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🚀 SILVER Price 🚀 Prepare for THIS! (MAJOR NEWS)...Gold Price Too! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
$30 Silver by Friday, a new Silver record.
0:07
Did you know that we've got a new world record in silver?
0:11
We're going to talk about that. A special Silver Squeeze guest
0:15
will be joining us. Guys, the Silver Squeeze
0:17
movement is starting to pick up a little steam again.
0:20
So we're going to play close attention to that because we
0:24
know the demand for silver in the West has been so subdued.
0:28
Any increase could result in an overwhelming demand for the
0:33
amount of retail silver that's out there.
0:36
I talked to two industry insiders, I'm going to share
0:39
that information with you as well.
0:40
Look, we got a lot to cover. I'm going to, I'm just going to
0:43
dive right and thank you for being here.
0:44
Basement dwellers, what does it mean that these live streams are
0:49
growing and growing? Like 1520 thousand people have
0:53
been watching these live stream events.
0:55
Now I'd like to think that's because of my good books and my
0:58
keen sense of wit and humor. But you know, the real reason is
1:02
because more and more people are waking up to silver and gold.
1:06
But there's only one person who's important right now, and
1:10
that's you. Because without a bunch of US's
1:13
yous, we wouldn't be doing this. So thank you for being here.
1:18
Silver over $30 has very little overhead resistance.
1:24
A few of you have asked me to go back to the chart.
1:26
So let's go look at this chart and talk about what we have to
1:30
be very excited about in Silver. This one comes from our friends
1:34
at Investing Haven And make sure we got that on.
1:39
Yes, we do 50 year chart of silver.
1:42
Do you see the big cup? I'm supposed to make my cursor
1:47
bigger. I'll do that next time.
1:48
There's the big cup going back to 1980.
1:51
There's the handle. What's so crazy?
1:54
OK, we're focused on the handle right now.
1:57
We already got the cup, now we're focused on the handle.
2:01
And when that handle breaks out, that's when we're hearing about
2:04
$100 silver, $120.00 silver. But what does it mean to you
2:09
that within that handle? And look, I'm not a big
2:12
technical analysis chart guy. I will have a video coming out
2:15
very soon with John Roland from Bar Chart.
2:18
He is the technical analysis chart guy guru and he'll go over
2:23
a lot more of this in great detail.
2:25
Make sure you watch that video. But what's interesting about the
2:28
handle, hey basement dwellers welcome to the handle.
2:32
Is that what that's where it breaks out And within this
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handle you can even see another little cup and handle.
2:40
Are you seeing that? And if we were able to zoom in,
2:44
this is where it gets even more exciting.
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In this area. Right here.
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OK, right here. That's what's called an upside
2:51
down or inverse head and shoulders, which is in the
2:55
process of breaking out. So you can have, I didn't
2:58
realize this and John Rowling goes into like tons more about
3:01
this, but you can have cup and handles within cup and handles.
3:06
You can have inverse head and shoulders within cup and
3:09
handles. You can have a 50 year cup and
3:12
handle pattern that has both an embedded additional cup and
3:18
handle and inverse head and shoulders.
3:20
It's getting very exciting. Are you excited?
3:23
Are you feeling it right within the silver and gold community?
3:27
Absolutely crazy. OK, What does it mean to you
3:31
when we hear new record for Silver, right.
3:35
I get excited. It makes me very happy, right?
3:37
This whole idea of a Silver Squeeze, we know there's a
3:41
copper squeeze that went on. Is it soon going to happen in
3:44
silver again? Any minute now I'm going to have
3:47
a special guest on somebody who I think knows more about Silver
3:51
Squeeze and and you'll understand why when you see him.
3:54
But, but let's first go, let's talk about World records in
3:58
Silver. And don't forget we also have,
4:02
we also have some insights from the street right from bullion
4:06
dealer insiders about what's going on right now in the West
4:10
with purchases of gold and silver.
4:12
Here we are again, our old friend Baijung, the Oriental
4:16
ghost guys. We have a record in silver.
4:20
This is market data from yesterday from the Shanghai Gold
4:23
Exchange and the Shanghai Futures Exchange.
4:26
Silver on the Shanghai Futures Exchange hit.
4:30
What does it mean? What does this mean to us?
4:32
Hit the highest closing price, the highest closing price during
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daytime trading since its opening in 2012.
4:42
Look at these prices. This is what physical silver
4:47
cost in China $32.63, right? And then on the futures market
4:52
$32.68, look at the change in the vaults right down right.
4:58
The silver is getting drained. We know the the amount of silver
5:01
in the vaults in the COMEX and the OBMI, the London Bullion
5:06
Market Association in London, England.
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Those fine chaps are down as well.
5:11
But the silver's being drained out of the vaults in China.
5:14
What is this telling us, right? I mean, come on, you don't have
5:17
to be Albert Eisenhower to figure this one out, guys.
5:20
OK? Supplies going down, demand is
5:23
going up. The price for physical silver is
5:25
up and right down here in red because it is a record.
5:30
And it does bear repeating silver on the Shanghai Futures
5:34
Exchange or the Shanghai Futures Exchange hit the highest closing
5:39
price since its opening in 2012. Yes, if our math is correct,
5:46
right. We can, we can figure out the
5:48
the national debt and deficit. We know how to work a
5:50
calculator. The highest price since 2012
5:54
would be the highest price in 12 years.
5:57
And there's something significant about that number 12
5:59
besides it being a a a dozen. OK All right.
6:03
Let's talk about. I talked to what do you think I
6:06
heard? I reached out.
6:08
I got curious. Do you get curious?
6:09
All right, We know silver buyers are goofy.
6:13
They buy more silver when the price goes up.
6:16
They don't buy it when it's on sale.
6:18
They buy it when the price goes up.
6:19
So I reached out to a couple of my contacts.
6:21
The first guy that I talked to, let me read this text to you.
6:24
You may recognize this character.
6:27
He's a friend of the channel and his name is Coin Shop.
6:33
Chris. OK.
6:34
And I asked him, Chris, what are you seeing?
6:36
He said yes, Ronnie, you're the greatest guy in the world and I
6:40
love you. No, he he didn't say that.
6:42
Yes, people are buying and I'm thinking the ones who are buying
6:47
are the ones who had said they were gonna wait for $17.00
6:51
silver. What he's observing is it's
6:53
those people that said, well, I'll buy silver if it goes to
6:56
17, I'll buy silver if it goes to 18.
6:59
Now they're panicking. They're foam owing.
7:01
Silver and gold are the biggest FOMO products in the world.
7:05
Fear of missing out, OK, he says.
7:09
This is interesting. Both these contacts of mine said
7:12
this dollar cost averaging is the best way to go.
7:16
Buy a little bit every month. Buy a little bit every three
7:19
months. Buy a little bit every week.
7:20
Buy a little bit every day. But don't buy it all at once.
7:23
And don't fall for FOMO because everybody else will, right
7:27
Benefit from FOMO. Don't fall for FOMO.
7:30
Nonetheless, there's some unsolicited financial advice for
7:35
you. If people wait to get silver or
7:39
gold at one price, they may wind up waiting forever and end up
7:45
with nothing, right? These people who say, well, I'll
7:48
buy gold if it goes back to 1800, I'll buy silver if it goes
7:52
to $21.00 an ounce, whatever the case may be, you may never get
7:55
it. You might, right?
7:56
Nobody knows. No crystal ball, but that's what
7:59
he's seen. Now, a lot of these people who
8:02
were saying I'm going to wait till silver goes down, I'm going
8:04
to wait till gold goes down. Next, I talked to a guy who's
8:08
selling a lot of silver and gold bullion online.
8:13
My friend M1 of the founders of Pimbex, Pi MB EX, the online
8:18
bullion dealer. Right.
8:19
If you want to get your hands on some silver, gold or platinum,
8:22
I'm going to tell you what Mike said.
8:24
But first I'm just going to give a little recommendation.
8:27
Check out Pimbex next time you're shopping for bullion
8:30
online. OK, I worked with them before
8:33
they sponsored Ron's basement. I checked them out for myself,
8:37
right? You guys told me about them, but
8:38
I checked them out for myself. What I found right The best
8:41
prices, great selection, and awesome service.
8:44
A company I can trust. You may want to check them out
8:46
as well. pinbex.com. Now what did Mike say?
8:51
He said, Hey Ron, I'm just going to read you what he said here
8:55
and let let you into a little private discussion through our
8:58
recent discussions with new and returning customers.
9:02
A handful are definitely piling in for the impending potential
9:07
moon shot. But even more commonly, these
9:10
customers have zero trust in the inflated dollar and simply want
9:15
out of Fiat. Our regulars, the dollar cost
9:17
average like Coin Shop Chris said, seem generally unfazed and
9:22
have continued with their normal purchases.
9:24
Some have even stepped up the order size.
9:27
As prices climb, we also notice a shift towards more cost
9:33
effective metals such as gold and Silver Maples, cause the
9:36
Canadian bullion products have generally lower premiums and
9:40
generic rounds and bars. That's what I've always said.
9:43
When you know, demand skyrockets and I'm buying, I'll buy bars
9:46
'cause they're the best deal going.
9:48
These markets are exciting and it's easy to get swept up in the
9:52
mania. Great advice here from Mike, but
9:55
he says but always remember to keep a level head and invest
10:01
prudently. So what we're seeing is an
10:03
uptick in buying as the price goes up.
10:05
Now I want you to imagine something with silver.
10:08
Let's focus on Silver, because we're talking about the
10:11
potential for a silver squeeze, right?
10:14
If silver goes above 3132, which I expect we could see, if we're
10:20
going to see it soon, it's going to be soon, it's going to be in
10:22
the next two or three weeks, It would set up a whole new wave, a
10:27
whole new wave of people rushing in for FOMO.
10:31
Because guys, there's no resistance up there.
10:35
Very little resistance. Very few people who are waiting
10:39
for 3435 third would pick your price anywhere in the mid to
10:43
upper 30s. There's nobody who do you know,
10:47
I'm asking you a question. And what does this mean?
10:49
More importantly, who do you know, who's saying, well, I'm
10:52
waiting for silver to get the $36.00 so I can sell it.
10:55
You don't know anybody Saying that are very few, few, few and
10:59
far between people. And what does that mean?
11:02
That means there's nobody going to be wanting to sell their
11:05
silver, right? Because when things go to new
11:07
high and it's essentially in anything over $32 in my book,
11:11
then the Ron basement book, I've erased all those other those
11:14
little quick blips up to 50. They don't matter.
11:17
Anything about $32 is a new all time high.
11:20
And there's gonna be very few sellers, right, And a lot of
11:23
buyers. And that means you're gonna go
11:25
to your local coin shop, you're gonna say, oh, I'm gonna get me
11:27
some silver before it's all gone.
11:29
Well, guess what? You're too late buttercup.
11:31
It's all gone. Potentially.
11:36
Don't make any financial decisions based on anything I'm
11:39
saying. I'm just giving you my expert
11:41
opinion, my amateur opinion. OK, That's what I see happening.
11:46
OK, all right. Oh, well, well, well, wait,
11:49
wait. This.
11:50
This is where it gets crazy. Let's look at a crazy chart, A
11:53
fun chart. Probably the happiest chart that
11:55
any of us could look at. It comes from our friend Pavi
11:59
Costa. OK, this, my friends.
12:03
This is absolutely crazy. A chart showing gold, OK?
12:08
And gold miners. And this is the same situation
12:11
with silver, OK? Even probably more exaggerated.
12:15
That's a secret. I got another secret for you
12:17
later. And we're supposed to have a
12:18
guest here any minute now. We're waiting on him.
12:21
He'll be here. This.
12:23
This is a secret, OK? It's even more exaggerated in
12:27
silver. And when you look at this chart,
12:28
you we we can just sit here for the next 45 minutes and look at
12:32
this chart and our smiles would get bigger and bigger.
12:35
You might break your cheekbones. You'd be smiling so much gold
12:39
and gold miners as a push as a percentage of total global
12:44
assets. I almost can't believe this
12:47
chart, but Toby Costa is like, one of the smartest, most
12:49
reputable. He's the bomb in the world of
12:53
silver and gold and in the world of precious metal mining stocks.
12:58
OK, right now, 1%. What does that tell you?
13:04
What clue do you get from that? I'm asking you a question, 1%.
13:10
Oh, sorry, Susie. I forgot to turn on the walkie.
13:12
There we go. Susie, you got a copy?
13:18
What does that tell you? Susie's there.
13:21
I need my Susie 1%. What does that tell you?
13:25
1% of the world's assets are in gold and gold miners.
13:31
And. And he said, well, big deal,
13:32
Ron. No, guys, what is?
13:33
Look at. Look to the left.
13:36
See that Big Blue line? Right.
13:38
Hold on Here, let me pull this up.
13:40
I'm having a hard time reading it.
13:43
Here we go. Right.
13:44
See the Big Blue lines. See the nineteen 8126%.
13:49
Correct me if I'm wrong, but does that tell you that in 1981
13:53
there was 26 times the amount of money and gold and gold miners?
13:58
And again, this is more crazy. In the world of silver, I
14:01
guarantee you 1948, thirty percent, 193220 percent, 1921,
14:07
almost 30%. We could just mic drop, we're
14:11
done. We don't have to look at
14:13
anything else. This chart to me is just
14:15
absolutely probably some of the best news that we could ask for
14:19
as precious metals investors. But it gets even more
14:23
interesting when we talk about these mining stocks.
14:25
And let me just bring this over, that's the GDXJI mean.
14:30
Look at that chart. That's a 15 year chart.
14:33
Does that indicate to you that the gold mining stocks have
14:36
reacted to the higher prices in silver and gold?
14:40
No, no, no, no. What is that telling us?
14:44
OK, let's go real quickly at this one, which is the I can't
14:48
see 'cause it's got my thing is that the G that's the GDXJ,
14:52
here's the Huey Index, right? The Huey Index is the gold Bugs
14:55
Index. Those are the like the 12.
14:58
I think it's the 12 or 16, one of those two biggest gold mining
15:01
companies that aren't hedged, that are exposed to the metals
15:04
prices. That's a ratio.
15:06
This compares the value of those stocks to an ounce of gold.
15:10
It is at an all time high. If you look at this chart right
15:15
now, just to get back to where we were on average over the last
15:19
10 years, mining stocks would have to double.
15:22
If you go back 15 years or even further, mining stocks really
15:26
need to go up four or five, even six times in value.
15:29
So it's absolutely crazy. All right.
15:33
OK, Let's go look here. Let's look at you.
15:35
Let me look at you. OK.
15:37
Thank you for being here. 500 people on what is today,
15:40
Thursday, Thursday, the 16th of May.
15:43
It's a big deal. You're here.
15:45
Thank you for being here. Please give this a thumbs up.
15:47
I'll put out a new piece of content every single day about
15:51
silver and gold. You can be a basement dweller.
15:53
You can join our club. It's free.
15:55
All you got to do is subscribe. And thank you in advance for all
15:59
the Super chats. They are super appreciated.
16:02
Toby, though, had something else to say.
16:04
I want to. I want to hear.
16:05
I want to see what you feel about this.
16:07
Here he is. That's Tavi Costa.
16:09
I'd subscribe to him on Twitter. He's from Brazil.
16:12
This guy is super. He's like the sharpest knife in
16:16
the drawer. Besides you, of course.
16:18
Right? I know, right?
16:20
Your Mama loves you. I love you.
16:21
But Tavi is very, very smart. He's sharper than me.
16:25
I'll put it that way, he says. Current state of the precious
16:28
metals industry. Gold.
16:30
Green check mark. Copper, right.
16:32
Have you know copper has been hitting all time highs?
16:36
Green check mark. Silver in progress.
16:40
I know a lot of you are like me, big fans of physical silver.
16:44
Guys, I got a little news for you.
16:46
OK, what do you think when you hear that copper has hit all
16:51
time highs? Copper just had a squeeze, Even
16:55
Bloomberg reported on it. What does that tell us about the
16:58
potential for silver, which we know has even more extreme
17:04
fundamentals behind it, right. It means that silver can squeeze
17:09
as well. Absolutely.
17:11
All right, silver in progress. Miners are waiting then, Toby
17:15
says. For those frustrated with the
17:17
wait, here's a reminder. Every gold cycle we have
17:21
witnessed resulted in a major bull market among the miners
17:25
mining investors. The lag is your friend.
17:28
Could this be a great time to be buying pressure?
17:32
Oh, I got a super chat. Thank you, Susie.
17:34
Is this a great time to be buying?
17:36
Thank you, Don Howe. How do you do, Don?
17:39
Don Howe, nice to hear from you. Is this a great time to be
17:45
buying mining stocks? What do you think if you think
17:49
so? Look mining stocks are risky,
17:51
any investing is it is risky. But a couple companies you might
17:54
want to check out. Our channel sponsor first mining
17:57
Gold, Canadian Gold development company with two multi million
17:59
ounce projects in Canada, Duparque in Quebec, spring pole
18:04
in Ontario. These are massive projects, OK?
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And they have four other projects that they own a
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controlling or some degree of interest in, all in Canada.
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You can learn more about them at firstmininggold.com.
18:16
And if you ever want to talk to a really great friendly guy, you
18:19
can reach out to Paul Morris, their Director of Investor
18:21
Relations. His e-mail address is in the
18:24
description of this video. And of course, our good friends
18:27
at Fortuna Silver that for the almost the last 20 years have
18:33
been have been building a company that's becoming a real
18:36
juggernaut in the Silver and gold sector.
18:39
You can learn more about them at fortunasilver.com.
18:44
It's getting interesting, guys. It's getting interesting.
18:47
I think my guest, unfortunately might be having some technical
18:51
problems. OK, hold on one second here.
18:54
Make sure we got them up. I'm waiting to hear.
18:57
All right, here we go. Oh, you want something funny?
19:01
This is great. Susie requested that I send
19:04
this. So hold on here just one second.
19:06
I'm going to share something with you.
19:10
Oh, where is it? Here it is.
19:12
Hold on. It's going to come up.
19:13
Don't you worry. Let me go back here.
19:17
And here we go. Oh, yeah.
19:21
I'm getting one ready for you. Don't get ready.
19:23
Don't fall out of your seat on this one.
19:25
But one of our basement dwellers, apparently this was on
19:29
Twitter. Either that or we're becoming
19:31
very famous. Put this on Twitter.
19:36
That's the Someone defaced the US dollar electronically.
19:40
But hey, it's all electronic now anyway.
19:43
I think that's a Unicorn farting Unicorn fart dust.
19:46
And you know, we can joke around about that, but the reality is,
19:49
that's really, really sad, OK? That they've done this to our
19:54
dollar. Gosh, Almighty guys, right.
19:58
Gosh almighty. Let me, let me remind you of
20:00
something. Let me remind you something very
20:03
important. OK.
20:05
Here, this is this a dollar, is this AUS dollar.
20:12
Look real closely. Look at the top, OK.
20:18
It says it's not coming in focus.
20:20
Silver Certificate right redeemable.
20:24
For silver at any bank, it didn't have to be that way.
20:28
This one even feels different. This one doesn't say that.
20:34
No, that's just a good old United States dollar based on
20:37
nothing but Unicorn fart dust. But we know, we know, right?
20:42
That when we had our dollar based on silver, we had much,
20:49
much better times. What does it mean?
20:52
It gets better and better, guys. What does it mean?
20:55
This is a big story yesterday. Have you heard the big story,
20:59
the big breaking story in the precious metals world when a
21:03
legendary investor, somebody who everybody says, oh, this guy,
21:07
he's the, the, this is the guy that made millions, millions of
21:11
dollars off the great financial crisis.
21:14
He predicted it. He predicted the downfall of the
21:18
mortgage-backed securities. He's a guy that everybody
21:21
worships. He's legendary that he's buying
21:24
gold and buying a lot of gold. Did you hear this story?
21:27
Let's go out to that one right now.
21:31
And here we go. Here we go.
21:38
Here it is. Michael Bury remove.
21:42
OK, hold on a second. I'm getting, I'm getting hit by
21:45
6 different things here, guys. Michael Burry, There he is.
21:54
He's the guy. He's, there are people.
21:57
This is what's interesting. Let's go here.
21:59
First, this is on Twitter. Michael Burry, stock tracker.
22:03
There are people that have Twitter accounts that do nothing
22:06
but track what this guy does. OK, Michael Burry is officially
22:10
bullish on gold. This is big news guys.
22:13
He just disclosed a brand new brand new 7.6 million buy into
22:20
the Sprott Physical Gold Trust Phys.
22:23
Now remember the Sprott Physical and they also have PSLV for
22:28
silver. Sprott actually owns all the
22:32
metal. It's very there's a very big
22:34
key, what a lot of people say difference between the Sprott
22:38
ETFs and actually in Canada they're called trust and they're
22:42
called units, but nonetheless, it's completely backed by
22:46
physical metal. Do you think that's why Michael
22:48
Burry bought the Spratt product? Right, not GLD, the BlackRock or
22:53
or SLV, the BlackRock products that some people claim.
22:57
Maybe there's a little bit of a question whether they really do
23:00
have all the silver and gold that they purport to the public
23:04
to have. But none the less, Michael Burry
23:06
is a big shot. Michael Burry is legendary.
23:10
Michael Burry strategic has a strategic emphasis on Sprott
23:16
Physical Gold Trust in Q1 of 2024.
23:21
Insight into Michael Burry's latest portfolio adjustments and
23:25
market market moves. He's the renowned investor
23:28
behind Scion Asset Management has made notable changes to his
23:34
investment portfolio in the first quarter of 2024.
23:38
Look, here's a guy who's a legend.
23:42
Here's a guy who made notable changes to his investment
23:46
portfolio. Oh, and by the way, what big
23:49
clue do we get when those notable notable changes included
23:53
a move into physical gold boy Michael Burr.
23:56
He's kind of like the like the world central banks.
24:00
And don't forget basement dwellers, we right?
24:03
To the extent that you invest in silver, gold and even the
24:08
precious metal mining stocks, you may not agree with me on
24:10
this. But like when I own and I own
24:12
the stocks that I'm sponsored by.
24:14
Let's first mining gold and Fortuna.
24:17
I consider like the my ownership stake in those companies that
24:21
that then I also own some of that gold and silver that's in
24:25
the ground. We can be our own central banks.
24:27
Michael Burry is his own central bank.
24:29
Welcome Michael Burry to the basement.
24:32
I think there's about a 0% chance that we can get him down
24:35
here on a interview. But we'll try.
24:37
Michael Bury, you're invited. You can't come on down, Talk
24:40
gold. Tell us why you bought gold.
24:43
Let's just read this real quick. There's if you look down here,
24:47
there's Michael Bury. Those are all of his
24:49
investments. And right there is his new
24:53
position and Sprott physical. But listen to what they say
24:56
here, OK? Michael Bury's portfolio saw the
25:00
addition of five new stocks in this quarter, notably at the top
25:04
of the list. Sprott Physical Gold Trust
25:07
emerged as the top new holding with 440,000 shares representing
25:15
a little over 7% and valued at $7.6 million.
25:20
Wow, crazy times. I'm telling you what we are in
25:24
for some crazy times a Symphony. Let's let's go.
25:29
But we we, we. It wouldn't be a it would not be
25:33
a live stream if we didn't talk about the latest and breakest
25:38
latest and greatest breaking news from China.
25:43
Hold on here just to get an idea of what is going on right now in
25:49
China with gold and it is absolutely crazy.
25:52
This comes from the Hindu business line.
25:56
So this is from an eastern country.
25:57
This is from a BRICS country. OK, China gold reserves went up
26:02
for 16 months. We know that already.
26:04
Central bank bought. But this is what's interesting.
26:07
This is where there's a big massive difference in terms of
26:11
what's going on. OK, sample this a small jewelry
26:16
shop in Shubai Jewelry Park in Shenzhen, China.
26:20
This is 1 jewelry shop, OK? Susie tells me.
26:26
I'll bring the cowbell here in a second.
26:28
What's key here, guys? This is 1 jewelry shop in one
26:32
city in China. OK?
26:35
They sold over 100,000 pieces of 24 karat gold beads in the past
26:42
six months. Each bead made from pure gold
26:45
weighed about 1.2g. If the total weight of the sale
26:51
of these beads is taken into account, then 3863, not 64 Troy
26:59
oz or 120kg of gold have been sold from that one shop alone.
27:07
OK, Eric Young, he's a really a smart guy and he's active on
27:12
Twitter, posted on on on X Gen. Z.
27:17
And China is buying small 24 karat gold beads.
27:20
They are collecting them with a portion of their paycheck every
27:22
month. This isn't just a transaction,
27:25
but a Symphony, OK, of aspirations, he wrote.
27:30
It's just crazy. Absolutely crazy what's going
27:34
on. And I thought this was a great
27:36
chart showing China. Hold on here, let's make this so
27:40
you you want to see this a little better?
27:42
I bet you do. Let's see if I can do that for
27:45
you, Basement dwellers. There we go.
27:47
This is from the World Gold Council.
27:49
So there's it's. I got something else for you
27:54
with in regards to China. OK.
27:56
But this shows Chinese consumer demand, OK.
28:00
Right now, right. I mean, we are with the
28:03
unbelievable amount in tons of gold, that's 2023.
28:09
I believe that we could be all the way up here in 2024 that we
28:13
could hit the 1200 amount in tons.
28:17
What's interesting, did you know this?
28:19
There's a little secret though about China and gold, OK, a
28:23
little secret. See if I can find it.
28:26
Shift in pricing power. Darn it.
28:30
The secret is the secret about China.
28:34
And gold is number one, right? The country is selling their
28:38
U.S. Treasuries.
28:38
We know that. OK, that's not the secret.
28:41
The big secret is China also is actually importing and buying a
28:47
lot more gold than what they're officially reporting, some
28:52
people are saying. I mean, I heard one person say
28:56
they thought that maybe China bought the equivalent of 2/3 of
29:00
the world's mining production last year.
29:02
Now look, some of the gold they bought didn't come from new
29:05
mining activities, but still, just that amount alone is
29:09
overwhelming in terms of what's going on right now with China in
29:15
the in the gold market. OK, 600 basement dwellers.
29:19
Oh, I got to ring the cowbell bell warning.
29:21
OK, some people get real angry about the bell, so I'll do it.
29:25
And here we go. All right, guys.
29:33
Awesome. Thank you.
29:34
That's for 200 thumbs up. It gets better and better.
29:38
OK, It gets better. Silver and gold are breaking out
29:44
right now. OK, Not for one reason everybody
29:47
wants. Have you noticed that?
29:48
What is that? Does that kind of bug you a
29:50
little bit? Everybody say, oh, it's because
29:52
of this. Oh, it's because of that.
29:53
Why is gold down today? Why is silver down?
29:56
You know, let's go look. I'll tell you why.
29:58
Let's go look real quickly. That's why.
30:01
Oh, OK. Thank you, Susie.
30:05
Here, Susie, why don't you quickly say hi to everybody?
30:08
Hi. Everybody, thank you for being
30:13
here. We really appreciate it.
30:16
Bye. Bye.
30:16
Thank you. OK, it might be time for me to
30:20
turn her volume down. Where was I?
30:23
OK. Woo.
30:25
Oh, why is gold down you're asking?
30:27
Oh, here. Hold on, guys.
30:30
Here we go. Hi.
30:32
Welcome back to the basement. I hope you.
30:34
I really do hope you feel at home when you're here.
30:37
Ask yourself a question. Do you love silver?
30:40
Do you love gold? Well, if you do, you found a new
30:44
friend. Not just me as well, but the
30:46
other almost 700 people that are joining us right now from all
30:50
over the world. Doesn't matter where you are.
30:53
OK. You can come to the basement.
30:55
We hang out. We love to talk about silver and
30:57
gold. You.
30:58
Were going to check the prices on pin back.
31:00
Yes, thank you, Susie. Well, I'm getting a lot of
31:03
directives today from my wonderful wife, Susie.
31:06
But you're always welcome here in the basement.
31:08
I got a secret for you. OK.
31:10
When I moved into this house, I was single.
31:12
Susie moved in. Let me tell you what happened.
31:15
She started taking over. I had an air mattress in the
31:17
family room and I slept on. Suddenly she brought furniture
31:20
into the house and she was taking over, decorating,
31:24
painting walls, when you name it.
31:26
Right. Finally, I put my foot down and
31:28
I said, any room with a concrete floor I'm in charge of.
31:32
That includes the garage, the screen, dim porch, and the
31:36
basement. Well, she's kind of like NATO.
31:39
She kept expanding. She took over the screen, dim
31:41
porch from me. But I still have control of the
31:43
garage in the basement. And you, my friends, are always
31:46
welcome here in the basement. And Susie wants me to check the.
31:50
I will. We'll go out to pin backs and
31:52
check the price of gold and silver.
31:53
One second. Right?
31:54
Now we want to check why is why? Well, why were they down?
31:58
And you know what everybody says, oh, it's it's because of
32:00
this. Here's why.
32:02
Here's why. OK, this is quick.
32:05
Oh, because the dollar went up. The DXY index.
32:08
Well, it's coming back down now. It's such BS.
32:12
This is your. This is the.
32:13
This is this is double Unicorn fart dust Land is exactly what
32:19
this is. This is comparing the US dollar
32:22
to a bunch of other crappy currencies, the yen and the
32:25
euro. It makes me mad, right?
32:27
Don't we don't. We don't.
32:28
We don't. Why are we talking about the
32:31
price of gold? And so we want to cost about the
32:33
number of Oz that we own. But nonetheless, this is double
32:37
Unicorn fart dust, right? Because not only are we is it
32:39
looking at the dollar, which is nothing paper, right?
32:43
Remember, they took that thing off that little statement that
32:46
said you could redeem it for silver.
32:48
They took that. They erased it, and it's
32:52
comparing it to a bunch of other Unicorn fart dust.
32:55
Currencies. Japan.
32:56
Are you kidding me? Japan's a joke, all right?
33:00
They're worse shape than we are. Europe, Europe's a joke.
33:03
It's all a big joke. OK?
33:05
We don't care about it. But that's why they have the the
33:08
dollar value of gold and silver were down earlier.
33:11
Well, now Susie says they're not down so much, and she's always
33:14
the bearer of good news. But we'll see how the day plays
33:17
out. OK.
33:19
My our special Silver Squeeze guest ran into some problems and
33:24
probably is not going to be able to join us.
33:26
Let me double check just to make sure we're not getting messages
33:31
or anything like that. Hold on one second here.
33:33
Metal seer for Super Chat. Thank you Metal seer for the
33:41
Super Chat period. Are you joining the live stream?
33:45
Question mark. Hope everything's OK.
33:50
OK. All right, guys.
33:53
OK, so, so don't worry. I have something very
33:58
interesting for you. I want you to think about this.
34:00
OK. There's a secret that nobody
34:04
talks about, right? But, but somebody told me a
34:08
secret last night about what's going on with the Fed and with
34:13
the current administration and what this, how this might play
34:18
into what we see over the next six months.
34:21
I'm going to lay this out for you what we can expect right out
34:25
of the Fed and not us, 'cause we know the Fed's just a bunch of
34:30
noise and everything else, but it will have a major impact on
34:33
the silver price and the gold price.
34:35
And my expectation is that this is going to be.
34:37
A very super chat please. OK, hold on.
34:42
I need to say thank you to some people.
34:44
Then we're going to get back to the secret.
34:46
All right, here we go. Silver Surfer, Thank you for the
34:50
Super chat. Silver is the king of money.
34:53
That's why it is up while gold is down.
34:56
We love silver. We love gold too.
34:58
No doubt about it. OK, No doubt about it.
35:01
All right. And our friend Metal Sear Metal
35:06
Sears says silver 2967.4. Soon over $30 gold to 2383
35:13
headed up. Yes, I believe that's the
35:15
futures market, guys. I said on Sunday that I thought
35:18
by Friday we would have $30 silver.
35:21
I said there was like a 64.6% chance you can go back and check
35:25
me on the live stream, OK. This old supercomputer is right
35:29
every once in a while, and it looks like we got a good fair
35:32
shot at that being the case. OK, one of the viewers
35:35
challenge. What John waiting?
35:40
In. Screen yard.
35:43
The waiting room. He is.
35:44
No, he's not. Tell him to tell him to add.
35:47
Tell him to add himself to the stage.
35:49
Excuse me. Tell him to add himself to the
35:55
stage or to enter the enter the studio.
36:00
Sorry, sorry guys. We're having we're having some
36:02
technical problems. Bear with us.
36:04
We're going to get our guest on hold on.
36:07
We're going to make a live phone call and see if we can figure
36:11
out what's going on here. The person you are calling
36:19
cannot accept. Calls at this.
36:25
Time he can't accept. Oh, there he is.
36:27
He's here. OK.
36:29
Hey, guys, thanks for sticking with us.
36:30
We got a special guest. The the guy that I think could
36:34
give us more insights than anybody.
36:37
I'm so excited on the on well, the potential for a silver
36:42
squeeze. OK, you're never going to guess
36:45
who it is. He's a fan favorite.
36:47
Even my mom, my mom watches the live stream.
36:50
She's like, that's my like your favorite guest that you have.
36:52
No offense to any of our other guests.
36:54
She loves them as well. But let's get him on here.
36:56
Hold on. Let's add him to the stage.
36:59
I need to put on my earbuds all right and hello John.
37:05
Hey, what's up? I'm in.
37:07
I'm not in the basement. I'm close though.
37:09
Ron, I'm going to talk to you about $20,000 gold in China.
37:16
But whatever you want to talk about, I'm really a big fan of
37:19
your basement dwellers. And I've been in the waiting
37:24
room. I didn't know I was supposed to
37:25
hit a button that. And no problem, buddy.
37:28
We're we're really glad you're here.
37:30
And on behalf of all of our viewers, we've got almost 700
37:33
people right now. Thank you, John.
37:35
And as I introduced you, really, you're a guy who in my opinion
37:39
has his hand on the pulse of what's going on in the silver
37:43
and gold market around the world as much as anybody.
37:47
And when it comes to talking about the potential for a silver
37:51
squeeze, I mean, you know you're involved with Wall Street Silver
37:55
on Reddit, right? You're involved with the Silver
37:57
D Gen. Club.
37:59
John is also a an accomplished writer and author.
38:04
He's got a great sub stack. I always have a link to the
38:07
Silver Academy sub stack and every one of my videos and live
38:11
streams. I use you.
38:12
I use information I get from you probably at least four times a
38:17
week, and I know you've given me permission to do that during my
38:19
live streams because you put out the good info.
38:22
I'm going to shut up. I would like to hear from you
38:24
about whatever you want to talk about, 'cause you've got
38:27
insights like nobody else about this $20,000 gold.
38:31
And get A and then I want to get a feel from you about about Am I
38:36
crazy? Feeling like the Silver Squeeze
38:39
movement is getting a little bit of Second Life.
38:41
Yeah, that's great way to look at it.
38:44
Thanks for having me on. And I would say there is a
38:48
revival. I think it was fueled recently.
38:52
In fact, today Mr. Putin visited with Jinping and they traded
38:58
bilateral documents. Meaning it's the playbook that
39:02
Serge Iglassieov, the Russian economist authored of 1G of gold
39:07
for a barrel of oil as a way to trade outside the swift
39:12
sanctions, the self-inflicted wound of the you know, the
39:16
regime and the really piss poor foreign policy.
39:20
So when you mention, I just heard you talking about King
39:24
Kong on Twitter and these shops in China selling out of gold
39:29
beans, you can think of it this way when Gen.
39:32
Z who's basically locked out of the economy in the United
39:36
States, right, there's there's no affordable homes, they're not
39:39
buying equities. But in China, the leadership is
39:42
telling their people even through Tiktok to stack these 1G
39:47
at a time. You can almost look at that as a
39:50
barrel of oil you which you couldn't strap on your back,
39:54
right. So it's just a smart strategy
39:57
for these kids to start accumulating wealth.
40:00
And what we're seeing like for instance in India of all places,
40:04
just for Q1 of 2024, they bought more silver than they did all of
40:10
2023. So once this thing gets legs and
40:14
we always said I think it was Peter Schiff who said or it
40:17
could have been Doug Casey that once we see this momentum shift,
40:22
it would be like trying to take the contents of Hoover Dam,
40:26
which is Lake Mead, I believe through a garden hose.
40:30
In terms of that sort of what we're what we would say is
40:35
unavailable and the silver squeeze now in US it's sort of
40:39
nothing. It's, I mean we don't like to
40:41
say that because of I I have to answer to 270,000 retail apes.
40:46
But I think we needed their leadership first as the spark
40:52
because we were just chopping sideways for you know 3 three to
40:56
four years. And today I just read in
40:59
Shanghai, the market just closed a couple hours ago.
41:02
It closed out at 3263 silver. And that's a physical market,
41:08
that's a more. It's it's much more legitimate.
41:11
And what they were learning is they can buy more oil through
41:15
their gold proxy than they could before in London or in New York
41:20
with the US dollar. So since everything we do in
41:23
life is run by oil, why wouldn't you do that?
41:26
Why would you use. They're also looking at the
41:30
toxic orbit of the US dollar. It's being tethered to $34
41:34
trillion debt. It's enmeshed in I don't know
41:37
how many wars right now service on the debt is what the largest
41:42
line item in the US budget and the way they're dumping U.S.
41:46
Treasuries throughout Bricks Plus Plus, which is 70% of the
41:50
world, these where these treasuries gonna come washing
41:54
back Ron. But can you guess where they're
41:58
coming, Ron? They're gonna come back here and
42:00
that will create more inflation, right?
42:02
And that'll mean the Fed will have to buy them and monetize
42:04
the debt sooner. And I gotta go, 'cause I need to
42:08
run by some silver or gold after I listen to you for.
42:10
The last time this is your. Live stream now I'm taking off.
42:15
Now let's add to the story. There's no new discoveries of
42:18
Silver at all. It get.
42:20
Then it gets worse. The number one country in the
42:23
world has always been Mexico by far.
42:26
So their new secretary, Environment, Miss Maria Luisa
42:31
Alborz Gonzalez. She's not allowing any more
42:35
mining. She's got a very I follow her on
42:38
Twitter and all you see are pictures of Los Alamales, the
42:43
environment. She's not, you know, so they're
42:45
down 27% in just nineteen months then.
42:49
Moreover, you know you're looking at, let's take copper
42:54
just yesterday, it's it's been on a tear or two.
42:58
It's up 25% since the beginning of January.
43:02
And guess what, in Panama, the largest mine, one of the largest
43:05
mines in the world is shut down. It's called La Cobre and it's
43:09
run by Quantum Materials out of Canada.
43:11
So we're seeing more jurisdictional risk, no
43:15
discoveries. And with this demand from
43:19
aerospace, military and solar just reached a TB.
43:25
So let's remember what that is. That's 1000 gigawatts each GW is
43:31
500,000 ounces of silver. So 1000 * 550 million oz, excuse
43:40
me, you know, no 550,000. So now we're over 5, almost a
43:47
year supply 550 million oz, which is almost one year of
43:52
mining and that's just solar. And Solar's not even is in 3rd
43:57
place behind Aerospace. So, so and and and I want to
44:00
repeat this for our listener, for our basement dwellers, many
44:04
of them are silver stackers. Hold on to that silver that you
44:07
have, because what John just said is that Mexico, the world's
44:10
biggest producer in silver, that over the last few years, the
44:14
amount of silver being produced in Mexico is down by, what,
44:18
2728%, right? That's a big deal.
44:22
Now I want to ask your opinion on this, John, 'cause I think
44:24
it's even maybe a little bit of the icing on the cake.
44:27
We've had a strong run in the silver price, right?
44:30
I mean I think we're bumping up against $30 here in the United
44:33
States right now. But we've all these factors that
44:38
you've talked about, right, and and even you know the the, the
44:40
solar explosion and demand and the supply going down.
44:45
But all this, this recent move and this strength in the silver
44:50
price over the last couple months has all occurred with
44:54
very little interest, very little interest, Maybe it's
44:56
percolating, maybe it's getting a little better, but very little
44:59
interest in the West, right. It's almost like silver did it
45:03
like silver went out and ran the 100 yard dash and and did very
45:08
well, had an awesome time, but silver was running into a 10 or
45:13
15 mile an hour headwind, which is really that western investors
45:17
were dumping silver, I I mean. Yeah, they were.
45:20
Well, what we're looking at is always been the problem with for
45:24
every one ounce of silver that Ron you you have, can you show
45:28
people I know. You.
45:29
Oh, I've got a plenty. I got AI got an ounce here.
45:32
Yeah. Here we go.
45:34
This is from our friend Big Tim, the Silvershire.
45:37
Yeah, that's right. So by the way that was, I forgot
45:41
the sculpture, but that's, yeah, it's the same one they have on
45:44
the gold piece. For every one of those, there
45:47
are up to 600 transactions on on the paper market.
45:53
So. So one the best way to look at
45:56
is 2 years, 2 days of trading, you know in futures it equals
46:02
one year of mining. So if they were to.
46:05
So that's why Serge Iglassiev authored the gold for oil
46:11
program and silver just gets brought along is to create
46:15
arbitrage. So now at $33, you know, if I
46:19
can buy jeans at a thrift store in Pittsburgh and sell them, you
46:25
know, for 6 bucks and sell them for $100 on Poshmark or in
46:30
Europe, that is what we call arbitrage when you can sell
46:34
something in a different environment at a higher price.
46:37
So China knew this. They knew that Western markets
46:41
were rigging the price of silver through these derivative swabs
46:46
where no physical ever changes hands.
46:49
So they're calling the bluff. And now that's that sucking
46:53
sound you hear is physical metals moving from the West to
46:58
the east. And let's remember China, the
47:01
two largest countries in the world are India, just past
47:05
China. So like you said earlier in the
47:07
broadcast, if they get their people to even buy one ounce
47:10
each like the one you just held up, that's all the silver there
47:13
is. There's there's less silver
47:15
above ground than there is gold and and and you'll never hear
47:19
that on Western media. Yeah, I mean, but it, it, it and
47:23
we and we focus so much on China and I'm guilty as well.
47:26
But the story in India is just as compelling.
47:29
I mean, I've heard that Indian households have 20, what is it,
47:35
25,000 metric tons of gold alone?
47:38
Like more than three times what we haven't supposedly have in
47:43
Fort Knox. The the story in India is crazy.
47:47
And let's also remember that in India, for the past 40 years,
47:52
the US industrialists and corporis, and I'd call them the
47:55
parasitic class or the political class, they decided to ship jobs
47:59
overseas for labor arbitrage. And in so doing, the middle
48:05
class in India has exploded. So they can afford plenty of
48:09
silver and gold. I would say their discretionary
48:11
cash exceeds that of the average American who we're seeing our
48:16
purchasing power eroded through inflation.
48:20
They're seeing their wealth protected through silver and
48:22
gold. And why wouldn't they?
48:25
They've been stung in the past. Remember, they were colonized by
48:28
the Brits, and so they know what it feels like when there's a
48:32
regime turnover. And that political instability
48:35
is always a good tailwind for gold and silver.
48:39
So, So what does it tell us if we think about just India alone?
48:44
1.4 billion people, An economy, probably one of the fastest
48:50
growing economies in the world, an economy that's that's rapidly
48:54
increasing the size of their consumer or middle class and a
49:00
country where precious metals are woven into the fabric of the
49:05
society. And that's just India.
49:08
And there's 1.4 billion people and there's also this staff that
49:11
says that demographically there's going to be more India's
49:15
like, leads the world in terms of like the next 15 years.
49:19
I think it is with the number of people, just from a demographic
49:22
perspective there, that are going to be reaching adulthood.
49:26
So you got all these people reaching adulthood, all these
49:29
people joining the middle class and oh, by the way, their
49:32
parents and grandparents, if I, I, I heard it.
49:35
It said that once in India, the grandparents will tell their
49:38
grandchildren to to own your weight, your body weight in
49:44
silver and then to own as much gold as you possibly.
49:47
Can Yeah. And the other stat people know,
49:51
you see people in the West are extremely, I don't want
49:55
ethnocentric and they don't have this sort of critical thinking
49:59
skills or curiosity in other people's cultures.
50:04
And you gotta remember, I'll give you another talking point.
50:06
Carnegie Mellon right now in Pittsburgh is the only
50:10
university in the world or in the United States, North
50:13
America, that is granting APHD in robotics.
50:17
And what do we know about the future of AI in robotics?
50:20
And 90% Ron are Asian students that are in the education
50:27
department. So these are these and then
50:30
reason being is cause the US citizens cannot pass the boards
50:35
or the have the transcript or even have the GME scores to get
50:40
into the top engineering schools.
50:42
So I have a personal rule when I have a physician as I I'm hoping
50:46
it's an Indian or or someone from Asia and that I guess
50:50
that's some reverse form of racism.
50:54
But I it's just I want someone that was paying attention in
50:58
medical school not distracted on social media or addicted to the
51:02
whatever the Justin Bieber and Taylor Swift are up to or some
51:06
Netflix series. I'd rather them have that you
51:09
hear about the tiger mothers that are, you know, that's what
51:13
I want when my doctor is slicing me open for the 7th time because
51:17
I've had one too many cheeseburgers.
51:19
But if they're stacking silver and gold and central banks are,
51:24
and the projection is the people are far outpacing the central
51:28
banks, then it's it's just a matter of time.
51:32
Silver's moved from $22.00 to 30 in just two months.
51:36
That's 25%. And Jim Rickards just pinned a
51:40
piece yesterday on $27,000 gold. So and Luke Groman is very
51:46
conservative he's got it at 20,000 and it all it is, is that
51:50
the RE evaluation that occurs when the Fiat anytime there's a
51:55
new regime or a new monetary system, gold sort of steps up
52:00
and you just take debt and you divide it by oz above ground and
52:04
that's the the new price of gold so.
52:06
Yeah. Do you do you think that the
52:09
that and and I'll raise my hand I'm guilty of this right.
52:12
I mean the thought of that happening seems I'm going to say
52:19
unlikely. Like there's part of me that
52:21
says yes, that's it's bound to happen, right.
52:24
But then there's another part I think that I think they call it
52:26
normalcy bias or recency bias where I'm like well it's not
52:29
happening as you know we're maybe now things are different.
52:33
Do you think though, if we look at history that it's happened
52:37
every time, every one of these Fiat, you know, fractional
52:41
reserve, paper money, whatever you want to call it, systems,
52:44
they've all collapsed. I know Lynette Zhang has piles
52:47
of different paper money from all these different failed Fiat
52:52
currencies over the years. I think it's going to be a big,
52:55
I think it'll be shocking to guys like us.
52:57
I think it'll be like your How do you think the average
53:00
American will react to this, John?
53:03
Well, there'll be a lot of denial at first, but the
53:06
patriotism will be replaced with reality.
53:09
And what I think happens is, and you did reference Lynette Zhang,
53:15
James Turk wrote a great artist. He's written a few great books
53:19
on gold. And when he talks about the Fiat
53:22
Graveyard, I'm starting to write a graphic novel called Tarnished
53:28
Crown, a graphic novel of silver wars and paper promises.
53:33
And we start with the very first minted coins during the
53:36
Peloponnesian War, and then we trace it all the way to today.
53:40
And every single time, the regime that fails is because
53:44
they cling to warfare as their only economic engine.
53:50
And once you've crossed that threshold, which Eisenhower
53:55
warned in his farewell address, beware of the power of the
53:59
military industrial complex. And then when you have on top of
54:03
that, Congress, and we used to think of them as aristocracy
54:08
would be maybe ruled by an elite few, or democracy ruled by the
54:12
people, or even plutocracy ruled by, you know, some sort of a
54:19
smaller elite few. Now we have kleptocracy, which
54:22
is theft like kleptomaniac. They're funding both sides of
54:27
these wars, and it's a heck of a lot easier to steal money once
54:31
you take it overseas. That's why you see these
54:35
projects voted by both Republicans and Democrats to
54:39
keep funding Ukraine. It makes no sense.
54:42
I think they're over 130 billion right now, and we've had 57
54:47
undeclared wars since World War 2, and according to Ben Norton,
54:51
250 since the 1990s. So it makes sense.
54:55
It's the only thing backing the dollar since 1971.
54:58
Nixon closed the convertibility. I want, I want, I want to
55:01
interject, I want to interrupt you because that's Bernie.
55:05
I'm going to ask you this question.
55:08
Do you believe? Because I've read it and and it
55:10
makes sense to me. But I'm curious to get your
55:12
insight that Nixon one of the big reasons why Nixon took us
55:17
off the gold standard temporarily guys don't forget
55:21
it's but we it's been a long temporary 45 years, 44 years
55:26
nonetheless temporarily took us off the gold standard was
55:29
because he needed money I've heard 222 trains of thought but
55:34
they they they make sense with what you're saying.
55:36
Number one, they needed money to pay for the Vietnam War.
55:40
And #2 he needed money to to kind of help fund some types of
55:45
programs he wanted to put in place to help his re election,
55:48
potential re election bid. Yeah, the Lynette Zane going
55:52
back to her, she put a great graph out that shows right when
55:56
he did shut the window, the frequency of wars shot up, up
56:02
and to the right. And the reason that happens is
56:04
if if you and I were vice president and president, I'll
56:08
let you be president. No, no, no.
56:10
But we if we were to go to the people and say what do you think
56:15
of this conflict in Somalia? Are this conflict in Afghanistan
56:19
where we replaced the Taliban with the Taliban and it was a
56:23
$2.3 trillion, five times the price of Vietnam.
56:27
If we ask the people, our constituents, do you vote for
56:30
this? They would say no.
56:32
So a politician's always gonna want an unconstrained monetary
56:37
system. That thus I would agree with the
56:40
first part of your theory is that it was to pay for Vietnam.
56:45
And let's not forget that the president of France did show up
56:49
with a Navy ship to get the gold back.
56:54
Well, they started repatriating the gold, and at that point
56:57
Nixon knew that there wasn't enough in Fort Knox if other
57:02
nations did likewise. So he had no choice but to shut
57:05
off the gold. Convertibility.
57:08
A central banker will always unwelcome gold because it
57:12
provides competition for their financialized instrument.
57:16
So, so in 1971 if if we'd stayed on the gold standard in this
57:22
country, which by the way worked really well for what I've
57:25
recently heard was 180 years. It was like the 180 years where
57:31
the United States when we were on the gold and the bimetallic
57:34
standard where we had economic growth that has been unrivaled
57:39
throughout history. But but none the less had Nixon
57:42
stayed on the gold standard and wanted to do what he wanted what
57:46
he what he would planned on doing in the future, he would
57:49
have had to gone to the United States citizenry and said are
57:51
you in favor of this. Oh, and by the way, if you are
57:55
because we're on the gold standard we can't just create
57:58
money out of thin air. We're going to have to lower
58:01
your your social benefits. We're going to have to raise
58:05
taxes, right. I mean they actually it it it it
58:08
the gold standard forces a a real discipline of
58:13
accountability upon the government is that is that.
58:16
Safe. Yeah.
58:16
I would say a constrained monetary system keeps
58:20
politicians from going on crazy adventures.
58:23
A. Little more honest.
58:24
Yeah, I don't think the entitlement programs are much of
58:28
a drain on our system. I mean, people that have fed
58:31
into Social Security all their lives certainly deserve that
58:34
benefit. Children who are the victims of
58:38
abuse and neglect need protection.
58:41
Those we do need fire, police, roads, bridges, those.
58:46
There's plenty of money for that in the budget.
58:48
What we don't need are Lockheed Martin, Martin, Marietta,
58:53
Halliburton, Northrop, Raytheon, and and Los Alamos and Sandia
58:59
Labs. Mooching.
59:00
I call that more like corporate welfare of the parasitic class.
59:06
So there's a way to have a good defense, but defense should be
59:10
when the troops arrive on your shores, you shouldn't be out
59:14
there going on adventures that are like you're a rogue state
59:18
and you're on these unilateral adventures just to basically
59:22
steal other people's gold and oil.
59:26
I believe Iraq still has to settle all of their oil in
59:30
through the Federal Reserve. So you got to, you know, ask
59:35
Libya Gaddafi how that went for him when he started talking
59:39
about gold. You know, it didn't end well.
59:42
It's almost like it didn't end well for the the the poor Aztecs
59:47
or when Pizarro showed up one day.
59:50
You know, it's it's very similar to Rome's playbook where Severus
59:55
Septimus said to his son on his deathbed, take care of the
1:00:00
soldiers and scorn everyone else.
1:00:03
Those were his dying words, he said to the and and they took
1:00:08
him seriously. And soldiers were well paid.
1:00:11
And the the citizenry or the 1%, they were given bread and
1:00:16
circuses. So bread was a bit of their
1:00:19
stipend for grains. And the circuses were the
1:00:23
Colosseum games. And Ron, as much as you and I
1:00:26
like Colosseum games, let's admit.
1:00:28
That the US and Rome are going down the same path of where the
1:00:32
citizens are distracted and the leaderships are involved in
1:00:35
unindied wars. Yeah, Yeah, absolutely.
1:00:38
And then on top of that is we, we know that we're hearing
1:00:41
reports that more and more countries are making moves to
1:00:46
repatriate their gold back from the United States.
1:00:48
That's exactly right. And that gold will not be there.
1:00:51
Maybe the first truck will get loaded and then they'll shut it
1:00:55
off again. And just so, yeah, we're just
1:00:59
going to watch this ham time or watch this unfurl in real time.
1:01:04
Sure, they're still going to be the US dollar.
1:01:06
It's just not backed by anything.
1:01:08
And if you got it, let's think of just what happened in the
1:01:10
last month. Janet Yellen goes to visit with
1:01:14
President Xi Jinping and he doesn't even meet with her.
1:01:19
That that's pretty telling. He ignores her.
1:01:22
It reminds me of when we've had that happen before recently.
1:01:26
And I, you know, I hate both sides.
1:01:33
I missed that. That's OK.
1:01:34
She said we need, we need John, we were we're having like a
1:01:36
blockbuster turn out for this live stream.
1:01:38
People love you. We need 15 more likes and I'll
1:01:41
get to I'll get to blow the train whistle.
1:01:44
So John, this could be a special train blowing whistle.
1:01:47
As we're talking about world events.
1:01:48
I may be blowing a wooden train whistle, but go go ahead.
1:01:51
Well, let's just remember, let's think of the train metaphor.
1:01:54
If we had the time during the Industrial Revolution where we
1:01:58
had coal firing up the steam engine and then we we're lucky
1:02:03
enough to discover oil near Pittsburgh in Oil City, which
1:02:07
was not that long ago. Now we're at this new transition
1:02:11
where we'll never phase out fossil fuels, nor should we.
1:02:16
We're going to need all the energy and solar again.
1:02:19
One GW equals 500,000 ounces of silver.
1:02:23
So we're all bullish on these industrial uses of silver.
1:02:28
But in history when silver goes on, its biggest bull run is when
1:02:32
it has a monetary use as well. And that's why this thing
1:02:35
happening with Brazil, Russia, India and China and this
1:02:40
architected through Sergei Glasyev is This is why we're
1:02:44
seeing silver go on a bull run right now.
1:02:47
And if there's there'll be some sideways chopping in some minor
1:02:51
pull backs. But once the West loses control
1:02:54
of market rigging, we should see its true discovery.
1:03:00
You know, no one knows what that number is.
1:03:02
You can either say the dollar is, like you had said earlier,
1:03:06
the cleanest shirt in The Dirty pile of laundry, or you can
1:03:11
just. I think Mike Maloney says things
1:03:13
like, hey, guess what, an ounce of silver today is 129th of a
1:03:20
dollar. That's how he he says it that
1:03:22
way, which is a good way to look at it.
1:03:24
Interesting. Yeah.
1:03:26
Yeah, No, I know. And and and I like what you're
1:03:27
talking. About, I mean the dollar's 129th
1:03:30
excuse. Me, that dollar's 129th of an
1:03:32
hour, right. Because people, people will jump
1:03:34
down my throat all the time because I'll say, you know, oh,
1:03:36
we could have, we could have $60.00 silver.
1:03:39
We could have, you know, we could have $200 silver, we could
1:03:43
have 600, we could have like, you know, 50,000.
1:03:47
It just depends on how. How weakly?
1:03:50
Yeah, exactly how many pieces of paper, right?
1:03:53
I mean, I was showing this earlier, John, This is a silver
1:03:57
certificate, right? It looks a lot like a dollar,
1:04:00
but it says right at the top silver certificate, right.
1:04:03
This is just a paper dollar. I mean it's just, it's nothing.
1:04:07
And we could get to a point where I mean what it really,
1:04:10
what it really depends on is how quickly and to what extent the
1:04:14
dollar devalues in the future. And and and when we look at the
1:04:19
gold market and the silver market and it's just fascinating
1:04:22
the different dynamics going on in both of them right now.
1:04:25
You know silver with its industrial component but in in
1:04:29
gold with its, you know, monetary component that is
1:04:34
becoming just more and more prevalent throughout the world.
1:04:37
But then silver also with this monetary component, but it's
1:04:41
industrial component and then you throw copper into the mix.
1:04:44
And what's going on with copper right now and I, and I'll argue,
1:04:48
you know, silver's kind of in the, let me ask you this
1:04:50
question, Do you, do you see silver kind of in the middle,
1:04:53
like gold is the godfather of precious metals.
1:04:56
And then you have silver that's a precious metal related to
1:05:00
gold, but silver's also an industrial metal and you could
1:05:04
say it's related to copper does. That does that.
1:05:07
Yeah. No that's pretty good.
1:05:08
You're setting up what I call the Triumph.
1:05:11
I mean you got if you but we you got to remember too you had we
1:05:16
found research going back to when John B Stevens testified
1:05:20
before Congress and if people write me I'll give them the 70
1:05:23
page transcript that where US couldn't even really maintain a
1:05:29
copper standard which is now if you think of the fact that a
1:05:34
penny now I think is melt value may be worth up to three cents.
1:05:39
Yeah, James Anderson, I shared it yesterday, tweeted a picture
1:05:42
of he said sorry Abraham, you know to Abraham Lincoln it's
1:05:46
like you're you're worth more melted down $0.03.
1:05:50
Get Get James on your show. You had him, didn't you?
1:05:53
Yeah. I had him, yeah.
1:05:54
Great guy. He is just a bright kid and I'm.
1:05:58
I call everybody a kid. You're a kid.
1:06:00
I mean, you are. I mean you got.
1:06:04
I'm not. I won't talk about your family
1:06:05
photos because there may be some nefarious guys.
1:06:08
I had, I had children later in life.
1:06:10
Yeah, well, no, but they're just adorable.
1:06:13
And I do want to let the viewers know that I'm going to be in the
1:06:17
Four Corners soon working on a Silver filtration project.
1:06:22
Silver also purifies water with with clay on on the reservation
1:06:28
as well as Pinon. And I'm going to eat at the
1:06:32
Chili Pod. It's delicious.
1:06:35
It, Ron, I'm telling you this. Is.
1:06:38
Gonna be the best dinner ever. But what else can we talk about
1:06:43
before you just but there a stage hook that Susie's going to
1:06:47
pull on me That just sort of like made of silver?
1:06:50
Oh, you're right. Yeah.
1:06:51
We're sorry, John. And I'll just, I'll just, I'll
1:06:53
just press the remove from stage.
1:06:56
No here, here's what I'm going to get.
1:06:58
I think this is exciting and I showed this earlier, so
1:07:00
hopefully you'll be able to see this as well.
1:07:03
Here we go. Have you seen this slide from
1:07:06
Tavi Costa? Did you see this one?
1:07:08
That shows the amount of. Ron I get most of my information
1:07:11
from Ron's basement. He's awesome though.
1:07:14
Let me show me what it is. Can you see it up on the screen
1:07:17
right now? I can, yes, Sir.
1:07:19
Yeah. So that shows gold and gold
1:07:22
miners as a percentage of total global assets to me.
1:07:27
That's just mind blowing and I know you follow some of the
1:07:29
mining stocks as well. Yeah, I would look at it this
1:07:33
way everyone. This is the simplest way to look
1:07:34
at it. If you take Exeter's Pyramid and
1:07:38
remember Mr. John Exeter was a member of the Federal Reserve.
1:07:41
He wasn't some insane gold enthusiasts like Ron of Ron's
1:07:45
basement or John of the Silver Academy.
1:07:48
He was, you know, I would say he was on the other side if we were
1:07:52
to paint him out as an enemy. But he admitted that all of
1:07:55
these assets, if we just take global debt, is over there.
1:07:59
It is. Your your wish is my command.
1:08:03
Man, yeah, Thank you. The, the gold market there.
1:08:06
So let's just take U.S. debt at 34 trillion, world debts at 303
1:08:13
trillion, derivatives are in the quadrillions folks.
1:08:17
But the gold market right now is only 15 trillion and silver is
1:08:21
110th of that. So I think what you're seeing
1:08:26
that that's sort of the other way to represent Tavi's chart
1:08:31
and and think of it just like a a burning candle wax just
1:08:36
dripping towards. Those are the only I would say
1:08:39
that and maybe a house or something that's tangible, maybe
1:08:43
I got some artwork behind me that I think that will retain
1:08:47
its value. Some people, I heard the author
1:08:50
of the Creature Jekyll Island talk about you may want to get a
1:08:53
a garage and fill it up with, you know, red or white wine.
1:08:57
I mean, people have done that before.
1:08:59
So collect, art, collect. But I'm just trying to be a
1:09:02
simple man, Ron, and take care of my family and don't let the
1:09:06
dollar eat into things that I the quality of life, like your
1:09:10
housing, education, medical needs, food, energy, they don't
1:09:16
even count some of those things in the CPI.
1:09:19
Ron, right. What is that?
1:09:23
Right, right. They.
1:09:24
They talk about it. What is a basket of?
1:09:28
My basket's different than your basket, Ron and my I just saw my
1:09:32
mom. She's 87.
1:09:34
Her basket looks no, nothing. Nothing like our basket.
1:09:38
You know, in South Dakota or in Pittsburgh.
1:09:40
It's insane. Yeah, yeah, yeah.
1:09:42
You made me think of of something that I thought this
1:09:45
was very funny at a Missouri. One of the Missouri politicians
1:09:48
who's involved in the legal tender legislation was a guest
1:09:50
here in the basement. And he said one of my
1:09:53
constituents is like 87 years old.
1:09:56
Like you referred to your mother and and and and he said this,
1:10:00
this, this 87 year old man told him that he's amazed at how much
1:10:04
stronger he's getting physically as he gets older because he used
1:10:10
to have to use a cart to push $100 worth of groceries out of
1:10:14
the grocery store and now he can carry it in two bags.
1:10:17
Oh. My gosh.
1:10:20
So. Let's don't.
1:10:22
I don't want to depress everyone because there is hope.
1:10:25
And the hope is in our in our brains, in our hearts, in our
1:10:28
souls, positive visions, you know, manifests.
1:10:33
And what you do here today, Ron, when you get 708 hundred 900
1:10:37
people together and you're up to already 35,000 subscribers in a
1:10:41
really short time, it's basically you're it's like a
1:10:45
church service. But we're not dogmatic or
1:10:49
demagogues or judgmental. You know, it's all faiths, all
1:10:54
creatures, all cultures coming up with strategies that are
1:10:58
going to almost like if you were to train us on how to get
1:11:02
through a two week wilderness camp, it's so it's survival
1:11:06
skills and I I wanted to show my gratitude to you for that.
1:11:10
Man, well, and you and you know how I and and and most all of my
1:11:15
followers that also are subscribed to you at Silver
1:11:18
Academy, the Pickaxe feel about you as well.
1:11:20
And that's really what it's all about is we're, you know, we're
1:11:23
trying to protect ourselves, protect our families.
1:11:26
And I don't think that any of us are like have dreams of becoming
1:11:30
wildly wealthy or anything like that.
1:11:32
We wouldn't, you know, we wouldn't argue with that, but I
1:11:35
think what we're really about is community and helping each other
1:11:38
out. I want to ask you one more quick
1:11:40
question on Extras Pyramid before I put it down.
1:11:42
When I look at it, I see gold and silver is the only real
1:11:47
things in that. And everything above gold and
1:11:51
silver interestingly are all kind of like man made confidence
1:11:55
based make believe instruments and and when I look at that
1:11:59
pyramid what excites me about gold and silver and I and and
1:12:04
and I appreciate you pointing this out.
1:12:05
This pyramid was designed by a guy who worked for the New York
1:12:09
Federal Reserve and he didn't. This wasn't like in the 1800s or
1:12:12
anything this he just died like I think 10 or 12 years ago.
1:12:16
John Extra. But when I when I look at that
1:12:18
pyramid, I want to get your opinion on this John.
1:12:20
If I'm falsely deluding myself and my followers by saying this.
1:12:25
If I think of it like a real pyramid made out of stones,
1:12:29
right. And it's an upside down pyramid.
1:12:31
Gold and silver at the bottom that when I think of pieces of
1:12:35
the derivative, one of the stones out of the derivatives
1:12:37
market falls out. When one of the stones out of
1:12:40
the bank money falls out of, people lose that is, that money
1:12:43
falls out that and that those segments of that pyramid are
1:12:48
much more massive than the gold and silver at the at the at the
1:12:52
point. But as those stones fall out,
1:12:55
they need to they need to find a new home.
1:12:57
And that new home is going to be.
1:12:59
I guess that's Gresham's Law right in the gold and silver
1:13:01
sector, and it's that old Hoover Dam being drained with a garden
1:13:05
hose type scenario. Yeah, that you said it.
1:13:08
Really, I I can't improve on that.
1:13:11
The only thing I could say to people is that gold is a noble
1:13:15
metal, meaning that it is the most resistant to interference
1:13:20
with gases and corrosion and things of that nature.
1:13:24
And silver is the number one conductor of electricity as well
1:13:29
as reflectivity and the most ductile and the most malleable.
1:13:34
So and they're both on the periodic chart of elements as
1:13:37
well as copper. So those other that's what I
1:13:39
think I hear you saying is they're of nature.
1:13:42
The other things on there are basically find.
1:13:46
Let's just call them a derivative.
1:13:48
It's something that derives value from an underlying asset,
1:13:53
so. Or Competence?
1:13:55
Or competence? Right.
1:13:57
OR. And And what?
1:13:57
And what? What's the first three?
1:13:59
Sorry. But what are the 1st 3 letters
1:14:01
of competence? Con.
1:14:02
Right. A con job?
1:14:03
Sorry. Yeah, that's right.
1:14:05
I know I can't. I think we're vibing pretty
1:14:09
well. I almost feel like it went so
1:14:11
well that you should say goodbye to me before I usually I.
1:14:15
We have this tendency to help. Well, before we say goodbye
1:14:20
John, and say goodbye to all of our Look #1, thank you.
1:14:24
And before we say goodbye, I almost forgot.
1:14:26
I want to do this, which is one of the most important things.
1:14:29
I want to bring people out to one of your sub stacks.
1:14:35
This is the Silver Academy guys. Do yourself a favor, OK?
1:14:39
If you're going to buy precious metals, check out pin backs,
1:14:41
throw them into the mix. But if you're going to learn
1:14:43
about silver gold sign up for John's sub stack.
1:14:47
This is just one of them. The link is in the description
1:14:50
of this and every single piece of content I put out.
1:14:53
So if you forget today, I know I heard you.
1:14:56
I'm going to turn my wife off. I need to blow the train
1:14:59
whistle. But John, anything you want to
1:15:00
say about your about your sub stacks or anything I missed?
1:15:03
That you no just just adding them to the description fields
1:15:06
plenty. You've been such a supporter of
1:15:09
of our movement. Again though, this is just about
1:15:13
the community and and us. I learned as much from you and
1:15:18
your listeners and followers. So it's it, you know, let's just
1:15:23
continue this March, stay tough, persevere and you never give up.
1:15:30
Never in others days. That are going to suck if I'm
1:15:33
allowed to say that on YouTube. Absolutely.
1:15:38
Yeah, absolutely. Well, John, but today is a
1:15:40
special day because a rare event occurred with you as our guest.
1:15:43
So thank you. We did get to 400 thumbs up.
1:15:46
Do you mind if I blow the train whistle four times?
1:15:48
No, we have to do. It's symbolic.
1:15:52
There we go. Said something on here.
1:16:00
Interesting. I thought Oh yeah, there's this
1:16:02
is interesting, this train whistle and you guys can't see
1:16:05
it but it tells you what like what they mean like train
1:16:09
approaching 2 long, 1 short, one long.
1:16:13
Anyway, next time I'll I'll do that John.
1:16:15
Thank you. Yeah, that's back when the
1:16:16
citizens had a brain in their skull and they could actually.
1:16:20
Now I get. Now they're just listening to
1:16:22
Taylor Swift and. Justin, I can send secret
1:16:26
messages to my viewers through the train whistle.
1:16:28
That means buy silver. That means sell silver.
1:16:31
Thanks, John. We'll look forward to having you
1:16:33
on next time. Anything.
1:16:34
I forgot to ask you anything. No, we're we're good.
1:16:37
Ron, you're just a you're an Angel from heaven.
1:16:39
And I'm glad I follow you on on. Seriously.
1:16:42
I mean that and and thank you to your followers too.
1:16:46
You know thank thank you John. And the and the feelings are
1:16:48
mutual. And like I said before, you came
1:16:52
on, right You're my mom's favorite.
1:16:53
So she's she's going to be happy you were on the show.
1:16:56
Today, well, she may adjust that after today's lesson.
1:16:58
We'll see. Take care everybody.
1:17:00
And so it's good visiting with all of you.
1:17:03
Yeah. See you, John.
1:17:04
Thank you. All right.
1:17:04
Stay awesome all. Right.
1:17:06
Thanks, buddy. All right, guys, thanks for
1:17:08
being here. I'll see you next time.
1:17:10
And everybody have a great day, OK.
1:17:13
It's a big deal that you support us.
1:17:15
We appreciate it, John Little, what a great guy.
1:17:19
I mean, really puts in a ton of work for the silver and gold
1:17:23
community, but it's something that he believes in.
1:17:25
It's something that I believe in.
1:17:26
I think it's something you believe in to take care of
1:17:29
yourself, OK?