Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **ALERT** SILVER To See HUGE Change.... (COMEX Precious Metals Price Manipulation)

Transcript

**ALERT** SILVER To See HUGE Change.... (COMEX Precious Metals Price Manipulation) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
We have a big update on the silver market.
0:03
On the gold market, nothing gets under the skin of precious
0:08
metals. Investors like the concept of
0:10
price manipulation. Those dirty dogs down at the
0:14
Comex that consistently HAMP down the price of silver in
0:19
particular, although we know, based on recent legal decisions
0:24
that it happened with gold as well.
0:26
But I'm gonna tell you about some good news when it comes to
0:29
price manipulation. This was shared by Rick Rule in
0:33
a recent interview that he did. We're gonna cover that.
0:36
But what else really affects the price of silver and gold?
0:40
The Fed, the economy. And what are we learning about
0:44
the economy right now that should be setting off alarm
0:48
bells? Did you see yesterday?
0:51
Did you go to Walmart yesterday? You're our favorite store in the
0:56
world. Walmart.
0:57
Well, if you went to Walmart yesterday, you may have noticed
1:00
a few fewer people in the store because their CEO, their CFO
1:06
held their earnings call yesterday and sent Spooks, sent
1:11
fear through the market. They are concerned about the
1:15
health of the consumer. And guys, this is Walmart,
1:19
right, the world's biggest retailer or the world's biggest
1:23
brick and mortar retailer. They are getting very concerned
1:27
and what does that tell us about the economy?
1:29
Because Walmart is the bellwether, right?
1:32
A lot of people, middle class people, those of middle class
1:35
people that are left like the shop at Walmart.
1:37
And a lot of upper middle class people have been trading down to
1:42
Walmart to buy their essentials, to buy their groceries because
1:46
the high end stores became a little too expensive.
1:50
And the Walmart CEO is telling us they are concerned about the
1:54
health of the consumer. The consumer is the backbone of
1:58
the United States economy. OK, we're getting warning signs
2:04
coming at us right now, Target, the CEO of Target, said in a
2:08
recent earnings call. People aren't people are waiting
2:11
to the last minute to buy their essentials.
2:15
Are you doing it? Apparently right.
2:17
People are waiting to buy the new coat or sweatshirt until it
2:21
gets so cold that they absolutely need it.
2:24
People are putting off buying their essentials, but what else?
2:27
And what this? Let's tie this back to the
2:29
silver price and gold price when this economy is recognized as
2:35
slowing down, when we start to hear the R word.
2:39
Now we're brave. We'll talk about the D word.
2:43
Right Basement dwellers. My fellow basement dwellers in
2:46
the I tell you what in the chat guys type for me what the D word
2:51
is. I'm just curious if if people
2:53
are paying attention, but the R word will cause the Fed to pivot
2:57
and will cause money printing, QE, whatever they want to call
3:01
it. But it will cause the value of
3:04
the dollar to go down, interest rates to go down, and the value,
3:08
the price measured in Unicorn fart dust Fiat dollars, will
3:12
cause the price of silver and gold to go much, much higher.
3:17
They're even talking about disinflation and deflation in
3:21
certain areas. That's not the D word.
3:23
Depression. That's right.
3:24
You got it, Jake. Got it.
3:26
Yeah. Hey, you know, like I've said,
3:28
nobody wants to talk about a depression.
3:30
You never hear that word mentioned.
3:32
And isn't it funny how a lot of times the things that do happen
3:35
or the things that nobody talks about, we'll talk about it.
3:38
I think it's a much more likely scenario than most people are
3:43
recognizing. Are you prepared?
3:46
Are you prepared Monetarily? Are you prepared emotionally for
3:50
the fact that we could have a depression?
3:52
It could happen, right? It happened about 100 years ago,
3:54
and from what I understand, these things happen a lot of
3:57
times in around 100 year cycles. But what's wrong with prices
4:02
going down? Did you see yesterday?
4:04
I watched about 3 1/2 minutes of CNBC yesterday and I happened to
4:08
hear them mentioning disinflation.
4:12
It's like, oh, it's horrible. It's horrible.
4:14
What's so bad about prices going down?
4:16
Remember back in the day, I'm at my friend Ricky's basement right
4:20
now, right? This house was built in 1905,
4:24
OK? That's when the United States
4:26
was on the gold standard. So the guys that put these beams
4:29
up in this beautiful historic home, right, they were working
4:34
under a system that was backed by silver and gold.
4:37
It was not uncommon for prices to go down during those periods
4:42
because as people became more efficient as technology
4:45
advanced, it allowed prices to drop.
4:47
What's so bad about disinflation or deflation now?
4:50
Well, the problem is the magic Unicorn monetary make believe
4:55
system that the Fed has put in place doesn't work without
4:59
devaluing your dollars. All right, I got off track.
5:02
Let's talk about a couple other big scary signs that we got this
5:06
week regarding the economy. Jobless claims.
5:10
Right. The pillar guys, we've talked
5:12
about this right. That's what.
5:14
That's what all the pundits are saying.
5:16
Oh, the economy strong because employment so great.
5:19
Well, employment, jobless claims spiked higher.
5:22
I'm even hearing the mainstream media guys now are saying this
5:26
could be a new trend. You got it.
5:29
It's gonna be a trend. What do you think?
5:31
Do you think six months from now, people, that unemployment
5:35
is gonna be higher? Tell me if you do type U in the
5:39
comments, the letter UI can't type because I'm in a remote
5:42
location and it's hard for me to see the comments.
5:46
But I think unemployment is going to continue and I heard
5:49
one of the top analysts yesterday say he thinks it's
5:52
even going to spike. Like it's not going to be just a
5:54
little trend but it's going to immediately spike higher.
5:58
The other thing going on, that's a good sign for us that the
6:02
economy is slowing as oil prices are dropping.
6:06
Crude oils like in the 70 ish range $74 last time I looked per
6:11
barrel guys and it's because demand for oil is down and we
6:16
know right? the Fed don't forget guys, don't
6:18
wait wait, wait basement dwellers.
6:20
We listen to whatever the government tells us and the
6:22
government told us that in the third quarter the GDP went up by
6:28
almost 5%. Everything is great in bi
6:31
dynamics, but this data isn't it kind of telling us something
6:35
different? And we know the Fed is going to
6:37
have to pivot. We know that's going to be
6:40
Rocket Fuel, a big catalyst for the price of silver and gold.
6:45
We know that UBS, the giant Swiss bank, just earlier this
6:49
week predicted that the Fed will have to cut rates by 2 3/4% next
6:55
year if that happens. That's the most aggressive
6:59
forecast that I've seen. We're gonna get the 2600, we're
7:03
gonna get $3000 gold. We're gonna get $4050 range and
7:07
silver. It's gonna be a lot of fun.
7:09
And I'm gonna be here for you through it all.
7:11
The final piece of evidence that we've talked about ad nauseam.
7:15
I'll be quick. Trucking volumes down by 10%,
7:18
rail volumes down by 10%, air freight volumes down.
7:22
FedEx telling their pilots that that that fly freight all around
7:27
the country. Why don't you go work for
7:29
American Airlines because we can't keep you real busy, right?
7:33
What about intermodal shipping, the big shipping containers?
7:36
I am no one executive in that business.
7:38
He told me it is incredibly slow right now.
7:42
He said that all of his clients have a abundance and oversupply
7:48
of inventory. This economy is slowing in the
7:52
employment. The last leg of the stool that
7:54
was holding everything up again. We got news this week.
7:57
Initial jobless claims are up and that's the official data.
8:01
So be prepared. Be prepared to hear about
8:04
recession, Be prepared to hear about depression.
8:07
We'll see how it all plays out. Hey, thank you for joining me.
8:10
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8:14
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selection. All right, guys, let's move on
8:47
and talk about silver. We're gonna zoom in on silver
8:51
for a second here. I wanna get my notes.
8:53
Bear with me. Bear with me.
8:54
We're having a little. These are some notes from a talk
8:59
I was listening to Rick Rule. Yes, that Rick Rule.
9:03
And let's just run through some interesting things about silver.
9:05
The silver price and silver stocks could double or triple
9:10
before anybody even cares, right?
9:12
Nobody is paying attention to silver and gold.
9:15
They are hated right now. OK, and Rick said this and I
9:19
thought it was brilliant, but silver going from being hated to
9:24
unhated. We're not saying it needs to be
9:26
loved, but from going from hated to unhated, OK is the easiest
9:31
money that we can make. It just needs to be less hated.
9:35
Now look, we don't hate silver. We love silver.
9:39
But the reality is 99% of the other people out there either
9:42
don't care or think it's a dumb investment.
9:46
We'll see who gets the last laugh on that one, right?
9:49
OK, silver always moves after gold.
9:53
Now think about this. We've seen strong gold prices in
9:57
the last what month or so. At this point, silver has yet to
10:01
react, but silver always has a little bit of a delayed reaction
10:06
to gold. And if gold gets up to what I
10:09
think we could see in 2024, right, 2600, even possibly 3000,
10:14
nobody's talking about $3000 gold.
10:16
Do you think we can hit $3000 gold?
10:19
If you do type 3000 in the chat, we'll see how many, how many
10:24
believers. If I could type, I would,
10:27
because I think we have a 23.4% chance according to my according
10:32
to my AI algorithm, we have a 23.4% chance that we're going to
10:36
get to $3000 gold. We'll see how that all plays
10:39
out. OK, OK, he says Again, the big
10:43
money is when the medals are simply less hated.
10:47
OK, interesting point. You probably know this, right?
10:50
You're a silver guru. You probably know this 20% of
10:54
silver comes from pure silver mines.
10:56
The rest of silver comes as a byproduct, copper mining, zinc
10:59
mining, lead mining. OK.
11:03
And and and and that makes the supply side of silver very
11:08
inelastic. You want to learn a fancy
11:11
economics term, right? Us dwellers, we're always
11:14
wanting to learn a little something fancy to say.
11:17
The supply of silver really is inelastic, meaning they can't
11:21
just respond immediately to changes in the market.
11:24
That's why when we do get this big move up to $4050 silver,
11:30
they can't just turn a knob and turn on silver production.
11:33
OK, demand is in a deficit. Rick Rule brought it up.
11:38
Everybody knows it in a deficit right now.
11:41
OK. The miners are producing less
11:43
silver than is being demanded every day.
11:46
That difference that that that extra amount of silver is coming
11:50
out of above ground stockpiles. But last year alone it was what,
11:54
237,000,000 ounces of silver short, excuse me, shortfall, OK,
12:01
that's significant. There's not that much silver
12:04
above ground. And the price of silver is
12:07
really, it's hard to base it on supply and demand dynamics
12:11
because of what Rick talked about.
12:13
We don't have really, you know it.
12:16
It's murky. It's not like a lot of other
12:18
markets. The supply side, there's
12:20
manipulation that goes on. OK, there's manipulation.
12:24
Let's talk about price manipulation at the COMEX.
12:27
And I do agree with what Mr. Rule right And he's like the
12:32
Crown Prince of of precious metals.
12:35
Hold on a second. Uh oh, you're going to hear me
12:37
slurp? Sorry about that.
12:44
People complain about hearing the slurping, but I had to take
12:46
a drink of water and I can't mute this microphone.
12:48
I'm in Ricky's basement my my best friend since the 3rd grade.
12:53
I remember when he showed up at Saint Sabina grade school, they
12:55
said this is Rick. I had no idea he'd wind up being
12:58
my one of my best friend. Like 40 years we've been
13:00
friends. Anyway.
13:02
Anyway, is silver manipulated? Thank you Ron for the Super
13:05
chat. Awesome.
13:07
And we almost got 100 thumbs up and I forgot a bell.
13:10
Darn it. Anyway, I'll ring my head for
13:13
you. Look guys, Silver is
13:15
manipulated. Rick Rule even said he pointed
13:17
out something crazy interesting. This is the good news of this
13:23
video. This is what could be game
13:27
changing information for you. This is something that you can
13:32
get excited about. OK, I want you to get excited.
13:37
The hair on the back of your neck is gonna stand up.
13:39
It's time for us to make some feathers fly.
13:43
That's the only way I can say it, because Rick Rule said yes,
13:47
definitely silver's manipulated. He pointed out the fact that,
13:51
like on the Comex there's 200 paper Unicorn fart dust, right?
13:57
I don't have the Unicorn down here, but the Unicorn fart dust.
13:59
Hey, thank you. Snakebite contracts on silver
14:03
for each one ounce, right? 200 to one.
14:06
There's 200 people that have claims on each one ounce of good
14:11
for delivery silver at the Comex.
14:12
Even then extrapolated that to over the course of a month, it's
14:15
like 6000. On the short term, absolutely
14:20
the price of silver is manipulated.
14:23
Most all markets are manipulated to 1° or another.
14:27
But then he pointed out something that should shine.
14:31
Envision a bright light like these light bulbs behind me.
14:36
But a bright light, Whoa, shining.
14:40
Because think about this. The manipulators, the guys that
14:43
that that trade are on the floor at these exchanges.
14:47
They they don't. They don't care if the price is
14:50
going up or down. What they care about is making
14:54
money now, OK, they are. They care about making money.
15:00
OK, now here's the key. This is the big key take away
15:04
here over the last 50 years, especially since Nixon took the
15:08
United States temporarily off the gold standard.
15:12
The reality was because of the strong dollar, because how
15:15
strong the US was, it was easier the path of least resistance for
15:21
manipulating the price of precious metals.
15:23
And it was proven in that big law, that big legal case that
15:25
just got settled in Chicago spoofing by JP Morgan.
15:29
The easiest way for them in a minute to manipulate the price
15:32
was down. But they don't care.
15:35
They don't care if it goes down or up.
15:38
And what what Rick said, if I heard this correctly and I agree
15:42
with 100%, is the landscape has changed The next five months,
15:48
the next five years, the next 50 years, it's going to be easier
15:52
to manipulate the price up. So that same manipulation that
15:57
caused us all so much heartache and pain over the last years and
16:01
decades could actually now flip and work to your advantage.
16:06
OK And I think that is something that I I had never thought of.
16:10
I don't know if you'd ever that had ever crossed your mind, but
16:12
I had never thought of that. We could be in a scenario where
16:16
yeah, sure. They can manipulate now all they
16:18
want manipulate to the upside because that's the that's the
16:21
new natural direction for the price of silver and gold for
16:29
that matter as well. All right.
16:31
Let's couple more interesting points about the The moves for
16:35
gold and silver in coming years should be up.
16:40
But right now, especially guys, let's talk about the stocks, the
16:44
gold mining stocks, the silver mining stocks, the gold
16:47
developers. Nobody cares.
16:49
Nobody. There's so much room for
16:50
improvement. Nobody cares.
16:52
And Rick Rule brought this up, he said.
16:54
That's the perfect time to be buying these stocks because
16:58
there's no competition. You're the only person bidding
17:01
to buy the stocks. OK, I tell you what, I'm just
17:04
curious how many of you guys actually.
17:08
I know we own physical, but do you own stocks as well?
17:11
If you do, type S the letter S and I can't do it, I apologize
17:15
because I'm in the Rick's basement, not Ron's basement.
17:18
I don't have my computer with me, but I'd be curious how many
17:21
of you guys actually own stocks as well.
17:23
Thank you for all the thumbs up. We got 100 thumbs up.
17:26
We got 250 people here with me in Rick's basement.
17:30
Wow. Rick's gonna be excited.
17:32
He didn't think that many people could fit down here.
17:34
Thank you for being here. OK.
17:39
Can silver go lower? Can silver go lower?
17:42
That subject was breached. And from what I understand,
17:45
yeah, sure, silver can go lower. But think about it, guys.
17:49
We already have a situation where there's this much supply
17:52
of silver, but this much demand, OK, if the price goes down,
17:57
guess what? They're going to shut silver
17:58
mines down. The supply will go even lower,
18:02
which will make the and the demand's not going any lower.
18:05
Let me get that shadow off my face.
18:07
The price goes lower, OK? The shutdown mines that will
18:12
create an even more massive differentiation between the
18:17
between supply and demand and will make the price go up.
18:20
We want to welcome Sassy Silver, a new moderator to the channel
18:24
and she's been a great supporter of the channel and everyone
18:27
who's here, right. We always wanna be nice.
18:30
We always wanna be constructive. You do not have to agree with me
18:33
in the comments. Okay, I'm first to admit, and
18:36
Susie will be 1.5 or a second to admit that I'm often wrong about
18:41
a lot of things, and that's how we can learn is from each other.
18:45
But a special warm welcome to our friend Sassy Silver.
18:48
We've got Jim M, We have Jake from Jake's custom parts.
18:53
We have Annie Oakley. We have Susie.
18:54
And there's one more guy who always shows up here.
18:57
I keep forgetting his name. Yeah, Coin Shop.
19:00
Chris type if you wanna do something nice.
19:04
Any of these questions I But if you wanna do something nice and
19:07
you're out there watching Pipe 9 for the moderators to tell them
19:10
thank you because they do make all this happen.
19:13
Let's get back to the Silver cuz we got a lot more to talk about.
19:16
OK, Silver. Yeah, it can go, it can go
19:19
lower, but it's not. And I heard this last night and
19:21
I heard this yesterday as well. I don't agree.
19:25
I don't agree. I do not agree with this popular
19:31
thesis and you may believe it as well.
19:33
Again, we don't have to agree, but I don't agree with you on
19:36
this. If you agree with this, that
19:38
silver and gold, if the market crashes, if the market goes down
19:43
30 percent, 40% that the price of silver and gold.
19:46
Thank you, Derek. Wow, thank you for the Super
19:49
chat. That's awesome.
19:52
I don't agree. I don't that the price of silver
19:55
and gold have to go down. I have to get another drink of
19:57
water. I'm gonna try to shield you from
19:58
the gold. And I'm hearing other smart
20:04
people say the same thing. I heard Smart Silver Stacker, if
20:07
I heard it correct, excuse me, on his live stream yesterday,
20:11
say the same thing. Why do I not agree that silver
20:15
does not? That silver, if we hit a crisis,
20:18
a Black Swan, whatever it is. Why?
20:21
Because the system has become so much more delicate, so much more
20:25
fragile. And the E word, you know what
20:29
the E word is? The E word's a new one for Rod's
20:33
basement. Dwellers escalate.
20:36
Everything's been escalated, escalated.
20:39
I won't go through all the details, but if you go through
20:41
the past 30 years of crisis, right, Money printing, Unicorn
20:46
fart dust every time there's a problem, what Bernanke did, what
20:51
Yellen did when she was everything has been escalated,
20:54
escalated, escalated. The the, the, the, the, the,
20:57
the, the, the reactions that the Fed has to any little bump in
21:02
the road, right? Because the system continues to
21:05
escalate and get bigger and more fragile.
21:07
They have to escalate the response, and they have to do it
21:10
much more quick. And we've got more people in the
21:15
world now, not in the United States.
21:18
If you're joining me from the Are you joining me from the
21:21
United States of America? Well, guess what?
21:25
Our fellow Americans still haven't woken up to silver and
21:28
gold. It's starting.
21:29
It's percolating. They just turned on the
21:32
crockpot. You know when you make your
21:33
grandma's famous chili, put all the ingredients in, you turn on
21:37
the crockpot and it's just starting to get warm?
21:39
That's where we are here in the United States right now.
21:43
But throughout the world there's a new awareness to how screwed
21:47
up things are, how untenable the situation is.
21:50
So the reaction in the world will be faster than ever to move
21:55
to precious metals. Yes, that's the environment
21:57
where you go to your local coin shop and they say sorry, sorry,
22:01
we don't have any silver. Sorry we don't have any gold.
22:03
Thank you Craig, for the Super chat, man.
22:06
You guys are being super generous today.
22:09
If you wanna hold gold in your hand, if you don't own it, you
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don't hold it, you don't own it. To me, the second best thing is
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owning a bunch of gold in the ground.
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Check them out www.firstmininggold.com Let's
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get back to the regularly scheduled programming.
23:29
My gosh, people ask Rick Rule. People ask him, When do you
23:34
sell? When do you sell your silver?
23:36
When do you sell your silver mining stocks or your gold
23:40
mining stocks? If there's if you experience
23:42
incredible gains right now, we don't know that that's going to
23:46
happen for sure. Nobody has a crystal ball.
23:49
But just in case it does, it's good to be prepared.
23:53
And Rick talked about, you know if you get a stock or or the
23:56
value of some of your metal double S or triples, don't sell
24:00
everything at once. OK, he didn't say that
24:02
explicitly. But what he said is take some
24:04
money off the table that covers your initial investment and the
24:07
rest is oh, there was a term he used that was so awesome.
24:12
It's the point of no concern, not the point of no return, but
24:16
the point of no concern if you can recoup and maybe transfer
24:20
that money into some other real assets to diversify a little
24:24
bit. If you own a stock that goes
24:26
from from from $0.25 to $1.25 and you can recoup your original
24:31
investment, hopefully guys, we're going to be in that
24:34
situation. Once you've recouped your
24:36
original investment, you're at the point of no concern.
24:39
I had a buddy who was a big trader, a company here in Saint
24:43
Louis. You probably heard of an AG
24:45
Edwards. It was a big fine.
24:46
Now it's part of Wells Fargo. I think it is.
24:49
Anyway, he was one of their top #1 traders and he told me if you
24:54
have an asset that's gone up significantly in value, sell 1/2
24:58
of it. Sell a third of it and hope
25:01
you're wrong, right? Get some of your money back out.
25:04
In the case of warns you guys, you're going to see me
25:10
deteriorate over time. Get your money back out your
25:15
original investment. In the case of silver and gold,
25:17
you don't. You don't want to just hold it
25:18
in Fiat paper. Unicorn fart does money.
25:20
You want to put it into some other real asset.
25:23
But that remaining half or 2/3 that you have hope that it
25:27
continues to go up right? Hey, can we get a few more
25:30
thumbs up? Come on man.
25:32
For Ricky's basement, I I told Ricky I'd give him 200 thumbs
25:35
up. We need we need 200 thumbs up.
25:37
If you could make that happen, that's gonna make Ricky happy.
25:40
And trust me, when Ricky's happy at Ricky's house.
25:43
But the world is happy now when do you when do you?
25:51
This is what this again. Last thing that Rick Rule said,
25:54
'cause he's brilliant, mind. The guy asked him when do you
25:57
sell the rest? Like if you own a bunch of
26:00
precious metal? Let's let's talk about the
26:01
precious metal mining stocks, You've had huge gains, he said.
26:05
And I've heard Ross Beatty. Ross Beatty says sell when all
26:08
the ducks are quacking. Rick Rule said when?
26:12
When silver's on the cover of Business Week magazine.
26:16
When silver's on the cover of the Wall Street Journal, that's
26:20
when you might want to think about maybe selling that other
26:22
third. You know, I've never sold any.
26:24
I'm just kind of telling you strategies be prepared, right?
26:27
We want to be prepared for the potential of economic turmoil
26:32
down the road. We want to be prepared for a
26:34
situation where we could. Actually, I know it's hard for
26:37
us to believe, but we could have a time when we have fantastic
26:42
gains in the silver price and gold price and the precious
26:45
metals mining stock. Let's take a deep breath for a
26:48
second. And before I do that, I want to
26:50
mention to you guys, please go check out the new website
26:53
ronsbasement.com. We do have a chat room and we're
26:57
incubating it. And it's gonna be a place.
26:59
And it already is a place where you can go 24 hours a day and
27:03
interact with other basement dwellers like yourself.
27:07
It's gonna be interesting. Now here.
27:10
Are you ready for a crazy, crazy fact?
27:12
Let me let me read this one to you.
27:15
I'm gonna show you this. Actually, hold on, hold on.
27:21
Bear with me. Here we go.
27:24
Do you know who? Tavi Costa.
27:25
Hey, thank you for the Super chat.
27:27
Unicorn fart. And some dust came out.
27:29
Love my look alike from the DePaul unit.
27:34
I think that's Buttercup that just gave me a super chap.
27:37
Thank you, Buttercup. Yeah, it is a stopping stupid
27:40
monkey. Hey, that's Buttercup.
27:42
Hey, Buttercup, good to see you. That's my nephew.
27:45
My favorite nephew. Good to see you, buddy.
27:50
I'm here in Ricky's basement. Let me read this one to you.
27:53
Get back to work. Buttercup, right?
27:55
Yeah, no, he's a great guy, Matthew.
27:58
Don't time him out. Tavi Kosta says it's mind
28:02
boggling right now. That Apple and Microsofts wait
28:08
alone in the S&P 500. Listen to this.
28:11
This is this will knock your socks off because we know the
28:13
fantastic seven right? Microsoft, Apple, NVIDIA.
28:18
These tech stocks right that have done so well price wise.
28:22
Market cap wise, It's mind boggling that Apple and
28:25
Microsoft's weight alone in the S&P 500 are 70 times larger than
28:32
the entire metals and mining industry.
28:36
That's a reflection of how distressed miners have become.
28:39
Let's not forget during inflationary regimes, one must
28:43
strive to find companies with purchasing power to navigate
28:47
these types of environments. Resource companies, despite
28:51
facing increased operating costs, have inherent pricing
28:54
power in their businesses as underlying commodity prices tend
28:58
to perform exceptionally well during such periods.
29:04
Excuse me guys. It's unbelievable how
29:07
undervalued all the commodity, all the mining stocks have
29:11
become. Let's back up and take a little
29:14
stock this week. Before I came on gold was around
29:17
$1980 per oz. Let's remember back in 1999, two
29:22
thousand. You know, I'd like to talk with
29:24
Jorge Canoza, the CEO of Fortuna Silver Mines, the $1 billion
29:29
market cap miner. Jorge's a great guy, one of the
29:33
most respected people in the mining industry, he points out.
29:38
Remember, back in the year 2000, gold was selling for $300.00 per
29:43
oz. All right, it's gone up six
29:44
times in value since then. All right, let's take stock of
29:48
where we are this week 1980, right?
29:51
Is it time to make some feathers fly?
29:56
This will be the 4th time that the gold prices tried to break
30:00
above 2000. That 2000 range 3 attempts is
30:05
very unlikely. A fourth attempt if next week or
30:10
in the following months. As we head up into the Christmas
30:13
season, gold hits that level again right?
30:16
Starts breaking up to a potential new all time high?
30:20
It's even more unlikely that the price will be rejected.
30:25
The odds of us moving to a new all time highs are going higher
30:29
and higher and higher, right. If you like the mining stocks,
30:34
you know, hey look, I would have said this a year ago, I would
30:36
have said they were undervalued a year ago and guess what, they
30:39
became more undervalued. But we're seeing some
30:43
interesting developments. Let me and this has to do with
30:46
the silver price and the gold price as well.
30:48
The companies that are going to market to raise money are
30:51
finding themselves having more people interested in investing
30:56
in the companies. I'm starting to pick up on that
30:58
and that's a very good sign again, right?
31:02
We're turned on the Crockpot. It's starting for the silver and
31:06
gold price. Let me touch on this one as
31:08
well. Another billionaire, another
31:15
billionaire. Einhorn turns to gold.
31:20
OK, let me Let me just quickly read this one to you.
31:25
Green Light Capital reported a major increase in its exposure
31:29
to gold as the hedge funds founder worries about the
31:33
direction of the markets in Q3. Letter to investors, David
31:36
Einhorn OK again, everybody knows who Warren Buffett is.
31:40
There's a lot more guys out there a lot smarter than Warren
31:43
Buffett. I happen to think Charlie
31:45
Munger's smarter than Warren Buffett, right?
31:48
These guys running, they manage money for billionaires, right?
31:53
People that have 500 million, $700 million, and he's moving to
31:57
gold. According to the third quarter
32:00
filings with the SEC, Green Light plunged 35,000,000 into
32:04
the GLD ETF. That increased the fund's stake
32:08
in the ETF by almost 90%, a record exposure for gold at
32:13
green light. OK, the hedge fund also
32:17
reported, listen to this, that they're holding a significant
32:21
amount of physical gold which is not subject to 13 F filings.
32:27
So not only did they buy a bunch of GLD, right, the make believe
32:32
paper ETF that none of us are very fond of, but they also are
32:38
telling us that they have a significant holding in physical
32:42
gold, right? Just like that Senator.
32:45
What was his name? Menendez from what?
32:47
Is it New Jersey or something? He had a significant holding of
32:50
physical gold as well. Don't forget what Matt Gates
32:52
said about that. Remember the senator who's
32:56
gotten all this trouble for taking bribes And they found, I
32:59
don't know, 4 or 500,000 in cash at his house and a bunch of gold
33:02
bars. And one of our senators said on
33:04
the floor, all right, of our Senate.
33:08
He said, isn't it a shame? Isn't what does it say about the
33:11
value of the US dollar that if you want at this, in this day
33:16
and age, that if you want to bribe a Democratic senator that
33:20
you have to give them gold, you won't take dollars anymore.
33:24
Paper money. All right, guys, thank you for
33:27
being here. Thank you for all the Super
33:29
chats, super generosity today. I want you to have a great
33:33
weekend. Don't forget to go to
33:34
www.ronsbasement.com. Check that out.
33:38
Thank you to Coin Shop, Chris. Thank you to our new moderator,
33:41
Sassy Silver. Thank you to Annie.
33:43
Thank you to Jake. Thank you to Coin Shop.
33:46
Chris. Thank you to who?
33:48
Jim M? How could I almost forget?
33:49
Don't forget too, right? We got the big Black Friday
33:52
giveaway. There's a link to how you can
33:55
enter that in the description of this video.
33:58
Have a great day. OK.
33:59
And I'll see you guys soon.