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🛑 This Guy is Always RIGHT!.. SILVER Price Forecast is Stunning! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
$40 silver. What if the guru himself, the
0:06
guy who always gets it right, is making a big call right now for
0:12
$40 silver, basically saying right now is the time to buy
0:17
silver? Should we listen to him?
0:19
Shouldn't we at least consider what he is saying?
0:23
We're going to dig into that. And he also has some very
0:26
interesting observations on the precious metals markets in
0:29
general, both gold and silver. But what we're really interested
0:33
in is this recent call that he made that silver could go to
0:37
$40. Let's dig into it right now.
0:40
But at first, thank you for being here.
0:42
Yes, you all right. We appreciate your time.
0:45
It's a big deal when you join us here in the basement.
0:47
Hopefully what I want you to feel is that you found a little
0:50
home away from home, a little refuge from the storm, the
0:54
precious metal storm at times. Please give this video a thumbs
0:58
up and subscribe to the channel. We're on a big push to get to
1:01
40,000 subscribers. We appreciate each and every one
1:05
of you because there's only one you.
1:07
Let's talk about $40 silver here, guys.
1:10
We're going to go to an article from Kitco, a good reliable
1:15
source for information. The title of the article,
1:19
Sentiment speaks Silver is set up to shine.
1:23
Again, this is from the guy that I'm going to call the Guru, and
1:27
he talks about $40 silver. His name is Avi Gilbert.
1:31
I'd not heard of him until last night, but when you hear about
1:35
his track record, I think you're going to be super impressed.
1:39
But first he points out, oops, some interesting points,
1:44
interesting quirks about the silver and gold market that we
1:47
need to pay attention to, he said.
1:50
When I think about the metals market, I chuckle as it has
1:53
obliterated just about every expectation many have had about
1:58
what drives the market. He points out three pertinent
2:02
things here. Number one, we've seen metals
2:05
decline during a strong inflationary period in 2022
2:10
where in most were expecting it to rally alongside inflation.
2:15
Remember that runaway inflation, right gold and silver, we're
2:19
struggling. OK, that went against everything
2:22
that the kind of the common consensus of what should happen
2:26
that's cork #1 cork #2 is we've seen metals rally alongside the
2:32
US dollar when most were expecting it to move in the
2:35
operate opposite direction to the dollar again, right?
2:39
The dollar was going up and gold and silver were going up.
2:43
We've had a lot of long standing Co relations relationships
2:46
thrown out the window and we've seen rallies surprise many
2:52
market participants due to a quote, lack of clear catalyst
2:57
days when we'll have big up days or big down days in the precious
3:02
metals and nobody really knows why.
3:05
Speaking of which, let's run out and take a look at the silver
3:07
and gold price. Now's a great time for us to do
3:10
that after I say hold on, hello to you again.
3:14
Wow, 200 of us. Thank you guys for being here.
3:17
We're going to run out and then we're going to get to the $40
3:20
silver prediction, but let's do an update on the silver and gold
3:25
price. We're going to press the PMBEX
3:27
button and all right, gold's up $15.
3:30
Wow, silver up $0.70. Maybe this.
3:34
Abby, guys, on to something. Thank you to PMBEX for
3:38
sponsoring Ron's basement. Guys, all I ask of you is that
3:43
if you're in the market for silver, gold, platinum group,
3:46
metal, metals, give Pembex a chance, OK?
3:49
I learned about them from you. I've worked with them myself
3:53
before. They sponsored the channel.
3:55
I always find I get the best ultra competitive pricing, great
3:59
selection and I trust them. I mean, I know the owners.
4:03
They're good people, good solid individuals, Cpas, both of them,
4:07
if I remember correctly, just great guys and they really want
4:11
to get the most metal into the hands of the stacking community.
4:15
I just want to point out to you, I find this just crazy right now
4:21
you can buy 2023 Great Britain silver Britannia coins, the ones
4:27
with Charles the 3rd on the back.
4:30
OK, and these are brilliant uncirculated condition.
4:34
Look at this. There's Charles.
4:36
You can buy these for as low as $31.17.
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OK, that's if you pay with the ACH or a wire.
4:44
You can get one to twenty of them for $32.
4:48
That is not very much over the spot price for silver.
4:51
I think the Chinese would be thrilled to have that same
4:54
opportunity. Please guys help support our
4:57
channel sponsor like pin backs and if you ever get in the
5:00
situation where you're going to convert all or part of an IRA,
5:04
please please, please take your time and make sure that one of
5:09
the companies you talk to is Pembex.
5:11
Compare how much actual gold or silver you can get for your
5:14
money. It says next.
5:15
While anyone that has followed my work through the years should
5:18
not be surprised, I've attempted time and time again to outline
5:23
the many fallacies propagated throughout the metals market,
5:27
all the lies in the metals market.
5:29
OK, while also outlining the most accurate manner in which
5:33
one should track the metals. The next part of this article,
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I, I changed the font to green. We're not going to read that.
5:42
But he's, he's pointing out how accurate all of his call and
5:46
this guy has made many, many very accurate calls.
5:50
There is one comment I want to read from you that attest to
5:54
this obvious ability to be so accurate with his metals calls.
5:58
Doug Earbart, who's a metals dealer and a popular metals
6:03
analyst at Seeking Alpha. Seeking Alphas, that paid
6:06
subscription service that that some higher end investors
6:10
subscribe to, to get investment advice.
6:14
So this guy's a metals dealer and he's an analyst at Seeking
6:18
Alpha. He said this about Avi.
6:21
He said. I can attest to his accuracy on
6:24
actually buying both gold and silver from us. close to the
6:28
bottom is one could with gold. Avi called it to the letter and
6:33
your limit order which was placed well in advance executed
6:36
perfectly. The silver limit orders were
6:39
within a tight range of the lows as well.
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Your timing on buying the dips is uncanny Avi, people should be
6:47
aware of this. This is like the secret silver
6:50
guru that we have now, guys. A few years later, Avi caught
6:55
the exact bottom in silver. In 2020, the same guy, the
6:59
analyst for a Seeking Alpha and gold and silver dealer, Doug,
7:03
wrote this about Avi. He said, quote, Avi has the
7:07
magic touch. Listen to him.
7:09
And I want to explain to you all what Avi did for you.
7:14
He got most of you to buy metals before the premium shot up and
7:19
before everyone ran out of product.
7:23
This is the second time he's done this and kudos to him for
7:27
doing that for you. So this guy, this is not Avi
7:30
saying this about himself. These are other people, analysts
7:33
for Seeking Alpha Metals dealer same, you know, saying that this
7:37
guy basically has the magic touch and there's more examples.
7:41
You can go back to Kitco and read this article for yourself.
7:44
But all this in green talks about past calls that he made
7:48
that were uncanny and accurate. But now, right now he talks
7:53
about silver. He says, so now I'm going to
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give you a heads up on silver. This is our heads up basement
8:03
dwellers based on the current setup I'm seeing on silver
8:06
support is now in the 28 to 29 region.
8:09
Didn't we say that yesterday? I think we, I think I know I,
8:13
we, we said $28.00 is like the line in the sand.
8:18
And so far we're holding it. We just saw from our friends at
8:21
Pen Backs where Silver is right now.
8:23
As long as that holds its support, this setup is
8:27
projecting us to an ideal target between 3650 and the $40 region.
8:34
In a very strong and relatively fast rally, this setup will
8:39
trigger by a strong move through $32 per oz.
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I say 30. Avi says 32.
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Maybe we'll listen to Avi, but I think it's more like 30.
8:53
As an aside, if Silver is unable to bust through the $32 region
8:59
on the next rally, then it will mean that we will likely see one
9:03
more corrected pull back before the strong rally to 36 or $40
9:09
per oz and ultimately higher. Silver has significantly lagged
9:16
during the gold rally. We know that right?
9:18
The gold to silver ratio extended like takes like 85
9:22
ounces of silver to get one ounce of gold right now.
9:25
And I cannot say that this is unusual to see the various metal
9:30
charts at different degrees and their structures.
9:34
If you may remember, silver topped in April of 2011, whereas
9:39
gold continued to rally until it struck its top, its top five
9:43
months later in September. So I think silver is now going
9:48
to make an attempt to catch up. That means a compression of that
9:53
gold to silver ratio maybe down to 60, right?
9:56
What would a 60A60 gold to silver ratio that would
10:00
essentially be roughly $40 silver.
10:04
OK. And when Silver runs, boy, does
10:08
it run. In fact, a parabolic move such
10:11
as the one scene in 2010 or 2011 is not out of the question.
10:17
And guys, that's when Silver absolutely Moon shot it.
10:20
But we're going to take this one step at a time.
10:24
Again, this is Avi Gilbert. There's an article from Kitco.
10:29
He's the guru, and he's telling us guys that silver is about to
10:34
run. How do you feel about it?
10:36
Feels like to me. And like he said, everything's
10:38
been thrown out the window, right?
10:40
All these old relationships between the dollar and gold and
10:44
silver, you know, inflation and gold and silver, it's going to
10:48
be super interesting. So let's keep an eye on Avi.
10:52
And hey, this guy's called it, right?
10:54
It's not just those two examples that we talked about throughout
10:58
the last like 20 years. He's made some very crazy
11:02
accurate predictions about the silver price.
11:06
Are we ready? Are you ready?
11:08
Can can you accept $40 silver? I I can, Can you accept that it
11:14
could actually happen? I know, right?
11:18
It seems far-flung. I've called for $44.00 silver by
11:22
Christmas. Based on what I'll be saying,
11:25
that's within the realm of possibilities, But I think it's
11:28
hard for a silver investor sometimes to really accept the
11:31
fact that these prices can skyrocket.
11:34
Hey, it happened to Bitcoin, right?
11:37
It happened to Apple computer stock.
11:39
It happened to uranium. Heck, it even happened to gold.
11:44
What's to keep it from happening to silver?
11:47
There's nothing keeping it from happening to silver.
11:50
OK, Hey, I can't pull up today's.
11:53
I want you to leave comments. Please leave comments in the
11:56
comment section. Give me your feedback.
11:58
I want to hear from you. Right.
11:59
We're a community. We're a group.
12:00
We learn from each other. For some reason having a hard
12:05
time, Yep, it won't let me pull up my slides.
12:08
So I'll tell you what the comment for the day was from
12:10
you, the basement dweller community.
12:13
One of you pointed out that the current situation in the silver
12:17
market right now, the fact that the above ground supply of
12:21
silver is being drained. This guy said it was like a
12:24
pond. So I want you to imagine like a
12:26
pond, like a little farm pond and that's all the above ground
12:30
silver in the world. He said the mining supply is
12:34
like a garden hose that's filling the pond up, while at
12:37
the same time there's a big pipe siphoning out water on the other
12:42
side. And that's the demand that we
12:45
have for silver right now from industrial uses, from investment
12:50
uses. And that's the situation.
12:52
Eventually the siphon overcomes the little new supply coming in
12:58
from the garden hose. So thank you for that comment.
13:01
We're having some technical problems today.
13:03
For whatever reason, we can't get it to work.
13:05
Thank you to the moderators. I see Annie Oakley, I see Jake
13:08
from Jake's custom parts. I don't know a big Tim
13:11
Silvershire's here, and I think Susie's out for a walk.
13:14
She's had enough of me. You know what it's like being
13:16
married. Those of you who are married are
13:19
in relation. She took off for a little bit.
13:25
OK, be ready. Tomorrow guys, is the big day.
13:29
Tomorrow could be crazy in the gold and silver markets.
13:32
Today's pretty good. Let's go out to pen backs one
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more time and just do an update on, oh, now we're up 12.
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OK, we're back to up 18. Wow, Silver is up $0.77.
13:45
This is big. Excuse me?
13:49
We're approaching, what, 2 1/2 percent up on silver?
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That is awesome. Maybe this Ivy guy's right.
13:57
I mean, guys, it's getting fun. I don't know how else to say it.
14:03
Tomorrow is going to be crazy. We get we get the August jobs
14:09
number. It's the biggest piece of news
14:10
of the week. It will impact the markets. 2
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things I can tell you to expect out of the August jobs.
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Number two things for sure. OK, and then we'll talk more
14:21
about it. But number one, it will have an
14:23
impact on the silver price and gold price #2 it will be a bunch
14:30
of crap. Excuse my language.
14:32
I'm thinking whatever number they come out with about the
14:35
number of jobs created, we can basically based on past
14:40
experience, deduct what about oh, at least 60, maybe 70,000
14:46
jobs from that number. I mean, at what point, at what
14:50
point does the market, not just you and I, cuz we know that
14:53
numbers a bunch of BS, but at what point does the general
14:56
market start to realize like we can't trust these numbers from
15:02
the BLS? They have proven to us they, I
15:05
mean the most recent revision right was that they were going
15:08
to, they overstated during the last one year, March of March
15:13
through 2024 by 818,000 jobs. What's 818 / 12, roughly 70.
15:22
So we can really deduct whatever number they give us tomorrow, we
15:25
can deduct 70,000 jobs from it. I bring up one final point on
15:29
this and that is what about those 818,000 people out there
15:34
with make believe jobs? I wonder if they're getting the
15:37
cash their make believe paychecks.
15:39
That's by dynamics, right? It's all a little bit of make
15:42
believe, a little bit of magic if you will, right?
15:45
Not a political statement, just stating the facts, right as
15:49
we're told how great and strong the economy is.
15:52
But what did we learn yesterday, What did we learn yesterday from
15:56
the Institute for Supply Chain Management, the PMI and whatever
16:00
the other manufacturing number was, right?
16:03
We're hearing the comments from the people from companies saying
16:07
like business is at best very slow and some businesses saying,
16:12
hey, things are bad, right? Like people are predicting now
16:15
that we could see mass layoffs coming.
16:19
They're saying in the construction field in
16:21
particular, right, that we could see major, major layoffs coming.
16:25
So we're going to have to stay abreast, make sure I'm not
16:28
missing something here. Hold on.
16:29
Somebody's trying to get a hold of me.
16:32
All right, Everything's cool. So tomorrow is the big day.
16:35
Tomorrow will be a massive move, most likely.
16:38
I got a feeling. What do you think?
16:41
Is tomorrow an up day or a down day for the metals?
16:45
I got a feeling it's going to be an up day.
16:47
I got about a 65% feeling. Put it in the comments.
16:50
What do you think guys? Thank you for being here.
16:54
By the way, don't forget, please subscribe to the channel.
16:58
Super chats are always super appreciated.
17:01
We read all your comments. Usually I'm really upset here.
17:05
We're having technical problems. I can pull up the slides, but
17:08
for some reason Stream Yard, which is the service I use, is
17:12
having a little trouble with that today.
17:14
So we'll just we'll just move on.
17:17
What about China? This is crazy.
17:21
I was shocked. I didn't know, OK, we're always
17:25
learning together. I was shocked when I learned
17:28
this piece of data about China. You know, China is is sucking in
17:32
all the world silver. So is India.
17:35
But now it makes sense why when I read when I read this data and
17:40
I've got a piece of data about China in their manufacturing
17:44
sector, which is absolutely crazy.
17:47
Do you ever ask yourself why don't we have any Chinese cars
17:52
in America? Does China even have a car
17:54
manufacturing business? Oh, yeah, they do.
17:58
And wait till you hear about this.
18:00
But first let's go out and talk about a couple.
18:03
And then this is crazy. Also, wait, this is nuts.
18:07
OK, Wait till you see this. I'm not going to spoil it for
18:10
you. The Silver Academy says silver
18:13
strategies how China is leveraging precious metals to
18:17
challenge U.S. economic dominance.
18:20
China is is taking over the world's manufacturing.
18:24
OK, whether you look at electronics, military equipment,
18:28
everything but electronics in particular and think about this,
18:33
we don't there's no Chinese. I mean, a lot of the actual
18:36
Chinese brand like Huawei, which is the biggest China, is not
18:40
available in the United States, right?
18:42
Supposedly the story was they were spying on us.
18:46
I happen to think maybe I don't want to be a tinfoil hat
18:48
conspiracy theorist, but they didn't want the Huawei phones or
18:53
tablets being sold in the United States because they were going
18:57
to kick booty. I hate to use that term, but I
19:01
can't think of anything else they were going to.
19:02
They were going to kick booty and look at this phone.
19:06
This is the newest phone from Huawei.
19:08
Sit back and you're going to be shocked when you see this.
19:13
It's a trifold phone, so it looks like a normal phone.
19:17
And this is going to be coming out here in the next month or
19:19
two months. Watch that again.
19:22
And it folds out like a tablet. I can watch that all day.
19:26
I mean, it's just absolutely crazy what they're doing.
19:30
OK, That's Huawei. They're the leading Chinese
19:33
technology company. It exemplifies Chinese prowess
19:38
and innovation and connectivity. I mean, they, they're on,
19:42
they're on top of things, guys. OK, China gets it, though.
19:46
This is where it gets interesting because it gets gold
19:49
and it gets even more silver. China, along with Russia and
19:58
India, is actively working to devise an economic system that
20:02
challenges the dominance of the US dollar.
20:06
The strategic shift is part of a broader D dollarization movement
20:10
among BRICS nations aimed at reducing reliance on the US-led
20:15
global financial system. What did we just learn shocking
20:20
news recently from Bank of America, right that now gold is
20:25
the number one reserve asset in the world, only behind the US
20:30
dollar. Gold is overtaking the euro.
20:33
Gold is gaining ground, and it's because of what countries like
20:37
China and India are doing. China in particular, recognizes
20:41
the importance of precious metals like silver and gold,
20:45
both for their monetary value and industrial application.
20:49
By importing large quantities of silver, China aims to counter
20:54
Western COMEX manipulators. We know that on the Shanghai
21:01
Gold Exchange that I emphasize the high because the price of
21:05
gold and in particular silver is usually silver's usually 10 to
21:10
15% higher on the Shanghai market.
21:14
And the Shanghai market is a physical market.
21:18
Silver is critical. Hold on here, let's go quickly
21:26
because it's been 2 weeks since we went out and visited our
21:29
friend the Shanghai Ghost. We're on a little field trip
21:31
here. We're going out to Twitter.
21:34
I still call it Twitter and let's go to there.
21:37
He is the Oriental ghost. I always get that wrong.
21:40
All right, let's see if he put out data.
21:43
Here's data from September 5th. OK Silver, $31.00 per oz.
21:49
That's where it closed last night on the Shanghai Gold
21:54
Exchange. Silver, $30.94, Shanghai Futures
21:59
Exchange, the SFE, 31 dollars. We're seeing continued draining
22:06
of the silver vaults. Where were we here in the US?
22:12
We're at 29. Wow, silver.
22:14
Let's do an update here. This is crazy.
22:17
Wow, guys, silver's up $0.87. I'm sick as a dog and I'm still
22:23
happy with silver. I'm almost a buck.
22:27
Nonetheless, on the Shanghai Gold Exchange, it's still up two
22:30
bucks. And when this closed, silver was
22:33
probably closer to 28. So we're still seeing this.
22:36
All right, let's get back to our, our China.
22:38
China has emerged as a, as a OK, well, here I'm sorry, in orange.
22:45
This silver is crucial not only for solar in electronics, but
22:49
also for aerospace and military applications.
22:52
But wait, there's more. The Shanghai Gold Exchange plays
22:56
a pivotal role in setting silver price, creating an arbitrage
23:01
situation, which means you can buy it at the COMEX in the LBMA
23:06
for $28.00 and you can sell it in China for $31.00.
23:11
Like we just showed. That could potentially drain
23:15
global silver vaults, except for the one that you basement
23:18
dwellers have in your basement. And by the way, everybody do do
23:22
what I'm doing. Look at one of your ounces of
23:24
silver and imagine that it's gone up in value by about $0.80
23:28
right now. Drain the global silver vaults.
23:31
Especially given the short supply and the lack of new
23:34
discoveries, China has emerged as a global manufacturing
23:38
superpower juggernauts surpassing the capabilities of
23:42
many other nations, including the United States.
23:45
This dominance is evident across various sectors such as
23:49
automotive, heavy machinery, solar energy, blah, blah, blah.
23:52
Guys, this is what I want to just focus on right now, but I
23:56
got more. It's crazy.
23:58
This this is what caught my attention. the US has Ford and
24:02
General Motors, China has 20 times more.
24:05
Look at all these Chinese auto manufacturers.
24:09
I had no idea, but but it gets even crazier.
24:14
Guys, sit down, sit down. Because we got we went a layer
24:19
deeper. And thank you to our friend John
24:21
Little at the Silver Academy for that excellent article.
24:24
But we went a layer deeper. Wait till you see this.
24:27
This is a website. Hold on, do I have it up?
24:30
I don't have it up now. I got it up.
24:34
Called Just Auto right now. This was from December of last
24:39
year and it's an article about the Chinese automobile industry.
24:46
Wait, I got a couple things I want to read to you.
24:48
China's light vehicle, which I think means like sedans and and
24:52
maybe pickup trucks, small pickup trucks.
24:55
Production total has ranked first in the world.
24:58
I I'm, I'm, I'm I, I plead ignorance.
25:02
I knew that China made some cars.
25:04
I knew maybe they made some electric cars.
25:06
I had no idea. How massive.
25:09
Did you know how massive the Chinese automobile manufacturing
25:14
industry is? They are ranked first in the
25:17
world for 14 consecutive years and is expected to account for
25:23
32% of the global total in 2023. Remember something?
25:29
Every car has silver in it. Every internal combustion cars
25:35
have, you know, traditional gasoline powered cars, electric
25:39
cars have multiple more times silver in them.
25:43
And and don't forget with the new solid-state battery being
25:48
introduced by Samsung, that amount at some point here in the
25:52
very near future could be almost 1 kilogram or over 30 ounces of
25:57
silver per car. No wonder China is sucking in
26:02
all the world silver as can be seen by the chart below.
26:06
Wait till you see this guys showing the top ten light
26:09
vehicle production areas of the world.
26:12
China's production has reached 1.7 times that of Europe in
26:18
second place. Let's go down and take a look at
26:24
this. I was stunned.
26:26
I was shocked. OK, these are the global top ten
26:29
regions for car manufacturing in the world. 2022 is the dark blue
26:35
line. 2023 is the light blue line.
26:41
OK, now look at China and growing right again. 2023 they
26:49
grew millions of vehicles. I guess that is almost 30
26:53
million vehicles. Who's in 2nd place?
26:56
All of Europe combined. Maybe did 15,000,000 who's in
27:00
3rd place? All of North America combined.
27:05
If you combine all of Europe and all of North America, it's
27:10
barely a little more combined than what China alone has
27:15
manufactured. Does it make sense to us now why
27:19
China is sucking in all the world's silver, why China is
27:24
sucking in all the world's copper, and a lot of other
27:27
things. Guys, I was shocked to learn
27:30
just how big this Chinese auto manufacturing industry is.
27:34
According to official vehicle data, there are currently 100
27:38
and 51150 active brands in the Chinese automobile market.
27:43
Among them, 97 are 97 Chinese domestic brands and 43 joint
27:49
ventures. So what is this telling us?
27:52
And what's the question? Why are there no Chinese autos
27:56
available in the United States? I know, right?
27:58
We know why they're not allowed in the United States.
28:02
People would say, well, it's unfair competition and the UAW.
28:06
I'd look, I'm an old union guy. This is not a political
28:09
statement or a union non union statement.
28:12
But I think the reality is why there's no Chinese cars in the
28:15
United States, because it would destroy the US auto industry
28:20
because their cars would be, let's say, a much greater value.
28:25
I think it's the same reason why we can say that there's no
28:30
Huawei phones or tablets in the United States because it would
28:34
have destroyed Apple. That's my personal thought.
28:37
That's my tinfoil hat conspiracy theory.
28:40
But what we do know is despite the fact that that the United
28:44
States is is not allowing Chinese cars to be sold here,
28:48
the Chinese auto industry is massive.
28:50
I was shocked. Were you shocked?
28:52
Did you know, leave a comment in the comment section, OK.
28:56
It's very, very interesting. And again, when you consider
28:59
that the new battery technology that we're learning about from
29:02
Samsung could contain almost, what, 30 ounces of silver per
29:07
car, it's absolutely nuts, Absolutely nuts.
29:11
And let's just get an update on India since we're out here again
29:15
from our friend at the Silver Academy, Mr. John Little India.
29:22
Silver imports in the first half of 2024 jumped to 4500 tons from
29:30
only 560 tons a year ago. One country on track to take 1/3
29:39
of the supply. All of this is happening among
29:43
as we have a vanishing silver supply.
29:46
Remember what our subscriber comments said the other day,
29:49
right? There's it's like a pond that's
29:51
got a little garden hose feeding new water into it while there's
29:55
a big siphon hose sucking out. That's the above ground silver
29:59
supplies. All right, let's look at the
30:03
deer port of India. There's some interesting great
30:06
pictures. They put together the port of
30:07
India with boats loaded with silver.
30:11
I think those boats would sink. One metric ton is 32,000 oz.
30:20
OK, so we know in 2024 so far, 4500 tons is equal to
30:27
146,000,000 oz. Again, that's just during the
30:33
first six months of 2024. I've heard estimates of between
30:38
200 million and 250 million by the end of the year.
30:42
That is unbelievable. I'm going to have a take a quick
30:45
break and have a sip of coffee. I'll be right back
30:59
and we need to turn the microphone back on.
31:01
How's everybody doing today? We have 500 basement dwellers.
31:04
How are you guys feeling? We got to do it.
31:07
I'm sorry, I can't. Can you believe how the silver
31:11
price is moving right now? I mean, is it?
31:14
We started out this this conversation with information
31:18
from the silver guru who's saying that $28.00 was basically
31:24
could basically be like a massive launchpad.
31:27
We talked about that yesterday. So let's go, let's go get an
31:30
update on the silver price from our friends at PMBEX.
31:34
Come on, silver. OK, still up 87 cents.
31:41
Wow, wow, wow. What a great day for silver.
31:45
What about Argentina? I can't pull up my slides.
31:48
How frustrating. Hold on here, guys.
31:51
Yeah, unbelievable. Well, anyway, I can I can
31:54
visually explain to you because we've we've talked about this
31:57
several times. The price of silver in Argentina
32:01
is gone up. Like I don't know what percent
32:03
it is 7014 thousand percent in the last like 10 years, in the
32:09
last five years because of currency collapse.
32:12
And now what is Argentina doing right now?
32:17
Let's let's look at let's look at a news article from the
32:19
Buenos Aires Times and what they're doing with gold.
32:23
Argentina ships gold bars abroad to be financially certified
32:29
Argentina's central bank sent part of its gold reserves abroad
32:34
in recent weeks to be validated for financial use.
32:39
Think about this, guys. What is this telling us?
32:43
We are in the battle of the ages, right?
32:46
The Wrestle Royal right now, a big battle between paper, Fiat
32:51
money, the US dollar and precious metals.
32:55
It's happening right before our very eyes.
32:58
I don't, and you're probably like me.
33:00
I understand, right? We don't even really realize and
33:04
we're like ahead of the curve. We don't really realize that
33:07
it's happening right now. It'll be one of those things, I
33:10
believe that 235 years from now, we'll look back and say, yes,
33:15
wow, we had no idea that this massive battle was going on
33:20
between the dollar and precious metals.
33:22
And articles like this just add fuel to this fire because
33:26
Argentina, right, wants to use its gold for financial purposes.
33:32
It says Argentina's bank sent part of its gold reserves abroad
33:37
in recent weeks to be validated for financial use, a move that
33:39
could give the country some much needed flexibility, according to
33:45
people with knowledge of the matter.
33:48
Right. They're not telling us that
33:50
Argentina is doing something with dollars.
33:53
No, Argentina, who suffered through some really serious
33:58
financial difficulties, is doing something with gold.
34:02
Once certified, the gold could eventually be used as
34:04
collateral. Oh, imagine that of the Bank for
34:09
International Settlements, who recently, because of the Basel 3
34:13
regulations, made gold a tier one asset.
34:16
You can use gold for collateral to obtain financing.
34:20
According to one of the people, who asked not to be identified
34:23
discussing private information before the move, about half of
34:27
Argentina's gold was in domestic vaults, with the other half in
34:31
London, another person said. Officials from the central bank,
34:35
known as the BCRA, declined comment the decline to comment
34:39
on the matter for any further. The Monetary Authority
34:45
separately confirmed on Monday and it sent gold between its
34:48
accounts, mentioning both ones in the country and others
34:51
abroad. However, the bank didn't say how
34:54
much of its US 5 billion in gold was shipped, for what reason or
34:58
to where. But what we do know, again,
35:02
straight from the horse's mouth, straight from the Buenos Aires
35:07
Times. We know, right, that they're
35:11
shipping their gold out and they're going to likely use it
35:14
for collateral. We know that right now there is
35:17
the world's biggest battle, the gold price and the silver price.
35:20
What do you think's going to happen, guys?
35:23
I mean, come on, What do you think's going to happen as we go
35:28
into the coming one to five years, right?
35:31
This is all unfolding right before our very eyes.
35:34
We just read about China. We know what China's doing with
35:37
the precious metals. We know what India's doing with
35:39
the precious metals. We know what the BRICS countries
35:44
as a conglomerate and there's officially nine of them right
35:47
now, Brazil, Russia, India, China, South Africa, right,
35:51
Iran, right, not Saudi Arabia, but maybe Egypt, Ethiopia, in
35:56
the United Arab Emirates. We're not sure about Saudi
35:59
Arabia. They're kind of on the bubble.
36:01
But we know that the BRICS countries massive big meeting on
36:06
October 22nd, 23rd. We know what China has said.
36:11
We really know what what the Russians would Vladimir Putin
36:16
has said about Fiat money, about paper money, about being sick
36:20
and tired of the financial games that are being played in the
36:25
world. So we know that is this battle
36:28
unfolds guys now, right? It was the dollar and the euro.
36:33
Now it's the dollar and gold. It's the dollar and precious
36:37
metals. We can't say that enough, right?
36:40
They're not going to be talking about it on on the mainstream
36:44
media right And maybe I'm wrong maybe in my theory that we are
36:48
in this battle is wrong, but I believe it to be absolutely a
36:53
certainty. OK, hey, I want to say thanks to
36:55
channel sponsor first mining gold, Canadian gold developer.
37:01
They've 2 exciting development stage projects in Canada.
37:04
You can learn more about them at firstmininggold.com and Fortuna
37:08
mining. Hold on a second I need to fix
37:10
something. It looks like fortune mining.
37:13
Let's maybe if I move this a little bit.
37:16
There we go. Sometimes the camera angle
37:20
changes everything. Fortuna Mining, they're an, a
37:24
mining company, right? They have operating mines in
37:28
Latin America and West Africa. They're digging up a lot of
37:32
silver and a lot of gold, especially a lot of gold in West
37:36
Africa. Very interesting story.
37:38
I think they have one of the best CE OS in the business.
37:41
Jorge Gonoza, it's almost been 20 years he founded the company
37:46
and a consistent, it's not often we get this anymore in this
37:50
world, right? But the guy is very consistent,
37:53
like he delivers. I mean, he built like a a new, a
37:57
new gold mine in Argentina during the C19 crisis.
38:00
He built a new gold mine in West Africa.
38:03
He like always delivers on what he says.
38:05
Sure. And it's a very difficult
38:07
business. So anyway, if you want to learn
38:09
more about Fortuna or First Mining, I'll have links to both
38:12
of those companies in the description of this video.
38:16
Thank you for being here. Thank you for the support.
38:19
Thanks for being a basement dweller.
38:21
Right, We got a lot. Let's go check.
38:23
Hey, wait, wait, wait, wait, wait, wait, wait.
38:24
Let's go check one more time. OK.
38:28
We're like, we're at the like at the blackjack table or
38:30
something. We kept, we kept pushing our
38:32
luck, but let's see where silver is, $0.85.
38:37
OK, so I dropped two cents, but still, guys, wow, what a great
38:42
day so far for silver. And I would imagine that through
38:47
the rest of the day, it's going to hold pretty steady.
38:49
It could change, you know how that goes.
38:51
But basically it's feel, doesn't it feel like to you that when
38:56
that, that when the silver price and the gold price are at a
38:59
certain point by about this time, about 11:00 Eastern Time,
39:03
they tend to stay in that range for the rest of the day.
39:06
So I'd imagine that we're going to have a good day in the silver
39:09
market. Tomorrow's going to be crazy,
39:13
crazy tomorrow. Right now we're going to be
39:15
talking here in the basement. We could have the silver price
39:19
down $1.50. We could have the silver price
39:22
up another dollar. I got a feeling tomorrow is
39:25
going to be a major big move for both gold and silver.
39:30
We'll be OK no matter what happens.
39:32
It's all short term noise, whatever they talk about, you
39:36
know, and in the big employment number, it's going to be a bunch
39:39
of BS anyway. But we know, right?
39:42
Whatever they do with these interest rates, whatever the Fed
39:46
says here, in a couple weeks, what, 10 days from now, roughly
39:50
12 days, we're going to get the Fed interest rate announcement.
39:55
They can't take away one thing. Oh, boy.
39:58
And we got to go on another quick field trip.
40:00
They can't take away this. Let's go take a look.
40:05
Hold on here. The US debt clock that we don't
40:11
want that understanding the US Department of Treasury.
40:15
No, thank you. Here's the US national debt
40:21
clock as we wait for it to pull up.
40:26
Dude, who do we can sing? OK, well, I tell you what.
40:34
I know a lot of people who've been having tech issues lately.
40:39
Are you guys still there? Hopefully you can still see me
40:42
and hear me. Hello.
40:43
Harry Carpenter. Does that mean you're a hairy
40:46
Carpenter or hairy Carpenter? I call.
40:51
Look at AG first. Majestic.
40:53
Yes. Good company.
40:54
Hold on here. Uh oh. the US debt clock is not
40:59
working. What?
41:01
Hold on, guys. Look at this.
41:03
They took down the US debt clock.
41:08
Hold on, let's refresh. Wow, let's go try again.
41:20
Maybe they don't want us to look at it.
41:23
U.S. debt clock. Yep it is not working.
41:32
Huh, that's interesting. I wanted to look at what the
41:35
dollar to silver ratio was as well.
41:38
It had been sky rocketing. Excuse me, but none the less.
41:44
Well that really bugs me. Hold on here, I'm going to look
41:46
on my phone and see if the US debt clock is indeed broken.
41:54
It broke the Internet. the US debt clock.
41:56
Here we go U.S. debt clock yeah my phone is working great my
42:02
Internet connection anywhere else I go Kitco silver price up
42:08
77 cents 29 O 2 is what it shows for the spot price.
42:15
However, the US debt clock is just not working well.
42:24
What they can't take away and what they can't change, OK, is
42:28
the underlying fundamental force that will drive the gold and
42:32
silver and price much higher, $35 trillion in debt.
42:39
And I want you to think about this.
42:40
A lot of that debt is being refinanced this year.
42:44
I've heard numbers like 10 trillion, 5 trillion, and it's
42:47
being refinanced at higher interest rates.
42:51
That will increase the interest expense, which will increase the
42:55
federal government's budget deficit, which means that also
43:00
then gets piled back onto the 35 trillion debt, right?
43:05
Which means there's more debt that needs to be refinanced at
43:08
even higher rates, which adds more interest expense on top of
43:11
the deficits we're running. It is a smoke and mirrors.
43:18
It is a a spiral of doom. Right?
43:22
That's why they say when a country gets beyond 120% debt to
43:26
GDP ratio, things become absolutely critical.
43:31
Wow, I can't believe. Hold on, I'm still here.
43:33
Hopefully you guys can see me try one more time to see why the
43:40
US debt clock is broken. Breaking news, at least from
43:47
here in St. Louis, MO, the US debt clock is
43:51
officially broken. We knew it would happen, we knew
43:54
it, we knew it. OK wow, unbelievable.
43:59
So they can't take that away, right?
44:00
Last we checked, the dollar to silver ratio was like it what,
44:04
440? There were $440 being created
44:09
for M2 increase in the M2 money supply, 440 dollars for each one
44:15
ounce of silver. Are you kidding me, guys?
44:18
We're in big trouble. We're spending more on interest
44:21
alone every year than we are on National Defense.
44:25
That's like the sign of doom. That's another one of these
44:29
ratios that once that goes past, nobody's ever come back.
44:34
So we're going to be paying close attention.
44:36
This is not a good situation in this country.
44:39
We're going to get jobs numbers tomorrow.
44:41
If they're even halfway honest, I think the markets could be
44:45
shocked. Let's go look at what the
44:46
expectation is. I'm just curious if the whole
44:49
internet's broken. I'm hoping we're still live and
44:52
you guys can see me. Let's go to the MarketWatch
44:58
economic calendar. Economic calendar.
45:03
And this is really interesting because after they put out the
45:08
data tomorrow, guess what, Coincidentally, tomorrow
45:13
morning, we've got two big Fed speakers coming up, right?
45:17
You know, they like to put their spin on things.
45:21
Here we go. Friday.
45:23
Yeah, 8:30 AM US unemployment report.
45:26
So that'll be 8:30 AM Eastern. Let's go up here and look and
45:30
see forecast. OK, so the forecast for tomorrow
45:35
is that we will get 161,000 jobs created in August.
45:41
OK, last month was 114,000. We'll also get the US
45:45
unemployment rate forecast for 4.2%.
45:48
But then as we can see, just after, isn't this interesting?
45:53
Hold on a second. Just after they put out the jobs
46:00
numbers at 8:30 AM, at 8:45 AM, they scheduled for New York Fed
46:05
President Williams. I wonder if they're expecting,
46:09
again, tinfoil hat, just speculating here.
46:13
If they're expecting a really bad number and they're like, we
46:16
better have a Fed speaker right after we put out this horrible
46:18
employment report. And then subsequent to that, at
46:22
11:00 AM, we got Governor Chris Waller.
46:25
Waller will be speaking. Oh, boy.
46:28
It's going to be an interesting day.
46:30
All right, guys, thanks for joining me.
46:32
OK, You are the most important part.
46:35
Oh, OK, wait a minute. Hold on here.
46:39
Patrick says I was able to load the world debt clock in.
46:42
The USA is listed, but it's minimal information.
46:45
Not the main page has all. Huh.
46:48
Interesting. Let's go out and try one more
46:50
time. Here.
46:52
Patrick. Patrick.
46:55
OK. All right, it's back.
46:59
We missed you. U.S. debt clock, it was broken
47:03
for a little bit, but they must, they must have had to add a few
47:07
digits to it. Guys, we're almost at 35 and we
47:11
just hit 35 trillion. We're at 35 and a third
47:14
trillion. Here's that other number.
47:17
We make sure we got you pulled up, which we do.
47:20
Here's that other number that we're paying close attention to,
47:24
right? Defense, we're spending $922
47:28
billion, right? Interest now on the national
47:33
debt is almost 1 trillion, or it's higher, 935 billion.
47:38
Let's go over in check. Oh God, it keeps going up.
47:44
The dollar to silver ratio. Do you remember it was like
47:48
what, five months ago? Everybody was freaked out
47:52
because that was 0, because the M2 money supply was shrink,
47:55
shrinking. Well, they're back at it again
47:58
and they're back at it in a major way.
48:01
This just keeps sky rocketing. It was just like 430 a few
48:05
months ago, a few weeks ago. Now we're at $473 in are being
48:10
added to the M2 money supply for each one ounce of silver that's
48:18
being pulled out of the ground. Let's go look at the paper.
48:21
Here we go. Wow.
48:22
It's going up to the paper to silver ratio is at 405 to one
48:27
again. OK, Remember, hold on here.
48:33
Hold on here. Sometimes you need to make the
48:34
screen smaller, OK? All right, so let's go get a
48:39
definition of the paper to silver ratio.
48:42
All right? Darn it.
48:47
Let's see if we can see it now. OK, paper to silver ratio.
48:52
If you look at the box at the up middle of the screen, the number
48:54
of paper right Unicorn fart dust, make believe whatever
49:00
silver Oz traded on the major world silver exchanges divided
49:06
by the actual world production of silver in Oz.
49:10
So that means on a on an annual basis right now for each one
49:16
ounce of silver that's being produced on a worldwide basis,
49:20
OK, there are 400 paper oz. Can you imagine?
49:28
Can you imagine what it's going to be like when when that paper
49:35
market gets called? OK.
49:37
It's going to be. Thank you Patrick Pearl for
49:40
pointing that out. OK, derivatives trade.
49:43
Yeah, it's a big joke. It's all paper.
49:45
It's all make believe, guys. It's all make believe.
49:47
The only real money in the world, this has been the case
49:52
for about 5000 years, is silver and gold, right?
49:56
Everything else is a temporary mirage.
50:00
Make believe, confidence based thing.
50:02
This stuff. OK.
50:05
Once they change this from this, don't forget, see that I go real
50:13
slow, Silver certificate, that's the old dollar, OK?
50:20
It says down there, $1.00 in silver payable to the bearer on
50:26
demand. Unbelievable.
50:28
Once they went from this silver certificate to this Federal
50:37
Reserve note, notice how they changed that?
50:41
OK, This was no longer backed by silver.
50:45
That's a big, big, big, big change.
50:49
A massive change. The only real money on this
50:52
planet, if you believe in history, is silver and gold.
50:58
Hold on here, OK? Period.
51:02
There's been lots of things like the dollar that have come and
51:05
gone. I hate to break it to you,
51:06
buttercup. I know it's hard for me to
51:08
believe that too, because since I've been a baby, right, I was
51:12
brainwashed to believe that paper U.S. dollars were
51:16
valuable. Are they still valuable?
51:18
Yes. Do I use them?
51:19
Yes. Yes.
51:20
But the reality is, on a long term basis, how valuable are
51:24
they, right? These things make sure I'm
51:26
holding up the right one. These things have lost, what,
51:30
99% of their value relative to gold since Nixon took us off the
51:35
gold standard? 98%, Whatever I can round up if
51:39
I want. It's my show.
51:40
It's my basement. It's our show.
51:43
It's our basement. Silver and gold.
51:47
Are it OK? Oh, now we have crypto.
51:50
I'm not going to argue. Whatever, right?
51:52
But everything, everything above silver and gold, I can't pull
51:57
up. This really bugs me.
52:02
Hold on here, See if I can pull this one up.
52:04
I can pull this one up for some reason.
52:06
Hold on here. There's the beautiful cup and
52:10
handle, cup and handle. There's the wedgie and silver.
52:14
We broke out of that. There's the gold, there's the
52:16
inverse head and shoulders. There's the Dixie.
52:18
There's Argentina. We talked about that earlier,
52:21
right? This is the country that's using
52:23
their gold for collateral. That's a chart of of, of silver
52:28
in Argentina, A10 year chart. And this was from like I did
52:34
this. That was 7000%.
52:37
This was back in November of 2023.
52:41
That was almost a year ago. And the price of silver at that
52:46
point was what, 10,000 pesos, right?
52:50
Hold on, let's go do let's go on a field trip.
52:52
Just to update this since we talked about it earlier, we're
52:58
going to look for silver price in our oops Argentine team
53:07
pesos. Here we go Oh now it's 27,000
53:17
What yes ARS Argentine pesos unbelievable.
53:22
Can you get you guys can see this?
53:23
Hold on. Yes.
53:25
OK, man, let me see if I can make.
53:32
Sometimes this doesn't work. One day Oz silver.
53:41
OK, here we go. Let's do 10 years.
53:49
This is real. OK.
53:52
When we did the other chart from before, that was the silver
53:56
price. I think it was what 7000?
53:58
Hold on here. We are moving all over the
54:02
place. Yeah, we were about at 10,000
54:06
and we'd had we'd had a 7000% increase.
54:09
If we look at the updated data for silver in Argentina, it's
54:15
now 27,000. I mean, this is what happens
54:20
when a currency breaks down. And what is Argentina going back
54:23
to? Gold, gold, gold.
54:26
We learned that earlier. I mean, unbelievable.
54:28
OK, now go back here, see if I can hold on, guys.
54:39
All right, we're back. OK, Hopefully we're still alive.
54:42
I think the world internet's having problems.
54:45
They even took down the world debt clock for a little bit.
54:47
Let's get back to this. Let's go over.
54:52
There we go. We need, we need to look at this
54:58
twice a week because guys, This is why you own gold and silver.
55:03
Gold and silver, right? This is extras pyramid, John,
55:07
extra work for the New York Federal Reserve.
55:11
He just died, what, 24 years ago?
55:13
25 years ago, whatever it was, this guy worked for the Federal
55:16
Reserve. He came up with this concept.
55:18
He argued gold and silver are the only forms of real money.
55:23
An upside down pyramid where everything rest on a base of
55:28
what's at the bottom. Interesting.
55:29
Silver and gold. See base money.
55:33
Everything above that is make believe, bank money make
55:37
believe, government bonds, debt, OK corporate and municipal
55:42
bonds, debt, make believe promises.
55:45
These are all promises, promises and debt, OK, Synthetic, non
55:51
monetary commodities, OK, derivatives.
55:55
And this chart actually added crypto.
55:57
I won't argue with that. I don't want to get in a crypto
55:59
argument, but none the less, gold and silver are the only
56:04
forms of real money. That is an absolute fact.
56:08
So as we're in this battle right now between gold and the dollar,
56:14
right? It's unfolded.
56:15
We know that's a fact at this point, right?
56:18
Gold is now the number one world reserve asset only behind the US
56:23
dollar in the US dollar. Think about how would you think
56:25
about this is funny. Think about this.
56:27
So you've got 2 fighters. Who do you want to put your
56:31
money on? Do you want to put your money on
56:34
the fighter who has a 5000 year history of winning?
56:39
Let's let's be blunt. Gold has won for 5000 years.
56:44
Gold is being recognized as a tier one asset by the Bank for
56:48
International Settlements. Gold, right?
56:52
Gold is valuable, period, no doubt about it.
56:55
That's the one fighter. Who's the other fighter?
56:58
the US dollar in this corner, the US dollar who's backed by
57:03
200 years, 100 years, whatever of history and backed up by $35
57:09
trillion in debt. Hey, my money's on gold and
57:12
silver. Thanks for bearing with me
57:13
today, basement dwellers, I really appreciate you.
57:16
OK. You're an important person to
57:20
the basement dweller community. I want you to come back, please.
57:24
I want you to feel like there's a group of people here where
57:26
you're accepted. You can come anytime, pop in,
57:30
pop out, but know that you're always welcome here.
57:33
Leave comments, make friends. So many of you guys have made
57:37
awesome friendships through this channel and that's probably one
57:40
of the most rewarding things that I've been able to
57:42
experience. I've made a lot of great
57:45
friends. There's so many awesome people,
57:47
OK, People like like Jake from Jake's Custom Parts, Annie
57:51
Oakley, Big Tim, the Silvershire Silver, Susie.
57:55
I mean, I could go through the whole list.
57:56
There's all you guys. Tim Zoo, good people.
57:59
They're here that you can make relationships with and learn
58:02
from. OK, Coin shop Chris, remember
58:06
him, don't forget he's got his own channel.
58:09
If you've not checked it out, If you want to learn more about
58:11
like your stories about the coin shop, hear about more coin
58:15
specific things, Coin shop Chris is a great guy to check out.
58:19
He's got a really fast growing YouTube channel, Coin shop
58:23
Chris. Put that in the YouTube search
58:25
bar. Go there and subscribe.
58:26
Tell him you're a basement dweller.
58:28
All right, he's a great guy. Thank you for being here.
58:31
Have a great day, OK and I will see you soon.