as we talked about this yesterday, blew me away.
13:35
They got to pay like $4142 per oz.
13:39
Anyway, that's besides the point.
13:40
Why do you own, right? Why do you own precious metals?
13:43
To protect yourself, right? Because it's value.
13:46
It's real value. And some of you are confused
13:49
about something, and I want to point that out here.
13:53
Let's pull this up. I thought this was an excellent
13:57
comment and and a great There's a great lesson embedded in this
14:04
from our friend Dennis Stupor. He said.
14:05
Ron, serious question. We're getting serious here.
14:08
Basement dwellers put on our serious hats.
14:10
Let me ask you this. The top 4 commodities have a
14:13
yearly valuation of around $320 billion roughly.
14:19
So why then hasn't any of any of one country just said, well,
14:25
whatever, I will print up enough BS Fiat and buy it all American
14:31
America alone prints up, prints up over 4 trillion every year or
14:36
thirteen times the valuation of these 4 commodities.
14:39
So why then doesn't something like this happen?
14:43
And I, I think what this relates to and it's a great question.
14:47
And for commodities, yes, it could happen.
14:49
We're interested in silver and gold, and I've posed this
14:52
question before myself as well. Why doesn't a country just print
14:57
up a bunch of money and buy a bunch of gold?
15:00
Why doesn't the United States print up much?
15:02
Well, there's there's 2 answers, 2 important critical things to
15:05
remember #1 the the enemy of Fiat paper money is precious
15:12
metals. OK, the enemy of this thing,
15:16
this paper here comes oh, they they just float around my
15:19
basement, right? They're so lightweight and
15:21
Unicorn fart dust, right. The enemy of this is this.
15:29
It's The Daily Show and tell of silver.
15:32
That's a nice one ounce silver round.
15:34
Look at that thing. All right, that's the enemy, the
15:38
enemy of the dollar. So the reason why the Fiat money
15:42
countries like the United States and others don't just print up a
15:45
bunch of dollars and buy a bunch of gold is because that would
15:49
defeat their purpose in 1971 when President Richard Nixon
15:53
took the United States off the gold standard.
15:56
Temporarily, just temporarily. And it is temporary cuz I think
16:00
we will go back, but that's a different story.
16:03
OK. At that point, it was like a
16:05
divorce. If you've ever been through a
16:07
divorce, I won't share for now any of my personal history, but
16:12
I can say with a pretty high level of confidence, if you've
16:15
ever been through a divorce, typically the parties that
16:18
divorce each other aren't real big fans of each other any
16:21
longer. So when President Nixon divorced
16:24
the dollar from precious metals all together, right, The dollar
16:29
and, and, and, and precious metals became enemies of one
16:32
another. So they're not going to print a
16:34
bunch of dollars and buy a bunch of gold.
16:37
The other reason the other reason think about this OK, The
16:41
other reason why they don't they don't have to right.
16:45
If if we were still on if it was 1933 or 1950 and we were on the
16:51
gold standard, right. They don't need gold to print as
16:55
much money as they want right? It's not like the old days when
16:59
we were the dollar was tethered. Look at this I'm going to show
17:02
this thing every day. I I just love it that hold on.
17:09
It takes a second to focus. Come on baby, focus.
17:13
Why are you not focusing? Well, hold on there it is silver
17:22
certificate. You can see right at the top on
17:25
the bottom as it says it's redeemable over here.
17:28
It says 1935. All right, They don't need, they
17:34
don't need gold anymore. They hate gold.
17:37
We got to get that through our thick skulls.
17:39
That's why they're like, oh, we're not going to count the
17:41
gold in Fort Knox. What does it matter?
17:43
We keep it. You know what one of them said?
17:45
You know what? That guy Ben Bernack, Remember
17:48
Ben Bernack, the guy that really, I'm not going to cuss,
17:54
that really ripped off the average American person after
17:58
the great financial crisis. I think it was him.
18:01
You know what he said about gold?
18:02
This makes me mad. He said gold would that somebody
18:08
asked him, why do we hold gold? He said it's just a tradition.
18:11
It's just a tradition. We can print all the money we
18:14
want. How's that working for you, Ben
18:17
Bernack? Yeah.
18:19
Boy, Oh, boy. Well, maybe we need to address
18:21
the fundamental issues in our country that we have.
18:26
I won't. Just trust me.
18:28
We got over 35 trillion in debt. OK.
18:32
The world is changing. The world is changing right now.
18:36
So back to this question. Printing money, Is that what
18:39
China's doing? Wow.
18:41
Thank you, J Lizard for that super chat super sticker.
18:45
Much appreciated. I ask you this question.
18:47
Is that what China's doing? Wait a minute.
18:51
What about those people in India?
18:54
What are the Indian people in India up to?
18:57
Do you think? Maybe, just maybe, the country
19:04
of India is just printing up rupees and buying all the
19:07
world's gold and silver. If we thought about that, is
19:13
that on the radar? Uh oh, Hold on here, Hold on.
19:16
We got a little. We got something coming through.
19:19
Bear with me. OK, we're good.
19:22
Is that on the radar? Is it even on the radar, right?
19:25
Are the Indians just printing them?
19:27
Guys, guys, guys, think about the silver you own that you're
19:32
looking at right now. Realize this, take a deep
19:35
breath, realize this. The country of India is on track
19:39
to import almost 250 million ounces of silver this year, 250
19:46
million. You know how much the entire
19:50
world mining production of silver is?
19:54
850 million. They're going to import like 35%
19:59
of the world's silver, 30%, whatever the heck it is.
20:03
Think about that. What you own.
20:05
Thank you. Hey, Big 10, the Silvershire.
20:07
By the way, I didn't get proper credit.
20:10
This silver round. That's the other side of it.
20:13
I love this thing. It's beautiful.
20:15
That came from Big 10, the Silvershire.
20:17
You got to love silver. I just do.
20:20
You love it? I love it.
20:22
You know what we need to do A little participation.
20:24
If you love silver, I have an assignment for you.
20:27
I love it in the comments. Then we can see where
20:29
everybody's from. All right, hold on here.
20:32
We got more to talk about. More to talk about, Yeah.
20:38
So, yeah. What about China?
20:39
Are they are they printing money?
20:41
We know they're printing money. Are they printing money to buy
20:45
silver, to buy gold, to buy copper, right.
20:48
I mean, pretty smart move if they are on their on their
20:51
behalf. Do you do you believe that we
20:58
can get like super all time highs for gold?
21:03
Look, last night we talked about the story that Vince Lanchey and
21:06
Chris Marcus were breaking about this massive Japanese bank that
21:10
nobody had heard of. I didn't forgot the name
21:12
already. MUFG.
21:14
Yeah, MUFG 168,000 employee bank in Japan, right?
21:20
That really doesn't have a lot of business in the silver and
21:23
gold market. They're like saying, hey, it's
21:26
obvious to us, everybody that gold's going to $3000.
21:30
But but we got to realize something.
21:33
We got to realize something. We live in a world and gold is a
21:36
world market. I know it's United States.
21:40
I live in St. Louis, MO, here in the United
21:43
States. And you know, like, we're all
21:45
that matters. Go America, America forever.
21:49
But the reality is there's a whole big world out there.
21:52
And they also participate in the gold market.
21:54
And what happens in that whole big wide world in the gold and
22:00
silver markets, they matter. And I want to share with you
22:04
just a few because what's happening right now, right now?
22:08
Remember that song? You're probably my age.
22:09
I'm 54 right here, right now. There is no other.
22:14
I don't know, I'd rather be. I was a junior in college.
22:18
Right now, gold is breaking out, so silver, but let's go look at
22:25
gold. James Anderson is where I kind
22:28
of got this idea from. I'm going to give him some
22:29
credit. He has a weekly video that comes
22:32
out on Friday. Let's see if I can pull this up
22:35
without screwing it up. All right, guys, let's go on a
22:37
little field trip. We're going to go to
22:39
goldprice.org. This is what you are looking at
22:45
is my screen and now what you're looking at is up here in the
22:50
golden U.S. dollars. Do you see it?
22:52
Do you feel it right? Look at this right.
22:55
We are going up to all time highs in U.S. dollars, but it's
23:00
not just U.S. dollars. I saw this when I was looking
23:05
through or I thought this said barbarian dollars, but these are
23:09
Barbadian. Is that Barbados?
23:12
Yeah, I thought it said barbarian.
23:14
It caught my eye so I clicked on it.
23:15
So just so you know, in Barbadian dollars, gold is
23:20
breaking out, right? 4500 Barbadian dollars.
23:26
But let's look at the other major currencies, if I can find
23:29
them for you here, you can watch me fall apart live on the
23:33
screen. Oh, here, this is the one I
23:35
wanted to look at. This one's crazy.
23:40
This is the price of gold in Argentina.
23:43
My buddy little Ricky and me, we were in Argentina probably right
23:46
around here. It would have been a good idea.
23:48
I mean, look, I mean, it went from what?
23:51
Like, who knows, maybe let's say 500 Argentinian pesos up to two,
23:58
whatever this is 200. And God, what is that one?
24:05
2,000,000 pesos, that is unbelievable.
24:13
I mean, look at that. Anyway, that's not what we're
24:15
we're looking at the other major currencies.
24:17
See if I can find the euro here. How about Brazil?
24:20
Brazil's a big producer of gold. Look at the price of gold in
24:23
Brazil. But the point here, guys, is
24:26
every one of these charts we look at, gold is breaking out
24:30
the new all time highs. Gold and silver's doing the same
24:33
thing in most every other country.
24:35
Gold operates in a worldwide economy.
24:38
Again, this is Brazilian. I forget what the name of their
24:41
currency is, but it's 14,000 of them.
24:45
Wow. All right, hold on, let's look
24:50
at it in Chinese yuan. Where's China?
24:56
Why is it? How about Canada, Canada,
24:58
Canada, Canadian dollars right here we go right here CAD up in
25:03
the bro that corner. Look at the price of gold
25:05
exploding to the to the hot to all new time highs they don't
25:11
have. How about Swiss francs?
25:13
Same thing then that's a beautiful cup and handle and
25:17
break out. OK, we're seeing the cup and
25:19
handle. I mean, the point here is that
25:22
it's breaking out even more powerfully in almost every other
25:26
foreign currency in the world than it is in U.S. dollars.
25:30
What about the Ethiopian Burr? Oh my gosh, look at this.
25:37
Do you guys see that? Let's see if I can do all data.
25:42
Let's just look over the last two years.
25:49
OK, That didn't seem to work. We'll go back.
25:54
Uh oh. Hold on.
25:56
Oh, no. Now we got trouble.
26:01
That's the wrong one. Price of gold.
26:03
Now we want to go to charts. If you ever want to do this
26:05
yourself, go to goldprice.org. Charts.
26:08
Gold price history, I believe is where this was and we're having
26:15
Internet problems in Saint Louis.
26:17
I hope that you guys can even hear us now that's the wrong
26:22
one. Darn it, Gold price history
26:28
charts, gold, silver ratio, gold price.
26:32
I would have swore it was gold price history.
26:36
And let's go down here. OK, hold on, guys.
26:47
All right, Well, now that I've messed that up, I can tell you
26:54
if you look at a chart of gold in euros, all the European
26:58
countries, same thing. It's taken off to the side.
27:01
If you look at a price of gold and silver right in Chinese
27:04
yuan, But we're focused on gold, same thing off to the charts,
27:08
off to the races. If you look at the price of gold
27:11
in British pounds, same thing off to the races.
27:15
All these countries are coming together, all the rest of the
27:18
world, right? And what does that mean for us?
27:21
That means that we're heading to to higher to higher and higher
27:26
gold prices. I got a nice super chat here and
27:27
a question. Let's see what Stevens asking.
27:30
What's your take on Trump threats?
27:32
100% tariffs to sovereign countries looks interest looking
27:38
to trade and other than the almighty dollar.
27:42
Yeah, I, I think I'll answer that.
27:45
Thank you for the Super chat. Thank you for the question.
27:47
I think that under any scenario, what we are heading into right
27:51
now in the world is a, is an environment where countries are
27:56
becoming more and more nationalistic.
27:59
OK, no doubt about it. Sorry, my phone is blowing up.
28:03
Hopefully you guys can see me and hear me.
28:05
Wow, There's a lot going on today.
28:10
So we're in an, in a nationalistic environment, OK?
28:15
Meaning the countries are starting to look after their own
28:18
interests. America's starting to do it,
28:20
Europe's starting to do it. Obviously China and Russia are
28:23
starting to do it. All of that will only serve.
28:27
I think one, I'll tie this back to silver and gold.
28:31
It what, what we're seeing, think about this, think about
28:35
this, what we're seeing as silver and gold investors
28:38
unfolding right now in our world is that countries, this
28:43
nationalistic movements are starting to trust each other
28:48
less, OK. And when they trust each other
28:51
less, think about this as a silver and gold investor, when
28:55
they trust each other less, part of that is they don't trust
28:59
their currencies, right? The Chinese maybe don't trust
29:03
the Russian ruble. The Russian Russian certainly
29:07
don't trust the US dollar after what happened to them.
29:10
But but but what do they trust? They trust gold and silver.
29:17
They I don't even know that they trust.
29:19
Come on, silver. Oh yeah.
29:21
We need to go out and check and take a look at the silver price
29:23
update. They trust gold and silver now.
29:27
We're even seeing this with the bricks countries right now right
29:31
before our very eyes. Thank you for that super chat.
29:35
OK, Make sure I didn't forget anybody here.
29:37
Silvershire. Thank you, Ron.
29:40
I should shave before we see $50.
29:42
Yes. OK, Back on track.
29:45
Back on track. Basement dwellers, they don't
29:47
trust each other. They don't trust each other's
29:50
currencies. They trust what you and I trust
29:55
and what the central banks of the world trust.
29:58
They trust precious metals. I would even say maybe they
30:01
don't trust crypto. They may trust a crypto if the
30:05
crypto was actually tied back to real physical metal.
30:10
But we won't go down that path. This is not an anti crypto show.
30:13
But what I do know and what all the what's all the evidence
30:17
showing us right now is that the countries of the world trust
30:21
gold, trust silver some a top Chinese analyst.
30:27
I I heard say this about six months ago and I think it's it's
30:31
a massive golden nugget for us talking about the bricks,
30:36
talking about the prospects of a gold backed bricked current
30:40
bricks currency. He said we don't trust the US
30:44
dollar. OK.
30:46
But but the reason why we want gold potentially to back a trade
30:53
settlement currency between the BRICS countries is even though
30:56
we don't trust the US dollar, we trust each other's currencies
31:01
even less. Think about that.
31:03
Think about that within the context of what is happening in
31:07
the world right now. It is huge.
31:10
All right, let's go out and check.
31:12
Let's go out and check on the gold and silver price.
31:13
We haven't done that yet today. And hold on, here we are on a
31:21
field trip. Here we go.
31:23
Thank you, Steve. OK, thank you, Charlie Marley,
31:27
60. Thank you, Steve for the Super
31:29
chat. Let's get this and then we're
31:31
going to go check the gold and silver.
31:33
And thank you Silvershire and Jay Lizard.
31:40
OK, let's run out to hold on here.
31:45
And we're having big Internet issues in Saint Louis.
31:47
I wonder if that's a nationwide thing.
31:49
What the heck is going on? OK, here we go.
31:54
All right, here we are at pin backs and that's the gold price.
32:00
Down $6, silver down 14 cents. Right now.
32:05
We're going to do an update. Let's cross our toes.
32:07
All right, It's going to be OK no matter what it is, could be
32:10
down big, about the same down $5 for gold.
32:14
Guys, look at that gold price, 2578 dollars.
32:19
Look at that silver price, $30.70.
32:22
We're going to run out and take a look at what the actual, I
32:26
mean, come on, right? This is this is we can, we can
32:29
feel lucky here in the United States, right, that we get a
32:33
silver price quoted at $30.70 and that we can buy silver, buy
32:38
gold at pretty darn close to the spot price.
32:41
Let's go here. I'll show you $30.70.
32:44
Let's go to the silver Britannia.
32:46
This is my latest favorite coin. You can buy those for $33 here
32:54
at Pembacs. OK, if you lived in the United
32:56
Kingdom and you wanted to buy this exact same coin based on
33:00
what people are telling me and sending me from the United
33:03
Kingdom is like the lowest price you're going to find is like 41.
33:08
The dollars in U.S. dollars because they have a debt to pay
33:11
a 20% value added tax. So if you're shopping for for
33:14
precious metals, look, the live streams are made possible by the
33:18
sponsorship in support of channel sponsor Pembecks.
33:23
It's a company I've worked with. I worked with them before they
33:26
sponsored the channel. I feel awesome about having them
33:29
as a sponsor because I get awesome emails from the basement
33:34
dweller community, overwhelming positive feedback about their
33:38
experiences with Pembacs because you always get the ultra
33:41
competitive pricing, you got a great selection and it's a
33:45
company you can trust. And the packages come wrapped up
33:48
like little Fort Knox's. What else could you ask for?
33:51
But right, I'm not going to tell you what to do, just I would
33:55
recommend you may benefit from checking out Pembacs next time
33:59
you are shopping for silver, gold, platinum group metals
34:03
online. And please, please, please, if
34:06
only one person benefits from this next statement, I hope
34:10
maybe it's you. But if only one person, if
34:13
you're ever going to convert an IRA, right, your individual
34:16
retirement account into precious metals and you see one of those
34:19
fancy television commercials with a high paid celebrity
34:23
endorser, talk to whoever you want to.
34:26
But I want to recommend, just tell you, you may benefit from
34:29
doing two things #1 take your time, compare how much actual
34:33
silver and gold you're going to get from your different options
34:36
since you're taking your time. And please talk to the guys at
34:40
Pmbex and compare how much silver, actual actual silver and
34:45
gold, how many ounces they can get for you during a conversion
34:49
compared to the other options that you have out there.
34:52
And then make your decision. OK, where was I?
34:55
Here we go. We got to go talk.
34:56
Let's go check I promised you. Do you believe in ghost?
35:01
Hold on a second. Do you believe in ghost?
35:06
I believe in ghost. I really believe in the Oriental
35:10
ghost. He's one of my favorite people,
35:12
a guy who is always, always, always on top of things.
35:18
And you know what? I want to come back to this
35:20
post. So we're going to go on a little
35:21
field trip here around the Internet, which appears to still
35:25
be working. And we'll go to Twitter because
35:28
we're old. Oh, they changed the name.
35:30
Did you know that they changed the name of Twitter to X?
35:33
What? Login to Twitter.
35:35
I'm already. But I better already be logged
35:37
in. Oh, my gosh.
35:38
OK, well, you can't see my password.
35:44
All right. Already logged in.
35:45
I know. What the heck?
35:47
What? OK, login.
35:52
That's my password. A bunch of dots.
35:54
Boost your account. No, I don't want to do that.
35:56
I'm on a live stream. Let's go to the Oriental ghost.
36:01
Thank you, guys. There he is by Zhajun, the
36:06
Oriental ghost. I believe in ghost.
36:08
Let's see if he let's see if he did us a solid today and he put
36:13
out this. Oh, this is from September.
36:15
Oh, he's a day late, I think. Yeah, Oriental ghost.
36:19
Anyhow, this is the silver price.
36:24
It's been a while since I've done this on the Shang.
36:27
Hi, Exchange. And why do I emphasize the high
36:31
in Shanghai? Because it's always higher.
36:35
This is AG Silver, all right. This is September 13th, $32.40.
36:41
For those of you who are new, this is critical because the
36:45
Shanghai Gold Exchange is a physical market.
36:50
It's not like the COMEX and the LBMI that we have in the United
36:54
States of America and London, England, right?
36:57
Right where they get to pay 40 bucks an ounce for silver coins.
37:00
What a joke. None the less, the Shanghai Gold
37:03
Exchange SGE, this is a physical price for silver.
37:08
That's the real price $32.40 here in the United States.
37:14
You know we're like what about 10% lower on the make believe.
37:19
So we are really lucky in two regards because because and next
37:24
we're going to talk about the bubble.
37:26
Don't worry, we're I'm going to show you something that is going
37:29
to blow your mind about what's going on in our market in our
37:34
world right now. OK, But let me, let me let me
37:37
remind you how lucky you are. If you live in the United
37:41
States, I know you guys are joining from all over the world,
37:43
but us Americans, you know, we complain about a lot and we
37:47
deserve to write our the deficit, the debt.
37:49
But one thing we're double lucky on is our ability to buy silver
37:55
right now because that price that they quote on the COMEX and
37:59
the LBMAI got a little hint for you.
38:01
It's not real, it's fake, it's pushed down, right?
38:05
We, we know what the real price is like on the Shanghai Gold
38:10
Exchange, 10% higher. So when we buy silver in this
38:14
country, we get to buy it based off an artificially low spot
38:18
price. Have you ever thought about
38:20
that? Right.
38:21
And as a double bonus, and we love the United Kingdom and I
38:25
love, I feel sorry for you guys. Most of us don't have to pay any
38:29
sales tax. I almost feel like I want to go
38:33
buy some silver, but I haven't. I got it written down right
38:37
there If and I don't think it will.
38:39
And trust me, over the last 20 years, boys and girls, I bought
38:43
a lot of silver. OK, I keep it off site, but I
38:48
don't need to buy anymore. But if it does get to $26.50, I
38:52
will buy more. But we get to buy it now.
38:54
Now this is nuts. This next point, this next
38:58
point, this is the grand finale and it's nuts.
39:02
Before I get to the grand finale, let's remember a couple
39:05
things. First, I want to say thank you
39:06
to our other Chancel channel sponsor.
39:08
First Mining Gold just did an interview with Keith Neumeyer.
39:12
He's the founder and chairman of First Mining Gold.
39:15
You can go to the Ron's basement YouTube web page and find it.
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Keith is a great guy, super well respected within the precious
39:22
metal sector. First Mining Gold has several
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multi million ounce development stage projects in Canada, Gold
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in the ground in Canada. You can learn more about them at
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firstmininggold.com and Fortuna Mining, what they used to be
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called Fortuna Silver, but they changed their name because now
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they actually produce a lot more gold than silver.
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They still produce silver right in Mexico and in Peru, Latin
39:49
America. They also have a big gold mine
39:51
in Argentina. But they're also a major gold
39:54
producer in the rapidly expanding region of West Africa.
39:58
They got a mine in Burkina Faso. They got a mine in the Ivory
40:01
Coast and they have an an exciting advanced stage
40:05
exploration project in Senegal. The Diamba Sood project, they
40:12
got great news coming out. They're, they're, they're
40:14
making, you know, great cash flow.
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The first half of the year has been awesome.
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You can learn more about them at Fortuna mining.com.
40:20
Now let's talk about, we got two more big things.
40:23
We had 800 people in the basement on a Monday.
40:28
Hey, we're going to have fun. We're going to have a lot of
40:30
fun. We got two more big, big things
40:33
to talk about #1 be prepared. OK, here is there.
40:37
What do you think is going to happen?
40:41
I don't want to give it away, but what do you think is going
40:43
to happen if hold on, drink of water.
40:52
Does anybody else have horrible allergies lately?
40:54
God, Saint Louis is like a desert.
40:56
Anyway, what do you think is going to happen when when the
41:00
Chinese economy really collapses?
41:03
There's going to be a massive, this is going to be this could
41:05
be huge, especially for silver, OK, There's going to be a huge
41:11
stimulus coming out of China that China the second biggest,
41:16
some people say the biggest economy in the world.
41:19
There's going to be a massive stimulus coming that could that
41:23
could be a unbelievable continued additional marginal,
41:30
if you want to use a fancy word, source of demand, in particular
41:34
in the silver market. Here's some news we got out this
41:36
morning. China released a slew of
41:40
worrying economic data. August factory output down,
41:45
retail sales down and investment numbers missing the mark.
41:50
Urban jobless rate rose to a six, six month high.
41:53
While year on year, year, listen to this year on year.
41:57
Home prices fell at the fastest pace in nine years.
42:04
That's China. Now, could that be the United
42:06
States soon? I mean, we got a bubble of epic
42:10
proportions. Look, I'm a homeowner.
42:12
My house is not worth what Zillow says it is.
42:17
And if I were to sell it for that much, I'd have to buy
42:19
another overpriced house. Nobody can afford it.
42:22
We're going to see the same thing here in the United States
42:26
in the coming 6 to 18 months. Mark my word on that.
42:32
So what we're expecting is, is what's going to happen out of
42:35
China. This is kind of inside news.
42:38
OK, look, I don't have a crystal ball.
42:41
This is my thought, but I'm getting this from some very good
42:44
sources. Be prepared for a big for China
42:48
to do a massive, I mean, gargantuan.
42:52
There's going to be yuan, yuan, Chinese yuan falling from the
42:58
sky. Some of it may even blow over
43:00
here to the United States. Some of it, how would you like
43:02
this may even blow into your basement because you know why
43:08
it's going to make the silver price skyrocket.
43:11
OK, I could be wrong. Don't make any financial
43:13
decisions based on anything I'm sharing with you.
43:17
But I'm usually right. And it could be a big good day
43:21
for silver investors. OK, The other thing, the other
43:27
massive thing that can happen. Let me see if I have this.
43:29
Hold on, bear with me, guys. Oh, man, here we go.
43:34
So much more to talk about. This has to be repeated.
43:41
This is this is absolutely mind boggling, that picture of that
43:45
Gucci purse. And if you can, you guys see.
43:47
Hold on. I don't think you can see.
43:49
Hold on. Can you see?
43:54
Yeah, you can't see. Look, wait a minute.
43:57
Look there, there, right there, that's Susie's Gucci purse that
44:04
I had no idea she had and took her like an hour to find it.
44:07
Anyway, the gold bears holding it and here's why.
44:11
OK, because this Gucci purse can carry 600.
44:17
For those of you that miss this, please hold on to your socks and
44:20
underwear because you're going to be blown away.
44:23
That purse can hold 600 ounces of gold, 600 gold coins.
44:28
OK, which is about 40 lbs. That equals 22,000 barrels of
44:36
oil. I'm I was just absolutely that
44:39
one purse with 600 gold 1 oz gold coins is the equivalent you
44:45
could buy 11. I'm sorry, 22,000.
44:48
That's like, that's like the the Boston Celtics wherever they
44:53
play. I'm horrible with sports.
44:55
Their arena in every seat being filled with a barrel of oil.
45:01
That one guys what that means. And I think what's so critical
45:04
and so cool and that came from our friend John Little at the
45:07
Silver Academy. Does that even make sense?
45:13
So if you want to, this is what this is what I think US silver
45:17
and gold investors. And I don't know, maybe it's a
45:19
Radio Flyer wagon full of silver or 8 radio or 10 or well,
45:24
anyway, it'd be 90 purses. That's what it would be.
45:27
Oh my God, I'm so sometimes I'm a little dense.
45:30
If you wanted to think of silver in that same regard, you can
45:33
have one purse, this purse full of gold coins.
45:37
OK, 600 gold coins and you get 22,000 barrels of oil.
45:42
I think we covered that already, Ron.
45:45
But if you have 90 of these purses, because the current,
45:50
we're going to go on the conservative side, the current
45:52
gold to silver ratio is 90 to 1. So correct me if I'm wrong, but
45:55
if you had 90 of these purses full of 600 silver American
46:00
silver Eagles, and I bet some of you probably got that much, that
46:04
would also buy 22,000 barrels of oil.
46:08
So what does that mean? That means guys, OK, if you're
46:12
going to invest in real assets, OK, let's say, let's say I think
46:17
I know how Susie is going to answer this question, but I got
46:19
I got a, I'm going to go to Susie and say my wife silver
46:23
Susie, right? Big part of the channel.
46:26
So is Jake from Jake's custom parts and Big 10, the
46:29
Silvershire and Annie Oakley, the moderators that you can all
46:32
type 888 to say thank you. But I'm talking about Susie, the
46:36
love of my life. And I say, Susie, we got all
46:39
this money here in the basement, right?
46:41
All this paper money, we need to convert it to something real.
46:47
So here's our options. We can buy gold coins.
46:50
I can fill that Gucci purse full of 600 gold coins or honey.
46:55
We're going to have we're going to buy 22,000 barrels of oil.
46:59
It's going to be stacked in the yard.
47:02
You know she's not going to go for that because she's already
47:05
pissed off about the yard not having any grass in it.
47:08
She's been breaking up acorns. Whatever, buy here.
47:11
Look, anyway, all right, buying this.
47:14
I had to buy this the other day. Huh.
47:18
Shady mixture, grass seed. That just shows us how powerful
47:27
gold and silver are and how, what's the word?
47:30
Convenient? They are as a store of value.
47:34
All right, one last point. I mean, what are you going to
47:37
buy? You going to buy?
47:39
Oh, Susie. Oh, we could buy.
47:41
We could buy 15,000 bushels of wheat.
47:44
Where we going to store it? You know what I mean?
47:46
Like there's nothing real in the world that compares the silver
47:52
and gold for storing value. You know my friend ball guy
47:59
money, the ball guy money YouTube channel, A lot of you
48:01
guys watch him. We love him.
48:03
We were talking once. Look at that.
48:04
That came from coin shop Chris. Don't forget coin shop Chris has
48:07
a YouTube channel not too coin shop chris.com.
48:10
He talks a lot more about coins and junk silver.
48:13
Anyway, bald guy money. Our friend Rodger, I was talking
48:17
to him one day and he he reminded me this is like a
48:22
battery, but it's not storing energy.
48:25
This is not storing energy. No, I'm sorry.
48:28
Like electricity. It can we know that whole
48:31
prospect. It really stores value like
48:34
nothing else. It's like a value battery.
48:37
You know, if you come do work for me at my house and I try to
48:40
pay you with these say no, OK, if Ioffer you, these say yes,
48:48
because you know what? If you don't have anything that
48:51
you need at that time and you just hold on to these, they go
48:55
down in value. If you hold on to these, they're
48:59
going to store. Isn't that beautiful?
49:03
They're going to store their value over time.
49:07
Now I'm going to tell you something scary.
49:10
All right, we're going to end on this, but I got it.
49:11
But I'm going to show you something that I think is
49:14
frightening for most Americans, and they don't even realize that
49:19
it's going on. OK, This just blew me away.
49:23
It was. What's the word?
49:24
I was flabbergasted. I was taken aback when I read
49:27
this. I had no idea.
49:30
And hopefully I've got it right here.
49:32
All right, let me let me make this bigger so maybe you can see
49:35
it a little better. OK, look at this.
49:39
This is from Edward Grossky on Twitter.
49:43
OK, he said at the height of the March 2000.com bubble.
49:48
Remember that guys? youknowthe.com bubble, Cisco.
49:52
Remember Cisco was like, you know what are the one of the
49:55
Super great stocks to own had a market cap that was worth 5.5%
50:02
of the USGDP. To me that's insane.
50:05
That one company, right, Cisco had a market cap that was, but
50:10
it was 120th, 5 percent, 120th of the USGDP.
50:17
Hold on to everything you got on, cuz you're going to get
50:19
blown away today. Nvidia's market cap today is
50:26
worth almost 12% of the GDP of the United States.
50:33
That's like 1/8 of our GDP, right?
50:37
Is is Nvidia's market cap. That is a bubble.
50:42
That is a bubblicious. That is I'm rattled, I'm
50:47
startled, I'm shaken. I don't think that anyone, I
50:51
don't think the average American can even realizes this or could
50:55
even probably even understand like we can.
50:58
This is just absolutely insane, OK?
51:01
I mean, look at look at this chart.
51:05
Oh, shoot, hold on. It was easier to see on the
51:07
other page. There we go.
51:09
Look at that. OK, N Vidia 11.7%, that's like
51:15
1/8 of our GDP. OK, enterprise values.
51:20
This was Cisco. Cisco crashed.
51:23
OK, woof. OK, All right, guys, that's what
51:27
we're into. And let me tell you something.
51:29
Why does that matter to you as a silver and gold investor?
51:33
Because when some money starts coming out of these tech stocks,
51:38
OK, when money starts, it's it's the old pyramid.
51:41
Hold on. I think I got it here.
51:44
Let's just pull it up. We can laugh at all my different
51:47
pictures. That's the reserve currencies of
51:52
the world. All right, And that's not it.
51:56
That's not it. That's not it.
51:57
SA. Those are silver prices in a
51:59
bunch of different countries. Look at how they're going
52:02
through the roof. That's not what we're looking
52:04
for. Hold on.
52:07
There's success. There's why we're going there.
52:09
Susie. There's some motivational
52:11
quotes. Gold bop.
52:14
If I don't have it here, you guys are going to be mad at me.
52:16
Silver boop. Boop.
52:19
Oh, no. Oh, no.
52:22
Oh, no. All right.
52:24
Hold on. Hold on.
52:26
Sorry, guys. I appreciate you staying with me
52:29
here. The reason why it's a big deal
52:32
is this John Exter. OK, American economist, worked
52:39
for the Fed. Hold on, Images.
52:45
OK. And we'll go to this one.
52:52
Seeking Alpha. You ever know you can do this?
52:56
Open image. Open link.
53:00
Now hold on. Copy.
53:02
Open image. A new tab.
53:04
Let's see if this works. Well, there we go.
53:06
OK, gold and silver are at the bottom of this pyramid when
53:10
money starts falling out, Right? All the synthetic crap up here.
53:15
Sorry, bank money, government bonds, securitize, blah, blah,
53:19
whatever. Private business derivatives
53:22
when just a tiny bit and I put stock, I put bubble stocks.
53:26
Like if Nvidia's 1/8 of our national GDP.
53:29
Are you kidding me? Right.
53:31
I mean, I'm we're talking about if, if 1/8 of the market cap of
53:36
NVIDIA were to fall out of the Unicorn fart dust world because
53:41
down here are gold and silver, OK, and this is old 6.4
53:46
trillion. Nonetheless, that's the base of
53:48
everything. It's just a tiny bit of all this
53:52
make believe synthetic. All this stuff is paper,
53:55
electronic, synthetic, made-up, OK debt, all of it, just a tiny
54:01
bit including I say a little bit of the market cap of the of the
54:06
NASDAQ, even just a little bit of the market cap of NVIDIA.
54:10
It could be it's so critical to understand the amount of money.
54:17
OK, you are special. You are unique.
54:23
There's only one you. There's only one me.
54:25
And by the way, it is a big deal you're here.
54:27
Thank you. OK, but that's not the point.
54:29
You are special and unique in many ways.
54:32
But one way that you and us and the other 800 people of us that
54:35
are together right now share is that we know what's going on
54:40
with overall with extras Pyramid, you're special and
54:44
unique because you've made the decision to own gold, silver and
54:50
or precious metal mining stocks. One of those three, I can say
54:54
that with a high level of confidence, OK, that what is so
54:59
important to remember, and I heard it quoted just the other
55:02
day, one will say 1%, you're A1 percenter.
55:06
Welcome to the club, welcome to the basement, welcome to the
55:08
world of silver and gold. That a long term average that 1%
55:13
of the world's financial assets are in gold, silver and precious
55:16
metal oriented investments. Just the recent long term
55:21
average, probably, I don't know, the last 20 years, 30 years,
55:24
that number is closer to 5%. Guys, it is so small.
55:30
The silver market is what, at $30.00 an ounce, a billion oz
55:35
made a year, A $30 billion market.
55:38
That's like a little fart out of Apple computer.
55:41
They could they, they could probably buy the whole world's
55:44
annual supply of silver with one day's profits.
55:48
I don't know, don't quote me on that.
55:51
Or a month or a week or something, right?
55:53
They could probably buy up every publicly traded silver mining
55:57
company with a quarter's worth of their profits, maybe even
56:00
less. I mean, Home Depot, I cannot
56:03
stand when I have to go to Home Depot, But none the less, right
56:07
there, market cap, just that hardware store is more than all
56:11
of the silver mining companies combined.
56:12
Thank you for being here. Thanks for putting up with us,
56:15
basement dwellers. It's a big deal you're here.
56:19
On behalf of myself, Susie, the moderators.
56:22
Thank you to the moderators. We want you to come back.
56:25
OK. Welcome.
56:26
You're part of the group, OK? Together, right?
56:29
Leave comments because that's how we learn from each other.
56:33
Together we got this. I'll see you guys soon.
56:36
Thanks again for being here today.
56:38
Bye. Bye.