Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **SILVER UPDATE!**🦍🦍 - Silver Running LOW! COMEX and CHINA WARNING

Transcript

**SILVER UPDATE!**🦍🦍 - Silver Running LOW! COMEX and CHINA WARNING · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  All the reasons we have to be optimistic about the silver and
• 0:04
  gold price, and there are a lot of them, a silver shortage, a
• 0:09
  silver squeeze. At minimum.
• 0:11
  We're going to talk about silver stress in the markets, the
• 0:15
  COMEX, the Chinese markets, what's happening on a worldwide
• 0:19
  basis. We're also going to hear from
• 0:21
  some of the gurus who point out some very big important reasons
• 0:26
  why we can be super optimistic about the future of silver.
• 0:29
  I don't know. So when when you think out two
• 0:32
  to three years, five years, 10 years, and you think about
• 0:35
  silver and gold, for that matter, the granddaddy of the
• 0:38
  precious metals, don't you feel good?
• 0:41
  Maybe about as good as I feel right now about you joining me
• 0:44
  down here in the basement. I'm telling you, it's absolutely
• 0:48
  true. I have a confession to make.
• 0:49
  It's a cold, dark, dank basement until you show up.
• 0:53
  Thank you for being here. It's free to subscribe, Press
• 0:56
  that subscribe button. Leave a comment in the comment
• 0:59
  section. You got a good head on your
• 1:01
  shoulders. Trust me, the people that watch
• 1:03
  my videos, according to all the scientific data from Google,
• 1:07
  right, you've got a little higher intellectual horsepower
• 1:10
  than the average bear super chats, all that stuff.
• 1:13
  Never expected, always appreciated.
• 1:15
  And without further ado, let's dive into what's going on.
• 1:18
  Let's talk about a silver shortage.
• 1:21
  Oh my gosh, we're going to go first out to our friend at
• 1:25
  silver trade who tells us the Comex silver freefall is
• 1:31
  continuing. Another 3,000,000 oz removed
• 1:35
  from the COMEX Silver vaults on Tuesday.
• 1:39
  And look at all these people who withdrew Asahi, Branks, Branks,
• 1:43
  CNT, that's a big company. By the way, IDSDIDSD Malka Amit
• 1:50
  registered OK, and another 883 thousandths withdrawn from by
• 1:56
  MTB in Gray. The big important number, the
• 1:59
  total comex registered silver. That's the important number
• 2:05
  because that's the silver that can actually be used to satisfy,
• 2:10
  excuse me, the futures contracts.
• 2:12
  It is now down to 87,000,000 oz. So we've got stress there.
• 2:19
  But wait, there's more because Doctor Don Woods.
• 2:23
  Oh, this is one of the gurus, this guy.
• 2:26
  Oh, shoot, hold on a second here.
• 2:27
  Having some tech issues this guy doctor doctor, Oh, a doctor
• 2:32
  doctor Don Woods, super respected big investor in the
• 2:36
  silver world. I read that he had like a lot a
• 2:39
  lot of money in Hecla mining, which is the United States of
• 2:42
  America, our oldest and largest silver mining company.
• 2:46
  But anyway, he put out this like this, this post that was what's
• 2:51
  that word viral the other day about what was going on in the
• 2:55
  silver market when we were getting smashed down and who was
• 2:58
  the big banks and why they were smashing it down, but that they
• 3:01
  were really taking delivery and look at this.
• 3:04
  This is fascinating what he came up with just yesterday.
• 3:09
  Here we go. He said a person asked rock.
• 3:13
  That's the ex Twitter AI thing. To summarize my post about the
• 3:18
  CME clearing daily delivery notices.
• 3:22
  This is what Grok said. Grok said in orange.
• 3:25
  The big banks like JP Morgan and Bank of America are taking
• 3:30
  delivery of massive amounts of physical silver real bars from
• 3:36
  the futures contracts. Hundreds of millions worth at
• 3:40
  about $83 per oz. Which is why he was speculating
• 3:45
  they drove the price down. They often short the paper
• 3:49
  silver price with Futures Trading to push it down
• 3:53
  temporarily so they can buy the real metal cheaper.
• 3:57
  Then they hoard it betting that prices will rise big later.
• 4:02
  Classic big player move. So guys, look, you know it's
• 4:07
  been proven over decades and decades.
• 4:10
  People have spent their entire careers countless hours proving
• 4:14
  the fact that the Comex and the LBMA let's say, occasionally
• 4:19
  placed some unfair influence on the silver and gold price, but
• 4:24
  especially silver. And Doctor Don Woods, his
• 4:27
  original post got like 10's and 10s of thousands of views was
• 4:31
  pointing out what was going on. Now, of course, we know there's
• 4:34
  speculation that this big financial company in New York,
• 4:38
  Jane St. might also be exerting some unfair influence.
• 4:43
  They've gotten some accusations levied against them from like
• 4:47
  the India from indias Stock Exchange, their big bank index.
• 4:52
  People in the crypto world have accused them of possibly
• 4:56
  manipulating the Bitcoin price and of course with what is a
• 4:59
  Terraform Labs in that big massive the collapse that there
• 5:04
  was they there. There's actually a lawsuit from
• 5:07
  the bankruptcy attorneys claiming that Jane Street may
• 5:11
  have engaged in some insider trading.
• 5:14
  And we know that Jane St. also now has like the biggest
• 5:19
  position as of the most recent filings of anybody in the
• 5:23
  SLVETF, which alone people are suspicious of that's from
• 5:29
  BlackRock. I mean, is the silver world, is
• 5:32
  it just crazy or what? I mean, how can there not be
• 5:37
  manipulation in the price? And at the end of the day, we're
• 5:41
  going to wrap it up with this on this subject.
• 5:43
  We got a lot more to cover at the end of the day, right?
• 5:46
  Mother Nature always wins, right?
• 5:48
  Mathematics shows no forgiveness on the altar of truth.
• 5:52
  You can move things around, do whatever shell games however you
• 5:56
  want to say. But the end of the day, guys,
• 5:57
  the reality comes true. And we're going to have that
• 5:59
  reality in the silver and gold markets.
• 6:02
  We're going to go to China next. Before we do that, let's say
• 6:05
  thank you for real silver. Oh my gosh, imagine that real,
• 6:09
  actual silver like this. There he is, my favorite.
• 6:13
  He wants to say hello. The backside of the Buffalo
• 6:17
  round. This is real silver from a real
• 6:20
  silver mint in the United States of America in Las Vegas, NV
• 6:25
  channel sponsor First Mint and they've got a lot more products.
• 6:28
  Other silver rounds, silver bars, all types of things.
• 6:33
  What's interesting about First Mint is number one, they are a
• 6:36
  silver specialist mint. That's all they do is silver and
• 6:40
  they do it right. And they actually get their
• 6:43
  silver directly from the ground because they're owned by First
• 6:46
  Majestic Silver, the Keith Newmeyer's juggernaut silver
• 6:50
  mining company. So the silver goes from the mine
• 6:53
  to the mint directly to you. And people love First Mint.
• 6:58
  I cannot. I had no, it's been about a year
• 7:01
  that they sponsored my channel. I, I, I've been overwhelmed with
• 7:05
  positive feedback from you, the basement dweller community, and
• 7:08
  I'm so grateful to you for giving that feedback.
• 7:11
  And the first meant for providing such first Class A
• 7:14
  real premium retail experience. They do have a discount code
• 7:18
  VIPRB. And I'm going to tell you about
• 7:20
  this in a second too, guys. My new favorite lotion.
• 7:25
  We'll get to that in a little bit, but let's go to China and
• 7:27
  see what's happening in China. We know what's going on at the
• 7:30
  Comex with the stress. We're not going to call it a
• 7:34
  squeeze. We don't want it to be a
• 7:35
  squeeze. That's the secret.
• 7:38
  OK, we do want a silver squeeze, but we don't want it right now.
• 7:42
  We want the squeeze to happen when silver's already at 120, a
• 7:46
  $140 per oz. But there's definitely stress in
• 7:50
  the market, and that's also being manifested in our friends
• 7:54
  in China. Let's go see what's happening in
• 7:57
  China with their silver situation and we get this from
• 8:04
  the gold silver HQ, another whopping not just anything
• 8:12
  whopping 7.5% of silver is out of the vault in China in one day
• 8:19
  empty vault in two weeks at this pace.
• 8:23
  OK. And he shared the post from our
• 8:25
  good friend, and I'm going to explain this to you right now,
• 8:27
  the Oriental Ghost. Again, guys, for those of you
• 8:30
  who are new, this is the Shanghai Gold Exchange and the
• 8:34
  Shanghai Futures Exchange. These are the Chinese metal
• 8:38
  markets. Well, there's one little
• 8:40
  difference that we need to point out, and that is that the
• 8:41
  Shanghai Gold Exchange basically requires traders to have the
• 8:45
  physical metal before they trade it.
• 8:48
  It's their spot market. You must have though, like 99%
• 8:52
  of the trades, from what I understand, are backed up by
• 8:55
  physical metal. That's a little different than
• 8:58
  the COMEX in the LBMA, the London Bullion Market
• 9:01
  Association, who we've been leaving alone lately.
• 9:04
  Anyway, as you can see, last night the silver price closed at
• 9:09
  $95 per oz. The spot price in China on the
• 9:13
  Shanghai Gold Exchange and the futures price on the futures
• 9:18
  futures exchange, which all underlined there for you, closed
• 9:21
  at 97. That's not why we're here.
• 9:24
  Hold on, we are here. Let's get rid of everything for
• 9:28
  this. Wow, 22 kilograms dropped.
• 9:33
  OK, the total inventory that they have right now in the
• 9:38
  Shanghai Futures Exchange of silver, OK, silver vaults, is
• 9:44
  272,000 kilograms. Just so you know, there's about
• 9:49
  32 Troy oz per kilogram. If you multiply 272,000kg * 32
• 9:56
  Troy oz, you come to 8.7 million ounces of silver.
• 10:03
  This is a critical situation, right?
• 10:06
  I mean, guys, the entire Shanghai Futures Exchange silver
• 10:11
  Vault has 9 million oz. I mean, heck, at the COMEX, they
• 10:15
  trade that in like 1 minute when they want to smash the price
• 10:18
  down. That's hardly any silver.
• 10:21
  So not only do we have big issues at the COMEX when it
• 10:25
  comes to a silver, what's the word stress?
• 10:28
  I'm gonna, I don't want to over, I don't want to over dramatize
• 10:31
  things. Silver stress.
• 10:32
  But we also have issues at the LBMA.
• 10:35
  And I would say I don't know how you feel about it.
• 10:38
  We got big issues at the Shanghai Futures Exchange as
• 10:43
  well. We're going to talk about the US
• 10:44
  military next. Hey, you know what?
• 10:46
  I'm not a lotion guy and I'm not being paid to say this, but this
• 10:50
  company, Sugar Mountain Trading Company, sent me a box, OK, with
• 10:55
  a bunch of they're like a high end handcrafted soap company in
• 10:59
  Kentucky with some lotions and some different soaps and all
• 11:03
  kinds of stuff. And it's all awesome.
• 11:05
  But I'm, I'm going to tell you this is called their cherry
• 11:08
  almond lotion. And I just absolute can you see
• 11:11
  that? See that I want that focus.
• 11:13
  Well, anyway, there it is, Cherry, cherry almond lotion and
• 11:19
  I think I'm addicted to this stuff.
• 11:20
  I actually put it in the powder room upstairs and earlier today
• 11:23
  I was like, you know what, I'm taking that stuff to the
• 11:26
  basement. You can check them out here.
• 11:28
  Let me show you their website real quick.
• 11:30
  Great people, wonderful, wonderful, nice people.
• 11:34
  And uh oh, hold on here, hold on.
• 11:37
  There we go. Here it is.
• 11:38
  Sugar Mountain Trading Company. They're in Kentucky.
• 11:40
  They're handmade soap. They make like, you know, this
• 11:42
  high end different soap. There's cherry almond soap.
• 11:45
  What do you know, but I love that cherry almond lotion.
• 11:49
  They've also got this product called Hillbilly Booty Wash,
• 11:52
  which I got to be honest, I've been using it in the shower.
• 11:58
  It's liquid soap. They have liquid soap, bar soap,
• 12:01
  lotions, all kinds of stuff. I'll tell you more about the
• 12:03
  Hillbilly Booty Wash at a different at a later date.
• 12:06
  But thank you for sending those products.
• 12:07
  I've been enjoying them. So it's the whole family, the US
• 12:10
  military. What?
• 12:12
  What have they done? Hold on here.
• 12:14
  Let's get off the hillbilly booty wash.
• 12:16
  Here we go. Breaking news.
• 12:20
  What does this tell us about precious metals?
• 12:22
  What does this tell us about natural resources?
• 12:25
  Because what we heard was that the US military asked mining
• 12:29
  companies on Friday to help boost domestic supplies of 13
• 12:34
  critical minerals used to make semiconductors, weapons and
• 12:39
  other products. That was the US military.
• 12:42
  The scramble for minerals is in full force.
• 12:45
  And then I was like, well, yeah, right.
• 12:47
  Where's this from? This is the source of this
• 12:50
  article is from Reuters. If I click on this, it pulls it
• 12:54
  up very quickly. But then we hit a paywall.
• 12:57
  So yeah, the Pentagon apparently, no, I don't want to
• 13:00
  subscribe and it won't let me go anyway.
• 13:02
  The Pentagon was after the US mining sector to provide more
• 13:07
  critical minerals. Now, I don't know if silver was
• 13:10
  specifically included in that list, but we knew.
• 13:13
  We do know that silver is now included from the US Geological
• 13:18
  Association on the list of critical minerals for the United
• 13:21
  States. And you know, and I know all the
• 13:24
  reasons why. Let's go back to China, man,
• 13:27
  guys. And this is about gold.
• 13:28
  But when we talk about gold, this relates directly to silver
• 13:32
  as well and demonstrates to us that we are in nothing short of
• 13:35
  a new paradigm right now, in my opinion, for precious metals.
• 13:40
  Because get a load of this out of China.
• 13:44
  Oh wrong 1 hold on here. Here we go.
• 13:50
  We get this from make Gold great again.
• 13:52
  Breaking, breaking, more breaking news. 2 of China's 4/2
• 13:58
  of the four biggest banks just sold out of an investment grade
• 14:03
  gold bars. One of them, ICBC is the largest
• 14:08
  bank in the world by assets. And who does this come from?
• 14:13
  But no one other than our friend the Oriental Ghost, he said.
• 14:16
  Justin investment gold bars on the apps of the Industrial
• 14:19
  Commercial Bank of China, which is I guess the biggest bank in
• 14:23
  the world, and the Agricultural Bank of China, ABC are sold out.
• 14:28
  The Bank Communications app also does not sell investment gold
• 14:32
  bars, ICBC and ABC we almost covered like a third of the
• 14:38
  alphabet. There are the one are the one of
• 14:41
  the four largest banks in the world.
• 14:43
  So those are two out of the four largest banks in the world that
• 14:47
  are telling us that uh oh, sorry guys, the streaming software is
• 14:52
  acting up today. Hopefully you're still there.
• 14:55
  Hopefully you can see me and hear me it's I love it when you
• 14:58
  come join me in the basement. I'm the luckiest guy in the
• 15:00
  world. Thank you for being here.
• 15:02
  Don't forget to subscribe now. Let's move on.
• 15:05
  Let's talk about Felix. This is big because what's
• 15:08
  happening right now in the world of precious metals is that look,
• 15:12
  you and me in the in the core group, you're part of the core
• 15:16
  and I think we can all even the new people are part of the core
• 15:19
  group. We were were the Trail Blazers,
• 15:21
  we were the the diehards that went through the valley of
• 15:25
  despair in the world of precious metals.
• 15:27
  But now this whole new layer of people are waking up and
• 15:32
  influential people. One of which I'm going to
• 15:36
  mention now is a guy named Felix.
• 15:38
  And he had some stuff to say about silver in particular.
• 15:41
  If you don't feel warm and fuzzy about silver after you hear
• 15:45
  this, well, then maybe, I don't know, maybe you want to invest
• 15:48
  in, I'm not sure, whatever Apple computer stock.
• 15:53
  Let's go out and see what Felix has to say.
• 15:57
  Here is Felix. This hit me.
• 16:03
  This hit me hard. 70% of the world silver is found by
• 16:08
  accident. Nobody is mining it on purpose.
• 16:13
  It's a leftover from digging up copper and zinc just comes out
• 16:18
  of the ground and along for the ride.
• 16:20
  OK, The same material that's in every phone, which he's talking
• 16:25
  about silver, every electric vehicle and there will be much
• 16:28
  more. Every solar panel in every
• 16:31
  missile on earth. I'm going to I'm going to move
• 16:34
  on quickly, but I want to emphasize that, guys, 70% of the
• 16:38
  world's silver is mined as a by product or is he said by
• 16:42
  accident. OK All right.
• 16:45
  So when when people talk about a silver shortage, it's not like
• 16:49
  there's a bunch of silver mines out there that can turn a dial
• 16:52
  and start making more silver. He says they continue even if
• 16:57
  silver prices triple tomorrow. You can't increase the supply.
• 17:01
  Ramping up silver means flooding the market with millions of tons
• 17:05
  of unwanted copper in lead. The economics break in.
• 17:09
  Building a new dedicated mine takes 8 to 12 years from
• 17:14
  discovery to production. Remember Phillips Baker, the ex
• 17:18
  CEO of Hecla Mining, America's oldest and biggest silver mining
• 17:21
  company, said that there's basically no chance that more
• 17:25
  silver can come from the mining sector.
• 17:27
  Until the year 2030, the world consumed 800 million more oz
• 17:36
  than it produced over the last six years.
• 17:38
  I know we've heard that about 800 million times.
• 17:41
  Industrial buyers who used to keep three to four months of
• 17:45
  inventory are down to about a month now. 47 million oz were
• 17:50
  claimed for physical delivery from the Crime X in four trading
• 17:55
  days recently. That's 60% of available
• 17:58
  inventory in four days. Then then China in red
• 18:04
  classified silver as a strategic material and restricted exports.
• 18:11
  They refined 60 to 70%. That's a common theme. 70
• 18:15
  percent, 70% of the world silver is mined on accident and 70% of
• 18:20
  the world silver is refined in China.
• 18:24
  And China is saying no, no, no, no silver leaves China anymore.
• 18:29
  OK, the export restrictions, 1 country, 2/3 of the world's
• 18:34
  refining just decided to keep it in green.
• 18:37
  Supply can't respond. Demand is accelerating,
• 18:40
  stockpiles are collapsing. Remember, we talked about that
• 18:44
  all the time. There's like the silver rainy
• 18:47
  day fund. There's only so much silver
• 18:50
  above ground. And I think it's like like the
• 18:54
  equivalent of the size of like half the White House or
• 18:57
  something. I don't know.
• 18:59
  You know, those pictures, those graphics people put out.
• 19:01
  But it's not a lot in every year like Felix just said, right?
• 19:06
  For the last six years straight, we've had people borrowing from
• 19:09
  that silver raining day day fund.
• 19:11
  It will. Stockpiles are collapsing and
• 19:13
  the biggest supplier just cut off exports.
• 19:16
  He says. I watched the COMEX delivery
• 19:18
  data in vault draw downs on trade vision.
• 19:21
  When 60% of available inventory gets claimed in four trading
• 19:24
  days, the supply math has an expiration.
• 19:29
  Yeah, this can't go on forever. It's interesting times.
• 19:34
  OK, thank you to our good friend Felix.
• 19:38
  And on top of that guys, there's even more good news about the
• 19:42
  precious metals. We're going to get to that next
• 19:44
  after I say thank you to channel sponsor First Mining Gold.
• 19:49
  There are gold development stage company in Canada.
• 19:52
  They have two huge multi million ounce development stage
• 19:56
  projects, spring poll in Ontario and Duparquet in Quebec.
• 20:01
  They also have a third project and some other interest in other
• 20:04
  projects. But they also have a third
• 20:05
  project called Cameron, which also has around 1,000,000 ounces
• 20:08
  of gold in the ground. You aren't going to find many
• 20:12
  companies with massive development stage gold projects
• 20:17
  in good jurisdictions like Canada.
• 20:20
  You can learn more about the company at firstmininggold.com.
• 20:24
  Please remember that no matter what I talk about the price of
• 20:26
  gold, the price of silver. Relationships, good smelling
• 20:30
  lotions, whatever it is. I'm not a financial advisor, I'm
• 20:34
  not a relationship advisor, I'm not any of that.
• 20:37
  Always do your own research on any decisions, decisions you
• 20:41
  make, financial or otherwise. OK, let's move on to OK.
• 20:46
  This is why we can feel even better about what's happening in
• 20:51
  the metals right now. And then we got the big big
• 20:54
  kahuna. OK Tavi Costa Geopolitical risk
• 20:58
  accelerate. Central banks accumulate gold
• 21:01
  sovereigns and yes, sovereigns building strategic resource
• 21:06
  reserves. No, no major new metal
• 21:09
  discoveries being made, no large scale producing projects coming
• 21:13
  online, countries forced to cut rates to sustain their debt.
• 21:18
  None of us own enough metals and miners in this chart guys is the
• 21:23
  is the absolute proof of what's happening happening right now in
• 21:27
  the world. This also applies to silver.
• 21:31
  This also applies to copper as well.
• 21:34
  There's no new big discoveries being made worldwide.
• 21:38
  This chart is specific to gold, but look at this.
• 21:41
  OK, please 2003, 2024, zero major discoveries made.
• 21:48
  This is the future supply of gold.
• 21:52
  Look back here all the way back, right?
• 21:55
  If you go all the way back to what, 2012?
• 22:00
  That's what is my math, right? Can I figure that out?
• 22:03
  Hold on, help me. How many years would that be?
• 22:05
  That would be 14 years. We've had minuscule levels of
• 22:10
  new major gold discoveries made. The important thing to remember
• 22:13
  here, this represents the future supply of gold.
• 22:18
  And the same thing can be made, can be said about silver.
• 22:22
  When we look back here, look 28. I mean, what year was that?
• 22:26
  That was a bonanza, year 1995. But now, woo, down, down, down
• 22:31
  she goes. There are fewer discoveries
• 22:34
  being made. And the reason why.
• 22:36
  And let's talk about silver for a second.
• 22:38
  Think about it. Think about the silver price
• 22:41
  over the last 10 years, 20 years, 3040, all the way back to
• 22:45
  maybe 1971, OK. The price of the metal has been
• 22:49
  artificially suppressed lower. There's that memo that came out
• 22:55
  in 1974 when they were setting up the futures markets where
• 22:58
  they said, Oh yeah, the futures markets will be great because we
• 23:01
  can induce volatility into the precious metals prices.
• 23:04
  And that will discourage everyday normal people, right,
• 23:08
  That don't that don't want to dig in and really learn about
• 23:11
  what's going on. It will discourage the general
• 23:13
  public from owning precious metals.
• 23:16
  Anyway, I digress. With silver over the last, let's
• 23:20
  just say 25 years, if you believe, which is my belief, you
• 23:25
  can believe whatever you want, that the silver price was kept
• 23:27
  artificial. There was no major financial
• 23:31
  incentive for anyone to really discover, explore, look for new
• 23:37
  silver deposits. There were very few people doing
• 23:41
  it. I think of like Galen McNamara,
• 23:43
  a number of you know, the the Keith Neumeyer, right?
• 23:48
  I mean, like very few like people that were that were had
• 23:51
  great foresight, OK? And people like us that were
• 23:55
  very involved in the silver community, but nobody else
• 23:57
  cared. So the point is that that's the
• 24:00
  future supply of silver or any of these metals and it's just
• 24:04
  just just not there. OK.
• 24:06
  All right, guys, thank you for joining me today down here in
• 24:09
  the basement. OK.
• 24:10
  We got a lot to look forward to with these metals.
• 24:13
  The supply, right? Is it minimum under stress?
• 24:17
  Whether we look at the comments, the LBMA or we go over to China,
• 24:20
  No matter how we slice it or dice it, we are in good shape.
• 24:24
  As we move forward and more and more people are waking up to
• 24:29
  what's going on, no matter what ratios we look at, OK, whether
• 24:34
  you look at the number of the percentage of people that own
• 24:37
  the metal, how the mining stocks compared to the overall market,
• 24:41
  there's good things heading our way.
• 24:44
  I want to, I want to say thank you for joining.
• 24:46
  Please subscribe to the channel. I want you to come back.
• 24:48
  I hope you enjoyed your time down here in the basement.
• 24:51
  It's a big deal. Your time is valuable.
• 24:54
  Take care and I'll see you and yes, I see you.
• 24:57
  I'll see you next time. Bye, bye.
• 25:00
  Have a great day.