Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **SILVER ALERT** Moody's Downgrades USA & Fed Fibs

Transcript

**SILVER ALERT** Moody's Downgrades USA & Fed Fibs · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
It's not looking good. We're going to talk about silver
0:04
and gold, but we can't do that without recognizing that we've
0:08
got big, big trouble here in the United States.
0:11
As a matter of fact, Moodies, the big investment, the big
0:15
rating agency, put out a note on Friday cutting the outlook for
0:20
the debt of the United States. But I've got some information
0:24
for you. New numbers that are just
0:26
absolutely staggering. Guys, this is real.
0:30
This is a real big problem, and we're getting news that the
0:35
world is starting to recognize it.
0:37
We're gonna cover it all in this video.
0:39
I appreciate you being here. All 100 people on a Saturday
0:43
night. That is awesome.
0:44
Please. Look, you're smart.
0:47
You're important. Please leave a comment in the
0:49
comments section. If you have questions, ask
0:52
questions. It's a big deal.
0:53
You're here and your thoughts matter.
0:56
That's how we learn is from each other.
0:58
I haven't been telling you that enough.
1:00
Leave some comments. Okay, We wanna hear from you.
1:03
Please participate in the comments and the chat.
1:06
Now let's dive right into this information, the big update that
1:10
we're going to do on the silver and gold markets, but also scary
1:14
situations that are unfolding right now all around us.
1:18
OK, OK, we had a little bit of a rough week.
1:20
Let's recap that quickly for silver and gold.
1:24
But let's not forget, guys, gold is only down 3% from 2000
1:30
dollars. 1940 is $60.00 down and that's 3% of 2000.
1:36
We're still within striking distance of this new all time
1:40
high. By the end of the year, silver
1:42
took it a little harder on the channel.
1:44
OK, I know you're probably like me, I'm more of a silver guy,
1:47
but silver's only down 3 to 5% from its recent high, so nothing
1:52
for us to get too crazy worried about.
1:55
I want to touch briefly on this silver surplus situation.
1:59
It's getting a lot of traction. Have you heard that people are
2:02
selling their silver? People are selling, selling and
2:05
the price of silver is going to go down Because every everybody
2:08
selling it. Well, I want to give you some
2:10
context. Don't believe all the hype.
2:13
Yes, there are more people that are selling silver right now
2:17
because the economy is so cruddy.
2:19
It's it's called the Bidenomics effect.
2:21
People have to sell their valuables just to pay their
2:25
bills. But nonetheless, it's important
2:27
to remember two key things, #1, the retail silver bullion
2:32
market, it's important. That's me and you.
2:35
We're important, right? Us fellow basement dwellers, no
2:38
doubt about it. But the reality is we're just
2:41
one smaller segment of the total silver demand picture.
2:47
So we we focus on what's going on at the coin shops and the
2:50
online bullion dealers. But the reality is the big
2:53
picture for silver is much larger than US industrial
2:56
demand, defense industry demand, solar demand, the
3:00
electrification of the planet in this new source of demand that
3:04
we're just starting to hear about, the artificial
3:07
intelligence wave that's taking over the world will require much
3:12
more silver as well. So when you hear all this, what
3:16
I might call fear mongering about, oh, there's a surplus of
3:19
silver. There's a surplus of silver
3:21
that's just in this little segment where we operate.
3:25
The other thing to remember is that the silver market,
3:28
especially on the retail bullion side is very, very delicate,
3:33
very sensitive. It doesn't take a lot for it to
3:36
get knocked into a shortage. Remember the silver shortages we
3:40
had not just too long ago, right?
3:42
It's easy for silver to go into shortage.
3:45
But also the other side of that coin is when it flips, it's easy
3:49
for it to go into a retail bullion surplus situation.
3:54
So don't get too excited about it.
3:56
Yeah, sure, we know we and we don't.
3:59
We know, we know eventually there's not going to be a
4:05
surplus of silver. There's going to be a shortage
4:08
of silver. At least that's my opinion.
4:10
Don't make any financial decisions based on anything I
4:13
share with you. But I think we're going to see a
4:16
day where there's a silver shortage like we've never seen
4:19
before. I need to gulp down a little
4:21
coffee. We've had a long day on the road
4:22
today. Sorry for that, my friend.
4:30
Uh. Oh, somebody found the hot dog.
4:32
Good job, Tony. I think that's your second time.
4:35
I stuck it in there just to see if anybody would notice.
4:39
Right. Hey, look, I've got a sloth on
4:41
my shoulder, Sam. Yeah.
4:44
Anyway, let's move on. We got a lot more to talk about.
4:48
Yes, these markets, the silver market, my friends, can
4:50
vacillate from shortage to surplus on the retail bullying
4:55
side. But the big picture, right, we
4:58
know there's a silver shortage coming like nothing we've ever
5:02
seen before. So we'll hold tight.
5:05
Don't get feared mongered off by all this.
5:08
Oh, there's premiums are down. That's good.
5:10
Premiums are down. The price is still pretty
5:13
reasonable. Maybe now's a good time to buy
5:15
some silver. I'm not telling you what to do,
5:18
but if you do want to buy some silver, don't forget to check
5:21
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5:26
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6:05
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6:10
Now let's move on. We got a lot to cover and I got
6:13
a short time to get there. We're going to do it though.
6:16
We're going to do it. Let's talk about the other risk
6:19
that's going on right now out there in the market.
6:21
And then we're going to talk about this big Moody's
6:23
downgrade. And I'm going to share with you
6:24
some data about the national debt and interest.
6:28
That is really guys scary, OK? This is not fear mongering.
6:33
This is numbers. This is reality.
6:36
I have a degree in accounting from a top flight university.
6:39
I understand numbers, right? Like a musician can read music
6:43
sheets. I can read financial statements.
6:45
I'm telling you, what we're going to talk about should put
6:48
shivers down your spine. We're not going to knock your
6:53
socks off, but we're going to put shivers down your spine.
6:56
OK, hold the basement doors. Let's talk about political risk
6:59
first. Have you noticed?
7:01
Do you get the feeling like we just spent a week down in Gulf
7:05
Shores with my wife and my mom and dad and let's just say I was
7:11
exposed to a lot of CNN, the Children's News Network and
7:16
MSNBS, MSNBC, whatever it is, and Fox News and it's just
7:23
absolutely #195% of what's on there is BS.
7:28
I'm convinced of that. Okay.
7:30
I would not. I feel sorry for people that sit
7:32
there and watch hours and hours of that.
7:38
Just utter BS. But there is such political
7:42
contention in this country. It's a big risk.
7:45
OK, the Democrats first, the Republicans.
7:49
We've got prospects of another government shutdown, OK?
7:53
We've got former president on trial, Donald Trump, and we have
7:58
a potential impeachment of our current president.
8:01
I mean, what the heck is going on?
8:04
We're supposed to be like the most powerful leading country in
8:07
the world and it's a clown show. More about clown shows in a
8:11
second, but it is an absolute clown show and a bunch of
8:15
corruption. But I won't go down that, OK,
8:18
but here's a big key that we need to remember, especially
8:21
when it comes to money printing easy money this next year.
8:26
And it's only what next 11 months and two weeks until the
8:29
next election is going to be downright chaotic from a
8:34
political contention perspective.
8:37
I mean, guys, I don't know if you watch it, but I was forced
8:41
to at least passively watch what's going on with this
8:46
hatred, vile hatred on both sides.
8:49
And it's absolutely How can we claim to be the most powerful
8:53
country in the world? And now we're moving into an
8:54
election cycle. I don't know what's gonna
8:57
happen. I mean, it seems absolutely
8:59
crazy. These people on both sides are
9:02
very passionate that I'm not making any political statements.
9:05
I'm just saying from a from a from a perspective of stability
9:11
in this country, from a perspective of being able to get
9:14
anything done in this country, I just don't see it happening.
9:19
It seems like people are just divided more than ever before.
9:23
But don't forget, we're heading into an election year.
9:28
The current president will like other past presidents.
9:33
I'm not saying anything bad about by Dynamics, it's working
9:37
or anything else along that line.
9:39
But he will do whatever he can to juice the economy, just like
9:44
they did before the midterm elections.
9:46
They drained all the oil out of the Strategic Petroleum Reserve
9:50
to get gas prices down. Right.
9:52
Because during an election year, they want everybody to be
9:55
feeling good about the economy. Right.
9:58
So they're going to, they're going to juice it and juice it
10:01
all they can. The only way they can juice it
10:04
is with Unicorn. Hey, thank you.
10:05
Snakebite. Thank you.
10:07
Hey, thank you for the Super Chad.
10:08
Wow. Always appreciated.
10:12
Never expected. Yes.
10:14
I'm staying at the fancy. This is the Best Western.
10:17
Plus, I need a lot of money to support this lifestyle, I tell
10:22
you. Anyway, thank you and all
10:24
seriousness, Snake Bite super chats are always super
10:27
appreciated, but they're going to juice it this year.
10:29
They're going to juice it and juice it.
10:31
And we're heading into some crazy, crazy times politically.
10:35
It will create uncertainty. It will be supportive for gold.
10:40
The uncertainty will be supportive for gold and silver.
10:43
The uncertainty will, will, will, will usher in right as
10:49
they want to move us through this year feeling good.
10:53
It's going to be more dilutive to the US dollar on top of
10:56
everything else that's going on in the world right now.
10:59
What else happened this week? We can't.
11:01
I'm going to put it to bed, but I don't know how you feel about
11:04
this. But guys, if you've been, if
11:06
you're an investor in silver and gold like I am, precious metal
11:10
mining stocks, the number one problem we've had for the last
11:15
two years is the Federal Reserve, Not so much what
11:18
they've done. Yeah, they did raise rates to
11:20
5%, OK, But really more what they say.
11:25
And they did it again this week. They rolled out the clown show,
11:28
Jerome Powell, right. The the, the head, head,
11:31
whatever you want to call him. And they rolled out all those
11:34
little Fed governor clowns and they all gave a bunch of
11:37
speeches talking about how they're going to be hawkish.
11:40
And that's what caused the downturn that we experienced.
11:44
The dollar went up, rates went up and that caused the dollar,
11:49
I'm sorry, gold and silver to go down.
11:52
Let me just write this down the clock.
11:53
The circus came to town, right? They can only raise rates.
11:58
If they're going to do anything, they're only going to be able to
12:00
raise rates in nominal terms, not real terms.
12:05
I wrote this down because it was so powerful, and this is
12:07
original from me, because the Fed needs inflation higher than
12:12
interest rates. the Fed needs for inflation to be higher than
12:18
interest rates. There's no other way.
12:21
There's no other way that the system continues than to keep
12:27
inflation higher than interest rates.
12:30
I mean, real inflation, not the fudgy BLS numbers, OK?
12:35
If they can do that, they've got a fighting chance, OK, Of
12:40
sustaining the system, of perpetuating the current system
12:44
a little bit longer. But they're going to talk a
12:45
bunch of BS. They're going to talk like, oh,
12:47
we're we're fighting inflation. We want to get inflation, you
12:51
know? Do you think they're fighting
12:52
inflation? I was at Walmart last night.
12:54
OK, OK, to return something at the Walmart before we left and I
12:58
was talking to the lady there and she was telling me this is
13:01
crazy. OK, this is the Walmart grocery
13:04
store in Orange Beach. She tells me I was talking to
13:06
her because she brought me over to the self checkout area to
13:09
give me my little refund. She said I need to bring you
13:11
over here. I'm like do people like like
13:14
like Rick, people like the self checkout, like forget the scan
13:17
things and whatever. She was like, oh, she said
13:20
people just walk out. And she said, you know what,
13:23
Once they get through the door, we can't do anything about it.
13:27
I'm like, what? How?
13:28
I mean, does that happen that often?
13:30
She said prices go up. It feels like every single day.
13:35
This is the Walmart grocery store in Orange Beach, AL, she
13:39
said. It feels like like every day
13:42
where we we watch this, prices go up and up, she said.
13:45
And it feels like people are getting more desperate and
13:47
people are getting more brazen and this is a nice part of town.
13:50
She said people will just walk out the store.
13:53
And I said, well then, do you chase them?
13:54
No, she said we can't chase them.
13:57
I said, do you call the police? She said no, we can't even call
14:00
the police. She said we can try to stop them
14:03
before they get out the door, standing in front of them and
14:06
asking them to please pay for their groceries.
14:08
This is a true story. I was like, what?
14:11
What is this world coming to? And how did I get on that story
14:14
anyway? I mean, I'm like, and I said,
14:16
but then we all have to pay more.
14:18
She said, yeah, that's the way it works.
14:21
That's the way it works. OK.
14:23
I forgot why it was inflation. Inflation.
14:26
OK, Don't believe the Fed. We're gonna wrap it up on that.
14:29
the Fed talk this week. They they they don't do
14:32
anything. We watch what they do.
14:35
We don't. Thank you, Tony, for the Super
14:37
chat. We don't listen.
14:39
We don't listen to them. We watch.
14:41
And what they've done is a bunch of nothing.
14:43
Burgers. Can you say nothing Burger?
14:46
Huh. Leave me.
14:48
Tell me in the comments. What do you think?
14:50
Do you think the Fed's going to raise rates more or do you think
14:53
they're done? I say done.
14:55
OK, you can think whatever you want.
14:57
I want you to engage. OK.
14:59
That's important. Please leave a comment.
15:01
We'd love to hear what you think.
15:03
That's our Maybe you could teach me something.
15:05
Trust me, there's a lot I need to learn.
15:07
But to me, the Fed is done. DONE.
15:12
We can't listen to what they say.
15:14
And that's what they do. They roll out the clown show.
15:16
They do it every time. And they say, oh, we're gonna be
15:19
tough. We'll be.
15:21
Hey, thank you Shadow Work and thank you for your great e-mail
15:24
earlier. Also I'm going to share
15:25
something that Shadow Work sent me in a future live stream, Very
15:30
interesting. I love the some of the things I
15:32
learned from you guys. So thank you Shadow Work and
15:34
thank you for the Super chat. But you know they're done.
15:37
They're done. I don't I I couldn't be wrong.
15:39
And if they do raise rates, the only reason they're going to
15:42
raise them is if inflation, they're going to keep inflation
15:45
here and they're going to keep rates about here.
15:49
So if, if, if inflation goes up way up here, well, then they'll
15:52
bring it up a little bit. But they're never going to get
15:55
the rate over here, all right? They're never going to get that
15:58
above the inflation. They're going to keep inflation
16:01
a little bit higher because that's mathematically the only
16:04
way the system works. Now we got other big risk.
16:07
I'm going to cover them. Then we're going to talk about
16:08
Moody's downgrade. This is scary.
16:11
OK. Geopolitical risk.
16:14
We can't ignore the fact that we still have two wars going on
16:18
right now, 22, the Middle East and Europe.
16:22
Unbelievable. Does that blow your mind if I
16:25
told you five years ago that, that in five years we're going
16:29
to have two wars that we are involved with?
16:32
I don't care what anybody says. One in Europe and one in in, in
16:35
the Middle East, Big wars. I'm getting worked up.
16:45
OK, that's going on. And just briefly to touch on
16:51
geopolitically because we haven't talked about bricks.
16:53
Remember back in the summer, bricks was the biggest thing
16:55
going. It still is the biggest thing
16:57
going. Don't forget in less than two
16:59
months you have Brazil, Russia, India, China, South Africa.
17:03
I can say the BRICS countries faster than anybody, but who's
17:06
joining the BRICS? Huh.
17:07
Huh. You got Iran, United Arab
17:09
Emirates, Egypt, Argentina, Ethiopia, and one more I can't
17:15
even think of, darn it. Well, anyway, they're growing
17:19
like crazy. Did I say Egypt?
17:22
Anyway, they're growing. The world is.
17:24
We have two wars going on. We have the bricks, right?
17:27
Everything. We have political internal risk
17:32
in the United States. And then on top of that, we got
17:35
the world bifurcating. So we got the United States
17:40
imploding, and then you have the world that's split in saying
17:45
sorry. We don't want anything to do
17:46
with you. Now.
17:48
This is where it gets super interesting.
17:50
This is where it gets even scarier.
17:52
Do you? I I am scared for my kids.
17:57
I was telling my dad that we're on vacation.
17:59
I'm like, it's a scary situation that they're going to be moving
18:03
into. My daughters are 11, OK?
18:05
Because there's financial risk now just on a on a micro level,
18:10
on a smaller level you get the banks, commercial real estate,
18:14
their U.S. Treasury holdings.
18:15
They're they're loans that they have out, the companies that are
18:19
zombies that can't pay credit card debt.
18:22
People are defaulting on their credit cards, car loans and
18:26
people. A lot of people have card loan
18:28
payments over $1000. We've got, like, the highest
18:31
rate of car loan default since 1996, so the banks are in
18:36
trouble. But that's not the scary part,
18:38
OK? I was listening to a guy who I
18:40
have huge respect for. Huge, huge respect for.
18:44
OK, Michael Gentilly, super smart guy tonight.
18:48
And he brought up this point, guys.
18:50
OK, this gets real. This effects if you live in the
18:54
United States and probably Canada and any other western
18:57
country, it gets real right now. Oh, we got 100.
19:00
We got 100. You know what?
19:01
Here, you know what I'm going to do Quench up.
19:04
Chris is going to kill me. But I'm going to ring 10 times
19:08
the gold in Buffalo. All right, there we go.
19:15
Silver Buffalo. Sorry, this gets real.
19:18
This gets really real at 5%, and we're at 5% interest rates, OK,
19:24
$300 trillion worth of debt in the world.
19:29
That's not, that's, that's crazy, Unbelievable.
19:31
We're just going to focus on the United States right now. 34
19:35
trillion in debt and growing. OK, 34 trillion and growing.
19:41
And it's ourfriend.com.com. Don likes to point out a
19:45
trillion is 1,000,000 * 1,000,000.
19:50
That's just one trillion. And there's 34 of them.
19:54
Do you have a million yourself? Imagine that million a million
19:59
times. That's a trillion.
20:01
Imagine that 34 times. That's the amount of money your
20:04
country owes. That's not that's that's that's
20:08
that's spine tingling enough. But thank you, Cliff.
20:14
Wow. Thank you, my friend.
20:17
That is awesome. Thank you for the Super chat.
20:20
But it's growing. OK, And the scary part.
20:24
The scary part? Is all that debt rolls over in
20:28
the next three to four to five years, meaning it all has to be
20:32
refinanced. It's an adjustable rate mortgage
20:35
type situation, right? Janet Yellen, who failed to
20:40
refinance all the debt when the rates were at 0% now has to
20:44
refinance it all at 5%. So in the next three to four
20:48
years, just on the 34 trillion that we have alone, we could be
20:53
facing 1.7 trillion per year in interest expense.
21:00
Just interest expense. Just interest expense.
21:03
Oh, it's just a trillion, right? 1.7 trillion?
21:08
No, because in 2022 the United States government brought in
21:13
total revenue of $5 trillion. That means that if that number
21:19
remains roughly the same, what if we have a big recession and
21:24
that goes down. But let's just say the
21:26
government continues to bring in $5 trillion per year.
21:30
That means like 35% of the money that the government brings in,
21:36
they're going to be shipping out just to pay the interest alone
21:41
on the national debt. But the national debt is growing
21:45
at the same time. So the number could be more like
21:49
we're at. We're at that stage where where
21:52
it's become a spiral and it's self feeding and it's getting
21:56
very, very scary. And who's starting to wake up?
21:58
The world is starting to wake up.
22:00
This is where it gets real, guys.
22:03
OK, I'll just throw out a couple more quick points for you.
22:07
When Trump took office. And I'm not saying anything good
22:10
or bad about Trump, not a political show.
22:12
But the fact is that when he took office, our government's
22:15
interest expense on an annual basis was $300 million.
22:20
Three, 100 million. Remember, now we're looking at
22:23
that being as high as 1.7 trillion just in the next few
22:28
years. And it just did pass 1 trillion
22:31
per year. OK, who's going to fund the debt
22:34
bench? the United States debt bench,
22:36
Because in the past the Saudis funded it because of the Petro
22:39
dollar. We won't go down that rabbit
22:41
hole. The Chinese funded it because we
22:43
were buying all their cheap plastic stuff.
22:46
That's not happening anymore. The Russians would buy U.S.
22:50
Treasuries. Well, you know they're not
22:51
buying them, right? Because they've been
22:53
confiscated. The reality is nobody's buying
22:57
them. And that's why central banks are
23:01
now buying. What?
23:03
What are central banks buying? Gold.
23:06
And you know what's good for gold is good for silver and good
23:08
for platinum and Palladium for that matter, as well.
23:11
That's why central banks are. The central banks have woken up.
23:14
They're like, we don't want the dollars.
23:17
We we know the math. We can do basic math.
23:20
You're in big trouble, America. We don't want U.S.
23:23
Treasuries. We don't want to buy U.S.
23:25
dollars. But they don't know what else to
23:27
buy. They're not buying Bitcoin.
23:29
They're not buying. You know, no, What are they
23:32
going to buy? They're going to buy what's been
23:33
the most stable form of value throughout not just centuries,
23:38
millennia. Gold, gold, gold And with gold,
23:43
silver. OK, that it's like the Big
23:47
Brother and the little brother. That's what's going on.
23:50
OK, so nobody wants to buy it. And what other proof do we have
23:55
when one of our own internal rating agencies, just on Friday,
24:00
let me read this to you. Moody's cuts USA's AAA rating
24:03
outlook to negative and the Treasury Department disagrees.
24:08
Janet Yellen disagreed with that assessment.
24:12
Well, go imagine that, OK? Who could have seen that coming?
24:16
This comes from Zero Hedge after a a disastrous guys, this is a
24:20
big deal. If there was a on Thursday, a
24:23
disastrous bond auction, a collapse in Treasury market
24:28
liquidity, OK, nobody wants the Treasuries and an accelerating
24:34
rise in the market's perception of the United States.
24:38
Credit risk. Moody's Moody's has just cut its
24:43
outlook on US credit rating to negative from stable.
24:48
Now I'm going to teach you something about treasuries
24:50
because you got to realize the debt market is 3 times the size
24:54
of the stock market. It's a big deal.
24:56
Most people don't realize that. I didn't realize that till
24:59
several years ago. But the debt markets are way,
25:02
way, way bigger. And I'm going to teach you
25:04
something that I didn't know and I'm going to share it with you
25:07
because that's what we do. I'm encouraging you leave a
25:10
comment in the comment section. Please give this a thumbs up
25:13
that helps get the word out to more and more people.
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26:02
OK Now what do we what? You know the treasury market.
26:07
It's like a lot of us know a little bit about the stock
26:09
market. Did you know this?
26:11
I found this interesting. So I would always hear this.
26:14
What's the difference between AT bill AT note and a treasury bond
26:20
AT bill? Like a bill that's due is less
26:23
than one year that it'll will mature.
26:26
AT note is shorter than 10 years.
26:29
I honestly did not know that a treasury bond is anything longer
26:35
than 10 years. So it's like your bank bought
26:39
bought a 30 year treasury bond back two years ago.
26:42
They paid like 1 1/2%. That's a treasury bond.
26:45
It's not not going to get paid off in full until 30 years.
26:50
Now if your bank wants to sell that same treasury bond that
26:53
they got it 1 1/2%, now that rates have gone up, it's worth
26:56
like $0.60 on the dollar. I digress.
27:03
This is from Bloomberg. This is this.
27:06
This is scary. This does not paint a pretty
27:09
picture for your children and my children and or grandchildren.
27:15
The key driver of the outlook change this is when Moody's
27:19
downgraded to negative Is Moody's assessment that the
27:24
downside risk to the US fiscal strength have increased.
27:30
Downside risk? the US fiscal strength have
27:33
increased and may no longer be fully offset by the sovereign's
27:40
unique credit strengths. What they're saying is they got
27:45
big financial risk in the United States and basically our unique
27:50
position of being the world's superpower when it came to
27:53
finances is eroding and the gig is up.
27:59
That's basically what they just said.
28:01
This is Moody's, I guess they're from the United States.
28:04
Honestly, I don't know. I know they're one of a Western
28:07
you. You know, this gets them in big
28:10
U.S. government, by the way, when they actually tell the
28:13
truth. But that's what they're supposed
28:15
to do. They're supposed to give an
28:17
honest assessment of what is going on out there.
28:20
Ron is good at thank you. Oh, hey, Susie.
28:24
What are you doing here? I thought you were.
28:28
No. Anyway, not going to say that.
28:29
I've learned that as I've grown older in marriage, I often times
28:33
99.9% of the time. I'm best off keeping my lips
28:37
shut. Anyway, it would be like, oh,
28:40
here, this is what I said, OK, it'd be like, if you make 60,000
28:43
a year, let's say you make 60 grand a year.
28:46
OK, 70. All right, whatever, $70,000 per
28:50
year. And you had a $400,000 mortgage,
28:54
a $40,000 truck loan, F-150 truck loan and 100K in student
29:02
loan debt. You, your credit rating would be
29:05
downgraded, right? That's what Moody's did to the
29:08
United States. They're looking at this and
29:10
saying guys, just like Michael Gentilly said earlier, you got
29:14
34 trillion in debt. It's growing.
29:17
That 34 trillion will probably be 40 trillion lickety split.
29:22
We're within spitting distance of getting 40 trillion in debt
29:26
and interest rates are higher. The United States government is
29:29
on this path. They're having to spend every
29:32
penny that it gets in just to pay interest on their debt.
29:37
I mean, if this trajectory will be in that position in like 12
29:40
years, four months from now. So it's no wonder.
29:44
Again, it's like you being in your own personal situation and
29:48
having gotten into too much debt, you're going to get
29:52
downgraded if you go to the bank, right?
29:55
And then think of the bank like the Treasury market, right.
29:59
The Treasury guys, it's a big deal that on Thursday it was a
30:02
disaster. They tried to auction off
30:05
treasuries and people were like in, in very short, a very brief
30:09
synopsis as people said no thank you, We're not real crazy about
30:15
the situation. You've gotten yourself into
30:17
United States government, right? That's the Treasury market.
30:21
They went out to the Janet Yellen, went out begging for
30:24
money and people basically said we have some concerns.
30:28
It's the same thing if you went to the bank with that situation
30:33
I described earlier, you got a 400K mortgage, you got 40 KF,
30:38
150 loan, you got yourself a you got yourself a bunch of other
30:42
credit card debt, Best Buy and wherever else you like to hang
30:46
out. And I know, like Chris, the Coin
30:48
Shop, Chris likes HomeGoods and those kind of stores, right,
30:54
j.crew, whatever, you know. Anyway, then you go to the bank,
30:58
you say I need to borrow some money.
31:00
That's like the treasury market. They're going to say we don't
31:03
like the way your situation looks.
31:06
We don't feel comfortable giving you money.
31:08
But when you get things straightened out, come back and
31:10
see us, We'll be glad to help you.
31:13
Or or what gets really scary is the bank could say, well we'll
31:18
give you a little bit more money but now it's going to be it.
31:22
A much higher interest rate. Guys, it doesn't look pretty out
31:25
there for the United States. It's I I love this country.
31:28
I was born here. I didn't make.
31:31
I don't have any debt. I hate that.
31:33
I have hated that since I studied accounting at DePaul
31:37
University and learned how money worked and realized debt is
31:42
evil, right? It works against you now in
31:45
certain circumstances, if you can use it to grow a business
31:48
temporarily. Absolutely.
31:52
But for personal consumption, it's a freaking nightmare.
31:56
And that's what our country, that's what our leaders did.
31:59
I love the country, but I'm scared.
32:01
And I I think that you should be, too.
32:04
I think more of our fellow Americans should be really
32:07
scared about this situation. But they don't talk about it on
32:11
MSNBC. All they talk about is Trump or
32:15
they don't talk about it on CNN, and they don't talk about it on
32:19
Fox. All they talk about is Biden.
32:22
I'm not, this is not a political show, OK?
32:24
But that's the reality of the situation.
32:27
Nobody cares. Everybody's asleep, OK?
32:30
Michael Gentilly just pointed that out to you and me. 34
32:34
trillion in debt and it's growing.
32:37
It's going to be 40 trillion. Look, I'm going to make a video
32:39
every day for the rest of my life.
32:41
It's important to me that you're here because together we're
32:45
going to get to watch our United States government go to 40
32:48
trillion in debt and we'll get older together.
32:51
And you have a friend, There's a lot of great people here in the
32:53
basement, and you can become a fellow basement dweller.
32:55
I mean, come on, please subscribe and give the thing a
32:58
thumbs up. But it's ugly.
33:03
And here's the Super scary part, the the debt goes to 40
33:07
trillion, OK, OK. And then?
33:11
And then the market will dictate, hey, we don't work now.
33:16
Now the rates go up to 891020 with the rate goes to 10% on 40
33:22
trillion. That's 4 trillion.
33:24
And if we hit a recession and the government receipts go from
33:28
5 trillion to 4 trillion, all we're doing is spending money,
33:33
every penny that comes in, to pay interest to people we owe
33:36
money to. Are you kidding me?
33:39
Who got us in this position? It is downright scary.
33:43
Or, and this is all good, this channel's about silver and gold,
33:47
but it's all good for the value, the real value of silver and
33:54
gold precious metals. Absolutely.
33:57
Because if that situation were to unfold like that and it's
34:02
going to, I mean or it's very likely to, I don't have a
34:06
crystal ball. But mathematically we continue
34:10
on this path. That's what we're heading to,
34:12
OK. I mean do you think Joe Biden is
34:15
suddenly tomorrow or Monday morning going to come out and
34:18
say, you know what, America, now that it's a year before my
34:21
election, I think we need to cut expenses and balance the budget.
34:26
When's the last time you heard anybody talk about balancing the
34:28
budget? No, right.
34:30
Well, it's going to continue. It's going to continue, right.
34:34
And when it gets to that point of 40 trillion at 10% interest
34:37
rates, that's called yield curve control.
34:40
That's when we become like Japan.
34:43
That's when the Fed says, well, I guess since we're beholden to
34:48
the United States, we'll just print a bunch of more Unicorn
34:52
fart dust money and the Fed will buy the debt.
34:56
It becomes then like the biggest smoke and mirror money dilution
35:03
situation in the history of the world.
35:05
And and here's the reality, guys, this has happened in
35:09
history. I know it seems like it's never
35:11
going to happen, right? But this same situation has
35:15
played out multiple different ways.
35:18
Maybe a little nuances in each one.
35:21
But it's happened many times over history, and it only
35:24
happens. It's interesting.
35:26
It's this only happens when when countries take themselves off
35:31
the gold and silver standard where their money is no longer
35:35
tethered to anything real. OK, that's the only time it
35:39
happens. It looks like it's going to
35:41
happen again. Here I'm scared, right?
35:43
There's some other smart people who are scared.
35:46
I know you and you are, and I are scared as well.
35:49
It in the end, right the wrap it all up here in the end, no
35:54
matter how it unfolds. OK.
35:57
No matter how it unfolds, whenever what they do, it
36:01
doesn't matter, right? It's like trying to sail a boat
36:05
in a hurricane or something like that.
36:07
It doesn't matter. The value of silver and gold
36:10
will prevail. That I know to be a fact.
36:13
Hey, I appreciate you joining me tonight.
36:16
I'll be back in the actual basement here real soon.
36:19
My cousin Ricky's been watching the house.
36:21
He says everything's great. The basement's doing great.
36:26
I'm going to have him kind of clean off the table top.
36:28
So I'll look forward to seeing you guys again soon.
36:31
Again, thanks for being here tonight.
36:33
Take care of yourself. Have a great weekend.
36:35
OK. And I will see you soon.
36:39
Don't forget, when you get a chance, check out
36:41
www.ronsbasement.com. Thank you.
36:44
Bye, bye.