Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / SILVER STACKERS 🚨 ALERT! 🚨 --U.S. Congresswoman BUYS Silver Stock -- (GOLD & SILVER Price)

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SILVER STACKERS 🚨 ALERT! 🚨 --U.S. Congresswoman BUYS Silver Stock -- (GOLD & SILVER Price) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Big Russia silver news story, Russia buying silver.
0:04
We're going to dive a little deeper into that and see what it
0:07
means, the reasons why that's such a huge deal.
0:11
But did you hear the other big story we missed this one.
0:14
Apparently it happened a month ago, but one of our
0:18
congresswoman women here in the United States from Florida is
0:22
buying stock in a silver mining company.
0:26
That's big news on several levels, and there's a big
0:29
reasons why we want to pay attention to it.
0:32
Let's dive right into this one, by the way, before we do that.
0:34
Thank you. Yes, you one and only you.
0:38
Monday morning, we got a lot to talk about silver, gold, but
0:41
it's a big deal. You're here.
0:42
Welcome to the basement. We're going to have a great time
0:45
this morning. We also have big news out of the
0:47
Middle East about precious metals in particular and a whole
0:51
lot more to cover. But thank you for being here.
0:54
Please give this a thumbs up and if you could subscribe to the
0:56
channel, that would be greatly appreciated.
0:59
But let's talk about what is going on with this US
1:04
Congresswoman making an investment into silver.
1:07
There she is. Debbie Wasserman Schultz.
1:11
She's a congresswoman from Florida.
1:14
But what makes this very interesting, this is from the
1:18
Nancy Pelosi stock tracker, is that this Wasserman Schultz has
1:24
invested into the silver sector. Welcome to the basement.
1:30
What's her name? Debbie.
1:34
I told you there's more women joining the stacking community,
1:36
but now we have a congresswoman. But why is that a big deal?
1:40
OK, she bought shares and Hecla Mining, that's the oldest,
1:45
biggest silver mining company in the United States of America.
1:49
Why is it a big a big deal? Here's some reasons pointed out
1:53
here. OK.
1:55
She was the second best political trader in 2022 per the
2:01
Unusual Whales website. Guys, it's a known fact that
2:05
these politicians and that's why there's this Nancy Pelosi stock
2:09
trader stock tracker that they do and they they trade on inside
2:14
information. There's all types of uproar
2:16
about this, that it should be illegal, blah, blah, blah.
2:19
I don't follow it that closely, but I know that for a fact,
2:21
these politicians make stock trades.
2:24
There's even people who have dedicated their careers now to
2:27
following Nancy Pelosi, Rosie, because she and her husband have
2:31
made some incredible stock buys ahead of news stories that have
2:35
come out. So that website caught this.
2:38
Debbie Schultz, Debbie Wasserman Schultz by making an investment
2:42
in the silver OK #1 She was the second best political trader in
2:46
2022 #2. This was her first buy, new buy
2:51
since January. Wow.
2:53
Then it's under the silver mining sector #3 she just
2:57
happens to sit on the environment, on the Environment,
3:00
Manufacturing and Critical Minerals subcommittee.
3:05
The trade was filed in her son's name.
3:07
It was a $15,000 buy, but she's already up 10%.
3:11
Again, here's her picture down here.
3:16
And I believe, yeah, this, the quiver quantitative is who broke
3:21
the story initially. OK, it's a big deal, right?
3:26
Certainly when we have politicians in the United States
3:30
starting to invest into the silver mining sector in
3:34
particular, when we consider that we know, right, these
3:38
politicians sometimes, not always, you know, there's maybe
3:42
maybe there's one or two of them out there who are good, straight
3:45
up honest people. But it's generally accepted and
3:48
generally recognize that they can make trades and it really
3:51
should be illegal. I'm not going to go on a rant
3:53
about that, but they're able to make stock trades based on
3:57
information that they know that maybe people like you and I
4:01
don't know. So when Debbie Wasserman Schultz
4:07
makes an investment into silver, we're going to perk up.
4:10
It certainly can't hurt. OK, She's a Democrat.
4:14
I think she's not necessarily. And what makes it even more
4:17
interesting, I reached out to some of my contacts that are
4:20
well connected in the political situation in Florida.
4:23
And I asked this person, I said, is Debbie Wasserman Schultz.
4:27
Is she a friend of precious metals?
4:29
Is she an enemy of precious metals?
4:32
Or is she generally neutral? Because, you know, Florida, like
4:35
many of the states are working on, you know, legal tender
4:38
legislation and all that stuff. And he said she's generally,
4:42
which is ironic, not necessarily like a big pro precious metals
4:46
person. So that adds even more intrigue
4:49
and interest into this idea. Why is AUS, I ask you ask
4:53
yourself this question, Why would AUS congresswoman be
4:57
buying stock in a United States silver mining company?
5:01
And she just happens to sit on these committees that oversee a
5:04
lot of these areas that impact the mining sector.
5:10
That's something that we're going to keep an eye on and
5:12
something that could bode well for the future.
5:14
What about Russia? It's the biggest story, right?
5:19
It's getting a lot of play in the silver mining sector.
5:22
Russia, right, announcing that they're going to buy silver.
5:26
Why is this a big deal? Why do we need to pay attention
5:29
to this? All right, let's go out here.
5:32
We're going to run through a couple quick things here.
5:34
This came from silver Santa. He's a very popular personality
5:40
analyst on the Twitter community.
5:42
When it comes to silver, he calls himself the Silver Santa
5:46
Ho Ho ho. I need to talk to him and remind
5:48
him we're expecting $44 silver by Christmas.
5:52
But he says this is a game changer for silver.
5:56
If Russias decision to include silver in its reserve portfolio
6:00
becomes a broader trend among governments, it could signify it
6:04
could significantly impact demand and prices in the years
6:08
ahead. Silver may prove to be a crucial
6:11
element in the evolving global economic landscape, joining gold
6:16
as a hedge against inflation and a tool for nations seeking to
6:19
navigate financial challenges. The potential for silver to take
6:23
on a larger role in the world's financial system is now on the
6:28
table. And what?
6:30
And remember guys, right as we look at some examples as, as
6:34
what we've seen here in the last, let's say 3 or 4 years,
6:39
Russia is leading the way in the move away from the dollar.
6:44
We also know right, my gosh, in two weeks, 2 weeks, we're going
6:49
to have a massive bricks meeting going on in Russia, right?
6:53
There is speculation, speculation that at this bricks
6:57
meeting we're going to hear about a new settlement, trade
7:02
settlement currency, right, speculation and that it could be
7:05
backed by gold, could be backed by precious metals, could be
7:09
backed by other real assets. Is this a forewarning of what we
7:13
may hear about in a couple of weeks?
7:15
There are some people that are throwing water all over this
7:19
idea that we're going to get a gold backed trade settlement
7:22
currency. There are other people that are
7:24
presenting it as an absolute fact.
7:27
I think there's like a 40% chance that we're going to get
7:31
that 40% trade settlement currency that will be backed by
7:35
gold. That's my feeling.
7:36
Everybody's different. All right, we'll see how this
7:39
plays out. At minimum, what we do know and
7:42
this is where it get this is, this is the reason why it's so
7:45
exciting about what's going on with Russia and with the BRICS,
7:49
Brazil, Russia, India, China, South Africa, right?
7:52
Why is it a big deal? Because best case scenario,
7:57
we're going to hear about a gold backed, a silver, but not maybe
8:01
silver, maybe other real asset backed trade settlement
8:04
currency. That's the, that's like
8:06
everybody thinks that's the, the, the Holy Grail of what
8:10
could happen. I got even better news for you.
8:13
Even if they don't do that, those countries are still #1 de
8:19
dollarizing. That's a fact.
8:21
That's a statistical fact. They are de dollarizing.
8:24
But #2 even if they don't initially set up a gold standard
8:29
type system amongst their countries, they're still going
8:33
to use gold because they may not like the dollar, but they don't
8:36
like each other's currencies either.
8:39
So gold is emerging, silver, right?
8:42
We're hearing about Russia is emerging right, as the
8:46
powerhouse backing, right what people want.
8:50
This happened during the the previous world wars, during
8:53
World War One and World War 2. You know, if the British wanted
8:57
to buy weapons from the United States, if any country, right,
9:01
we demanding gold and the world's pretty much at war right
9:08
now and countries are demanding gold, right?
9:11
If, if, if China wants to buy oil from Saudi Arabia, guess
9:16
what, Saudi Arabia sends oil to China.
9:20
China says, here you go, here's your Chinese yuan and Saudi
9:24
Arabia's like, we don't want this crap, excuse my language.
9:27
They go immediately to the Shanghai Gold Exchange.
9:31
We got to go out and check out the price of gold and silver.
9:33
And I know it's a bad morning for the silver price.
9:35
We'll talk about that. But they go directly, once they
9:38
get that yuan for the oil they sold the China, they go directly
9:43
to the Shanghai Gold Exchange and convert that yuan into gold.
9:47
Cold. Go figure.
9:49
Right, guys? The world is changing right
9:52
below our very feet. Let's go take a quick look
9:54
because this one bears repeating.
9:57
This will put a smile on your face.
9:59
Wrong one. Hold on here.
10:00
Let me make sure we didn't have anything else down here.
10:04
Oh, there's Russian silver. I never saw that.
10:06
Have you seen that imperial Russian seal?
10:09
One ounce silver bar, apparently.
10:11
I don't know if that's official Russian silver.
10:14
Oh wow, look at that man that's pretty cool actually.
10:18
Silver Santa. OK, let's go take a look at
10:21
this. Vlad kicks off the new silver
10:24
train. There a train trend.
10:27
There's Vladimir Putin love him or hate him, this is not a
10:29
political show, but man, look at his he's kicking off the new
10:33
silver trend with his silver suit.
10:35
Russia's central bank is the 1st to buy silver.
10:39
OMGI mean it is a big deal guys that we have a central bank
10:45
right a government buying silver.
10:49
The silver market is very it's very you know, it's like I've
10:53
shared this, I've shared my heart with you.
10:54
I'm a very sensitive, emotional person.
10:57
You can ask my mommy. She might be on the live stream
11:00
here. I always have been silver.
11:02
That's why I think I love silver so much.
11:04
Silver's the same way. Silver's, the silver market is
11:07
very sensitive, very delicate, right?
11:11
You know what I've learned over life as I've gotten older?
11:13
That not to worry so much about whatever you've been through
11:16
that in life, not to worry so much about what other people
11:18
think of you. And I think our friend silver is
11:21
about to do the same thing, right?
11:23
Our friend silver is about to break out upon its own to get
11:27
some courage and move much, much higher.
11:30
It's going to be interesting to watch as this plays out.
11:33
Let's go over here to 0 Hedge. Some very critical information
11:38
in this article Will Russia, Russian buying drive silver
11:44
beyond $50? A report from the Russian news
11:49
agency Interfax last week reveals that Russia's plans to
11:53
substantially increase its precious metals reserves in the
11:58
coming years. The report states that Russia's
12:00
state fund plans to acquire gold, silver, platinum,
12:05
Palladium, and gemstones. Russia's decision to add silver
12:09
to its reserves distinguishes it from most other central banks,
12:13
which have largely focused on accumulating gold while
12:17
overlooking silver. Along with several other bullish
12:21
factors. Russia's silver purchases could
12:24
be a key driver in pushing the price to $50.00 and beyond.
12:28
What do you think about this, right?
12:31
Send me an e-mail, leave a comment in the comment section.
12:34
We, this could be again, right? We talk about, I've heard that
12:38
guy Jeff Christian from CPM group.
12:41
I've listened to him a couple of weeks ago.
12:43
He said what's going to drive the silver price?
12:45
And at that point he was calling for higher silver price.
12:48
He said what is going to drive the silver price higher in 2025
12:51
is investor demand. Everybody says that I think we
12:58
could lump the Russian government.
13:01
I think they're a pretty darn big investor, right?
13:03
I mean, do you agree with that? I, I think it's pretty much a
13:08
fact. If the Russian government starts
13:10
buying it again, so critical to understand the silver market is
13:16
absolutely delicate and sensitive.
13:19
It's not going to take a lot to push it out of balance.
13:23
Here's from Will and here's the thing.
13:24
We read this yesterday. It's in black and orange.
13:28
Russian Fin Min Fen proposes to keep spending on precious
13:31
metals. If you go down to that last
13:33
sentence that says the plan is to acquire gold, silver,
13:36
platinum and Palladium. We talked about that already.
13:38
Now, this author, who is I gave him some credit here.
13:44
This is from the bubble bubble report.
13:45
Jesse Colombo has some more very interesting things to say.
13:50
He says while the Interfax report, the Russian report did
13:52
not specify how much silver Russia's state fund plans to
13:56
acquire. This move is noteworthy as
13:59
Russia becomes one of the first countries to to diversify its
14:03
reserves into silver. With gold prices continuing to
14:08
surge, other nations may also consider adding silver to their
14:12
reserves, a trend that alongside numerous bullish factors could
14:16
drive silver to $50.00 an ounce and potentially much higher.
14:23
OK, now we're going to look at his chart below.
14:25
Be prepared. Get, get, get, get your smile
14:27
muscles warmed up. Hold on.
14:31
I got to say hi to everybody. 500 people on a oh, hold on on a
14:35
Monday morning welcome basement to others.
14:37
Thank you to the moderators. I see Jake from Jake's custom
14:40
parts. I know Annie Oakley.
14:41
I see her silver Susie and big time the silvershire.
14:45
Sometimes I forget, but every single live stream is made
14:49
special due to the due to the hard work of our moderator.
14:52
So thank you guys, but get your smile muscles ready smile with
14:56
me. I know it feels good.
14:57
Feels good to give thumbs up and subscribe to the channel.
15:01
But you're here for good news about silver, and I think I got
15:04
some for you. All right.
15:05
Oh boy. Now I need to find my place.
15:07
There it is. Next paragraph.
15:10
And then, And then you can smile.
15:11
The latest news from Russia reinforces the technical chart
15:14
patterns I've been tracking. Again, this is Jesse Colombo,
15:19
which suggests that Silver could reach 50 and beyond in the near
15:23
future. In a recent article, I
15:25
highlighted how Silver's monthly chart reveals a breakout from a
15:30
massive 2 decade long triangle pattern.
15:35
This breakout signals that silver is on the verge of a
15:38
powerful bull market. All right Jesse, we need $44.00
15:45
silver by Christmas. Are you guys ready for the
15:47
chart? Here it is.
15:48
Smile, right? That's a triangle pattern.
15:52
Some people call the wedge pattern whatever.
15:54
This goes back all the way to 2002.
15:57
So this is 20, almost 25 years of data, right?
16:00
There's our $50 high back in 2011.
16:04
See that triangle, guys? See how we broke out right
16:08
there? We're above that now.
16:10
That's very bullish. Now take a deep breath, have a
16:14
big smile because this alone is very good news for the silver
16:18
price. But wait, there's more.
16:22
This this what you're seeing right here is embedded within
16:26
that. What is it?
16:28
50 year cup and handle formation.
16:31
Think about that triangle. Let me see if I can quickly,
16:35
quickly get us back to. Oh, boy.
16:38
Hold on here, guys. Stay with me.
16:43
Well, you know what? I'll just bring it up.
16:44
You can see all the slides. There's a trip down memory lane.
16:50
Hold on. Here we go.
16:52
We're almost there. We're almost there and we are
16:58
not there. Uh oh.
17:00
The live stream is is disintegrating right before us.
17:04
Where did it go? Darn it.
17:07
There's Susie. All right, Well, let me just
17:11
here we go. We'll look at this, that
17:14
triangle and this is in Canadian dollars, but that same, same
17:20
thing in U.S. dollars. Let me make sure I don't have
17:23
this in U.S. dollars. There we go.
17:26
There's silver in U.S. dollars. See the big cup, right?
17:30
Go back to about 1980, when silver did get to 50.
17:33
This is probably like weekly or monthly closing prices.
17:36
See the big giant cup between 1980 and 2011.
17:42
And then the handle is on the right, OK.
17:45
And that chart that we just looked at is embedded within
17:51
that handle, which makes it even more unbelievable bullish for
17:58
for our as as we move into as we move into the coming months,
18:03
quarters and years. It's going to take a little
18:05
while, but it will happen. Trust me, it will happen.
18:09
Next, we're going to talk about crazy data, something that
18:12
nobody's talking about that is super, super supportive and good
18:16
for the gold price and the silver price.
18:19
It's about the Middle East, but we got to go check on the silver
18:22
and gold price right now. And I got to give you a little
18:24
pep talk. Get your smile mile muscles
18:26
ready. OK, earlier this is not updated
18:30
information, but silver was down 42 cents.
18:32
I'm going to press the the pin backs magic triangle there in
18:35
one second. But earlier silver was down
18:38
almost $0.70 in the spot market. So let's press this and oh boy,
18:44
I'm not. OK, well, all right, it got a
18:46
little better, $0.37 gold down $9.
18:51
I'm gonna say thank you to channel sponsor Pembex, and then
18:54
I'm gonna tell you why You do not need to be upset about a red
18:58
day in the gold and silver market.
19:00
But if you think about this, if you were thinking about buying
19:02
some silver or gold on Friday and you buy it today, well,
19:05
you're getting quite a discount. I always buy my silver and I
19:12
have not really ever bought much physical gold.
19:14
OK, I own a lot of gold mining stocks, but I always bought my
19:17
physical silver on red days because I always figured, well,
19:20
I did better than if I'd bought it the day previous.
19:22
Nonetheless, however you manage your purchases and we always
19:26
recommend prudent right dollar cost averaging if you do decide
19:31
that you want to own some physical gold, silver or
19:33
platinum. I'm not a financial advisor, but
19:37
you know I do personally advise against doing everything all at
19:41
once. That could work out to your
19:42
benefit or it could bite you in the behind.
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Nonetheless, whatever you decide, this live stream is made
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possible by the support of our sponsors.
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This includes pin backs. They've been a primary sponsor
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of Ron's Basement for over a year.
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OK, I've worked with them, You guys have worked with them.
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You guys have provided me with overwhelmingly positive
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response. In regards to your experiences
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with Pembex, which makes me feel even better about the company.
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I know, I know, I have had great experiences with them, but to
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hear it from you, the basement dweller community, thank you.
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So next time you're looking to buy some gold, silver, platinum,
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group metals, please give Pembex a shot and you'll find ultra
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competitive pricing, great selection and a company that you
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can trust. Where were we?
20:27
OK, I tell you what, basement dwellers, welcome.
20:31
OK, welcome. 500 of us early on a Monday and there's a lot more
20:36
to talk about. Nobody talks about the Middle
20:39
East, and they are another huge demand source for the precious
20:44
metals. And the reason why is they have
20:48
a ton, I mean a ton of U.S. dollars in the Middle East from
20:54
decades of dollar accumulation because of the Petro dollar.
20:59
And they're getting scared. OK, I'm going to read this to
21:01
you. The situation right now in the
21:04
Middle East is downright scary. OK, let's face it, right?
21:07
There's a lot of Western ammunition, a lot of Western
21:12
bombs being used and a lot of Western intelligence being used.
21:17
The countries in the Middle East are very scared right now.
21:21
I think in the US, we're not getting, we don't really fully
21:24
comprehend just how tenuous the situation is.
21:27
But all these countries that have all these dollars, right?
21:32
They're sitting there with these things and they're like, we're
21:34
getting scared, right? They are getting scared, OK?
21:38
The market hasn't even recognized how dangerous the
21:41
situation is from many perspectives.
21:44
OK. Demand for gold, the insiders,
21:47
let me, let me let me give you a reason why we need to keep an
21:51
eye on the Middle East. The insiders, the smart guys
21:54
that know how to analyze where all the demand, where the
21:56
markets, the COMEX and the LBMA and the import export are saying
22:01
that there are massive purchases of gold and silver going on from
22:06
the Middle East. OK, But it will continue to to
22:11
rise. Those Middle East countries know
22:13
how crazy the situation is. They're want to move out of
22:17
dollars and into gold and silver.
22:20
And OK, another example as to why your average Middle Eastern
22:27
person with a lot of money is, is looking at silver and gold.
22:32
They remember during their lifetime, I didn't know this.
22:35
Maybe you knew this, I didn't know this.
22:37
But a lot of these Middle Eastern countries had silver in
22:40
their money, just like the United States did.
22:44
When a lot of people who are now maybe our age, right, in their
22:46
40s, fifties, 60s, seventies, 80s, right, they remember silver
22:51
being in the money before. And they're tired.
22:54
They're tired, they're growing weary of the paper Fiat money,
22:59
so now they're looking to gold and silver.
23:02
Does that, does that sound familiar?
23:05
That's not happening on a large scale in the United States, but
23:08
from what I'm hearing, very well could be a major trend that's
23:14
starting to occur in the Middle East.
23:16
And don't forget, we don't, we're just, we're isolated here
23:20
in the United States. They're living in in a war zone,
23:23
war, war or whatever, however you say it, ozone conflict,
23:27
horrible. We don't like it, but but that's
23:30
what's going on. And that's on top of so we're
23:33
talking about we're talking about AUS congresswoman buying
23:37
silver mining stock and she's like one of the top inside
23:42
traders in the history of Congress tip.
23:46
We're talking about Russia's government buying silver.
23:50
We're talking about the Middle East starting to buy gold and
23:53
silver more more familiar guys. And we're in the middle of the
23:56
silver snowball, the silver we could have a silver squeeze.
24:01
Absolutely the COMEX and the LBMA, the paper markets that are
24:06
that are that are that are that are that are leveraged up.
24:08
There's like 400 somebody, you hear different numbers, 104
24:12
hundred, whatever paper claims on each one ounce of silver,
24:19
right? I don't know what the number is
24:20
for gold, but it's probably roughly as crazy.
24:24
These markets are, are delicate and and can be broken.
24:29
We know there's so much there's, there's a, there could be a
24:32
silver squeeze. I want to call it a silver
24:35
snowball, right? That's what US basement
24:37
dwellers, the silver snowball, right?
24:39
That starts at the top of the mountain and as it gains
24:42
momentum, it grows and grows and grows exponentially.
24:46
And what is that? You can only, you can only con
24:50
the laws of supply and demand for so long, right?
24:54
It only free market forces always prevail.
24:58
When I was in college, I actually studied for a whole 6
25:03
month period and it was before the Berlin Wall fell in
25:06
Budapest, Hungary. I study economics at Karl Marx
25:09
University. OK and didn't it was it was
25:12
right as the Berlin Wall was falling.
25:14
It was crazy what was going on, but it was still a socialist
25:17
country, communist the Russians are the Soviet Union still
25:20
existed and controlled it. I can tell you something, OK,
25:25
There were free market forces everywhere, whether you were
25:28
trying to buy whatever you were trying to buy, convert your
25:31
dollars. And what was it called?
25:33
The forint, I think at the time in Hungary, whether you were
25:36
buying food, whether you were buying booze.
25:41
How about a little booze back then?
25:42
That's back when I used to drag. Anyway, there was free market.
25:45
Free market always prevails and it will prevail against those
25:50
crooks at the Comex and the LBMA.
25:54
OK, And we can call them crooks because there are there are
25:58
silver warrior brothers and sisters of us basement dwellers
26:03
who spent decades proving that they manipulate down the price
26:08
of silver, that they manipulate down the price of gold.
26:10
So what will get the snowball going?
26:12
Don't forget there's there's the most recent data I read said
26:16
there's 590,000,000 ounces of silver that are sold naked
26:21
short. OK, those need to be bought
26:23
back. The people, the Costco crowd
26:27
that's buying silver and gold right now, it will only continue
26:30
to grow. Companies are going to freak,
26:33
right? Samsung, Apple, Tesla, when they
26:36
start to as the silver price starts to go, they will freak,
26:41
no doubt about it. OK, countries, Russia, Turkey
26:46
are buying, buying silver right now.
26:48
What if, what if Russia's just the first and other major
26:51
countries start to buy silver? The big money, the hedge funds,
26:55
the Ray Dalio's, the all these guys, Jeffrey Gunlock, whatever
27:00
that you know, they're, they've all spoken very positive about
27:03
gold. I don't have specific data as to
27:05
how much they bought or own or whatever, but you know, that's
27:09
also growing. And the big one, the cherry on
27:11
top, the big mystery box is the military.
27:16
We don't know how much silver is used by the military industrial
27:22
complex. Now, think about this.
27:25
We do know that in times of peace, they use a lot of silver.
27:31
But think about what's going on right now in the world.
27:34
I mean, think about, you know, the wars that are being fought
27:38
right now in the world, the amount of ammunition, advanced
27:43
electronics that are being used. So we only can imagine how much
27:47
silver is being consumed by the military industrial complex.
27:51
And there's no way to really know because all that
27:54
information is not Privy to the general public.
27:58
That's a fact. OK, So let's be ready.
28:02
Let's be prepared. It's a very, very interesting
28:05
time. And when we look at just the put
28:08
your get your smile, silver smile muscles ready, because
28:13
I've I've read a a brief recap. The fundamentals.
28:17
Do the fundamentals matter? Yes, right.
28:20
The silver price will eventually.
28:23
It always comes back to fundamentals and the
28:26
fundamentals are in our favor. We just talked about the
28:30
snowball, but let's talk about the unbelievable examples of why
28:35
the silver supply is going down, down, down, guys.
28:39
When supply goes down and demand goes up, the only one thing that
28:45
fixes that is a higher price. Have you heard that saying price
28:50
fixes everything? Are I mean, are you feeling this
28:53
with me? Help me out.
28:54
You know I'm doing my best here. If you think I'm wrong, send me
28:57
an e-mail. I'm always you know I'm wrong on
29:00
a regular basis. But but listen to this very
29:04
interesting. Silver output has declined
29:07
steadily since 2016 from around 900 million ounces to about 800
29:13
million oz. While at the same time the
29:16
deficits, the demand right have grown consistently.
29:20
What we're in our fifth year of a deficit right now.
29:24
The byproduct mines, I hear different data on this.
29:27
Some people say account for 80% of the silver supply. 80% of the
29:32
silver that comes out of the ground comes from other mines,
29:35
copper mines, zinc mines, lead mines, whatever it is that it's
29:40
not a silver mine that's producing silver mines only
29:44
produce 20% of the world's silver.
29:48
OK, right now here's a good data.
29:50
There's 750 silver mines in production, but less than 30 of
29:58
those are primary silver mines. That means only 30 of the 750
30:04
mines that consider themselves silver mines have a majority of
30:08
the metal that they produce being silver.
30:12
Changes in spot price will have this is where this is this is
30:17
critical changes in the spot price, right?
30:20
Changes in that price we just looked at at pin backs or
30:23
wherever you get your have little impact on silver
30:27
production, very little impact. OK, because because this was
30:32
mind blowing when I heard this. It takes around 15 years from
30:37
the point that a silver deposit is discovered 1515 years, 15
30:46
years from the time that a silver deposit is discovered
30:51
until it goes into production. And that's if they can get the
30:55
financing and and then you got to hope that what they thought
30:59
they discovered actually is there and comes to fruition.
31:03
Now usually it is the key thing to remember here is 15 years OK
31:10
remember most of the silver 80% of it comes from non silver
31:15
mines. So let's say.
31:17
Let's the silver price skyrockets to $60.00 an ounce
31:21
and suddenly everybody's like, we need to go search for silver.
31:24
We need to because nobody has been searching for silver over
31:29
the last 20 years. Very few companies, we can count
31:33
them on one hand, right? Suma Silver, I'm actually going
31:36
to be talking to the CEO of Suma Silver tomorrow, Galen McNamara.
31:40
They're, they're, they're drilling out in Nevada, a
31:44
BlackRock silver, which is not the same BlackRock as the
31:47
BlackRock that owns the SLV. It's a separate per company.
31:49
They're also in Nevada, a Dolly Bard and silver up in British
31:54
Columbia. Sean Kuhn Kuhn there.
31:56
But this is just silver elephant, right?
31:59
I just had John Leon down in Bolivia, right?
32:02
There are very few companies, very little money.
32:05
So when that 15 years, when that silver price skyrockets and
32:09
everybody goes crazy about silver #1 I think don't make any
32:14
financial decisions based upon what I'm saying.
32:16
But I think those companies that I just mentioned could skyrocket
32:21
because there it is a little bitty club of companies that
32:26
have had the courage and the foresight to be exploring for
32:30
silver over the last 5-10 years. Those companies could explode.
32:35
But and they've already, they'll be in kind of they've already
32:38
drilled, they've already, you know, they'll be further down,
32:41
way further down the line. The new companies that come
32:44
along, they don't even know if they're going to find silver
32:47
numero Uno, the number 2. Even if they do, it's going to
32:50
take 15 years. Now, what does that mean for you
32:53
and the soap? That means that means that when
32:57
the silver price does explode higher, when we're sitting here
33:01
talking about $80.00 per oz silver and that's going to
33:06
happen, you mark my word, right? I'm, I'm going to live that long
33:10
and we're going to be together, knock on wood, and we're going
33:13
to be talking about $80.00 silver.
33:15
They can't just turn on new silver production to feed into
33:19
the pipeline. Those copper miners and even the
33:22
new copper deposits that are deeper don't have as much silver
33:25
with them. Number one, that's besides the
33:27
point. But they're not going to say,
33:28
well, we need to, we, we can turn up our silver a little tiny
33:32
bit, But what that means is we could be in for a wonderful
33:37
decade or longer. And so, and, and if the, and if
33:41
the demand continues to go up like it has on top of it, Oh my
33:46
gosh, it's, it could be absolutely just a crazy good
33:51
time for us as silver investors. I mean, I think it's going to
33:56
happen. I think the facts, common sense
33:59
dictate that it will it that it will happen.
34:02
What else did I miss here? We barely talked about our
34:14
friends in India Today or China, OK.
34:17
So I mean, we talked about the fundamentals for silver.
34:20
We talked about Russia buying silver.
34:22
We talked about the Middle Easterners buying silver.
34:25
We talked about it's just been a silver centric show.
34:28
So let's talk about gold a little bit, but this is silver
34:31
as well. These China and India.
34:35
I heard this said in a in a way that I'd never heard before,
34:38
which I think is very encouraging for the precious
34:41
metals investor. You me, right?
34:45
I mean, you know, 700 of us on a Monday morning because we love
34:48
silver and gold. By the way, thank you for being
34:50
here. Oh, I missed the Super chat.
34:52
Hold on here. Thank you, Justin.
34:55
Hey guys, Super chats are super appreciated.
34:58
They do go a long way to help support the channel.
35:00
Never at all expected. I will always provide my content
35:05
to you for free. OK?
35:07
Super chats are a way you can say thank you, they're super
35:10
appreciated. But I want you to know, never
35:13
expected and please never with any money that you can't afford.
35:16
Justin, thanks for your news. Ron, you too buddy.
35:19
Thank you for that. Super nice.
35:22
We need to talk about Russia. I'm sorry, not Russia.
35:25
God, there's so many of these countries, China and India.
35:28
I heard it said this way. I hadn't thought about this.
35:31
And this is this is more good news for silver and gold.
35:37
Both India and China are becoming increasingly wealthy.
35:41
They have more consumer money. Their consumers have much more
35:45
money, and they love gold and they're increasingly loving
35:51
silver as well. OK.
35:53
But the key here is, is the the we've talked about this 1.4
35:57
billion times, but we'll talk about it one more time.
36:01
Both China and India have 1.4 billion people each.
36:05
That's great. OK, that's like 9 times the
36:09
population of the United States of America, right?
36:14
But what's critical to understand with both countries
36:17
is they are becoming wealthier and wealthier.
36:20
Hundreds of millions of people are moving from being poor to
36:26
being middle class to their middle classes are expanding
36:29
like crazy, especially in India. And we talked about the farmers
36:34
that are having a great year with silver.
36:36
We won't go down that path. But these countries love gold
36:40
and silver. But I didn't know this.
36:42
That guy, James Anderson, I saw this on a video he did over the
36:46
weekend is where I learned this from.
36:48
I found this chart on my own. It's readily available online.
36:52
But I want to give him credit cuz when I saw this, I didn't
36:57
realize this. Guys, look over there.
37:00
Am I on the screen still? I guess I can't pick my nose or
37:03
anything, right? OK, on the left is India down
37:09
there. Now look down there, See India
37:11
at the bottom? OK, India's consumption of gold,
37:16
748 tons. How much do they produce?
37:21
What's their domestic supply? 15 tons India consumes 50 times
37:30
more gold. OK then they produce and the
37:33
numbers in China aren't as drastic, but still I would say
37:37
very drastic. China consumes 900 and 10910
37:42
tons of gold and only produces a little under 400.
37:46
You know almost 3 * 2 1/2 times more.
37:51
These countries, not only, not only are they, are they in love
37:56
with the precious metals, right? But they're creating external
38:01
demand. Think about that.
38:03
And when we think about silver, my gosh, especially with India,
38:07
I think it's just it's even crazier what's happening within
38:12
their within their countries and their government when it comes
38:15
to a demand for silver. I mean, India is what was the
38:20
last month. I mean, it's just it's it's it's
38:22
mind numbing how much silver they're bringing into the
38:26
picture. All right, guys, let's go out.
38:28
It's been a hairy day in the gold and silver market.
38:31
Let's go out to our friends at pin backs and press the golden
38:34
triangle. So last we checked, we'll focus
38:38
in on silver was down 37 inch. Take a deep breath.
38:41
I'm going to update this. And now down 57 cents.
38:45
OK, Why is this OK? Why is it actually something
38:50
we're not going to be happy about, the fact that the silver
38:53
price is down by 2%, but not reason for us to be overly
38:59
concerned #1 as long as we stay above $30.00 for now, I'm happy.
39:06
We are building a base, a new platform, OK?
39:10
If we get down to 2928, my blood pressure goes up a little bit.
39:14
That's not necessarily a good thing.
39:15
But if we stay above that $3031.00 range and build a new
39:20
foundation, right now, you got people who are getting nervous,
39:24
Pervis, and saying, I got to get rid of my silver, I'm done, I'm
39:26
gonna sell, whatever, OK? And there's other market forces
39:29
at play. But what we've been doing is
39:32
consistently building the people that want to get out of silver
39:36
at $3132.00. And that's what's happening this
39:39
morning. You know, people react to
39:41
emotion and they get scared, which is the worst way to make
39:46
financial decisions. Trust me, I can tell you from
39:48
personal experience, right, emotion is not a good way to
39:53
make your financial decisions. Regardless, you got a lot of
39:59
people out there still who are thinking, oh, I better get out
40:03
of silver while I can't because it's going to, it's going to go
40:06
down. It's going to go down.
40:07
We're getting rid of all the people.
40:10
That want to sell at $3132.00 so that next time we come up, next
40:15
time we make a drive at that level, we're going to shoot
40:18
right through and we're going to get to that 34 down.
40:22
This is how it's going to this is how I foresee it happening.
40:25
I don't have a crystal ball. Don't make any financial
40:27
decisions based on what I'm saying.
40:30
But I think there's a better odds chance that this next time
40:34
we come up against 3232 fifty $32.75, it's we're going to eat
40:41
right through it, OK? And then we're going to go to
40:43
3435 and sit there for a little while and then we're going to
40:48
wake up and then like lickety split in a day, two days a week,
40:55
The silver price can move from 3435 to 4445.
41:00
We got it written on our Christmas tree, right, that it
41:03
could happen by December 25th. I don't know for sure, right?
41:07
And look, there's, there's there's a chance that we could
41:09
get back to 2650 silver. And you know what, that's great
41:14
because that's when I'm, that's when I said I would buy more
41:16
physical silver if silver ever gets to 2650 again in this
41:20
current scenario that we're living in.
41:22
But that's the way it's going to work.
41:24
What you've got that you've got to embrace the volatility and
41:28
volatility means big moves, OK, Now we're going to focus in on
41:32
silver. Silver has traditionally
41:34
historically been a very volatile metal.
41:39
That's a fact. OK, silver is a widowmaker.
41:44
There's a reason why they call it that all right.
41:47
It's silver is is a very Moody, bipolar type metal.
41:52
It can move big up, move big down, but but the reason why we
41:57
want to embrace this volatility is because if we're going to be
42:01
able to go down $0.60 an ounce like we are today, we'll be able
42:06
to go up $1.20 per oz. And that has been the trend as
42:10
of late. Yeah, we'll have some bad days
42:11
like today, maybe we're down a dollar, who knows.
42:14
But then we can turn around and have days where we're up $1.50
42:18
or $2.00 per oz. Be ready.
42:21
It's coming, it's going to happen.
42:23
Thank you for being here. Thank you for being part of the
42:25
basement. Thank you for the Super chats.
42:27
Thank you, thank you, thank you, and I'll see you soon.