Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **Silver & Gold Price** UPDATE - Expect THIS from Jerome Powell and the FED

Transcript

**Silver & Gold Price** UPDATE - Expect THIS from Jerome Powell and the FED · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:18
The eye, my friends and say hello thank you for joining me
0:22
here in the basement. It's a big deal when you come
0:24
here boy, this stuff can sure get heavy right we got the Fed
0:28
this week, but there's also crazy news out of the silver
0:32
market as well. We're going to cover all of that
0:36
but thank you for being here thank you for being part of the
0:38
basement it's a big deal when you join me down here in the
0:42
basement. I want us to feel like we found
0:44
a little home away from home right like you belong.
0:47
We love to talk about the precious metals people in the
0:50
precious metals community. A lot of people in the crypto
0:53
community have a huge level of interest into silver and gold.
0:57
So this content is focused on what we can expect out of the
1:02
silver and gold markets and guys, it is absolutely insane
1:07
what is going on with silver. But first, let's go get a let's
1:10
get an update. We'll come back to this chart
1:12
later. This one will open your highs
1:14
like never before, but let's go take a look at what is happening
1:19
right now in the precious metals markets And as you can see,
1:24
we're out at CNBC gold currently down almost what $36 in the
1:30
futures market. But interestingly, silver is up
1:33
almost a quarter of a percent and does it make sense when we
1:38
look at this? Get ready to get shocked, dear
1:40
guys. This one is absolutely blowing
1:43
me away. I you're going to find it
1:45
interesting as well think we might be having some technical
1:48
difficulties here hold on one second.
1:51
Make sure if you guys could give me a 5 by 5 to let me know that
1:56
you can see me and hear me, I sure would appreciate that.
2:02
Oh boy and hello. Hello.
2:18
Can you hear me? We're going to start over here
2:22
in one second. For those of you who are on,
2:25
looks like we're trying to get some technical difficulties
2:29
figured out. And hello.
2:34
Hello, basement dwellers. Are you here?
2:39
I think we're here. We'll start over in one second.
2:52
OK, guys, hold on. I think we're back live again,
2:55
all right? Oh, thank you. 5 by 5.
2:57
OK, we're back. We're going to, we'll start over
2:59
the very, very, very beginning because this bears repeating.
3:04
Guys, welcome. Thank you for joining me here in
3:06
the basement. Basement dwellers, big news
3:08
coming out this week from the Federal Reserve, but even bigger
3:11
news. I think when we look at the
3:13
macro picture in silver and what is happening there, it's going
3:17
to shock you. But most importantly, like I
3:20
tell you and I told you twice today, thank you for being here.
3:23
Thank you for being part of the basement.
3:25
Look, it's a really big deal. We love to talk about precious
3:28
metals. We've got precious metals
3:30
lovers. People in the crypto world love
3:32
to learn about precious metals as well.
3:34
So everyone is welcome here and there are big things brewing.
3:38
I'm going to show you a quick chart that we're going to look
3:41
at later. This is going to be a real true
3:45
eye opener for all of us. We'll get to this, this, this,
3:49
this will in no uncertain terms explain to us what is going on.
3:54
But when we go out to take a look at what is happening right
3:58
now, gold's taking it on the chin.
4:00
Well, down $33, about 1%. But silver interestingly is, is
4:06
up almost a quarter of a percent.
4:08
That's what we've been seeing lately.
4:10
Silver showing some strength, some compression in that gold to
4:15
silver ratio that we've talked about many, many times.
4:19
But what's even crazier in silver is what is happening
4:23
right now in the paper markets. Get ready to be shocked.
4:26
Guys. Let me see if I can share this
4:28
with you. This is some incredible data
4:31
that we're getting in regards to the silver paper market.
4:36
This comes from the dude, OK? The total short position in
4:40
silver is now 957 million oz. How much is a naked short?
4:47
How much is naked short? He's asking that on top of the
4:51
short position. How does this story end?
4:53
I'm hoping for 1 billion next week.
4:56
So guys, and this is what's absolutely crazy about this is
5:00
if we go down Magnus pointed this out, in 2024, global silver
5:08
mine production is estimated to have reached approximately
5:12
916,000,000 oz Global silver mine production.
5:18
Remember that number 916,000,000?
5:22
What do we get up here? There's 957 million oz short.
5:28
That means there's more silver shorted sold.
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I'll talk to you about this in a little bit.
5:33
This beauty sold short than the entire global mining industry
5:40
produces in the course of one year.
5:43
Let's think about that for a second.
5:45
How does this get rectified? It's either going to be one of
5:48
two ways. A short squeeze, meaning they've
5:52
sold already right now. More silver sold already in
5:57
paper form, digital form. More silver than the entire
6:00
mining industry will put out for a year.
6:03
They have to buy all that back. That has to be all bought back.
6:07
That could easily create a short squeeze.
6:09
Now option #2 because we'll look at both sides of the old coin
6:13
would be that they successfully do what they've been doing for
6:17
decades, which is manipulate the price of silver down so that
6:22
they can buy it back at a lower price.
6:24
The way the world is shaking out right now with what's happening,
6:27
and wait till you see. We're going to talk about this
6:29
Fed thing that's going to open your eyes, but we're also going
6:32
to talk about what's going on in the world right now from a big
6:36
picture perspective. At the end of this video, that's
6:39
also equally as shocking. I think it gets rectified by
6:43
some form of a short squeeze. And who even had TD Securities
6:48
put out a note about a week and a half ago talking about what
6:52
they were referring to as miniature short squeezes that
6:55
are happening right now because of even imbalances within that
6:59
digital market we could be in? Look, look, guys, we need to
7:06
remember something right between the year what, 2000, in the year
7:10
2011, the silver price went up 10X.
7:14
It will happen again. I believe that.
7:17
Now, look, don't make any financial decisions based on
7:19
anything I'm saying. I'm the guy that was down here
7:22
when silver was 1516 bucks an ounce telling you that I thought
7:25
silver could go to the mid 30s. So I don't know what I'm talking
7:29
about. But if you're a believer in
7:31
silver in the big picture story, right, the attributes of silver,
7:36
it can go up by 10X. Look, OK here.
7:39
See, this is not prepared. I apologize, but I want to show
7:43
you. Let's look at.
7:44
Let's see if I'm right. Let's see if this is indeed the
7:47
truth. This is a silver chart.
7:51
Now I'm sharing the right screen.
7:52
Sorry about that. And we will go to all this is on
7:56
Yahoo Finance. OK, So between here we go.
8:01
Yeah. I mean, look at this.
8:02
In the year it was lower. What silver price $4.55 in
8:10
January of 2001, Silver per oz $4.55 all the way up to $50 per
8:18
oz $49.52 in April of 2011. It can happen, do I?
8:26
I don't need to draw that on there for you.
8:30
Hey, while we're here, let's have some fun and remember on
8:33
what's a challenging day for the markets that the silver market
8:38
does continue, OK? We're going to draw a red line,
8:42
a red line in the sand at $35 per oz.
8:46
There's 35 right there, OK, We got rejected a couple times.
8:52
We got rejected a couple times. We are now right in a good way
8:58
above that price. OK, so it's going to be a
9:01
squeeze or a smash. That's the bottom line as we as
9:06
we rectify what is near record level short positions right now
9:10
in the paper silver market, right the make believe silver
9:14
market, not this silver market. And by the way, I want to say
9:17
thank you to channel sponsor First Mint.
9:20
See my finger, it's right in the middle.
9:21
That's their logo. That's the mint that's owned by
9:25
Keith Neumeyer's First Majestic Silver.
9:29
This is their year of the Dragon round.
9:31
They are a mint located in Las Vegas.
9:34
Isn't silver beautiful? Wow.
9:36
Las Vegas, NV, they're making world class silver products,
9:40
unique products out of they're meant in Las Vegas, NV, But
9:44
what's coolest about it is they're using silver that is
9:47
mined by First Majestic Silver in Mexico.
9:50
So this silver, when you get it from First Mint, right, it comes
9:55
from the mine right to the mint to you, made in the USA and
10:01
never right minted in the USA, mined in Mexico, minted in the
10:05
USA, but never once touched by the Comex or the LBMA.
10:10
This piece of silver that I hold right here has never been part
10:14
of the paper digital manipulative.
10:16
So if you want to support First Mint, you can go to their
10:19
website, firstmint.com. They do have a discount code
10:22
VIPRB. Think of VIP Ron's basement.
10:27
It's a company you can trust, great prices, great service,
10:30
backed by First Majestic Silver, owned by First Majestic Silver
10:33
and Keith Newmeyer, who's like royalty in the precious metals
10:37
world. Goldman Sachs, let's touch on
10:39
them briefly, is telling us. We're going to.
10:43
We got to talk about our friend gold.
10:44
OK, here we go. This came from zero hedge.
10:50
This was from April, April. I just want to go back in The
10:54
Time Machine here. When gold, when Goldman Sachs
10:57
says the gold can reach $4500 by year end, UBS, JPMorgan and
11:05
Goldman upgrade their precious metals outlooks.
11:08
Guys, these are UBS, JP Morgan and Goldman Sachs, the biggest,
11:17
right, the behemoths of the financial services industry in
11:22
the world. Again three months ago telling
11:25
us, look and we know what's happened since then, we've gone
11:28
up. This can absolutely continue to
11:31
happen. And this is very interesting.
11:34
Goldman Sachs put out a note recently, Don't tell anybody,
11:38
but Goldman Sachs recently put out a note, right, that they
11:42
think that the Chinese are secretly buying more gold.
11:47
What do you think as the world explodes?
11:52
And we're going to touch on that toward the end of this video as
11:55
well that that, that the Chinese are buying more gold.
11:59
Hey, I also want to say thank you to channel sponsor First
12:02
Mining Gold. They also sponsor gold and
12:04
silver content here in Ron's basement, First Mining Gold,
12:07
their Canadian gold development stage company.
12:10
They have massive gold resources that have been established in
12:14
the ground in Canada, the Du Parque project in Quebec and
12:19
they also have the Spring Pool project in Ontario and they have
12:24
the Cameron project up in Canada, up in Canada as well
12:27
That also has 1,000,000 ounces of gold in the ground.
12:30
We're talking millions of Oz of gold in the ground to me, right?
12:36
I don't own a lot of physical gold.
12:38
I don't keep any metals here at the house for that matter.
12:41
But none the less, if I'm going to own gold, I like this idea
12:45
that I own a gold mining company that has millions of Oz of gold
12:49
in the ground and the value proposition in my opinion is
12:53
very attractive. You can learn more about them at
12:55
first mining gold com. Now let's talk about the big fed
12:59
meeting. Are you ready huh?
13:01
Going to put your thinking cap on for a second because
13:04
Wednesday we got the big fed meeting OK now two big things
13:08
about this number one, I can tell you right now there is no
13:11
chance they're going to cut rates If I'm wrong on this one
13:15
or raise rates for that matter, it will be a shocker.
13:18
It is literally a one in 1000 chance that they're going to
13:23
change interest rates, which almost seems too good to be, I
13:28
don't say true, but maybe there will be an outlier.
13:31
But quite literally, let's go out and I'm going to show you
13:34
this was as of earlier. So it may have changed.
13:37
I'm running running a risk here with you.
13:40
Here we go. So this was earlier today.
13:44
This is the Chicago Mercantile Exchange Fedwatch tool.
13:49
And as you can see, Wednesday, we're going to get the monetary
13:52
policy decision from the Fed. But I got big, big, big insight
13:56
I want to share with you about what's really going on with
14:00
this. But right now, as you can see on
14:03
your screen, OK, the current rate is 4.25 to 4.5 here.
14:11
That is down here. And they're telling us that the
14:14
big money is saying there's a 99.9% chance that rates will
14:20
remain the same. That means there's a one in
14:23
1000. Oh, here it is.
14:25
Oh, actually that's interesting. It there's a one in 1000 chance
14:30
that rates would actually go up because as you can see, that's
14:34
the 4.5 to 4.75 range which would be up.
14:38
So there's zero chance according to the big money on the CME that
14:43
we're going to get a rate cut in a very slight one in 1000.
14:47
I believe that is chance that the rate will get cut, but
14:50
that's not really the important part.
14:52
The important part is this. I drew this for you guys.
14:57
This is what's really going on. OK, I'll wait, wait for that to
15:03
load up for you. All right.
15:05
So right now what everybody wants is for the Fed to cut
15:10
rates, right? So here is interest rates.
15:14
This would be interest rate, and there's 4%.
15:16
I kind of drew 4% on my chart. Everybody wants interest rates
15:20
to get cut. OK, and and and and for
15:24
inflation, that's IR interest rate inflation, IMF to remain
15:29
the same. OK, That would be good for the
15:31
guy. That would be, you know, that
15:33
would be the markets would fly and gold and silver would go up
15:36
and blah, blah, blah. That's not probably going to
15:39
happen. I don't think it's really
15:41
probably ever going to happen because what the reality is over
15:45
here and don't worry, this has a happy ending for gold and silver
15:49
people. OK.
15:51
Is that interest rates IR are going to remain the same, but
15:57
inflation is going to go up in the in the reality of the
16:01
situation is this accomplishes over here interest rates
16:06
remaining the same, but inflation going up.
16:09
Is this over here what everybody thinks they want inflation
16:13
remaining the same but interest rates getting cut?
16:16
Because this difference that you can see right here between the
16:20
inflation rates and the interest rates that represents negative
16:27
real interest rates, OK. And this is we're looking at
16:30
what the real inflation rate probably is.
16:33
That difference, right, is still present over here under this
16:38
scenario as well. So while everybody's clamoring
16:42
for, oh, we want interest rate cuts, we want interest rate
16:45
cuts. We don't need interest rate
16:47
cuts, OK? It's six or one half dozen.
16:49
The other what we're going to get our negative real interest
16:52
rates. And the bottom line, as you can
16:55
see right here, I'll draw a line under the bottom line, is that
16:58
the US dollar is being devalued, that the value of silver and
17:03
gold will go up if we choose to use this as the unit of measure.
17:10
You know what this is, right? This.
17:12
Do you know that there's a difference between this hold on
17:16
and this? If we're going to use this,
17:23
which is what we have now as our unit of measure, the value of
17:27
gold and silver measured in these will go up because this is
17:30
paper. This is the most real form of
17:34
what they've got, right? This does not have any form of
17:37
scarcity to it. This, as we know, can be printed
17:40
into Infinity just for your educational entertainment
17:44
purposes. Guy down in Florida sent me this
17:46
about a year ago. This is, let me pull that up
17:51
there. You can see on the bottom, you
17:54
should be at the top, you can see a silver certificate and it
17:59
says redeemable to bear on demand for silver.
18:03
This is the old dollar. So what we're going to measure
18:06
our silver, right? We should really measure this.
18:10
Let me show you the back of this coin.
18:12
Unbelievable beauty. It's the the Chinese calendar on
18:16
the back of that coin from first met.
18:18
If we're going to value this measured in these paper dollars,
18:23
this is going to go up in value. Just my opinion.
18:26
I don't have a crystal ball, right?
18:28
But the other thing that we've talked about guys is we can
18:31
always think of this in terms of Oz.
18:34
Think of this in terms of something that stores value.
18:38
Think of this as a battery, right, people?
18:42
And in this case of this one in Mexico recently toiled and
18:45
worked. Big respect to all those miners,
18:48
to all their energy, all the machinery that went in to make
18:52
this happen. All that value is stored in
18:56
this. Think about it, right?
18:58
If you go do some work for your neighbor and they pay you 35 of
19:02
these, how long is that going to keep value?
19:06
If they pay you one of these, how long is that going to keep
19:09
value? I don't know.
19:10
I would make the argument for much, much longer.
19:12
So that's what's really going on with that.
19:14
Now let's go look at the debt clock because this all ties back
19:18
into what we're talking about right here on the screen, OK?
19:23
And the debt clock, because that dollar, oh, that's from 1980.
19:27
This is interesting. Hold on a minute here.
19:30
I'll get the right screen up for you.
19:33
This is the US debt clock from 1980.
19:37
See if I can circle that for you.
19:39
Yes, right there. I was 10 years old.
19:42
How old were you in 1980? Well, guess what, guys?
19:45
Back then, the debt per US taxpayer, per taxpayer was a
19:50
whopping $11,000. What do you think that number is
19:55
today? And let's go here.
20:00
State world debt clock. U.S. debt clock.
20:03
See if I can. There we go.
20:05
So from 1980 through today, oh, I remember in 1980 we had
20:11
$10,000 in debt per taxpayer. Today we have $300,000.
20:16
And guys, we are getting ready, getting close.
20:19
Let's do this in yellow because this is important.
20:23
We are getting close to the big day because our national debt in
20:27
the United States is getting very close to rolling over to
20:32
$37 trillion. Do you think that's going to
20:34
make front page news on the Wall Street Journal or the Financial
20:40
Times? I don't know, right?
20:41
But we do know one thing for sure with higher interest rates,
20:45
right? Because the world doesn't want
20:47
our debt anymore. This 37 trillion in debt is
20:51
making this number. You can see in the kind of
20:53
middle bottom that I'm circling now, that's our interest
20:57
payments, which are almost a trillion dollars.
20:59
Need I remind you that a trillion is a million times a
21:03
million? And as that number goes up, that
21:06
makes this. Hold on, let me get my eraser.
21:09
I think I have an eraser. Yeah.
21:11
Oh, yeah, I can erase stuff. Cool.
21:15
That makes this number the deficit go up higher and higher
21:20
and higher and higher. OK.
21:23
And remember is the US federal government only brings in 5
21:28
trillion per year and at this point we're spending a trillion
21:32
on interest. So the US national debt draw a
21:35
line with there's an arrow with high interest rates makes our
21:40
interest expense go up. And then from there that makes
21:45
the deficit go up. And guess what?
21:46
The deficit makes go up. It makes the debt go up.
21:50
Do you see a circular pattern here, right, U.S.
21:53
National debt night to the interest expense to the deficit
21:58
makes the debt go bigger. It turns to hold on.
22:03
Let's get a different color out for you.
22:06
We'll do blue. It turns into a big that spiral
22:13
OK on top of that on top of that, let's just briefly talk
22:17
about this fact that we don't talk about often enough maybe
22:21
because it's no fun to talk about it kind of scary to talk
22:25
about the gold and silver are a refuge in times of uncertainty
22:30
in terms of war, in terms of financial crisis and guys in
22:35
terms of upheaval. And let's just quickly, this one
22:38
blew me away when I actually we realized everything that is
22:42
going on in the world. And I don't know that this is
22:45
really an absolute complete, but I thought it came very close.
22:50
From the Silver Academy, global chaos, nuclear threats and
22:54
America's unraveling. Is this the end of the old
22:57
order? Look at this.
22:59
The world on on the brink. How many countries are in chaos
23:02
right now? How do we get here?
23:05
All right, let's talk about the conflicts that are fueling this
23:08
uncertainty in the world. We have Russia and Ukraine, OK?
23:11
We also, that's a big deal, right?
23:13
We're essentially supporting Ukraine in a war against Russia.
23:19
We also have Israel versus Hamas, Israel versus Lebanon,
23:22
Israel versus the Hootie's, Israel versus Syria.
23:27
And now with Israel versus Iran, I mean, very scary situation,
23:32
but there's more. India's at odds with Pakistan,
23:36
Azerbaijan versus Armenia, North Korea versus South Korea, North
23:41
Korea versus America, China versus Taiwan, China versus
23:46
America, and we have civil wars in Sudan, Somalia, Somalia,
23:50
Miramar and Yemen. I mean, guys, there's just so
23:54
much going on. But then this is a Wacker, this
23:56
one. This is the United States, OK,
24:00
this show's largest single day US political protest.
24:04
We know we had massive political protest over the weekend.
24:08
This is not a political show. I'm not pro or con.
24:10
I won't go into that. This is a gold and silver show.
24:14
But guys, look at this. This blew me away, OK, this
24:21
measures participants in millions over here.
24:25
OK, shoot, I kind of screwed that up on you.
24:28
Anyway, this is participants and millions.
24:32
If we go back and look at the George Floyd Black Lives Matters
24:36
protest, you can see that's comes in at about .5, I guess
24:40
about 500,000 people. These protests, the No Kings
24:44
protests that they did over the weekend had 5 million people, a
24:49
full 10X of what we had for George Floyd and Black Lives
24:55
Matter. I don't want to be the the
24:57
preacher of doom or the same the world is ending or anything
25:00
along those lines. But when we look at gold and
25:03
silver, why do you own gold and silver?
25:05
Why do I own gold and silver? Right, because it's held its
25:07
value through every war, political system, anything
25:12
that's happened in the world throughout history.
25:14
And when we look at what is going on right now in the world,
25:18
I think we can feel safe that we own some gold and silver.
25:21
Now on top of that, when it comes to silver, for those of
25:25
you who've just joined us, there's now a short position in
25:28
silver that is bigger than the entire year's mining output,
25:33
right? And the world is demanding more
25:35
and more silver on a daily basis.
25:38
I forgot to tell you, please give this video a thumbs up,
25:42
right? You're watching on YouTube.
25:43
Find that thing that looks like that, give it a thumbs up and
25:46
subscribe to the channel. We I want you to come back.
25:49
We are in for a wild, wild ride in the coming months, quarters,
25:55
years, even decade. We can see 5X10X.
25:59
Look, I don't have a crystal ball.
26:01
I could be dead wrong, but don't forget that bear right there.
26:05
He was blindfolded with $2500 written on it for over a year as
26:10
we down here sat here and pounded the table and said
26:14
absolutely, we're going to get $2500 gold.
26:17
And when that happens, we'll take the the blindfold off.
26:19
Well, now the blindfolds off and we're approaching right within
26:22
striking distance of $3500 gold, right?
26:27
You know, $60.00 silver by April first.
26:29
Do you believe I'll ask you the question?
26:32
I mean, I don't know, it sure seems like a good time to not be
26:37
invested in Fiat currencies, but you know, everybody makes their
26:42
own decisions. I want to say thank you for
26:43
being here. I also want to say thank you
26:45
channel sponsor Moon Pay. They're the fintech leader,
26:48
growing and innovating on a weekly basis.
26:51
And our friends at Ledger, they're the cryptocurrency
26:55
hardware wallet security leader. Most importantly, I want to say
26:58
thanks to you for joining me here in the basement.
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Come back, I'll look forward to seeing you next time.
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Have a great day and take care.