Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 BEWARE! 🚨 Silver Investors Best PAY ATTENTION to URGENT News
Transcript
- 0:00Right to the chase, we have a lot to talk about tonight, OK.
- 0:04Big major news stories breaking over the weekend in the silver
- 0:09market that will have a major impact on you and your silver.
- 0:14We're going to talk about that. But we got a lot of new people.
- 0:17Part of what's going on is a lot of new people coming into the
- 0:21stacking community and we need to give some caution to them.
- 0:25We're going to talk about that as well and it's important for
- 0:27us as silver investors also remember these critical concepts
- 0:33as we invest in silver and gold, platinum, all the precious
- 0:37metals at all applies. But let's just talk about what's
- 0:41going on tonight. It's Sunday night and silver is
- 0:44holding tight, last I checked before I came on.
- 0:47Also gold holding tight. Guys, if we can stick above
- 0:52$25.00 with silver for a little bit longer, build this base.
- 0:57OK, Gold. Same thing, 2150 per oz.
- 1:01Hey, we could be in for some awesome, awesome, great times
- 1:06coming down the road. I'm going to read through some
- 1:09quick notes, important points about what's going on for our
- 1:13friend Silver right now. First and now everything's oh Oh
- 1:18my gosh, OK well, I'm going to do this from memory because
- 1:27because I'm having problems now with my my noteboard that I had
- 1:31here. Let's remember Silver, I think
- 1:34it was February 28th. Since I can't look at my notes,
- 1:38I'm doing this from memory. February 28th, Silver was around
- 1:41$22.00 per oz. It's only been three weeks and
- 1:46we've gone up, what, 15%? Hold on.
- 1:49I'm getting my notes back. Thank you.
- 1:51Boy, something's working tonight.
- 1:54Hold on, guys. OK.
- 1:58Also with the silver price, we've beaten it to a pulp, but
- 2:02we are in the final stages of a wedge pattern.
- 2:06The price of silver has been trying to break out of this
- 2:10wedge pattern for like 4 years. Doesn't it feel like to you that
- 2:14silver's been fighting around $2223 per oz forever, right?
- 2:20Remember we had 30 a while back, but now we've been in this range
- 2:24for a while and building a strong base.
- 2:27What that means is people like you and all these new people
- 2:30coming in are getting their silver or got their silver in
- 2:34the $2324 range. If we head up into this 2628
- 2:39range where things are really going to get interesting, the
- 2:43the price can fly. And there's a big warning that
- 2:46I'm going to give you about that.
- 2:47A big warning. We're going to talk about these
- 2:49warnings, these big cautions and a massive, big story in the
- 2:55silver market in particular. That could even add much more
- 2:59fuel to the fire as we move in here.
- 3:01OK, Yeah. February 27th.
- 3:03I'm sorry, I was off by a day. If you can, please forgive me,
- 3:07Silver futures price was $22.40 per oz on Friday, $25.40 per oz.
- 3:16Again, that's the futures price, but it's close to the spot price
- 3:19nonetheless. That's a $3 increase.
- 3:22That's almost 15% in the matter of what?
- 3:25Basically 2 1/2, almost three weeks.
- 3:28Silver has been on the move. OK, if we get above 26, we're in
- 3:34for a wild ride. Silver is stark.
- 3:37Can you feel it? Can you?
- 3:39And we got this big news story we're going to talk about and we
- 3:41got big cautions for us. We know these cautions, but it's
- 3:46important for us to remember. We got some newbies here, some
- 3:49new stackers that have joined us.
- 3:50Silver and gold. These concepts apply to both.
- 3:54OK, still, let's just review this.
- 3:57OK, the silver to gold ratio right now, based on my
- 4:01calculations, is sitting right around 85 to 185 ounces of
- 4:06silver. Four tubes of American Silver
- 4:09Eagles, and five more coins to get yourself one ounce of gold
- 4:13that's come down. It got as high as 9091 over the
- 4:17last few weeks. The silver, The gold.
- 4:20Gold. The silver, whatever you want to
- 4:22call it. Ratio is compressing, Okay.
- 4:27But remember, you deserve better.
- 4:31You deserve better. You're silver.
- 4:34There's no way that it should take 85 oz, 85 ounces of silver
- 4:40to get one ounce of gold. Are you kidding me?
- 4:43Historically that ratio's been more in the fifty 6070 range.
- 4:48I mean recent history. You go way back.
- 4:51Silvershire. I got to do a video about this.
- 4:53Silvershire sent me this awesome list of like silver to gold
- 4:57ratios from like starting in the BCS.
- 5:00It's always been closer to like 10/12/15 seventeen to one.
- 5:05Let me just let me just explain something to you.
- 5:08Right. The lower the silver gold, the
- 5:11silver ratio goes, the higher the silver price goes.
- 5:15And as gold goes higher it even gets more and more accentuated.
- 5:20You deserve at minimum to have a 60 to 1 silver to gold ratio,
- 5:28but it should only take 60. And even that's a rip off
- 5:31because they pull the stuff out of the ground.
- 5:33It's somewhere between, you know, 10 ounces of silver for
- 5:37each one ounce of gold and most the silver gets consumed.
- 5:41So you deserve better guys. It's OK for us to demand $30
- 5:46silver. And what's going on with major
- 5:49breaking news could make it even crazier.
- 5:52When we say $30 silver, we might be too conservative, right?
- 5:56And you know what's going to happen with premiums when Silver
- 5:59starts to fly again? OK, We're going to talk about
- 6:02that too, because that's a key thing that we need to remember.
- 6:04Silver investors, one of the lessons.
- 6:07OK. So as we talk about all this in
- 6:13the context of what's going on right now, it's getting
- 6:17absolutely crazy. Thank you, Ron McAdams.
- 6:19I forgot about super chats. It's been a while.
- 6:22Thank you, Ron. Super appreciated, guys.
- 6:25We're at the end of a little trip and I want to say thank you
- 6:27to my brother Ricky, who's in the basement kind of helping
- 6:30make all this happen as well watching over things and helping
- 6:35with the live stream and all the moderators, including Susie
- 6:39who's here with us and Annie, and I think Jake is here, and
- 6:42whoever else. I really appreciate everyone and
- 6:45I appreciate you being here. We got a lot more to talk about
- 6:50guys because it's getting real, real interesting.
- 6:53And I want to give a guy credit who pointed this out weeks ago
- 6:58to me, OK, weeks ago. And I'm not.
- 7:01I'm. I'm losing my mind.
- 7:02I'm forgetting his name. Live from the vault.
- 7:04What's the guy's name on Live from the Vault?
- 7:06Andrew McGuire. Andrew McGuire.
- 7:09I was on a Live from the Vault but did a video with Andrew
- 7:12McGuire 5-6 weeks ago, 6-7 weeks ago, OK?
- 7:17And he pointed out something interesting going on in India.
- 7:20He said wholesalers in India are taking any silver they can get
- 7:26their hands on. This is big breaking news.
- 7:28Just this weekend I heard it first from Fix Weir.
- 7:32I want to give him credit. And I also heard James Anderson
- 7:34at SD Bullion talk about it. But we're hearing numbers that
- 7:38in February, the Indians imported 70 million ounces of
- 7:44silver. Now, that's just a number,
- 7:46right? I mean, it's a lot you maybe,
- 7:48maybe your stack you're sitting on looking at right now, 70
- 7:52million mine's not right, but maybe yours is.
- 7:55I want to put that into context for you, 70 million oz.
- 8:01I want you to think about a big football stadium.
- 8:05Who's your favorite NFL football team?
- 8:08The Green Bay Packers. I got a Packers jersey the other
- 8:11day. I mean, you know, the the Rams
- 8:14or you know, the Kansas City Chiefs.
- 8:16I don't care. Think of Arrowhead Stadium.
- 8:17It seats about 70,000 people. OK, think about a 70,000 seat
- 8:23football stadium, Arrowhead Stadium.
- 8:26The 70 million ounces of of silver that India imported, that
- 8:32would be like every seat in that stadium would have a 1000 oz bar
- 8:39of silver. You know what a 1000 oz bar of
- 8:41silver looks like? Looks like a loaf of Wonder
- 8:43Bread or Bunny bread or whatever bread you eat.
- 8:47I don't know, it's huge or, you know, it's like this big.
- 8:51Big is my head, OK, that's a lot of silver, 70 million ounces in
- 8:57one month. That's almost 10% of the world's
- 9:01total mining output, 10% in one month in one country.
- 9:07And they're doing it. You know, who knows?
- 9:10You hear people saying, oh, part of it's for solar parts, for I
- 9:14don't care. Are you telling me that there's
- 9:17not going to be a huge silver deficit?
- 9:19No, it's incredible. What is going on?
- 9:22Absolutely incredible. OK And Andrew McGuire, in my
- 9:25opinion, pointed this out first. I heard him say it several
- 9:28times, not just in my interview with him, that the Indian
- 9:31wholesale demand was through the roof.
- 9:35What does that mean for the future of silver?
- 9:37And we know what's going on with China because now I'm hearing
- 9:41China's buying all kinds of silver too.
- 9:42But guess what? Here's a little secret.
- 9:44They're not going to tell you right.
- 9:46The Chinese, they're buying a lot of their silver.
- 9:49They're telling the Comex and the LBMA.
- 9:53This is what I'm hearing, OK, I, I, I don't, but this is what I'm
- 9:57hearing other the, the smart guys in the room say that the
- 10:02Chinese are going directly to the mining companies, possibly
- 10:08in Mexico all over the world, Africa.
- 10:11They're saying you don't have to deal with the Comex and the LBMA
- 10:15sell your silver directly to us, right.
- 10:19Right. Hmm.
- 10:20Interesting. Who else is doing that?
- 10:23Who else is saying I'll bypass the COMEX and the LBMA?
- 10:27Well, I think it's a bit safe to say that that that our good
- 10:31friend Keith Neumeyer at First Majestic Silver, who just
- 10:35started his own mint in in Las Vegas and Nevada, right.
- 10:40He's now taking Silver directly from the mines that he owns
- 10:44through First Majestic in Mexico and refining the silver directly
- 10:50in Nevada and making it available to you and me.
- 10:55Interesting. Maybe he'll be selling it
- 10:57through pin backs as well. That might be a good idea,
- 11:00right? Because if you want to get your
- 11:02hands on some silver or gold right now before the Indians
- 11:06take all the silver, the country of India, which is fine,
- 11:10whatever. And the Chinese?
- 11:14Who knows? I'm not giving financial advice,
- 11:16but if you decide to do some shopping for some bullying
- 11:18online, check out Pendex, Pi, MB, E, xpendex.com.
- 11:23They're an online bullying dealer.
- 11:26OK, what I found is that I can trust them, OK?
- 11:30They have great selection, great service, and their prices are
- 11:33always second to none. I always know that when I put in
- 11:37an order with Pendex, I'm going to get a great package in the
- 11:41mail and I'm going to get more metal for my money.
- 11:44You need to find that out for yourself.
- 11:46PINBE xpendex.com. Now, where was I?
- 11:51Oh, China, India, China. They're taking all the world.
- 11:54Silver and gold. There's going to be none left.
- 11:59But think about the the Indians started their own exchange, the
- 12:04IIBX, the the Chinese have the Shanghai Gold Exchange.
- 12:08And guess what? You want to buy gold or silver
- 12:10in China, You going to pay a lot more money.
- 12:13OK, that's the way it works. OK, if you want to buy, the
- 12:16silver price in China is always, always, always higher than what
- 12:23they quote on the comics. And I wonder why.
- 12:25I'll tell you why. Because it's a physical market.
- 12:28All right, let's talk about these big warnings.
- 12:31OK, review for a lot of you. But these, I think, are
- 12:34important points to review. You may or may not.
- 12:36Maybe you don't agree with me. That's OK.
- 12:39You don't have to agree with me, right?
- 12:41I don't know everything. I don't claim to have the
- 12:44gospel, but I do have experience, and I want to share
- 12:47with you what I think are some warnings, some cautions that all
- 12:50silver and gold investors need to remember.
- 12:54OK, we'll do that first. Let's do this.
- 12:57Then I got bored to talk about. But I'm going to be quick, I
- 13:00promise. I told the Mobs.
- 13:01Thank you, Craig. Wow, Buttercup.
- 13:04Good to see you. Caution #1 beast.
- 13:09There's four of these. Be smart.
- 13:12Only purchase silver with money that you don't think you'll need
- 13:15for decades to come. OK, I like to think of it as a
- 13:19generational investment. All right?
- 13:21You want to when you convert money.
- 13:24When you convert Fiat, Unicorn fart does whatever you want to
- 13:27call it into silver. You want to do that with money
- 13:30that you don't think you're going to need any time in the
- 13:33near future. Caution #2.
- 13:35This one's yeah, caution #2 #3. They're all important, but #2 is
- 13:40very interesting as well. Don't go buying silver for a
- 13:44quick flip. You're going to get burnt, OK?
- 13:47Don't think, oh, I'm going to buy silver, physical silver and
- 13:51and in a month I'm going to buy it for 25 an ounce and in a
- 13:54month I'm going to sell it for 30.
- 13:56Number one, you don't know what the price is going to do #2.
- 13:59The spreads will kill you. The spreads, meaning the
- 14:02difference between what anyone selling you silver or gold for
- 14:06that matter, what they're willing to sell it for you at
- 14:09and what they're willing to buy it back at, those spreads are
- 14:13typically can be significant. So if you're doing it on a quick
- 14:18flip basis, you're going to get burnt.
- 14:20Likely you might. You might do OK, right.
- 14:22Don't use credit cards to buy silver or gold.
- 14:26Like, you know, I'm a month I'll flip this back and make a
- 14:29profit. No, you could be stuck with a
- 14:32big interest payment. Big trouble.
- 14:33But #3 this is the one that nobody talks about.
- 14:37Nobody talks about this except Ron and Ron's basement.
- 14:40You and me, right? You got to have a plan.
- 14:43Stand for what you're going to do.
- 14:46Boo, Boo when the price does skyrocket, because it is going
- 14:50to skyrocket. Now, I don't know that for sure,
- 14:53but I got a real sneaking suspicion.
- 14:55What are you going to do when I'm talking to you about $60.00
- 15:00silver and you think, oh, it'd be great, that'd be awesome,
- 15:02Ron, we'll be party time and it will be great.
- 15:04It will be party time. But if you don't have a plan
- 15:08with what you're going to do if and when that happens, I can
- 15:11tell you this right now because I've had it happen with stocks
- 15:14and other things that I've owned.
- 15:16It can be stressful, OK? And you can, you can fall victim
- 15:20to making emotional decisions which you do not want to do.
- 15:25So have a plan, my plan. I have a number in mind where I
- 15:30might sell a third now and I'm really more focused on my mining
- 15:34stocks, but it was silver. You know, if it really we get a
- 15:38window where things really take off.
- 15:39I've never sold an ounce of silver, but I will, right.
- 15:43Let's say if we get to 85 dollars silver, I may be looking
- 15:46at converting a part of it, 1/4 of it.
- 15:50But don't do all or nothing. Don't you guys?
- 15:53But you got to have a plan. Trust me.
- 15:56You got to be mentally prepared for the bad and the good,
- 16:01because the good can be just as stressful.
- 16:03Trust me, right? If you're like, Oh my God, what
- 16:06do I do now? Should I sell all of it?
- 16:07Should I sell? Hell, I don't know what to do.
- 16:10I'll do. Screw it.
- 16:11I'll Yeah. And then you make bad decisions.
- 16:13So have in mind what you're going to do, because I think the
- 16:16odds of the price skyrocketing at some point are much higher
- 16:20than going down. Avoid.
- 16:22This is also critical. OK, this is for you veterans.
- 16:25Me, I've been doing this for 20 years.
- 16:28You've been doing it for a while out of you, for the new people
- 16:31as well. Avoid FOMO, fear of missing out.
- 16:36That is a critical mistake that so many precious metals
- 16:39investors make and more with silver than gold where they they
- 16:43the price starts to go up and that's when they want to buy.
- 16:47OK. The pro's silver, I'm going to
- 16:49miss out. It's going to go to 60.
- 16:52It's going to go to 80 and maybe it will.
- 16:54OK, look I'm. I'm not.
- 16:55I'm not. I don't know for sure.
- 16:57I really feel what I say, OK and I get a lot of heat for that.
- 17:01But I'm willing to take the heat because I believe it.
- 17:04But guys, you don't want to become fall victim to FOMO
- 17:08because you get double, you get double kicked in the midsection.
- 17:12When you do that, number one, let's say, let's say in a month
- 17:15from now silver's at or two months, silver's at $32 an
- 17:19ounce, you're going to get everybody talking about silver.
- 17:24And at the same time, there's going to be huge demand for
- 17:26silver because silver investors buy more when the price goes up.
- 17:29And you know what happens when silver investors buy more, the
- 17:32premiums go up. So if you fall victim to FOMO,
- 17:36you're paying higher prices and higher premiums and that
- 17:41happened. I mean, you can avoid all this
- 17:43by dollar cost averaging, but that happened to a lot of
- 17:46people. Maybe some of you like a year
- 17:48ago, you know, a year ago right now.
- 17:51American Silver Eagles, at some point around a year ago right
- 17:55now, American Silver Eagles were selling for like 100% premium,
- 18:00almost coin chop, Chris told me. I asked him the other day, I
- 18:02said how much were Eagles selling for a year ago?
- 18:04And he said this high is $52 each.
- 18:07It's crazy. Just a week or three or four
- 18:11weeks ago you could buy American Silver Eagles for $27.00.
- 18:15I bought some. I was like, I never buy them.
- 18:17I honestly, I'm, I never was. I would never buy American
- 18:21Silver Eagles because the premiums were so high.
- 18:23Like, these are the best I've ever seen.
- 18:25So anyway, avoid FOMO. OK?
- 18:30We got to talk about fraud. We're going to talk about that
- 18:32real quickly. But here, let me let me tell you
- 18:35this. I got this down.
- 18:37Remember, guys, paper is paper, OK?
- 18:42Fiat money is nothing but a great.
- 18:44That all that paper money. I got a bunch in my wallet right
- 18:48now. Those dollars that you were all
- 18:50were taught to be so. Oh, I got this.
- 18:52What I have in my pocket on accident.
- 18:55Actually, this is not prepared. I got this.
- 18:58You know what that is? That's a piece of silver that is
- 19:02from coin shop. Chris actually sent me that a
- 19:04long time ago. Look at that.
- 19:06Remember, paper is paper. It's promise.
- 19:10It's printed by the government. I want.
- 19:12I got something you need to think about.
- 19:14We need to talk about this, right?
- 19:16You. I don't.
- 19:16I don't want to even show you paper money.
- 19:18But compare paper to that real live silver.
- 19:23The paper is a promise. A promissory note, right?
- 19:27Based on nothing. And who's backing it up?
- 19:31Well, it's Washington, DC And what is everybody?
- 19:35When you read any polls they take of Washington, DC, what do
- 19:38they say? They're like the Our politicians
- 19:41are the most untrustworthy, crooked people in the face of
- 19:46the planet. Remember Menendez?
- 19:48Remember Menendez? This is great.
- 19:51He was the Democratic senator who got caught with a bunch of
- 19:57bribes, taking bribes. And what did he take as bribes?
- 20:01Gold bars, right. And then what they say they said
- 20:04that's a pretty bad narrative about the US dollar when if you
- 20:07want to bribe AUS senator anymore, they won't even take
- 20:11dollars. They demand gold bars.
- 20:16It's all paper. It's all funny money.
- 20:19My friend from college, Kenny Kungalunga, used to always say
- 20:22that it's all funny money. And it is.
- 20:25It's nothing. It's funny money.
- 20:26This is not funny. This took some dude.
- 20:30It could have been five years ago.
- 20:32This this silver. This one ounce could have been
- 20:35five years ago. It could have been 500 years
- 20:39ago. It could have been 5000.
- 20:41This silver could be could have been melted down by silver that
- 20:44was mine 5000 years ago. It doesn't matter. 5, 505,000
- 20:50doesn't matter because inside this is all that energy that it
- 20:54took to mine that silver. OK, this is always valuable.
- 21:00Sorry, I digress. I digress.
- 21:02OK, so just remember, when you hold an ounce of gold or silver,
- 21:07you hold the wealth in your hand.
- 21:10You do not have any. Do you know what counterparty
- 21:13risk is? Counterparty risk is means if
- 21:17you own if you own some, some EUR or some yen or some Chinese
- 21:23yuan or U.S. dollar, right? Doesn't matter, right?
- 21:27You have you're relying on someone else to provide that
- 21:31value. It's a promise, right?
- 21:33It's a debt obligation. All this debt's part of the big
- 21:36debt. Make believe Unicorn fart does
- 21:39money. You know, I it's crazy what's
- 21:43going on in the world. Absolutely.
- 21:46Absolutely crazy. OK, when you hold this in your
- 21:50hand, I'll show you one more time.
- 21:52All right, This accidental prop that I have here, when you hold
- 21:57that in your hand, see him, right.
- 21:59And when you hold that shiny, I wonder why it reflects so well.
- 22:03Wonder why they use it in solar panels anyway.
- 22:06You hold the wealth in your hands.
- 22:09Hey guys, I appreciate you joining me tonight.
- 22:11I apologize for the poor audio quality.
- 22:15I'm really trying to use my new microphone, but it's really not
- 22:18working. I want you to be well.
- 22:21I want to say thank you to all the moderators.
- 22:22I want to say also say thank you to channel sponsor First Mining
- 22:26Gold. If you want to learn more about
- 22:28First Mining Gold, you can reach out to Mr. Paul Morris.
- 22:31Tell him you're a basement dweller.
- 22:33Ask him some questions. He's a real live guy.
- 22:35He can tell you about all the exciting opportunities ahead for
- 22:39first mining gold. His e-mail address is in the
- 22:42description of this video. And of course, our friends at
- 22:45Fortuna Silver that are now actually mining more gold and
- 22:49silver, but they still do mine silver and they are also doing
- 22:52very well. Thank you, Fortuna.
- 22:55You learn more about them at fortunasilver.com.
- 22:58So how's everybody doing tonight?
- 23:00Are you ready for a big week? Where will we be next Sunday?
- 23:06Very good question. Will silver still be above $25
- 23:11per oz? Will gold be above 2152
- 23:15thousand? I want to remind you of
- 23:18something. Silver investors, we get real
- 23:21focused on our silver, but you got to remember something silver
- 23:25follows gold. That's a lot what's going on
- 23:28right now. Silver's playing catch up.
- 23:30We're seeing a compression of the silver to gold ratio.
- 23:37Gold could breakthrough to new highs this week.
- 23:40We'll see how that plays out. Thank you for being here.
- 23:42Thanks for being part of the basement.
- 23:44Thank you for the Super chat. You can always subscribe to the
- 23:47channel. It's free.
- 23:47Leave a comment in the comment section below.
- 23:50Be well basement dwellers. Thank you.
- 23:53OK. And I'll see you soon.