Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **Silver Price** Big KEY Information YOU Must hear - (Gold News Update too)

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**Silver Price** Big KEY Information YOU Must hear - (Gold News Update too) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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  $6300 gold price from a big bank, plus some incredible
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  stories related directly to silver that can help us remain
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  very optimistic about the future for the silver and the gold
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  price. Thank you for joining me down
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  here in the basement. So much going on.
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  I apologize for being a few minutes late.
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  These news stories keep piling up.
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  And let's start with this massive breaking story.
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  Taylor Kenny over at IT and Trading shares this with us
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  breaking the Chicago Mercantile Exchange Group.
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  Yes, the COMEX has eliminated paper silver contracts and is
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  moving to 100% physical settlement only.
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  OK. And then she puts a comment
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  below April Fool's Day. So, hey, we got to have a little
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  bit of fun here on April Fool's Day.
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  But apparently a lot of people fell for that one.
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  But on some serious, serious notes, what's going on right now
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  in the silver and gold sector? Really, it's truly exciting
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  what's happening. Like, we are living through
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  history, guys. It may not feel like it right
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  now. Usually you don't recognize that
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  we are going through history until after you've gone through
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  it. And one thing we can look at is
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  the history that we made yesterday.
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  Yes, it was the end of the quarter.
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  And the Happy Hawaiian pointed out something very, very
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  positive about the silver price. It may feel like it's hard to
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  believe, but he says after a hectic and crazy Q4, hold on one
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  second here getting the tech worked out here we go we're
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  silver rose 54% Remember right what was that October, November,
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  December of last year, silver up 54%.
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  It was, it was nice to have a calm 5% up in Q1, nice and easy,
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  basically no volatility at all. And he's being facetious when he
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  says, says that. Here's the here's the chart
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  right here. A couple things I want to point
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  out on this. Number one, believe it or not,
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  OK, this right here is the the first quarter which we just
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  wrapped up, we did indeed have a green candle.
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  Remember how Candlestick charts work that that bar right there
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  represents the three month period, January, February and
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  March. OK, when it's green, it means
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  that it was up for the month. But the bottom of the bar right
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  there represents where it opened on January 1st and the top of
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  the bar represents where it closed on March what, 31st,
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  yesterday. Those big lines that go all the
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  way up here and all the way down here, those are the highs and
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  lows that the price met during the quarter.
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  But as you can see right from open to close, we actually had a
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  quarterly rise. What's interesting, I counted
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  here what these are quarters, OK, one quarter, two, quarter
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  three, quarter 456789 out of the 10 last orders were positive for
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  silver. That goes back, what, 2 1/2
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  years? The other thing we want to look
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  at here, do you see what I see on this chart going all the way
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  back? Hold on to 2024 as we've got a
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  nice steady upward trend, OK? Yeah, sure, it shot up there
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  toward the end, but still just a solid 2 1/2 year upward trend in
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  the silver price. Now let's talk about let's talk
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  about India because we got some very interesting news out of
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  India when it comes to silver as well.
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  Let's go out and look at what the data is showing us from
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  India silver trade share this India has now imported 17.5
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  million ounces of silver a month over the past year.
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  That's the average when you look at this chart down here.
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  But guys, that equals 210 million oz and that is nearly
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  1/4 of a global silver production.
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  So I dug in a little bit. OK, so India alone, right, over
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  the last year has imported one in four of all the silver oz
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  that have been produced by the mining companies.
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  This is India alone. Remember, India produces almost
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  no silver on their own. I think they produce on an
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  annual basis about 25,000,000 oz.
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  India is huge. We are not paying.
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  I apologize to you. We've not been paying close
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  enough attention. There's so much going on, wars,
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  you know, China, Russia, everything else that's affecting
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  silver all but we are not paying paying enough attention to India
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  and what is happening there. They are importing 1/4 of the
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  world silver on an annual basis. The people in India love silver,
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  they love gold, but they also love silver.
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  The peasants, the working class people, that's how they save
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  their money is with silver. They just changed the laws in
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  India so that now the big investment funds are going to be
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  able to directly invest into silver and gold and their ETF's,
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  right? They changed the law there too.
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  You know what they said, right? They said LBMA, the London
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  Bullion Market Association, they'd use the LBMA spot price
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  to price their big ETFs. They, they just now are
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  changing. They're saying we're done with
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  the LBMA. What does that tell us, right?
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  We're not using the LBMA price to price our ETS.
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  We're going to use our own internal market price.
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  I think it's the MCX exchange, you know, like China has to
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  await and big news out of the Shanghai Gold Exchange, but
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  India has the MCX exchange. They said no more.
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  We're done with you, London, bye bye, right.
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  And what I mean, think about this on top of that, on top of
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  that, the, the banking system in India recently changed the rules
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  as well, where you can now use physical silver directly as
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  collateral in India to get loans from the bank.
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  You don't have to sell it to get no, you can use it as that's
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  monetization of silver. I don't you know, and we and
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  look and I won't go too far down this path, but silver is the
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  world's original monetary medal. OK, It doesn't have to become
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  that. It already is that.
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  And we know what's happening with gold.
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  Gold has been gold's also one of the world's original monetary
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  medals and it's being re recognized.
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  It's always has been. It's not a new thing.
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  It's getting re recognized. It's regaining, right.
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  It's and everybody saying that Jeffrey Gunlock, the founder of
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  Double Line Capital, I was saying the other night, anyway,
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  back to India using silver as collateral.
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  That is monetization. But wait, there's more, right?
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  Because there's 1.4 billion people in India, right?
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  That's like what, 4, three times the number of people in the
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  United States of America. But their economy is growing
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  faster than almost any other economy in the world.
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  They have hundreds of millions of people that are going to be
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  moving into the consumer class. And I'm going to tell you right
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  now, right? Indian people, I know a lot of
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  Indian people. There's a lot of Indian people
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  in Saint Louis. They're wonderful neighbors.
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  I know, you know, I talk to him all the time, probably every day
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  I talk to him and I always, they get tired of me asking.
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  But I asked him about gold and silver and what it's like in
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  India. And they're like, oh, and they
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  all own gold and silver. They're like, they're probably
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  the, the 2%, a big part of the 2% or 1 1/2 percent of Americans
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  that own gold and silver. And I apologize, we have not
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  made the sheep noise for a couple weeks, right?
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  Because that other 98% of Americans that don't own gold
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  and silver, they're called the sheeple.
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  We say that in a very affectionate way, right?
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  It's a big herd. And when that herd of people,
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  the sheeple come running into gold and silver, it's going to
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  be crazy. But we aren't giving.
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  Oh, that's screwed up. That screwed up my voice.
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  I apologize. We are not giving the Indian
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  people. I got more notes.
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  There's so much. I mean, think about it.
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  India's importing one in 4 ounces of silver that's mined
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  every single year. Before I forget, I need to say
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  hello to one of our fellow basement dwellers, Randall and
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  Stasha. OK?
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  They live here in Missouri and I couldn't see it yesterday.
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  So hey, you know, we're all a big part of the basement dweller
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  community. Randall and Stasha, we love you.
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  Thank you for being here. And he says Stasha is my
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  sunshine, just like you're upstairs, Susie, isn't that
• 8:53
  touching? We love each other here in the
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  basement. Okay, I could go on about India,
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  but I need to move. We got a lot more to cover a lot
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  more $6300 gold from a major bank.
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  But before we talk about that major bank, let's talk about
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  Wells Fargo. Gold is the granddaddy of metals
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  right now. OK, I, I lump gold and silver in
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  my mind together, right? But gold is, is gets a little
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  more attention right now. That's OK because silver can do
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  a slingshot move, but gold, let's let's just talk about it
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  Goldman Sachs and what they said cuz we got new news coming out
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  from two big banks about where they see the gold price.
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  We will go here first. Hopefully this works.
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  All right, there we are. Believe I have it up on the
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  screen for you gold. OK, we, we focus on the 1st 4
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  letters of the company name. Goldman Sachs sees gold hitting
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  5400 by year end. OK, a brief synopsis, one
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  paragraph. Goldman Sachs is maintaining its
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  forecast for gold to reach 5400 per oz by the end of 2026,
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  driven by expected Federal Reserve rate cuts.
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  More on that later. A normal is that we're going to
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  go to the CME Fedwatch tool, a normalization in speculative
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  positioning, meaning that you know, there's a lot of there was
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  that big 1st in January, February, that's being
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  normalized and building a base and continued central bank
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  buying. Now what about Wells Fargo, What
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  do you think they're saying raise the number that you're
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  thinking in your mind where they think gold can be.
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  Before we do that, I want to run out to the three channel sponsor
• 10:39
  websites. We are going to start with
• 10:41
  channel sponsor First Mining Gold, Canadian gold development
• 10:45
  stage company with two huge multi million ounce projects in
• 10:49
  Canada Spring, Poland, Ontario and Dupart K located in Quebec.
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  You can see there their their corporate logo behind my left
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  shoulder. Next we will go to Brixton
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  Metals. They are a Canadian metals
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  exploration company. They have 4 big projects all in
• 11:06
  Canada and North and United States.
• 11:09
  Big copper projects, big silver, gold and nickel and cobalt as
• 11:15
  well. And of course, right when you
• 11:18
  want to get your hands on some of the best silver bullion out
• 11:22
  there, please check out First Mint.
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  There is a discount code circled in green at the top of your
• 11:27
  screen. They've got a great selection of
• 11:30
  silver products, world class products that they that they
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  produce here in the United States and Las Vegas, NV.
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  Great price, great selection. And wow, looks like they've are
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  reporting the silver price up there.
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  Is their Las Vegas round again just one of their products and
• 11:47
  they are having a $2.00 silver cast bar special, so go check
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  them out. Now let's head over to hold on
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  here, Wells Fargo. Hold on, let's go up.
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  All right, here we are. Wells Fargo shocking sees gold
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  hitting 6300 dollars. Despite recent volatility, Wells
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  Wells Fargo Investment Institute has raised its end of 2026 gold
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  price target to 6100 to 6300 per oz.
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  Can I hear 6500? Somebody give me 6500, OK.
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  And their reasoning, Wells Fargo Investment raised their price to
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  6300, a sharp increase from its previous forecast of 4500 to
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  4700. This represents one of the most
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  bullish year end targets among major banks and implies a 37% to
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  42% upside from current levels. OK, Everywhere we look, we're
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  getting higher and higher gold price estimates, which also will
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  coincide with higher estimates for silver as well.
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  Remember, silver is due for it. What I like to refer to, and I
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  hear others refer to a slingshot move, right?
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  Meaning that as gold goes up, it like pulls silver with it.
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  But it's like a rubber band here.
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  You know what? We haven't looked at this for a
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  long, long time. This OK, This is the gold price.
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  This Taka truck right here. This.
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  That's a stomper. You may remember those from your
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  childhood. Is the silver, silver and gold
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  as the gold. Hold on.
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  As the gold price goes up, and this is an elastic band is the
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  gold price goes up, it pulls silver with it.
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  But at some point, all that energy can let go and the silver
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  price can take off like crazy. This used to work.
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  Hold on. One second here.
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  Yeah, I don't think it's working.
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  Oh, no, it's working. All the headlights came on.
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  She's got some headlights. Hold on.
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  Well, I'll work on that later. Silver.
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  Oh, Silver truck needs a little help.
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  OK, let's go to China. Wow, wow, wow, wow.
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  Two big stories out of China, Both from our from our friend.
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  I call him Friend. I've never met him.
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  I don't know him personally, but I kind of consider him a friend.
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  The Shanghai Ghost. This is crazy.
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  Read this China Construction Bank.
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  OK, that's one of the big banks in China.
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  It now implements a lottery system for physical gold
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  delivery. If there's inventory, please
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  participate in the lottery. The selected ones can be
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  arranged for withdrawal. That's the ICBC.
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  That's the Construction Bank of China executed a mortgage loan
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  for accumulated gold. Supply is heading towards
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  depletion. OK, and think about it.
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  What did we talk about yesterday?
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  China has no gold. People in China are having a
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  hard time apparently getting their hands on gold at a
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  reasonable price. What do we hear out of Russia?
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  Russia is is said we are not allowing imports.
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  I'm sorry, exports of gold over 100 grams.
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  And what about our favorite country, Uzbekistan, who's like
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  the 10th largest producer of gold in the world?
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  They did not allow export in February or March.
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  Now it's April Fool's Day, right?
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  It's April first. We'll see what happens there.
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  But the world is hoarding their metals, guys.
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  Are you hoarding metals? I have a feeling you are.
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  But wait, there's more because we're going to go out and look
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  at the Shanghai Gold Exchange, in the Shanghai Futures
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  Exchange. And there was a big change in
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  inventory again from the from the Oriental Ghost and he talks
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  about the Shanghai Futures Exchange.
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  But as you can see, since we're here, right, this is the
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  Shanghai Gold Exchange, this is the silver price, this is their
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  physical market, 858448 per oz. The Shanghai Futures Exchange,
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  that's their paper make believe silver market 80, almost $86 per
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  oz. We're going to round up today,
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  but what we really want to look at is down here, Shanghai
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  Futures Exchange, Silver bolts, OK, and right here change down
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  440-5000 kilograms. That is almost one and a half
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  million oz. That is more than a 10% decrease
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  in this number right here, which is the total amount of silver
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  backing up the Shanghai Futures Exchange, which at this point,
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  right yesterday that was 12 million oz.
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  That's probably like 10.410 point, 5 million oz.
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  All of these exchanges and we're getting, there's all kinds of
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  data out there. You know, we like to have fun.
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  We like to look at the big picture.
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  People are putting out all kinds of data about the registered
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  inventory also at the COMEX, which continues to be depleted.
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  I think I saw 7678 million recently.
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  So think about this in China, right?
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  The Shanghai Gold Exchange will give them credit.
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  It's actually backed by real metal.
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  The Shanghai Futures Exchange only has 1011 million ounces of
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  silver, backing the entire futures market for silver in
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  China. The COMEX, right?
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  The register, that's all we care about.
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  The registered. There's two types of inventory
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  at the COMEX. Of course, they need to make it
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  complicated. There's eligible and registered.
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  Eligible is already claimed. It belongs to the silver ETF.
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  It belongs maybe to you. You keep, I doubt you keep
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  silver at the COMEX vaults, but maybe you do anyway.
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  It's silver that's claimed. The registered is what's
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  important. That's what backs up all the
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  paper, which is leverage to the hilt, right?
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  Like for every every contract or every ounce of silver, there's X
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  number of contracts. But it's also the LBMA which has
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  seen stress in their inventories.
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  What does that tell us when we think about what's going on with
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  gold and all what all the countries are doing?
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  We talked about with silver, silver being put on the United
• 18:19
  States critical mineral list, right?
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  And some of these silver mining companies apparently, right.
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  I'm hearing more than speculation are talking to the
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  government. I mean, it's very interesting
• 18:31
  what's developing in the world right now on a big picture for
• 18:35
  silver and gold. Don't forget, if you want a fun
• 18:39
  crafty way to save you, we got a lot more to talk about, but a
• 18:42
  fun way to keep your silver and gold or whatever you find
• 18:46
  valuable safe, check out dirty Man safe and there's a discount
• 18:50
  code Ron 10. You bury these in the ground.
• 18:54
  I'm going to put mine back in the ground.
• 18:55
  No, mine is not full of silver for for demonstration purposes.
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  There's a one of my daughter's little plastic unicorns living
• 19:04
  in there. But these allow you to store
• 19:07
  things in the ground like the pirates did for thousands of
• 19:10
  years, safe from fire, flood, all forms of natural disasters.
• 19:14
  Don't tell everybody where you put it, but maybe tell one or
• 19:17
  two people and don't tell me, OK, I don't want to know that.
• 19:20
  Your business. Wow, man.
• 19:22
  We got a lot more to talk about. Guys, There's a lot going on.
• 19:27
  I was. I really dug in deep last night
• 19:30
  and and listen, we're going to talk about this tomorrow, but
• 19:35
  what's going on right now with the Fed, with the fiscal
• 19:38
  situation of this country? Jeffrey Gunlock, the founder of
• 19:42
  Double Line Capital, I'm telling you, I won't bore you with all
• 19:45
  the details, but it really is just a simple situation.
• 19:49
  When we look out five years from now, I'm telling you, we are we
• 19:53
  are very likely. I don't want to be doom and
• 19:55
  gloom, always make up your own mind.
• 19:58
  But we're going to be living most likely in a very different
• 20:01
  world, especially economically here in the United States with
• 20:05
  what's what it looks to be inevitable is going to happen to
• 20:09
  our dollar. And now we've got a Fed
• 20:11
  governor. Everybody's talking about the
• 20:13
  Fed raising rates, but we have a Fed governor who's coming out is
• 20:17
  kind of a lone wolf and talking about interest rates actually
• 20:21
  going down. This comes from CNBC.
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  Right, that that stalwart of financial media, Fed Governor
• 20:31
  Miran, still backs cuts, says interest rates could be about a
• 20:36
  point lower this year. Now I've got a bombshell good
• 20:40
  thing about interest rates and the Fed that we're going to look
• 20:44
  at after we cover this. But he says Fed Reserve Governor
• 20:47
  Stephen Ron continued his campaign for lower interest
• 20:50
  rates, telling CNBC that policy makers should disregard the
• 20:55
  current energy price spike. He told CNBC that he continues
• 20:59
  to think, quote, we could be about a point easier.
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  That's one whole point lower gradually done over the course
• 21:07
  of a year. If that were to happen, that
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  would be, that would be great for gold and silver.
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  But there's a there's a there's oh man, there's 2 secret
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  bonuses. Hold on.
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  I got to write this down. OK, hold on a minute.
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  Relative and expectations. I'll explain both of those and
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  why both of those those key things, relative and
• 21:31
  expectations when it comes to rates could become massive,
• 21:36
  massive upward forces for gold and silver.
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  Let's go out to 1st. We'll talk about expectations.
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  This is you want to be fancy when you're at the Country Club
• 21:46
  later or if you're like me, you're at the, I don't know, the
• 21:50
  711 talk about the CME Fedwatch. OK, this tells us where the big
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  money, the big investment firms are, are betting where interest
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  rates are going to be the next Fed meetings in 28 days, as you
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  can see on your screen there and at that meeting right now.
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  OK, let me circle a couple things #1 this is for the April
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  meeting. OK, I've got that.
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  Ah, shoot, hold on a minute. Why can't I get this on full
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  screen for you? There we go, hold on, there we
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  go. OK, now it'll work.
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  This is for the April Fed meeting.
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  OK, this is the current rate, 3.5 to 3.75.
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  They are saying that there is a 98%.
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  This is the big money, right? They are rarely wrong, but when
• 22:44
  they are, it's a big deal. They're saying there's a 98%
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  chance that rates will remain the same, meaning that in 28
• 22:50
  days when the Fed makes their announcement, they'll say rates
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  are the same, blah, blah, blah. This is about expectations.
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  Now, what's interesting is if we click on this button right here,
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  that brings us out to December. OK, there it is right there.
• 23:06
  OK, in December, and again, here's the current rate 3.5.
• 23:10
  They are saying that there is a 70% chance that rates will still
• 23:15
  be the same in December and they're only giving like a 27%
• 23:22
  chance that rates could be even lower.
• 23:26
  Now, this has changed from a little while ago they were
• 23:28
  talking about rates being higher.
• 23:30
  This is good news. This is expectations because if
• 23:35
  rates are indeed lowered right, anything more than that that
• 23:39
  will provide massive, massive, massive support for further big
• 23:44
  increases in the silver and the gold price.
• 23:48
  But what's even more important, OK, for us to understand right
• 23:52
  really those it's all smoke and mirrors all of that that we're
• 23:56
  talking about it's all make believe fake money based on Fiat
• 23:59
  money. What really matters is the
• 24:02
  relationship, OK, the relationship between the
• 24:06
  inflation rate, I will do over here, the inflation rate and the
• 24:10
  interest rates, OK, this is the Fed interest rates.
• 24:13
  This is inflation right now, supposedly they're about equal.
• 24:17
  OK, So if, if, if the, if the interest rates get lowered right
• 24:22
  a little bit, obviously that's good for gold and silver.
• 24:28
  But what really matters is that inflation, right, is higher than
• 24:34
  the interest rates. So if inflation goes way up
• 24:37
  here, and even if they do raise interest rates, that gap is
• 24:41
  what's important. Remember inflation, interest
• 24:44
  rates, if they lower interest rates, that's good because
• 24:47
  there's this gap here between inflation and interest rates.
• 24:51
  But even if they raise interest rates, if inflation goes even
• 24:55
  higher, which it will, it's also good for the, the precious
• 24:59
  metal. So you can't just blindly look
• 25:01
  at these interest rates and say, well, if rates go down, rates go
• 25:04
  up. You got to look at the
• 25:06
  relationship to inflation, right, As it relates to the
• 25:10
  interest rates. I hope that makes sense.
• 25:12
  I go over that about once a week because that is a critical thing
• 25:16
  for all precious metals investors to understand.
• 25:18
  That's called real interest rates, right?
• 25:21
  You take the interest rate, but then you subtract from what the
• 25:26
  current interest rate is the inflation rate.
• 25:29
  And if that's a negative number, right?
• 25:31
  If interest rates are at 3% and inflation's at 5%, right?
• 25:36
  Then you subtract 5 from three and you get -2 that's negative
• 25:40
  real interest rates. That at the end of the day,
• 25:43
  right? No matter how you slice it or
• 25:45
  dice it, if you're going to play their smoke and mirrors game,
• 25:47
  that really is all that matters, OK?
• 25:50
  And it all and and there's no better proof about what's
• 25:56
  happening right now then when we look at this.
• 26:00
  OK, hold on a minute, hold on a minute, here we go.
• 26:05
  The World Uncertainty Index shared with us by no limit is
• 26:10
  actually higher than C-19 right now and even higher than 911,
• 26:15
  higher even than the than the wow.
• 26:19
  All three of those OK, higher than C-19, higher than 911 and
• 26:25
  even higher than the 2008 financial crisis.
• 26:28
  This is the World Uncertainty Index and this I believe comes
• 26:33
  from the Federal Reserve. They measure the level of
• 26:36
  uncertainty that they are reading throughout the world
• 26:39
  basically from public companies like press releases, how many
• 26:45
  how often they're talking about there being massive uncertainty
• 26:49
  throughout the world and that again is being manifested in
• 26:53
  this from bar chart. U.S. dollar share of global
• 26:56
  foreign currency reserves has fallen to its lowest level this
• 27:01
  entire century. Look at this institutions are,
• 27:05
  are are reducing dollar exposure, right, this entire
• 27:10
  century starting in the year 2000, look at look at this, I
• 27:14
  mean it has gone absolutely down the tubes.
• 27:17
  It looks like it reached a high of about 65%, and right now
• 27:22
  we're down to 40%. Not quite a 50% decrease, but
• 27:28
  not good times. And it gets even more
• 27:30
  interesting. We're going to watch a short
• 27:32
  clip from Jerome Powell himself. Jerome Powell was at Harvard
• 27:37
  University, I don't know, a few days ago, maybe it was late last
• 27:41
  week, all right, speaking and even he is recognizing and
• 27:46
  expressing some frustration about the situation that our
• 27:50
  country is in right now. And that's going to have a major
• 27:53
  impact on the US dollar and that will have a major impact on the
• 27:56
  price of gold and silver as we move forward.
• 27:59
  Let's listen to what Jerome says about the United States national
• 28:03
  debt. I'm going to put them up on full
• 28:05
  screen for you here. Last question.
• 28:16
  Hi, Mr. Powell, I'm Lola. And I was wondering at what
• 28:19
  point does the size of EU S S debt break the point of natural
• 28:24
  systems repayment? And if that's something you're
• 28:26
  worried about now or something you think our generation should
• 28:29
  look out for? I don't think we know what that
• 28:35
  number is, a sort of ratio of debt to GDP where it'll be a
• 28:38
  problem there, of course, Japan being a great example of their
• 28:41
  countries that have much higher levels of sovereign debt to
• 28:45
  their GDP than we do. What's clear is that our debt is
• 28:50
  growing much faster. The federal government debt is
• 28:52
  growing substantially faster than our economy, and that ratio
• 28:56
  is going up. And, you know, in the long run,
• 28:58
  that's kind of the definition of unsustainable.
• 29:01
  The level of the debt is not unsustainable, but the path is
• 29:05
  not sustainable. And so it's, it's really
• 29:08
  important that we get back to, we don't have to pay the debt
• 29:11
  down. We just need to to, to have, you
• 29:14
  know, primary balance and, and begin to have the economy
• 29:17
  actually growing better, growing more quickly than the economy.
• 29:21
  It will, it will not end well if we don't do something fairly
• 29:26
  soon. This is not the Fed's job, of
• 29:28
  course, and I pretty much limit myself to those high level
• 29:32
  points which which essentially everyone ignores.
• 29:37
  That's the part. OK.
• 29:41
  Did you hear what he said? Right.
• 29:44
  The current path that we are on is not sustainable.
• 29:47
  Thank you, Jerome. You know what?
• 29:49
  Let's get Jerome out here. He is our old friend Jerome
• 29:53
  Powell. All right, hold on here.
• 29:56
  Uh oh. My box broke.
• 29:58
  Bear with me. There we go.
• 30:00
  OK. Our old friend Jerome Powell, I
• 30:04
  will leave him out like that. He says it's not sustainable.
• 30:07
  Yes, right. We could look at the US debt,
• 30:09
  clock it, you know, debt spiral, all that great stuff.
• 30:13
  He says if we don't. But then he says we don't have
• 30:16
  to. I don't agree with him on this.
• 30:17
  We don't have to pay the debt. Debt down.
• 30:20
  Yes, we do, Jerome, Right. We're almost at $40 trillion.
• 30:23
  But we'll set that our disagreements aside for a
• 30:28
  second, OK? But what he says himself, he
• 30:32
  says it will not end well if we don't do something soon.
• 30:38
  This is the head of the United States Federal Reserve.
• 30:43
  It will not end well if we don't do something soon.
• 30:47
  And then did you catch it? Did you pick up on this?
• 30:51
  He basically expresses frustration like, but nobody
• 30:54
  seems to care, right. So guys, I don't want to be doom
• 30:58
  and gloom, but you're probably you don't have to have an MIT
• 31:02
  math degree or be Albert Eisenhower to realize that even
• 31:06
  the head of the Federal Reserve is saying that we can work a
• 31:09
  calculator and do basic math. It does not end well.
• 31:14
  I love my country. If you're an American, you guys
• 31:16
  are joined from all the world you, but you know I don't.
• 31:20
  We don't agree with what's gone on over the last 50 years.
• 31:23
  It has truly been atrocious and it truly makes us happy that we
• 31:28
  know gold and silver have seen this monkey show before, right?
• 31:35
  The the British did it when they ruled the world, the Spanish did
• 31:38
  it when they ruled the world, the Romans did it when they
• 31:40
  ruled the world, the Dutch did it.
• 31:42
  The list goes on and on. There's piles and piles of Fiat
• 31:46
  currencies that have wound up becoming worthless again, I'm
• 31:50
  not rooting for it. It's probably not going to be a
• 31:53
  fun situation, but we know we know the solution and the
• 31:58
  solution, right? That's I think at least just my
• 32:01
  opinion. Don't make any financial
• 32:02
  decisions based on what I'm saying.
• 32:04
  But to me the solution seems pretty obvious when you've got a
• 32:08
  track record of 4005 thousand years like gold and silver do,
• 32:14
  of being in these very similar situations that they've
• 32:17
  survived. Hey, if you've enjoyed your time
• 32:20
  here in the basement, we've enjoyed having you.
• 32:22
  On behalf of upstairs, Susie, my lovely wife and assistant,
• 32:27
  thanks for being part of this incredible community.
• 32:30
  Please subscribe to the channel, it's free.
• 32:33
  Leave a comment in the comment section.
• 32:36
  OK? We love to hear from you and we
• 32:38
  will see you. Yes, we will see you next time.
• 32:43
  Have a great day. Thank you.