Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **SILVER + GOLD CRISIS!** 🦍 What You NEED TO KNOW - (JP Morgan and IRAN)

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**SILVER + GOLD CRISIS!** 🦍 What You NEED TO KNOW - (JP Morgan and IRAN) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Mass chaos in the world right now, uncertainty like we've
0:04
never experienced before. We're going to cover it all, but
0:07
let's talk about one of the craziest things going right now.
0:11
Let's head out here and take a look at the silver price.
0:14
You may be shocked guys, but at this point we are still holding
0:18
on to a green silver price in the in the, I'm sorry, in the
0:23
LBMA in the spot market up $0.69 gold down $90.00 per oz.
0:30
There is a lot going on that we're going to cover in this
0:32
video and we're going to talk about what it means.
0:35
We're going to look at the examples, but more importantly
0:38
the reasons why this could impact the silver and gold
0:42
prices. While we're out here, let's go
0:44
take a look at the US dollar, which is down significantly.
0:49
Boy, just in the last 15 minutes, it's popped back up a
0:53
little bit again. Let me remind you of something
0:57
very important. It was at 100 this morning.
1:00
We're going to talk about these big, major announcements that
1:03
occurred. Currently, the DXY sitting at
1:05
9921. We really only watch this when
1:09
it works in favor of the gold and silver price.
1:13
But let me show you one massive powerful force that we need to
1:17
look at at least once a week when it comes to this DXY index.
1:22
We are currently right where that red line is on this 45 year
1:26
chart at 100. As you can clearly see, we have
1:30
spent very little time in the last 45 years above 100,
1:35
including the recent maybe 10, last 10 or 15 years.
1:41
The vast majority of the time on the DXY index has been down here
1:46
under 100. And because we like to look at
1:49
good positive things, let's remember that from 2001 time
1:54
frame through 2011, the dollar went down, the DXY went down
2:00
significantly. And during that time period, the
2:03
price of silver went from $5 to over $50.
2:07
And I think it's very likely that we will see a drawdown like
2:10
that in the DXY index in the future.
2:13
In the DXY index as you know is just a trashy index that
2:18
compares the US dollar with a bunch of other Fiat make believe
2:22
currencies like the yen, like the euro and I think the Swiss
2:26
franc and a couple other ones as well.
2:28
Enough of that, we're going to move on to the massive new what
2:31
happened this morning. But we've had crazy price moves
2:34
in silver and gold, and we're going to talk about why.
2:39
Let's take a look at this. I'm going to let you into my
2:42
private life here. This is a screenshot of a text
2:47
that I got this morning from a good friend of mine.
2:49
I'll call him Mr. M. He's one of the sharpest minds
2:53
out there in the precious metal sector.
2:55
He'll say no, but I know it's true, he said.
2:58
Ron, don't know if you saw it late last night, but silver was
3:01
down below $62.00 at one point before bouncing back to over 68.
3:06
Glad to see that, but as we know the boys, and he's referring to
3:12
our friends at the COMEX in the LBMA cannot get back down again
3:17
if they want to. And look at this chart.
3:19
This is the spot silver price overnight last night.
3:23
And as you can clearly see on this chart, we did indeed get
3:27
down below $62.00 per oz and then we shot up, right?
3:33
Well, what caused that and what does it mean?
3:35
Let's go out to 0 head edge and look at their headline.
3:39
You know what? Before we do that, we have
3:40
something even more important to talk about.
3:44
And that's you, right? This is all possible because you
3:47
are here. Your time is valuable.
3:49
Please leave a comment in the comment section.
3:51
We want to learn from each other.
3:52
We don't have to agree with me or each other.
3:55
We can all learn from each other.
3:58
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4:01
I won't ask you again. And thumbs up, right?
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Hit the thumbs up button. We gets the word out to more
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people. And oh, yeah, super chats are
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awesome. I love them.
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So does upstairs. Susie.
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Never expected, always appreciated.
4:14
Let's talk about why the gold and silver price had a massive
4:18
reversal. Gold was down like $240 this
4:21
morning at one point. Let's talk about what happened
4:24
and what it means. And we're going to go out to
4:26
Zero Hedge. President Donald Trump postpones
4:30
the military strike on Iran after, quote, UN quote,
4:33
productive talks, says Hormuz. To be jointly controlled.
4:38
So this is a quickly evolving situation.
4:42
Obviously Trump had threatened to blow up all of Irans energy
4:47
plants by like 7:00 tonight, I think it was, and then kind of
4:52
backtracked on that. There's a lot of conflicting
4:55
news coming out. Let's see what we can make of
4:57
this. Trump announced productive
4:59
talks, OK? The IRGC linked media denied the
5:04
contact. So that was the thing.
5:06
Trump came out and said, we've been talking to the Iranians,
5:08
and then the Iranians came out and said, I don't know who he
5:11
thinks he's talking to because we're not talking to anybody
5:15
from the United States. But then there's some confusion
5:18
about who's really in charge and Iran.
5:20
It's all a little bit confusing. So Trump denies the Iran
5:26
denials. He says he's, quote, UN quote,
5:28
speaking with a top person in Iran.
5:31
But Israel says they're not seeing an imminent end of the
5:34
war and plans to continue operations.
5:36
The market response, right? Oil crashed, yields went down on
5:41
Treasuries and stocks went up. And as we know, gold and silver
5:45
over went up as well. Basically, the take away here,
5:49
Trump says Iran needs better public relations people.
5:54
Trump says Iran would like to make a deal and that we would
5:57
like to make a deal too. And, you know, that would be
5:59
great. Actually, here's the big take
6:01
away on all this. Two things #1 it's almost
6:05
impossible to understand what's really going on, but the big key
6:09
take away that will have major impact on the gold and silver
6:12
markets going forward is that the cat is out of the bag.
6:16
The ship has sailed. The damage has been done to the
6:19
international oil market, energy market, and to the world's
6:23
international economies and most importantly, inflation.
6:27
We are going to have much higher inflation as 2026 rolls forward
6:33
and you can slice it it and dice it.
6:35
You can say whatever you want about the DXY index and bond
6:40
rates and whatever. At the end of the day, high
6:43
inflation is good for silver and gold.
6:46
No one can argue that inflation and devaluation of the dollar
6:52
are the same exact things, right?
6:54
They're, they're the, the opposite sides on the same coin.
6:57
They mean the same thing when prices go up, right?
7:01
That means the dollar's becoming less valuable, short term noise
7:05
aside. And there will be short term
7:07
noise. But the the big key take away on
7:10
this is that the cat's out of the bag.
7:13
The damage has been done. Like that song by Neil Young.
7:17
I love Neil Young anyway. I won't sing for you, I promise.
7:20
I may make a sheep noise later. Oh, we got a lot more to talk
7:23
about. By the way, guys, the Wall
7:24
Street Journal indicator, 275 dollars silver.
7:28
OK. And real proof that it can
7:30
actually happen. Strong, strong proof 15,000
7:34
dollar gold, right? We got, like I said, a ton more
7:37
to talk about before we do that. Thank you first mint for
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That's what we've always called ourselves and this is what we
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do. We get together in the basement.
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Thank you for being here. Don't forget to subscribe.
8:50
OK, let's move on. The cats out of the bag.
8:52
Let's talk about, oh, JP Morgan. Wait till you hear what JP
8:57
Morgan has to say about gold. And then we're going to look at
9:00
that $275 silver prediction. Let's go to JP Morgan though,
9:05
because this is very, very good news.
9:08
This comes from Mr. PETA Peter Spina, who's quoting JP Morgan
9:13
recently on Gold. It says quote, this is an
9:17
extremely brutal flush talking about what we've endured OK in
9:22
silver, silver was down what, 7 days in a row?
9:25
OK, but from our perspective, this is JP Morgan speaking and
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maybe I should should shall I speak in my JP Morgan voice.
9:34
What it's telling us is more about gold getting caught up in
9:38
a contagion risk of a sell everything trade meaning gold
9:43
and and silver by default are being sold because they're just
9:47
caught up in this mass liquidation event.
9:50
Then it gets more interesting the longer the energy disruption
9:54
goes on and the more sizable the inflationary and importantly,
9:59
growth impacts become. We still think the backdrop for
10:04
gold will, in red likely quickly flip to materially bullish.
10:11
The more inflation we have. And we're going to, we're going
10:14
to touch on this more later, right?
10:16
Inflation's good for gold and silver.
10:18
The more inflation we have and the more growth scares, right?
10:22
Are you, are you catching on here?
10:24
That's called stagflation. And that's what the Federal
10:27
Reserve absolutely is petrified of because there's nothing they
10:32
can do. And the last time we had a
10:34
period of stagflation in this country was the 70s.
10:36
And that's when gold and silver skyrocketed like never before.
10:41
Let's talk about $275 silver and why it's real, real, real.
10:47
And we're going to look at a, a chart that shows us in no
10:50
uncertain terms that this is a absolute reality right now.
10:56
Hold on. Let's go back.
10:59
All right. And here we are.
11:01
Patrick Karen, who is the man in charting 130,000 people follow
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him on the X platform. He he says silver has the most
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most famous and capitals cup and handle pattern right now halting
11:18
at its first yearly. We're going to look at a yearly
11:21
chart yearly defined measured move target of 70 to $75 area.
11:27
That would be the handle that I'm going to make this all real
11:30
clear to you, he says after we get done with an important
11:34
correction. I know guys, I understand.
11:38
I get it. It was no fun having silver go
11:40
down seven straight days, you know, felt like the world was
11:44
ending. All the all the weaklings, all
11:47
the sheeple are gone. The next target on deck is $275
11:56
and let's this is from Northstar Bad Charts.
12:00
Well, that's an advertisement over there for him.
12:02
Silver's historical yearly chart.
12:05
So this is a yearly chart. Each one of these candles on
12:10
this chart represents one year. OK.
12:14
And just so you know, to read a Candlestick chart, when the
12:16
candle's green, that was a green year.
12:19
When the candle's red, that was a red year.
12:22
What the candle measures? Let me draw one for you here.
12:25
Let's say this is a red candle. It's got the candle, and then
12:29
that has the Wicks, OK. If it's a red year, that means
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the price started here at the beginning of the year and ended
12:37
here at the end of the year. It also means that at one point
12:41
during the year, the price got as high as this and as low as
12:45
this. But like I said at the
12:47
beginning, like on a red chart, this is where the the body of
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the candle is the beginning and the end of the price.
12:55
OK, enough of that. You didn't ask for an education
12:58
on that, but so these are yearly candles.
13:02
All right, going back to 1980, do you see the cup, right, the
13:07
old awesome cup. And then we have from 2011
13:12
through just last year, the handle, right, the cup and
13:16
handle formation and then we broke out.
13:19
OK, what he is saying is that I'm looking at this chart, the
13:23
initial breakout, see this little letter, I'm going to
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circle it A and A. So the breakout will will
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coincide with the depth of the handle that level from here,
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that's how far we broke out to here.
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The second phase of this hold on will be see the B over here and
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then do you see this level like he has drawn on the chart that
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will be from here to here and that gets us to $275.
13:59
Now the reason why we pay attention to the cup and handle
14:02
pattern is it is one of the most followed, most reliable right
14:07
and most predictable chart patterns in the history of the
14:10
world on many different asset classes.
14:14
But wait, there's more. Because with a cup and handle
14:17
pattern, the longer the period of time that the cup and handle
14:22
form over, the more predictable, the more reliable, and the more
14:26
powerful the move becomes. And this is a textbook.
14:30
This is 1. I heard the guy Jordan Roy Byrne
14:33
say like 2 years ago. His people have been following
14:36
this cup and handle for a long, long time.
14:39
And I remember specifically hearing him say that cup and
14:43
handle will be in future technical analysis textbooks.
14:47
And Jordan Roy Byrne is a smart guy, a very likable guy and
14:52
someone who is who is is considered to be one of the
14:55
brightest in the world of technical analysis.
14:58
So hold on boys and girls, it's going to get interesting.
15:01
Let's talk about some doom and gloom right now because there's
15:05
plenty of that out there. And let's talk about the US
15:08
national debt because guys, it is not looking pretty.
15:12
We're going to go out the medals and miners who points out that
15:15
the Fed is in checkmate and just doesn't know it yet.
15:19
Why? the US debt spiral guarantees a
15:22
new era of monetization. We got a lot of interesting
15:26
things to cover on this one. Before we do that, I do want to
15:29
say thank you to 1st Mining Gold for sponsoring Ron's basement.
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Parquet located in Quebec. firstmininggold.com is where you
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want to go. Now let's get back to this
15:56
article in the debt spiral. This this was crazy.
16:02
Look at this chart. Oh, shoot.
16:04
I wonder if I can get this on full screen.
16:06
Yeah. OK, close enough.
16:07
This shows us. I had no idea it was this
16:09
extreme. This is the total U.S.
16:12
Treasury debt, 39 trillion that from 2000.
16:17
Hold on. Sorry, guys.
16:19
From 2018, circled in the lower left corner through today, the
16:25
US debt has doubled 2X. OK, Yeah.
16:31
Now where it gets more interesting is hold on, here we
16:36
go. This isn't here.
16:39
He says it. OK.
16:40
This is not a distant problem. It's a crisis that is unfolding
16:43
in real time. The CBO projects that the debt
16:47
will continue to surge by an average 2.4 trillion per year
16:51
for the next decade, hitting an almost unimaginable 64 trillion
16:56
by the year 2036. That's only 10 years years from
17:00
now and that is without any massive change to to the defense
17:05
budget, Social Security or anything else or right, any
17:10
other type of crisis that might come up.
17:13
Look at this, this is our, our, our public debt outstanding in
17:17
this country. I mean, let me draw on here one
17:21
more time from 1976. Do you see?
17:25
Like, I mean, I could see it going more like this and I think
17:28
a lot of people do as well. But here we go.
17:32
This is the Fed's impossible choice.
17:35
The government needs lower rates to manage its debt service cost
17:39
to be able to pay the interest on the debt, but this will
17:43
reignite inflation if they don't.
17:46
This is the key thing to remember.
17:48
Monetize the debt. Rising rates will trigger a
17:51
deflationary spiral. There is no third option.
17:55
Basically what they're saying is as this debt continues to
17:59
explode, if the free market were to were allowed to operate, it
18:03
would make the interest rate on the national debt the treasury
18:07
yield. The 30 year, 20 year, 10 year go
18:10
higher and higher and higher. The government can't afford for
18:14
that to be the case. They can't.
18:15
We're already paying a trillion dollars in interest alone right
18:18
now. So the only real option is for
18:21
the Fed to print, make believe, pay for money, which they've
18:25
done in the past, and buy the debt themselves.
18:28
The only problem with that is that's like, that's like a like
18:32
a company, right? A corporation like doing sales
18:37
to itself. It's like a smoke and mirrors
18:39
trick. The bottom line is with this
18:41
debt level where it is right now, the only thing that can
18:45
happen is the Fed monetizing the debt.
18:47
And some people are saying the Fed has started buying
18:49
treasuries again as of recently. That will only result in one
18:54
thing, guys, and that's the value of paper dollars going
18:57
down. It'll also result in this.
19:00
This is a real easy way to think about it.
19:03
It'll result in this continuing to be the case.
19:08
This comes from the General. Hello General.
19:11
This is how the bankers enslaved people.
19:16
OK, there's AUS American Silver Eagle.
19:19
We're going to look at one here. Live in a second.
19:22
This dollar can buy you. That's $1.27 gallons of gas, 25
19:26
gallons of milk, 50 dozens, a dozen eggs.
19:30
The paper U.S. dollar can buy a quarter of a gallon of gas, if
19:34
even that right now, 1/4 of a gallon of milk and a half dozen
19:40
eggs. Bankers use inflation to steal
19:44
your wealth. Bankers love, love slavery in
19:48
the Fed. Not a big fan of the Fed, I take
19:51
it. Remember, right guys, in
19:53
19651964, for many years prior this, our dollar was backed by
20:00
silver. Here I have two things I can
20:02
show you. OK, number one, this.
20:06
Hold on. Look at this very closely at the
20:10
shoot. Hold on, I'm going to get it for
20:12
you. Bear with me at the bottom, this
20:14
is from like 1930. It says look at the top, my
20:18
shadow's on the way. Hold on, look at the top silver
20:23
certificate and at the bottom. Let's see if I can get that so
20:27
you can see it. It says basically it's
20:30
redeemable for silver. It says specifically $1.00 in
20:36
silver payable to the bearer on demand.
20:40
OK. The dollar used to be backed by
20:42
silver. The dollar, if it still was,
20:45
still would buy whatever, 25 gallons of gas.
20:48
So I pulled this out. I keep hardly any silver at
20:52
home. This is an American Silver
20:54
Eagle, right? That's upside down.
20:59
That's a right side up American Silver Eagle.
21:02
Beautiful coin, almost as beautiful as those products made
21:05
by our friends at First Men, but on the back, because I thought,
21:08
I wonder if it actually says $1.00.
21:11
I want you to look at the bottom of this coin.
21:14
At the very bottom. You see it?
21:18
Yeah, I'm put it right there. One dollar, OK, This dollar buys
21:27
what, 25 times more than this is not what I showed you before.
21:34
This is a current paper dollar than a current paper dollar.
21:37
This is not a silver certificate.
21:40
That's what happens when you have out of control debt like we
21:43
just looked at. OK, guys, more, more economic
21:47
doom. Hold on.
21:48
We got more economic doom. What does this tell us?
21:51
This. The facts don't lie in this one.
21:54
There's a there's a strong message in it and it's really
21:58
out in the public. This came from a Reddit post.
22:02
Hold on, there it is. This is Google searches for up
22:09
here in the upper left corner. Can't afford OK search term.
22:16
This shows from what the year 2010 through today.
22:21
How many people are searching on Google for a search that starts
22:25
with can't afford? Do you see right #1 the upward
22:29
trend is the dollar is lost value.
22:32
But look at what's happened just in the last few months.
22:36
It is absolutely exploded higher. the US economy is on
22:42
thin ice, fragile, fragile ground right now.
22:45
And it makes, it makes perfect sense, right?
22:48
Everything that we're talking about, about what could possibly
22:51
come with the with the devaluation of the US dollar.
22:57
And on that, on that note here Verson, Verson sells with shares
23:01
with us is a followed by 100,000 people.
23:05
In the new financial system, collateral matters more than
23:10
currency, paper money, currency, OK, people aren't trusting each
23:15
other anymore. Countries are not trusting each
23:18
other anymore. Gold, silver, commodities, real
23:21
resources, that's the foundation.
23:24
So when you see prices pushed down, think about this while
23:28
trillions are being prepared or printed, understand what what's
23:34
happening. They're by they're using paper
23:37
to buy real assets. OK, now this is crazy.
23:42
We know. Hold on, hold on.
23:45
I'm back. I lost you there.
23:47
Hopefully you can see me and hear me.
23:49
Thanks a lot again for joining me down in the basement.
23:52
What a wonderful group of people, a wonderful community.
23:55
Somebody thinks the price of gold is going to go to $15,000
24:00
per oz by the end of the year. And it's pretty crazy.
24:04
And this is getting a lot of attention in the precious metals
24:08
community. And let's take a look at what's
24:10
going on and what it means. This right was shared by Weimar
24:16
warning something extremely unusual is happening.
24:22
Insiders are buying Comex gold options at 15,000 to 20,000 for
24:28
December 2026. Gold is around 4700 right now.
24:33
This means they expect the gold price to triple.
24:36
All right. And he goes through the whole
24:37
thing about what's happening and people are, you know, somebody's
24:42
up to something. But in yellow, he said now the
24:45
structure is around 11,000 contracts.
24:48
And I thought these were call contracts, which are which each
24:52
contract represents 100 oz, which means we're at like he
24:55
says, 1.1 million oz or about 5 billion of gold at today's
25:01
price, or about 16.5 billion of gold at the 15,000 strike mark.
25:08
And then they've got a big fancy chart down here showing what's
25:11
going on. But I want to explain to you
25:13
what this means. And as I understand it, this is
25:16
a what's called a call spread. If you heard of puts and calls,
25:20
right? In the options world, a put is
25:22
the is a bet that the price of something will go down.
25:25
A call is a bet, a call like CALL that the price of something
25:30
will go up. It's a contract that you buy.
25:33
You're not actually buying the underlying asset, but you're
25:36
buying a contract. When you buy a call that gives
25:40
you the right to buy whatever the underlying asset is.
25:43
In this case, we're talking about gold, the right to buy it
25:47
at a certain price at a certain date.
25:50
These calls are for December of this year.
25:53
So somebody's buying a contract and somebody's selling the
25:56
contract as well. That's part of the process.
26:00
But they're buying a contract to be able to buy gold at $15,000
26:04
per oz in December 2026. They're doing that because they
26:08
think the price is going to go higher.
26:11
It's worthless if at on December of December of 2026 it's below
26:18
15,000. And then it's called a call
26:21
spread because then they're actually selling the same call
26:25
at the $20,000 mark. So they make a profit if gold
26:29
goes anywhere between 15,000 and 20,000 by December of 2026.
26:36
But it's a huge bet and people are like and they didn't start
26:40
making it until after gold started pulling back.
26:43
So it's generating a lot of interest and speculation within
26:49
the precious metal sector that somebody is making a huge bet
26:53
that gold could go above 15,000. OK, what about, I forgot to tell
26:58
you the Wall Street Journal indicator.
27:01
We got to talk about that. We got to do a visit with the
27:03
sheep one more visit with the sheeple and then the biggest
27:08
factor that's going to push gold and silver higher again, guys,
27:12
thank you for being here. You guys are so awesome.
27:14
Let's talk about the Wall Street Journal indicator, the Wall
27:17
Street Journal, right, the Wall Street Journal, the the, the
27:21
highly respected financial newspaper in the United States,
27:24
blah blah, blah. Who has a track record of being
27:29
wrong about gold and silver? There's that article that came
27:32
out years back where they were quoting that it oh, it's nothing
27:35
but a a barbarous relic or a pet rock or something along those
27:39
lines. They've never been.
27:41
The Wall Street Journal is, let's say, in cahoots with the
27:46
mainstream financial media in the main and the mainstream
27:50
financial tradfy system, who has never been very favorable
27:54
towards gold and silver. The reason why, right, the big
27:58
financial services companies don't recommend gold and silver
28:02
to their clients who they're looking out for is typically
28:06
because there's not a lot of big commissions to be made in the
28:09
gold and silver sector on the tradfy side of things.
28:13
But the Wall Street Journal indicates indicator to me is
28:16
absolutely that when they come out with something negative
28:19
about gold and silver, let's just say there's been a
28:22
historical precedence set. The gold and silver continue to
28:26
prove our friends at the Wall Street Journal to be incorrect.
28:30
And we got a big Wall Street Journal indicator we're going to
28:34
look at right now, see if I can get this up on the screen for
28:37
you. Here we go from the Wall Street
28:40
Journal, Markets and finance, commodities and future
28:43
streetwise. All right, here's what they
28:46
said. War and inflation are supposed
28:50
to be gold's friends, but not this time.
28:53
And then they had the gall to say this.
28:56
Investors would have been better off in micro cap stocks than in
29:00
the oldest source of safety. At least they recognize gold and
29:05
silver. Our gold is the oldest source of
29:07
safety. This is by James McIntosh.
29:10
I don't know why there's not a date on there.
29:12
It didn't show up. But as I understand it, this
29:14
well, obviously it was recent after the war that we had a
29:19
breakout in the in the Middle East.
29:21
So we'll see if the if the Wall Street Journal indicator stays
29:27
in line with what it's done in the past.
29:29
Let's have some fun. There's nobody who I like to,
29:34
who I like to watch more keep an eye on than this guy on X called
29:38
Make Gold. Great.
29:39
He comes out with some incredibly funny things and
29:42
we're gonna laugh now. It's important we laugh, right?
29:46
And we'll be laughing long term together in the gold and silver
29:50
sector. But let's take a look at this
29:52
one from our friend Make gold great again.
29:54
I love this guy. He's awesome.
29:56
Very simple post, right? Retail investors selling all
30:01
their gold and silver at the exact bottom and then he puts
30:05
this up. Hold on, I get it on full screen
30:08
for you. I got to play it again.
30:12
All right, Now it's playing. So these are the the retail
30:16
investors selling all their gold.
30:18
Oh, I forgot to pull it up. Shoot.
30:20
Thank you. Upstairs.
30:21
There's upstairs, Susie, saving the day.
30:24
Thank you, Susie. Now it's on your screen.
30:26
Sorry, I had you look at the Wall Street Journal indicator a
30:29
little too long, but now that's what make gold great.
30:35
Those are the people. Those will also be the people,
30:39
the other 98% of people in the United States of America anyway
30:43
that have no clue about the about the benefits of gold and
30:47
silver. When they wake up and start
30:49
heading through the local coin shop, that's what it's going to
30:52
look like. And when they get there, and we
30:54
like to affectionately refer to those people as as what we like
31:01
to refer to them as the the sheeple, there's not going to be
31:08
any gold or silver at their local coin shop.
31:10
They'll walk in there and find that the cupboards are bare.
31:13
But that's OK because the mining sector will be able to produce
31:17
tons of more silver, Right? Wrong.
31:21
Right. The mining sector, the 80
31:23
percent, 70% of silver that's produced by the mining sector,
31:27
70 to 80% of it is produced on accident.
31:32
Do you realize that, right? It's a byproduct of of lead
31:36
mining, zinc mining, nickel mining, whatever it's a copper
31:39
mining it's a byproduct like the mining sector is not going to be
31:44
able. I heard somebody say, oh, price
31:46
fixes everything. Not necessarily in silver,
31:49
right? Because those big copper
31:52
companies are going to say, boy, maybe.
31:54
I mean, copper mines cost like $5 billion to build.
31:58
They take and they're like, they can't, they're we're just going
32:02
to start trying to mine silver. It doesn't work that way.
32:07
We aren't going to have a new massive supply of silver come on
32:10
the market. Oh, and then you know what, you
32:12
know what people will say to us. Oh, well, a lot of people will
32:15
sell their silver when it gets to, you know, although a lot of
32:19
those people sold during this most recent run up that we had,
32:23
there's not a huge amount of what I like to call the silver
32:28
rainy day fund, right? The above ground silver, the
32:31
excess silver that was mined in a sitting and maybe it's in
32:35
your, your house, I don't know, your basement, whatever.
32:37
None of my business. There's not a lot.
32:40
We've been, we've been borrowing from the silver rainy day fund
32:46
for now going into our sixth year.
32:49
OK, almost what 900 million oz have been borrowed from that
32:54
reserve of silver that's been mine for thousands of years.
32:58
Oh, and by the way, most of that silver, well, they can recycle
33:01
it. No, very little silver gets
33:03
recycled. Oh, and one more thing, one
33:08
little cherry on top that we need to remember the man for
33:13
silver from industry continues to explode higher.
33:16
But let's talk about the biggest factor.
33:18
We got 1000 people on here. Hey, welcome everybody that this
33:23
channel. Hold on one second.
33:27
Upstairs we got, we got, we got a mate, we got a whopper, A
33:31
whopper and real data to support the whopper that we're going to
33:34
talk about now. But let's check in with the
33:37
lovely and talented my assistant, my wife, my boss
33:41
upstairs. Susie, did you say we got a
33:43
super chat from ODBG? OK, I didn't.
33:50
She said yes, we're going to get to that.
33:53
We're going to make OD old dirty bastard garage.
33:56
He's been around with us for a long time.
33:58
Let's talk about the whopper that's going on right now.
34:02
That's going to be good news for silver and gold for literally
34:07
decades to come, OK. And that is stagflation, But we
34:11
can talk about it. We've talked about it for years
34:14
down here in the basement that we are in and heading toward
34:18
more and more stagflation. We heard about that earlier, the
34:22
Fed, the Fed, the Fed can't lower rates because it'll cause
34:26
inflation. the Fed can't raise rates to stop inflation because
34:30
it'll kill the economy. But let's look at some real,
34:33
real facts. And I, it's real simple and easy
34:36
to understand guys. When we look at this, Michael
34:40
Gayed who's a chartered financial analyst or CFA, copper
34:44
is down 8% this month. Oil is a 50% in three-week
34:51
weeks. 1 screams recession. I'll highlight that that's
34:55
copper. That's called doctor copper.
34:58
If you have never heard that term before.
35:00
Copper has been referred to as doctor copper for decades
35:03
because copper indicates the the strength and vitality of the
35:08
overall economy and copper is down, which means the economy is
35:14
not doing great. But at the same time, 1 screams
35:18
inflation. That would be oil, right?
35:22
That is the lifeblood of the world economy.
35:24
That is the biggest impact on inflation.
35:27
It is up. So we've got the biggest
35:29
economic indicator down significantly, copper, while at
35:34
the same time the biggest inflation indicator, oil up an
35:38
astronomical amount. We just don't have stagflation,
35:42
guys. We've got super stagflation.
35:44
It says both can can be right at the same time.
35:48
Oh, he says it right there. Thank you, Michael.
35:50
I'll highlight that. That's stagflation and it
35:55
destroys everything. Guys, I want to show you a
35:58
visual, OK? We made this in the basement
36:03
together, right? Literally 3 years ago.
36:06
It says do not open is the scariest thing in the world.
36:10
Why it's a box? Because on one side you've got
36:13
recession, you got copper going down.
36:16
Like we just talked about Doctor Copper, paging Dr. Copper,
36:20
paging Dr. Copper, copper going down.
36:24
On the other side, we have inflation.
36:26
We have oil of 50%. We already from shadow stats had
36:30
high inflation. This box says do not open
36:34
because if there's one thing that scares the pants, I could
36:38
see him pants in the next Fed the next fed meeting his pants
36:41
are going to fall down the pants off of everybody at the Fed.
36:46
It's that right? He hates stagflation.
36:49
He hates it and the only thing that they're ever going to be
36:53
able to do. I need to fix this.
36:55
Hold on, hold on to bring that upstairs and use that in the
36:59
powder room is print more money. OK.
37:03
All right. And by the way, just for the
37:06
record, what you're hearing is not true.
37:09
Susie and I do not use this as toilet paper in our house.
37:12
OK guys, we are in for an incredible wild ride.
37:19
We are going through a period of of chaos of drama in the world
37:25
right now like no other. There is no better medicine for
37:28
that than physical gold, physical silver and I believe
37:32
precious metal mining sucks. Remember, I'm not a financial
37:35
advisor. Don't you know, make any big
37:37
major financial decisions based on what I say?
37:39
Cuz I got some good news for you.
37:41
You are smart. The people that come and hang
37:44
out in the basement have have you got a little, well, let me
37:48
tell you something about yourself.
37:49
You got a little more intellectual horsepower up there
37:53
than the average bear, right? That's a fact.
37:57
Listen to yourself, listen to me, listen to other people read
38:01
all that great stuff. For me, what I believe
38:04
wholeheartedly is that silver and gold are the are the time
38:08
tested in in a fundamental great way to protect wealth absolutely
38:14
bar none. What else did we cover?
38:16
Let's do a quick recap and then we're going to go we're going to
38:18
you know what let's do this first we got to we got to pay
38:21
some homage to one of the best right ODBG, old dirty bastard
38:26
garage embrace the manipulated slams.
38:28
I mean free natural trading. This is our friend ODODBG.
38:34
Thank you for the Super chat. You are famous, right?
38:38
Not only in your garage, but on the Internet today, my friend.
38:42
OK, we got JP Morgan telling us we're OK with gold.
38:45
We've got the cup and handle pattern telling us $275 silver
38:50
is on our horizon. OK, we got the Wall Street
38:53
Journal indicator that tells us everything is going to be OK.
38:58
And you know what? Most importantly, we have each
39:00
other. So thank you for coming down
39:03
here in the basement today. Yes, it, you know, we've talked
39:06
about it many times. We will navigate the choppy
39:09
waters of the precious metals market and we'll do it together.
39:13
Let's not forget while we're sitting at around 70 ish dollar
39:17
per oz silver today, one year ago, what was the price half of
39:21
where we are, OK, if we are building a base, we are building
39:25
a foundation and we've talked about this for the last month.
39:28
Even if that's in the 60s or 70s or 80s, right?
39:33
Who knows where it's going to be built eventually.
39:36
That will provide a platform for a tremendous move, in my
39:41
opinion, in the price of silver. And we're going to do it.
39:45
And we're going to do it to, oh, we got 300 thumbs up.
39:49
Let's ring the gong. What the heck?
39:50
We didn't even talk about China today.
39:55
Oh, dirty bastard garage. That's the good luck gong.
40:02
The golden gong, guys, we're in good shape.
40:04
Take care of yourself, OK? I appreciate you, Susie.
40:07
Appreciate you. Don't forget.
40:09
Please subscribe and we will see you.
40:11
And we're watching. We see you.
40:13
Thanks for being here with me today.
40:15
We'll see you soon. Bye.
40:16
Bye.