Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 BE READY 🚨 "THIS" NOT GOOD for Silver & Gold Price... -- (Federal Reserve, Recession, Inflation)

Transcript

🚨 BE READY 🚨 "THIS" NOT GOOD for Silver & Gold Price... -- (Federal Reserve, Recession, Inflation) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  We may have some serious trouble ahead for the silver price, for
• 0:04
  the gold price, for the platinum price we're going to cover in
• 0:09
  this video. Why in particular this week
• 0:13
  could be very, very challenging, but also what it means on a long
• 0:17
  term basis. And when I say long term, I
• 0:19
  guess I mean short term, long term, the next month to three
• 0:23
  months also. And that has to do with what's
• 0:27
  going on with the Fed, of course, but also in the economy.
• 0:31
  What news did we get that could be utterly devastating to the US
• 0:37
  economy? We got it some news from Goldman
• 0:40
  Sachs, our friends at Goldman Sachs, we're going to cover that
• 0:43
  as well. What's going on with the UAW
• 0:46
  strike? We're going to touch on that
• 0:48
  situation and I'm going to ask your opinion of what you think
• 0:52
  regarding the United Auto Workers out on strike.
• 0:55
  What could that do to the economy?
• 0:58
  But also, are you in favor? Are you pro or con?
• 1:02
  We're going to cover that. What about the big Australian
• 1:05
  $250 billion bank? That's outlying cash.
• 1:09
  Guys, we got a ton to cover and I owe you a big, big apology.
• 1:14
  Yeah, you can blame me. The price of silver is down
• 1:18
  precipitously this morning. We don't like that.
• 1:22
  Before I came on, I saw silver down $0.40 per oz.
• 1:27
  Gold was down 10, Eleven $12.00 per oz.
• 1:31
  I should have come on earlier and warned you about this.
• 1:34
  Be I had it all prepared. Here's what's going on.
• 1:39
  It's real simple. I was reading last night, the
• 1:42
  week ahead. What big events do we have this
• 1:45
  week that will impact the price of silver?
• 1:48
  Will impact the price of gold. And I read that we have six, no
• 1:53
  less than six Fed speakers this week.
• 1:57
  They are going to blast out a verbal assault upon the markets
• 2:04
  because you know, and I know that's all they can do.
• 2:08
  This week, we have 6 Fed speakers, right?
• 2:11
  They'll go to their fancy lunches and they'll talk about
• 2:14
  how aggressive they have to be with monetary policy to fight
• 2:18
  inflation, including apparently our old friend Jerome Powell
• 2:22
  will be speaking this week as well.
• 2:25
  But they're losing the battle, guys.
• 2:28
  It is so critical to understand. Yes, we could have a horrific
• 2:32
  week this week. We could see silver down by 10%.
• 2:37
  We could see gold maybe drop as much as 70 or $80.00 per oz.
• 2:41
  I hope I'm wrong and I'm not definitively predicting that
• 2:46
  that's the case. None of us has a crystal ball,
• 2:49
  but we are going to get hit with a with a barrage of of of
• 2:54
  hawkish rhetoric. I I'm going to say it one time,
• 2:57
  don't be offended. I like to refer to it as verbal
• 3:00
  diarrhea because that's all the Fed can do at this point.
• 3:04
  A great analogy to think about is you can think about it like a
• 3:09
  like a war, right. The Fed is out of real
• 3:12
  ammunition with which to fight inflation.
• 3:15
  They can't raise rates. We've covered this ad nauseam.
• 3:18
  Basement dwellers right? The 10 year bond is.
• 3:21
  I didn't check this morning, but as a Friday was like 4.4%.
• 3:25
  Banks are on life support, The consumers on life support.
• 3:28
  Companies are on life support. Our government is on life
• 3:31
  support. More and more people are waking
• 3:33
  up to the fact that our government right now is not just
• 3:38
  broke. They're like beyond broke.
• 3:40
  And in managing things like a bunch of drunken sailors, the
• 3:45
  Fed cannot raise rates. On top of that.
• 3:49
  The debt levels, corporate, government, consumer student
• 3:53
  loans, mortgage, all of it. The list goes on and on.
• 3:57
  Is it record? All time highs?
• 3:59
  Higher rates are going to destroy things.
• 4:02
  The rates right now are wreaking havoc, and we haven't even felt
• 4:07
  the full effect. So here's a good analogy and
• 4:10
  we're going to look at this and a couple of two things.
• 4:13
  Antibiotics, this is not a healthcare show, but you've
• 4:16
  heard that about antibiotics. They've lost their effectiveness
• 4:21
  over time because they were over used.
• 4:24
  Well, right now, the 222 components to this antibiotics
• 4:29
  analogy, the Fed raised rates at the fastest rate in history over
• 4:32
  the last 16 months. OK, we're just now starting to
• 4:36
  feel the full impact of that. It's like when you take
• 4:41
  antibiotics and the doctor tells you it's going to take a month
• 4:45
  or it's going to take a week until the antibiotics start to
• 4:49
  work. Supposedly right now it's a lag
• 4:52
  effect. Right now we're just starting to
• 4:54
  feel the economy. And I got more news for you
• 4:56
  later from Goldman Sachs that it can indicate to us that this
• 5:00
  economy that we're in right now can be in big, big, big trouble.
• 5:07
  We're just starting to feel the effects of the interest rate
• 5:10
  hike antibiotics that the Fed gave the economy over the last
• 5:16
  16 months. The other component of that
• 5:19
  analogy is you've also heard this about antibiotics.
• 5:24
  They've lost their effectiveness because they've been overused
• 5:27
  overtime and that's also when does the Fed looks to go
• 5:30
  forward. They don't have many more
• 5:32
  antibiotic pills to use, but on top of that they're losing their
• 5:37
  effectiveness. You know, it's like if if two
• 5:40
  countries are in a war, a war, not a war, a war.
• 5:44
  I even asked my 11 year old daughters last night, is it war
• 5:47
  or war? I don't know why it's war, but
• 5:49
  it's war. War.
• 5:51
  They're in a war. We got to giggle a little bit on
• 5:55
  this heavy mass subject matter. In one country's out of
• 5:58
  ammunition. They're not going to say they're
• 6:00
  out of ammunition. They're going to say, oh, we got
• 6:02
  more coming and we're going to get you.
• 6:04
  And that's just what the feds doing. the Fed is going to kill
• 6:07
  the price of silver and gold and maybe even platinum this week.
• 6:11
  Possibly. And they're doing it with why?
• 6:14
  Why? Why I I didn't have time to
• 6:17
  look. I looked at the price of gold
• 6:18
  and silver this morning, and it had a nosedive.
• 6:22
  I'm almost guaranteeing you. That's because one of these Fed
• 6:25
  speakers said something. But it's like the Wizard of Oz,
• 6:31
  right? Remember the movie The Wizard of
• 6:33
  Oz? At the end, the Scarecrow and
• 6:35
  Dorothy and the Tin Man and the Cowardly Lion?
• 6:38
  They realized that the guy behind the curtain was just a
• 6:42
  big fraud. It was all a big illusion,
• 6:45
  actually. A lot of that movie has to do
• 6:47
  with, from what I understand, precious metals and some of the
• 6:50
  EKE. It was actually a politically
• 6:52
  oriented movie back in the time, and it applies today.
• 6:56
  Jerome Powell's like the wizard. Like the the wizard behind the
• 6:59
  curtain, right? And did you see him during the
• 7:01
  last press conference? He looks scared to me.
• 7:04
  He looked like a scared little boy, you know?
• 7:06
  He didn't look like a man who believed what he was saying.
• 7:10
  Nonetheless, be ready this week, guys.
• 7:12
  It's it's not good, you know, and and, but, but, but here's
• 7:17
  the good news for silver and gold investors, right?
• 7:20
  We're going to we're going to endure this barrage.
• 7:23
  But in the long run, when we look out, maybe even before the
• 7:27
  end of the year, the real price of the metals will begin to
• 7:33
  manifest themselves. That's my wholehearted belief.
• 7:39
  Sorry, my voice is a little crackly this morning.
• 7:42
  I hope you can endure that as well.
• 7:44
  Hey, thank you guys all for being here.
• 7:46
  Please give it a thumbs up. Press that thumbs up button.
• 7:49
  That helps. That helps get the word out to
• 7:51
  more and more people. Here's a great question I heard
• 7:55
  posed by one of the one of the analysts on X I'm not going to
• 8:00
  say Twitter. I'm going to say X.
• 8:02
  They said why don't we ask the Fed this?
• 8:05
  And this is about our government.
• 8:06
  This is about Joe Biden and Janet Yellen, right, Our
• 8:09
  favorite grandma. Why not ask the Fed?
• 8:14
  Why now Is the government spending at recession level
• 8:19
  spent? They're doing recession level
• 8:21
  spending, massive deficit level spending.
• 8:24
  If we are not in a recession, we're hearing that now from
• 8:29
  every corner. Why is our government spending
• 8:33
  right $1.4 trillion more every year right now?
• 8:38
  That's recession level. That's like wartime level
• 8:41
  spending. If we're not in a recession, go
• 8:46
  figure. You know, I really want to get
• 8:48
  Jerome down here in the basement.
• 8:49
  Jerome Powell, one more at one last time.
• 8:52
  I'm going to invite you down to the basement so you and I can
• 8:55
  talk. I'll be nice.
• 8:56
  But us basement dwellers, we've got some questions for you.
• 9:01
  And what is this telling us about the economy?
• 9:03
  So we're spending right at recession levels right now, but
• 9:07
  what's going on right now in the economy that is down, right?
• 9:12
  Scary. Let me share this with you.
• 9:15
  Buckle in, because this is not good.
• 9:18
  And this tells us a lot about what's happening in the economy.
• 9:23
  This comes from our friends at CNBC.
• 9:26
  Credit card losses are rising at the fastest pace since the great
• 9:32
  Financial crisis. Credit card losses.
• 9:35
  This comes from Goldman Sachs. Credit card companies are
• 9:41
  racking up losses at the fastest pace in almost 30 years outside
• 9:47
  of the great financial crisis. According to Goldman Sachs,
• 9:51
  credit card losses bottomed in September of 2021, and while
• 9:56
  initial increases were likely reversals from stimulus, they
• 10:00
  have been rapidly rising since the first quarter of 2022.
• 10:04
  So the credit card companies were doing great just what, two
• 10:08
  years ago because everybody had received all this printed
• 10:12
  Unicorn fart dust. Make believe money from the
• 10:15
  government. So people had money in savings
• 10:18
  accounts. People had we're paying off
• 10:20
  credit card debt, Everything looked hunky Dory.
• 10:23
  But now, two years later, we're seeing record levels of credit
• 10:29
  card losses, delinquencies, people saying, sorry, I can't
• 10:34
  pay, OK, it's called bankruptcy. I'm going to claim bankruptcy,
• 10:39
  OK? Since that time, it's been an
• 10:42
  increasing rate of losses. It's far from over, predicts
• 10:47
  Goldman Sachs. Losses currently stand at almost
• 10:51
  4%, up 1.5 percentage points from the bottom, and Goldman
• 10:56
  sees them rising again to almost 5%.
• 11:00
  This comes at a time when Americans owe more than $1
• 11:03
  trillion on their credit cards, according to the Federal Reserve
• 11:07
  from New York City. Here we think the quote We think
• 11:11
  delinquencies could continue to under underperform seasonality
• 11:16
  through the middle of the next year and don't see losses
• 11:18
  peaking until late 2024 or early 2025.
• 11:23
  For most issuers, this this is key.
• 11:28
  This is key. What is unusual is that the
• 11:33
  losses are accelerating outside of an economic downturn, he
• 11:40
  pointed out. OK, so think about that.
• 11:42
  What did we just talk about? We just said why.
• 11:45
  Thank you, Don, for that super chat.
• 11:47
  Wow, super generous. Thank you.
• 11:50
  Thank you. Why is our government spending
• 11:54
  like we're in a recession, right?
• 11:56
  If we're not in a recession, think about this basement
• 12:01
  dwellers and why, like they point out here, are we having
• 12:07
  Are we having credit card losses at a rate that usually coincides
• 12:14
  with a major recession? If we're not in a recession, why
• 12:18
  is the government spending at recession levels?
• 12:20
  Why are consumers defaulting on their credit cards?
• 12:25
  Both at rates that only occur during a recession.
• 12:28
  If we're not in a recession, sorry, I want to bang the desk.
• 12:32
  Does that make sense? But where everything's great,
• 12:35
  just ask Jerome Powell. Ask Janet Yellen.
• 12:38
  You know, we're not in a recession.
• 12:40
  I don't think, I don't think they would ever say that we're
• 12:43
  in a recession. I'm going to say thank you to
• 12:45
  our sponsor, Pin Becks, online bullion dealer.
• 12:49
  If you want to get yourself some silver, gold, or platinum, just
• 12:53
  in case you think we might be heading into a recession, that's
• 12:58
  the place to check out. They're trustworthy.
• 13:00
  They had the best prices, the best service.
• 13:03
  They're a gracious sponsor of Ron's basement.
• 13:05
  They allow me to make these videos, so please go check out
• 13:08
  Pin bex Pi, MB, EX. Pin Bex.
• 13:12
  I love to say the word as well, and I've bought silver from
• 13:15
  them. I only take sponsorships from
• 13:17
  companies that I work with. Now let's get back on track
• 13:21
  about these credit cards. Oh, here we'll get fancy of the
• 13:26
  last of the past five credit card lost cycles.
• 13:30
  The three were characterized by recessions.
• 13:33
  That's what the guy from Goldman Sachs says.
• 13:34
  Well, no joke. Boy, he must have a fancy
• 13:37
  education. The two that occurred when the
• 13:40
  economy was not in the recession were in the mid 90s and 2019.
• 13:46
  So here, in our view, this credit card cycle resembles the
• 13:51
  characteristics of what was experienced in the late 1990s.
• 13:55
  BS, right? They're all in this together.
• 13:58
  They're all going to say we're not in a recession, people
• 14:01
  aren't paying their credit cards, people aren't going to
• 14:06
  pay their student loans back, people aren't paying their car
• 14:11
  payments. What's next?
• 14:13
  Do you think maybe people might stop paying their house
• 14:17
  payments? And then who's going to buy
• 14:20
  those houses that the banks loaned all that money on?
• 14:23
  Who's who's going to be able? And if the feds going to be so
• 14:26
  tough going forward, Jerome Powell's going to be, you know,
• 14:30
  tough on inflation, rates are going to be higher, What happens
• 14:34
  when mortgage rates go from 8% where they darn near our right
• 14:38
  now up to 10 or 12% and people aren't paying their houses?
• 14:44
  Who's going to buy those houses? We if they keep this up and
• 14:48
  don't forget silver and gold this week are going to be facing
• 14:52
  a a a tornado of of trouble coming from the Fed in the form
• 14:59
  of verbal diarrhea. I'm sorry, I have to say it.
• 15:02
  There's no other way, you know, no other way to say it.
• 15:05
  Those cloud they're rolling out the clowns, right?
• 15:08
  They're rolling out all the Fed governors to say, yeah, we're
• 15:12
  going to be tough. We're going to be.
• 15:14
  Yeah, right. OK And then the Wizard of Oz
• 15:17
  himself is behind the curtain pulling the strings.
• 15:20
  People are starting to wake up, though.
• 15:23
  That's the thing. That's the thing.
• 15:25
  OK. Even Bloomberg, you know,
• 15:27
  Bloomberg, they had something very interesting.
• 15:30
  Let me, you know, people are asking me.
• 15:33
  Somebody said, why don't you ever sort the cite your sources
• 15:36
  for what you talk about here. That's what I that's that's my
• 15:39
  sources. You want to come over and read
• 15:41
  through it, you go right ahead. But let me just pull one off the
• 15:45
  top. This is from Bloomberg.
• 15:50
  It says Chinese gold buying is driving a paradigm shift in
• 15:55
  bullion. So this whole article, I'm not
• 15:57
  going to read it to you because I read it for you already.
• 16:00
  Basically what it says is central banks are buying gold.
• 16:04
  The Chinese are buying gold. Oh really?
• 16:08
  If you're a basement dweller, which you are, you're here with
• 16:11
  me. And thank you for doing that.
• 16:12
  Don't forget, thumbs up. We almost got 100.
• 16:14
  I'm going to ring the bell 10 times right?
• 16:17
  When we get to 100, thumbs up. OK, but if you're a basement
• 16:20
  dweller, you know that the Chinese are buying gold.
• 16:25
  But what this article points out, and they talked to several
• 16:29
  top analysts. OK, there's the bells.
• 16:37
  I apologize to those of you who are annoyed by that, but that
• 16:40
  will never go away. Think of something happy when
• 16:43
  you hear the bells ring, like the fact that the Chinese are
• 16:48
  buying gold hand over fist. We've we've covered that ad
• 16:52
  nauseam. We don't need to go through that
• 16:54
  again, do we? No, but what's interesting about
• 16:58
  this article is that the these analysts point to the fact that
• 17:02
  gold has done so well in this environment.
• 17:07
  Guys, gold should be right now at 1700 an ounce 16501750.
• 17:15
  I'm not saying from a traditional analysis point of
• 17:19
  view, when you look at real interest rates, because now that
• 17:23
  interest rates are supposedly higher than inflation and I say
• 17:26
  supposedly because do we really believe the inflation numbers?
• 17:29
  But officially, according to our government, who would never,
• 17:33
  ever, ever, your government would never lie to you, right?
• 17:38
  No, right we have, we have positive real interest rates.
• 17:42
  That means you can buy a six month CD or a bond that's going
• 17:48
  to pay you more interest, right? Then supposedly the inflation
• 17:52
  rate. In that environment, gold should
• 17:54
  be down in the toilet. But you know what?
• 17:57
  And when I talk about gold, I'm talking about silver.
• 18:00
  I'm talking about platinum as well.
• 18:02
  But you know what? And that's what this article
• 18:03
  points out. All these, you know, MB A and
• 18:07
  PhD and went to Oxford and Harvard and the Wharton School
• 18:10
  of Business right. They're all saying we don't
• 18:13
  understand why the gold price isn't lower.
• 18:16
  The gold price should be much lower.
• 18:18
  It's up a new paradigm is what they're saying a new paradigm
• 18:23
  that means a new way of looking at things and they're
• 18:27
  recognizing that mainstream media.
• 18:30
  Bloomberg They're recognizing like you know there's something
• 18:35
  going on in our models are that we, that we spent 35 years and
• 18:41
  $80 million developing. Our models are confused as to
• 18:45
  why Gold is doing so well, why Silver's not at $18.00 an ounce,
• 18:52
  right? It's a new.
• 18:54
  Thank you, Craig. Thank you, my friend.
• 18:57
  I know it isn't. Oh, it's a lot.
• 18:59
  Hey, any super chat is greatly appreciated.
• 19:02
  Anything helps. Thank you, Craig.
• 19:04
  OK, I appreciate it. So this is, this is you can look
• 19:08
  this one up yourself, right? Chinese goldmine new Paradigm
• 19:15
  from Bloomberg, right? That's like the Wall Street
• 19:18
  Journal or the Financial Times and these people are confused.
• 19:23
  Are we confused? No, because we know.
• 19:26
  We know that gold and silver and platinum, Palladium, whatever,
• 19:31
  these all the Met, all the copper.
• 19:33
  We can throw some. We'll throw a little copper in
• 19:35
  there. Copper's our friend as well.
• 19:37
  They've held their value for all these years.
• 19:39
  They know the Mickey Mouse BS going on right now with the Fed
• 19:46
  guys. Hang in there.
• 19:48
  All right. Don't forget.
• 19:49
  And we got a lot more to talk about.
• 19:50
  We still have to cover the UAW. We got a thought.
• 19:54
  We're going to talk about this Australian bank.
• 19:56
  Are you ready for Cbdc's? You better get ready.
• 20:00
  Are you ready for no more cash, Right.
• 20:02
  No more paper. I'm going to leave my paper
• 20:04
  money alone. You better be ready.
• 20:07
  But right now we're going to hit a little storm.
• 20:10
  Thanks to Jerome Powell and his little clown show.
• 20:13
  They rolled out the clown show this week.
• 20:16
  Get ready. You know the circus is coming to
• 20:18
  town, and they're going to be telling us a bunch of BS about
• 20:24
  what they're going to do to supposedly fight.
• 20:26
  The reality is, look, here's a little secret for you.
• 20:30
  The smartest people in the room know this mathematical fact.
• 20:37
  OKI have a degree in accounting from a fancy university.
• 20:41
  OK, don't listen to a guy in his basement.
• 20:44
  I don't know what I'm talking about now.
• 20:46
  I understand how money works. I understand math.
• 20:49
  I have a, like I said, accounting, how all this stuff
• 20:53
  works. There's no way, there's no way
• 20:56
  out of the situation that we're in right now without an outright
• 21:00
  default by our government or and they don't want to do that
• 21:05
  because that causes pain for the rich.
• 21:07
  I mean look at what they look at what's going on over the last
• 21:10
  30-40 fifty years. The the elite, the top 1% have
• 21:14
  hijacked the system. Do you think now they're going
• 21:16
  to let it crash? No, they're going to find some
• 21:19
  imaginative way to perpetuate things and the only way they can
• 21:24
  do that is by inflating away the debt.
• 21:29
  I won't go into it, OK? You can look it up and and if
• 21:32
  you want to dive into that yourself, and I'm telling you
• 21:35
  mathematically, OK, the brightest and I'm not saying I'm
• 21:38
  the brightest guy in the room, but the other bright people
• 21:42
  besides you because you are bright.
• 21:44
  That's one thing. Google Analytics tells me that
• 21:48
  about my audience. Advertisers are willing to pay
• 21:51
  big money to advertise to you guys because you are bright
• 21:54
  people. That's an absolute fact.
• 21:56
  So give yourself a little pat on the back.
• 21:58
  But the bright, bright people that spend their, their, their,
• 22:02
  their lives analyzing this, and I'll throw myself kind of into
• 22:06
  that. Realize there's no way out of
• 22:09
  this situation without inflating away the debt.
• 22:11
  So those BS 3% inflation numbers, at the end of the day,
• 22:17
  the Fed needs inflation. I want Jerome Powell to come
• 22:21
  down here and explain to me and explain to me how the US
• 22:29
  government can survive otherwise because we're going to get to a
• 22:33
  point, OK. When they run out of their repo,
• 22:35
  reverse repo money they've been using to buy all the bonds, you
• 22:38
  know, given that to the banks and the banks buy the bonds,
• 22:41
  that's going to run out. Some people are saying within
• 22:44
  like 8 to 9 months. Wow.
• 22:46
  Thank you, Don. Thank you for that super chat,
• 22:49
  man. What?
• 22:52
  Oh, my gosh. Thank you, Don.
• 22:54
  That was super generous. The government's going to run
• 22:58
  out of money. I'm in shock.
• 23:00
  I'll say one more time. Thank you, Don.
• 23:02
  I hope that was you didn't add an extra digit on accident.
• 23:06
  And I really appreciate that the government's going to run out of
• 23:09
  money and then the only option is going to be let everything
• 23:13
  crash or or print, print, print, print, print, right.
• 23:20
  I mean that's the reality, that's the harsh situation that
• 23:25
  we're in right now because our because of fiscal right, that's
• 23:29
  the government and monetary, that's the Fed mismanagement.
• 23:34
  They really, really stuck it to us guys.
• 23:38
  OK, but so we don't like it, but we want to be aware.
• 23:43
  We want to know what's going on this week.
• 23:45
  I'm going to say it one last time, is going to be a bit of a
• 23:49
  battle for silver and gold in the face of a bunch of continued
• 23:54
  Fed BS. the United Auto Workers are on strike.
• 23:57
  What do you think about that? I want to get a feel for my
• 24:01
  audience and it's OK. We all have different opinions.
• 24:04
  I was a steel worker when I was in college.
• 24:07
  I went to Fancy University and then during the summer I was a
• 24:11
  member of the Steel Workers Union.
• 24:13
  Probably some of the best memories of my life, by the way.
• 24:16
  Making steel bait, three piece baby food cans.
• 24:18
  Anyway, are you? Are you for you can type FOR or
• 24:26
  against the UAW. Are you?
• 24:29
  Are you? Are you are.
• 24:30
  Do you have no feelings about it?
• 24:31
  I just want to get a feel for where the audience stands
• 24:34
  because we're seeing this all over.
• 24:38
  OK and and and and as we think as we talk about what's going on
• 24:41
  with the credit cards right now that Americans are out of money,
• 24:45
  out of savings, their credit card balances are going through
• 24:48
  the roof. Can we not understand to a
• 24:51
  certain extent that why people thank you guys for the Super
• 24:59
  chats. I don't know what to say except
• 25:00
  thank you. Casey's against Ricky's House of
• 25:03
  Crap is for Marcos is for, Brandon's for.
• 25:08
  Are you for or against Brother Wado against 4/4.
• 25:12
  I'm just curious, but the middle class is suffering right now,
• 25:19
  OK? I mean, that's the reality.
• 25:21
  We talked about silver and gold. We talked about the middle class
• 25:26
  in this country had been just completely squeezed.
• 25:30
  And if we compare that to India, if we compare that to a country
• 25:34
  like China where the middle class is is experiencing like
• 25:39
  crazy unbelievable growth right now, what is going on in this
• 25:44
  country? That's my question.
• 25:46
  What is going on in this country right here?
• 25:50
  Let's talk about CBDC's digital money, digital currency.
• 25:55
  I was shocked and I think yesterday I put out a short
• 25:58
  video about this. I was shocked to read that a
• 26:02
  bank in Australia. OK, when we say Australia, yes,
• 26:05
  it's halfway around the globe to most of us in the United States.
• 26:09
  But Australia is is part of the western system, the western
• 26:13
  economy, a $250 billion bank. Let me see if I can slaughter
• 26:19
  the name of this bank for you. But it's Macquarie is how I'm
• 26:24
  going to pronounce it. Hopefully I have that right.
• 26:26
  Maybe some of my Australian friends can tell me $250 billion
• 26:31
  Australian bank. That's big.
• 26:33
  That's huge. Cash done.
• 26:36
  OK, All right. If if you want to go into that
• 26:39
  bank, and that's by the end of 2024, no more cash.
• 26:44
  None. You want to go into a branch and
• 26:46
  get cash? Go see a teller.
• 26:49
  Can't do it. What?
• 26:50
  Not allowed. Their telephone banking system
• 26:53
  not allowed. It's done.
• 26:55
  OK, It's crazy what is happening right now.
• 27:00
  Think about this. This is a major bank basically
• 27:03
  telling their customers, we don't, we aren't going to deal
• 27:06
  with cash, period. The only way you'll be able to
• 27:09
  get cash if you bank with Macquarie Bank is by going to an
• 27:14
  ATM. They're going to have some ATM
• 27:16
  where you can withdraw a little cash if you need it.
• 27:19
  They're going completely digital.
• 27:21
  Digital, whoa, what do you think about that?
• 27:26
  What do you think? And I put out a poll yesterday
• 27:28
  and it was really split. I asked you guys, do you think
• 27:31
  that in three years we're going to have cash or do you think
• 27:35
  it's going to be gone within three years?
• 27:37
  Do you think that between three and seven years cash will be
• 27:40
  gone or do you think there were three options or will cash be
• 27:44
  around forever? It was like split a 30.
• 27:46
  You thought cash will be gone within three years.
• 27:48
  A third thought, it'll be gone between 3:00 and 7:00 and a
• 27:51
  third thought, we're going to have cash forever.
• 27:52
  I think it's between somewhere between three and seven years.
• 27:57
  We are going to, they're we're they're getting rid of cash.
• 27:59
  Guys, I think announcements like this in the coming 123 years are
• 28:05
  going to be commonplace cash. No more everything all digital.
• 28:09
  And isn't this just one step closer to an outright CBDC
• 28:15
  environment? Let me read, I'll just read you
• 28:18
  a couple of quick quotes from this.
• 28:21
  Here's what the bank said between January of 2024 and
• 28:24
  November Okay. So between January and November
• 28:27
  of next year, we will be phasing out our cash and check services
• 28:31
  across all Macquarie banking and wealth management products.
• 28:35
  We are also switching off our automated telephone banking
• 28:40
  service used to make payments over the phone.
• 28:43
  This means that from November of 2024, will no longer offer cash
• 28:49
  or check services. I mean, what?
• 28:53
  Instead you'll be able to make payments digitally.
• 28:57
  A safer, quicker and more convenient way to bank.
• 29:00
  It's all in your best interest, right?
• 29:03
  It's like when companies lay people off or cut paychecks.
• 29:06
  This is really in your best interest.
• 29:08
  Yeah. I don't know you will not.
• 29:12
  This is the interesting thing and I'm sure I read that
• 29:17
  correctly. If you have, you won't be able
• 29:19
  to deposit cash. All right.
• 29:22
  I mean what the heck is going on?
• 29:24
  This is I I had to be honest that, you know, I was never a
• 29:27
  big huge like CBDC, Oh my God, you know, afraid of Cbdc's.
• 29:33
  But to me that indicates that we're certainly heading in that
• 29:38
  direction and I think we're going to see more and more of
• 29:41
  that type of announcement. And guys, what does that mean
• 29:44
  for silver and gold? You know, I, I guess I, I seem
• 29:48
  to repeat this to you every two or three days when everything
• 29:52
  goes digital. I think that silver and gold are
• 29:57
  going to catch a huge bid. People are going to be flocking
• 30:01
  to their silver, flocking to their gold.
• 30:04
  OK. That's absolutely what I see
• 30:07
  being the case. I think people are going to
• 30:10
  realize like okay, there's no more.
• 30:14
  Everything's digital. I don't like that.
• 30:16
  I want something real that I can hold on to.
• 30:18
  Even just the marginal buyers the people who maybe maybe
• 30:23
  bought some silver eight years ago or 12 years ago there or or
• 30:26
  15 years ago or bought some gold are going to wake up and be like
• 30:30
  you know I don't like the fact that everything that I have
• 30:35
  that's supposedly of think about this think about this scenario.
• 30:39
  Think about five years from now and there's no more cash sorry
• 30:44
  all your there's no more cash no more coins.
• 30:46
  It's all gone. Everything is digital how are
• 30:50
  people how are how are how are you going to feel.
• 30:53
  And it's not just us because we already know we already feel
• 30:56
  that way. But put yourselves in the in the
• 30:58
  in the shoes of a of an averageish intelligent person
• 31:03
  and they're going to be like at that point everything I own a
• 31:08
  value from a monetary perspective is on my phone is in
• 31:14
  cyberspace is make believe. I don't know.
• 31:19
  You know. I mean aren't they going to wake
• 31:20
  up and be like you know maybe maybe it'll be maybe it's a good
• 31:24
  idea that I get a some real asset because cash is worthless.
• 31:28
  Paper money is no longer, you know, this.
• 31:31
  This will have officially become worthless.
• 31:35
  At that point, a lot of people are going to realize like, hey,
• 31:41
  you know what, maybe, just maybe, I want to hold something
• 31:45
  real, something of value, just in case my phone stops working.
• 31:52
  I don't have any food stored up. I don't have any water stored up
• 31:55
  and all my entire ability to live is based upon my phone
• 32:01
  working. Aren't those people going to
• 32:03
  maybe just maybe at that point say, you know, you know, I I'm
• 32:09
  thinking I want to have something real.
• 32:11
  I want to have I maybe I want to have some of this right, the
• 32:18
  silver or maybe some gold. I just don't.
• 32:22
  I want more than than this here. That's your whole your whole
• 32:28
  life savings. How does that feel?
• 32:33
  I don't know. I don't feel comfortable with
• 32:36
  that. And I think a lot more, we don't
• 32:38
  know. We know now when just a few more
• 32:44
  people wake up to what you already know.
• 32:47
  And I already know, OK, it's going to be potential.
• 32:53
  It's just a few people come join us.
• 32:55
  It's going to be a big, major supportive factor for the silver
• 32:59
  price and the gold price. We know let's just, you know,
• 33:04
  today's rough, it's going to be a rough week, but let's review,
• 33:07
  let's go back six months. We just went forward five years,
• 33:11
  let's go back six months to what happened during that little
• 33:15
  bitty banking crisis we had back in March, April of 2024 when
• 33:19
  three of the four largest banks in the history of the United
• 33:21
  States went belly up. And they still can't by the way.
• 33:25
  So a lot of the assets that those banks supposedly held, in
• 33:29
  particular their commercial real estate portfolio, because nobody
• 33:33
  wants it. But nonetheless, when those 3
• 33:35
  little banks had that little problem that Jerome Powell, he
• 33:39
  didn't see three days earlier when he was testifying in
• 33:42
  Congress telling them that every everything was fine,
• 33:44
  everything's great, everything's fine.
• 33:46
  And then three days later, we're having emergency meetings
• 33:50
  between the Federal Reserve and Janet Yellen and we got a
• 33:53
  banking crisis. I remember it was Sunday.
• 33:55
  I was barbecuing and people are lighting my phone up.
• 33:57
  I'm like, what is going on, right?
• 34:00
  What is happening? And there have an emergency
• 34:02
  meetings. I got, we got one question.
• 34:07
  Just remember, OK, remember that little sin of that little, that
• 34:10
  little period of time. People flocked to gold.
• 34:14
  People flocked to silver. There's a great article.
• 34:19
  There's a great, great article. It was a mainstream media
• 34:24
  article. It was.
• 34:25
  I was a CNBC or or maybe was a Wall Street Journal about
• 34:28
  people. Still, it was in reference to
• 34:30
  that senator who just got busted because he had a bunch of gold
• 34:33
  bars that he'd received. He didn't ask for cash.
• 34:37
  You got gold bars. Maybe those senators aren't so
• 34:41
  dumb after all. Anyway, it talked about how
• 34:44
  people flocked and are still flocking, and this was in
• 34:49
  particular to gold, to physical gold, right?
• 34:53
  That's what's going to happen when everybody wakes up and it
• 34:56
  is going to it's it, it we, we. I'm not telling you what to do.
• 35:01
  I'm not giving financial advice. But if you if if I were a person
• 35:06
  who didn't have what I felt was a sufficient supply, I would be
• 35:10
  dollar cost averaging into precious metals.
• 35:13
  Now because we know we know what the what the world is doing.
• 35:17
  We know that China and India and all the BRICS country, Saudi
• 35:22
  Arabia, they're sucking metal into their coffers.
• 35:26
  It's getting harder and harder to find.
• 35:29
  OK, we we know the limit supply of gold.
• 35:35
  I mean, do you realize that like every year it's not like gold
• 35:38
  miners could could supply a bunch more gold like it best.
• 35:41
  They add like 1% to the entire world gold supply and they
• 35:46
  can't. It's very difficult for them to
• 35:49
  find more gold. You know the story on silver,
• 35:52
  you basement dweller silver productions going down.
• 35:56
  There's not a big new supply coming on.
• 35:59
  It's not going to take, it doesn't take a lot.
• 36:02
  I mean that that that increase in demand that we saw during
• 36:06
  March, April, may have felt crazy and and the online bullion
• 36:11
  dealers were making you wait three weeks to get your medal
• 36:14
  and you had to order over A5. They raised their minimum order
• 36:18
  level. And you know and and I know Andy
• 36:20
  Sheckman, I don't think he said like I added more customers in
• 36:23
  one month than I had during the entire previous, I don't know
• 36:26
  was a year or five years, something like that.
• 36:28
  It was crazy. That was nothing compared to
• 36:31
  what we could see if we get, if we keep heading in this
• 36:35
  direction in which we're heading right now, we could see an
• 36:39
  unbelievable demand. I also quickly want to say thank
• 36:42
  you to our other sponsor. There it is, the old Bear, he
• 36:46
  loves first mining gold. They're a gold development
• 36:49
  company. If you want gold in the ground,
• 36:52
  OK, A company that's already discovered major gold reserves
• 36:58
  in the ground in Canada, which is a safe place right now, check
• 37:02
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  projects in Canada and four other projects that they own
• 37:10
  either all or part of as well all in Canada and they're
• 37:15
  exploring for more gold. It's a unbelievable value
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  opportunity right now in my opinion.
• 37:23
  I don't offer financial advice. I own the stock.
• 37:26
  OK. I only accept sponsorships from
• 37:29
  companies in which I own them personally.
• 37:32
  I've owned First Mining for years.
• 37:34
  I know the CEO. I know Keith Newmeyer founded
• 37:38
  the company. I believe in.
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  Keith Newmeyer. Check them out.
• 37:41
  OK. firstmininggold.com. Thank you.
• 37:44
  No more. No more commercials during this
• 37:47
  interview. OK.
• 37:48
  No art. I'm sorry.
• 37:49
  Live stream video, whatever we want to call it, I'm losing it.
• 37:53
  I spent the night last night with my daughters and her friend
• 37:58
  at Six Flags Fright Fest. So my I'm, I'm, I'm a little, my
• 38:02
  brain still a little shaken up from from ours.
• 38:05
  Thank you, Marcos, for that super chat.
• 38:07
  Thank you guys. Man, you are awesome.
• 38:10
  What else is going on in the world?
• 38:12
  We talk about silver and gold. This is not a subject that we we
• 38:17
  breach very often on this channel.
• 38:19
  I'm not a big fan of war, war, whatever.
• 38:24
  I think Susie's on here. She likes when I say war.
• 38:26
  War Anyway are things we we have a we have a all out conflict
• 38:31
  right now in Europe. You know we talk about the world
• 38:34
  splitting. We're not just saying people
• 38:37
  aren't agreeing, OK. And and verbally we have actual
• 38:42
  shooting unfortunately and horrific situations unfolding.
• 38:45
  And we we heard from let me read this to you, this is from was
• 38:50
  from the the Russian foreign minister Lavrov said this at the
• 38:54
  United Nations. And I guess what I'm saying is
• 38:56
  is that this this bifurcation, this dichotomy that we're having
• 39:00
  right now isn't getting any better.
• 39:02
  I'm going to quote what he said. He said our future is being
• 39:06
  shaped by a struggle, A struggle between the global majority in
• 39:11
  favor of a fairer distribution of global benefits and civilized
• 39:16
  diversity. He's referring to the bricks
• 39:18
  when he says that, and between the few who wield neocolonial
• 39:24
  methods of subjugation in order to maintain their domination,
• 39:29
  which is slipping through their hands.
• 39:32
  That would be the West, is who he's referring to there.
• 39:35
  Not saying I agree or disagree, look, I was born in America.
• 39:39
  But I think what's important, the take away from reading that
• 39:43
  is the fact that this split that we have right now in the world
• 39:48
  is not showing any signs of healing.
• 39:53
  It's only showing signs of getting worse.
• 39:55
  They're saying that basically, he told the UN.
• 39:58
  That if you if they want to fight, you know, if they want to
• 40:01
  continue this war. We're ready.
• 40:03
  We'll continue the war so the react we look.
• 40:07
  We don't like it. I don't like it.
• 40:09
  I'm sure you don't like it either.
• 40:11
  But the reality is the world is continuing to not get along.
• 40:17
  I think is a good way to sum that up.
• 40:19
  We got 200 thumbs up. Hey, thank you guys.
• 40:22
  I'm going to ring the bell over here and we got 400 people on
• 40:30
  the live stream. You guys are awesome, man.
• 40:33
  The basement is where we hang out.
• 40:35
  I want you to know this. You belong here.
• 40:38
  Okay. We all need friends.
• 40:40
  We all need. And we need Facetoface
• 40:42
  interaction. You can see me.
• 40:44
  I feel like I can see you. And it's a big, big deal.
• 40:47
  And we are in a tough business. Pat yourself on the back,
• 40:51
  brother, sister, Pat yourself on the back.
• 40:55
  Because you know what? We are in a tough, tough
• 40:58
  business. You know the precious metals, We
• 41:01
  know the value. We know the story behind it.
• 41:05
  But the big power structure is, how would I say this, not
• 41:10
  necessarily our friend And and we are to a certain degree
• 41:14
  fighting a battle, fighting it together.
• 41:17
  But at the end of the day, we can always remember the history
• 41:23
  of the medals always have been valuable and everywhere.
• 41:28
  Hey, let's jump over to the chat and say hello.
• 41:31
  Thank you again for the Super chat.
• 41:33
  Wow. Don.
• 41:34
  That's the Don Howe gave me an unbelievable super chat.
• 41:37
  And I'm so grateful and I'm sure I know Susie is all of us.
• 41:43
  Thank you guys. Thank you.
• 41:46
  Jake's custom parts. Neil.
• 41:48
  Hello, Neil. Neil Hahn's dynasty.
• 41:50
  The platinum guru. Annie Oakley's here.
• 41:54
  Wow. Coin shop.
• 41:55
  Chris. Guys, please say thank you to
• 41:57
  all the moderators. They go out of their way to make
• 42:00
  this show possible. We are the basement dwellers.
• 42:06
  OK. I will be back tomorrow.
• 42:08
  And until then, I want you to be well, thank you.
• 42:12
  OK, let's be nice to ourselves. First and foremost, the best we
• 42:16
  can today. And that will enable us to be
• 42:18
  nice to others. Oh, there was something else.
• 42:21
  Oh, here, here. Oh, wait, don't go, Don't go.
• 42:24
  This hit me last night. I was thinking about us basement
• 42:28
  dwellers. I love that term.
• 42:30
  Right. And I was thinking like, not.
• 42:33
  I did. I wasn't trying to think of a
• 42:34
  slogan. This just, like, came into my
• 42:36
  mind out of out of nowhere. I was like basement dwellers.
• 42:40
  The truth comes from the most unlikely places.
• 42:46
  I don't know, I thought that was a good one.
• 42:47
  So watch out for the crypto scammers coin shop.
• 42:51
  Chris is messaging me. He wants you to be safe.
• 42:54
  I will never request you to contact me via WhatsApp or
• 42:59
  anything. If you want to get in contact
• 43:00
  with me or Susie, our e-mail addresses are in the description
• 43:05
  of every video. If you want to get in touch with
• 43:08
  Coin Shop Chris, e-mail me and I can provide you his contact
• 43:13
  information as long as he's OK with that, which he always is.
• 43:17
  If you want to support Coin Shop Chris, there's a link in the
• 43:21
  description of this video on where you can help support Coin
• 43:24
  Shop Chris, because he does a tremendous amount for this
• 43:28
  channel. So does Jake, So does Annie.
• 43:30
  So does Mary. So does Neil.
• 43:33
  So does. If I forgot somebody, I
• 43:36
  apologize and I'll see you guys soon.
• 43:40
  Thank you.