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🚨 NO WAY? 🚨 Silver & Gold INVESTORS to be SURPRISED 😲 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Do you believe we can hit $270 per oz silver?
0:06
Yes, you heard me correctly. You.
0:09
I'm asking you that question. Do you believe I firmly believe
0:14
my thumbnail says 270 dollars silver.
0:18
I firmly believe that during my lifetime, and I don't know how
0:21
old you are, but I'm 54 years old.
0:24
I will see at least $270 silver and we're going to dig into why
0:29
in this video. Gold, who knows?
0:32
10,015 thousand. I've heard estimates as high as
0:36
$27,000 for gold, but let's take a look at what's going on right
0:41
now. Let's take a look at what
0:42
happened during the last week because it was pretty good for
0:45
silver and gold. What do you say?
0:48
We'll take a look at silver. First, let's look at the chart
0:52
for silver for the last five days and just take a little
0:56
inventory of how wow. Guys, look at that back on the
1:02
2nd of July, we were at about $29.50 per oz.
1:07
Look at the look at the movement over the week.
1:09
Very steady, very consistent, closing out at 3152.
1:15
Let's just take a quick look at the five year chart.
1:17
Wow. I mean, it seemed like it was
1:19
very difficult to get above that 2829 range.
1:23
And now we're up. Like we've talked yesterday,
1:26
it's a very exciting times right now for silver because we are in
1:31
the battle zone, the battle. Are you ready for the big silver
1:35
battle, basement dwellers? We love gold too.
1:40
We're going to go look at the gold chart in a second.
1:41
But guys, it is so critical now over the next few weeks, if we
1:47
can get above that $32 per oz, $33 per oz range and stay up
1:54
there, I'm telling you, we could be off to the races.
1:57
I don't know, maybe it's a 5050 shot, right?
1:59
We've come a long boys and girls basement dweller, Silver
2:04
Stacker. Yes, I'm talking to you.
2:05
We've come a long, long way since just what, February of
2:09
this year? March, remember, I hate to
2:12
remind you this, don't get mad at me, but we had silver around
2:16
$22.00 per oz. I hope you bought some when it
2:19
was that low, right? Who knows, we may never ever see
2:24
those prices again. You never know guys.
2:27
It's not out of the realm of possibilities.
2:29
We may never go below $30.00 an ounce.
2:32
Again, I'm not putting money on that one.
2:34
But the big key thing that we need to do is get above that $32
2:38
per oz range breakthrough that. And as we've talked about ad
2:42
nauseam here on the channel, there just isn't a lot of
2:45
fighting resistance between $34 and $44.
2:49
Now let's go take a look at the gold chart because I believe it
2:53
to be just as rewarding to look at the last five days.
2:59
There's Goldie and thank you to Yahoo Finance for providing
3:06
these wonderful charts. I've always liked Yahoo Finance
3:09
and there's gold, $2399. This is the futures price.
3:15
Let's just look at a five day. Look what gold did in five days
3:18
again, right? We were at 2340.
3:24
We close out the week pretty much at $2400.
3:28
I would actually touch 2400 on the futures.
3:31
So a very solid, a very solid performance.
3:35
There's the cup, this is a long term chart of gold.
3:38
There's the cup, there's the handle.
3:41
Are we breaking out? Are we going to, are we going to
3:43
get to $3000 gold like a lot of analysts are saying?
3:46
But you're here. You're here because you want to
3:50
talk about silver and gold. Let's talk about another analyst
3:54
put out a little report saying $250 silver.
3:57
I thought I'm going to one up and because I think it can go
3:59
much, much higher. Let's go out and see what our
4:02
friends over at the Silver Academy put out.
4:06
That got me so interested was a report that came out a few days
4:12
back. It says we're close to making
4:14
the call, making the call, silver industrial use to devour
4:19
inventories by 2025. But what is the call that
4:24
they're referring to says here? And again, nobody talks about
4:29
military use, aerospace use of silver, solar and AI just broke
4:34
the silver bank, OK, Global demand for silver is surging,
4:39
driven by a frenzy of industrial and monetary demand.
4:42
Military use, right? Aerospace use, solar use, AI
4:47
data center use, China's massive solar projects.
4:50
I've got new breaking news on that as well.
4:54
Unbelievable. What's going on?
4:56
We'll get to that after we get through this article.
4:58
What's going on in China with solar breaking news.
5:01
But what does this John Little, right?
5:03
Oh, let me let me remind you guys, this is the Silver Academy
5:06
Sub stack. I would highly recommend that
5:09
you subscribe to it. Just go into your Google search
5:12
bar and put in Silver Academy Sub Stack.
5:15
Or you can always go to the description of all, all of my
5:18
videos. I have no financial interest.
5:21
I'm not getting a Commission or anything like that.
5:23
I just think John is constantly working to get great information
5:27
out there on the silver industry.
5:30
China's massive solar projects. Remember these new solar plants
5:34
are using in many cases bi facial, which are two sided
5:38
solar panels, which double S the use of silver.
5:41
The increased demand in red OK comes amid this is this is we
5:45
haven't talked about this in a little bit.
5:47
This is important silver investors.
5:49
The increased demand comes amid a three-year consecutive silver
5:54
deficit and declining productions in key regions like
5:58
Mexico, which has banned open pit silver mining, and Peru,
6:03
where output is down. Look at this, guys.
6:06
This is Peru's silver production from what, 2018?
6:12
Look how much it has gone down. That's the supply of silver
6:17
going down. Peru is a massive producer of
6:21
silver, right? The Spanish were there.
6:23
I mean, you should read about the history of silver mining in
6:26
Peru. It is fascinating and sometimes
6:30
kind of sad what they did to some of the people in that
6:32
country, but nonetheless, Peru has historically been a massive
6:37
producer of silver and their production is going down, down,
6:41
down, down. OK Mexico.
6:45
Mexico silver production down 25% in short time.
6:50
Hello. What does this mean to you when
6:52
you hear Mexico's silver production down 25%?
6:56
I need to tell you something. Mexico is the biggest silver
7:00
producer in the world. Why is there production going
7:04
down? It's very difficult to run to
7:06
mine in Mexico, right? I mean, over the last five
7:10
years, you've got permitting problems we've got with dealing
7:13
with the government, you've got social issues with the people.
7:17
It's become extremely more challenging to mine for silver
7:22
in Mexico, down 25%. But the big key take away for us
7:26
here guys is again, just like Peru, this is the supply of
7:31
silver going on to the market. I ask you a question.
7:34
I need to look you in the eyes here, basement dwellers.
7:37
Does it make sense to you? Right.
7:40
The biggest silver producers in the world, down demand up.
7:45
Hello, right. We don't need to be Harvard
7:48
educated economists or have MBAs from the Wharton School of
7:52
Business to realize that when the supply of anything is going
7:55
down and the demand is going up, eventually market forces
8:00
prevail. And that's in the form of much,
8:02
much higher, higher silver prices.
8:06
OK, let's get back to the article, 'cause we got, we have
8:09
a prediction buried in here that we're going to get too quickly,
8:13
OK, here, Mexico's ban on silver mining, unless you can read
8:17
Spanish, but basically they've they've made it.
8:21
I'm not a an attorney or a legal expert.
8:24
From what I've understand, and correct me if I'm wrong, please,
8:29
'cause I am often wrong. Mexico has basically, I think
8:33
outlawed open pit mining, future permits for open pit mining
8:38
within the country right now because they've got this
8:41
government in charge that blah blah blah.
8:43
OK, well we'll just read this since it's highlighted in red.
8:47
Additionally, silver is crucial for various high tech
8:49
applications, including AI, data centers and electric vehicle
8:53
batteries, where its unique properties, ductility,
8:55
malleability, and reflectivity are irreplaceable.
9:00
The burgeoning space race also heavily relies on we don't ever
9:05
talk about these things. Everything relies on silver.
9:07
With these factors combined, the potential scarcity for silver is
9:11
a pressing issue, potentially facing extinction as early as
9:18
2025. That's an aggressive, definitely
9:21
an aggressive number, but you're hearing all different.
9:25
I mean, when you look at these supply demand dynamics, it feels
9:30
like nothing is out of the picture.
9:32
OK, here we go. Oh, look at this.
9:35
This was an interesting little piece of analysis after breaking
9:39
the box. OK, which is this right here?
9:42
Here's a chart of silver. Here's a, here's a broken,
9:45
here's the box. Back in the 70s, silver rallied
9:49
8X in 24 months. That would be this massive rally
9:55
that we had in the mid to late 1970s.
9:58
OK, Similarly, we have almost the exact same box right here.
10:02
So, So what the Silver Academy is proposing is are we in for
10:07
another 8X run in the silver price, which would get us to
10:11
$250 silver by 2026? Possibly.
10:16
Very possible, very possible. Super long here, guys.
10:21
You know, I don't know if it's going to happen by 2026.
10:25
OK, that's it. And I think even even the
10:27
authors of this would say that's an aggressive prediction, but
10:32
it's going to happen. All of these things moving in
10:36
unison are creating a situation which I just can't see the value
10:43
of this stuff here. I mean, let me pick up a piece.
10:45
Here's three. I mean, it's so beautiful,
10:48
right? That's a peace dollar.
10:51
OK, here here's here's my favorite and a lot of your
10:54
favorites as well. A more.
10:56
I mean, can you really, can you really believe that?
10:59
Listen to it. I mean, I love the stuff.
11:06
I think a lot of you do too. Can you, when you, I mean, it's,
11:09
it's beautiful. That's a good start.
11:12
But when we look at the data underline the value, the real
11:17
value of silver, it's just almost impossible to think of a
11:20
scenario where we don't have higher and higher prices.
11:24
And look, you know, where were we here?
11:26
Let's go out and take a quick look.
11:28
This is what, let's see what our friends at Pimbex are saying,
11:31
right? Silver, $31.21.
11:35
Those numbers we were looking at on Yahoo are the futures prices,
11:38
which are always going to be typically a little bit higher.
11:42
But Pinbex has a quote right now.
11:43
Silver $31.21 per oz. Hey, I love when you come to the
11:50
basement. Part of a big part of what
11:55
facilitates my ability to do this for us to get together is
11:58
sponsorship. Pimbex sponsors Ron's basement.
12:02
If you're looking around to buy some silver, gold, platinum,
12:05
group metals, I just highly recommend, I'm not telling you
12:10
what to do, but consider comparing Pimbex to the other
12:14
options that you're looking at. OK, you're, I think you'll find
12:17
what I found. They've got great selection,
12:19
great service, and what I like best of all, the prices are
12:24
always ultra competitive. For me, it's a one stop shop.
12:28
Takes a lot of the frustration and complexity out of buying
12:31
bullion. When I want to buy something, I
12:33
can go there. I know I'm getting a good price
12:35
and I know that the package is going to show up and be wrapped
12:39
up like a little Fort Knox. And don't forget, if you ever
12:41
decide to consider converting part or all whatever of an IRA
12:45
into precious metals, talk to the people at Pinbex again.
12:49
They'll be able to help you get more metal for your money.
12:54
All right, guys, let's move on. Here's the other final.
12:56
I, I promised I wouldn't show it again.
12:58
Well, here, let's I got a couple things to show you about silver.
13:01
This also was pointed out by the Silver Academy, but it is a
13:06
chart from I believe it's Deutsche Banky.
13:10
Did you know this? This was shocking to me.
13:12
OK, you can't see it 'cause it's covered by the Ron's basement
13:16
thing in the upper, But this is basically a chart of major
13:19
global financial assets and how they performed year to date.
13:24
Guess who's number one baby? Guess who's leading the pack,
13:28
huh? Right here on the left, right,
13:30
silver. Look at that.
13:32
Silver beat out the NASDAQ, beat out the Dow Jones.
13:35
S&P oil, copper, gold did pretty well.
13:38
All right, that's good. All these different indexes all
13:42
around the world, the Nikkei, the DAX, all of them who came in
13:45
#1 silver. Now, you would hope that that
13:49
would mean that's Porsche, that silver would get a little more
13:52
attention. And it will, OK?
13:56
It will. And don't forget also when we
13:58
talk about this, this, this, this 250, two $170 silver
14:04
potential, right? We're talking about a 9X
14:07
increase. We talked about this last night,
14:09
guys. Look, we are in a very similar
14:11
situation to the 1970s right now in this country.
14:15
In the 1970s, silver went up. Hold on, what is it?
14:18
25 times? I don't have to pull the sheet.
14:20
I don't remember 242425 times. We're talking about 8X, OK?
14:27
I mean, it could even be more extreme.
14:29
I can't. What's 24X?
14:32
That would be 1000. I mean, I even to me that sounds
14:35
absurd. But guys, we could have these
14:37
massive, massive moves in silver.
14:41
Let's double check. I got to make sure I'm right
14:43
here. Let's pull out the notes and
14:45
take a look, OK? In the 1970s, silver rose from
14:49
$1.50 in 1970 to nearly $50.00 in 1980.
14:54
A 25 time increase. Really.
14:57
Actually more. But if silver went up by 25
15:01
times, I don't know what's 25 * 30?
15:04
Oh, here, let's check it out. I don't think I'm not predicting
15:08
this. Don't get mad at me, I'm not
15:09
going to make a thumbnail pointing this out.
15:12
OK, and here we go 25 * 30. OK, that would be $750.
15:20
I stand corrected. I think I said $1000.
15:23
Nonetheless, we could be in for massive, massive, massive moves.
15:26
Now let's talk about guess what? Think about this.
15:31
In the 1970s, when we had that crazy move in silver, there was
15:35
not a solar industry. There was a photography industry
15:39
that used a lot of silver, but it wasn't exactly growing
15:42
gangbusters. We've got a solar.
15:45
We're not even going to talk about military, aerospace, all
15:49
the other batteries, electric cars, all that stuff.
15:53
We're just going to quickly touch on new crazy data.
15:56
I mean, it's every day. I'm sorry, I have to point this
15:59
stuff out to you that came out about, about the solar plants
16:03
around the world. Here we go.
16:05
We talked about this one. So we're just going to touch on
16:07
this briefly. World's largest solar plant
16:10
featuring over 5 million panels gets switched on.
16:16
So this one, stay with me here 'cause we're going to talk about
16:20
the one they're planning next. This one gets gets switched on.
16:24
It looks really cool. So again, look at all those,
16:29
those that's not a solar farm guys.
16:31
That's a silver farm is what we call them here in the basement.
16:35
Cause each one of those little panels, those millions of
16:37
panels, right, probably has somewhere between a half and a
16:41
full ounce of silver. I don't want to exaggerate.
16:44
I don't know if these are dubbed by facial panels.
16:46
If they are, you know, they say on average right now a solar
16:50
panel has about 2/3 of 1 ounce of silver.
16:53
So in theory, these, those could each have an ounce and a half
16:58
because 2 * 2/3 is well, an ounce and a third, right. 4
17:03
thirds. I don't know.
17:05
But anyway, those are, those are solar panels out there.
17:08
OK, World's largest, it's a 3.5 GW operation and Jing Jang and
17:16
it's got, this is what I found interesting. 5.26 million
17:19
panels. For reference, one GW can power
17:23
100 million LED light bulbs. And and then we also showed when
17:27
we were digging into this one, that one GW of power is equal to
17:32
like 1.3 million horses, like the power that it generates.
17:37
So that's the that's the solar panel.
17:39
And those of you that that are with me every day, I appreciate
17:42
each and everyone of you. Yes, Oh my gosh, hold on.
17:45
We're going to go to the next crazy set of data about the
17:49
solar panel industry next. But first, thank you.
17:52
I'm talking to you, right? There's you joining.
17:55
We got 500 people. Thank you, Vincent for that
17:58
super chat. It's a big deal.
18:00
I really appreciate you being here.
18:02
We work together, we're a group, we're a family.
18:05
I want you to know that we appreciate you being here and I
18:08
want you to feel like you found a little silver and gold home
18:12
away from home. You're part of the club, baby.
18:15
If you want to call yourself whatever you like, I'll never
18:17
tell you what to do, but we like to call ourselves basement
18:21
dwellers and we love our silver and gold.
18:23
And I tell you what, when we get that 200 and 52170 dollars
18:27
silver, well, can you only imagine how much fun it'll be?
18:32
Please, if you want to do something nice and doesn't it
18:35
feel good to do something nice does give this a thumbs up and
18:40
please subscribe to the channel. Now let's go look at the newest
18:43
breaking news about China and solar.
18:49
This one, doesn't this look familiar?
18:51
All right, this is a different article, guys.
18:53
This is a different solar plant. Now the world's biggest solar
18:57
farm Willpower 6,000,000 homes, an 8 GW facility.
19:02
What was the other one? The world's biggest right now
19:05
wasn't at 3.5 gigawatts or I don't know whatever.
19:09
This is an 8 GW facility. This one's in Inner Mongolia and
19:13
is more than half the this it will be more.
19:16
It will be equal to more than half the entire installed solar
19:21
capacity in the United Kingdom. Look at that.
19:24
Isn't that crazy looking? That looks like outer space.
19:28
Remember that's not a solar farm, that's a silver farm.
19:31
OK just want to read you a couple of the pieces of data.
19:36
State owned power company announced to build this solar
19:39
farm enough to power a small country. 8 GW facility is more
19:45
than half this one facility will be equal to more than half all
19:49
of the and this comes from Auk newspaper, the Independent UK.
19:53
So it'll be it'll be equal. 1 facility in China is equal to
19:57
half of the entire installed capacity in the United Kingdom,
20:02
capable of powering roughly 6,000,000 homes.
20:06
It'll be online. OK, they're going to they're
20:09
going to begin construction in September of 2024, so not too
20:13
long here. And we'll come online by June of
20:15
2027. I don't know how many panels.
20:19
I mean, is it going to be 10 million panels?
20:21
I don't know. OK.
20:22
But again, guys, this is just starting, OK?
20:27
This just shows you the growth and demand.
20:30
Think about that. Take a step back, right?
20:32
We talk about it all the time. You just don't play chess, you
20:35
play 3D chess. And this right, they haven't
20:39
even started building this yet. It's going to be the next three
20:42
years. This shows us why there's these
20:46
estimates of increased demand for silver.
20:49
And this is just China. We know India is doing the same
20:52
thing. And guys, China and India again,
20:55
take another step back. You, you 3D chess player
20:58
thinking about silver again. I want to remind you of
21:02
something In the 1970s, when we had these crazy returns and
21:06
silver, we didn't have China. China and India were third world
21:10
countries back then, right? They weren't burgeoning
21:14
industrialist countries with hundreds of millions of people
21:19
moving into the consumer class, wanting electricity, right?
21:24
Wanting electronics, all of which is creating massive
21:29
amounts of demand for silver. China has installed more solar
21:36
power capacity than any other country more than 600 gigawatts.
21:41
Wow. And remember what a gig one GW
21:43
can can light up 100 million LED light bulbs.
21:48
It's read the China's role is critical in reaching the global
21:52
goal of tripling renewables because the country is expected
21:56
to install more than half of the new capacity required by 20 30.
22:02
OK, now let's just quickly go to Germany, right?
22:05
We're not even our friend Mark fellow basement dweller shared
22:09
this article with me. And at the beginning of the
22:11
article, it talks about how electricity prices in Germany
22:14
are going through the roof and businesses are now starting to
22:18
realize like the electricity prices aren't coming down.
22:22
So read what's going on this from Reuters corporate solar
22:26
shift newly installed photo Motalic capacity on business
22:29
rooftops rose by 81% year on year in the first four months of
22:35
the year, outpacing the 1% growth in the residential
22:38
sector, data by the BSW solar power association shows.
22:43
A May survey by Polestar you Gov showed more.
22:46
This is in Germany, more than half of German.
22:48
Germany's a massive economy also guys, one of the biggest in the
22:52
world. Half of German companies with
22:55
suitable rooftops plan to install solar power systems in
23:00
the next three years. BBMW forecast that nearly all
23:04
manufacturing companies in Germany will use solar energy by
23:08
the year 2030. Don't forget enough of the solar
23:11
talk, basement dwellers. Don't forget two big things
23:15
about 3 big solar is exploding. OK, Don't think of a solar
23:21
panel, think of a silver bar. OK, don't call it a solar farm,
23:25
call it a silver farm. OK.
23:26
And the other big thing to remember, it's exploding.
23:29
It's silver. Those panels, one of the big 3D
23:34
3D chess time, time to put your thinking cap on exploding,
23:38
right? Demand, there's silver.
23:40
But one of the big key things that that that that is a major
23:44
issue in the solar panel industry is durability of the
23:47
panels. Are they going to last 20 years?
23:49
Are they going to last? So each time that that little
23:52
bar of silver gets put into that solar panel, bye bye.
23:56
It's gone for 20 or 30 years. OK, All right, enough of that
23:59
young people. How young are you?
24:03
I'm very transparent with you guys.
24:05
I'm 54 years old. Are you like me?
24:07
Like some days I don't know how old you are, but some days I
24:10
feel like I'm 75 years old. Some days I feel like I'm 40
24:13
years old. This morning I had one of those
24:15
75 year old mornings. So, you know, none the less
24:21
young people, right? The older we get, the further
24:24
away they seem. But guess what?
24:26
Young people are becoming very, very interested in silver and
24:29
going. Why is that a big deal?
24:31
What would happen? OK, if the younger generation we
24:35
know, right? We already know.
24:37
Wait till you hear tomorrow what you're I'm going to tell you
24:40
about India and gold. More absolute crazy data.
24:45
Indians love gold, Chinese love gold.
24:48
Old Indians love gold and silver, right?
24:50
Young Indians love gold and silver.
24:53
Old Chinese people, they're nothing like a cool old Chinese
24:56
guy. They're wise, right?
24:57
They love gold and silver. Guess what?
25:00
Young people all over Vietnam, Thailand, China, India, they all
25:04
love gold and silver. Woo Hoo.
25:06
Great, great, great, great. Hold on here.
25:08
What about? Hey, Dan.
25:10
Thank you for that. Super champ Vincent.
25:12
I'm gonna pull you up. Vincent Leone the tiger.
25:16
Thank you. And our friend Danny, Doc J,
25:21
Much love. Stay healthy and keep stacking.
25:24
Yeah, I know it can be stressful.
25:26
Thank you for the Super chat. What if let's, let's, let's hear
25:30
about let's hear about what's going on with the young folk.
25:36
OK, The young folk. Millennials.
25:39
You know what a millennial is? Millennials.
25:41
Oh, let's go to the top. Hey, it's our friend of the
25:43
Silver Academy again, thank you, John, and he gives me permission
25:47
to use his information on the live streams.
25:50
So we really appreciate the silver Academy gold rush 2 dot O
25:54
global use spark bullion boom. America is starting to jump in
26:00
too. OK, TikTok and Reddit fueling
26:03
the silver silver squeeze. Oh man, guys, think about this.
26:07
Think about this for one second when you think about silver.
26:11
OK. And then we'll get back to that
26:12
article with with the new technology that we have in the
26:16
world now, instant communication.
26:19
Think about these two things. Think about silver and gold and
26:23
platinum for that matter, and think about these two things.
26:25
Instant communication. OK, Instant ability to purchase.
26:30
If you wanted to buy a monster box of American Silver Eagles
26:34
right now, you could go to Pembex, right?
26:37
And in 5 minutes you could buy a monster box of American Silver
26:42
Eagles or a monster box of Krugerrands or a monster box of
26:45
whatever. Think about how different again
26:48
compared to the 70s things are now.
26:51
In the 70s, people read newspapers, talked on Rotary
26:54
dial telephones. I remember and you know, right
26:57
went to talked to the water cooler at work.
27:00
And then if they wanted to buy some silver, they waited till
27:02
the weekend and they drove to the local coin shop and they
27:05
waited. It's so different now.
27:07
Now the communication is instant and the ability to purchase is
27:13
instant. We could get, we can get a
27:15
silver like a, a Lightning, I'm going to call it that.
27:19
That's what that's a new term. We're going to use a lightning
27:22
silver squeeze. Think about that's, that's a 3D
27:25
chess moment, OK, Think about the 70s and what happened and
27:29
think about now and think about how the communications and the
27:32
ability to buy things instantaneously, how different
27:36
it is. I know you'll say I'm a silver
27:39
pumper. That's fine.
27:40
I believe in this. I believe what I'm saying.
27:43
I believe we are in a completely different environment on many
27:47
different levels. And I think the millennials are
27:49
starting to wake up. Let me get back to that article
27:51
because this is fascinating when we hear some statistics about
27:55
the menemnials, TikTok and Reddit fueling the silver
28:00
squeeze gold hoarding in China, Vietnam, Korea.
28:03
We forgot about Korea. They're got, gosh, Vietnam,
28:06
Thailand, Korea has, has gold vending machines right at the
28:10
convenience stores. But here's something that they
28:13
conveniently forget to tell you about Korea.
28:16
And, and that is that South Korea has more, more convenience
28:20
stores than anywhere else on the planet.
28:22
And what are they putting in those vending machines that bend
28:26
gold? Probably silver too.
28:27
Young generations buying gold and silver.
28:30
OK, why? You know, I feel sorry for the
28:32
young people. Look around.
28:33
This photo says 1000 words. This guy's on TikTok.
28:37
Hello, friend. And what does he say?
28:40
He he reordered this, this is a big viral thing.
28:44
This guy reordered his identical Walmart shopping list for 2022
28:50
for 45 different items. So he went back to a shopping
28:54
order, excuse me, that he'd had in 2022.
28:59
In the current day, ordered the same 45 items and the price went
29:02
from $126 in 2022 to 414 dollars.
29:08
The same basket of goods nearly quadrupled.
29:11
So can we understand why these millennials, Gen.
29:14
Z and millennials are the most shut out of the housing market?
29:19
Let's all have a quick drink of coffee and get into and then
29:21
we're going to talk about these millennials and gold and silver.
29:30
By 2028, Gen. Z will not only be the majority
29:34
of voters, but also the driving force shaping our political
29:37
future. This same voting bloc has no
29:40
faith that politicians care about their future.
29:43
They are not just disillusioned, they feel deeply betrayed and
29:47
their sentiment is not unfounded.
29:50
This is a serious issue that cannot be ignored.
29:53
There used to be some logic that investing in in education would
29:56
secure upward mobility. However, the the ruling class is
30:02
involved in theft on a massive scale.
30:04
Well said Mr. John Little from the Silver Academy.
30:08
OK, now this is where it's interesting.
30:10
Millennials and Gen. ZS allocate three times more of
30:13
their investment portfolios to alternative investments than
30:17
older generations. This is from New York.
30:19
High net worth individuals believe that U.S. stocks offer
30:23
the best opportunities for growth assets, but that
30:25
conviction is less held by younger generations, finds the
30:30
2024 Bank of America Private Bank study of wealthy Americans.
30:37
So the younger people have a different attitude.
30:39
Millennials and Gen. Z are increasingly looking
30:42
beyond the traditional stock and bond markets to build their
30:45
wealth and are driving demand for everything from investment,
30:48
real estate and private equity to digital assets and gold.
30:53
OK, I'm going to go ahead and read this even though it's not
30:56
highlighted. Gen.
30:57
Z and millennials find themselves unable to qualify for
31:01
what was for what was considered the American dream, home
31:05
ownership. But instead of wallowing in self
31:08
pity, they are turning to gold and crypto.
31:11
This is where we get the data. Young investors driving demand
31:14
for alternative strategies. 72% of younger investors between the
31:19
age of 21 and 43 believe it is no longer possible to achieve
31:23
above average investment returns by investing solely in
31:27
traditional stocks and bonds. That compares, right?
31:30
72% of the younger people feel this way, but that compares to
31:34
only 28% of the investors over the age of 44.
31:38
So people over 44 like me, but not me 'cause I don't believe
31:43
it. Do you believe it, right?
31:44
Believe that stocks and bonds are the way to go.
31:47
I mean, yeah, yeah, that's been working, but I don't know, we'll
31:51
see how that works out long term.
31:52
Whereas these younger people have a different opinion.
31:55
The study found that among younger high net worth
31:59
investors, 47% of their portfolios are in stocks and
32:04
bonds, far lower than investors over the age of 44 who have 74%
32:10
of their portfolio. 17% of their investment portfolios are
32:14
allocated to alternatives. OK, that would include things
32:18
like silver and gold compared to 5% allocated to alternatives by
32:23
older investors. Most, 93% say they plan to
32:26
allocate more to alternatives in the next few years.
32:31
Nearly half on crypto. Another 38% are interested in
32:35
owning it. They rank crypto among the top
32:37
opportunity for growth. OK, well, they that maybe
32:40
they're right, maybe they're wrong.
32:42
I'm not anti crypto but I'm a silver and gold guy.
32:45
Here we go. 45% own physical gold as an asset and another 45%
32:51
are interested in owning it. Overall, 41% of the wealthy own
32:58
18, which is 18%, or are interested in buying, which is
33:03
23%. So either, OK, overall, 41% of
33:07
wealthy either own which is 18% or are interested in buying,
33:12
which is the other 23%. When you add 23 and 18, you get
33:16
to 41 physical gold. So what is that telling us?
33:20
That's telling us that the younger people in the West are
33:24
interested in silver and golden. Time for a 3D chess moment,
33:29
guys. I have a fancy chart here.
33:31
I'm gonna, I'm gonna see if I can pull this up 'cause I don't
33:34
think that that I didn't see this on the cover of the Wall
33:38
Street Journal. But let's see if I can find it
33:41
quickly. Of course, nothing's quick.
33:44
There it is. I found it.
33:46
Here we go. OK, guys, right over, right over
33:50
there. See me.
33:52
Hey, everybody, I'm down here. I'm little.
33:55
I shrunk. You probably wish my mouth would
33:57
shrink too. But nonetheless, this shows us
34:00
guys there, there, there, there is been there.
34:03
We better thank the people in India and China and the central
34:05
banks, OK? Because when we look at this
34:08
chart, what are we seeing? OK, silver and gold, physical
34:13
metal, China, India and the bricks, right?
34:15
Central banks, they're the only ones buying.
34:18
This is good news, OK? They don't buy mining stocks,
34:22
right? They can't, a lot of them.
34:23
And central banks aren't going to buy mining stocks in the USA.
34:26
Nobody's been buying physical silver and gold, and nobody's
34:30
been buying many. This is a big opportunity for
34:33
improvement in the USA when we get the younger people.
34:37
If this turns into a green check mark, that means silver is $65
34:44
an ounce, gold is $3300.00 an ounce.
34:46
Because what we have achieved, I'm still over here.
34:50
There we are. There's that chart, Hey, there's
34:52
Pinbex. Anyway, what we've achieved, OK,
34:55
it's been extraordinary in the precious metal sector.
34:59
Extraordinary. OK, but I'm gonna tell you this
35:02
right now. What we need to remember, right,
35:05
is that it's only been done with a small segment of the market
35:10
participating this world central banks and and the Eastern
35:14
people, right? The whole western part of it has
35:18
not participated in the physical side and on nobody's been buying
35:23
the mining stocks. And when the mining stocks start
35:25
getting bought, when they start having great returns and people
35:29
start saying, Oh my God, the gold mining stocks, why are they
35:32
going up? Oh, it's because gold and silver
35:33
are going up. Then people will start buying
35:35
more of the physical metals as well.
35:38
OK, All right. And don't forget in the next
35:41
couple weeks, we can have a premature summer rally and
35:45
silver and gold. And that has been, I mean, the
35:47
mining stocks had a great day on Friday, right?
35:49
Gold and silver had a great day. People are starting to pay
35:54
attention and when they really fully start to pay attention, it
35:57
will get super, super interested.
36:00
Interesting. Hey, I got to say we have the
36:02
Ron's Basement website with a forum there.
36:06
And our friend Big G did a little giveaway when somebody
36:10
had to guess the price of of silver, the closing price of
36:13
silver. Thank you Big G for doing that.
36:16
And the winner's name was Big AI 777.
36:19
And I know Big G is reaching out to him and we're probably going
36:22
to try to do another giveaway on the website for him toward the
36:25
end of the year. So thank you very much for that.
36:28
Let me put up the banner to say thank you to the other sponsors
36:31
here in the basement, right? First, mining gold and Fortuna
36:36
Mining bull stocks that I own, although I'm not giving
36:39
financial advice, but I own both of those companies.
36:42
You can learn more about them at their respective websites.
36:45
Now let's talk about the big that was.
36:47
That was the big picture, right? Long term for silver and gold,
36:51
but what's going on in the short term?
36:53
Let's talk about some big developments going on right now.
36:56
Let's go out, let's go out to what happened on Friday that it
37:00
had a major impact on the silver and gold price and talk about
37:04
what it could mean in the coming couple weeks and coming couple
37:08
months as well. OK, here we go.
37:14
This is from Yahoo Finance. This is what they are saying.
37:19
June jobs report raises pressure on the Fed for a September rate
37:24
cut. This is kind of funny, actually,
37:28
but nonetheless, we'll read it quickly.
37:30
The June jobs report sent a clear message to the Federal
37:34
Reserve. The central bank risks falling
37:37
behind the curve. So now everybody's calling for a
37:41
rate cut. Everybody's clamoring the Fed
37:44
needs to cut rates. OK, Don't forget, guys, it's all
37:47
a bunch of BS short term noise. We'll get to that more in a
37:50
second. Neil Duda, head of economic
37:54
economics at Renaissance Macro, has become the leading voice.
37:57
OK, this is new news to me, probably you as well on Wall
38:01
Street. The leading voice arguing that
38:04
the Fed ought to begin its rate cutting cycle in September.
38:07
In an e-mail just minutes after the Friday's jobs report
38:10
dropped, Duda wrote quote, the employment report ought to firm
38:14
up expectations of a September rate cut.
38:17
Economic conditions are cooling and that makes the trade-offs
38:20
different for the Fed. In Duda's view, the Fed's July
38:23
meeting should set the table for a September cut.
38:27
So we got the July meeting coming up and then they talk
38:32
about the Fed and their predictions, the shift from
38:34
March to June, which was when the Fed kind of shifted in their
38:38
stance and people thought, oh, they're not going to lower rates
38:41
now saw the need for for three cuts go out the window.
38:46
OK. But a plurality of Fed officials
38:48
still viewed 2 cuts as the most likely outcome this year.
38:52
The recent run of Labor data should provide plenty of fodder
38:56
for officials and the two cut camp to bring more colleagues
39:00
over to their side. Look, unfortunately guys,
39:03
unfortunately, and this is only temporary for right now the Fed
39:08
matters, the economic data matters.
39:11
Don't forget Thursday of this week, we are going to get, Are
39:14
you ready right now that we got the the jobs number out of the
39:18
way, which worked in our favor. We're going to get the inflation
39:21
report. Look, the jobs think about this
39:24
with the jobs data that came out.
39:26
A very important thing to remember about jobs is it is a
39:30
very much of A lagging indicator and a very slow moving
39:35
indicator. That means that like all of
39:38
them, because think about it, companies just don't like
39:40
immediately lay off all their employees when the economy slows
39:43
down. It takes time for the jobs
39:46
numbers, but when it starts going down, right, when
39:49
employments unemployment starts going up like it is, it's also,
39:54
you know, it's the momentum what it carries it further in that
39:59
direction. the Fed knows that you know, it's all short term
40:03
noise at this point, right? But but the Fed knows that in
40:08
the market is clamoring for these rate cuts, right?
40:11
That could be that could be the catalyst.
40:13
That moves the silver and gold price here as we move into the
40:17
end of the year. And then on top of that, right
40:20
on top of that Thursday, which will now be the newest, biggest
40:26
piece of economic data that will move right be ready right
40:29
Thursday of next week. It will be a big day for the
40:34
precious metals. Another big day.
40:36
OK, one way or the other, 'cause we will get the inflation data
40:39
for, for what do we have for June?
40:42
OK. But I'm telling you, you know,
40:45
I'm gonna, I'm gonna tell you what to expect.
40:47
I think I would be shocked at this point if the inflation data
40:51
that we get on Thursday shows that inflation is going up.
40:55
I would be absolutely, utterly shocked.
40:58
What we're gonna get is a lower inflation number, right?
41:01
Because of because of two things, right?
41:03
But really, the biggest is because the economy's dying, OK?
41:08
People are dying out there, all right?
41:11
I talk to all kinds of executives, bankers.
41:14
Everybody says things are slowing down, right?
41:18
Talk to a realtor. I got houses for sale in my
41:21
neighborhood that have signs in their front yard.
41:24
Things are slowing down and slowing down quickly, OK?
41:31
Why? Because of the higher interest
41:33
rates. I got this all written out for
41:35
you. OK, Higher interest rates,
41:37
higher interest expense for the government, for corporations,
41:42
for people. People are tapped out on their
41:44
credit cards. People don't have money.
41:47
The swimming pool, the big swimming pool company just said
41:49
last week, right? People are buying chemicals a
41:53
little bit less, but they're buying chemicals for their
41:55
pools, but they're not buying new pool toys, right?
41:58
Their sales are down like 15 percent, 20%.
42:01
I hear it everywhere. My neighbor who's an owns a big
42:05
marketing company that does marketing for nationwide big
42:09
brands, you would know their names, OK.
42:12
And it's it's like a little bit of a higher end discretionary
42:15
type type food type items. He's like, people are not
42:19
buying. People don't have the money.
42:21
Sure, they're going to buy, well, they can't buy steak,
42:24
they're going to buy chicken or they're going to buy pork or
42:26
they're going to buy hamburger. But they aren't buying the
42:29
expensive seasonings, right? The $9 can of of special seed.
42:34
No, they're going to pass on that.
42:36
They'll use salt and pepper. You ever notice how cheap salt
42:39
is at the grocery store? That's one thing that it's still
42:42
darn cheap. Like at ALDI, you can buy a
42:44
giant thing of salt, you know, whatever you call that like it
42:47
looks like a giant cardboard can for like a buck.
42:50
Anyway, I digress, OK. And at the same time, the
42:54
unemployment rates going up. It's just, you know, and what
42:59
have you noticed this? All you hear about are
43:03
restaurants and stores closing. OK, this is the most recent one.
43:08
Let's just quickly take a look at this 'cause this is what's
43:11
happening all over the country. This is from the children's.
43:15
This is called Cnni think, does that stand for Children's News
43:20
Network? Hey, look, we talk about this
43:23
all the time. Basement dwellers.
43:24
We are deep thinkers. It's good for us to go to the,
43:28
you know, kind of the, the, the more shallow into the pool.
43:31
Every once in a while we dive into the deep end of the pool.
43:36
But now we're here at CNN. Definitely the shallow end of
43:39
the pool. But there's some good
43:41
information here. Bob's Stores.
43:43
OK, but listen to this. Bob's Stores, a discount store
43:47
located in Northeast America, is shutting down after 7 decades in
43:52
business. The retailer recently filed for
43:55
Chapter 11 bankruptcy protection and as a result, will soon
43:59
permanently close all 21 of its locations.
44:03
It will liquidate his inventory in the coming weeks.
44:06
And listen to what the what the guy said, he said.
44:08
We we regret that our financial position necessitated the
44:12
liquidation of Bob's stores. That's what the president said
44:15
in a press release. Bob's has been a stalwart of our
44:18
local communities for nearly seventy years, and we know our
44:22
customers remember us as having been there for their major
44:27
moments and their lives. Bye, bye.
44:29
All gone. OK, that's all we're hearing
44:31
about. What did we hear about the other
44:33
day? Let's let me look real quick.
44:35
What was it? What's that place called?
44:36
Hooters. Hooters closing.
44:42
I'm just curious. Right.
44:46
OK, here. Hooters closing.
44:48
See a list of all locations that have closed USA TODAY.
44:53
Also, definitely the shallow end of the pool.
44:57
OK, let me make sure I got you guys on here still.
44:59
Yeah, we do. Hey, let's go check out Hooters.
45:02
All right, Hooters closes list of at least 44 underperforming
45:09
Hooters. OK, we won't go through the
45:11
whole list. What about what about?
45:14
What's the other big major news we got last week?
45:17
Walgreens is talking about how 25% Walgreens, Walgreens, OK,
45:26
sporting goods stores, whatever Walgreens are like little
45:29
miniature grocery stores, pharmacies in communities all
45:33
over the country. They're talking about 25% of
45:36
their stores not performing. And they may very well have to
45:38
close those as well. I gotta I I'm it's just, it's
45:42
crazy at this time, right? Is this time really different?
45:46
Yes. This time really is different.
45:48
OK. The world economy is slowing
45:51
down. Some people might say imploding,
45:53
right, the world. But think about this at the same
45:56
time, the world economy is slowing down.
45:59
The amount of debt, not just in the United States, but all over
46:02
the world, the amount of debt is exploding.
46:05
And crazy enough as it is, we have stock markets at all time
46:11
highs. I mean, it is crazy town that
46:13
we're living in right now. OK.
46:15
The only option, there's only one option that they're going to
46:18
be able to do, and this is think about what this means for the
46:22
silver and the gold and the platinum that you own.
46:26
There's only one solution to this big problem and that's
46:30
going to be that the world central banks, right, including
46:34
and up to the United States Federal Reserve and Jerome
46:39
Powell are going to need to monetize the debt.
46:42
Does that does that confuse you when you hear that term monetize
46:45
the debt? That what that means in basement
46:48
terms is the only option because who's going to buy all this
46:53
debt? We're in a spiral.
46:54
The only option will be for the Fed to print money, right?
46:57
Turn on the printing press and buy the debt from the United
47:01
States. Buy the debt, support the.
47:03
IT becomes a vicious, horrible spiral that results in higher
47:09
prices for everything, but in particular much higher prices
47:13
for silver and gold. OK.
47:15
And they're trying to convince us that everything's great as
47:19
all this is going on. OK.
47:21
Do you believe everything's great?
47:23
I'll ask you that question. I don't believe everything's
47:25
great, OK? These are systemic problems,
47:29
right? This is because of the of the
47:31
perversion that's gone on within the monetary and fiscal system
47:37
in the United States. And really, right, we can't
47:40
completely blame the United States.
47:41
It's going on in a lot of the Western world.
47:43
But the United States is the leader a perversion, right?
47:48
They they made the system so screwed up, right?
47:52
They, they really, it started in 2008, but we won't go there,
47:57
right? There's we are, we are so far
47:59
away from a free market economy from a level playing field that
48:04
at this point it's, it is a very, very scary situation.
48:08
And think about this while all this is going on is a silver and
48:13
gold investor. Think about this.
48:15
They need now they need, right? Especially the United States.
48:20
They need you, right and me and everybody throughout the world
48:24
to need dollars more than ever because we've got so much debt.
48:29
Do I have it up? I do.
48:30
Let's just go for fun. Let's make sure we haven't
48:32
gotten to 35 trillion yet. Nope.
48:35
We're at 30-4 trillion, 882 billion U.S. dollars.
48:41
Don't worry if you're a taxpayer, that's only a little
48:44
over a quarter million per person.
48:46
That's just your share of the national debt.
48:48
If you're an if you're a taxpayer, they need guys, when
48:53
you look at this number, I'm going to go back here again,
48:58
like 10 trillion of that needs to be refinanced in the next
49:01
year or two years. I don't know.
49:03
Whatever it is, it's a massive amount, OK?
49:07
They need the world to need dollars.
49:08
So they are think about this as a silver and gold investor.
49:13
That's why they don't want people to buy silver.
49:16
That's why they don't want you to buy gold, right, 'cause they
49:18
need you to need those dollars so that you can buy the debt and
49:22
keep this. It's, it's, I mean, is it just
49:24
crazy, right? It's, it's like funny money.
49:28
It's like paper money. It's like Monopoly money is all
49:32
it is, right To perpetuate the system.
49:34
Hey, thank you for being here. You have a great rest of your
49:37
Saturday, OK? It's a big deal when you join me
49:40
in the basement. Don't forget to please support
49:43
our sponsors, Pinbex if you want to get your hands on some
49:47
silver, gold or platinum first mining gold and Fortuna mining,
49:51
OK. But most important, again, I
49:54
want to say thank you for being part of this community.
49:57
It's, it's tough, right? We're, we're dealing with
50:00
investing in an asset that we believe in silver, gold,
50:03
platinum, precious metals, right?
50:05
But at the same time, it's an asset that the powers that be
50:10
want to keep suppressed, right? We're also digging into very
50:14
difficult subject matter, right? Subject Matter that is #1
50:19
purposely made very complex, right?
50:22
And, and #2 subject matter that is not always necessarily what
50:28
the mainstream wants us to believe, right?
50:32
We're not tinfoil hat, right? I'm not, I'm not a, I'm a
50:34
realist, right? I guess everybody thinks they're
50:38
a realist, but I don't believe like that we are.
50:41
And I think that most of you don't believe that, that, that,
50:44
that, that we are part of some massive grand conspiracy going
50:49
on out there. But but we do know that what's
50:52
on the surface is usually needs to be investigated.
50:56
And that investigation can sometimes, you know, be
50:59
difficult. So we'll be here for each other.
51:01
I don't know why I went down that path.
51:03
Thank you. OK.
51:04
Be nice to yourself. Be nice to some other people
51:06
today. And I will see you soon.
51:09
Thank you. Bye.
51:11
Bye.