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🎯 The Silver and Gold REVOLUTION: Why America Can't Afford to Ignore It Any Longer! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:02
  Everybody. Oh, oh, can you see me?
• 0:05
  Can you hear me? Hello.
• 0:08
  Oh, no. Oh, well.
• 0:09
  Today's April 2nd, 2024. No longer April Fool's Day.
• 0:14
  We've got a massive show today. So much to talk about.
• 0:18
  Big news, things to be very, very scared about When to buy
• 0:22
  silver. I'm going to tell you one good
• 0:25
  tip you can use on when to buy silver.
• 0:28
  We got to talk about the silver wedgie.
• 0:30
  We got to talk about the mainstream media waking up to
• 0:34
  precious metals. Bank crisis 3.0.
• 0:38
  Yes, big doom potential in the banking sector, wealth
• 0:42
  distribution, and a lot, lot more.
• 0:44
  We got big things happening right now.
• 0:47
  Big moves going on in the silver and gold market.
• 0:51
  Things are getting excited. Is there an Easter curse?
• 0:56
  We're going to cover that as well.
• 0:58
  Let's just talk real quickly this morning.
• 1:00
  Did you notice Silver was up? Let's run out to the Pinbex
• 1:03
  website. Let's say thanks to Pinbex for
• 1:06
  sponsoring Ron's basement. And we have Silver as we are
• 1:10
  recording live up $0.36 per oz. It was actually up a bit more
• 1:15
  earlier. Gold up almost $14.00.
• 1:18
  And again, I believe that that is the spot price on the on the
• 1:24
  Pendex website. If you're looking to buy
• 1:26
  yourself some silver, gold or platinum, do yourself a favor
• 1:31
  and come to this website. All right, throw them in the
• 1:34
  mix. As you're looking to buy
• 1:35
  precious metals online, I think you're going to find what I
• 1:38
  found before they sponsored my channel.
• 1:41
  That is, you will get more metal for your money, you'll get great
• 1:45
  customer service, and you'll get to work with a company you can
• 1:48
  trust. Now let's get back here and talk
• 1:54
  about Bitcoin. By the way, down almost $5000
• 1:57
  this morning. Look, we are not an anti crypto
• 2:00
  show. I believe in the blockchain.
• 2:02
  I believe in the future of digital asset backed digital
• 2:07
  currencies. But let's just point out
• 2:09
  Bitcoin, which has become quite a competitor to the gold and
• 2:13
  silver market, is having these massive moves.
• 2:16
  Guys, 5% is a pretty big deal, OK?
• 2:20
  I mean, if it's something that is going to be a store of value,
• 2:23
  When's the last time we saw a 5% move in the gold price?
• 2:27
  We see it once or twice a year in the silver price.
• 2:29
  But silver's known as being more volatile.
• 2:33
  Bitcoin moving over 5% today. Big news, big news.
• 2:37
  All right, let's go. Let's talk about the Easter
• 2:40
  curse, OK. And let's talk about how we
• 2:42
  could be changing. Have you noticed over the last
• 2:45
  two years? Let me pull this up quickly.
• 2:47
  Yeah, I have. I do have a handmade chart and
• 2:54
  I'll say really a chart for you. But I just want you to realize
• 2:57
  how how crazy this has been for the last two years and will it
• 3:02
  change this year? Are we in new territory for
• 3:06
  silver, for gold, for the precious metal mining stocks?
• 3:09
  So if you look at the top on the left, that's Easter, The orange
• 3:12
  arrow, Easter of 2022. Below that, the purple arrow,
• 3:16
  Easter of 23, and obviously before that, the blue arrow,
• 3:19
  Easter of 24. In Easter of 2022, we had the
• 3:24
  GDXJ at $51, in the next six months or so dropped to $30.
• 3:29
  That's a huge drop. The gold price was at 1900 on
• 3:33
  Easter of 2022 and dropped down to 1600.
• 3:36
  Silver was at 25 and dropped all the way to $17.00 per oz.
• 3:42
  So there was definitely an Easter curse, Easter Bunny
• 3:46
  curse. Not a Easter curse, Easter Bunny
• 3:48
  curse in 2022. What happened in 23?
• 3:53
  OK again, the GDXJ had come back to almost $43.
• 3:57
  It's subsequently, in the next six months, dropped to about 30.
• 4:00
  The gold price had risen. That's a common theme on Easter
• 4:05
  now isn't it? But the gold price had risen the
• 4:07
  $2000 and subsequently, and over the next six months or so
• 4:12
  dropped to 1800. Silver again went from 25 to 22.
• 4:17
  This year we're at $39.00 on the GDXJ, right?
• 4:22
  Gold. We just looked at it. 2260 per
• 4:25
  oz, Can you believe that? And silver.
• 4:27
  Notice this right around Easter. For the last three years, silver
• 4:31
  has been around $25 per oz. Now the next chart we're going
• 4:35
  to look at, which is crazy interesting, is that that $25
• 4:40
  price that we had last year around Easter, sure, the price
• 4:44
  dropped down to about 22, but that's when this really, this
• 4:49
  compression in the silver price has occurred and the wedgie are
• 4:53
  we breaking out? We're going to talk about that,
• 4:55
  but one more crazy interesting thing to point out to you about
• 4:59
  this data is if you look at today's GDXJ, that's the junior
• 5:04
  gold mining ETF that measures the overall value of the, we can
• 5:09
  almost say the mid the junior sized precious metals sector.
• 5:13
  OK, it's a good it's a good indicator for the silver miners
• 5:16
  as well, $39.00 per share today. OK, look at the gold price.
• 5:22
  OK, back two years ago, right now when gold was at $1900 per
• 5:28
  oz, almost $300.00 lower. The price of the GDXJ was
• 5:33
  $51.00. So the gold price was $300.00
• 5:36
  lower and the GDXJJ Junior Gold Mining Index ETF was 30% higher.
• 5:44
  That doesn't make sense, right? That should be the opposite.
• 5:48
  Now that gold is up by 300, you would think that the GDXJ would
• 5:52
  have gone from 51 to maybe 70 or 80.
• 5:55
  Guys, it's crazy what's going on.
• 5:57
  But let's focus more now on the silver price.
• 5:59
  Again, look at that middle column.
• 6:01
  OK, Easter 414 of 2023. The purple arrow $25.
• 6:07
  Silver. Silver only dropped down to 22
• 6:11
  and I'm gonna move over here. Our friend Kelton, who's a
• 6:14
  regular contributor, one of us basement dwellers, is really
• 6:17
  doing a great job of tracking the wedgie in the silver price.
• 6:21
  We've talked about this. Now this chart goes all the way
• 6:24
  back four years. OK, so from left to right is
• 6:28
  time, right starts in 2/20/20, goes through today.
• 6:31
  If we go back and we look OK right now we are right at what
• 6:38
  2553, this is called a a wedge guys see how they're on the
• 6:44
  bottom and the top. It's like a triangle coming
• 6:47
  together eventually at some point in the future.
• 6:51
  Oh, looking at the chart, I'd say maybe I'd be curious, maybe
• 6:56
  Kelton could let me know at some point.
• 6:57
  But at some point in the future, maybe a year and a half out,
• 7:02
  it's going to come to a point at sometime the price has to break
• 7:05
  out. Right now, if you look on the
• 7:07
  far right, we are attempting to break out of this wedgie and we
• 7:12
  know about the cup and handle. We know all about that.
• 7:14
  All right. So the cup and handles forming.
• 7:17
  I got, I got to say this quickly, hold on here, technical
• 7:21
  problems. Hopefully I didn't lose you
• 7:23
  guys. That wedgie that we just looked
• 7:27
  at is forming in the silver price, right?
• 7:30
  Eventually. See if I can do this eventually
• 7:33
  that we're about right here, right now.
• 7:35
  But eventually that wedge, it breaks out that wedgie is
• 7:38
  forming. Drop Susie.
• 7:41
  Boy oh boy. That wedgie is forming on the
• 7:43
  handle of the Cup. And handle.
• 7:46
  All right, this is good news because if the Cup and handle
• 7:49
  breaks out, it it's we're off to the races.
• 7:51
  When do you want to buy silver, you guys?
• 7:53
  You're always asking that question.
• 7:55
  And I've got what I think is a great piece of advice on when to
• 7:58
  buy silver. I don't buy silver on days like
• 8:01
  today. The price is up.
• 8:02
  OK, up was up quite a bit this morning, almost 5055 cents when
• 8:06
  I look. If you only buy silver on days
• 8:11
  when the price is down, at least at least you've got one thing
• 8:15
  going for you, right? If you buy silver on a day when
• 8:18
  it's down $0.60 an ounce, even if it's down $0.25 an ounce,
• 8:22
  whatever. If you wait till a day when the
• 8:24
  price is down, OK to make your purchases, at least you've got
• 8:28
  one thing going for you basement dweller and that is you did
• 8:32
  better than if you'd bought it the day before, right?
• 8:35
  That's it's hard to time these things and I always recommend
• 8:38
  dollar cost averaging, but I get that question all the time and
• 8:42
  you know I don't give financial advice.
• 8:44
  I'm not telling you guys what to do.
• 8:46
  I I could be wrong about silver. I don't think I am.
• 8:49
  I almost know that I'm not. But none the less, one thing for
• 8:52
  sure, I always like to buy silver on days when the price is
• 8:57
  down and most silver stackers, right.
• 8:59
  I was talking with Jake from Jake's custom parts last night
• 9:02
  about FOMO, right? Silver investors are are the
• 9:06
  real farming people pile into silver when the price is going
• 9:11
  up and up and up. And I'm telling you right now,
• 9:14
  the premiums are still on a historical basis pretty darn
• 9:18
  low, much lower than we had a year or two years ago.
• 9:22
  So is now the time to be buying silver?
• 9:25
  You know, I Look again, I can't tell you what to do, but I can
• 9:29
  tell you one thing for sure. If you wait for a day when the
• 9:31
  price is down, you got one thing going for you, and that is you
• 9:34
  got a better price than the day before.
• 9:36
  OK. We talked about the Easter
• 9:38
  curse. This is.
• 9:39
  I don't know. Do you remember?
• 9:40
  Am I the only person? Do you, Did you go through that?
• 9:43
  I remember the last two Easters Sunday night, Easter Sunday
• 9:48
  night thinking, oh, things are looking good.
• 9:51
  Things are, you know, my my mining stock portfolio's doing
• 9:54
  well and I'm feeling good about the precious metals.
• 9:56
  And then the rug was pulled 2022-2023.
• 10:01
  Are we in new territory right now?
• 10:03
  Judging by what happened yesterday, judging by what's
• 10:06
  happened so far today, hey, it's OK for us to be optimistic, my
• 10:10
  fellow basement dwellers. I know you know it's like it's
• 10:15
  it's like we were, I was talking I was talking with one one of
• 10:18
  the guys yesterday from a big bullion selling company a big
• 10:23
  dealer and he's we were talking about the overall market.
• 10:25
  He's like people in the precious metal sector are almost like
• 10:29
  abused animals or or kids even. Like we've been beat so much we
• 10:33
  got to remember guys, we can have a big 510 year bull run in
• 10:39
  the silver pricing gold price. Timothy Zoob, another basement
• 10:42
  dweller emailed me this morning something he just learned about
• 10:46
  what's going on right now. Like with China for instance,
• 10:49
  right, Like these big manufacturing countries right
• 10:53
  now they're wanting to get think about this.
• 10:55
  They're wanting to get rid of their dollars and they are
• 10:59
  stockpiling real assets, real commodities, silver, gold, zinc,
• 11:05
  copper, everything OK, it's going on right before our eyes.
• 11:09
  They want to get rid of their dollars and even though their
• 11:12
  economy's slowing, they are wanting to stockpile massive
• 11:16
  amounts of real things. So this commodity super cycle,
• 11:21
  it can happen. I'm, I promise I won't say it
• 11:25
  again, right. You know, Lucy has pulled the
• 11:30
  football so many times on us that we, I think we get to a
• 11:34
  point where we're just kind of like traumatized and don't
• 11:37
  realize it's going to happen and it's going to happen in such a
• 11:41
  way. I'll be honest with you, I'll be
• 11:42
  like we've had a really good run in the gold price, really good
• 11:45
  run in the silver price. My mining stock portfolio is
• 11:48
  doing better, showing signs of life.
• 11:50
  But I'm not really even feeling great about it right now.
• 11:54
  And I mean, of course, I'm happy about it, and maybe you are too.
• 11:57
  But I think we've just been, we've been subjected so many
• 12:01
  times to false hopes, right. Promises probably that that we
• 12:05
  think that it can't, it can happen.
• 12:07
  All right. It can happen.
• 12:08
  Is it. Could the rug get pulled again?
• 12:10
  Absolutely. Do I think the rugs get going to
• 12:12
  get pulled again? No, I don't.
• 12:14
  But it can and it will. And we'll be OK.
• 12:17
  We've been OK through this. Let's talk.
• 12:18
  We got doom and gloom, but we got a lot more to talk about.
• 12:22
  Oh, boy. Thank you for being here.
• 12:24
  Thank you. Please give this a thumbs up.
• 12:26
  That helps get the word out to more people.
• 12:28
  You can subscribe to the channel that is free.
• 12:30
  We still have our New Year's Day special.
• 12:32
  It's free to subscribe. I'll put out a piece of content
• 12:35
  for you each and every day. And it'll always be about silver
• 12:39
  and gold. And you're always going to find
• 12:41
  nice, good people that you can make friends with here in the
• 12:44
  basement. And who doesn't want to make
• 12:45
  friends, right, These basement dwellers.
• 12:47
  Me, Susie. Yeah.
• 12:49
  All the moderators. All the people here are really
• 12:52
  nice people. You can make some great, great
• 12:54
  friends. Fortune magazine and a big
• 12:57
  headline. America will be left with
• 13:00
  severe, irreversible scars. If this is crazy, wait till you
• 13:05
  hear this number. Wait till you hear this If the
• 13:08
  national debt goes unchecked. Now a blockbuster report.
• 13:12
  We got A blockbuster report warns that the bill is higher
• 13:17
  than believed. That the national debt could
• 13:19
  hit. Sit down. close your eyes.
• 13:22
  I'm just repeating the news, $141 trillion by 2054.
• 13:29
  We know right now we're at 34 trillion, $141 trillion.
• 13:33
  This is worldwide. America's the last of the party.
• 13:37
  OK, All right, be prepared. This week, let's talk about the
• 13:40
  big data that could that could severely impact, you know the
• 13:44
  big piece of data coming out this week.
• 13:46
  Right. You you you want to stay abreast
• 13:48
  of the big data that comes out. Thank you, Metal Seer.
• 13:51
  Wow. Oh wow.
• 13:53
  Bitcoin down 6%. Now we're not anti Bitcoin.
• 13:57
  We're not. But that's pretty crazy that,
• 14:01
  like the alternative to gold can move 6% in a day.
• 14:04
  Absolutely crazy. But you let's get back to the
• 14:06
  big data. There's big data could make gold
• 14:09
  go down $300.00 an ounce, 600. I'm just joking, but it could
• 14:14
  make a big impact. This Friday.
• 14:16
  We're going to get the employment numbers, if you want
• 14:19
  to call them that. We're going to get to hear how
• 14:21
  well Bitonomics is working. We're going to hear about all
• 14:25
  these new jobs that are made. We're going to hear all this.
• 14:28
  It's going to be very interesting to us precious
• 14:30
  metals investors, how silver and gold react on Friday to the big
• 14:35
  numbers out of the Bureau of Labor and Statistics.
• 14:39
  Right. I have a question, quick rant.
• 14:41
  I'm angry about this. Why can't we just get.
• 14:47
  Oh, thank you. I do have the walkie-talkie on.
• 14:49
  Oh, are you in your bedroom? That was Susie.
• 14:56
  OK, all right. I'm going to go on a rant in a
• 14:59
  second. I'm angry about something.
• 15:00
  But the most important thing we all need to do right now is all.
• 15:04
  Wish Susie a happy birthday. Today is Susie's birthday, April
• 15:09
  2nd, 2024. Happy birthday to Susie.
• 15:12
  She's up in her bedroom because she wanted to take it easy
• 15:15
  today. And talking to me through the
• 15:18
  close shoot. We have an old house here.
• 15:20
  We have a close shoot. So happy birthday to Susie.
• 15:23
  We're oh 100 likes. OK, I'm going to ring the pinger
• 15:26
  here in a second, man. We got stuff blowing up
• 15:28
  everywhere. Welcome to the basement.
• 15:30
  And I think, technically, I think you guys can still see me
• 15:33
  and hear me. I think it was like my 9th live
• 15:38
  stream I did probably two years ago.
• 15:41
  I did a live stream for about 20 minutes until we realized I
• 15:45
  hadn't hadn't pressed the go live button.
• 15:47
  So anyway, big deal, you're here.
• 15:49
  Big news this week from the Bureau of Life.
• 15:51
  Oh, this is what? I'm mad.
• 15:52
  Are you? Does this make you Why?
• 15:54
  I just have a question. What's with all the smoke and
• 15:57
  mirrors and everything out there?
• 15:59
  Why can't, why can't they just tell us simply how many jobs
• 16:04
  were created during the month, real jobs that that have at
• 16:08
  least, let's say 36 hours per week that have benefits like
• 16:13
  health insurance. Why can't they just tell us
• 16:15
  that? Why does it have to be this big
• 16:17
  cluster bomb messed up or revisions and seasonal
• 16:22
  adjustments. And yeah, you know, it rained in
• 16:26
  Seattle. So we're going to make believe
• 16:28
  they made more jobs than they did.
• 16:30
  And, you know, you know, the odor in Saint Louis was worse
• 16:35
  than expected. So people didn't go to work.
• 16:37
  And we made some adjustments. And look, biotonomics is
• 16:40
  working. Look at all these jobs.
• 16:42
  You should be happy. What's wrong with you?
• 16:45
  Yeah, the economy is strong. The economy is great.
• 16:47
  Let's bomb. Let's, let's torpedo the gold
• 16:50
  price and silver price. And then we get this headline
• 16:53
  this week out of Zero Hedge that says the Philadelphia Federal
• 16:58
  Reserve. Yes, that same Philadelphia
• 17:00
  Federal Reserve that published a report this week about the
• 17:03
  potential. I don't want to oversell it, but
• 17:06
  they did put out a report about the gold standard and how it
• 17:09
  works. Yes, the Philadelphia Federal
• 17:13
  Reserve, boy, they're really, they're going to be in trouble
• 17:15
  with Jerome. Where is Jerome?
• 17:17
  Have you seen Jerome? Should I try to find Jerome
• 17:19
  lately? Well, the federal Philadelphia
• 17:22
  Federal Reserve also put out a report saying that the jobs
• 17:25
  numbers were over at overstated by at least only 800,000 jobs.
• 17:31
  So I want you to imagine, I want you to imagine, let's just say
• 17:35
  Arrowhead Stadium in Kansas City.
• 17:37
  I think it seats about, let's say, 70 or 80,000 people.
• 17:41
  OK. That's 10 Arrowhead stadiums
• 17:44
  full of people that they overestimated on the jobs
• 17:48
  number. OK, well, you know, maybe those
• 17:52
  people, like we said, are in Seattle.
• 17:54
  It was raining too much. They couldn't go to work.
• 17:56
  Now, none the less, I also want you.
• 17:58
  Let's revisit something we haven't talked about for a whole
• 18:00
  week about our best friend Silver.
• 18:02
  This is going to shock you new people about silver.
• 18:07
  During the month of February, India alone in one month
• 18:11
  imported 70 million ounces of silver.
• 18:14
  OK, the whole world only mines about 800 million, so it's
• 18:18
  almost 10% of the whole world's mining production in one month.
• 18:21
  I want you to think of Arrowhead Stadium again, or whatever
• 18:24
  stadium, whatever team you like. I'm really not a big football
• 18:27
  game. I read.
• 18:27
  I'm not a Chiefs fan or anything.
• 18:29
  I just. I don't know.
• 18:30
  I have this is my Federal Reserve coffee mug.
• 18:33
  But anyway, think of that big stadium, 70,000 seats.
• 18:38
  OK, that's like 1000 oz. And then all the Imagine being
• 18:43
  an Arrowhead Stadium, me and you.
• 18:44
  We're in the middle. We're at the 50 yard line.
• 18:47
  It's empty. And I'm going to visually
• 18:50
  explain to you how much 70 million ounces of silver is.
• 18:54
  We're in that empty stadium. And suddenly every seat, every
• 18:58
  one of the 70,000 seats a 1000 oz gold bar comes down from
• 19:03
  heaven. Maybe down from the Comex,
• 19:05
  although they don't have that much silver, but none the less
• 19:08
  and lands in a seat. Every seat in the stadium has
• 19:11
  1000 oz bar. That's how much India imported
• 19:14
  in one month. I digress.
• 19:15
  I'm that's not even on my notes. So I went off off.
• 19:18
  That was ad Lib. Be ready for the BS adjustments
• 19:24
  from these late job numbers. I, I, I, I was doing voice to
• 19:27
  text and it said boka doki, Boka doki.
• 19:30
  It's all a bunch of boka doki, whatever that means.
• 19:33
  That's what Google translates as, but that's what it is.
• 19:36
  I said the Bureau of Labor and Statistics and Google Google
• 19:40
  Voice said boka doki, That's what you had to look forward to
• 19:43
  Friday. OK.
• 19:45
  OK. What does it mean?
• 19:49
  And again, Jake and I were talking about this again last
• 19:51
  night. Jake, from Jake's Custom parts.
• 19:53
  I think he's in here. Hey, Kelton.
• 19:55
  Yes. OK.
• 19:56
  Thank you, Kelton, for the charts.
• 19:58
  I can't watch all the comments as I'm going here, but Jake and
• 20:00
  I were talking last night about the number of people invested in
• 20:03
  silver and gold. He thinks there's more, a little
• 20:06
  bit higher percentage. You know, we always hear .5%.
• 20:11
  And I said well it depends. And you know people that maybe
• 20:14
  had it given to them from their grandparents and we just looked
• 20:17
  at all the different variables was a fascinating conversation.
• 20:20
  And I think what we came to the conclusion is nobody can
• 20:22
  definitively say how many people are are, are silver, physical
• 20:28
  silver and gold investors, right.
• 20:29
  I don't think anybody. I mean, tell me.
• 20:31
  You know what I want to hear from you guys in the comments?
• 20:34
  If we're just talking about active purchasers of silver and
• 20:39
  gold. OK, Active.
• 20:41
  Not like, oh, my grandpa gave me this, you know, gave me these
• 20:45
  two silver dollars. Oh, I got to ring the bell.
• 20:47
  I'm sorry. Sorry, Susie, it's your
• 20:49
  birthday. You know, my grandpa gave me
• 20:52
  these. And I've been, you know, that I
• 20:53
  don't. Let's not consider those people.
• 20:55
  Let's talk about people like, kind of like us basement
• 20:57
  dwellers. What are we like?
• 20:59
  People that may be actively on a monthly, quarterly or even
• 21:03
  annually basis buy either silver or gold as a hedge against as an
• 21:09
  as an investment, as a hedge against, as insurance, whatever
• 21:12
  you want to say it. I think that number is about
• 21:15
  one. How many out of 100 you can say.
• 21:17
  I'm not going to ask you to type a lot hold on here, but how many
• 21:21
  out of 100 do you think are like actively purchasing, going to
• 21:26
  the local coin store, going to Pinbec's?
• 21:28
  I wish they just do yourself a favor, guys.
• 21:32
  Seriously, check out Pimbex and you're gonna be blown away by
• 21:37
  how much more metal you can get for your money and how things
• 21:41
  come packaged. I mean, they are like they
• 21:43
  package things like Fort Knox. It's really fun.
• 21:45
  But anyway, I think it's one, so I'm gonna type one.
• 21:49
  OK, Chris in Virginia. Silvershire says one out of 100.
• 21:52
  Chris in Virginia. So yeah, about one in 100.
• 21:56
  What do you think happens? We're not going to beat this
• 22:00
  dead horse. But you know, what do you what
• 22:01
  do you think happens one in 100 when people start to wake up.
• 22:06
  And I mean, guys, I'll just give you like, if something goes,
• 22:09
  it's beautiful that this number is so low.
• 22:11
  It stinks right now. But the silver lining, what you
• 22:14
  have to be happy about. What's astounding about this is
• 22:19
  it's a lot easier for for for for the one in 100 to go up 5X
• 22:26
  to five in 100 than it is for let's say the number was 20 out
• 22:31
  of 100 people. If that were to go up 5X, it
• 22:34
  would have to go up to 100 out of 100 people.
• 22:36
  You know what I'm saying? The fact that we're at such a
• 22:38
  low number, it's we call that the Ron's Basement Beauty of Low
• 22:42
  numbers when it comes to silver and gold.
• 22:45
  So if we get more news and what are we hearing?
• 22:47
  Let's run out real quick. We got, hey, we got some stuff
• 22:50
  to look at. You don't have to look at me for
• 22:51
  a few seconds. Congratulations.
• 22:53
  But first, let's ring. Let's ring the American Silver
• 22:58
  Eagle. I'm going to ring this.
• 22:59
  It's a tradition that US basement dwellers are all well
• 23:03
  aware of. Ring the bell.
• 23:05
  And lately we're ring ringing. Something just collapsed in my
• 23:09
  basement. I don't know what that was.
• 23:13
  I'll check on that later. I'm going to ring this 10 times
• 23:17
  for for you, OK, 2345678910. And to prove to you that I can
• 23:27
  count to 10. Let's run out and see what the
• 23:29
  mainstream people are saying right now.
• 23:32
  Where am I? Here we are.
• 23:34
  All right, guys here. CNBC, gold hits, record highs on
• 23:40
  safe haven demand, US rate cut, rate cut bet.
• 23:45
  Bob, we're so sick of hearing that they're not going to cut
• 23:47
  rates. They don't need to cut rates for
• 23:49
  golden silver to go higher. Think about this.
• 23:52
  Think about this. Silver is done pretty good.
• 23:56
  Gold is doing awesome, OK? And rates are high.
• 24:01
  All that's gonna happen real simply, guys, is inflation is
• 24:04
  good. We don't need to.
• 24:05
  We don't need to look at any fancy charts.
• 24:06
  Inflation is going to go up, up, up, up, up.
• 24:10
  They aren't gonna be able to cut rates.
• 24:12
  OK, And when inflation overtakes the interest rate level, all
• 24:16
  right, but you probably in real, like real world terms, already
• 24:20
  has. But when it's official, that's
• 24:23
  when we see the next massive I mean massive leg up in in the in
• 24:29
  the gold and silver price. Let's go, let's go is this it
• 24:33
  here another one from CNBC. Gold prices hit another record
• 24:37
  high after fresh U.S. data spurs fed cut expectations.
• 24:42
  So what we're this is NBC News, NBC News.
• 24:45
  So we're seeing CNBC, NBC News, everywhere we look, we're
• 24:49
  starting to see more and more attention being paid to go.
• 24:53
  Did you know that in Canada, Canada, our friends in Canada
• 24:57
  are paying over 3000 Canadian dollars, 3000 Canadian dollars
• 25:02
  per oz for an ounce of of gold? Susie sends me a a text.
• 25:08
  Gold's up again. Man, this is getting crazy guys.
• 25:12
  Let's go over to Pimbex and see what's going on here.
• 25:16
  Let's just see. Oh, my gosh, look at that.
• 25:19
  Wow. Gold is.
• 25:20
  Thank you, Susie. 2275 silver up $0.60.
• 25:24
  Let's keep this live stream going.
• 25:26
  Maybe we can get the $3000 gold in the next few minutes anyway.
• 25:31
  OK, that that's what's going on. OK, what?
• 25:34
  What do you think it means we got world debt exploding?
• 25:36
  Let's talk about doom quickly, quickly.
• 25:39
  We don't want to focus on the doom, but let's let's go talk
• 25:42
  about what's going to happen if the banking crisis erupts.
• 25:47
  OK, what if, What if? What if?
• 25:49
  We've got this could be the trigger for the derivative time
• 25:54
  bomb. And don't forget, guys, don't
• 25:56
  forget when we're talking about gold and silver, we are talking
• 26:00
  about the base of the US financial system, the world
• 26:04
  financial system. I don't care.
• 26:07
  Gold and silver are still the base of money throughout the
• 26:11
  world. Why are central banks buying
• 26:13
  gold? OK, enough of that.
• 26:13
  We're not going to go into that. Gold and silver are real.
• 26:16
  They're this little bitty base. Everything above gold and silver
• 26:20
  is synthetic. Is man made.
• 26:22
  It's like in the 70s when you had a car you bought that had
• 26:25
  fake leather pleather. It's like pleather, right?
• 26:28
  It's not real leather. It cracks, it's not as
• 26:30
  comfortable. It's eventually everything
• 26:33
  phony. Everything man made really fails
• 26:36
  Mother Nature. God, however you decide to look
• 26:39
  at it, has provided the base of the financial system right.
• 26:43
  Silver always, always holds its value.
• 26:47
  Gold always holds its value. But let's go talk about what's
• 26:50
  going on right now, about this potential for a massive well,
• 26:56
  potential. Potential for a massive
• 26:58
  financial crisis. OK, because we got news.
• 27:01
  Oh, boy. Show your first gold.
• 27:05
  OK. I can't do that, Susie.
• 27:07
  That's put away. Let's go out to Reuters and just
• 27:12
  talk about what's going on in the banking sector because we
• 27:15
  heard that S&P Global. OK, All right.
• 27:20
  The guys at Pendek said I should use this new browser called
• 27:23
  Brave and I need to look into that Brave browser.
• 27:26
  S&P Global downgrades outlooks on five regional U.S. banks to
• 27:31
  negative. All right.
• 27:33
  Here. Let's go.
• 27:35
  There's something down here that's that's key all has to do
• 27:40
  with commercial real estate. Investors and analysts have been
• 27:44
  worried that higher borrowing cost and lingering low occupancy
• 27:47
  rates for office space in the aftermath of COVID-19 pandemic
• 27:52
  could result in more lenders taking losses on borrowers to
• 27:55
  those loans. Tuesday's downgrades come a year
• 27:58
  after the collapse of Silicon Valley Bank and Signature Bank.
• 28:02
  Those were like three of the four largest banks that that
• 28:06
  ever failed in U.S. history, OK. The the negative outlook
• 28:12
  revisions reflect the possibility that stress in the
• 28:16
  commercial real estate markets may hurt the asset quality and
• 28:19
  performance of the five banks which have some of the highest
• 28:22
  exposure to commercial real estate loans amongst banks we
• 28:26
  rate. There's a number in here
• 28:28
  somewhere. Where is it?
• 28:30
  OK, first? First it was the great financial
• 28:34
  crisis first, right? We remember first it was the
• 28:38
  tech bubble that first, then we had the great financial crisis
• 28:43
  is it. And then and then we had 2023.
• 28:46
  That was a year ago, the biggest bank, like three of the four
• 28:49
  biggest banks. And what about now this
• 28:51
  commercial real estate we have, we have S&P as of Tuesday.
• 28:55
  Here. I got this note.
• 28:57
  Be ready. This is this is it.
• 28:58
  This is the meat that I promised on this as of Tuesday.
• 29:03
  That was a week ago today S&P had negative outlooks on nine
• 29:07
  U.S. banks or 18% of those IT rates, it said, adding most of
• 29:14
  those ratings quote relate at least in part to sizable
• 29:18
  commercial real estate exposure. The company rates a range of
• 29:22
  banks of varying sizes and remember OK, OK, 18% of the
• 29:28
  banks got their ratings cut or on negative you know negative
• 29:31
  outlook that's just on commercial real estate.
• 29:35
  The reality is these banks also hold massive treasury U.S.
• 29:40
  Treasury balances all of which are trading at are worth
• 29:45
  significantly less than what they paid.
• 29:47
  They get to do this this do you do you understand this They get
• 29:50
  to do this is keep you understand Disneyland accounting
• 29:54
  right. Disneyland make believe Unicorn
• 29:57
  fart dust accounting. I have a degree in accounting.
• 29:59
  I work for one of the big four accounting firms.
• 30:01
  I am partially qualified to be able to say that is absolutely
• 30:06
  the case. These big banks, they get to be
• 30:08
  in La La land right on their treasuries because as long as
• 30:11
  they say we're going to hold them to maturity, they don't
• 30:15
  have to recognize that they lost any money on them.
• 30:18
  OK, but the reality is between the commercial real estate
• 30:22
  problem and the treasury problem, they've got big, big
• 30:26
  problems. I've heard some other people say
• 30:28
  that basically, darn near all the banks, all the banks are
• 30:33
  insolvent. Meaning if everybody showed up
• 30:35
  in one of their money and the banks had to liquidate, right,
• 30:39
  their their, their bond holdings.
• 30:41
  OK. Now again, that's not going to
• 30:42
  happen and I'm not saying that, I'm not calling for it.
• 30:45
  But if it were to happen, the banks couldn't liquidate their
• 30:49
  bond holdings, couldn't liquidate their commercial real
• 30:52
  estate loan portfolios and be able to pay everybody back their
• 30:55
  money because the commercial real estate portfolio is down in
• 30:59
  value, right. I mean come on guys, there's
• 31:01
  nobody, nobody's who's renting office space right now.
• 31:05
  Heck, you can sit in your basement and the the, the, the
• 31:10
  treasury balances are way down. So we are in a world of
• 31:13
  problems, OK. They aren't going to recognize
• 31:16
  the real losses because the whole they they they'll claim
• 31:20
  they're going to hold them all the way through to maturity.
• 31:24
  Maturity is not a word that we would usually associate with the
• 31:27
  banking sector, but we will. OK, I got a question for you.
• 31:31
  This one really gets me. This one.
• 31:33
  I I want to know how you feel about this, cause to me it's
• 31:36
  astounding. And I'll say one thing about you
• 31:38
  basement dwellers are of high intelligence.
• 31:42
  A lot of money. OK, Who was it?
• 31:45
  One of my sponsors or somebody was telling me today, like your
• 31:48
  audience is very intelligent and has a lot of money.
• 31:53
  OK, has. And all of us have different
• 31:55
  amounts. But you know, we are people that
• 31:57
  generally save money and have excess money that we can, that
• 32:02
  we can. So you're smart, is what I'm
• 32:04
  saying. Congratulations.
• 32:08
  You're smart. You know, I mean, we we, we want
• 32:11
  to we dig in a little deeper. But this one, this really got
• 32:14
  me. This hit me last night and it
• 32:16
  just set me on fire. And I want to know if it sets
• 32:18
  you on fires too. So I wrote this out.
• 32:20
  I'm going to read this to you maybe.
• 32:22
  Instead of everybody worrying about global warming, worrying
• 32:28
  about politics, right? Hating one side or the other,
• 32:32
  whatever, or even what you may or may not identify as which.
• 32:36
  I'm not putting any of this stuff down, right?
• 32:38
  It's just with all these distractions, maybe people in
• 32:42
  the United States should be worried about wealth
• 32:45
  distribution, because it feels like that has been the biggest
• 32:51
  thief from 99.9% of us over the last number of years.
• 32:56
  Wealth distribution. I know I'm on a bit of a
• 32:58
  soapbox, but isn't it true, right?
• 33:00
  When you look at the amount of wealth that's been accumulated
• 33:03
  by like one in 1000 people or even one in 100 people and
• 33:08
  compare that to the wealth that's been lost by the bottom
• 33:12
  50%, it's absolutely astounding. I'm like, so why are people,
• 33:16
  people that I know that are, that are so concerned about the
• 33:19
  environment, which is great? I'm not putting that down,
• 33:21
  right. I mean, I understand or so
• 33:22
  concerned about about politics and and hating this person or
• 33:27
  hating that. It's like, you know what you
• 33:29
  should really be mad about is this wealth distribution problem
• 33:33
  because that's kind of gone on under the surface and nobody
• 33:37
  talks about it. And if it really happened by by
• 33:39
  this, where is it? Hold on, I'll be right back.
• 33:42
  Oh, we got to show our old friend Jerome.
• 33:44
  Hold on. I promise to try out Jerome
• 33:46
  because of this, because of this paper printing press, right that
• 33:52
  I'm telling you. Have you ever held one of these?
• 33:54
  Have you ever held one of these in your hand?
• 33:57
  It it feels so suck. What?
• 34:01
  Susie's yelling at me. It's her birthday.
• 34:02
  I have. That'd be extra nice to her.
• 34:04
  Did. Hold on one second.
• 34:08
  Oh, hold on. I'll be right back, guys.
• 34:14
  Oh, Susie said we have 200 thumbs up.
• 34:17
  That means we got to ring the cowbell.
• 34:19
  I'm going to do that. Then we're coming right back.
• 34:21
  The cowbell came from Joe, who's a basement dweller, and when I
• 34:26
  ring it, it's because we get 200 thumbs up and it's a symbol of
• 34:29
  our camaraderie. We're all hanging out together,
• 34:32
  basement dwellers around the old Silver and Gold Camp campfire.
• 34:41
  In some days, when I'm feeling extra funny, I'll bring it one
• 34:46
  more time for Jake. All right.
• 34:49
  You know, if you ever held one of these in your hand, it feels
• 34:52
  so solid. I mean, it's like, it just feels
• 34:56
  like like like, you know that that thousands of years ago the
• 35:01
  man who planted the tree that printed the paper that this is
• 35:04
  on, it's held its value for thousands of years.
• 35:08
  You know, you can hold this in your hand.
• 35:10
  I can. I can put this in my stack it up
• 35:13
  somewhere and and know that that maybe even 500 years from now,
• 35:18
  my ancestors will still be able to harvest value from this
• 35:22
  paper. I mean, are you kidding me?
• 35:26
  No, They stole. They print this stuff.
• 35:29
  That's what That's what's happened.
• 35:30
  Oh, here. And here's the culprit.
• 35:32
  I know. He's making his daily, daily
• 35:34
  visit just to make sure he's still in there.
• 35:36
  There he is. Right.
• 35:37
  Our old friend Jerome. And of course, can you guys see?
• 35:41
  Oh, there's his friend, the Unicorn.
• 35:43
  That's where Jerome lives in Unicorn land.
• 35:46
  I don't know, guys. I I think it's crazy what has
• 35:50
  gone on. We got a lot more, a lot more to
• 35:53
  cover. Thankfully, we got this big
• 35:56
  bank. This bank stuff could really
• 35:59
  blow up. The BTFP is done right.
• 36:04
  We could be moving into into crazy land, You know, let's go
• 36:08
  back out. Let's go for fun real quickly.
• 36:11
  So see, I mean, you never know with silver and gold, it moves
• 36:14
  so crazy. 2275, let's update. Take a look. 2269 See.
• 36:21
  Silver up $0.70 an ounce. Wow, that's a good day for
• 36:25
  silver. Man, man oh man.
• 36:30
  OK, so thankfully we can be grateful.
• 36:33
  There is a revolution going on right now like Jake and I talked
• 36:37
  about. And like you guys said, maybe
• 36:38
  one in 100 people are active stackers right?
• 36:42
  When I mean active buying silver.
• 36:44
  Are you buying silver? Gold.
• 36:45
  It's crazy to realize that if we get a little traction, that's
• 36:50
  all it's going to take is a little traction.
• 36:52
  You want to already have your, in my opinion, only not giving
• 36:55
  financial advice. You already want to have your
• 36:58
  silver and gold. You may also invest in precious
• 37:02
  metal mining stocks. I want to say thank you.
• 37:04
  What wrong hand, First mining gold, gold development company,
• 37:09
  2 multi million ounce projects in Canada.
• 37:11
  I'll be talking with Keith Neumeyer later today.
• 37:14
  He's the Chairman and founder. Very much looking forward to a
• 37:17
  great conversation with Keith and we're going to talk
• 37:20
  specifically about first mining gold and what he sees developing
• 37:24
  right now in the gold and silver markets.
• 37:26
  And our friends at Fortuna Silver, Speaking of silver and
• 37:30
  gold, they got it all right. They don't sell it to the public
• 37:35
  like our friends at Pinbec's. But Fortuna digs it out of the
• 37:39
  ground, and they do an unbelievable good job doing
• 37:42
  that. The company's been built over
• 37:44
  the last 20 years, basically starting from nothing.
• 37:47
  Jorge Genoa has built it into what I'm starting to call a
• 37:50
  juggernaut. OK?
• 37:52
  They have operations in Latin America, and they have
• 37:55
  operations in West Africa. They're actually producing more
• 37:58
  gold now than silver. It's going to be crazy to see
• 38:01
  what happens with Fortuna as we as we get results here in the
• 38:06
  coming months. From their first quarter
• 38:08
  production numbers, I thought it was interesting.
• 38:11
  Now this has to do everything with the gold price, but really
• 38:15
  silver as well. When I talked to Jorge Ganoza
• 38:17
  about their fourth quarter earnings report, he brought up
• 38:20
  the point to me that their average sales price for gold
• 38:23
  during the last three months of 2024 was under $2000.
• 38:28
  I think it was 1990 to be exact, but you can learn more about
• 38:35
  them at fortunasilver.com. And of course our friends at
• 38:39
  First Mining Gold. I can't get my hands right on
• 38:41
  this. I'm always like my friends at
• 38:43
  First Mining Gold. No, First Mining Gold.
• 38:45
  They're at firstmininggold.com. Thanks for for dealing with me,
• 38:49
  guys. You know I do my best.
• 38:50
  I'm down here. This is like the one, the crazy
• 38:52
  one man show walking down the street in New York trying to
• 38:55
  play the whole band at one time. So what could be right?
• 39:00
  We're hearing right. Costco is still selling out of
• 39:05
  gold and silver. We're probably going to hear
• 39:06
  real soon like we had 100 million, what does that mean,
• 39:10
  $100 million worth of gold alone?
• 39:14
  But now they're doing silver. OK, right now.
• 39:16
  Look, look, I always recommend if you're going to buy silver or
• 39:21
  gold, buy it from a specialist. I'm not putting Costco down or
• 39:24
  anybody that buys it from Costco.
• 39:25
  But for me, because there were there was actually a couple
• 39:28
  articles that came out that people were complaining about
• 39:31
  the packaging. It's a lot harder to ship a A
• 39:36
  roll a silver bar. How about this?
• 39:38
  It's a lot. You need to know what you're
• 39:39
  doing to ship a silver bar. It's a lot harder to ship a
• 39:42
  silver bar than it is to ship some chocolate candy bars.
• 39:46
  So, but none the less. So that's why I would buy from
• 39:51
  an established online bullion dealer because you're likely
• 39:53
  going to get your packages in much, much better shape.
• 39:56
  However, let's let's go on here and talk about the fact that
• 40:00
  this is the beginning and we have a revolution.
• 40:03
  Can you imagine a revolution going on right now in silver and
• 40:08
  gold? OK, let's talk about it on a big
• 40:11
  worldwide basis. It's happening.
• 40:13
  OK. Brazil, Russia, India.
• 40:15
  China, South Africa. Iran.
• 40:18
  Saudi Arabia, Egypt. Ethiopia, the United Arab
• 40:21
  Emirates. Now we hear Cameroon wants to
• 40:23
  join. Those are the 10 bricks.
• 40:25
  But it's even getting bigger and bigger in those countries are
• 40:29
  accumulating the gold and silver of the world.
• 40:33
  OK? Like Tim Zoob said earlier,
• 40:35
  China's happy to buy all the copper, zinc, silver, right?
• 40:38
  They'll stack it up, stack it up.
• 40:40
  They are de dollarizing. Remember?
• 40:43
  Goldman Sachs said it. We can't get in trouble if we're
• 40:45
  talking about this. We don't like it.
• 40:46
  We live here. We don't want, we would like for
• 40:49
  this to actually maintain its value, but it doesn't.
• 40:52
  And you know what? Those countries I just
• 40:54
  mentioned, they know that, right?
• 40:56
  They're tired of sending. They don't want to send their
• 40:59
  real assets over to us to get paper printed paper electronic
• 41:03
  Unicorn fart does whatever you want to call it in returns on a
• 41:06
  worldwide basis. If the revolution is happening,
• 41:10
  but you know, is that the right term?
• 41:12
  Shouldn't we maybe call it more like the The awakening?
• 41:15
  It never went away, right? Silver and gold are like the
• 41:18
  bear that goes into powerful Big Bear, right?
• 41:22
  The apex of the of the food chain that goes to sleep, that
• 41:26
  hibernates for three or four months.
• 41:28
  I don't know how long bears hibernate, maybe it's longer.
• 41:31
  It's kind of weird. They sleep for that long.
• 41:33
  But anyway, gold and silver are awakening from their
• 41:37
  hibernation. They never went away.
• 41:39
  And it's happening on a worldwide basis.
• 41:40
  But if we zoom in, 'cause we got to pay attention to the United
• 41:43
  States, what's happening with silver and gold here in the
• 41:47
  United States? Well, we know we have a
• 41:49
  foundation in this country, the Constitution, the Bible of the
• 41:54
  United States. Maybe that's a bad analogy, but
• 41:56
  the the bedrock of the United States, the United States
• 42:00
  Constitution, right? Hamilton, I think, wrote it
• 42:03
  anyway. Nonetheless, it's in there.
• 42:05
  Silver and gold are in there. And what we're seeing right now,
• 42:09
  state by state, chip by chip, little by little, right.
• 42:14
  It all happens little by little. Like Andy Scheckman likes to
• 42:16
  say, like the Jenga right? Sliding out the pieces little by
• 42:20
  little. Each state is working first to
• 42:24
  eliminate sales tax. And I think there's only four or
• 42:27
  five left now that charge sales tax on precious metals, which is
• 42:31
  an absurdity. How can you charge money?
• 42:34
  Silver and gold are money. You can't charge tax on money.
• 42:38
  Right. That'd be like taking a hundred
• 42:40
  of these this, this, this. Oh, that just feels so, so
• 42:44
  solid. Good in my hand.
• 42:46
  Wrong. No, 100 of these to the bank and
• 42:49
  saying I'd like $100 bill and they.
• 42:51
  And then telling you, well, you need 108 of these for us to give
• 42:55
  you a right. Oh, no, I just want to convert
• 42:57
  this. So if you're converting this
• 43:00
  into real money, right, even better money, why would you be
• 43:04
  charged a tax? That makes no sense.
• 43:07
  But on top of that, we have a number of states right now,
• 43:11
  including Missouri, including a big number of states that are
• 43:14
  pushing legislation through to help protect you.
• 43:18
  Yeah, you right you. If you live in one of the
• 43:21
  states, you you, you really need to be grateful for this to
• 43:25
  protect your right to use silver and gold as real money help you.
• 43:30
  Really not #1 protected, but reclaim your right to use silver
• 43:37
  and gold as real money. That's really a much, much more
• 43:41
  accurate way to say of what about what's going on.
• 43:44
  So it's going to be an interesting ride.
• 43:46
  Guys. Remember, Friday is big, big
• 43:49
  news. The Bureau of Labor and
• 43:51
  Statistics, and it's going to be would be critical for you to
• 43:55
  watch #1. The numbers.
• 43:58
  OK, they they they can fudge these numbers like crazy.
• 44:02
  But watch and see how they revised the previous months.
• 44:05
  That's always interesting as well.
• 44:06
  They always go back to the last two months and say, oh, sorry,
• 44:09
  we made a mistake. We overestimated how many jobs
• 44:12
  we got. The Philadelphia Fed telling us
• 44:16
  right right now that eight that was overestimated by 800,000.
• 44:21
  Hold on one second. I'm gonna have a drink of
• 44:22
  coffee. Why don't you have a drink of
• 44:24
  coffee too? That could move the market on
• 44:37
  Friday? That could be really bad for
• 44:39
  silver and gold, but it could also be really good.
• 44:42
  But I'm seeing on my screen the Nasdaq's down 1.37%.
• 44:47
  Are we seeing that time? I don't.
• 44:49
  Do you remember back in the day as a silver and gold investor, I
• 44:52
  definitely do. Look, I've been following these,
• 44:55
  the market super closely since the early 90s.
• 44:57
  What is that, 35 years anyway? It used to be that gold and
• 45:04
  silver to a certain degree were kind of inversely related,
• 45:07
  oppositely related to the markets that when the market
• 45:10
  would do really crappy, the general markets that people
• 45:15
  would run to silver and gold. Are we seeing that today?
• 45:18
  Because on my screen I see the NASDAQ down 1.4%.
• 45:22
  Let's just run out one more time, one more time.
• 45:25
  So we had gold up 18 and now we have gold up 11.
• 45:30
  It moves, but silver still up $0.70 per oz.
• 45:36
  Gold is still still kind of suffering from this idea and I
• 45:41
  don't buy it. Do you buy this idea of these
• 45:42
  people that say if the market crashes, if the general markets
• 45:45
  crash, the gold price is going to crash because people need
• 45:49
  liquidity, people need liquidity.
• 45:51
  And you know, I think in the Unicorn fairy world that we
• 45:54
  maybe lived in up until around 2000, up until about a year ago,
• 46:00
  to be honest with you, things are changing.
• 46:03
  Fundamental big changes are occurring in relationships in
• 46:08
  the financial world, right, And geopolitically in the world.
• 46:11
  And those are related, These big geopolitical changes and
• 46:16
  relationships are related to the big financial market changes
• 46:19
  again, right? The world is taking over the
• 46:24
  gold price and the silver price, don't get me wrong, the COMEX
• 46:27
  and the LBMA, right? They're still fighting and they
• 46:30
  still have some power, but the truth is they're losing control.
• 46:37
  Look, it happened to the British with the British Empire.
• 46:39
  It happened with the Spanish with the Spanish Empire.
• 46:42
  It happened with the Romans. It's happening now with what's
• 46:46
  with the United States in the dollar hegemony, they're losing
• 46:52
  control of the silver price and the gold price.
• 46:54
  Why else do we see silver selling often times for $2.00
• 46:59
  per oz more in Shanghai on the Shanghai Gold Exchange or the
• 47:05
  SFE, the Shanghai Futures Exchange, right.
• 47:08
  There's a reason behind that. OK.
• 47:11
  When we go to the United States on a state by state basis, on a
• 47:15
  state, this is state legislation, silver and gold
• 47:19
  legislation. Guys like Daniel Diaz from
• 47:22
  Citizens for Sound Money, Pat Holland for from the Missouri
• 47:26
  Freedom Initiative. JP Cortez is another one.
• 47:30
  Those are the three biggies that come to mind that are working
• 47:34
  tirelessly to help further this legislation to protect you and
• 47:38
  me. But then, all right, we didn't
• 47:40
  talk about the most important person in the room.
• 47:42
  You know who the most important person in the basement is?
• 47:47
  It's you because you also are part.
• 47:50
  At some point. I woke up to this, OK.
• 47:53
  At some point you woke up to this.
• 47:56
  OK. Right.
• 47:58
  Right. Maybe you've been around the
• 47:59
  basement. Maybe you've been around soap
• 48:00
  for decades like me. Maybe you've been around for
• 48:02
  weeks. Maybe you just are joining us
• 48:04
  today for the first time. But we've got a growing
• 48:07
  groundswell of people that are realizing and it's it's not like
• 48:12
  it's anything new. They're just kind of waking up
• 48:14
  to the fact that yes, right, silver and gold are real money.
• 48:20
  They are the timeless money. Everything else is synthetic,
• 48:24
  OK. When we talk about this in this
• 48:27
  banking situation going on guys, you know if we have another
• 48:32
  financial, I mean the, the, the, the, the scary thing is that
• 48:36
  they're going to do a reset on the system.
• 48:38
  They're going to do a reset on the system.
• 48:40
  It would probably involve these derivatives and there are
• 48:43
  quadrillions of derivatives. When you think that the US
• 48:48
  national, that's a big number at 34, it's probably up to 34.7
• 48:52
  trillion. If you guys want me to go to the
• 48:54
  debt clock, say it in the take the say it in the in the, in
• 48:59
  the, in the comment, I'll try to keep an eye on it.
• 49:01
  We could go check just to make sure that the US that's not
• 49:03
  going down, but you think that's a big number, right?
• 49:08
  These derivatives are bets amongst the banks on the banks
• 49:11
  themselves on different debt. They make bets about bets about
• 49:15
  bets, bets about bets. And it's all a big mess.
• 49:18
  It's all a big crazy spider web. Warren Buffett, Warren Buffett
• 49:22
  called them the the financial weapons of mass destruction.
• 49:27
  If this happens, it could be an absolute absolute right scary
• 49:33
  time for the US economy and I. Either way, whether it's print a
• 49:38
  thon, our old friend Jerome or we get a big event that occurs
• 49:42
  right. And look, I don't have a crystal
• 49:44
  ball. Well, I do have a crystal ball,
• 49:46
  but anyway, it's back there. I have a magic 8 ball as well.
• 49:49
  But none the less we don't know for sure.
• 49:51
  But every indication is that we need to be prepared.
• 49:55
  Hey, I appreciate you being here today, joining me in the
• 49:58
  basement. It's a big deal.
• 49:59
  This is not round tube. It's you.
• 50:02
  You. You too, basement dweller.
• 50:05
  Thank you. OK, we appreciate it.
• 50:06
  On behalf of Susie and myself, all the moderators.
• 50:10
  Thank you, Mark. Hello, Mark.
• 50:12
  Good to see you. STP Trader.
• 50:14
  STPTP trader. Oh, wait a minute.
• 50:17
  Fourteen 1.4 trillion in derivatives 2816.
• 50:21
  Wow. Thank you, Mark.
• 50:23
  Mark says $28.16 per oz is the silver price on the Shanghai
• 50:29
  metals market. What is that the the big Do you
• 50:33
  know the big, big reason why the Shanghai Gold Exchange, the
• 50:37
  Shanghai Futures Exchange, is such a big deal?
• 50:41
  I'll tell you why #1. Like Mark said, the price of
• 50:44
  silver is trading over $28.00 per oz.
• 50:47
  But even more important, #2. It's a physical market.
• 50:52
  It's not a Unicorn fart dust. Let's go out to the let's real
• 50:55
  quickly Hold on here, guys. Let's go out.
• 51:00
  And I'm gonna. I know I need to switch you
• 51:02
  over. OK, here we go.
• 51:08
  Hold on. All right.
• 51:11
  Where was I? Here we go.
• 51:13
  Look at this 34620, we are adding about $10 billion a day
• 51:19
  in debt. That's my advanced accounting
• 51:20
  skills. OK, but the Shanghai Gold
• 51:23
  Exchange. Shanghai is not, this is not
• 51:27
  levered Paper to silver, OK, paper to gold.
• 51:31
  Now I don't know that those are the actual, those are not the
• 51:35
  actual like COMEX leverage. I hear different numbers there.
• 51:39
  I'm not a guru in that area. But we know one thing for sure
• 51:43
  on the COMEX and the LBMA, we've got a leverage that is through
• 51:48
  the roof at least 12:50. And I you, you hear some crazy
• 51:53
  numbers. I don't want to spread
• 51:55
  misinformation anyway, but the big deal about the Shanghai Gold
• 52:00
  Exchange is that is physical, physical, physical.
• 52:03
  So yeah, we only have 214 trillion in unfunded
• 52:07
  liabilities. And yes, the debt clock
• 52:11
  continues to go up and the money supply continues to go down.
• 52:17
  And again, that's the last thing I'll talk about on this.
• 52:19
  But guys, that number going down, the only other time that's
• 52:23
  happened as far as I know is during like the Great
• 52:26
  Depression. It the fact that the money
• 52:29
  supply is shrinking is not a good sign for what's to come in
• 52:33
  the general markets. Let's let's run out.
• 52:38
  I just want to show you this real quickly.
• 52:40
  Let me make sure I've got the screen on.
• 52:42
  I do. OK.
• 52:43
  Hi. All right.
• 52:44
  This is silver. OK, this I want to visually show
• 52:48
  you what has happened over the last two years.
• 52:51
  This is silver right here. This is Easter of two years ago.
• 52:57
  So two years ago right now we had silver $25.
• 53:01
  Boom. Look at that.
• 53:02
  In the next six months, it went all the way down by August.
• 53:06
  So well, four months to $1717.00 range, $18.00 range per oz.
• 53:12
  Then we go fight our way back, OK, to Easter of last year
• 53:18
  range, OK. Again, $25 per oz.
• 53:21
  But what's interesting and we did have a pullback, right, We
• 53:25
  went from almost 26 down to about 22, we'll say.
• 53:30
  But look at that, let me hold on here, Let me, let's do, let's
• 53:36
  just do one year. That'll be perfect.
• 53:38
  Hello, Eisenhower. So this is one year.
• 53:41
  So this is one year ago Easter, right.
• 53:43
  We're up in this 2526 range. Look at how we stayed in such a
• 53:48
  tight range. We had one little period here.
• 53:52
  Hold on. Where we dropped down to $21.00
• 53:55
  per oz. I remember that back in October,
• 53:57
  a lot of you bought silver there.
• 53:59
  But really, I mean, look at that.
• 54:01
  We stayed above $22.00 essentially for the whole year
• 54:06
  last year, somewhere between 22 and 25.
• 54:10
  OK. Now bear that in mind as we go
• 54:12
  back one more time. OK.
• 54:14
  One more time to look at the at the at the wedgie that's formed
• 54:20
  and it's hard for me to see down here on the bottom, but this is
• 54:26
  probably about this last third of this chart is the same period
• 54:32
  that we're looking at. And there's the blip down,
• 54:34
  there's the, I don't think you can see my arrow, but that
• 54:37
  furthest blip down on the right hand side where we got down to,
• 54:40
  yeah, 21 per oz. We had been compressing the
• 54:45
  silver price and it's getting compressed within this
• 54:47
  descending wedge. And again that wedge eventually
• 54:50
  comes to a point if you can envision off to the right hand
• 54:53
  side of your screen that you're looking at right now, eventually
• 54:56
  those two yellow lines that are that are converging do come
• 55:00
  together and the price will break out.
• 55:02
  It's going to be, it's going to be epic.
• 55:05
  And again, I, I'm, I'm, I'm around the repeater.
• 55:08
  We got to remember that that compression is coming at you.
• 55:12
  That compression right, is happening.
• 55:16
  Here's the cup, here's silver, here's the cup, here's the
• 55:20
  handle. And it's happening on this
• 55:22
  little handle over here. And if that shoots up, and if we
• 55:25
  get up above 3532, David Morgan the other day mentioned to me he
• 55:32
  thought, you know, 28 to 31 range.
• 55:35
  I mean, it just depends on who you talk to.
• 55:37
  We're off to the races, 'cause just remember, there's nobody
• 55:40
  out there who bought silver. Very few people that bought
• 55:43
  silver. Very, very, very few people that
• 55:45
  bought silver between, let's say, 35 and $45 per oz.
• 55:49
  So once it gets into that new territory, once the FOMO kicks
• 55:53
  in, right when, because that's what silver investors do, they
• 55:56
  buy when the price goes up. Once we start getting articles
• 56:00
  on NBC and CNBC and Yahoo Finance about silver
• 56:05
  specifically, we see headlines that say silver's time to shine,
• 56:09
  blah blah blah. They're going to be saying, but
• 56:11
  the basement dwellers knew it all along because we did.
• 56:14
  Hey again, thank you for being here guys.
• 56:16
  I went a little longer than than usual.
• 56:18
  So I appreciate you being here, being a part of the basement.
• 56:24
  You know your comments matter. Your he wants me to ask the 8
• 56:27
  ball a question. OK, I'll ask the 8 ball.
• 56:29
  Let me let me grab the old magic 8 ball.
• 56:32
  Hey, don't forget watch yesterday's live stream.
• 56:34
  Also, I had a fascinating conversation with Donald
• 56:38
  Wedding. Donald Wedding is a he's a
• 56:41
  professor at Northwestern University.
• 56:44
  Right. That's like an elite elite.
• 56:46
  One of the best colleges in the country.
• 56:48
  I went to DePaul in Chicago. Northwestern's like, you know, I
• 56:52
  love DePaul was a blue demon. Studied accounting.
• 56:55
  But Northwestern's fancy OK smart.
• 56:59
  He's a professor, teaches statistics.
• 57:02
  He has a company, DK W Analytics.
• 57:07
  He's done work for Fortune 500 companies.
• 57:10
  He he accumulated data from you guys about the gold and silver
• 57:15
  prize and put together predictions about where the
• 57:18
  silver and gold price are going. And it's fascinating.
• 57:21
  I'll ask the 8 ball a simple question let's see Magic 8 ball,
• 57:29
  Magic 8 ball in. Well, you guys asked me.
• 57:32
  I'll ask one of your questions. I'll ask it a question that I'll
• 57:35
  ask you. So somebody put if you type 8
• 57:37
  ball and a question I'll I'll answer that question.
• 57:41
  Will silver be over $30 per oz by the summer.
• 57:52
  It's I don't think you can see this but I got good news guys.
• 57:57
  It says without a doubt. Oh, you can see it without a
• 58:01
  doubt. So there you go.
• 58:07
  Without a doubt. Hey, you know, we'll end with
• 58:09
  that. OK.
• 58:11
  All right, guys. Thank you.
• 58:14
  OK. Have a great day.
• 58:16
  Thanks for putting up with me. Thanks for being a basement
• 58:19
  dweller. Thank you for the 8 Ball
• 58:21
  question. OK.
• 58:23
  And we'll talk to you soon. Bye.
• 58:25
  Bye.