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**ALERT** SILVER Just had a MASSIVE Historic Change... (Gold Price Too!) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Oh, hello, hello. What does it mean when a top
0:05
analyst at one of the top financial services companies
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says something crazy about silver, doesn't just say one
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crazy thing about silver, says several things that are
0:16
outstanding about silver. Historic times two.
0:21
We're going to cover that in this video and again, this is a
0:23
top analyst that we're going to love from a top financial
0:26
services company and bonus feature.
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He actually said the S word yes, squeeze.
0:34
We're going to talk about that as well.
0:35
What about India, Oh, this hubbub?
0:38
Have you heard? Have you heard India has now
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repatriated over 100 metric tons of gold from London, England.
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What are the implications of that?
0:49
What is that telling us? We're going to dig into that as
0:52
well. Should we be very scared?
0:54
I have a big warning for you, silver investor, gold investor,
0:58
basement dweller. A big, big warning.
1:01
I'm so glad you're here. Thank you.
1:03
Don't forget, it's real easy to give this a thumbs up that helps
1:07
get the word out to more people. You can subscribe, it's free.
1:10
If you ever want to mail me an ounce of silver, send me an
1:12
e-mail. And thank you to all the
1:15
contributions from you basement dwellers to the channel.
1:18
I get a lot of emails with articles, ideas, I can't read
1:22
them all in thorough, but I get a lot of the ideas for this
1:26
content from you. So keep it up.
1:28
Thank you. I want you to know that I do
1:30
appreciate your contributions, but let's talk about there's
1:34
several big historic things going on right now in silver, in
1:39
precious metals. Let's talk about the first
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historic event that's occurring right now.
1:45
And you may not agree with me, that's OK.
1:47
But I believe this is a historic time from this perspective for
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silver. But there's another historic
1:54
event occurring with silver that we're going to talk about.
1:56
When we talk about this analyst who we love now who has crazy
2:00
things to say, let's dig right in and let's talk about the fact
2:06
that we are at historic high levels in the silver prize.
2:12
I want you to look at something here, OK?
2:14
And I will continue to say this, I got a big warning for you
2:18
about silver tonight, this coming week, gold as well.
2:21
But none the less, right now, if we look at a 50 year chart of
2:26
silver, somewhere on here it says 50 years all day to 1976.
2:31
How old were you in 1976, huh, you little whippersnapper?
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I was six years old, waving the American flag at the
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Bicentennial parade at Lusher Elementary School in Saint Louis
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County. Florissant, MO.
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The Valley of the flowers. That's not why you're here.
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You could care less. You want to hear about history?
2:51
Boy, if I was smart. I remember after that
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bicentennial parade begging my mom, Mommy, please bring me to
2:58
the coin shop. I want to buy some silver for
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$4.00 an ounce. Come on, mom, it's a steal.
3:05
You know, I was telling her, I'm like 50 years from now, I'll be
3:07
in my basement talking about silver.
3:09
We could talk about how I do the 1976 Bicentennial parade.
3:12
We bought silver for four dollars.
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Yeah, well, you know, she didn't listen to me.
3:17
Now, what's important here? See my yellow finger on the
3:21
screen, huh? Look at this.
3:23
Where we are right now, $30 silver.
3:27
OK, so here's the $30 line. I want you to go all the way
3:31
across, all the way back to 1976.
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Are we, do you agree with me? Are we in historic high level
3:38
prices for silver? Yes, we are.
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There's no way that anybody can argue that we're not a historic
3:45
high levels. If we go to this thirty line,
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how much time have we spent above 30?
3:51
OK, So what is that, 2010, 2011, maybe one or two years in, maybe
4:00
a month back in 1980. So basically you're telling me
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2011, 2012, two. Yeah, that's one year.
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There's one year above 30 in 2011 and maybe, maybe at most
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guys in the last 50. What's 76?
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Yeah, that's 50 years, right? Yeah, 2024, yeah.
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Anyway, you get the point. We spent two years, 125th, 4%.
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Only 4% of the last 50 years have we been above this level in
4:33
the silver price. We are at historic high levels
4:37
in the silver price. And I'm gonna what does that
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mean? What does that mean from a price
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perspective, from a momentum perspective, OK, when something
4:45
hits new highs, it generally continues to go higher and
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higher and higher. There's not a lot of people that
4:52
bought silver in this one year period up here looking to sell.
4:56
There ain't nobody that bought silver.
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A few people OK that are looking that are saying oh boy when the
5:02
guy that the dum dum that bought silver at $40 not the dum dum
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the guy who has a very long term perspective on his silver
5:10
purchases. In 1980 they bought silver for
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$40.00 an ounce. Very few of those guys are
5:17
sitting around saying, boy, when silver hits $40, I'm going to
5:20
buy. I'm going to sell that silver I
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bought 44 years ago. No, when something hits new all
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time highs, it generally continues to new all time highs.
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You don't have to. I just knocked Susie over.
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Sorry, hold on a second guys, hold on.
5:35
I knocked Susie's walkie-talkie over.
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When When something hits new all time highs, it generally
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continues to hit higher and higher levels.
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OK, as we look at this, we're not even going to go through
5:45
that, but let's just for fun, how do I do this?
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No, well, anyway, OK, here we'll just go.
5:53
We'll just we'll just do another quick look.
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Let's look back ten years. OK, look, so 10 year chart
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silver. OK, so I will argue this point
6:03
with anyone out there that we are at new all time highs for
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the silver, historic highs. That's historic number one.
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We have more historic news to talk about that relates directly
6:15
to silver and the S word, the squeeze word by the way.
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By the way, let's not forget about you, you gold levers.
6:24
Here's a gold chart, one year all time high.
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OK, look now that's six months, well six months we're near an
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all time high one year. That's a one year chart, all
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time high in gold. Two year look at look at I mean
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gold is undeniably obviously 10 years gold, 15 year gold, 20
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year gold. Hopefully you're not getting
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dizzy watching this. What do you think's next 30 year
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gold? Look at that unbelievable and
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A50 year gold chart. You know, mom, I'm mad.
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I'm the only thing I'm mad at you about is we could have gone
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and bought gold for what, 100 bucks an ounce in 1974?
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Anyway, historic. And this is the cup.
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OK, this is gold. Same thing happening in silver.
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You want, you want, you know what a cup and handle pattern
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is? We're going to review it super
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quickly because it is the biggest, most powerful technical
7:16
analysis chart in my opinion, in the world.
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Here's what in the same thing is happening in silver right now.
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Gold's already broken out. There's the cup, there's the
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handle. And when it got above this
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level, ba boom, ba boom, it took off.
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We can expect the same thing in silver.
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I also see an upside down head and shoulder, OK, Like somebody
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standing on their heads, There's a shoulder, there's the head,
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there's the shoulder, boom. Same thing going on in the in
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the silver prize as well. We're at historic levels.
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Let's let's remember that. Sorry, sorry, Charlie, sorry,
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all you people that bought tech stocks and buy, buy what, you
7:55
know, the S&P 500 ETF. Nothing against you if you do
7:58
that, but I'm telling you, gold is at all time highs.
8:01
Silver is at all time highs. All right, all right, all right,
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OK. Do you think silver, let's touch
8:09
on quickly 'cause this is important to us, OK, Silver
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stackers in particular, do you think silver's manipulated?
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I want to show you some crazy, crazy data. 15 minutes is all it
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took. That's all it took.
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Is this it? Yeah.
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Here it is. OK.
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This comes from our friends at Silver Dijon.
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I'm sorry. No, the silver.
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Hold on here. Uh, oh.
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Well, we're going all over the place today.
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Hold on. Here we go, folks.
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One more bigger. This is from the OK, we're going
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to try that one more time. This is from the Wall Street
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silver, OK, The Empire Strikes Back.
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This is what happened. Think about this Friday morning,
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OK, The price of silver skyrocketed, almost went to $32
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an ounce again, right? Was doing very, very well.
9:07
And then do you find it? It's isn't it a little
9:09
interesting, right? And what is this telling us?
9:12
Like a lag, Like maybe an hour later, suddenly out of the blue,
9:19
based on no data that broke. All right, this was a lag.
9:22
This was an hour later, we had a massive beat down in the silver
9:27
prize. I think it was like a full
9:29
dollar or maybe two. I don't know.
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It was crazy. All right, so look at this.
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The Empire Strikes Back. OK, 3000 contracts traded in 15
9:40
minutes. Each contract on the Comex is
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worth 5000 ounces of paper. Unicorn fart dust make believe
9:48
silver. That's 31 million oz were traded
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in 15 minutes. That would be like this.
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OK, that would be the price of silver getting clobbered. 31
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million oz bear 15 minutes. Bear in mind the entire year,
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labor, hard work, people all over the world digging, mining
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only produces a little over 800 million oz and in 15 minutes
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they were able to bash down the price of silver with 31 million
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oz paper oz make believe. Did I say Unicorn fart dust
10:28
already right. It's absolutely insane and it's
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about to come to an end. And I'm going to tell you what,
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when you got a top analyst at a top financial services company
10:39
talking about something else historic going on in the silver
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market and even using the S word, what does that tell us,
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guys? What does that tell us?
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Let's put it all together, right?
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We know. We know that the rigging of the
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price at the COMEX and the LBMA is coming to an end.
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Everybody's talking about it now.
11:00
It's almost made it the mainstream media.
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I don't want to knock Susie over again.
11:04
Hold on a second. Let's make sure this is working.
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Susie, are you OK? OK.
11:12
Sorry. I knocked you off your chair a
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second ago. OK, OK, now that's a big deal.
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All right? What?
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Am I worried? OK, tonight I'm worried.
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I'm warning. This is an official red alert
11:27
warning. OK?
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I don't get this feeling. I only say this about once every
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6 1/2 weeks on Sunday. I think if there's ever been a
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time when they're going to bash down the price of gold, bash
11:38
down the price of silver, that it could be tonight.
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I very well could be wrong, OK? But I just got that feeling that
11:46
it that, that, that right now where we are in the summertime,
11:50
in the overall markets, when I'm looking at everything, I throw
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it in, look, this is my artificial intelligence and it's
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real artificial, don't get me wrong.
11:59
But that's what my gut, I call that my gut.
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That's my chat gut, Gut GPT. Yeah, it was right.
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On Friday, I was talking to bald guy money.
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Friday morning, silver was way up.
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And I said, I got a feeling it's going to be one of those days.
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My gut, my gut, GPT was telling me, right.
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And I, and that's not just based on whims, that's based on
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decades of following these markets.
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I think we have heightened risk tonight of a beat down in the
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gold and silver markets. I likely am wrong, OK.
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I'm saying like a 38% chance, 34% chance.
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It'd be real interesting. Will be real interesting to
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watch the silver price tonight when the Shanghai Gold Exchange
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opens. All right, They're taking
12:43
control. We're not going to go down that
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path today, but you know, that big picture for silver is, is,
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is, is, is, is going to be very, very interesting.
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Let's talk about, let's talk about you.
12:56
And then we're going to talk about this top analyst, what
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he's seen as historic going on right now and the squeeze.
13:03
And we're going to talk about this massive amount of gold.
13:07
Why do you think India wants their gold back?
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They're gold from London. Think about it.
13:12
We're going to dig into that one as well.
13:14
But first I want to say thank you for joining me today.
13:17
Thank you to our sponsors, Pinbex Pi MB EX pinbex.com.
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If you want to get your hands on some silver, gold or platinum,
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look, I found Pinbex prices are always pretty much, I won't say
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impossible, but very difficult to beat.
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And I don't want to spend a lot of time going to every website
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on the Internet and having to dig through and figure out if I
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can trust these companies, not trust these companies.
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I know when I go to Pendex, I'm getting awesome prizes, OK,
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getting more metal for my money. And for me, it's a company that
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I trust that I've done a number of transactions with over the
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last year before they sponsored my channel even, OK, I wouldn't
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work with them if I didn't believe in them 100%.
14:02
And the brothers that run and own that company founded that
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company with the mission of getting the most metal in
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people's stacks, right, for their Fiat when they want to
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convert it. I think they're the best Pi MB
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EX. Now let's move on.
14:19
Let's talk about Are you ready? Well, we got some big stuff to
14:22
talk about today, guys, Are you ready?
14:25
Let's see if I can. Let's get there and wrong.
14:30
Here we go. This comes from BNN Bloomberg.
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What does it mean, right when we got a top analyst from TD saying
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that we could have extreme price action, booming silver demand.
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OK, let's go down and let's talk about historic here as well.
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Silver is the latest mine material to experience an uptick
14:53
in global demand thanks to its use and electronics.
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I didn't know that. Clean energy.
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What? And do you know they use silver
15:00
and sanitation? We're going to talk about that
15:02
later, too. That's the big sleeper that
15:05
could explode, guys. I mean, you think solar's a big
15:09
deal? Well, there's another big deal
15:11
that nobody's talking about, and we're going to talk about it
15:13
later. Commodities expert predicts the
15:15
price of the metal will continue to climb.
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Quote. Are you ready for a quote?
15:20
Nothing like a good quote from an analyst.
15:23
I think that silver is probably the most exciting trade in the
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energy transition theme within the commodities complex today.
15:32
Whoa, there's a lot to unpack there.
15:34
Silver most exciting trade in the energy transition theme
15:39
within the commodities complex today.
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That means it's more exciting than lithium, more exciting than
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gold, more exciting than all the other metals that are considered
15:50
energy transition. And that's a big deal.
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That's from Daniel Golly, he's a senior commodities strategist.
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Oh, he's not an analyst, he's a strategist.
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I'm sorry, with TD Securities. Well, Bloomberg on Tuesday,
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quote, this is where it gets interesting.
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What we're talking about here is a market that has been in a
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universally recognized not just recognized the entire universe,
16:18
right? That means beyond our planet.
16:19
That means into the sky as far as it goes.
16:21
You ever think about that? Look at the sky and think how
16:24
far does it go? And then you think, woof, I am.
16:26
Maybe I need to think about something else anyway,
16:29
universally recognized structural deficit.
16:33
OK, there's there's yeah, you make.
16:37
Have you heard that basement to others, there's a lot more
16:39
silver being consumed than is being produced every year.
16:42
Essentially driven by the boom in solar capacity across the
16:47
world. And hold on a second, we're
16:50
coming back to this. You want to see a boom?
16:53
I'll show you a boom. Boom.
16:55
Here we go, man. I got it all for you guys today.
16:58
That, my friends, is a boom. This is what he's talking about.
17:03
This is the amount of solar installed in the first quarter
17:07
of 2024, the big orange line. Yes, and this is in India alone.
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Well, I don't know what you call that AI was going to say Viagra,
17:20
but we'll say a hockey stick looking chart there.
17:24
Yes, I think we can call that a boom.
17:26
Now let's go back. Boom.
17:30
Oh, here we go. Boom.
17:32
All right, boom, solar capacity. OK, a boom and solar capacity
17:37
across the world and the growing trend of electronics being
17:42
embedded in everything that we do.
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I mean, if they're even putting computer chips in people's
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brains, crazy. How would you like that have a
17:49
little silver up in your head? But particularly so in vehicles.
17:54
We don't even talk about that anymore, do we?
17:56
Electric cars, they kind of got shoved off to the side now.
17:59
This is where it gets historic. Historic.
18:04
And then OK. And then we're going to talk
18:05
about a silver squeeze. Yeah, this is OK.
18:09
Take your blood pressure medicine.
18:11
The price of silver was hovering just shy of 32 an ounce on
18:14
Tuesday afternoon, the highest price on record.
18:19
OK, that's historic number one. We already covered that.
18:21
There's more historic aside from brief spikes in the early 2000
18:26
tens and the late 1970s, right, like 4% of the time we showed
18:31
that right. I mean, silver is in if you if
18:34
90 for 96% of history silver in dollars is at an all time high.
18:40
Mr. Galley said the metals recent bullish run is due to
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this is historic and this is the one that nobody talks about
18:49
historical lack of investment in silver specific mines.
18:53
Now we've got a top analyst at a top company, a strategist.
18:57
I'm sorry, he's a strategist. Strategist, not an analyst.
19:02
Anyway, saying that there's been a historic lack of investment in
19:06
silver specific mines. Now he gives another, oh,
19:09
there's this, this guy's the best.
19:10
He gives another real keen insight on what we can expect.
19:13
OK, which has led to supply worries in the industry as
19:18
demand continues. And there's the B word again.
19:22
Boom. Not basement, A boom, basement,
19:25
boom, boom silver. Silver's primarily mine is a
19:32
byproduct of lead in zinc. We know that already in copper
19:36
and gold mine. So there are very few companies
19:39
that mined a silver specifically.
19:42
And as we've talked about, I've talked with, I've talked with
19:45
Keith Newmar, I've talked to the Sean Kunkun from Dolly Barden,
19:49
I've talked to John Lee from Silver Elephant, I've talked to
19:52
Jorge Genosa from Fortuna Silver Mines, who also sponsors the
19:55
show. Thank you Fortuna Silver for
19:57
sponsoring Ron's basement. Fortuna's actually a silver and
20:01
gold miner now. And it's interesting they
20:03
pivoted to gold because finding silver and mining silver, it was
20:09
it was a, it was a very wise strategic long term move when
20:16
they pivoted towards doing both silver and gold because the
20:20
silver mining silver became a is a very difficult business.
20:24
So as a result, like Golly's telling us.
20:26
Nobody's invested in it, so there's been very little.
20:29
We talked yesterday the entire silver mining sector.
20:33
Sit down, guys. Oh my gosh, it's coming out of
20:36
everywhere, out of every hole. We're springing leaks.
20:39
The entire, the market cap of the entire precious metals,
20:43
silver specific mining sector, the entire market cap is $15
20:48
billion. You know, if you just compare
20:52
that like we did yesterday to Home Depot, Home Depot's worth
20:55
300 billion. That means the entire silver
20:58
mining sector is valued at like, I don't know what 5% of Home
21:03
Despot, Home Depot, I hate those big stores.
21:06
But anyway, that's for a different channel at a different
21:09
time. That's what this guy's talking
21:11
about. OK, He says he agrees with me,
21:14
quote in yellow here. As a result of that, the
21:17
structural underinvestment into the mining space has resulted in
21:21
a structural, structural universal undersupply of silver
21:27
that we're seeing today. Gahali added that until
21:32
recently, this is, Oh my God, this is so interesting.
21:36
Supply deficit concerns had been tampered by a quote UN quote,
21:41
massive amount of above ground inventories, right?
21:45
They're saying there's all this extra excess inventory of silver
21:48
above ground. So as the world was demanding
21:52
more silver, they were able to just suck it out of all this
21:56
excess above ground inventory. How long do you think that's
22:01
going to last? OK, OK.
22:05
Of above ground inventories that could be relied upon to balance
22:08
gaps, balance the gap, plug the gap.
22:10
What are we going to say in silver markets?
22:12
But he expects that to change. He says, quote, we think global
22:17
inventories are probably overstated in green there, guys.
22:22
There's not as much silver above ground as they're saying, OK,
22:26
when you account for the amount of silver that is actually
22:29
freely available for purchase. And as a result of that, right,
22:34
that's what they're saying is like the silver that you're
22:36
looking at right now, they Tesla or whoever's going to need it,
22:41
right? The solar panel manufacturers,
22:44
you're not going to sell it, OK? As a result, we're probably in a
22:47
situation, OK, that could lead to some pretty extreme price
22:51
action in silver, he said. Now this is where it gets super
22:55
interesting, where you got to start thinking strategy.
22:57
Golly said that he expects demand to continue to grow for
23:01
the foreseeable future. OK, that's good.
23:03
But added that technology companies using the metal will
23:08
likely quote UN quote, drift out the silver content, replacing it
23:13
with cheaper and more readily available materials over time.
23:16
But guess what, guys, They're not gonna.
23:18
I've never heard that. It's a new term for us.
23:20
We learned something. Thrift out.
23:21
That means the solar panel manufacturer will say, is there
23:26
anything besides silver I can use that is an equivalent or
23:31
close to an equivalent? But guess, think about this, do
23:34
that until the silver becomes, they're not going to, they're
23:37
like anybody. They're not going to address the
23:39
problem until the silver becomes very, very, very expensive.
23:45
What does that mean for the stack that you're looking at
23:48
right now? That means the value of your
23:50
stack. Not just in nominal terms, no,
23:53
in real terms, because of supply and demand, not just nominal,
23:59
not just, well, inflation went up 10%, so my silver went up
24:02
10%. No, I'm talking about your
24:04
silver possibly going up three or four times in value.
24:09
And then the big tech companies will say, we gotta find
24:12
something else besides silver. Silver's too expensive and we
24:14
can't find. There's no silver available
24:16
because nobody invested in silver mines over the last 10
24:18
years. Why didn't, why didn't anybody
24:20
invest in silver? Why did nobody drill for silver?
24:23
Why did nobody build new silver mines?
24:25
Because there was no money in it.
24:27
Eisenhower, right? Or what's that guy's name?
24:30
Elon. Elon.
24:35
Albert, Elon, whatever, you know OK now.
24:39
Cowbell time. OK, thank you, Susie.
24:45
Time for us to ring the cowbell. Now then we're going to come
24:47
back. OK, hold on.
24:49
Let's go back. Let's say hi to everybody.
24:51
Sorry. I know you guys.
24:53
It's good to see you. Oh, my gosh.
24:55
All 700 people on a Sunday morning.
24:57
Crazy. That's for 200.
25:01
Thumbs up. Please give this a thumbs up if
25:03
you haven't already. We have 700 people.
25:05
I think we can get 700 thumbs up.
25:07
I tell you what, at 400 today only, I'll blow the train
25:11
whistle. OK, now let's get back to the
25:13
silver squeeze. Gotta find my article and here
25:18
we go. OK, take your blood pressure.
25:23
Medicine. So this so this is more a story
25:28
over the next year or two. OK, remember this is the same
25:33
guy who said we can have extreme price action.
25:35
Now he's saying this is so this is the silver story over the
25:40
next year or two where you can see a temporary, everybody say
25:46
it with me. Squeeze on prices that could
25:51
relate to substantial gains. I want you.
25:54
I want, I want you to to write that down, OK, Over the next
25:58
year or two where you can see a temporary, All squeezes are
26:02
temporary, by the way. They don't last forever.
26:04
Squeeze on prices that could relate to substantial gains, He
26:09
said, Thank you, Mr. Golly. You made us happy on Sunday
26:13
morning because you have the courage to speak the truth, OK,
26:18
this guy. No, this is TD Securities big
26:21
money, right? Smart, right.
26:23
This is, you know, we got. All the smart.
26:26
People are calling for higher silver.
26:29
Don't forget tonight. It could get beat down
26:31
temporarily. Everything's noise at this
26:33
point. Anything, anytime we get these
26:36
like Friday noise, just noise, temporary, OK, The bottom line,
26:41
we're not going to go down the Fed path.
26:42
We're not even going to. We're not even going to talk
26:45
about this guy today, but he just wants to say hi, yes, he's
26:50
continuing to try to rip you off and and take your want you to
26:54
believe in paper money, right? But the bottom line, it's all
26:58
short term noise at this point because this thing, right, this
27:04
thing is going down in value and as it goes down in value, real
27:10
assets are are the place to be. OK, no doubt about it.
27:14
All right, there's that. Let's go to India.
27:17
Did you hear the big breaking news?
27:20
Why did India? And I've got some extensive
27:24
research, talk to some Indian people, OK, and some big, big
27:29
interesting insights into what is going on with India.
27:32
But let's go, let's go to Indian newspaper and see what they have
27:35
to say about what is going on. And don't forget, hey, I'm over
27:41
here on the side that. No, what the heck?
27:47
How do I do it? Oh, there it is.
27:48
My finger doesn't go. That's how much solar
27:52
installation. Yeah.
27:54
India put in for silver. That's silver.
27:57
That's demand for silver. Think of that as that big orange
28:01
line. Orange is my favorite color is
28:04
demand for silver. I digress.
28:06
Let's get back here. Let's go to India, see if I can
28:10
find this. Nope.
28:11
Nope. I'm gonna get.
28:14
There. Here we go.
28:16
OK. Let me fix.
28:18
Here we are. This is the Indian.
28:21
I think it's an Indian newspaper.
28:23
Sure looks like it. Here we go.
28:25
I don't know what that says. Maybe one of our viewers in
28:28
India can tell us. I cannot read that, I'm sorry,
28:31
But it says the RBI, which is the Royal Bank of India.
28:35
This is big news, guys. Shifts 100 tons of gold from
28:40
vaults in the United Kingdom, from London, England.
28:43
How could they dare do that? Call up those boys in London and
28:46
say we want our gold back to India.
28:49
All right. Interesting.
28:53
The Reserve Bank. Of India shifted around 100 tons
28:56
of gold kept in the bank vaults in the UK to its own vaults in
29:00
India. OK, they say it's for saving
29:02
storage cost. This is the first time since
29:06
1991 that India has undertaken such a large scale overseas
29:12
transfer of gold reserves. Important point #1 let's see.
29:17
Can we do math? That would be 9.
29:21
That would be 33 years. It's the first time in 33 years.
29:28
Why did India do this? Are you asking yourself, let's
29:31
get to the bottom of it, let's get to the real bottom of it,
29:34
Let's not get to the not to get to the mainstream media, let's
29:37
get to the real bottom, Economist Sanjeev Sanjao, a
29:41
member of the PM's Economic Advisory Council, said while no
29:45
one was watching. That's another interesting
29:49
thing. While no one was watching, in
29:51
the dead of the night, the Royal Bank of India shifted 100 tons
29:55
of its gold reserves back to India from the UK.
29:58
Quote, Quote. Oh, most countries keep their
30:03
gold in the vaults of the Bank of England or some such location
30:08
and pay a fee for the privilege. India will now hold most of its
30:14
gold in its own vaults. We've come a long way since we
30:18
had to ship out gold overnight in 1991 in the midst of a
30:23
crisis. Think about this.
30:26
OK, And I dug into this. The only reason India sent that
30:30
gold over to London back in 1991 was because they were in the
30:34
middle of a huge, huge financial crisis.
30:39
So what did the people in London say?
30:41
When when they they said send what?
30:43
I mean, think about it. It's so funny, right?
30:48
These these, what are they called?
30:50
Keynesian economists, these, these, these central bankers
30:55
that are like, oh, gold and silver's a pet rock.
30:58
We don't go no, blah, blah, blah, blah.
31:00
What did London say they wanted when a crisis hit?
31:04
They said they wanted the gold. They didn't say send us some of
31:08
your paper rupees or whatever they were using back then, or
31:11
send us an IOU. No, London said.
31:14
You're in crisis. We don't trust you.
31:17
We want your gold. We want your gold.
31:20
And now what? Is India now that India is
31:22
becoming an economic superpower? Right guys?
31:27
India has one point. 4 billion people that love gold.
31:31
Indian households have 25,000 metric tons of gold hidden in
31:37
their houses alone. I'm not talking about their
31:39
central bank. What we're talking about now,
31:41
25,000, that is three times the amount of gold that the United
31:46
States of America, supposedly because they won't let us see it
31:50
or touch it, even though it's supposedly belongs to you and
31:53
me. If you are an American citizen,
31:55
that's three times what we supposedly had at Fart Knox,
31:59
right? 8000 metric tons that that that
32:03
word is supposed to believe in being there, even though Oh no,
32:06
that's right, Minunskin, right? The former Treasury Secretary,
32:11
he bugged me. Not many people bugged me.
32:13
He bugs me. He bugs Bug and Bugs Bunny,
32:17
whatever bugs me, I don't care how you say it.
32:19
And he, he sent out a tweet with his girlfriend of oh, I'm in
32:23
Port Knox. The gold's here.
32:24
Oh, is that an audit? We're supposed to.
32:26
Yeah. We believe you, Minuchkin.
32:28
Right, 'cause you're from Goldman Sachs.
32:30
And we know everybody that comes from Goldman Sachs's absolutely
32:35
of the highest ethical standards.
32:37
You've proven that to us over and over.
32:39
I digress. What did India have to do when
32:42
they were in a state of crisis? They had to give their gold
32:45
away. Well, they didn't give it away.
32:47
They put it out as collateral, right?
32:50
What do they do now that they're a superbar?
32:52
1.4 billion people, one of the fastest growing economies on the
32:56
face of the earth. I know a lot of Indian people.
32:58
We had a lot in my neighborhood, a lot in Saint Louis.
33:01
My kids are friends with them. They're very driven, hard
33:04
working, honest people. Their their economies are
33:07
booming over there, OK? They want their gold back.
33:12
I'm sorry. OK, Well, here he says it right
33:14
here. For those of my generation, the
33:16
shipping out of gold in 1991 was a moment of failure that we will
33:22
never forget. This is why the shipping back of
33:26
gold has a special meaning, he pointed out in 1991, when the
33:32
country was in the grip of a severe.
33:34
Oh, I didn't. I didn't.
33:35
I said just a severe, a bad, severe foreign crisis with no
33:39
money to pay for essential imports.
33:42
All right, here we go. Hold on.
33:44
Everybody have a drink of coffee with me.
33:55
The Royal Bank of. India has, like other central
33:58
banks, been buying gold, the safe haven asset.
34:01
The strategy of holding gold is what did you guys know?
34:03
This primarily aimed at hedging against inflation and reducing
34:07
foreign currency risk. Interesting, especially in times
34:12
of uncertainty triggered by geopolitical tensions.
34:15
Again, as far as I know, this is from an Indian newspaper.
34:20
I have no idea what that says. It looks like up upside down
34:23
writing to me, but none the less, I'm sure it has something
34:27
going on. All right, let's get back here.
34:31
Wow, 800. Of us.
34:33
Thank you, basement dwellers. This is huge.
34:36
You know, this is the best community and it's because of
34:38
you. I was talking to a friend of
34:40
mine this morning, right? And I was like, it's it's not
34:43
Ron tube. It's YouTube.
34:44
These people that come and join that's you.
34:46
Wherever you are in the chat, tell us where you're from.
34:50
We love to hear like all the different places.
34:53
Silvershire's here. Good to see you, Silvershire.
34:56
I had something funny to tell you.
34:58
You Silvershire had sent me. Hold on.
35:00
Well, I'll just have to verbally tell you.
35:03
Silvershire had sent me a list of the gold to silver ratio
35:07
throughout history. I kept it on my desk for the
35:10
longest time. I was cleaning off my desk
35:11
yesterday. I crumbled it up and threw it
35:13
away. Sorry, Silvershire.
35:16
But then today I was thinking about making a video about that
35:20
and I had to go dig it out of the trash can.
35:22
So there's going to be a crumpled up piece of paper in an
35:24
outcoming upcoming video. I really again, when you guys
35:28
send me articles, information, I can't respond to everybody, but
35:32
I look at everything and it helps come together, gives me a
35:35
feel for what you're interested in and what you're interested in
35:38
is important. What's even more important is if
35:41
you're willing to share your thoughts, your ideas in this
35:44
comment section. Look at Hester.
35:47
I had a girlfriend in college named Hester from South Africa
35:51
and my great grandpa's from South Africa.
35:54
Wow, nice to see you here Hester.
35:56
Thank you for being here. I digress.
36:00
Let's talk about the little known facts, a little known fact
36:04
about silver, and I'm digging into this one, but I'm going to
36:07
give you a preview right now because I actually heard Rick
36:10
Rule say this. You know, you know the whole
36:13
story on silver. God, how many times have we
36:16
heard it? If we hear one more time that
36:18
central banks are buying gold, which is great, awesome.
36:21
It's all good stuff, right? And also all the uses of silver
36:25
artificial intelligence, you know, solar panels.
36:29
But Rick Rule brought something up.
36:32
I heard him say this about six weeks ago and it really piqued
36:35
my curiosity. And maybe you guys have some
36:37
great information on this as well.
36:40
But nobody talks about how silver has massive and we know
36:44
it's used in medical. I'm not talking about medical,
36:47
although it's somewhat related in sanitation purposes.
36:51
Things like water filtration. I'm telling you that is like the
36:56
sleeper area because I want you to think about something.
36:59
What's the one thing? Well, what are a couple things
37:02
you need to? What are a couple things you
37:04
need to live right? You need to eat, you need to
37:08
breathe. That's very critical.
37:10
Probably air is number one, but what's #2 right?
37:14
Would it be eating? Would it be love?
37:16
Would it be being part of a community like a basement
37:18
dweller here on a Sunday morning?
37:20
What else? What's the second most important
37:22
thing that you likely need? Water.
37:25
Clean, fresh water and silver can play a critical in the
37:29
world. Like we were just talking about
37:31
India, 1.4 billion people, China, 1.4 billion people.
37:37
They all you need water. I need water.
37:39
They're likely gonna need silver to help purify this water.
37:43
As the world's population grows, as the world is more and more
37:47
people, there's a weird thing going on in China and India.
37:50
Very weird. Somebody needs to talk to of the
37:54
guys that are running the Bidenomics plan about this.
37:56
The middle class is expanding in India.
37:59
There's more and more people. They want better quality food.
38:02
They want better quality water. They want electricity.
38:07
I'm going to show you one more time quickly.
38:10
I had no, no intention of showing this graph.
38:12
They want electricity, OK, That is silver demand.
38:18
That's not solar. It is solar, but guys, that is
38:22
that is silver demand, that is India importing over 1.2
38:31
million, right? No, I'm sorry, 120 million
38:34
ounces of silver in the first quarter of this year, OK.
38:39
The other thing that's crazy about the solar thing that
38:42
nobody talks about, right, is the big benefit to solar
38:47
electricity is it's immediate, right?
38:49
They build those panels, they can stick, put them on a house,
38:52
plug it in. Bingo, bango.
38:54
You got electricity. Congratulations, right?
38:58
They can build a solar farm. Bingo bango.
39:00
You know how long it takes to build a nuclear power plant?
39:03
Takes like decades, OK. And and we're not building coal
39:07
plants. We're not building and I don't
39:08
care. I don't you can get mad at me
39:10
about this if you want. That is silver demand and it's
39:14
immediate. It's an immediate electricity.
39:17
It's immediate. There's no waiting.
39:19
There's no digging up coal and Bah, Bah, no, the sun's there,
39:22
baby, Right. You hook it up, you run the
39:25
wires and bingo, bango, you got it.
39:27
OK. Where was I?
39:29
I was. Talking about something else
39:30
when I got Oh yeah, silver and water purification.
39:33
They're going to want electricity.
39:35
There you go, silver, they're going to want clean water. 1.4
39:39
billion people in India alone. How many people are in the
39:43
United States of America? 330 million.
39:45
They got like four times as many people in India alone.
39:49
China, right? Shanghai, they have 1.4 billion
39:52
people. I mean, the populations of these
39:55
two countries combined is like 10 times that of the United
39:59
States or nine times that. So let's go briefly, briefly
40:05
look at what's going on in the water.
40:10
Oh, this comes from. Our friends at the Silver
40:12
Institute, I know there's a lot of suspicion about the Silver
40:15
Institute, right? We're not going to look at any
40:18
numbers they put out here. But let's look at water
40:20
purification quickly because none of we don't give this
40:24
enough credit, OK? Millions of water purifiers are
40:28
sold each year. Think about China and India,
40:30
let's say billion. And inside many of them, silver
40:34
prevents bacteria and algae from building up in their filters so
40:39
they can do their job. Silver ions are being added to
40:44
water purification systems in hospitals, community water
40:48
systems, pools and spas. Silver also helps prevent
40:52
Legionnaires disease. You know, that's I had no idea
40:55
what Legionnaires did. We, we took the family to the
40:57
Great Wolf Lodge. Well, anyway, I better not go
41:01
there. Which can cause by build up in
41:03
pipes, blah blah blah. Waterborne illness is a major
41:07
problem in developing nations. Again guys, think back what?
41:13
What's besides besides love, which I hope you're feeling some
41:16
this morning 'cause I love you and I really appreciate you
41:19
being here right now. So you got that check right?
41:21
We need air, yes right. Think about that.
41:24
You're alive. You probably have breathed in
41:26
the last few seconds. Food's important, but you can go
41:30
like if you watch that show on TV, my kids love it.
41:33
Naked and Afraid, Susie loves it too, and I kind of like it.
41:36
It's fun to watch. You can go like 3-4 weeks
41:39
without food, no problem. You can then, and then you get
41:42
so hungry that you'll eat anything.
41:44
These people eat snakes, they eat whatever, but what's the
41:46
first thing they need on Naked and Afraid?
41:49
They need water, right? And they boil it.
41:52
Somebody needs to give them some silver.
41:53
If I go on naked and afraid, I'm bringing along some silver, like
41:56
I brought silver. But nonetheless, they need
41:59
water. OK, so it's a big deal.
42:02
The full extent to which silver can help treat the issue of
42:05
clean drinking water, it's yet to be seen, but ongoing research
42:10
is showing its usage to be an exciting development for the
42:14
global water supply. What's, you know, the global air
42:19
supply is really important, but also #2 right behind it is
42:23
global water supply and. Bingo.
42:27
Bingo. They need silver.
42:30
On a separate note, what I thought was very, very
42:32
interesting. I gotta ask you guys a question.
42:34
Do you know what milk spots are? I bought these coins a couple
42:38
years ago. They're I love.
42:41
Let's see if you can see that. Can you see that?
42:46
Anyway, this is 1/2 ounce Canadian coin and I opened them
42:51
up there. You can see right next to that
42:52
white thing, right behind her head, you can see those white
42:55
dots. There's one at the top, these
42:57
milk spots. And I was like, I got all upset.
43:01
I talked to coin shop Chris and you know, I guess like Canadian
43:04
coins get milk spots and I, is it just me?
43:08
But then I thought, well, that kind of stinks.
43:11
Excuse me, hold on, let's go get a drink of water.
43:22
But I'm gonna I have. AI have a very unpopular opinion
43:25
about milk spots. Then I was like, you know what?
43:28
Because he's like, yeah, people don't want coins with milk
43:30
spots. I'm like, well, wait a minute,
43:32
wait a minute. I can see into the future and I
43:36
think 20 'cause there were like three years where certain coins
43:39
from certain men's got milk spots.
43:41
I could see like, what are the most popular stamps in the
43:45
world? Think about it.
43:46
They're ones that have like printing errors on them.
43:48
What are the most popular, some of the most popular expensive
43:51
coins, ones where there's like a mistake on the coin?
43:55
Well, I think at some point, right?
43:57
So in 20 years, I said there, see that, hold on, it's right
44:03
here. Right there.
44:06
It's like a spot. I think these are.
44:09
Going to actually be more valuable.
44:11
I'm starting, I'm, I'll go out on a limb and say it.
44:13
People are going to be like, Oh yeah, people got, you know,
44:17
melted down the coins with milk spots.
44:19
I think they're going to be more valuable.
44:21
I'm glad I have milk spots. I digress.
44:25
Interesting. Silver.
44:27
What else can silver be used for?
44:29
Let's let's dig into one more. Oh wait, we got more.
44:35
OK, hold on here. This is so cool.
44:37
You guys are here with me this morning.
44:40
Here we go. I didn't know this.
44:41
Eight states are. This is from 2021.
44:44
Breaking news. Eight states are seeding clouds
44:47
to overcome mega drought, but there's little evidence that
44:51
it's working. I'm going to tell you.
44:52
Oh, look at that, man. That's that.
44:55
Looks like Saint Louis last Sunday where our minivan got
44:58
totalled in a hailstorm. Yes.
45:02
Anyway, the mountain tops rumble with life unnaturally each year.
45:06
Snow, clouds, dark in the sky across the West.
45:08
This is about silver. This is a story about silver.
45:12
It's unbelievable everything silver is used in.
45:15
Open flames burst from the throats of metal chimneys
45:18
mounted on squat towers nestled among the peaks.
45:21
Whatever that means. With a low hiss, puffs of
45:24
particles belch from their mouths into the air, where the
45:29
wind catches them and whisks them away.
45:31
What do you think those particles are that they're
45:33
talking about? Well, they're not.
45:36
Ordinary particles. Basement dwellers, they're tiny
45:40
bits of crushed up silver iodide, a crystal like
45:45
photosensitive substance once used in photography.
45:49
Now if you're as old as me, back when I first got into silver
45:53
back in the 90s, gosh, or you know, anyway, a long time ago,
45:58
that's what people always said, like silver's used in
46:00
photography, silver's. And well, now it's like that's a
46:03
very minimal usage because everything's digital, but
46:05
nonetheless. OK, so it's the same type
46:09
crystal like photosensitive Subs that once used in photography.
46:12
And it's they're using it in cloud seeding.
46:15
It's meant to make snow. The crystalline silver iodide
46:19
particles have a structural structure similar to ice.
46:23
And inside a cloud, like to attract likes attract like water
46:27
droplets begin to cluster around the particle, freezing solid as
46:30
they gather together. Yeah.
46:32
OK, nothing that just one more interesting use for silver.
46:36
All right, guys, thank you for being here today.
46:39
Thank you for being part of the basement.
46:40
Thank you to our channel spot. Excuse me.
46:44
Susie's yelling. Oh, Susie wants me to go.
46:48
OK, you know what? We'll do the crazy charts of the
46:50
week. Basement dwellers.
46:51
I got more for you. Oh, you're going to be shocked
46:54
when you see this because it has everything to do with silver and
46:57
gold. Let me let me check in with
46:59
Susie. Thank you, Susie.
47:06
Let's ask Susie A. Question, Susie.
47:09
Yes. Have I been being nice to you
47:15
lately? You've been pretty.
47:20
Good. What do you mean by pretty?
47:21
Good. OK, thank you.
47:28
All right, let's go to the crazy charts.
47:30
All right, guys, here we go Oh, have I shown you this chart 16
47:36
times already? That's not the crazy chart.
47:39
Let's go to this Oh, I didn't that's Oh yeah, no, did we see
47:42
this? This was the other one.
47:45
All right, comex futures. This was like a week ago Volume
47:49
171,000 contracts of 5000. Hey that's 800 this is one day
47:56
last week 855,000,000 ounces of paper make believe silver traded
48:04
in one day. Guys there is no question that
48:08
this manipulation on the comex the LBMAI think is even worse is
48:14
going on. Don't forget the bolts that hold
48:16
the silver at the LBMA. I'm going to do this off memory.
48:20
Have like I think like I read like 800 million oz.
48:23
But like 500 million of those are are claimed by the SLVETF.
48:29
So they have like 300 million. But then I'll bet 300 million.
48:33
A lot of that is claimed by private owners, right?
48:36
Like this guy Dolly's telling us, this silver market is in big
48:40
steep trouble. Massive steep trouble.
48:44
Here we go. There's the premium, comparing
48:47
the premiums for silver in Shanghai over what we're paying
48:52
at the COMEX, almost $4.00 per oz.
48:55
It's going to be crazy interesting tonight to see what
48:59
happens in the Shanghai market with the silver price after what
49:03
happened here on Friday, OK. Four more we're.
49:07
Going to blow the train whistle all.
49:10
Right, let's. Get to it.
49:11
That's my friend. Yeah, that that that this chart
49:14
is just showing us the amount of gold that has been discovered
49:18
since 1990. This comes from our friends at
49:21
First Mining Gold, also a channel sponsor.
49:24
You can learn more about them at firstmininggold.com.
49:26
That's also a stock that I hold, but I'm not giving financial
49:29
advice. OK, I'm going.
49:32
To blow the train whistle here in a second, guys, look at the
49:34
amount of gold that has not been discovered in recent years, OK?
49:38
And look how the amount of money being spent is going up, up, up.
49:43
And oh, I didn't never talked about this.
49:46
And I'll bring the train whistle.
49:47
This is about the economy. This is pending home sales.
49:51
OK, look, it's collapsed and nobody's talking about this.
49:55
But guys, look, this was the great financial crisis.
49:59
Look how low it was. This was 2020.
50:03
I'm sorry. Yeah.
50:03
I don't think you can see my pointer. 2008, 2009, financial
50:07
crisis got down to what, 70? What is that?
50:11
Probably 78,000. I would imagine during the
50:16
during the pandemic, it got down to just over right about 70.
50:20
Look where we are. We're back at like almost all,
50:23
well, according to this chart, all time low levels this, this
50:27
economy that we're in right now. I unequivocally am standing by.
50:31
My current big prediction is that before the election we're
50:36
going to have some flavor and who knows what they'll call it.
50:41
Of economic. Doom be prepared, OK, be
50:45
mentally prepared, be monetarily prepared.
50:48
And when that happens, it's going to be Katie bar the door,
50:52
right? It's going to and this next it
50:56
everything's coming to a head. That's all I can say at this
50:59
point is that it that's Kohl's stock crash right on Friday
51:04
because Kohl's is saying, hey, we don't nobody's buying stuff
51:07
at Kohl's anymore. All right, guys, it's time for
51:10
the train whistle from Don the brain.
51:12
Our big man in the state next door gave me this awesome train
51:16
whistle. I'm going to wring it.
51:19
I'm going to blow it four times. And there's actually a chart on
51:23
here that says what the whistle means.
51:26
So we're going to do flag man protect the rear of the train,
51:30
which will be one long and three shorts, and then I'm going to
51:34
bid farewell to you all. Right guys, protect your.
51:45
Rear have a great day be nice to yourself.
51:48
Thank you so much for being here.
51:49
Don't forget to check out our sponsors pin backs if you're
51:52
wanting to get yourself some gold, silver, platinum, group
51:55
metals pin backs.com find out for yourself, do your own due
51:59
diligence and of course, our mining company sponsors First
52:03
Mining Gold and Fortuna Silver mines.
52:07
Have a great day. Thank you for being here and
52:09
I'll see you soon.