Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 BUCKLE UP Precious Metals Stackers! 🚨 - THIS Is SERIOUS (Silver and Gold Price News UPDATE)

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🚨 BUCKLE UP Precious Metals Stackers! 🚨 - THIS Is SERIOUS (Silver and Gold Price News UPDATE) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  Buckle up, basement dwellers, we got a lot of interesting and
• 0:04
  downright scary things to talk about in this special Saturday
• 0:09
  Night Live stream. You thought things were bad
• 0:12
  before the war in Iran? They were right.
• 0:16
  The economy was slowing, things were getting difficult.
• 0:19
  Things have gotten even more critical.
• 0:22
  But it all feeds back into gold and silver and how they will do.
• 0:26
  Well, they will, right? Probably give us returns that we
• 0:30
  can only dream about in the coming months, quarters, years
• 0:35
  and decades. There's a lot going on.
• 0:37
  Oil is a big, big part of what we're going to talk about today.
• 0:41
  And why while oil may seem a little boring, it's actually one
• 0:45
  of the big drivers of what's going to keep us in good favor
• 0:50
  with the gold and silver gods as we move into these coming years.
• 0:54
  And we're talking about a potential decade of good strong
• 0:59
  returns in the gold and silver sector.
• 1:01
  But forget about decades. Let's figure out what's going on
• 1:05
  right now because we're in a bit of consolidation in the precious
• 1:09
  metal sector. Let's go out and see what the
• 1:11
  price of gold is right now on Saturday Night Live here in the
• 1:16
  basement. We're going to go out the Yahoo
• 1:19
  Finance. What we're looking at here guys,
• 1:21
  is called Tether gold. I'm going to circle it in the
• 1:25
  upper left corner. OK.
• 1:27
  That is the cryptocurrency that tracks gold.
• 1:31
  It's tokenized gold. Don't call it cryptocurrency,
• 1:34
  call it tokenized gold. Each one token represents 1
• 1:38
  ounce of real physical gold in a vault in Switzerland.
• 1:42
  So this has become the way that people track the gold price.
• 1:46
  And we're going to look at silver next over the weekend.
• 1:49
  And as you can see, the gold price, we're looking at a 24
• 1:53
  hour chart. I'm circling and that in the
• 1:55
  lower left corner, the gold price is actually gone down, but
• 1:59
  nothing crazy, nothing significant in the last 24 hours
• 2:03
  we went from oh about 5005 down to 4995 S Gold is going down,
• 2:12
  but what about silver? Let's put in K.
• 2:16
  You can do this yourself now, kag.
• 2:19
  OK, uh oh, that's not pulling it up.
• 2:22
  Hold on here. Here it is right here.
• 2:24
  OK, that's the Kinesis Silver. Wow, this is incredible.
• 2:29
  OK, I saw this before I came on. But what we're seeing in the
• 2:33
  silver market now, you know, this is not as liquidly traded
• 2:38
  as gold, but it looks like KAG has skyrocketed, as you can see.
• 2:44
  Again, we're looking at one day. All right.
• 2:48
  And this is silver U.S. dollars, OK, USD in KAGKAG in U.S.
• 2:57
  dollars and yeah, we were right, you know, bouncing around this
• 3:00
  level, right around the $80 range.
• 3:03
  And just in the last, this happened right before we came
• 3:06
  on, the silver price took off. Now KAG is not as big or as
• 3:12
  liquid as XAUT, the gold product that we looked at.
• 3:17
  But if that holds for some reason somebody's buying a lot
• 3:21
  of. And again, that's tokenized
• 3:23
  silver. So real physical silver that's
• 3:26
  audited at 1 oz for each token in a vault somewhere in the
• 3:31
  world held by a Kinesis vault. It's audited I think on a
• 3:35
  quarterly basis. So that's how we track the
• 3:39
  silver and gold price now over the weekend.
• 3:41
  That's the the becoming the generally accepted way because
• 3:45
  the COMEX doesn't trade, the LBMA doesn't trade.
• 3:49
  You know, there's your local coin shop or those markets in
• 3:52
  China. We're going to get to those
• 3:53
  markets in China here in just a little bit.
• 3:56
  But we got our oil is getting critical and it will be fuel,
• 4:00
  right? Well, if if these oil prices
• 4:03
  keep up, guys, we're going to see rate cuts.
• 4:05
  We're going to see money printing.
• 4:07
  We're going to see all types of shenanigans.
• 4:09
  And there's even speculation that the US government is now
• 4:13
  intervening in the oil markets. But let's go and listen to Jeff
• 4:17
  Curry. He was the head of commodities
• 4:19
  at Goldman Sachs for years and years.
• 4:21
  He has some scary things to tell us about what is happening right
• 4:25
  now in the gold market. And let's make sure we get the
• 4:29
  right screen up for you. Here we go.
• 4:33
  This is about one minute long, but this paints a very dire
• 4:37
  picture. And we'll talk about what that
• 4:39
  means for gold and silver. Here's Mr. Curry.
• 4:41
  You believe that even if there's a ceasefire tomorrow, right now,
• 4:45
  the next 5 minutes, the world's changed the policies of the
• 4:48
  crude, what's changed? For one, you've disrupted global
• 4:51
  supply chains. This is not just a disruption
• 4:54
  oil, it's gas, it's fertilizers, it's metals, it's
• 4:57
  petrochemicals. The list goes on and on.
• 4:59
  And then you've disrupted supply chains in countries all over the
• 5:02
  world. The ships are in the wrong
• 5:03
  places. The insurances have been
• 5:05
  cancelled. You've taken the pressure out of
• 5:08
  the fields that you shut in, in places like Saudi Arabia or
• 5:12
  Iraq, or even in the UAEI can just the list goes on and on.
• 5:17
  The damage is going to take months to unwind, but but I I
• 5:20
  want to bring it to the immediate.
• 5:22
  There is no policy response that can stop this ascent and crude
• 5:27
  none and yes, you've paid this 400 million barrel headline flow
• 5:31
  rate is what matters. You know, the maximum
• 5:34
  sustainable flow rate is 2 million barrels per day, so 400.
• 5:38
  That'll take them 200 days to get that out.
• 5:42
  And you put that in the context of a disruption of, you know,
• 5:45
  let's net it out of this. It's got to be somewhere around
• 5:48
  18,000,000 barrels per day right now.
• 5:50
  You're just a minuscule in terms of offsetting it.
• 5:54
  So again, I there's not many options here.
• 5:57
  OK, guys, It's not looking pretty in the oil market.
• 6:01
  And Please remember, oil is the lifeblood of the world economy.
• 6:06
  We are in a scary situation and the cat is ice.
• 6:09
  We said this three days back while us basement dwellers,
• 6:13
  right? Oh, and by the way, thank you
• 6:14
  for being here, right? There's only one you.
• 6:16
  You're important. We appreciate you joining us
• 6:18
  down here in the basement as a basement dweller.
• 6:21
  Please, you can join the club. Press the subscribe button,
• 6:26
  leave a comment in the comment section.
• 6:28
  Give this a thumbs up so we get the word out to more and more
• 6:31
  people in super chat. Super thanks are never expected
• 6:35
  but always appreciated, especially from our lovely Co
• 6:38
  host who's not home right now, but I think she may join us
• 6:41
  later. The one and only upstairs,
• 6:44
  Susie. But the cat's out of the bag.
• 6:46
  We're always talking about stuff before it's on CNN and CNBCI.
• 6:50
  Think that was from Bloomberg. But the the cat's out of the
• 6:54
  bag. Like this can't just be reversed
• 6:56
  immediately, OK. And we were already in bad shape
• 7:00
  in the world economy. That's the inflation rate.
• 7:03
  The economy was already slowing down.
• 7:05
  The inflation rate was already much higher than those good
• 7:09
  people at the Bureau of Labor and Statistics like to tell us
• 7:12
  that it is. And now this oil shock in the
• 7:15
  world. And it's really bad in China.
• 7:19
  OK, We're lucky in the United States.
• 7:22
  Excuse me. And it's really bad in Europe as
• 7:26
  well. The big key take away is that
• 7:30
  the cat is out of the bag. The ship has sailed, which is a
• 7:33
  bad pun, I guess you would say, because the Strait of Hormuz is
• 7:37
  closed. We don't like it.
• 7:39
  We don't like what's going on, but we're not going to like put
• 7:42
  our head in the sand like we're in the Middle East and ignore
• 7:46
  what's happening. This is real.
• 7:48
  This is happening now. And there's something major
• 7:51
  we're going to talk about here in a little bit when it comes to
• 7:55
  what's going on with oil in the dollar that could change our
• 7:59
  lives forever and make us very, very grateful that we, I'm
• 8:04
  presuming you also have chosen to protect yourself with
• 8:10
  precious metals investors. That's a tongue twister.
• 8:13
  But Speaking of China, well, you know we're gonna go to China.
• 8:16
  I got some stunning video to show you how to China before we
• 8:19
  do that right now, right? Proof that that oil does relate
• 8:25
  to silver because there is big speculation, quote, UN quote,
• 8:31
  that the US government might be intervening or put putting
• 8:37
  downward pressure on the oil market, just like we've
• 8:40
  experienced with silver. We're like, hey, hey, Reuters,
• 8:45
  oil's not the only thing. Wait till you get a A.
• 8:49
  And this actually comes from Reuters that's bringing this up.
• 8:53
  Here we go. OK, the Gregory Brew paper
• 8:56
  traders. OK, this war will be over soon
• 9:00
  and price will fall. Physical traders, a barrel of a
• 9:04
  United Arab Emirate oil is now worth $140.00.
• 9:09
  So there's this big outrage out there that people are saying,
• 9:13
  oh, the paper price of oil is, is way lower in that in the
• 9:18
  United Arab Emirates, apparently, according to
• 9:20
  Reuters, the price of 1 barrel of oil for physical oil, this is
• 9:25
  where it gets interesting, is $140 per barrel going to Asia,
• 9:30
  whereas on the paper the, the Nymex market, it's $100.
• 9:36
  And they're like, well, that's a fake price.
• 9:37
  And people are speculating that there's maybe some government
• 9:42
  intervention going on or some tamping down to the price.
• 9:46
  Not that we wouldn't be used to that being in the silver market,
• 9:51
  but it's interesting. And they're calling out the
• 9:53
  Nymex, The Nymex this just so we keep it all straight.
• 9:56
  This is the same family oil is traded on the New York
• 10:00
  Mercantile Exchange or the Nymex.
• 10:03
  Nymex. Interestingly, the Nymex is over
• 10:09
  the Comex where, where silver and gold are traded, but they're
• 10:14
  all part of the parent company of them all the Nymex and the
• 10:18
  COMEX and the Nymex runs the it's a little confusing is the
• 10:22
  CME, the Chicago Mercantile. It's all one part of one big
• 10:26
  family. And we know.
• 10:28
  And it's just crazy now that people are saying, oh, oil's
• 10:31
  being the paper price of oil is fake.
• 10:33
  We're like, wow, that sounds familiar.
• 10:36
  That's just kind of like the fact that on the COMEX in the
• 10:38
  United States, silver's trading for 80 dollars an ounce, while
• 10:42
  in China on their physical market, it's trading for $10
• 10:47
  more per oz. And if you go to buy it in the
• 10:49
  actual market, it's more like 15 or $20 per oz more.
• 10:53
  So very, very interesting. But let's go take a look at
• 10:56
  what's going on in China. Are these people lined up right?
• 10:59
  Wait till you see this footage to buy silver.
• 11:02
  Let's check this out. Or is there something else going
• 11:06
  on? And here we go.
• 11:09
  Make sure I got that up for you. Yes, I do.
• 11:12
  Gas lines. These are gas.
• 11:13
  Oh, but wait, there's more. I got more for you.
• 11:16
  Don't worry. Gas lines in China.
• 11:17
  Grok has verified this video below is real.
• 11:20
  Thousands of Chinese drivers lining up at gas stations.
• 11:24
  This shows how crazy things are for oil and gas in Asia.
• 11:29
  Asia imports a lot of their oil, OK, before new price increases.
• 11:34
  This is what things look like in the United States during the oil
• 11:37
  shock of 1973 and 1979, when gas was rationed and drivers could
• 11:43
  only gas up on alternative days based on the last number of
• 11:47
  their car's license plates. I was like 9 years old.
• 11:50
  I remember waiting in gas lines. But look at this guy's.
• 11:53
  This is amazing. I'm going to put that on full
• 11:55
  screen. So ask this, are these people,
• 12:04
  are they lined up in China just to fill their, I mean, is that a
• 12:10
  Taylor Swift concert? Is that a bullion shop in
• 12:15
  Singapore? Bullion Star?
• 12:16
  I mean, wow, those are not happy people in China.
• 12:24
  But of course, OK. Uh oh, hold on here, hold on.
• 12:28
  I'm coming back. Little tech issue.
• 12:30
  Hopefully you can see me and hear me.
• 12:32
  Of course, right. When we talk of China, we ring
• 12:35
  the gong because gongs are from China and we know they're going
• 12:41
  a little crazy over silver and gold.
• 12:44
  So I we couldn't look at gas station lines without checking
• 12:48
  in on what's going on in the market from our man on the
• 12:51
  street. Here's some video for you from
• 12:54
  the date Mr. David Lee. This is from the Shenzhen Shubai
• 12:59
  Gold Market today, Saturday, 314 Pi Day.
• 13:03
  Happy Pi Day by the way. I live in the 314 area code.
• 13:07
  They really make a big deal out of it.
• 13:08
  Anyway, the discount provided by Western paper markets like we
• 13:14
  just talked about is highly appreciated by the Chinese
• 13:18
  consumers. And let's check in with our man
• 13:21
  on the street and hear what he has to say.
• 13:27
  What's the Shenzhen Hold on, Somebody tell those people they
• 13:35
  need to go get in line to buy gasoline.
• 13:37
  Not joking, actually, that's kind of sad.
• 13:40
  But that's, that's what people are are are doing.
• 13:45
  That's what's going on in the gold and silver market in China.
• 13:47
  There's also a big rush as well. Did you hear what he just said?
• 13:58
  He said they should those, they, these people should have
• 14:02
  listened to the basement dwellers from Ron's basement and
• 14:05
  got their gold and silver earlier.
• 14:10
  OK. All right, All right, let's move
• 14:13
  on, guys. OK, Now this is this next
• 14:17
  subject we're going to talk about is dead serious.
• 14:20
  It's one paragraph that literally could change our
• 14:23
  lives. Any of us who live in the United
• 14:25
  States in particular, but in all the Western countries, this is
• 14:30
  huge, massive news and I will explain to you why.
• 14:33
  Before I do that, I want to say thank you to channel sponsor
• 14:37
  first meant they're the silver specialist mint in Las Vegas,
• 14:42
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  mint.com. OK, thank you first Mint, for
• 15:46
  sponsoring Ron's basement. Now, I hate to have to talk
• 15:49
  about something so serious, but this is truly serious.
• 15:53
  We got one paragraph to read together.
• 15:56
  They can change everything. Let me pull it up without
• 15:59
  further ado and because this is getting a ton of attention, and
• 16:05
  here we go. A senior Iranian official
• 16:09
  reportedly told CNN on Friday that Tehran is considering
• 16:15
  allowing a limited number of oil tankers to pass through the
• 16:20
  Strait of Hormuz. That's the choke point for all
• 16:22
  the world's oil causing all these problems.
• 16:25
  OK, but here's actually the one sentence, 9 words that can
• 16:30
  change everything. Only if the cargo is traded in
• 16:36
  Chinese yuan. We're going to come back to
• 16:39
  that. That guy's changes everything.
• 16:41
  It says the proposal, which is not yet been formal, been
• 16:44
  formalized. It's official policy follows a
• 16:47
  blockade of the Strait of Hormuz that began on March 1st.
• 16:51
  This move is seen by analyst as a direct challenge to the
• 16:57
  petrodollar system, which has historically underpinned global
• 17:02
  energy trade in U.S. dollars. While CNN reported the quote
• 17:06
  blah blah blah. Why is this a huge deal?
• 17:09
  Because the Petro dollar, the dollar has been packed, been
• 17:12
  backed by oil for what, the last 52 years?
• 17:18
  Since about 1974? Remember, in 1971, President
• 17:22
  Richard Nixon temporarily took the United States off the gold
• 17:26
  standard and we never went back. OK, was a horrible thing.
• 17:30
  I cried. I was one year old.
• 17:32
  I think I was crying a lot then anyway, but you get the point.
• 17:34
  It's, it's and the dollar is lost 98 point 3% of its value
• 17:39
  against gold since that occurred.
• 17:42
  But the fact that now the Petro dollar is officially it was
• 17:46
  already right. The world was already moving
• 17:49
  away from the US dollar. World central banks already own
• 17:52
  more gold than they do U.S. Treasuries.
• 17:55
  That just flipped. That's a huge deal.
• 17:57
  Countries were beginning to buy oil and trade oil and other
• 18:01
  currencies outside of the US dollar, but we really did still
• 18:05
  have pretty much a chokehold on the the Middle East.
• 18:09
  If this goes through, it would be devastating, absolutely
• 18:14
  devastating for the US dollar. I'm not rooting for it.
• 18:17
  I live in the United States, but it's the reality of what is
• 18:22
  going on right now. How does the Petro dollar work?
• 18:26
  When we took the US dollar off the gold standard 1971, shortly
• 18:31
  thereafter, Henry Kissinger went to the Middle East and persuaded
• 18:37
  the Arab countries to only sell oil in dollars.
• 18:42
  The deal was you sell oil in dollars, right?
• 18:46
  You sell U.S. oil, we give you dollars, You take those dollars.
• 18:51
  You enjoy some of them for yourself, of course, but you
• 18:54
  reinvest a lot of them in U.S. Treasuries.
• 18:58
  It allowed the United States. That's why we were able to run
• 19:01
  up this incredible amount of debt, which we're going to look
• 19:05
  at later on the US debt clock, right?
• 19:08
  That's how the dollar, The dollar was essentially.
• 19:11
  That's what the Petro dollar means.
• 19:13
  The dollar was backed by oil because most men of the world
• 19:17
  traded in oil and they had this thing called the GCC, the Gulf
• 19:21
  Cooperation Corporation Corporation, I don't know
• 19:24
  whatever, where a bunch of the Middle East countries.
• 19:27
  That is huge. If that goes through, the value
• 19:31
  of the US dollar, even in nominal terms, is going to be in
• 19:36
  big, big, big trouble. OK.
• 19:39
  So that right there is something that we need to keep a very
• 19:43
  close eye on because it can have ramifications like nothing
• 19:47
  that's happened. Scott Percent, the US Treasury
• 19:50
  Secretary, right, recently said that there's going to be some
• 19:54
  type of big reset. We watched that video yesterday.
• 19:57
  He said it two years ago and he said he thought it would happen
• 19:59
  sometime a new Bretton Woods. I mean, things could get crazy
• 20:06
  if they're able to to to really challenge the Petro dollar and
• 20:11
  have the and have the oil traded in yuan.
• 20:15
  In the yuan being backed in some ways by gold.
• 20:19
  I don't know guys, it could get very, very interesting.
• 20:22
  I know it's kind of deep to think about and and really is
• 20:26
  kind of a doom and gloom scenario, but the world is
• 20:30
  changing and it's changing right now at A at a pace like we've
• 20:33
  never seen before. All right, let's do some updates
• 20:35
  on what's happening on the charts with gold and silver.
• 20:39
  Another that doom and gloom, but it's not looking much better
• 20:41
  there. Remember, though, we have $80
• 20:44
  silver and we have $5000 gold. Let's all take a deep breath.
• 20:49
  And if we consolidate whatever, it's going to be fine.
• 20:52
  Let's go out to our friend Rashad and see what he's showing
• 20:55
  us on. Uh oh, hold on here, Hold on.
• 21:01
  There we go. Yeah.
• 21:02
  OK. Rashad, update on the silver
• 21:05
  chart, Silver's massive 4 month triangle formation is going to
• 21:08
  resolve higher. We love your optimism, Rashad.
• 21:12
  Markets or those who run markets, this is key all right,
• 21:16
  always test your conviction before taking the right
• 21:21
  direction. Meaning they always scare people
• 21:23
  the bull bucks off as many people a bull market.
• 21:27
  That's why they call it a bull market because a bull will buck
• 21:30
  off as many people as possible. And we've we know what it's like
• 21:35
  right to ride the silver bull. It's it is crazy, but let's look
• 21:39
  at this chart and I want to kind of show you where we are right
• 21:42
  now. This is that massive triangle
• 21:46
  that he's talking about, OK, Which went back, what did he
• 21:49
  say? Three months, Four months.
• 21:51
  OK, Now, guys, the reality is we have broken down.
• 21:55
  Hold on here. Hold on.
• 21:57
  Let's get rid of that, OK? We have broken out a little bit
• 22:03
  to the bottom of that, just a little bit, OK?
• 22:06
  And as you can see, that happened back here as well.
• 22:09
  I remember that. You remember that scared us to
• 22:12
  death, but we are in a critical zone right now.
• 22:16
  Like really things are getting critical.
• 22:19
  But I believe I'll go with Rashad, right?
• 22:21
  The other big thing to remember is that we went into this
• 22:25
  triangle with major upward momentum and typically when you
• 22:30
  move through a triangle right on a time basis, the the resulting
• 22:36
  move will be based on the momentum that you went into the
• 22:40
  triangle with no guarantees. I'm not a financial advisor.
• 22:43
  Don't buy or sell any gold, silver, stocks, bonds, mutual
• 22:46
  funds, don't get married, adopt A puppy, don't do anything based
• 22:49
  on what I say, but that is a fact.
• 22:52
  The other thing is that we still have the 200 day moving average
• 22:57
  which is supporting this move. The other thing that we have
• 23:01
  that I think we need, we need to address with what is happening
• 23:05
  in these markets right now is the dollar index.
• 23:08
  We have gone through a period where the dollar index is done
• 23:13
  very well. Actually look at that was over
• 23:16
  100. We thought those days were over.
• 23:19
  OK, the dollar has been strong. Just on Friday we had a that's a
• 23:24
  massive move in the dollar index.
• 23:27
  But what I want to point out to you about this dollar index is
• 23:30
  Please remember, OK, it's just a comparison of crappy currencies.
• 23:36
  It's compares the dollar to the euro, the yen, the Swiss franc,
• 23:40
  a bunch of Fiat currencies in 100.
• 23:43
  OK, where we are right now on his, I got to show you, I'm
• 23:47
  sorry, is, is a is strong on a historic basis.
• 23:51
  You know what, hold on. Another way to think of the
• 23:53
  dollar index is, is, is like a teeter totter, right?
• 23:58
  Like the dollar, let's say you get the dollar on one side and
• 24:00
  the euro on the other and in the middle there's that.
• 24:03
  It's called a fulcrum. I think it is that middle part
• 24:06
  or like my microphone, I got to ring the gong get anyway and the
• 24:11
  dollar might go up, the euro go down, the euro goes up and it's
• 24:15
  a whole basket of currencies. But you get my point.
• 24:17
  But the key thing to remember is, is this teeter totter is
• 24:21
  going up and down that fulcrum. It's not on a solid base of gold
• 24:27
  or silver. No, that fulcrum is literally on
• 24:31
  crappy soil or, or quicksand. So is the dollar and the euro or
• 24:36
  about, you know, whatever. The whole thing in real value is
• 24:40
  going down. I hope that makes sense.
• 24:43
  That can be a little hard to to compute.
• 24:46
  If you don't get it now, don't worry, you'll get it eventually.
• 24:49
  Some of these concepts took me a long time to understand.
• 24:53
  OK. But that's what's going on with
• 24:54
  the dollar. Now the other we got, we got to
• 24:56
  look at it because this is fun. I love looking at this on the
• 25:01
  dollar index chart. We're going to go and we're
• 25:04
  going to not instead of looking at the dollar index, no, I don't
• 25:07
  want to join your whatever. We're going to look at it on
• 25:11
  like a 50 year all time basis. We're going to go all the way
• 25:16
  back to no, I don't want to subscribe.
• 25:19
  Hold on here, hold on, let me get rid of that.
• 25:24
  How do I get rid of that? There we go All right now we're
• 25:27
  back little tech issues. That's OK, we make it through
• 25:32
  OK. This goes all the way back to
• 25:33
  the 1980s. So that would be what, 15 like
• 25:37
  40 years? This is like at least 40 years
• 25:40
  of data that we're looking at right now.
• 25:42
  If we draw a line at 100 on this chart, as you can clearly see,
• 25:48
  even though it's, it's the it's, it's the the, the the best horse
• 25:52
  in the glue factory comparison, as we can clearly see on this
• 25:58
  chart, we have we are still high.
• 26:00
  There's 100 right there. OK, here we, you know, just in
• 26:04
  the last few years right here, we were above 100.
• 26:07
  In this period right after your Y2K, we were above 100.
• 26:13
  But what's so interesting to realize is that from this period
• 26:18
  here down to this period here, I'm going to say it everyday,
• 26:23
  OK, when the dollar index went down, which is I think the most
• 26:27
  likely move that we'll have in the future, during this period
• 26:33
  right here, I'm going to circle it in green.
• 26:38
  The price of silver went from under $5 to $50 per oz.
• 26:47
  Yes, a more than 10X move. OK, so I think from a chart
• 26:52
  perspective, things are getting dicey.
• 26:54
  Look, here's the other thing. If even if with silver right now
• 26:58
  at $80, Oh my gosh, what if silver goes to 70 people?
• 27:02
  What we're what, what the probably the worst case scenario
• 27:06
  that we could see is silver going to $64.
• 27:09
  I listen, I read all the charts, I listen to all the smartest
• 27:12
  people, $64 is really a big line in the sand, guys.
• 27:18
  Even if we consolidate there for a month or two or three or four,
• 27:23
  it's OK because what we are building now and it's in the
• 27:27
  process right now is the is the world's most epic of solid base
• 27:32
  of, of, of holders of silver who are going to ride this out to
• 27:37
  the end. OK.
• 27:38
  It's going to be, I think it's going to be an absolute,
• 27:41
  absolute beautiful next number of years and decade for the
• 27:45
  silver price. Let's take a look at what's
• 27:49
  going on in in the market as well.
• 27:51
  The overall silver and gold ecosystem quickly, because the
• 27:55
  mining stocks, if you're like me and own some precious metal
• 27:59
  mining stocks, they have been absolutely battered over the
• 28:04
  last two weeks. This is incredible.
• 28:06
  OK, we are right now looking at, I'll circle it for you there in
• 28:10
  the upper left corner, the GDXJ. This is the ETF that tracks.
• 28:15
  It's a group of junior gold. This is gold, gold mining
• 28:19
  companies. But what's crazy about this is
• 28:22
  that in the last two weeks, it's gone from 1:57 to, as you can
• 28:26
  see on your screen, just to the right of that red circle 124.
• 28:31
  So it was at $157 and now it's at 124, down more than 20% in
• 28:37
  two weeks, OK, in two weeks. However, what I want to point
• 28:42
  out to you is that when we look at this chart, I think we can
• 28:46
  still see solid signs of, of, of upward trend.
• 28:52
  OK, Now let's go look at the silver miner version of this and
• 28:58
  then we got a lot more to talk about.
• 29:00
  This is the SILJ, which again is the ETF that tracks the junior
• 29:06
  silver mining companies. I'll circle next to it for you
• 29:09
  this time. As you can see, it closed at
• 29:12
  $31.34 on Friday, but it has gone from 41 dollars right here
• 29:22
  2 weeks ago all the way down to 31.
• 29:25
  That is like a 23 1/2 or 24% decrease.
• 29:30
  However, again, when we look at this chart, I think we need to
• 29:34
  remain optimistic. If we draw some long term trend
• 29:39
  lines to some of these lows, we are still you know we still I
• 29:43
  believe have some solid support available from this trend line
• 29:49
  right here. But it'll be interesting but but
• 29:51
  but you know, we'll keep an eye on it.
• 29:54
  OK, more big news and there is so much to talk about in this
• 29:59
  big news is big time good for the gold and silver market.
• 30:03
  Before I do that, I want to say thank you to 1st Mining Gold
• 30:06
  right there for sponsoring Ron's basement, their development
• 30:10
  stage gold company with two huge multi million ounce projects in
• 30:15
  Canada, Spring Pole in Ontario and Du Parquet located in
• 30:20
  Quebec. Guys, big multi million ounce
• 30:23
  gold deposits in good jurisdictions like Canada are
• 30:27
  extremely scarce. You can learn more about First
• 30:31
  Mining Gold at their website firstmininggold.com.
• 30:35
  Three years ago, basement dwellers, we sat down here and
• 30:38
  talked about what could be the rocket fuel.
• 30:41
  Rocket fuel for the silver. Let's get pumped up, huh?
• 30:45
  What do you say? Don't forget to subscribe, by
• 30:47
  the way. Rocket fuel for the gold and
• 30:50
  silver price. Remember this box, huh?
• 30:52
  Many of you remember it. If you're new, you don't.
• 30:54
  We're not supposed to open it, but we always do because in that
• 30:57
  box is our old friend Jerome Powell.
• 31:00
  Gomer Powell. Surprise, surprise, surprise,
• 31:03
  right? He's in a box because he has a
• 31:06
  recession on one side and inflation on the other, and the
• 31:09
  only solution that goes in there is this.
• 31:12
  I forgot to show you that. I forgot Show and tell today.
• 31:16
  That's the year of the horse coin from First Met, Man, talk
• 31:19
  about a beauty. Anyhow, you put silver in there
• 31:24
  and that solves everything. Stagflation.
• 31:27
  If you say stagflation when this guy's around, if you open the
• 31:31
  front door at the Federal Reserve and yell stagflation,
• 31:34
  they all scatter like mice, right?
• 31:38
  They hate it. Uh oh.
• 31:39
  Hold on. My phone's ringing.
• 31:41
  Oh, it's upstairs. Susie, The.
• 31:44
  Hey, Susie, you're on the. You're alive.
• 31:48
  Hello, Susie. Hello.
• 31:53
  Hello. Uh oh.
• 31:55
  Something happened. Hold on a second, guys.
• 31:58
  We tried calling her back. She may be calling me.
• 32:03
  And you forgot to show a chart. Oh, Which chart did I forget to
• 32:07
  show? I don't know.
• 32:08
  I'm outside with my phone. OK, Well, you're live.
• 32:11
  Say hi to everybody. Hello.
• 32:13
  I know I'm here. OK.
• 32:16
  There's upstairs Susie, but she's on a cell phone.
• 32:18
  OK. All right.
• 32:20
  I'll talk to you later. I apologize.
• 32:22
  OK. Bye.
• 32:23
  OK, well I don't know which chart I forgot to show, but
• 32:27
  whatever one I forgot. I'm sorry.
• 32:29
  I'm a one man band and I know you guys say that I need to get
• 32:33
  my act together. This is my act together.
• 32:35
  Anyway. Stagflation.
• 32:37
  OK, now we got big news. Let me go.
• 32:39
  Let me go right to it and make sure I share the right screen.
• 32:43
  Yes, this is from Walter Bloomberg.
• 32:47
  Hold on here, it's coming. Here we go, Walter Bloomberg,
• 32:53
  it's official and this guy's a big account. 1.2 million
• 32:56
  followers. Stagflation is rocket fuel for
• 33:00
  gold and silver. He says Powell is expected to
• 33:03
  warn of stagflation risk. This is big news, guys.
• 33:07
  We talked about this two, 3-4 years ago ahead of the March Fed
• 33:12
  meeting. Jerome Powell, Gomer Powell,
• 33:15
  surprise, surprise, surprise, is likely to acknowledge
• 33:19
  stagflation risk as oil prices surge.
• 33:25
  That's not just according to Walter Bloomberg.
• 33:28
  I wonder if he's related to the Bloomberg's.
• 33:30
  Anyway, that's according to Bank of America.
• 33:33
  Guys, listen, and I'm going to explain to you the reason why
• 33:37
  this is such a big deal. This is according to Bank of
• 33:43
  America BOA, right? One of America's biggest banks,
• 33:48
  massive bank anyway, is saying that Jerome Powell is going to
• 33:52
  talk about stagflation. That's like, I don't know,
• 33:57
  that's like the the the head of the New York Knicks talking
• 34:01
  about the Celtics. They don't want to do it or
• 34:03
  whatever. OK, That's a massive, massive
• 34:07
  development. OK, Look, the reason why
• 34:10
  stagflation is the best environment ever for gold and
• 34:14
  silver is there's two reasons. Number one, look back at the
• 34:17
  last time that we officially recognized we had stagflation in
• 34:21
  the United States of America. That would have been the decade
• 34:24
  of the 1970s when the silver price went from $1.50.
• 34:29
  You imagine that all the way to $50.00, right?
• 34:33
  You think that other period of 2001 to 2011 that I showed you
• 34:37
  earlier when the dollar index went down was under $5.00 to 50?
• 34:41
  No, in the 70's, the silver price went from $1.50 all the
• 34:45
  way to $50.00 because of stagflation.
• 34:48
  That's one reason why it's a big deal.
• 34:50
  The second reason why it's a big deal is because the Fed is
• 34:54
  doomed under that scenario because when we have a recession
• 35:00
  check, right, we're hearing now that we were already having
• 35:03
  economic issues before the war in Iran, right?
• 35:08
  When there's a recession, what does the Fed do?
• 35:11
  the Fed cuts rates. But OK, that's the stag side of
• 35:15
  stagflation, Deflation side of inflation side of stagflation is
• 35:22
  inflation. So when they cut rates and
• 35:24
  there's already high inflation, they cut rates to deal with the
• 35:28
  recession. That makes inflation not come
• 35:33
  about. It makes it even worse.
• 35:36
  So it makes like, that's not why we had crazy inflation during
• 35:39
  the 70s. So then you got crazy inflation,
• 35:42
  which they have to raise rates to deal with.
• 35:46
  But at the same time, remember we got stag and stagflation,
• 35:50
  right? That hurts the economy even
• 35:52
  more. It becomes, it becomes a, a doom
• 35:54
  cycle, OK, an absolute doom cycle and all on top of that.
• 35:59
  I apologize to you. I promised I would show this
• 36:02
  earlier. the US debt clock. Where'd it go?
• 36:06
  Here it is. Here's the US debt clock.
• 36:08
  All of that in an environment and I don't know what did this
• 36:12
  happens every once in a while. They they have like a, a big
• 36:15
  blocker up on their on their website.
• 36:18
  You know when you can't figure out how to get rid of it.
• 36:20
  Anyway, let's go over here. All of this in an environment
• 36:24
  where we are now on a steady path to have 40 trillion.
• 36:31
  Make sure I got the screen up. Now I'm paranoid, $40 trillion
• 36:35
  in national debt, $356,000 in debt for each US taxpayer.
• 36:42
  But this was actually interesting.
• 36:43
  I want to share this with you on the US debt clock banking
• 36:46
  transform. They're comparing the Fed, the
• 36:48
  current FED system we have versus 50 state credit unions.
• 36:52
  But this, this puts things in perspective.
• 36:56
  Banking cartel that we have currently, Currently we are
• 37:00
  paying in this country 5.5 trillion.
• 37:06
  That doesn't look good. I like to really make things
• 37:09
  look nice. Here we go. 5.5 trillion in
• 37:12
  interest. OK, they point out.
• 37:15
  That's an unproductive hold on diversion of money to the ultra
• 37:21
  rich banking class. High interest cost with interest
• 37:24
  rates are going up too, which is another sign that there's big
• 37:28
  trouble, right? The 30 year bond yield, the 10
• 37:30
  year bond yield are both up significantly.
• 37:33
  And with the quote UN quote dollar being stronger in the, in
• 37:36
  the fact that we're in the middle of a war, right, People
• 37:40
  should be buying U.S. Treasuries dry driving the price
• 37:43
  down. But that's not the case, OK?
• 37:45
  High interest cost is a symptom of debt based fleeting dollar.
• 37:50
  There is no non interest bearing money in circulation to pay the
• 37:56
  debt. Biggest scam in history.
• 37:59
  So that's what we're dealing with right now, guys is not not
• 38:03
  a good situation. But let's get back to some fun
• 38:07
  things about silver because wait, there's more.
• 38:10
  Before I do that, I do want to say thank you.
• 38:13
  I talked to one of the owners of this company last night.
• 38:16
  Wonderful, great people. I love this thing, right?
• 38:19
  The Dirty man safe. If you have something valuable
• 38:22
  that you want to protect, maybe you have a safety deposit box,
• 38:25
  maybe you have a safe in your house.
• 38:27
  Maybe you hide things in your underwear drawer, whatever.
• 38:29
  None of my business. But for thousands of years,
• 38:32
  people have proven the number one place the store things is in
• 38:36
  the ground. And that's right where this
• 38:39
  goes. The Dirty man safe.
• 38:41
  And there's a discount code. See it Ron 10.
• 38:44
  Ron 10 anyway, when they first sent me this, I was like
• 38:48
  everybody else. I go, it's a piece of PVC, but
• 38:50
  no, this is cool. It's robust, it's bulky, it's
• 38:54
  really, really awesome. You unscrew the bottom, all
• 38:57
  right and it's got a big seal that goes on there, right?
• 39:01
  You put whatever you want inside.
• 39:03
  I got a little plastic Unicorn inside mine.
• 39:06
  And then and you can check this out at their website,
• 39:08
  dirtymansafe.com. It comes with a sleeve.
• 39:12
  You bury this in the ground. This goes down in it's got like
• 39:15
  this cool like stainless steel cable with a handle and then
• 39:21
  it's got a sleeve. This goes into the sleeve.
• 39:24
  There's a cap that goes on top. Then you cover it with dirt and
• 39:27
  you don't tell anybody except maybe one person where it's
• 39:30
  buried. OK, It comes with some other
• 39:32
  cool stuff as well. Check it out.
• 39:34
  It's really awesome. Ron 10 is the discount code.
• 39:39
  And thank you dirty man safe. I've enjoyed working with you.
• 39:42
  Let's go look at some fun stuff going on in the silver and gold
• 39:47
  market right now. This is from Honza.
• 39:52
  Am I sharing the screen? Yes, I am.
• 39:54
  OK Honza. Saturday, super smart guy Oil
• 39:59
  near $100? Check.
• 40:01
  Stocks falling? Check.
• 40:03
  Silver being sold. Honza.
• 40:06
  Right. That's not a contradiction.
• 40:09
  It's liquidity stress. And we're hearing that out of
• 40:12
  the private banking sector, the shadow banking sector, which
• 40:15
  we've touched on on previous videos.
• 40:17
  Things there are big, there aren't just cracks, there are
• 40:20
  chasms forming anyway. Funds will sell what they can,
• 40:24
  not what they want, he says. Historically, this phase often
• 40:31
  comes right before silver moves violently higher.
• 40:38
  All right, that's based on history.
• 40:41
  OK, Thank you, Hanza. Hanza is a very sharp guy,
• 40:46
  getting a lot of attention in the silver and gold sector.
• 40:49
  And our good friend Make gold great again.
• 40:51
  We love to smile and laugh. This is a good one.
• 40:55
  But it's also a very powerful point.
• 40:57
  And I'll explain to you why he says when the silver crisis
• 41:01
  hits, there will be no strategic reserves to release.
• 41:07
  The situation is far more crude. Did you get what he's saying?
• 41:12
  Did you get the point that he's making right?
• 41:15
  Yeah. This oil crisis hit.
• 41:17
  There's speculation that the government is putting some
• 41:21
  downward pressure potentially in the paper crude oil market.
• 41:25
  And of course we've got this massive strategic petroleum
• 41:29
  reserve where they made a record release like this.
• 41:32
  Little oil prices are, you know, there's no oil coming out of the
• 41:34
  Middle East. So we've got 5000 million
• 41:37
  barrels and we'll just release a bunch of it on the market and
• 41:40
  drive the price down. That's a temporary fix.
• 41:42
  With silver, it's a different situation.
• 41:46
  When the silver crisis hits and it's been hitting and we know
• 41:51
  the fundamental reasons why it will continue to hit.
• 41:53
  There's no strategic reserve, although coincidentally now
• 41:58
  they're talking about creating strategic reserves of critical
• 42:01
  minerals, but it's not there yet where they can say, oh, we can
• 42:04
  release, you know, 50 million ounces of physical silver on the
• 42:08
  market. We got it covered.
• 42:10
  He said. That's the crude reality.
• 42:12
  Hey, I hope you've enjoyed your time down here in the basement.
• 42:15
  What a big honor. I love you guys.
• 42:18
  We got the best community upstairs.
• 42:20
  Susie loves you guys, but please subscribe to the channel.
• 42:23
  That way you can become part of the club, right, a basement
• 42:26
  dweller. And I want you to take care,
• 42:29
  man. It is absolute.
• 42:31
  We are living through absolute historic times.
• 42:34
  But we can do it together. And I think a lot of us share,
• 42:38
  right, the same strategy that we're going to protect ourselves
• 42:41
  with precious metals. Take care of yourself.
• 42:44
  Have a great day. And I'll see you.
• 42:46
  Yes, I see you. Yeah.
• 42:48
  You the one and only. I'll see you soon.