Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 SILVER & GOLD 🚨 EVERYTHING Hinges on THIS... Risky!

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🚨 SILVER & GOLD 🚨 EVERYTHING Hinges on THIS... Risky! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  The biggest day of the year for the gold price, for the silver
• 0:04
  price. Today we'll hear from our friend
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  Jerome Powell, the United States Federal Reserve, regarding
• 0:08
  monetary policy. But what does it mean?
• 0:11
  And even more important, I'm going to cut right to the chase.
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  I was having a conversation this morning with an executive from a
• 0:18
  bullion company and I had an aha moment and we were talking and
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  you know, he was talking about how it kind of the Bizarro world
• 0:29
  that we live in where there's so much importance placed upon what
• 0:33
  Jerome Powell and the Federal Reserve says about interest
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  rates, where everybody's so paying attention to it.
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  And. And I.
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  And I realized, and I want to share this with you because it
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  was a very deep, very pertinent thought, like, yeah, it's so
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  screwed up that we're living in this fantasy make believe,
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  Unicorn fart dust, whatever you want to call it.
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  Paper money, electronic money, money printing, quantitative
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  easing, quantitative tightening repos, reverse repos, all these
• 1:05
  crazy smoking mirrors tricks. I told them his name's Mike.
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  I said Mike. I said, you know, I said it's
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  like, it's like we're waiting for the Wizard of Oz to come out
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  today and talk and everybody's so Cray and we're going to get
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  into all the details, right, about what to expect and what it
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  means, blah, blah, blah, blah, blah.
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  What we're going to do here is try to turn off the smoke point,
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  the mirrors the other way and see what's really going on.
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  How will it impact the silver price, the gold price and the
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  platinum price? But it was just one of those
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  moments like what a bizarro financial world we're living.
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  And that's not the kicker cuz I got a kicker for you on this
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  one. I know you guys like kickers,
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  OK? I know you like well any we're
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  gonna get, we'll get to that later.
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  Suzy tells me I have to stay on track.
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  I'm trying to enthrall you. OK?
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  Are you enthralled yet? Because the kicker is this.
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  Yeah, we're living in this Wizard of Oz.
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  Make believe paper money, electronic money world.
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  But think about this. What if we were still on the
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  gold standard? What if we used real money,
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  right? Like what's at the bottom of
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  Exter's pyramid? John Exter, a former Federal
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  Reserve economist who didn't die that long ago, who spent his
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  life trying to explain to everyone how silver and gold are
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  the base of all money. Always have been, always will
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  be. But what if we were still
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  explicitly using Golden? We wouldn't care about the Fed.
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  It wouldn't be any of this, you know, smoke and mirror pony
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  clown show that they're doing and everybody's, you know, I
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  mean, it's freaking. It's ridiculous.
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  What do you. I don't even, I don't watch
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  CNBC. Maybe 5 minutes a month at most.
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  OK, what do you think they're all talking about today?
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  Oh, the Fed this. Oh, the Fed that.
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  You know, what if we were using silver and gold?
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  What if? What if?
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  Our what if? When it gets back to being the
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  base of our real money, right. We wouldn't care about this.
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  Make believe Jerome Powell and what he says and doesn't say.
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  And we've already covered at nauseam.
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  We have right, my friends. But he's been so wrong about so
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  many things for for for, for the last, what, 10 years?
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  Inflation's transitory. Is it really?
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  Is it temporary? That's what you also said.
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  Yes. OK, somebody found the hot dog.
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  We have a new little game we're playing.
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  We'll see how it goes. It's called hide the hot dog.
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  And there's a hot dog. Pete, you got the reason why I'm
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  doing this is because so many of you reached out saying how you
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  like looking for what are called Easter eggs in my basement.
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  Easter eggs are like hidden little things.
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  So every day I'm going to hide the hot dog.
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  Somebody found it. Can you find the hot dog?
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  It's somewhere on the screen. I can actually see it right now.
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  But we're not here to talk about hot dogs.
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  We're here to talk about the Fed and what's going to happen.
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  It's going to be an interesting day.
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  It could make for huge, massive moves in the silver price.
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  And you know, Jerome's playing hard to get.
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  You know, like when you're we're younger and you wanted to find a
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  girlfriend or a boyfriend and you would play hard to get and
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  manipulative. That's exactly what Jerome is
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  doing right now. Interest rates are important.
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  Unfortunately, we are forced to live in this Wizard of Oz
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  fantasyland that they've concocted.
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  The financial fantasyland, right?
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  Fantasy Island. Remember that show?
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  You're probably as old as I am. Fantasy Island?
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  Remember De plaine? De Plaine?
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  Anyway, we're forced to live here on the Fantasy Financial
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  Island, so the interest rates do matter.
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  But what's more important than interest rates is where interest
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  rates are relative to inflation. And we know that inflation is
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  going up, up, up again. This happened back in the 70s
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  and 80s, guys. We had a wave of inflation and
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  then it kind of went away and then we had a second wave.
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  It's kind of like the hurricane. When a hurricane hits, OK,
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  there's the first wave, then the I, and then the second wave.
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  And the second wave is always, always stronger.
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  What's so important is not just the interest rate.
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  They could, they could raise interest rates again, right?
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  They're they're going to do all kinds of tricky stuff, be
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  prepared, all kinds of verbal diarrhea.
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  That's as nasty as I get on this show, but that's really what it
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  is. But at the end of the day, what
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  really matters is the Fed has run out of real ammunition.
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  All right. And interest rates are going to
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  get to a point where they're lower than inflation.
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  And when everybody else wakes up, everybody else, like your
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  Uncle Fred or your Uncle Dick or whatever uncle you may have,
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  right? The one who doesn't know
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  anything about what's going on but can tell you all kinds of
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  interests, interesting stats about whatever you know.
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  But when they start to wake up that, huh, you know what
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  inflation's picking up again, then that's going to be the big,
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  big turn. And it's coming.
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  It's going to happen. And when it does right, we
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  aren't going to brag. I don't want you to brag, don't
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  brag. And we could be wrong.
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  I could be dead wrong. I mean, I guess the argument
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  could be made that we're kind of wrong right now.
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  But when it happens. When, when reality sets in for
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  the mass, we are going to know that you were out ahead of the
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  curve and it's going to be a very interesting time for the
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  silver price and the gold price. The Fed, yeah, you know, so if
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  so, what if they're able to raise rates a little more down
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  the road, what really matters is the devaluation of the US dollar
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  and when inflation, it's above the real interest rate.
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  Again, that's exactly what we're going to have, negative real
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  interest rates and guys, stagflation, we got, we have
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  that right now, Okay. If you look at the real
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  statistics, statistics, statistics, shadow stats and the
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  others, we have that right now. Negative real interest rates.
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  Do we have that now? Maybe, Maybe not.
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  OK, the problem what we're dealing with here are government
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  statistics versus real statistics.
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  And the real world statistics paint a much different picture
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  than what the official Bureau of Labor and Statistics are going
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  to tell us, whether we're talking about GDP, inflation,
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  employment numbers. No matter what, it's a well
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  known fact that those numbers are heavily massaged.
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  I guess you would say they've been manipulated.
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  I'll go ahead and say it. Let's talk about what to expect
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  today from the Fed. This is interesting.
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  This is what the, this is what the the this is what CNBC says.
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  Actually, Gavin, a quick article I want to read you some of the
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  highlights from what CNBC see. Yeah.
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  Oh yeah. That's where Kramer is.
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  Jim Cramer, He's a financial wizard.
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  Yeah, CMB says. CNBC says here's everything the
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  Fed is expected to do on Wednesday.
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  Key points There's virtually no chance the US central bank will
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  choose to raise its benchmark borrowing borrowing rate when
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  it's two day meeting concludes on Wednesday.
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  So here in just a couple hours, the meetings concluded, Jerome
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  will give his announcement, the Fed will put out their
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  announcement and then they'll have a little talk, right.
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  There's like I read earlier today, you probably saw this as
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  well. They're saying there's like a 1%
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  chance that they're going to raise rates.
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  OK, what about lower rates? Boy, wouldn't that be crazy.
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  There's probably a lesser chance that's going to happen right
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  now. But nonetheless, they're saying
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  just 1% chance they're going to raise rates today.
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  If they do raise rates, that would be like an atomic bomb for
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  the precious metals prices. That would not be good.
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  We don't want to see that happen and it's a very minimal chance
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  that would happen. OK, The meeting will feature the
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  feds quarterly update on what it expects for a bevy of key
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  indicators. Interest rates, gross domestic
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  product, inflation and unemployment.
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  Now remember, we got some keys to talk about here regarding the
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  Fed. But remember what the Fed
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  expects. They also expected two years ago
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  that inflation was not a problem, inflation was
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  transitory, Inflation was temporary.
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  And then Jerome had the gall to tell us two years ago that he
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  wasn't going to raise rates until the end of 2023.
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  And you know that story, they just finished raising rates.
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  They're not supposed to be raising rates until right now.
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  But we're going to listen to this guy, The Wizard of Oz of of
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  fantasy. What did I call it?
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  Fantasy Financial Island. That we live on here.
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  Welcome to Fantasyland, right? Everything's fine.
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  We can just print money. We can, you know, as long as
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  those, the 1% do OK. Everything's fine here on
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  Fantasy Financial Island. Yeah, right.
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  I don't buy it. There's widespread belief the
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  Fed will make sure the market knows that it shouldn't make
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  assumptions about what's next. So they don't want you to make
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  assumptions. You know what they want you to
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  do. They want to spin your head and
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  make everybody confused. They don't want you to to know
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  what's really going on. So be prepared.
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  Okay, you're a smart person. You can.
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  You can look at the forest through the trees.
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  The situation right now in this country, if things remain the
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  same, is not looking good. We just hit $33 trillion in
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  debt. We are spending $1.4 trillion
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  more every year than we're bringing in.
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  The banking sector is on life support.
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  We have some bonds, 30 year treasury bonds that have
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  recently hit a price. They they basically went down
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  50% in value. Those are the types of bonds now
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  that's the extreme nonetheless. But all the all those are those
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  are what the banks are holding up.
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  We have a we haven't talked about commercial real estate for
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  a while. I guess all those office
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  buildings are filling up, right. No wrong, commercial real
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  estates. The banking sector is on life
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  support, I would say. Wouldn't you say that our
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  government with the numbers that I just talked about, aren't they
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  on life support also from a financial perspective, I would
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  say yes. Think about this, think about
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  you as a person, as a household. You manage your money.
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  We're all forced to manage our money.
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  Let's just for simplicity sakes, say you make a hundred, your
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  household makes 100,000 a year and you were spending 150,000
• 12:31
  per year and you already had a big pile of debt.
• 12:34
  I won't go through all the student loan debt.
• 12:36
  You have car debt, credit card debt, mortgage debt, all kinds
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  of debt and you're spending 150,000 and you're only bringing
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  in 100. Would you say you're on life
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  support? I would say you are on life
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  support and our government's on life support.
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  You got the banks on life support, the government, the
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  consumer, the American middle class, the working class, the
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  people that do all the work in this country.
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  That might be you. Are you one of those people?
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  I'm one of those people. I'm, I'm.
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  I love what I do. I'm working right now.
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  I'm the luckiest guy on the planet.
• 13:12
  I get to connect with you, right?
• 13:14
  But the middle class that works right does all the work.
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  They are on life support. They have credit card debt at
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  all time highs. They've got, you know, the whole
• 13:24
  list, right? They're real income.
• 13:27
  You're a real income. You.
• 13:29
  Congratulations. It's called Bidenomics.
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  And according to our president, this is what he said.
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  And this is how he said it. It's called Bidenomics.
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  And it's working. It's working.
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  I don't know what financial fantasy island he lives on, but
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  excuse me, President Biden, you might want to check with the
• 13:51
  middle class and see how they feel about how great it's
• 13:55
  working right now, because they're real.
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  Incomes have dropped by about 10% over the last two years, but
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  it's working. So you got the Fed.
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  Oh, that's right. This is about the Fed.
• 14:09
  What am I thinking? You got the Fed, The Federal
• 14:13
  Reserve people. Have somebody complained that?
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  I was calling him Jerome? I have our Jerome.
• 14:19
  Jerome. Jerome, right, he's in a
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  position now. Banks, government, consumer.
• 14:25
  And there's more. We won't even, we won't go
• 14:27
  there. You know, if things are on life
• 14:30
  support because of the high interest rates, the high
• 14:33
  interest rates put even more pressure on all those sectors
• 14:37
  and we have inflation going up and he's going to raise interest
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  rates more. That's going to be really
• 14:43
  interesting. Give me a break.
• 14:45
  No. We're headed for what is most
• 14:47
  likely a big recession, which will require monetary easing,
• 14:51
  which will only feed the inflation fire higher.
• 14:54
  And you know what happens next? That's when everybody wakes up.
• 14:58
  That's when Uncle Dick realizes, you know what, He was right.
• 15:03
  I should have bought some gold. I should have bought some
• 15:05
  silver. Hey, if you want to buy some
• 15:07
  gold and silver, you know the number one most important factor
• 15:11
  is that you trust the company you're getting it from.
• 15:14
  Trustworthiness is paramount in the bullion dealer industry.
• 15:19
  I trust Pin Bex. I worked with them before they
• 15:23
  became a channel sponsor. So if you're looking to get some
• 15:26
  silver, gold, or platinum, go check out Pin Bex Pi MB, EX Pin
• 15:32
  Bex. I love to say it, but I love the
• 15:34
  company even more. They've got the best prices also
• 15:39
  on top of all those other positive factors.
• 15:41
  Now as we move through let's get let's let's move on let's move
• 15:49
  on. This is interesting.
• 15:51
  This came this Investopedia. The feds anti recession playbook
• 15:58
  make it harder to use. Economists predict here key
• 16:04
  takeaways. Everybody's people are saying
• 16:07
  we're going to have a soft landing.
• 16:09
  We aren't going to have recessions anymore.
• 16:11
  This is from top economists say recessions will be more common
• 16:16
  in the future. Economists at Deutsche Bank
• 16:19
  predict Deutsche Bank. The strategies that countries
• 16:23
  have used to prevent downturns, deficit spending, monetary
• 16:29
  stimulus from central banks are getting harder to use because of
• 16:37
  growing national debts and economic fast and economic
• 16:42
  factors pushing up inflation. Oh, I'm going to finish, then
• 16:49
  I'm going to tell you something. Big economies have followed boom
• 16:53
  and bust cycles for most of history, making the past 40
• 16:56
  years of relative stability something of an aberration.
• 17:01
  The economist argue these are top economists saying recessions
• 17:05
  are coming, inflation is not going anywhere, guys, we are
• 17:11
  likely. I don't have a crystal ball, but
• 17:14
  I can sure look at a bunch of trees and see the forest and
• 17:19
  maybe you can as well. But we are heading into a
• 17:22
  situation just based on the numbers here in the US
• 17:28
  domestically where inflation is going to be a problem.
• 17:31
  But wait, there's more. Yeah, there's even more.
• 17:35
  OK And I'm going to get to that after I ring the bell 10 times
• 17:42
  because we got 100. Thumbs up.
• 17:45
  Excuse me. Please help me out.
• 17:48
  Please press that thumbs up button.
• 17:50
  Hey, thank you, Bobby, for that super chat.
• 17:53
  There's more. Bobby Seale says.
• 17:55
  I wonder what Silver is going to be worth when the aliens, AKA
• 18:00
  demons, show up in the blue sky. Yeah, that would be an
• 18:04
  interesting scenario, Bobby. They would either be really
• 18:06
  valuable or not worth anything if we do have indeed an alien
• 18:10
  invasion. But I'm not banking on that.
• 18:13
  I'm not predicting that. But you know, I guess nothing is
• 18:16
  out of the out of the realm of possibilities.
• 18:19
  Now now, guys, just looking at the numbers in the United
• 18:25
  States, looking at the economy, the debt, all that stuff, it's
• 18:28
  it's obvious inflation's not going anywhere.
• 18:31
  The value of the dollar is going.
• 18:32
  The real value is going down. We know the value of the dollar
• 18:36
  has plummeted over the last 50 years period, but there's a
• 18:41
  massive big other factor. And we talk about it all the
• 18:46
  time and we're going to talk about it again briefly right
• 18:49
  now. And that is the other half of
• 18:51
  the world, The other 2/3 of the world that is moving away from
• 18:57
  US. Hegemony, hegemony and moving
• 19:03
  away from the dollar. They are explicitly, explicitly
• 19:08
  putting things into place to D dollarize.
• 19:13
  Goldman Sachs is talking about it.
• 19:15
  JP Morgan's talking about it. Bloomberg is talking about it.
• 19:20
  Reuters. We haven't talked about our
• 19:21
  friends over at Reuters for a while.
• 19:24
  Reuters is talking about it. Not only is the USA screwed
• 19:29
  themselves up royally on our own.
• 19:33
  You didn't do it. I didn't do it.
• 19:35
  These politicians did it. OK.
• 19:39
  But now the rest of the world is like, sorry guys, we're done
• 19:44
  playing. Your game is essentially what's
• 19:47
  going on, whether you're talking about Saudi Arabia, China,
• 19:50
  right, South Africa, India, Argentina, the list goes on and
• 19:56
  on. You know that in the list,
• 19:57
  Unfortunately for the United States and the United States,
• 20:00
  power structure continues to grow.
• 20:03
  All right, here's a quote from our buddy here.
• 20:08
  Quote The fact that we've only seen 4 recessions over the last
• 20:12
  four decades is very unusual, and one that's likely to repeat
• 20:17
  without an enormous amount of good luck.
• 20:20
  Good luck, wrote economist Jim Reed, strategist Henry Allen,
• 20:24
  and analyst Galena Padsandra Cora Baca.
• 20:28
  Yes, interesting, interesting. Hold on air with me.
• 20:40
  I'm trying to take a little break so we can all relax for a
• 20:42
  minute. All right.
• 20:44
  And here we go. This comes from FX St.
• 20:50
  That rally in gold might not be over just yet.
• 20:54
  Now when we talk about gold, we're talking about silver as
• 20:59
  well. We're talking about platinum as
• 21:02
  well. OK, this guy, he's name is.
• 21:06
  I can't even think. He's a PhD and a Chartered
• 21:08
  Financial Analyst. I've never seen a name.
• 21:13
  Here, let me let me show you. See if you can.
• 21:15
  You probably can't see it. You see that name Primlegslak,
• 21:26
  which again, he's a PhD and a charter financial analyst, Which
• 21:30
  to me doesn't mean anything. But nonetheless it sounds
• 21:33
  impressive. He says reversals are important,
• 21:35
  especially when confirmed by high volume.
• 21:38
  Last week's reversal and gold worked.
• 21:41
  It rallied, just as he had warned.
• 21:43
  He's bragging. The funniest thing about this
• 21:46
  rally is that it has looked, it has little sense, and yet it is
• 21:50
  still quite possible for it to happen.
• 21:52
  Why? Interest rates?
• 21:54
  OK, we're talking about that today.
• 21:56
  That's the big theme of the day. The eurozone raised interest
• 22:02
  rates. Germany is in a recession.
• 22:04
  A lot of Europe is either in or teetering on a recession.
• 22:08
  Yet they raised interest rates, which surprised the market.
• 22:12
  Are we going to get a surprise today?
• 22:14
  Is that 1% chance going to come through?
• 22:18
  Guys, we can deal with anything, right?
• 22:20
  It would be horrific, it would be horrible.
• 22:22
  But we can deal with anything theoretically.
• 22:26
  Globally, rising interest rate should cause the gold price to
• 22:29
  to decline, just as lower interest rates have caused the
• 22:32
  gold price to rally. Instead the gold price moved
• 22:36
  higher. So in the short run that can
• 22:40
  work, though the reason is that's what's bullish for the
• 22:44
  euro, OK? Higher interest rates set by the
• 22:47
  ECB means the euro goes up in value, can be bearish, meaning
• 22:52
  the dollar goes down in value. Nobody talks about this and I'm
• 22:57
  going to talk to you about it right now.
• 23:00
  Traditionally, when interest rates are rising or lowering,
• 23:04
  it's the United States Federal Reserve that sets the pace.
• 23:09
  Okay, they're out ahead of the pack and everybody else kind of
• 23:12
  does what the Fed does, but on a bit of a delayed schedule.
• 23:16
  So that's likely what we saw when the Eurozone raised rates.
• 23:21
  The next one, when rates start to be cut, it'll be the USA
• 23:25
  that'll cut it first and that will be very, very bearish.
• 23:29
  That'll make the the value of the dollar, the DXY, go down,
• 23:33
  down, down. Why is that important to you as
• 23:36
  a silver, gold and platinum investor?
• 23:38
  Because when the dollar goes down in value, the price of
• 23:42
  metals will go up, up, up and it's bound to happen.
• 23:46
  Now that's valuing the dollar against a bunch of other crappy
• 23:50
  currencies. We've talked about that and
• 23:52
  nauseam the dollar in real terms, no matter how you measure
• 23:57
  it, is going down in value and that that trend will continue in
• 24:02
  the coming months, quarters and years.
• 24:05
  You can slice it or dice it however you like, right?
• 24:08
  Jerome can use his smoke and mirrors, show whatever,
• 24:11
  whatever, whatever they whatever they come out with today, which
• 24:15
  is going to be, you know, just a bunch of talk.
• 24:19
  Remember, the most important thing to do with the Fed is to
• 24:22
  watch what they do, not what they say, what they say.
• 24:28
  I, I those are the the surface level people.
• 24:31
  They will believe whatever the Fed says.
• 24:33
  Do we We are already covered. We don't.
• 24:35
  We know we know not to believe. the Fed watch what they do.
• 24:40
  That's the most important component to keep in mind.
• 24:44
  It really is the Wizard of Oz environment right now where it
• 24:50
  doesn't make any sense whatsoever.
• 24:54
  Let's touch let's touch about silver.
• 24:56
  I I want to talk about silver in what's going on again in the
• 25:01
  silver market new price. I'm I'm excited about this
• 25:06
  prospect with silver that we could be experiencing a new
• 25:10
  price discovery mechanism before we get into silver.
• 25:14
  I want to recognize Gold Company who's also a sponsor of Ron's
• 25:18
  Basement First Mining Gold. But it was started by a high
• 25:24
  highly respected like legendary guy in the silver sector, Keith
• 25:28
  Newmeyer. Keith started First Mining Gold
• 25:30
  about six years ago. They have a portfolio of huge
• 25:34
  development projects, gold development projects in Canada,
• 25:38
  their channel sponsor, they make this possible.
• 25:40
  Please go check them out firstmininggold.com and you can
• 25:44
  reach out to their Director of Investor Relations.
• 25:47
  This guy will actually talk to you and talk to you about the
• 25:50
  company. Paul Morris, Okay, his e-mail
• 25:53
  address will be in the description
• 25:54
  paul@firstmininggold.com Let me get let you on a little secret.
• 26:00
  They've got 25 million ounce deposits that have already been
• 26:04
  drilled already been defined in Canada, the Spring Pole project
• 26:08
  and the Duke du Parquet project in Quebec, which is super
• 26:12
  exciting. Do your own due diligence.
• 26:15
  Mining stocks are risky, but to me, the value proposition,
• 26:18
  especially in the development side of the mining sector is
• 26:23
  unprecedented. And it's not just me saying
• 26:26
  this. Peter Grandich, you know who
• 26:27
  Peter Grandich is? He's been on CNBC, he's been on
• 26:31
  NBC, he's been everywhere. He will tell you that the mining
• 26:36
  stocks, especially the smaller development level companies, the
• 26:41
  companies that already have the gold in the ground or the silver
• 26:44
  in the ground if they're a silver development company,
• 26:48
  although there's not a lot of silver development companies
• 26:51
  because there's not any money that's been spent in the silver
• 26:53
  industry. Nonetheless, these development
• 26:56
  level companies are at unprecedented low prices by any
• 27:01
  way you measure it. When you measure the value of
• 27:03
  the companies against the the price of the metals, the value
• 27:06
  of the companies, their assets against what the market cap of
• 27:10
  the company is, it is really incredible.
• 27:13
  This could be a great time to be buying mining stocks.
• 27:16
  But, you know, hey, I'm fully transparent.
• 27:20
  I'll tell you, I would have told you the same thing one year ago.
• 27:23
  And if you'd listened to me and what I did back then, you would
• 27:27
  have lost money. So, you know, can it get worse?
• 27:30
  Yes. Does it feel like it's going to
• 27:32
  be a lot easier for things to get better in that sector?
• 27:36
  Yes. It feels like there's a lot more
• 27:38
  runway to the upside than there is any further downside.
• 27:42
  But anything can happen. Trust me.
• 27:47
  Trust me. Has anyone here lost money in
• 27:49
  mining stocks? Ron has.
• 27:51
  I mean, I haven't sold them, so I guess I haven't really lost
• 27:54
  money. But I've felt some pain, No
• 27:56
  doubt about it. Now let's get back to Silver.
• 27:59
  I went off on a little tangent on you, which I get in trouble
• 28:01
  with from my wife, Susie. I'm going to do my one bag.
• 28:05
  Please. Please.
• 28:06
  If you've not subscribed to the channel, please.
• 28:09
  It helps. Subscribe to Ron's basement.
• 28:11
  I will put out a new video every day for the rest of my life.
• 28:15
  Yeah, you got a friend for life. It's a big deal.
• 28:17
  You're here. You're a basement dweller.
• 28:19
  Welcome. Basement dwellers.
• 28:21
  All 350 of you. Thank you.
• 28:25
  OK, please subscribe to the channel one last time.
• 28:28
  I'm going to beg. You have to look at my big fat
• 28:31
  thumb. OK.
• 28:33
  Please give this a thumbs up. That really, really helps.
• 28:37
  Now let's talk about silver and price.
• 28:40
  What do I what do, What do we mean when we say price,
• 28:42
  discovery and silver? That means, like the name
• 28:46
  implies, how is the price of silver determined?
• 28:51
  Do you know how the price of silver is determined?
• 28:53
  Well, traditionally it was determined by a bunch of fine,
• 28:57
  upstanding professionals who always operated above the board
• 29:02
  at the Commex and even more fine and upstanding.
• 29:05
  And they talked with that fancy British accent at the LBMA.
• 29:10
  Is that changing right now? We've talked about this, but
• 29:16
  we'll quickly review the Shanghai Gold Exchange, which I
• 29:19
  misspoke yesterday. We need to know our history.
• 29:23
  The Shanghai Gold Exchange was started not ten years ago, 20
• 29:28
  years ago. We call it the SGE, and that's
• 29:32
  what everybody else calls it. Also, it's 20 years old.
• 29:35
  You know who started the Shanghai Gold Exchange?
• 29:38
  The P Bok I like to say pin backs right online bullion
• 29:44
  dealer, but I also like to say PBOK, the People's Bank of
• 29:47
  China, because they wanted their own metals market and it has
• 29:52
  grown and grown and grown and now you know it's all over the
• 29:57
  Internet. All the basement dwellers know
• 29:59
  that's the price of silver on the Shanghai Gold Exchange has
• 30:03
  been significantly, I mean significantly higher than the
• 30:08
  price of silver. And the same is true for gold,
• 30:11
  but more so with silver on the Comex and the LBMA.
• 30:14
  The Chinese are like, hey guys, hey, we've got our own market
• 30:20
  over here in China and our markets more based on actual
• 30:26
  physical metal, right, because we sell a lot of it to industry.
• 30:30
  It's not a bunch of leveraged futures contracts.
• 30:34
  And hey guys, we think the price should be a lot higher price
• 30:42
  discovery, OK. Other countries around the
• 30:46
  world, including Hong Kong, right, a lot of silver and gold.
• 30:50
  They're, they're now switching from using basing their prices
• 30:53
  off of the COMEX and the LBMA to the price that's quoted on the
• 30:59
  SGE, the Shanghai Gold Exchange, which was started 20 years ago
• 31:03
  by the P Bock. So we have a new era of price
• 31:07
  discovery, but that's just the tip of the iceberg, OK?
• 31:11
  We know the COMEX and the LBMA are going to be in a world of
• 31:15
  hurt potentially potentially because they've leveraged so
• 31:21
  much the tiny bit of metal that they actually have in their
• 31:27
  warehouses to back up all that make believe silver out there.
• 31:31
  All right, the other one and I love to talk about this because
• 31:35
  I'm, I'm personally a big fan. Do you like Keith Newmeyer?
• 31:39
  You know what let me ask you, do you guys like Keith Newmeyer, a
• 31:42
  lot of silver people love Keith Newmeyer.
• 31:45
  He has been a kind of a legend within the, within the, within
• 31:51
  the precious metal sector. And he is like, he's like a
• 31:56
  warrior for silver investors. He runs First Majestic Silver.
• 32:02
  They're not a channel sponsor. But I am a fan of that company
• 32:05
  and I am a fan of Keith, New Meyer.
• 32:07
  OK, more so because Keith has courage.
• 32:10
  You know, it takes courage to step out, especially as a CEO.
• 32:14
  He has spoken out against the Commex.
• 32:17
  He spoke out against the LBMA. He's spoken out against what he
• 32:21
  thinks is price suppression and priceman.
• 32:24
  It's not just him, right, but he has the courage.
• 32:27
  He coined the phrase triple digit silver.
• 32:30
  Yes, $100 silver. You know, we get attacked us
• 32:35
  baseman dwellers when we talk about $65 silver.
• 32:39
  Keith talks about $100 silver. And he made the bold move to
• 32:45
  start his own mint in Nevada because he's tired of having to
• 32:51
  sell, I would imagine, all of his metal to the, you know, to
• 32:54
  the establishment. So he started his own mint so
• 32:57
  that he can sell silver, more of it, more volume, because they've
• 33:02
  been doing it for a while directly to the consumer.
• 33:05
  My hats off to Keith Newmeyer. I hope your hats off to Keith
• 33:08
  Newmeyer as well. The other thing we need to talk
• 33:11
  about when it comes to silver is premiums.
• 33:14
  I know premiums are down right now.
• 33:15
  And for those of you who don't know, I know most of you know
• 33:18
  and it's OK if you don't know, but a premium is the amount you
• 33:21
  pay over the spot price when you buy a silver product.
• 33:27
  When you take possession of a silver bar, silver coin,
• 33:30
  whatever it may be, whatever you pay over the spot price is the
• 33:35
  premium. Premiums have been down, are
• 33:37
  trending down lately. However, when looked at on a
• 33:41
  historical basis, premiums in the United States have been
• 33:45
  very, very high. Look, at the end of the day,
• 33:48
  I'll argue with you. The price of silver is what you
• 33:52
  pay as a as a as a stacker, right.
• 33:55
  It's what you're paying the the spot price plus the premium.
• 33:59
  To me, that's the price of silver.
• 34:01
  So we are seeing a transformation, right?
• 34:06
  Are we living in a new era, a transformation within the silver
• 34:11
  arena? I mean, I heard Ross Beatty,
• 34:14
  right? He's the chairman and founder of
• 34:16
  Equinox School. Do you think Keith Newmeyer's
• 34:18
  respected Ross Beatty is like the, like, the wise elder of the
• 34:25
  silver and gold sector? He doesn't do a lot of
• 34:27
  interviews, OK, he doesn't do a lot of interviews.
• 34:30
  I heard him talk about about silver.
• 34:32
  He said silver schizophrenic, which I thought was a good way
• 34:40
  to describe it. He said it's a monetary metal,
• 34:43
  but it also has this completely other side of its personality,
• 34:47
  which is as an industrial metal. And we know, you know, solar,
• 34:52
  electronics, medical what? Everything, electric cars,
• 34:57
  everything. The unbelievable demand
• 34:59
  component from industry for silver.
• 35:03
  On the investment side, there's been robust demand for silver as
• 35:07
  well. But the big, big, there's a big,
• 35:12
  big, big. You want to hear about a big
• 35:16
  problem? We got a big problem, but might
• 35:19
  be good for you as a silver investor.
• 35:21
  But it's a big problem for the silver industry in that the
• 35:25
  amount of silver being produced every year is going down.
• 35:30
  Hello, The amount of silver coming out of the silver mines
• 35:36
  is going down. 70% of silver is a byproduct of other mining
• 35:44
  activities. Copper mining produces a lot of
• 35:47
  silver. Lead mining produces a lot of
• 35:50
  silver. Zinc mining produces a lot of
• 35:54
  silver. And I got another little secret
• 35:56
  for you don't tell anybody because we still want to get
• 35:59
  some silver for ourselves and you know where to go get it
• 36:03
  nonetheless. Nonetheless, don't tell anybody
• 36:06
  but the new remember, 70% of the world's silver comes from
• 36:11
  byproduct, mostly copper mining, right?
• 36:15
  That's where it comes from. Guess what?
• 36:17
  And I heard Ross Beatty say this a few months back, The new
• 36:21
  copper mines that are being developed, the easy low hanging
• 36:24
  fruit copper mines, they're done.
• 36:27
  The new copper mines, the deposits are much different.
• 36:30
  I think it's because they're much lower.
• 36:32
  They're much deeper. There's less silver.
• 36:37
  That means though there could be the silk, there's no, no,
• 36:41
  there's very few companies that are silver miners anymore.
• 36:44
  And you know, you got Hekla, you got First Majestic, there's a
• 36:49
  handful of primary silver miners.
• 36:51
  Fortuna Silver is a company that I own a lot of right.
• 36:55
  They're not really a silver miner anymore.
• 36:57
  They're more of a gold miner. Most of the silver miners should
• 37:01
  America's gold and silver, right.
• 37:03
  They, they pivoted. It used to be America's silver.
• 37:07
  Well, they tried. I mean there are no, they're all
• 37:09
  trying to get to diversify out of silver because there's
• 37:13
  there's with this price there's no money in silver.
• 37:17
  So you got mining silver mining companies that are moving away
• 37:21
  from mining silver. I mean, couldn't you say that
• 37:24
  there's been a shift, right? Even Heckler they they tried.
• 37:28
  They bought what was it called Fire Creek a few years back that
• 37:31
  was a disaster. Anyway, that's a whole different
• 37:35
  story. The silver miners are are
• 37:37
  there's a there seems to be a pivot away from mining silver.
• 37:41
  The byproduct amount could be constrained in the future as
• 37:46
  well, but there's even a triple bonus dinger.
• 37:49
  Who can get it? Who can get it?
• 37:51
  What's the triple bonus dinger when it comes to silver supply?
• 37:56
  Do you know I'm gonna give you the answer?
• 37:59
  I'm gonna count. I'm gonna count in my head to
• 38:01
  1012. Hey, Coin Shop.
• 38:06
  Chris, What's the triple dinger for silver?
• 38:11
  Annie Oakley. Thank you.
• 38:12
  I'm not forgetting I'm staying on track.
• 38:14
  Casey Jones, Type 5 for Ding Dongs.
• 38:18
  Coin Shop. Chris loves his Ding Dongs.
• 38:20
  Ron McAdams. Thank you for the Super chats.
• 38:22
  Much appreciated. What's the triple zinger for
• 38:26
  Silver? Hmm.
• 38:28
  Right. There's the there's hardly any
• 38:31
  Number one. I'm waiting now.
• 38:34
  Good try, Ron. But that's all right.
• 38:38
  That's the quadruple Zanger, Ron.
• 38:40
  OK, now I can. I got 4 things I have to
• 38:42
  remember. Let's see if this 53 year old
• 38:44
  brain can remember. Huh, #1 The silver miners.
• 38:48
  There's not any money going into silver and a lot of the silver
• 38:50
  miners are moving away from silver #2OK.
• 38:55
  A lot of silver comes as a byproduct of mining other
• 38:58
  metals, primarily copper, zinc and lead.
• 39:00
  And that supply could be constrained in the future as
• 39:03
  well due to the fact that copper, the new copper deposits
• 39:08
  are much deeper and contained much less silver #3 zinger
• 39:13
  Mexico like what is it? 30% of the world's silver comes
• 39:17
  from Mexico. Have you thought about that?
• 39:21
  Have you heard what's going on in Mexico?
• 39:23
  It is becoming increasingly difficult on mining companies.
• 39:30
  Ask Fortuna, ask America's gold and silver.
• 39:34
  Ask was it Newmont that just closed the big mine.
• 39:38
  They're becoming increasingly difficult and they they they
• 39:41
  provide 30% of the world silver. And our friend Ron, the other
• 39:45
  Ron, Luke Demeyer brought up another great point, Recycling,
• 39:49
  guys. It's not economic to recycle
• 39:51
  silver at these levels. OK, So the silver, when we talk
• 39:56
  about price discovery and the future for silver, it looks
• 39:59
  super bright. We got 196 thumbs up.
• 40:02
  Come on guys, we can get to 200. That's a a tradition.
• 40:06
  I appreciate you. Excuse me, being here in the
• 40:10
  basement. Today's a big day, right?
• 40:12
  Massive announcement here and probably just about an hour.
• 40:17
  Be prepared. We could see fireworks in the
• 40:21
  metals market all right, even if, even if it's just what they
• 40:25
  expect, which is rates get get left the way they are.
• 40:29
  If we get some verbage, some verbal poop out of the Fed, it
• 40:37
  could be very, very interesting. OK.
• 40:41
  Hey, you are the most important part of Ron's basement.
• 40:44
  I appreciate you being here. All of you. 350 people on a
• 40:48
  what? Wednesday morning.
• 40:50
  It's a big deal. Okay.
• 40:53
  You, you, you matter. You're a big part of this
• 40:55
  community. You're a basement dweller when
• 40:57
  you're here, right? We get along with each other, we
• 41:00
  help each other. It's a big deal.
• 41:03
  We got 200 thumbs up. I got to ring the bell that came
• 41:11
  from one of you, Joe F, one of our friends.
• 41:15
  Alright guys, you take it easy and I'll see you tomorrow.