Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 ALERT 🚨 A SILVER Shortage AND This? -- (War, Recession, Dollar, Interest Rates)

Transcript

🚨 ALERT 🚨 A SILVER Shortage AND This? -- (War, Recession, Dollar, Interest Rates) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  The silver price and the gold price, well, heck, they've been
• 0:04
  on a tear lately. We don't know how to react.
• 0:06
  We're not used to such strong price movements in our friends
• 0:11
  silver and gold, but will it last?
• 0:15
  We're going to talk about that in this video.
• 0:18
  We're also going to talk about a shortage of silver, not just on
• 0:23
  the retail bullion size, but the big picture of what's going on
• 0:28
  right now in the world of silver.
• 0:31
  That points towards a silver shortage.
• 0:33
  And we've got a analyst who's calling for $2700 gold, and it's
• 0:41
  interesting we're gonna dig into what he says because he actually
• 0:45
  like poo poos. A lot of the common thesis items
• 0:51
  that a lot of people use to explain the benefits of owning
• 0:57
  precious metal. So we're going to dig into what
• 0:59
  he says, listen to what he says. But what's super interesting is
• 1:03
  he then goes on to predict $2700 gold.
• 1:06
  And I'm going to tell you when and why he sees that happening.
• 1:11
  Nobody cares about gold and silver.
• 1:13
  We know that. We're going to talk about that
• 1:15
  as well. And Rick Rule had something very
• 1:19
  interesting to say about what we can anticipate within the next
• 1:23
  10 years. And we're going to talk about
• 1:25
  how that directly can relate to the price of gold.
• 1:28
  The price of silver is well, thank you guys for being here.
• 1:32
  We got nothing better that we could be doing than hanging out
• 1:35
  together on a Saturday morning. It's a big deal.
• 1:38
  I appreciate you giving me your time.
• 1:40
  Please give this a thumbs up. That helps me feel better.
• 1:43
  I'm a delicate flower, you know, and it helps get this
• 1:47
  information out to more people because you're probably like me.
• 1:51
  Do you believe that silver and gold are a great way to not only
• 1:55
  invest but also protect ourselves?
• 1:59
  Right. We dig in the dirt.
• 2:00
  We go undercover. Now let's talk about what's
• 2:03
  going on in the silver market. I had a very interesting comment
• 2:08
  sent to me by one of our subscribers, PRS Ryan.
• 2:12
  Let me let me let me break down what he said that shows this
• 2:16
  developing shortage in the silver market.
• 2:19
  He says it's calculated that there is a 1/4 billion oz, 1/4
• 2:25
  billion oz, that's the same as I believe 250 million ounces of
• 2:31
  silver deficit for 2023, OK. Meaning that the demand for
• 2:37
  silver over the amount that's being mined and provided by
• 2:41
  recycling right is 250 million. There's there's a shortage of
• 2:45
  250 million ounces above ground reserves.
• 2:49
  This is interesting. Our estimated again this is
• 2:52
  according to Mr. Ryan at 4 billion oz.
• 2:56
  So there's 4 billion oz sitting above the ground right now.
• 3:01
  Two billionaire owned by the banks.
• 3:03
  So the banks own 2 billion ounces of silver and two
• 3:06
  billionaire owned by the public. That's you.
• 3:10
  That's me. OK.
• 3:11
  So of the 4 billion ounces of silver sitting on the, that's
• 3:15
  out of the ground in storage either in your basement or my
• 3:19
  vault or wherever, right? Of all that four billion, 2
• 3:24
  billion is held by investors, 2 billion by banks.
• 3:26
  I didn't know that. I found that very interesting.
• 3:29
  At what price will physical silver be made available to
• 3:34
  supply this deficit? Now let's back up for a minute.
• 3:38
  Of that 4 billion, right, 250 million this year alone will
• 3:44
  have to be taken out of that. And if the demand for silver
• 3:49
  continues to increase, like is projected because of solar uses,
• 3:53
  because of electronic uses, because we have a dwindling
• 3:57
  output from the mining companies, we could see that
• 4:01
  number raised to as much as maybe even a half billion
• 4:04
  ounces. That, you know, look, there's
• 4:06
  only four billion above ground right now, and not everybody's
• 4:10
  going to sell. So he poses this question.
• 4:12
  At what price will physical silver be made available to
• 4:16
  supply the deficit? The banks are clearly not
• 4:19
  selling. He's up.
• 4:22
  Up. Yep.
• 4:23
  Guys, look, she's back. Susie's back.
• 4:27
  She got new batteries in the walkie-talkie.
• 4:29
  I'm going to ring the bell. 100 thumbs up.
• 4:35
  That's one ring of the bell for each ten thumbs up.
• 4:38
  Thank you very much. You guys are the best.
• 4:40
  Banks are not selling. He says go check the COMEX
• 4:44
  contracts to confirm banks are not selling their silver.
• 4:49
  Owners of physical silver. Now that's you.
• 4:52
  Are you selling your silver? Am I?
• 4:54
  I'm not selling. I've never sold one ounce of
• 4:56
  silver. I don't think I ever will sell
• 4:59
  one ounce of silver, to be honest with you.
• 5:01
  I might convert it at a super high value relative value for
• 5:06
  maybe land or another real asset if the if we get into a little
• 5:11
  bubble situation with silver. But I'd never sell any silver.
• 5:16
  OK, owners of physical silver willing to convert the Fiat will
• 5:22
  fulfill this shortfall and determine the true value.
• 5:27
  So what he's saying is that at some point, right, the people
• 5:30
  that own it, either the banks or the individuals, as the price
• 5:34
  measured in Fiat Unicorn fart dust goes up, at some point
• 5:38
  people will sell, OK, demand is forever higher than supply.
• 5:45
  Are we at peak silver? I want to pose that question to
• 5:49
  you. Remember peak oil now, right?
• 5:52
  And now they're talking about peak gold.
• 5:54
  Have we reached peak silver? Have we reached a point?
• 5:58
  Because we know for the last few years the amount of silver being
• 6:02
  pulled out of the ground has gone down.
• 6:04
  We know there's minimal investment being made into the
• 6:08
  pipeline of future silver projects for the silver miners.
• 6:13
  We know that the majority of silver comes as a byproduct of
• 6:18
  copper mining, zinc mining. We also know that those metals,
• 6:23
  the newer deposits are occurring with less and less coexisting
• 6:29
  silver in them. Where will the silver come from?
• 6:33
  OK, demand is forever higher. Thank you for pointing that out,
• 6:38
  Mr. Pieris Ryan, right, demand is going up while supply is
• 6:42
  going down. Think about this new reality.
• 6:46
  So do you hold convert your convert to Fiat or stack?
• 6:51
  That was his question. Me, I'm a holder, right?
• 6:54
  I'm not going to convert this to to Fiat.
• 6:56
  I hope you're not going to convert to Fiat either.
• 6:59
  But as we're moving into this next 10 years, I thought that
• 7:03
  was a great synopsis of the big picture for silver in regards to
• 7:08
  a potential silver shortage. Now that guy, Jeff Christian
• 7:12
  from what is it, CPM Group, he would say Ron's a pumper, Ron's
• 7:16
  a a guy people like me that talk about silver shortages are are
• 7:20
  pumpers I'm somehow, you know, secretly supported by the silver
• 7:26
  mining industry, which is not true by the way.
• 7:29
  This right. Data like that to me indicates,
• 7:32
  yeah, sure, there's 4 billion ounces of silver available
• 7:36
  according to this data, right. But we're also slowly draining
• 7:42
  that. And I wouldn't even say slowly
• 7:44
  draining. I would say we're quickly
• 7:46
  draining that silver from that stockpile, right.
• 7:50
  This year, 250 million oz. And as the demand continues to
• 7:54
  go up, we're going to see an even faster drain, while at the
• 7:58
  same time, right, that deficit continues to grow as well.
• 8:03
  I think there's a bright future ahead for the silver price.
• 8:07
  Not just price, right? Because that's measured in
• 8:10
  dollars. Who cares about the price, the
• 8:12
  value? You know, a loaf of bread could
• 8:15
  wind up costing 20 dollars 5-10 years from now, right?
• 8:19
  What we want to make sure is that with that ounce of silver,
• 8:23
  even if bread cost $20 per loaf, instead of getting maybe 10
• 8:28
  loaves like you do now, maybe we'll be able to get 20 or 30,
• 8:32
  maybe even 100 loaves of bread because the silver market is so
• 8:37
  small. Think about it, A billion oz a
• 8:42
  year, roughly in total is what comes from the mines and
• 8:45
  recycling. It's only $20 billion, guys. 20
• 8:50
  billion? Yeah, I know only twenty.
• 8:51
  Well, think about this. Our president wants to send 100
• 8:55
  billion to help foreign countries in their war efforts,
• 8:59
  right. That's 1/5 of what?
• 9:01
  Of what? Of what we're going to send 20
• 9:03
  billion. I mean, the amount.
• 9:05
  The silver market is so small, so delicate.
• 9:07
  Thank you, Craig, for the Super chat.
• 9:09
  My friend always appreciated the Super chats.
• 9:12
  They go a long way helping support the channel and the
• 9:15
  family here at Ron's basement, they're all upstairs
• 9:18
  nonetheless. Nonetheless, 20 billion It's a
• 9:21
  small market. It's sensitive, It's delicate.
• 9:25
  If you want to get yourself some silver before it's maybe all
• 9:28
  gone right, you want to get your little share of that 4 billion
• 9:31
  oz. You know where you can get it?
• 9:33
  Right there. Pinbex Online Bullion dealer
• 9:37
  sponsor of Ron's Basement. I buy my metal from Pinbex.
• 9:42
  Check them out. You'll find the best prices, the
• 9:44
  best selection, OK, and the best service.
• 9:48
  And they donated A10 oz Silver Bar to the Big Ron's Basement
• 9:52
  Giveaway tomorrow, Sunday, October 22nd.
• 9:57
  Let me check. Yes, I'll put out the giveaway
• 10:00
  video with explicit instructions on what you'll need to do, which
• 10:04
  I'll give that away to you. Right now.
• 10:06
  You'll just need to leave one comment on that video and you'll
• 10:10
  be automatically entered into the giveaway.
• 10:13
  And I'll tell you exactly what the comment, the one word that
• 10:16
  the comment has to include, OK. So be on the lookout for that
• 10:19
  because we got a lot of other stuff.
• 10:20
  Jim M, who's here in the chat and moderating and please say
• 10:24
  thank you to all the moderators. Jim donated some silver, I'm
• 10:27
  going to throw some in. We've got other amounts.
• 10:29
  It's crowing shot. Chris has some stuff in there.
• 10:32
  We're going to have some gold backs in there.
• 10:34
  It's going to be a big giveaway on Black Friday.
• 10:37
  So stay tuned for that. All right, guys, are we?
• 10:41
  Are we? How does this make you feel?
• 10:44
  Are we in a perfect set up for the gold and silver price right
• 10:50
  now? Is Ron just a hopeless optimist?
• 10:53
  Thank you, Alexander. Thank you, Alexander.
• 10:57
  Alexander for the Super chat. Wow, you guys are blowing me
• 11:01
  away. Are we in a new paradigm?
• 11:04
  A new environment? A new world for the value of
• 11:09
  silver and gold. I want to point out three
• 11:12
  critical things we need to consider when we think about
• 11:16
  what's going to happen to the value of the metals in the
• 11:19
  coming. We're going to say, 6 1/2
• 11:21
  months, OK, 6 1/2 months. No.
• 11:26
  See, this is serious business, right?
• 11:29
  Excuse me, Hold on one second. Have you considered, have you
• 11:40
  considered we have a 5% ten year bond yield that is bad, bad, bad
• 11:48
  for the price of gold. That's like jumping in a river
• 11:52
  and trying to swim against the current.
• 11:53
  The 10 year bond yield being that high and it's not been that
• 11:57
  high since what 2007 or something like that is a
• 12:00
  headwind is bad for the price of gold.
• 12:03
  The dollar is at near historically high levels, not a
• 12:07
  record high, but the dollar, the DXY, when you measure the dollar
• 12:13
  against a basket of other currencies, everybody will say
• 12:15
  that's what all the talking heads say, the dollar strong,
• 12:18
  the dollar strong, and that's a headwind for the price of silver
• 12:23
  and the price of gold. Third factor to consider Nobody
• 12:30
  cares. Look, we hate to admit it,
• 12:32
  right? But viewership of YouTube
• 12:35
  content surrounding silver and Gold is way down.
• 12:39
  I heard an author and we're I'll talk about this a little bit
• 12:42
  later. OK, Who writes about silver and
• 12:45
  gold? Talk about the number of people
• 12:46
  reading his articles is down. We've got three major factors
• 12:51
  pushing down putting downward pressure on the price of silver
• 12:56
  and gold. Why is that a good thing?
• 12:58
  I'm going to tell you it's a good thing, right?
• 13:01
  You've got high interest rates pushing down gold.
• 13:03
  You've got a strong dollar pushing down gold.
• 13:06
  You got the fact that nobody cares.
• 13:10
  We care, right? Right.
• 13:12
  We're the. We're out in front of the pack.
• 13:14
  I'm not. We're we're smart.
• 13:15
  It's a good thing we care. But the reality is nobody cares
• 13:18
  to get these three big factors pushing down the price.
• 13:22
  Let me give you an analogy. Let's say you were a sprinter
• 13:26
  and you run the 100 yard dash, OK?
• 13:30
  And you're practicing. You got the big meet coming up
• 13:32
  and you're out at the track and your coach is there and you run
• 13:35
  your 100 yard dash and you run a near record 100 yard dash.
• 13:40
  Congratulations. I always knew you were fast on
• 13:42
  your feet and your coach says, Oh my gosh, look, you've almost
• 13:46
  you're only 4% below a new record.
• 13:50
  But your coach then points out to you that there's a 20 mile
• 13:53
  per hour wind run in your face that you were running into.
• 13:58
  OK, now stay with me because this has everything to do with
• 14:02
  the price of silver and gold. So your coach says, look, Oh my
• 14:06
  gosh, you almost. You almost set a school record
• 14:11
  and in the 100 yard dash you were running directly into a 20
• 14:16
  mile per hour wind. That is exactly what silver and
• 14:20
  gold, OK, especially gold. And you know what happens with
• 14:23
  gold eventually will happen with silver.
• 14:25
  That's exactly what gold has done, right?
• 14:28
  Gold, Despite that 20 mile per hour headwind that it's running
• 14:34
  into, is darn near a all time record.
• 14:38
  It's already at an all time record, you know, measured in
• 14:41
  Japanese yen or Chinese Yuan, maybe even the euro, maybe the
• 14:46
  Canadian dollar, right? We're waiting for it in U.S.
• 14:49
  dollar terms. Think about that, guys.
• 14:51
  Think about that, right? It is.
• 14:53
  It ran a near record 100 yard dash over the last two years
• 14:57
  with those three big factors in its face.
• 15:00
  Let me ask you a question. What's going to happen if just
• 15:03
  one of those factors changes? What's going to happen if
• 15:06
  interest rates go down? Oh right.
• 15:09
  That would be very good for the price of gold and silver.
• 15:11
  What would happen if the value if the dollar retreated from its
• 15:16
  near historic high range that it's in right now?
• 15:19
  Let me show you something. I have AI have a fancy chart,
• 15:22
  don't you think? I put.
• 15:24
  I put some time into this baby and I even colored this one in
• 15:28
  for you. This, my friends, can you see
• 15:33
  that? Oh, here, hold on.
• 15:35
  You. Can you see that?
• 15:37
  This is a chart of the US dollar since 1985?
• 15:43
  OK, hold on here. I need to move this out of the
• 15:45
  way. Bear with me.
• 15:47
  Oh, shoot, hold on. We're having technical
• 15:51
  difficulties. Again, bear with me.
• 15:54
  At least we're not fuzzy today. There we go.
• 15:57
  OK, so this is a chart of the US dollar since 1985.
• 16:01
  That pink line is where we are now.
• 16:04
  Notice the small amount of time since 1985.
• 16:08
  And that's, what, 15? That's like almost 40 years,
• 16:12
  right? The dollar is high.
• 16:14
  The dollar is destined is destined to go to re to revert,
• 16:21
  to go down. All right.
• 16:22
  That's going to happen. That's one of the three things.
• 16:25
  Where did I put my notes? Oh, here we go.
• 16:28
  I'm back. Oh, buddy.
• 16:32
  Thank you Julie for the Super chat.
• 16:34
  Wow man. Super general super amount of
• 16:37
  generosity this morning. That's the good news guys.
• 16:40
  If gold has done a near record performance, which it is, all
• 16:45
  right, what was gold at 1975 on Friday?
• 16:49
  Right? In the face of these, of these
• 16:52
  factors that were pushing it down, just imagine where we
• 16:56
  could be heading. And that's why when we hear
• 16:58
  predictions for next year like $2700 gold, where the heck do
• 17:02
  you think silver is going to be at $2700 gold?
• 17:05
  Leave it. Leave it.
• 17:06
  Let me ask you a question. I mean, I want to see AI.
• 17:09
  Want to see a show of hands? Where do you guys think the
• 17:12
  price of silver will be if we get 20?
• 17:15
  I talk about 2600. We're going to go with 2700.
• 17:18
  And I'm going to explain to you why in a little bit.
• 17:22
  Where do you think we're going to see the price of silver when
• 17:25
  we get to $2700 gold? Come on, I'll read the 1st 10
• 17:28
  predictions. All right.
• 17:31
  I'm waiting 35 bucks from Coda. Good to see you, my friend.
• 17:34
  All right, awesome. Hello, Craig Edmonds.
• 17:37
  He doesn't know $50. A 150 from Shannon Keff says 50.
• 17:44
  Sassy Silver 150. Coin Shop Chris 9999.
• 17:49
  What Tony Erickson 37. Awaken Silver 150.
• 17:53
  Patriot Paul 85 All right, thank you.
• 17:57
  Jim M Yes please type the tap The thumbs up.
• 17:59
  Marcos says 80. Rick Karetz says 32.
• 18:04
  Carl Blackwood 250. Snakebite 75.
• 18:07
  Brandon, 40, Peter, 42, Peter Davila, 42, and Tommy Stevens
• 18:14
  says, I hope silver drops even more.
• 18:17
  He wants to buy 100 ounce bar. You know what?
• 18:19
  You need to watch a video, Tommy, that we're going to have
• 18:23
  out this afternoon. I did with Coin Shop Chris where
• 18:25
  he showed an over $350.00 price difference on 100 ounce silver
• 18:31
  bars at the major online bullion dealers.
• 18:34
  Yes, a $350.00 price difference. And you know what that means for
• 18:38
  you? That means with that $350.00
• 18:41
  plus that you save, huh. You can buy yourself A10 oz bar
• 18:46
  and three South African Kruger ants.
• 18:48
  So check that one out. All right, guys, let's move on
• 18:51
  here. Let's move on here and talk
• 18:54
  briefly about the mining stocks. Some of you like the mining
• 18:58
  stocks. There's unbelievable value right
• 19:00
  now in the mining stocks. Yes, First, mining gold is my
• 19:04
  sponsor right? If you want to buy gold in the
• 19:07
  ground in Canada for less than $10 per oz you need to check
• 19:12
  them out. Keith Neumeyer started this
• 19:14
  company back in 2015, 2016, and they cherry picked a lot of the
• 19:19
  best projects available in Canada.
• 19:23
  Gold in the ground. They have over 13 million oz.
• 19:26
  Total gold in the ground in Canada.
• 19:29
  A safe jurisdiction. You can talk to a guy there
• 19:32
  named Paul Morris. He's their Director of Investor
• 19:35
  relations. Send him an e-mail.
• 19:37
  His e-mail address is in the description of this video.
• 19:40
  You can tell him you just say hello even and tell him you
• 19:43
  heard about the company through Ron's basement.
• 19:45
  OK. Thank you.
• 19:47
  Now let's move on to why this author is talking about 2700.
• 19:54
  I got a we're going to we're going to dig in.
• 19:56
  I parsed through this and got the highlights.
• 20:00
  Avi Gilbert wrote an article and he's a he's a well respected
• 20:04
  author in the silver gold community, publishes a lot on
• 20:08
  Seeking Alpha. That's that subscription service
• 20:11
  that you have to pay to read. But he wrote an article and it's
• 20:14
  on Kitco, and the title is No one cares about Gold and Silver.
• 20:20
  But you Yes, you should. All right.
• 20:24
  Now he basically basically goes through a process of of talking
• 20:29
  about how people say gold is and silver are are safe havens and
• 20:34
  gold and silver do well with inflation and and the gold and
• 20:39
  silver can't do well because of the dollar.
• 20:42
  All right, let's see what he says.
• 20:43
  Let's start with the safe haven fallacy, he says.
• 20:46
  The last time we saw the occurrence of a major
• 20:48
  geopolitical event was when Russia invaded Ukraine.
• 20:52
  Yet gold was already in rally mode before that occurred.
• 20:57
  Remember that? Well, it's almost two years ago
• 21:00
  now and was not too far from a top we were expecting at the
• 21:04
  time. So even though gold and silver
• 21:07
  did spike higher after that invasion, within two weeks
• 21:11
  thereafter it was lower than where it was before the
• 21:14
  invasion. OK, so he's pointing out the
• 21:17
  fact that yes, sure, gold and silver can spike when there's
• 21:21
  major geopolitical turmoil and people are moving to safe haven
• 21:25
  assets. But what he says is basically in
• 21:28
  the long run, that doesn't do a lot for the long term price of
• 21:32
  the metals. And we've talked about that.
• 21:34
  We said, you know, we don't want to have a high silver price or
• 21:37
  gold price on the back of pain and suffering of other people
• 21:41
  around the world. But really in the long run, you
• 21:45
  know, I know I'll just tell you this right now, okay, and this
• 21:48
  is not what he says, but I don't know how you feel about this.
• 21:51
  But does it make sense that what really is going to affect the
• 21:55
  price of silver and gold is just the utter destruction, slow
• 22:00
  motion, destruction of the value of the dollar?
• 22:04
  For those of you who live in the United States and and and
• 22:07
  measure, quote UN quote, which we shouldn't do, but we do
• 22:11
  anyway, measure the price of gold in U.S. dollars.
• 22:16
  In the long run, there's nothing the deteriorate.
• 22:20
  What's that? Let me say.
• 22:21
  Something to the viewer. You want me to hold on, Susie.
• 22:27
  I've made the mistake of putting new batteries in her.
• 22:29
  Do you want me to say something to the viewers I'm at?
• 22:33
  The Rocky talkie, so I can say some.
• 22:35
  OK, go ahead. Thank you everyone for giving
• 22:40
  one thumbs up. Now, one call.
• 22:44
  Dog time. OK.
• 22:46
  OK. Thank you.
• 22:47
  I love you. I tell you.
• 22:49
  You too. I got the best wife in the
• 22:52
  world, if you're as lucky as me. You know we're not perfect, but
• 22:55
  I got the best wife in the world.
• 22:56
  I got to ring the cowbell. I'll be right back.
• 23:07
  We ring the cowbell when we get the 200 thumbs up.
• 23:11
  That's Iran's basement tradition.
• 23:13
  So this guy's saying that gold and silver, the real long term
• 23:17
  price, is not dependent on the safe haven component outlet's
• 23:23
  think about something else though.
• 23:25
  All right, let's think about I, I, I'm going to take, I'm going
• 23:27
  to, I'm going to take up a little argument with him.
• 23:30
  What about the fact that with the bifurcation that's going on
• 23:33
  in the world right now, the geopolitical strife like we
• 23:37
  haven't seen in our lifetimes and I'm 53 years old?
• 23:40
  What about the fact that we got half of the world that doesn't
• 23:45
  want to be in the dollar, the traditional safe haven asset,
• 23:49
  the dollar and U.S. Treasuries?
• 23:52
  Do you think China wants to buy dollars when they're scared and
• 23:55
  worried? Do you think Russia wants to
• 23:57
  hold dollars? You know, they already had
• 23:59
  theirs confiscated. Do you think Brazil, do you
• 24:01
  think the Saudi Arabians, who are on somewhat thin ice?
• 24:05
  Thank you, Tony, for the Super chat.
• 24:06
  No. So I would say that the safe
• 24:08
  haven, I will partially not agree with this man and let me
• 24:12
  know your thoughts on this as well.
• 24:15
  But I think that the safe haven status of gold is actually
• 24:19
  becoming more important, more attractive, especially
• 24:25
  especially to this growing segment of the world that
• 24:28
  doesn't wanna go put their money in dollars or treasuries when
• 24:33
  the turds hit the toilet there. That's as dirty as I'll get when
• 24:37
  things are bad, okay. But I do understand what he's
• 24:42
  saying too. And in the long run it's the
• 24:44
  dollar getting destroyed that are going to that are going to
• 24:51
  affect it. Now he talks about this big
• 24:52
  rally guys. Were you around in 2015?
• 24:55
  Sixteen in the metals market. It was horrible.
• 24:59
  And then we had to rip your face off rally, especially in the
• 25:03
  mining stocks especially even with the price of the metals.
• 25:07
  He points this out. Major rallies begun in the
• 25:10
  metals market have not been triggered by geopolitical
• 25:14
  events. Just ask yourself, just ask
• 25:17
  yourself if were there any geopolitical events which
• 25:22
  started the rally we saw in 2016.
• 25:25
  OK, brings up a good point. That rally took almost everyone
• 25:29
  by surprise. Yes, true.
• 25:32
  As most were extremely bearish of the metals at that time.
• 25:35
  Well, almost everyone because he was bullish at that time.
• 25:40
  Hey, thank you, Osman. Good morning from across the
• 25:43
  river, Illinois. Thank you for the Super chat.
• 25:45
  OK. Gosh, we're over 440 people.
• 25:49
  We're going to get to 500. I can feel it.
• 25:51
  It's a good day. It's a good day.
• 25:52
  So he kind of throws water now. Don't forget this guy has a very
• 25:55
  interesting prediction for the gold price, which I think could
• 25:59
  equate into, I'm going to say, $53 silver next year.
• 26:05
  Next, he talks about inflation. He says what astounded me even
• 26:08
  more because, you know, inflation is what really affects
• 26:11
  the price of silver and gold. And again, I would argue in the
• 26:14
  long run that's that's diluted to the US dollar, that makes the
• 26:18
  value of the dollar go down. In the long run it does.
• 26:21
  But he brings up this point that he well, that what astounded me
• 26:24
  even more was an article reasoning that we should wait
• 26:28
  for inflation to dissipate before gold will rally.
• 26:32
  Yeah, the screwed, upside down world we're in.
• 26:35
  It seems that there are people that are surmising that since
• 26:38
  gold did not rally due to inflation, right, Because gold
• 26:42
  really didn't rally during that massive inflationary period we
• 26:45
  had, then it must mean that it will rally when inflation
• 26:48
  subsides. And yes, I shook my head.
• 26:52
  So he's making this article that you hear.
• 26:55
  He says this. So what conclusion should you
• 26:58
  derive from any arguments focused upon inflation or
• 27:01
  deflation? You should ignore them, because
• 27:04
  anyone that relies upon those drivers has no clue about how
• 27:08
  metals work, nor had they bothered to review the lessons
• 27:12
  of history. Again, I would partially take
• 27:17
  issue with what he's saying. I think inflation in the long
• 27:21
  run does absolutely impact the price.
• 27:24
  You're going to tell me my friend that if we had two years
• 27:29
  of 80% inflation, right, the dollar was then worth a third,
• 27:33
  two years later of what it was, that would be hyper ish
• 27:36
  inflation. That that's not going to have an
• 27:38
  impact on the price of silver and gold.
• 27:40
  I think it would. What about stagflation?
• 27:43
  You don't talk about that. We've talked about it.
• 27:45
  What do you think stagflation does for the price of silver?
• 27:48
  And good. We'll look no further back to
• 27:51
  the 1970s and when we had stagflation in this country, we
• 27:55
  had rocket fuel, rocket fuel for the price of silver and gold.
• 28:01
  Many people, including some of us here in the basement, think
• 28:04
  that we're likely heading into another stagflationary
• 28:08
  environment right now. Right?
• 28:11
  The economy is slowing. We know the reality.
• 28:14
  Not the BS, not the Bureau of Labor and Statistics reality,
• 28:18
  but the reality of what the trucking companies are telling
• 28:21
  us. The reality of what the
• 28:22
  railroads are telling us. The reality.
• 28:25
  The real, real numbers. Not the make, believe Unicorn
• 28:29
  fart dust numbers that come from the BLS, the Bureau of Lies and
• 28:33
  Statistics. No, the Shadow stats numbers, do
• 28:37
  you know that website? That's where they track
• 28:39
  inflation like the real numbers and guys, if we've got a slowing
• 28:43
  economy and a real inflation problem, we do have stagflation
• 28:47
  and that is good for the price and the dollar, he says.
• 28:51
  Lastly, I've seen many arguments that claim that gold does not
• 28:55
  rally when the dollar is strong. And because the dollar is strong
• 28:59
  right now, then gold will not rally.
• 29:02
  There are two main issues with this argument.
• 29:06
  Basically, he says he wants to point to the fact that right now
• 29:10
  the DXY, the dollar index. I think I showed you that chart
• 29:14
  earlier, right? The DXY is just below a 20 year
• 29:18
  high and so is gold. So gold can rally when the
• 29:24
  dollar goes up in value. Now let's review quickly.
• 29:28
  Basement dwellers, seller dwellers, Let's review quickly.
• 29:32
  When they say strong dollar again, that's like comparing the
• 29:37
  worst three cars in the worst used car lot in whatever city
• 29:43
  you live in. Imagine going into a used car
• 29:45
  lot and you're looking and and there's three cars there.
• 29:49
  One's called the the Euro, one's called the Yeni, and one's
• 29:53
  called the Dolly, the Dollar. OK, but they're horrible cars
• 29:57
  with 350,000 miles on them. And sure, they get painted up
• 30:03
  and they took some dents out and they look nice, but the reality
• 30:06
  is they're. But the dollar is the best one
• 30:08
  of the three. OK, Across the street, OK,
• 30:13
  across the street there's a Honda dealer, right?
• 30:15
  With some nice shiny new cars right out in front.
• 30:19
  You know what they are? There's a gold colored, a gold
• 30:24
  colored Honda Accord in a silver Honda Accord, brand new with no
• 30:30
  miles, right? The most reliable cars on the
• 30:32
  road, you want to go to the Honda dealer and that's what got
• 30:35
  people like you and I choose to do.
• 30:37
  So you know, the dollar, blah blah, blah.
• 30:39
  I'll agree with them on that. Yes, the dollar can actually,
• 30:43
  but don't forget when the dollar reverses, and it will and it
• 30:48
  will, that will be another. So big, big, big supportive
• 30:53
  element for the silver pricing, gold price.
• 30:55
  Now we got a little story from him, so let's hear what he has
• 30:58
  to say is as an anecdotal side point I have, I have to note
• 31:03
  that the recent metals articles that I've written on Seeking
• 31:07
  Alpha have been quite poorly read.
• 31:11
  My articles on the stock market will exceed 10,000 reads every
• 31:15
  single week. Interestingly, when I used to
• 31:18
  write about the metals years ago, those articles would easily
• 31:22
  exceed 10,000 readers okay every single week.
• 31:27
  Yet my current articles see half, if not even less, people
• 31:32
  aren't interested in silver and gold.
• 31:35
  We talked about this earlier. Okay.
• 31:37
  That's actually a good thing that gives so much room for when
• 31:40
  the, you know, when the when the reality of the fact that silver
• 31:44
  and gold aren't valuable, when people do begin to wake up more,
• 31:48
  there's going to be. So it's a it's it's there's only
• 31:52
  5000 people reading his articles.
• 31:54
  There used to be 10,000 people. OK, just think about this.
• 31:58
  If it goes back to 10,000 people, that would likely
• 32:01
  represent twice as much money in the market and then already in
• 32:07
  an already challenging market. I was talking with Coin Shop
• 32:11
  Chris this morning. He's telling me 10 ounce bars
• 32:14
  are becoming more difficult. I'm not going to say there's an
• 32:16
  all out shortage, but there's signs of stress in the silver
• 32:20
  market, right? There's signs.
• 32:22
  It's not like it's a very delicate, sensitive market.
• 32:27
  Did it take all that much back in March and April to make it
• 32:31
  that, you know, you hear it all the time you walked into your
• 32:34
  local coin shop and they didn't have anything on the shelves,
• 32:38
  right? Just think about, think about, I
• 32:40
  know man, sometimes we feel lonely because there's there's
• 32:44
  there's not that many people, especially in the United States,
• 32:47
  that are silver and gold enthusiasts.
• 32:49
  But at the end of the day, that's actually a good thing.
• 32:52
  OK. So it's current or this is this
• 32:55
  is where it gets interesting. This is where we're going to
• 32:57
  talk about $2700 gold and I'm going to say $53 silver next
• 33:02
  year, OK. My current article see half of
• 33:06
  the reading if not less the reads of those, the reads of
• 33:09
  those garnered by my general markets, OK.
• 33:12
  I think this presents us with an anecdotal evidence that there is
• 33:16
  not much interest in the metals market.
• 33:19
  Yes, and it supports our expectations of a bottoming in
• 33:25
  the market price and our expectation that a major rally
• 33:30
  will take hold into 2024. OK, now, now remember, this is
• 33:41
  the guy that called the bottom back in 2015, 2016 when nobody
• 33:46
  cared. It's really weird right now
• 33:48
  because we are near record high in the gold price in particular.
• 33:53
  Wow. Thank you, Dana.
• 33:55
  Thank you for the Super chat. Super appreciated.
• 33:58
  We're sitting near record high. Guys, wake up.
• 34:01
  Wake up. I know we get lulled to sleep.
• 34:06
  It's wakey time. Wakey, wakey.
• 34:09
  OK. We are near an all time high in
• 34:12
  gold and we're fighting and that and that that was achieved in
• 34:19
  major headwinds, right running into the wind.
• 34:23
  It's not going to take. I don't think central banks are
• 34:26
  going to stop buying gold. I don't think the Chinese are
• 34:28
  going to stop buying gold. I don't think the Russians are
• 34:31
  going to stop, stop, stop bop, bop.
• 34:33
  I can't talk. Stop, Bop.
• 34:35
  Bop. Bop, Bop.
• 34:36
  Stop buying gold. Let's see what he has to say.
• 34:42
  So allow me to reiterate my expectations in the metals
• 34:45
  market. Here comes the forecast.
• 34:47
  Thank you, Daniel. You're the best, my friend.
• 34:49
  And everybody, please say thank you to all the moderators that
• 34:52
  are here today. We're almost to 500 people,
• 34:54
  almost to 300 thumbs up. I forget what I have to do when
• 34:57
  we get to 300 thumbs up. Somebody needs to remind me.
• 35:02
  All right, I'm going to stay on track.
• 35:06
  Now what? How am I supposed to understand
• 35:08
  what you just said? Hold the walkie-talkie.
• 35:10
  Oh, hold on. I didn't copy what you said.
• 35:14
  Hold the walkie-talkie approximately 9 1/2 inches from
• 35:17
  your face. Please do.
• 35:20
  Not hit the nose, The bell with your nose.
• 35:23
  OK, I'm going to turn off my walkie-talkie now.
• 35:25
  I love you. Goodbye.
• 35:30
  That's right. I forgot I hit the the bell with
• 35:32
  my nose. Must stay on track.
• 35:35
  We're going to get to 300 thumbs up.
• 35:36
  We're going to get to 500 people on this live stream.
• 35:39
  So stay with me because here comes the good news, baby, Come
• 35:43
  on, let's get some thumbs up. It's good for our soul.
• 35:45
  It feels good to do that to press the thumbs up.
• 35:48
  It feels good to do nice things forecast.
• 35:52
  So allow me to reiterate my expectations in the metals
• 35:56
  market. I believe we will see a very
• 36:00
  strong rally in the gold and silver markets as we move into
• 36:05
  2024 and my minimum target for the next gold rally is $2428.00
• 36:18
  region. But, and we like big butts, we
• 36:23
  cannot lie. But we often see very strong
• 36:28
  extensions during the precious metals rallies.
• 36:32
  So depending on the size of those extensions, we may even
• 36:38
  see a high as high as $2700 region before the before the
• 36:46
  next multi year correction begins.
• 36:50
  Wow, that's a big deal. Hey, we got three of the thumbs
• 36:54
  up. Hold on, let's talk to Susie.
• 36:55
  Everybody say hi to Susie. Susie, I can't understand what
• 36:58
  you say when you don't. When you hold it up to your
• 37:01
  mouth. You got a copy Copy.
• 37:07
  But what did you say I want? To thank everyone for getting on
• 37:11
  to 300. Thank you so very, very much.
• 37:17
  All right. She's such a sweetheart.
• 37:19
  All right, guys, it's time for the bell.
• 37:21
  Hold on one second. I'm going to hold it right here.
• 37:29
  Right here. Are you ready?
• 37:34
  Woo wee 300. Thumbs up.
• 37:36
  Thank you very much. You guys are the best.
• 37:38
  I can't believe it. Wow.
• 37:40
  We have 470 people. I want to get to 500.
• 37:43
  What are we going to talk about? Well, this guy is talking.
• 37:47
  Let's wrap it up. His name is Avi Gilbert and he
• 37:51
  writes on Seeking Alpha. He's telling us we could get as
• 37:54
  high as $2700 gold next year. I'm saying that equates exactly
• 37:58
  to $53 gold, but it could be higher.
• 38:01
  OK. No doubt about it.
• 38:03
  It's going to be interesting to see how this all plays out.
• 38:08
  Of course, guys, you know, let's do a quick update.
• 38:13
  And I, and I'm not a guru in this area.
• 38:15
  Thank you. Tony Erickson, it doesn't look
• 38:19
  like and I'm hearing, I don't know how you feel about this,
• 38:22
  but the situation in the Middle East does not seem to be getting
• 38:25
  any better. I've not read the news headlines
• 38:28
  this morning, but as of last night, it appeared to be
• 38:31
  escalating between the United States sending troops or not
• 38:35
  troop ships over there providing weapons.
• 38:39
  And it seems like there's like a coalition building of some
• 38:43
  countries in that region led by Iran.
• 38:46
  We really want to hope that this situation doesn't get any work
• 38:51
  worse. Excuse me.
• 39:02
  You know, and and and we talked about this before.
• 39:06
  We talked about this months ago, you know that the situation is
• 39:11
  developing in the world right now on many levels.
• 39:15
  Things are happening on a much larger scale and they're
• 39:18
  happening much more quickly. Lynette Zhang and I talked about
• 39:22
  that when I talked, talked with her a few months ago.
• 39:25
  Be prepared, be buckled in. I'm going to wrap this up before
• 39:29
  I die on the screen, but I should be back tomorrow.
• 39:34
  Don't forget, I'll put out a new piece of content I promised
• 39:37
  every day for the rest of my life.
• 39:39
  Right. Come, hacker High Water.
• 39:41
  I will be here, 'cause you're important.
• 39:43
  All you people are important. Thank you, Mark Bernard for
• 39:46
  being here. Tony Erickson.
• 39:47
  Thank you for the Super Chad. Jim M.
• 39:50
  Thank you, Susie. Thank you, guys.
• 39:53
  Do me a favor, Please. Type 4 to tell the moderators.
• 39:57
  Thank you. We got sassy silver in here.
• 40:00
  We had believe Mary. We had.
• 40:03
  Who else? Annie.
• 40:04
  Thank you. Jim M Jake's custom parts.
• 40:07
  Thank you, Jake. OK.
• 40:10
  Thanks for being such an awesome community, guys.
• 40:12
  It's a big deal, All right. Please, I encourage you
• 40:15
  subscribe to the channel and then you can leave comments.
• 40:18
  There's a lot of nice people. I may be getting an actual
• 40:24
  website be it's it's it's in process being made where we're
• 40:29
  going to have a Ron's basement bullet like like bulletin board
• 40:34
  or what do they call that like a place where people can go
• 40:37
  anytime 24 hours a day and and and like chat with each other
• 40:42
  live like a bullet. I think they well, I'm an old
• 40:44
  man. I feel strange, but like a
• 40:46
  bulletin board or a chat room or you know, like this, but it'll
• 40:51
  be there 24 hours a day and available for people because I
• 40:55
  know you guys like to talk with each other.
• 40:57
  I love to hear what's going on as well.
• 40:59
  I don't know how long that'll take.
• 41:00
  It could be a week, it could be a year from now.
• 41:03
  But I'll keep you posted if you have any ideas.
• 41:06
  I was thinking of ways to call like basement banter or or
• 41:11
  something like that. A good catchy name for what that
• 41:14
  what we could call that bulletin board were people that that like
• 41:17
  to talk about silver and gold, right.
• 41:18
  And talk. We'll talk about the things we
• 41:20
  like to talk about, could go anytime and kind of, you know,
• 41:24
  chat back and forth. Just an idea.
• 41:26
  Hey, thank you for being here. Thanks for everything.
• 41:29
  And I will see you. Yes.
• 41:32
  Hold on. Did you need something,
• 41:36
  sweetheart? I guess not.
• 41:43
  I'll see you soon. Thank you.