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🚨MARKET DUMP!🚨 THIS Is "What's Happening" -- Silver Price & Gold Price · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  The price of silver and gold are struggling.
• 0:04
  They are getting clobbered. They are getting annihilated
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  over the last few days. But why?
• 0:10
  What's the reason for this sudden precipitous drop in the
• 0:14
  price of gold and in particular the price of silver?
• 0:19
  We need to look at what the Fed is doing and what that's causing
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  in the US dollar and the bond market.
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  That's where we can find the answers.
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  But even more importantly, we want to know what do we have to
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  look forward to as we approach the end of the year and into
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  2024. Will we see new all time highs
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  in the gold price? And will we see silver above 30,
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  maybe even $40 next year? Hey, I warned you earlier in the
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  week that this week the Federal Reserve was going to have not
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  less than six speakers, including Jerome Powell himself,
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  and that they would be coming out with all kinds of hawkish
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  bravado about how they're going to cool inflation, fight
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  inflation, put up a good fight, tighten monetary policy, but we
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  know the Fed is out of real ammunition.
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  Heck, Jamie Dimon himself the CEO of JP Morgan Chase, when he
• 1:30
  talks, people listen. Did you hear what he said?
• 1:34
  If you're looking to buy gold, silver, or platinum, do yourself
• 1:38
  a favor and check out PIM Beck's, the online precious
• 1:42
  metals bullion dealer and sponsor of Ron's Basement.
• 1:46
  I was a happy customer before they offered to support the
• 1:49
  channel. You'll find they have the best
• 1:52
  prices, quality and service. I think Penn Beck's is best, and
• 1:56
  you will too. And be sure to tell him that
• 1:59
  you're from Ron's basement. He warned that rising rates
• 2:03
  between 5 and 7% would be much more difficult for the US
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  economy to tolerate than that rise that we had earlier in the
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  year, from 3% to 5%. the Fed knows they're in a box.
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  All the top analysts are beginning to recognize that.
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  So what does that mean? The only thing left for the Fed
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  to do is to use verbal jujitsu to try to control inflation.
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  Also, everybody knows that mathematically, the only option
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  for the Fed? The only option for our U.S.
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  government, who has mismanaged the country's finances
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  horrifically for decades. The only option is to inflate
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  the debt away. Otherwise, they're going to
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  crash everything. And you know that the powers
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  that be don't want that anymore than the average American family
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  like you and me. Now, what is this doing to the
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  silver price and gold price? It's applying downward pressure,
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  partly because temporarily it's making the US dollar go up in
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  value. You got to remember, when we're
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  talking about the dollar, we're talking about relative strength,
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  the dollar related to or relative to the Japanese yen or
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  the euro guys. Those are other cruddy
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  currencies. It's not real strength that
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  we're talking about in the dollar.
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  It's almost like comparing the best three players on your son
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  or daughter's Little League baseball or softball team,
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  comparing them to the Mvp's in the major leagues.
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  The Major League MVP by the way. That would be silver, gold and
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  platinum. The other factor pushing down
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  the silver price and gold price is bond yields.
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  The bellwether of them all, The 10 year bond yield is at a
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  higher rate than it's been in over a decade, reaching 4.55
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  earlier in the week. Look.
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  The reality is the government, consumers, businesses anywhere
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  you look cannot tolerate much higher interest rates.
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  Although when the Fed talks with their hawkish bravado that has
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  pushed up the rate on the 10 year bond.
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  Now we can look no further than the TLT ETF which is a major
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  financial product. Which?
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  Which follows the 20 year bond yield, it has dropped almost 48%
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  in value this year alone. That's a bond fund that is
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  supposed to be a safe investment.
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  What does that tell us about the delicacy of the current
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  financial situation? Things have grown out of
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  control, very fragile and very delicate, and you better believe
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  that Jerome Powell and the other Fed reserve governors know that
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  this is going on. First, Mining Gold is a
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  development company advancing 2 of the largest gold.
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  Projects in Canada, Spring Pole in Ontario and Du Parquet
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  located in Quebec. Each already has. 5 million
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  ounces of gold reserves but. Exploration initiatives are
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  underway at both. Projects to find even more gold.
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  First, mining is well financed, has zero debt and owns an
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  interest in four additional Canadian gold development
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  projects. And what does Moody's recent
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  announcement tell us about the delicacy right now of the US
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  economy? They came out and warned that if
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  we have an October 1st government shutdown, that would
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  reflect poorly upon the credit rating of the United States
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  government. And you need to remember that
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  Moody's is the only remaining major credit rating agency that
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  has U.S. government that rated at a top tier.
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  What else is going on out there? Have you heard about the S&P?
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  Not 500, the S&P 493? Because if you strip out the
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  seven biggest stocks in the S&P 500, these incredible return
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  numbers that we've seen over the last year get get neutered all
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  away. The The other 493 stocks in the
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  S&P 500 have barely gone up 4% this year.
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  We're living in crazy times when seven stocks can account for
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  such a lion's share of both the market capitalization and the
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  returns for our biggest segment of the stock market.
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  It's going to continue to be interesting.
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  Let's pull it all together and see if we still feel optimistic
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  about our friends silver and gold.
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  We know to watch what the Fed does, not what they say.
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  And remember, what we're getting from them recently is just a
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  bunch of talk. Gold and silver are still
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  hanging in there pretty darn well.
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  And when more of the people, more of the sheeple as we
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  sometimes refer to them, wake up to the fact that the Fed can't
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  really fight inflation with any real tools going into the next
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  year or two. When people wake up to higher
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  inflation and lower economic growth and they put it all
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  together and realize that's stagflation, we could likely see
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  the price of silver and gold skyrocket.
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  And it's not just us that are thinking this.
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  I'm hearing top banks from Europe.
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  I'm hearing top banks in the United States falling for new
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  all time highs in gold next year.
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  And when gold gets to a new all time high, when it gets above
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  $2100 per oz, it's going to be clear sailing all the way up to
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  2500 or 2600. And you can only imagine what
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  that will do to the silver price.
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  I think we have good times ahead.
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  I'll be here for you through it all.
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  Hey, I don't have a crystal ball, you know that.
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  But when we look at the big picture, when we look at the the
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  forest through the trees, we can see a bright future for silver
• 8:43
  and gold. Hey, if you want to grab
• 8:44
  yourself some silver or gold, it's time for the commercial
• 8:47
  pin. Becks right there.
• 8:51
  They're a sponsor of my channel and I have purchased silver and
• 8:55
  gold from them in the past. I trust Pin Becks.
• 8:59
  I'd recommend you check them out.
• 9:01
  What you'll find is the best prices, the best service and a
• 9:06
  family owned operation. You can call them on the phone,
• 9:10
  ask questions. They're there for you all the
• 9:13
  way, step by step. Hey, thanks for watching and
• 9:16
  I'll see you soon.