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🔔 Best Strategy 🔔 When SILVER has BIG GAINS · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  Congratulations. Suddenly you're rich.
• 0:03
  The price of silver, the price of gold have skyrocketed.
• 0:07
  We've dreamed about this day, right?
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  We have gold. You know, we hear these numbers
• 0:13
  of like 15. Twenty $50,000 per oz.
• 0:17
  Silver. We hear about $100 per oz.
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  We hear about $85 per oz. What about 600 or even $1000 per
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  oz? Look guys, it's not out of the
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  question, right? The situation could get so bad
• 0:33
  with the US dollar that literally the price of gold, the
• 0:37
  price of silver, the price of platinum, go through the roof
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  numbers that we can't even imagine.
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  And while we think this might be a dream scenario for us, are we
• 0:50
  prepared? Because it could turn into a
• 0:53
  real nightmare. There's a number of factors that
• 0:56
  we all need to think about. We need to be prepared, if
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  indeed the system gets to the point where it's falling apart,
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  where where the prices measured in dollars, measured in Fiat,
• 1:10
  measured in Unicorn fart dust, right Get that high that we want
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  to be prepared. Because while it's easy to dream
• 1:18
  about that and to believe that we've prepared ourselves, if we
• 1:23
  haven't actually mentally and and and and and have a plan in
• 1:29
  place of what we'll do, it could turn into a real nightmare.
• 1:38
  A couple of big keys to consider, right?
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  Number one, what you want. Why do you own silver?
• 1:45
  Why do you own gold? Why do you own platinum?
• 1:48
  To protect yourself, right? To protect yourself in the event
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  of one of these big catastrophic type events.
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  And if we look back on history, we know those events happen.
• 2:00
  OK, but there's more than just precious metals to consider,
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  right? You want to consider food, You
• 2:05
  want to consider shelter, You want to consider security,
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  right? Are you going to be safe, right.
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  Because we don't want to talk about the worst case scenarios,
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  but they could become a very unsafe environment.
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  You want to have family and friends.
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  It's so important, right? What What's it all worth without
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  your family and your friends anyway?
• 2:28
  And people can help each other. That's what you guys do a lot on
• 2:32
  this channel. That's what you guys do A lot of
• 2:34
  in these live streams is help each other.
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  So one of the, you know, think about your primary needs first,
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  right? Food, family, shelter, friends,
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  security. Your health is very important as
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  well. You want to keep yourself as
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  healthy as possible because without your health, you know
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  you don't have anything. OK.
• 2:53
  Now, can it happen? Can we get into a situation?
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  I mean, people say this all the time, right?
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  Don't we? Don't you hear it all the time?
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  Like you don't want to have a situation where there's $10,000
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  gold. You don't want to be around in a
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  situation where you have $600.00 silver?
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  Well, you know, talk to the people in Weimar Germany, talk
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  to the people in Venezuela right now, talk to people in
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  Argentina, talk to people in many of the African countries
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  that have had hyperinflation. It can certainly happen.
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  And yes, it does lead to a certain amount of social unrest
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  within those countries. So when we think it sounds
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  crazy, if we look back on history, every Fiat money
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  system, every paper money system, every one of these,
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  right, this is paper, this is paper, right?
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  Or electronic. Anything that's not been
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  tethered to real money, like silver and gold, has failed.
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  And when it fails, how many Confederate dollars here in the
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  United States? How many Confederate dollars
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  does it take to buy an ounce of silver?
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  Or an ounce of gold, for that matter?
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  Ask someone who was around right at the end of the Civil War.
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  They'll tell you they were using Confederate dollars for a
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  wallpaper. OK, so it does and will happen.
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  Somebody sent me a real interesting quote just earlier
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  today. It said that when empires fail,
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  it happens quickly and I don't want to scare anybody.
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  And I'm not saying that, you know, I want it to happen.
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  I don't want it to happen. I don't want I, you know, I
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  happen to live here in the United States.
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  We don't, we don't want bad things to happen, but we've got
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  to look at history and we got to look at what's going on and be
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  prepared. So the scenario where gold and
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  silver become very valuable, right?
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  Not measured in Fiat money, not measured in that, huh, Unicorn
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  fart dust, right. Paper money, electronic money,
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  whatever. Anything that's not tethered to
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  gold and silver, we we don't care.
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  We want to know the value of the ounces of silver, the ounces of
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  gold. And when it goes crazy, when the
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  value shoots up, it's going to be kind of a good, excuse me,
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  traumatic experience for you. Maybe we won't see it possibly,
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  and some people think likely we will.
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  So you want to be prepared and you want to make sure that if
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  you convert any of your silver, any of your gold in to something
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  else that you're doing it in an advantageous way and that you
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  have a plan that you thought about it.
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  OK? Because if you're just reacting
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  to emotion, OK, If you just make these decisions based on fear or
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  or elation or anything else, there's a much higher
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  probability that you can make a big mistake.
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  Did I back to this scenario? Suddenly you're rich suddenly,
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  right? All those ounces of silver,
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  maybe you've collected some gold, maybe some platinum,
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  right? Neil out and out and got her
• 6:10
  friend Neil out in Cali and suddenly platinums $40,000 an
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  ounce 60,000. I know you're saying, Ron,
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  you're talking crazy. You're that's on never, never
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  could happen. Absolutely it could happen.
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  What are you going to do right. Remember, measure your precious
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  metals, especially under that scenario in ounces and value.
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  Couple of things you can do when it happens.
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  Number one, do you want to exchange, do you want to convert
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  some of your metal into other assets?
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  Probably because we're probably going to get to a point where
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  the relative value of silver, of gold, of platinum are so good
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  that there's going to be some attractive deals, right.
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  But you want to buy other real things like real estate, maybe a
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  house, OK, maybe some farmland, maybe some machinery, maybe some
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  oil leases, anything real, right when the exchange for the
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  precious metals for what you're getting is attractive, like
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  right now let's talk about houses, a decent little house, a
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  decent little house, right. And any house is good, but let's
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  just for example sake, say a nice little house in Saint Louis
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  where I live could cost you 10,000 ounces of silver, all
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  right about let's say $250,000. If we get to a situation, and
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  this could happen where the where the value of that silver
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  goes up so much, you could possibly be buying houses for
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  1000 ounces of silver, maybe for 500 ounces of silver.
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  If you're looking to buy gold, silver, or platinum, do yourself
• 7:56
  a favor and check out Pim Bex, the online precious metals
• 8:00
  bullion dealer and sponsor of Ron's Basement.
• 8:03
  I was a happy customer before they offered to support the
• 8:07
  channel. You'll find they have the best
• 8:09
  prices, quality, and service. I think Pim Bex is best, and you
• 8:14
  will too. And be sure to tell him that
• 8:16
  you're from Ron's basement. The guy on Arcadia economics.
• 8:20
  I'm forgetting his name, darn it.
• 8:22
  The nice little guy that lives in the big guy.
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  Whatever. Big guy, smart guy, entertaining
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  guy that lives in Israel. I think he made a video about
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  people buying houses for 100 ounces of silver.
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  I think in the Weimar Germany, during that horrible
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  hyperinflation they had right before World War Two, people
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  were buying houses for 10 ounces of silver.
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  I mean, it is absolutely crazy, but you want to make sure that
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  you're making exchanges, you're converting your your metal for
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  other real assets. What you don't want to do?
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  This is just my opinion, right? We get to the situation.
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  You're going to have to have your own plan.
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  But what I personally would caution you against doing is
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  converting any of that metal back into Fiat currency, back
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  into the currency that's being debased.
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  Because at this point, right, we already know the dollar has lost
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  97% of its value since the Federal Reserve came into
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  existence. If we get in that situation, you
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  do not want to convert your metal back into the Fiat
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  currency or whatever it may be, unless something comes around
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  that you feel confident is tethered and is real.
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  Maybe a new currency that's backed by by real assets, but
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  you don't want to fall into this.
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  Oh, I bought this silver for for $24.00 an ounce.
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  Now it's $75.00 an ounce. I'm gonna convert it all back
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  into paper money because you're just going back into this.
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  Now you do whatever you want but but I would personally caution
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  against doing that. People ask me all the time
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  should I if it if, if, when, when the price of the metals
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  goes through the roof? Should I buy stocks?
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  Maybe consider buying some stocks only in companies that
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  own real assets. Maybe oil companies, right.
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  Mining companies. You know if the if the company
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  owns a lot of assets and has very little debt, then you can
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  consider it. Talking about debt, let's talk
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  about debts. I get this question all the
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  time. What about if the price of
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  silver and gold goes through the roof and you have some debt,
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  Should you pay the debt off? Generally, I would say
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  absolutely yes. Especially if it's any type of
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  debt that has a floating rate like credit card debt, in
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  particular credit card debt, the rate can get, it gets adjusted
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  with whatever the prevailing interest rates are.
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  And if we get into a hyperinflationary environment
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  and your silver and gold are going through the roof, the
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  price of your silver and gold are crazy, right?
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  Likely what's going to happen with credit card debt that you
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  may have is that rate is going to go crazy as well.
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  They're already crazy, what, 2526%?
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  I don't have any credit card debt, so I don't, I don't follow
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  it. Now, fixed rate debt, what if
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  you have a mortgage on your house at 3%, OK, And it's a
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  $200,000 mortgage and we're in a hyperinflationary environment.
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  I cannot believe I'm going to say this, but you might want to
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  consider just keeping that debt and holding on to your metals
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  because that debt level will be deep, will be inflated away.
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  It's similar to what the Federal Reserve is trying to do right
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  now with the national debt. So in that situation, you might
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  want, if it's a fixed rate, right, mortgages that are a
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  fixed rate at 3%, a low rate. Hey, you know, because ten years
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  later that $200,000 that might be what you're earning in your
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  job in a month, right? I know that all this seems hard
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  to understand, right? I remember my motherinlaw
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  telling me that that when she first got married to my
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  father-in-law was a wonderful man.
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  I love him dearly that he when he made $10,000 a year, and they
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  did very they did very well, OK. But when he started making
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  $10,000 a year as a salary, she thought they were rich.
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  OK And the same thing with my mom and dad.
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  Same thing with anybody during the 60s or the 50s.
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  So to think now that, oh, we could be making $200,000 a
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  month, well, that might be peanuts if we get into a
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  hyperinflationary environment. What about electronic silver and
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  gold? Look, in a situation where
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  things were ETF's, any of the other electronic versions,
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  you'll want to have some actual metal.
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  Because if you don't, if you don't own it, you don't hold it.
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  You don't own it, right? If you don't hold it, you don't
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  own it. So it's critical, guys,
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  absolutely critical, right, In this situation, that you have
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  some physical metal that you own in your possession.
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  Be prepared. Because when the day comes and
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  it can happen quickly, real quickly, I know it feels like
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  it's never going to happen. Hey, we just had another bank
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  fail over the weekend. These things can happen very
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  quickly. It's like Hemingway said.
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  They asked him, how did you go broke?
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  How did you go bankrupt? He said it was a very gradual
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  process and then it just happened.
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  And same thing with empires, right?
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  They it just happens quickly. I don't want it to happen.
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  You don't want it to happen. We don't want to have the deal
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  with the difficulties that might be presented to us.
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  But you want to make sure, since you've made this smart decision
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  to be have an interest to be enthusiastic about precious
• 14:00
  metals, that you are prepared OK, that you are ready.
• 14:05
  Timing will be everything. I will caution you, the price of
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  silver is 1000 an ounce. The price of silver is 90 an
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  ounce. That's price of silver is $55 an
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  ounce. Whatever it might be.
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  I would caution against making any all or nothing type
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  decisions. Meaning you say you know what
• 14:28
  silver hit $65 an ounce. I'm selling it all.
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  I'm cashing out, right? No.
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  Just like I recommend that any moves you make into buying
• 14:38
  silver you dollar cost average in, you can also dollar cost
• 14:43
  average out. I talked I had a friend who was
• 14:45
  a top trader in a company in St. Louis called AG Edwards.
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  You may have heard of them prestigious make now they're
• 14:53
  owned by Wells Fargo. They got in trouble during the
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  financial crisis. Anyway, He was a top trader
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  there. They actually, back in the day
• 15:02
  would give him big sums of money and say do whatever you want
• 15:05
  with it. He was a great guy.
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  I was talking to him one time about a stock I own that had
• 15:10
  gone up and I'm like, I'm going to sell it.
• 15:12
  I'm going to sell it. He had the bet.
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  This is, this is a golden nugget of financial advice and this
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  relates to anything you buy that goes up, up, up, up, up in
• 15:22
  value. His name was John and John said
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  Ron, here's what I would recommend.
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  Sell, sell half. So sell half of the stock you
• 15:31
  own that's gone up and hope that you're wrong.
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  Meaning you cash out half of it and you hope that that was a bad
• 15:39
  decision and that the other half that you hold on to continues to
• 15:43
  go up. Because imagine this.
• 15:45
  Imagine, imagine in the next six months the price of silver
• 15:49
  shoots up to $65 an ounce, $80.00, let's say $80.00, which
• 15:55
  is a nice round Number. The next six months, OK, six
• 15:58
  months from today, right, July. I can't even do.
• 16:01
  What's that going to be? January.
• 16:02
  The end of January, if I got that correct.
• 16:05
  We're sitting with $80.00 silver and you're like nervous because
• 16:09
  you're like, I've got all this silver.
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  I bought it for for $23.00 an ounce.
• 16:14
  It's $80.00 an ounce. I'm cashing out.
• 16:16
  Ain't nothing wrong with that, OK?
• 16:18
  And you now you got a bunch of Unicorn fart dust.
• 16:21
  Congratulations. Hopefully you're converting it
• 16:23
  into something else that's real. But nonetheless, you cash it all
• 16:27
  out and then over the next six months, you watch it go from 80
• 16:33
  to 200 or 80 to 120 or, who knows, if things really get
• 16:38
  crazy, 80 to what picks weird. And those guys say 600, then
• 16:43
  you're like, oh, but if you'd only only sell half of it, cash
• 16:47
  out half at 80 and keep the other half right.
• 16:51
  Well, you know what, Hope you're wrong and hope it does go up.
• 16:54
  And if it does go down, But then you can say, well at least I
• 16:56
  cashed out half. Now it's only worth 40, but I
• 16:59
  paid 20 for it anyway. And I love silver and I want to
• 17:02
  keep my silver sell half and hope you're wrong.
• 17:06
  Just an idea, not giving financial advice, just a broad
• 17:10
  concept on on a way that you can manage your money, your assets,
• 17:15
  especially when they shoot through the roof.
• 17:18
  Another thing outside of silver and gold in terms of being
• 17:22
  prepared, Okay is a skill, something you can offer other
• 17:28
  people. Are you a handyman?
• 17:30
  Are you handy? Do you know about electricity?
• 17:32
  Do you know about? I mean, all of us have some
• 17:36
  skill that we could develop because if things get really
• 17:39
  hairy, you're going to want to have something of value that you
• 17:43
  can offer other people, all right?
• 17:46
  And that's that's a very key thing to to remember.
• 17:50
  Final point I want to make on the skyrocketing silver and
• 17:53
  gold. The skyrocketing silver and gold
• 17:56
  scenario is keep an eye on the silver to gold ratio.
• 18:01
  Right now it cost about 80, what, 8082 ounces of silver,
• 18:07
  maybe 85, somewhere in the 80s of silver to get one ounce of
• 18:12
  gold. If you're a heavy silver
• 18:14
  stacker, right, we could see the silver to gold ratio get to 40
• 18:20
  to one, get to 50 to one. If it got to 40 to one right now
• 18:24
  today we would have $50 silver. If it got to 20 to one and there
• 18:30
  are people that say it could get to 20 to one, that would be, if
• 18:35
  my math is correct, what $75 silver?
• 18:40
  No hundred dollar $100 silver. Some people even say that it
• 18:47
  could get to parity at some point because they're looking at
• 18:51
  the fact that there's more gold above ground right now hidden in
• 18:56
  your basement. I know what you're up to, right?
• 18:59
  Hidden in your backyard, under a tree, hidden somewhere in a
• 19:03
  vault, there's more gold. Some people say twice as much
• 19:08
  gold above ground as there is silver.
• 19:11
  I don't even know the number for platinum.
• 19:13
  Maybe Neil can chime in on that, if he's read anything or knows
• 19:17
  anything about that. But the point is you can
• 19:21
  consider if you hold a lot of silver or you hold a lot of
• 19:24
  platinum, when those ratios come more back to normal, right?
• 19:30
  Because I think it's, what, 17 to 1, silver to gold and the
• 19:33
  Earth's crust converting some of the other metals, converting
• 19:37
  some silver into gold, converting some platinum into
• 19:40
  gold, right. And then play it back and forth
• 19:42
  that a lot of people do that and it works very, very well for
• 19:46
  them.