Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 $22.50 SILVER 🚨 Federal Reserve Report Says TO PREPARE

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🚨 $22.50 SILVER 🚨 Federal Reserve Report Says TO PREPARE · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
What do you think would happen to the silver price and gold
0:04
price if just if we went into a full blown depression?
0:10
Yeah, we'll skip right over recession and go right to
0:13
depression. What do you think would happen
0:16
to the value of the silver that you hold, the gold that you
0:20
hold? We're going to talk about that
0:22
and the likelihood that we could go into a full blown depression
0:27
in this video. Also there's all this
0:31
controversy going on. There's a new video out about
0:34
how silver is not in a shortage but actually in a surplus.
0:41
We're going to dive into that one as well because there's a
0:43
lot of controversy surrounding this and and people saying that
0:47
there's pumpers. You know what a pumper is?
0:50
Someone who is always talking about how silver is going to go
0:53
to 85 dollars or $100 and spreading FOMO and all that.
0:58
We're going to dig into that as well because I have some
1:02
thoughts on that matter and maybe we'll taste take that
1:05
gentleman to task a little bit as well.
1:07
But let's dive right into this idea of a recession.
1:11
Did you say recession? No depression.
1:14
Have you ever noticed in life that a lot of times what happens
1:18
is what you don't expect is going to happen?
1:22
Life is full of unexpected circumstances, things we can't
1:26
predict for, for everything, predict, prepare, prepare for
1:31
everything nonetheless, right? What we're hearing from the Fed
1:35
right now is that we're having a soft landing.
1:37
But then there's other people talking about, no, no, no, we're
1:40
in a recession or we're going to have a recession.
1:43
What about a depression? Nobody's talking about a full
1:47
blown depression, I think. I don't know how you feel about
1:50
this, but I think the odds of a full blown depression are much
1:55
higher right now than any time in what, the last 100 years
2:00
since our last depression? As a matter of fact, I'm going
2:02
to ask you if you think that there's a, let's say, more than
2:07
20% chance that we could actually have a depression Type
2:12
4 in the comments. I'm just curious, am I alone?
2:15
And if you think no, there's no way we'll ever ever have another
2:19
depression again type 6. I'm just curious how you guys
2:23
feel about this because we got a new report from the Fed.
2:27
OK that shows that we're much likely in a recession.
2:31
Guys lending has, has has has ground to a halt in this country
2:37
lending standards that the banks use the the hey thank you guys 4
2:43
by 4 old dirty bastard garage. That's a good one.
2:46
The threshold to get a loan now from a bank, whether it's a car
2:50
loan, a home loan, a mortgage, whatever you're talking about.
2:54
I guess home loans and mortgage loans are the same thing.
2:56
But nonetheless, you know what I'm saying?
2:57
A business loan, a small business loan, the standards
3:00
have been ratcheted up, up, up. Banks are making it very hard to
3:06
get loans because they don't have the money to loan, OK?
3:10
But at the same time, it's very interesting.
3:13
There's also much weaker demand for credit.
3:17
Why? Because people don't want to
3:19
borrow money now because the rates are so high.
3:22
Are you seeing where this is going?
3:24
And on top of that, with this unbelievable crazy inflation
3:29
we've had, people can't afford to even the rates are higher and
3:34
they have less money to spend on monthly payments.
3:36
Everything is grinding to a halt and these new Fed reports are
3:41
telling us just that. OK, people can't afford more
3:46
debt. And and the kicker here, the
3:48
kicker here is everything's grinding to a halt.
3:53
And when it comes to the economy you ever, you ever make
3:55
lemonade, you squeeze a lemon or you squeeze an orange to make
3:59
orange juice. They've squeezed everything they
4:02
can out of the US consumer. They have squeezed and squeezed
4:06
and squeezed. And now with this current high
4:10
interest rate environment, with this current situation where
4:13
people, businesses are, are having, their sales are going
4:17
down, people are individual people like you.
4:20
Do you feel it? Do you feel it?
4:22
I got to tell you about the $10 ice cream cone or or later we're
4:26
going to talk about that. You'll feel it when I tell you
4:28
this story. But nonetheless, people just
4:30
don't have the money to to even borrow.
4:33
OK, I shared a story. I was kind of just casually
4:37
looking at a new Kia Carnival minivan and I'm looking at the
4:40
price of the minivan and I'm looking at if I were to take a
4:44
loan out. Yeah, we we probably could pull
4:46
off paying for it with cash, but it's a lot of money.
4:49
I thought, well, I'll just look, I'm thinking these rates are so
4:52
high, I don't want to pay that much.
4:54
Nobody. I mean everybody is is grinding
4:57
to a halt. Let's get back to this Fed
4:59
report though. I got off track a little bit
5:01
there. The data shows from the Fed
5:05
when, when, when, when, when borrowing, when lending
5:09
contracts the way it has. There's like a 95% chance when
5:13
we're at the level we're at that we're going to have a recession,
5:16
remember. I think we're going to have a
5:18
full blown depression and what is that going to do to the
5:21
silver and gold prize? OK, U.S. banks, this is a
5:26
report. the US banks are worried about uncertainty, OK?
5:31
They're worried about the value of the collateral they have on
5:35
commercial real estate. The collateral means they loaned
5:39
out $10 million on what they thought was a $10 million office
5:44
building. And now they're realizing that
5:46
that office building is no longer worth $10 million.
5:49
It's only worth 6 or $7,000,000, OK.
5:52
They're worried about collateral and all types of things.
5:55
Used car loans, OK, there's, there's so much going on.
6:00
They're worried about obviously the value of their U.S.
6:03
Treasury holdings, right. Those have dropped.
6:05
The 20 year TLTETF as an example has dropped by 50%.
6:11
These banks are in big, big trouble and they know that the
6:16
consumer and corporate entities are under financial duress.
6:22
It's really getting scary right now.
6:24
OK, then the value of collateral is diving, OK?
6:29
We're seeing credit card defaults going up, way up.
6:32
Car loan defaults are going way up, way up.
6:35
And we know next year we haven't even felt guys, we've not even
6:40
begun to feel the full effects of this commercial real estate
6:44
bomb that is heading at the United States.
6:47
Banks don't have the money to lend a small business.
6:52
Remember, small businesses are the backbone of the United
6:55
States economy, and the banks don't have the money, right.
6:58
Everybody's pulling their money out of the banks because they
7:01
can get paid higher interest. Other elsewhere, the banks don't
7:05
have money. Small businesses are getting
7:08
suffocated, and many of them can't even afford to renew their
7:12
new loans because they're zombies.
7:14
And we've covered that, OK. We've covered that at ad
7:17
nauseam, OK, Banks see extreme uncertainty.
7:25
That's another take away from this latest Fed report.
7:27
So what we're going to see are more bankruptcies, right, and
7:31
less activity. Restricted credit equals
7:34
recession and we've not even here.
7:39
This is a key, a key point of what we're talking about here.
7:43
What we're talking about, how difficult the current
7:46
environment is. We've not even felt the full
7:50
effect of all the Fed interest rate hikes yet.
7:53
It has not bled through because of the delay effect or the.
7:57
There's another word, there's another word that's mitten of I
8:00
can't get it. You know how that goes.
8:02
I'm struggling. You're watching me struggle The
8:06
the delay effect, we're going to call it that, although that's
8:08
not the right word. It takes 6 to 9 months for the
8:11
effect of an interest rate hike to go all the way through the
8:14
economy. Hey, thank you. 200 people,
8:16
please, do me a favor. Give this a thumbs up.
8:19
It's that little button that looks like my my ugly thumb, You
8:23
know, that helps us get the word out.
8:25
And it's a nice gesture on your behalf that you can do for us
8:29
basement dwellers here on Ron in Ron's basement.
8:31
So we're going to have more bankruptcies, less activity,
8:34
recession. And we have got to realize
8:38
that's probably the case right now.
8:40
But if the Fed continues with this hawkish stance, I don't
8:45
know. Do you feel it?
8:46
Am I the only one that thinks that we could actually have a
8:50
full blown depression? Nobody's talking about thank you
8:54
shadow work for the Super chat. I'm on a super expensive
8:57
vacation. I'm going to tell you about the
8:59
$10 ice cream cone here in a minute.
9:01
OK? And how screwy our economy is.
9:05
But why is nobody talking about a depression?
9:07
And isn't it always like, we know that it's there, but nobody
9:11
wants to talk about it? Isn't it always?
9:13
Haven't you experienced that in your life?
9:17
Like, it's the things that you don't think will happen that
9:20
you're not preparing for that actually do happen.
9:23
And I want to tell you, I think, I'm not saying for sure we're
9:27
going to have a depression. I don't want to be known as the
9:30
doom and gloom whatever, but I think the chances of you and me
9:35
living through a depression are much higher than any of our
9:40
contemporaries want to recognize or realize what will happen to
9:44
the value of your silver and gold?
9:46
I'll tell you what will happen. They will save you, OK, No
9:50
matter how you slice it or dice it, no matter what kind of math
9:53
or calculus or geometry you want to apply to it.
9:56
OK. The value of silver and gold,
9:59
whether it's a horrible deflationary environment or
10:03
hyperinflation, which is much more likely in that scenario,
10:09
gold and silver will maintain their value.
10:12
OK, no doubt about it. Do we want this to happen?
10:17
Do you want. I mean, you know, no, I don't
10:20
want it to happen. I don't want the wars that are
10:22
going on to happen. I think think about it.
10:25
But we've got to, we've got to be like making decisions, living
10:30
in reality, not living in some Pollyanna world of of CNN or
10:36
MSNBC or even Fox News, any of those.
10:39
They're not telling us the real, the real stories, what's really
10:43
going on out there. And that's why, you know, we
10:46
choose to be prepared. And again, I'm a firm believer
10:49
that silver and gold will be fine under any scenario that
10:53
includes a depression. You know what'll happen.
10:56
The federal react super quickly. They'll pump up the value, pump
11:01
up the the, the, the amount of cash in the system, right.
11:05
And and and the dollar will be diluted further and the value of
11:10
silver and gold will maintain and do actually do very, very,
11:14
very well. That's the only thing they can
11:17
do. The system has become so
11:18
sensitive, so delicate, right. We cover this ad nauseam all the
11:23
time that no matter what happens things have escalated.
11:28
Thank you, Ray. The lag effect.
11:32
Look at that guy, Ray Foley. Boy, you're the subscriber of
11:35
the day, Ray, you gave me a $10 super chat and you helped my 53
11:41
year old mind. Remember that?
11:42
The word I was searching for was the lag effect.
11:45
And that's again so critical to understand guys, this crappy
11:49
situation where the feds even kind of their data is showing
11:52
that we're going into a recessionary environment.
11:56
We've got, we've got more coming down the road, right.
11:59
It's like looking at a weather forecast.
12:02
Oh my gosh. This is a great way to think
12:03
about it. You know, you pull up the radar
12:05
on The Weather Channel app on your phone or whatever, and you,
12:08
you know where you are. And you know that the weather
12:11
travels from east to West. Imagine a giant thunderstorm,
12:16
OK? And where you live, the
12:18
thunderstorm is only like a third of the way through.
12:21
We got 2/3 of the thunderstorm coming still, when it comes to
12:25
the lag effect, it's the big lag effect on thunderstorm coming
12:29
from the Fed. We're going to talk about the
12:31
$10 ice cream cone, OK? Don't you worry.
12:34
We're also going to talk about this silver shortage.
12:37
Oh no, no, no, no, no. It's not a silver shortage.
12:40
Apparently now there's a silver surplus #silversurplus.
12:45
We're going to talk about that as well.
12:46
I'm going to give you my thoughts on why I don't
12:50
necessarily agree 100% with what that gentleman is saying.
12:54
OK, but first, if you do want to get your hands on some gold or
12:57
silver or platinum, this show is sponsored by Pimbex Pi MB EX.
13:04
That's my online bullion dealer that I work with.
13:08
Go check them out If you want to get yourself the best prices.
13:12
To me that's key. But also feel comfortable that
13:15
you're dealing with a trustworthy company, Do your own
13:18
due diligence. That's what I do.
13:20
That's what I recommend you do, right?
13:22
I don't give financial advice. I just tell you what I do.
13:26
I found Pimbex to be the best. I think you will too.
13:29
Pimbex, Pi, MB, EX. Now let's move on here.
13:34
Oh, here, here. We're talking about all these
13:36
troubles. Let's not forget we had a bank
13:38
fail last week that nobody's talking about.
13:41
Citizens Bank in Iowa failed. Why did they fail?
13:45
Because of their exposure to the trucking industry.
13:48
Essentially business loans going bad.
13:52
So this can happen. OK, is that the Canary in the
13:55
coal mine? We don't know, right?
13:57
But But but nonetheless, absolutely this can happen.
14:04
On top of it all, big story this morning.
14:07
Huge story on Zero Hedge declaring that we've now crossed
14:13
the point where the interest on the national debt is now over $1
14:18
trillion per year. Think about everything we just
14:22
talked about, OK with the economy with the potential for a
14:25
depression. And then factor in that we've
14:28
got this 33 trillion in debt. And now for the first time, the
14:32
interest alone on the national debt is over $1 trillion per
14:38
year. Hold on a second.
14:45
I need to get my sweat rag. Don't you leave.
14:47
Oh, we got 100 thumbs up too. Hey, hey, hey.
14:53
There's 10 rings of the rail. Woof.
15:00
OK, get to watch me sweat. I'm sweating.
15:08
Sorry if that makes you uncomfortable, but let's let's
15:11
not. Oh, well, let's go.
15:12
Another great one here. Another headline news.
15:16
Used vehicle prices record their largest maximum drawdown in
15:21
history. OK.
15:23
From its peak to where they are now, used car prices are down
15:27
almost 20%. Is the economy slowing?
15:30
Are banks no longer loaning money on cars?
15:33
You got it, our consumer. So the banks don't have the
15:37
money to loan, and they're and they're so they're making it
15:40
much more difficult for you or me to get a car loan, OK.
15:44
On top of that, the consumers don't have the money to make
15:48
these crazy car payments. Guys, this is like a doom loop.
15:52
Potentially that could again spell not just a recession.
15:56
I'm going to go out and say it depression, all right.
15:59
I'm not saying it's going to happen, but we got to be
16:02
prepared. And I would highly recommend
16:06
monetarily and emotionally that we are prepared for all of us.
16:11
Hey, Jim. Yes, our goodfriend.com, Don.
16:14
Thank you Jim for pointing that out.
16:17
A trillion dollars a year is what our government's now
16:20
spending on interest alone. A trillion is 1,000,000 *
16:26
1,000,000. OK, our goodfriend.com Don had a
16:30
song he wrote about that and I want to give him credit.
16:33
I'll continue to do that. A trillion is 1,000,000 *
16:36
1,000,000. Think about that.
16:38
We're spending 1,000,000 * 1,000,000 dollars every year
16:42
just on interest, on nothing. We're getting nothing back.
16:45
Congratulations America. That's what your politicians
16:48
have done for you. Not to mention gotten us into
16:51
countless wars over the last 25 years that have resulted in a
16:55
lot of nothing in terms of economic gain, but also most
17:00
importantly, created a lot of pain and suffering for people
17:03
all over the world. Anyway, I digress.
17:06
OK, OK, here, used carpet. Let me listen to this.
17:12
Charles Schwab, Chief Chief Investment Strategist, Liz Ann
17:16
Saunders, I bet she's a nice person, was the first to point
17:20
out on social media platform X that the Manheim Price Index has
17:26
extended its maximum drawdown to -18%, which is the largest in
17:32
the history. OK.
17:34
We're making history in used car prices, the largest decline in
17:39
the index's history all time. But everything's great out
17:43
there. Everything's great.
17:44
I'm going to tell you what's not great.
17:46
Inflation. OK.
17:48
I'm going to tell you that in the last three years, prices
17:51
have gone up at least 83%. I don't care what they say.
17:56
I go to Walmart, grocery store down here in Orange Beach every
17:59
year. Used to cost 180 bucks.
18:01
Now it costs. Thank you, Richard.
18:03
Finally at home here in Toronto. Good to see you, that you are an
18:07
awesome leader of the Rounds basement team.
18:09
Oh wow. Enjoy your vacation.
18:12
Thank you, man. Thank you for the Super chat.
18:14
Never expected. Always appreciate it.
18:16
But I'm telling you guys, think about this, think about this.
18:21
What? What?
18:21
What used to cost, let's say $100 at the Walmart grocery
18:25
store now cost at least 150. A 160.
18:30
OK, but on top of that, all the damn package sizes have shrunk.
18:34
You know that shrink flation, right?
18:37
So what you used to get for $100 now cost you nominally 160.
18:43
But in terms of actual real value of what you're getting is
18:47
maybe only 80%. It's we've had at least 83.6%
18:51
inflation, and it's not working. It's not working for middle
18:55
America. I'll tell you, I'm a family man.
18:58
I support the family. OK?
19:00
Susie raises the kids, takes care of our elderly mother.
19:04
Right. I work my tail off and I'm
19:06
telling you, if you're in this situation like I am with, I have
19:09
twin 11 year old daughters. It's crazy how expensive
19:13
everything has gotten. And then especially if you have
19:16
kids, that's the other thing. They eat five times more than
19:19
they used two, five years ago. But I'm happy about I'm glad
19:23
they're but it's it's it's not a good situation.
19:26
You want to hear about a $10 ice cream cone?
19:29
And then I'll shut up. And then we're going to talk
19:31
about the silver surplus. And we're going to, we're going
19:35
to take that to task and we're going to dive into this idea of
19:38
a silver surplus. OK.
19:40
Because I think we might have. Hey, Robert, Thank you.
19:43
Thank you. Thank you.
19:44
Not if, but when I happen to agree with that.
19:47
OK. It's crazy the way what things
19:51
have come to. We go to dinner last night.
19:52
Wonderful. Nice little dinner.
19:54
It's not a fancy place. Six of us, by the time we're
19:57
done, it costs 150 bucks to go out to eat.
20:01
My kids had kids meals. I mean, it's just insane.
20:04
Then on the way home, Susie says I'm going to treat everybody to
20:07
ice cream. She's like, there's that ice
20:08
cream place right across the street from our condo.
20:11
It's called Kayden KAYDENS. OK, I said OK fine.
20:17
I'm thinking, I bet it's expensive.
20:19
We go in OK One scoop of ice cream is like $6.
20:24
And if you want it in a waffle cone.
20:26
That's another $2.00 and then you got to leave a tip.
20:29
They have $10 ice cream cones. My blood and I would love that.
20:33
Susie wanted to buy everybody ice cream.
20:34
That was great. I just walked outside and and my
20:38
daughter came out and said, daddy, don't you want ice cream?
20:40
I said yeah I want ice cream, but I'm not going to pay $10.00
20:44
for a scoop of ice cream. I'm like, I want to get out of
20:46
here as fast as I can you, you know, And and and she was
20:51
wonderful. I'm not mad, was not mad at all,
20:54
just doing a nice thing. But I'm like, what has the world
20:57
come to when one scoop of ice cream is $10?
21:02
Because, you know, we're right next to the Walmart grocery
21:04
store. And I'm thinking I can go in
21:06
there and buy a whole big tub of that.
21:08
What is it? Blue Bluebell or?
21:10
Sorry, it's an airplane. We're right by the Navy base.
21:17
Some kind of airplane flew by. Sorry about that.
21:20
I'm like, I can go buy an entire big thing.
21:22
I think it's called blue something.
21:24
You can only get it in the South.
21:25
That ice cream, Bluebell. And we bought a big thing if
21:28
it's the best ice cream ever for $8.
21:31
So, you know, what is it? It's just insane.
21:34
All right, let's move in. Oh, I want to say thank you.
21:36
Do me a favor, guys. Type 5, high five.
21:41
Let's do a high 5 for are all the moderators that are here.
21:45
I see Annie Oakley. I know coin shop.
21:47
Chris. I know Jake is here.
21:48
I bet Jim M is here. OK.
21:51
These moderators do a lot for this channel.
21:54
OK. A lot, lot for the channel.
21:57
Look at all those fives. You guys are high 5.
22:00
Thank you. Moderators.
22:01
OK, so there's this, there's this new video out.
22:06
I think the guy's from Vermilion something.
22:09
He's a coin dealer down here in Florida.
22:11
Oh, I'm in Alabama, but Florida. And he says there's a silver
22:16
surplus, that there's that right now.
22:19
There's way, you know, he says, you know we've got all these
22:21
guys on and I'm not putting the guy.
22:23
Wonderful video. Wonderful.
22:24
I've I've watched his other stuff or there's I like him and
22:27
I'm not arguing with him because he's.
22:29
I believe he's honest and he's talking about what's going on.
22:31
But I want to point out some other things.
22:34
He says that like there's more silver being sold back now than
22:40
people are buying. People are selling their silver,
22:43
OK And I talked to coin shop Chris and I've talked to other
22:46
people say, yeah, people are selling silver back mostly to
22:50
pay bills because they can't afford to pay their car payment
22:53
or their grocery bill or their electric bill.
22:59
But. But.
23:01
So we're not seeing like massive wholesale people liquidating
23:05
massive amounts of silver. But he's talking about how, you
23:10
know, premiums have dropped. So if you're looking to buy
23:13
silver, I think now maybe a good time to look because premiums
23:17
have dropped significantly. And there's a real balance
23:20
between silver that people are bringing into the coin shops to
23:24
sell, excuse me, and silver that people are showing up at the
23:29
coin shops to buy. And I can't argue with that.
23:32
He works in the business and I really trust this guy.
23:35
He's a good guy. I I really feel like he's being
23:37
honest. But they started this
23:40
#silversurplus, and it's getting a lot of attention, OK.
23:45
But I want to point out just a couple things.
23:47
OK, again, people are strapped. But also we got to remember this
23:52
is just the local coin shop retail perspective of what's
23:57
going on in silver, OK? That's a tiny sliver of the
24:03
silver market that's people buying coins, rounds, bars.
24:10
That's not that. I mean it's significant and it
24:13
matters, but it really is just a sliver of the entire silver
24:18
market, OK. And and and we've talked about
24:23
this guy so many times, right, the silver market is small.
24:27
It is small. I mean on an annual basis, the
24:30
mines and recycling only, there's only about a billion
24:34
ounces of silver that's produced every year.
24:36
It's like 25 billion worth of silver.
24:38
It's small and sensitive okay, but the retail side of it is
24:45
even smaller. The retail silver market is even
24:48
smaller and even more sensitive. So what that means is yes, yeah,
24:54
we can have silver shortages, right.
24:57
Remember what happened back in March and April, Remember what
25:00
happened during the Silver Squeeze?
25:02
Remember what happened during Co C 19.
25:05
Sorry, right. Those are three examples, C19,
25:09
Silver Squeeze and even just the little banking crisis that we
25:14
had that it hasn't gone away. But I won't go down that path,
25:18
how sensitive the silver market can be.
25:21
It can go to shortage like that, OK.
25:24
But part of that, the other flip side of that sensitivity is it
25:28
can go to surplus. If you're just looking at that
25:31
little retail segment, it can also go to surplus right when
25:35
the economy starts to crash, like it maybe is right now.
25:40
And people need money to pay their electric bill.
25:43
People need money, right, to pay their grocery bill and they come
25:49
in and sell 10 oz or 20 ounces of silver and that starts
25:53
happening all over the country. It can go quickly, right from
25:56
shortage to surplus very, very quickly.
25:59
So to say now that that that this is what I want to say about
26:05
that, that's short term noise. The long term picture for
26:09
silver, the long term picture for silver is shortage, in my
26:15
opinion. OK.
26:16
And I It's not just me. It's a lot of people.
26:19
Now I'll get accused of being a silver pumper.
26:21
Am I? Do you think I'm a silver
26:22
pumper? If you think I'm a silver pumper
26:25
type P for pump in the comments or if you think it's legit that
26:33
we are in a situation where we're going to see shortages of
26:36
silver type L, OK, you guys don't have to agree with me.
26:40
You do not have to agree with me.
26:42
I think it's legit. All right, let's let's get this
26:46
is getting more and more noticed.
26:50
We already know the big picture supply, demand picture for
26:54
silver. Let's just talk about supply.
26:56
The amount of silver coming from the silver mines has gone down.
27:00
It went down last year. There's nobody exploring for
27:02
silver. There's no money in silver right
27:05
now. There's no very few companies
27:07
with drills drilling into the earth looking for silver,
27:11
because there's no money in the mining sector and there's
27:14
especially no money in the silver sector.
27:18
So the pipeline of future silver is constricted at this point and
27:23
will continue to become more constricted over the next 10
27:26
years because it takes 10 years between the time you drill to
27:30
the time you can start mining and producing silver out of the
27:34
ground. So we've established that.
27:36
But what about demand? This is, you know, the big
27:40
picture for demand for silver. But this new segment is getting
27:44
more and more there. There's already a beautiful
27:48
story for increased demand in silver, but there's something
27:52
new that people are talking about and getting more and more
27:57
attention when it comes to demand for silver.
28:00
Artificial intelligence headline Artificial intelligence to fuel
28:05
silver demand. It'll be a new source.
28:08
A new source. Remember, it used to be
28:10
photography and that went away, but then it became electronics.
28:14
Solar, right? Electric cars.
28:17
Well, now AI is a new new source of demand for silver.
28:23
Listen to this. AI driven demand will likely
28:25
have the most significant impact on the silver market.
28:29
Silver possesses the lowest electrical resistance amongst
28:33
all metals at standard temperatures and is a vital
28:37
component in many electronic applications.
28:40
Tech and industrial applications account for more than half of
28:44
global silver demand. The silver market already faces
28:49
the potential for significant supply constraints due to the
28:53
growing demand in the green energy sector.
28:55
Silver demand was at a record in 2022 and will likely run hot
29:00
over the next several decades. Stay with me.
29:03
According to a research paper by scientists at the University of
29:07
NSW, solar manufacturers will likely require over 20% of the
29:13
current annual silver supply by 2027.
29:17
And by 2050, solar panel production will use
29:21
approximately 85 to 98% of current global silver reserves.
29:31
What does that tell us? Solar alone.
29:35
OK, and that's only 20 years from now, could be using 100% of
29:40
the world's silver. But more importantly, this AI
29:45
revolution, because of all the chips that are going to need to
29:48
be manufactured, could could produce a situation, OK, a
29:53
situation where we have an even more robust new demand source
30:00
for silver. Guys, it's getting very, very
30:03
interesting. You know, it dawned on me this
30:09
morning when I was thinking about the situation with the
30:11
economy and just how precarious of a situation we're in and
30:15
what's going on with the banks. And it's ugly in the banks.
30:19
Don't forget guys back in March and April when we had Silicon
30:23
Valley Bank and the other three, three of the largest banks in
30:26
the history of the country go bankrupt.
30:28
The 10 year bond rate was lower than if that happened when the
30:32
rate got to 4%. These banks are in big, big
30:35
trouble. The story from FedEx, really it
30:39
it came back into my, into my, my, my stream of thought this
30:42
morning because I don't think we're giving that enough
30:46
attention. When FedEx OK, tells their
30:49
freight pilots go look for other jobs because we can't keep you
30:54
busy. Go work for XYZ airline, flying
30:59
people down to Cancun because we don't need you to fly
31:03
manufacturing parts from, you know, from Seattle to Saint
31:07
Louis or from Miami to Cincinnati, Things are getting
31:12
very, very dicey, very interesting out there.
31:16
I want to thank our second sponsor today.
31:19
First mining Gold F, FM, GF. It's a company I've owned for
31:24
years and years before they sponsored the channel.
31:28
They're a gold development company in Canada.
31:31
If you want gold in the ground, I know you want it in your hand.
31:34
But the second best thing to me is to own stock in a company
31:38
that has it in the ground. First mining's got you covered
31:41
because they have over 13 million ounces in the ground.
31:44
Go to their website, read about the company firstmininggold.com
31:48
and then when you have questions, reach out to Paul
31:50
Morris. His e-mail address is in the
31:53
description of this and every other video.
31:57
Hey, the price of gold and silver before I came on.
32:00
We're hanging in there today. We're we were right at $1950
32:07
gold. OK, I want to remind you of
32:09
something. Who can say it first, huh?
32:12
Here's a hint. Here's a hint.
32:19
Who can say it first, right? Let's not forget guys that is
32:24
still in play right now. The Cup and handle formation in
32:29
both gold and silver. And when gold breaks out to that
32:32
new all time high, I know it's been a rough week.
32:35
I warned earlier in the week, I said by the end of the week,
32:40
we're either going to be a above 2000, are we're going to be
32:44
fighting for 1900 to keep that 1900 level.
32:47
And it's so important to the silver price as well because
32:50
silver is going to follow gold, right?
32:54
Gold is like the Big Brother. Silver's like the the little
32:57
brother that's six years younger, that's following in the
33:00
footsteps of the Big Brother. We're not.
33:03
We're not. I'm not calling defeat just yet,
33:06
right? This is Wednesday morning.
33:08
We could still see some strong movement by the end of the
33:11
weekend. Gold.
33:12
I got this sneaking feeling that we're still going to see gold
33:15
over $2000 by the weekend. I'm probably wrong.
33:19
Don't make any financial decisions based upon.
33:22
But when I factor into the old supercomputer and by the way,
33:25
just to warn you, you're looking at the supercomputer and you've
33:29
got a supercomputer on your as well, right?
33:32
There's no computer no model they can predict.
33:34
But when I factor in everything going on in the world right now,
33:37
the economic trouble that we're heading into, OK.
33:41
The monetary trouble that we're heading into.
33:45
The fiscal trouble that we're heading into.
33:47
Did you watch the Republican debate last night?
33:50
Why aren't they talking more about the fact that they've
33:54
bankrupted the country? I was talking to my mom this
33:57
morning before I went live out here on the on the balcony.
33:59
I'm like and I was I didn't mean this to her but I'm like you
34:03
realize that like my kids are are what's the.
34:06
I want to use the S word in bad trouble financially.
34:11
Like you know your generation and even my generation.
34:14
I'm generation whatever it is. X or something.
34:16
Generation X. They renamed Twitter after my
34:20
generation. Your generation.
34:22
But you know like we've lived high on the hog.
34:25
We borrowed, like, went on a spending spree on credit cards,
34:29
and then we're handing this off to the our kids.
34:31
Why aren't they talking about that?
34:34
Why aren't they talking about they're talking about we need to
34:36
build more ships, we need to, you know, blah, blah, blah.
34:39
And that stuff's important, Yeah, but they're not talking
34:42
about the fundamental problem that we have going on right now
34:46
in this country. That's just my opinion.
34:48
Can we get the 200 thumbs up? I will sit out here in the
34:51
sweltering heat if you guys give this a thumbs up.
34:55
OK, I'll do something. I don't know what I'll do, but
35:00
it would be great if we could get to 200 thumbs up.
35:03
It's a real, real mess, the situation they've got us into.
35:07
And I'm going to tell you one more time because this is the
35:10
good. Well, let's get back to the gold
35:12
and silver. Then I got one more big thing to
35:14
talk about. The silver price 2250.
35:19
I'm telling you, man, the silver price.
35:21
Guys, let me see if I can do this.
35:23
If you look at a chart, is that the wrong way?
35:25
I don't know. This way the silver price is in
35:28
this narrow range. I think I looked the other day
35:31
and it was like silver for the last year has traded between 21
35:35
and $25 and I've been following silver for decades closely and
35:40
it keeps getting compressed, compressed, compressed.
35:43
And I'm not a chart guru. I'm not a, I'm not a one of
35:49
these technical analysts. But I do know that it's again,
35:52
it's like this, it's like the cup and handle, right?
35:56
Right. When you compress the price like
35:59
that, eventually it breaks and it's got hey, we got 200 thumbs
36:04
up man, what am I going to do for you guys?
36:08
I got to find something to ring. I'll ring the coffee cup, the
36:12
cup and handle. Here we Where is it
36:15
123456789101112 There, there you go 20 rings of the cup and
36:22
handle because when that silver price breaks out of that
36:25
compressed section that it's in and if I'm wrong tell me send me
36:29
an e-mail if one of uses a big technical analyst.
36:33
Am I wrong? Let me ask you, you're obviously
36:39
a silver lover, right? I'm a silver lover.
36:41
We love silver. Does it feel like to you that
36:43
the silver price has been in a range and it keeps getting
36:46
compressed? I'm compressing right and when
36:49
something gets compressed it eventually blows and I can't see
36:54
silver blowing to the downside. I just can't, not from $22.00
36:59
right now. If it was compressed at $38
37:02
right now, I could say guys, it might break down, but it just
37:06
feels like silver in particular is going to go straight up.
37:10
Especially, especially guys when we consider OK, oh, I keep
37:15
wanting to talk to the microphones on my shirt when
37:18
when we want to consider, you might want to consider one thing
37:23
that we are in a stagflation environment.
37:26
Yes, we might go into a depression, we might, but we're
37:30
also in a stagflation environment.
37:33
Do we have a stagnant economy? What did the Fed tell us?
37:36
We talked about that earlier, right?
37:38
Credit conditions are being horrifically constricted.
37:43
I don't think anybody's buying houses right now, right?
37:46
It's it's just feels dead. I'm down here in Orange Beach
37:49
and it feels dead, OK? Nobody's buying cars.
37:53
Feels dead. Used car prices have dropped 20
37:56
percent, 20%. OK.
37:59
And I think they're gonna drop further.
38:01
All right, we've got the slowing economy and and and again, we're
38:06
only a third of the way through the thunderstorm of the Fed
38:11
raising rates. OK.
38:13
Do we have inflation? It sure as heck feels like it.
38:16
I mean, I still, when I go to the grocery store, right,
38:21
everything's still up in price. We have stagflation.
38:26
It could be a really fun ride for silver and gold investors.
38:29
I could be wrong, right? We could be sitting here 2-3
38:32
years from now. I could be Some guy sent me a
38:34
message, said you're going to be sitting in your basement 20
38:37
years from now rooting for $25 silver.
38:41
Well, I don't think so. I think 10 years from now I'll
38:44
be sitting in my basement because I will put out a new
38:46
video every day for the rest of my life.
38:48
The least you could do for me, The least.
38:53
I'm just joking. You guys are great, but please
38:55
give it a thumbs up and subscribe.
38:57
Subscribing is free if you're not a subscriber.
39:00
We talk about silver, gold, platinum, Palladium.
39:02
But the best part of this channel is you is the people
39:07
that are here get to know some of the people in the chat.
39:10
If you subscribe to the channel, you can engage in the chat.
39:13
And then we're going to have a new big chat room coming soon at
39:16
www.ronsbasement.com, where you'll be able to go 24 hours a
39:21
day and harass your fellow basement dwellers.
39:24
Hang out, meet people, OK? Because I'm telling you, a lot
39:28
of people have made some good friendships on this channel.
39:31
And that's not because of me. I'm not.
39:32
I mean, I'm the conduit. It's not ROM Tube.
39:35
It's YouTube. Absolutely not ROM Tube YouTube.
39:39
And I'm telling you, when we get to 85 dollars silver, I know, I
39:45
know we're going to get to 85 dollars silver.
39:48
I know, do you get that feeling when you buy silver in
39:51
particular and maybe with gold too, but I'm going to talk about
39:54
silver when you buy silver and I've been buying, sorry,
39:59
converting Fiat to, to, to, to metal, that you're buying
40:04
something that's going to be valuable.
40:07
For years and decades to come. I don't know.
40:10
Like I said, don't make any financial decisions based upon
40:13
anything that I share with you. But.
40:16
But I think we're heading towards some good days.
40:19
I really appreciate you. Yes, you being here, you really
40:22
are the most important part. Be good to yourself.
40:24
Be as good nice to yourself today as you can.
40:27
And that will it works. Trust me.
40:30
I struggle. OK?
40:31
I'm. I'm a human.
40:33
I was actually crying out here this morning.
40:35
I have to be honest, I get up real super early and I'm at the
40:38
Ombe and I'm like a happy cry. But you know, like like always
40:42
try to do your best to be nice to yourself.
40:45
It's like the best place to start.
40:47
And actually the people that are around you benefit more when
40:52
you're at peace internally. And this is not a self help
40:55
show. So I'm going to shut up.
40:56
This is a silver and gold show. Have a great day.
40:59
OK. I'll see you guys soon.
41:01
Thank you. Thanks to all the moderators.
41:03
You guys are the best.