Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **THIS is BIG!** 🦍🦍 SILVER Just had a MASSIVE Change... (PRICE SMASH!) Gold - Precious Metals News

Transcript

**THIS is BIG!** 🦍🦍 SILVER Just had a MASSIVE Change... (PRICE SMASH!) Gold - Precious Metals News · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
History being made in the precious metals markets, the
0:05
silver price, the gold price. Actually, what happened
0:08
yesterday defies history. I'll explain more about that as
0:12
we move through this video. Also, big, big warnings coming
0:16
out about what this unbelievable move in the price of silver
0:21
yesterday could be signaling not just for the future of the
0:25
precious metals markets, but the markets in general.
0:29
Guys, I don't want to somebody who's trying to scare people out
0:32
there, but some very smart people are saying some very,
0:36
very scary things. But one thing for sure that's
0:38
not scary is that you decided to join me down here in the
0:42
basement today. Thanks for being down here.
0:44
We are moving through some crazy emotional times.
0:48
I don't know that I slept much last night.
0:50
I've got pages and pages of notes, but we want to talk about
0:54
what is what happened. We're going to try to make a
0:56
little bit of sense out of what happened.
0:58
There's a lot of different theories being floated out there
1:00
right now, but more importantly, visit what we think will happen
1:05
in the coming months, quarters and years.
1:08
We want to have a long term perspective on this.
1:11
I'll share a story with you. It was about 8 years ago, Susie
1:16
and I dropped off our then like 4 year old twin daughters at my
1:19
parents house and we were going out to eat.
1:21
I had always been investing in gold and silver and precious
1:25
metal mining stocks. It was a Sunday night, I was
1:28
feeling OK, pretty good about my investments in silver and gold.
1:33
I've never been very diversified if you know what I mean.
1:36
And we were sitting at dinner and I thought, and I wanted, I
1:39
like, I knew, let me say this. I knew back then 8, 10 years ago
1:44
that gold and silver were undervalued.
1:47
But we're sitting at dinner, it's Sunday night.
1:49
And I just happened to pull up my phone to look at the when the
1:53
market open to look at the price of silver and gold.
1:55
And gold was down $100. You know that feeling right now?
1:59
This was when gold was it about 11-12 hundred dollars per oz.
2:04
And silver was like it's $17.00 per oz.
2:07
I think silver was down like a whole dollar.
2:09
So the price had gone down about 10%.
2:12
This was in the Sunday, Monday night, I guess when the Comex
2:15
open, whatever, you know, the market that opens on Sunday
2:17
night at 4:00. And I just had that sinking
2:20
feeling of panic, right? Maybe similar to what a lot of
2:23
people are feeling right now. I lost my appetite.
2:27
I remember we were at dinner and I thought, Oh my gosh, what's
2:29
going to happen? And then I, but I knew and I
2:32
knew and I believe that that silver and gold were going to go
2:36
much, much higher. Remember gold was at $1200 on
2:40
that night and it dropped to like 1100.
2:42
It was like $100 drop again, massive, almost the same
2:46
percentage wise as we had yesterday.
2:50
And over the coming days I realized like, you know what, if
2:53
you're going to be in something and you believe in something and
2:56
you really objectively look at the facts involved, then stick
3:00
with it and and see what happens.
3:02
And Fast forward to today, right?
3:04
If I could go back and tell that same guy eight years ago that
3:08
the gold price would still be close to $5000 per oz that
3:13
silver, that old Smitty the Silver Bear would still have his
3:17
$85 silver blindfold off, I would be jumping for joy.
3:22
But let's talk about now, right? Let's talk about what's
3:25
happening right now, what has happened and why yesterday was
3:29
such a historic event on many levels, not just historic, but
3:34
it defied history. It should not have happened.
3:38
OK. And I'm going to show you why in
3:39
just one second because I know one thing that did happen.
3:42
You've to come down and join me here in the basement.
3:45
Thank you, right? Your time is valuable.
3:48
I want you to feel like you found a little home away from
3:51
home down here in the basement. We love to talk about gold,
3:54
silver, precious metal mining stocks.
3:57
Please subscribe to the channel that's free.
3:59
Give that video, give it a thumbs up.
4:01
That helps get the word out to more and more people.
4:04
Leave a comment so we can learn from you in super chats.
4:07
Never, ever, ever expected, but always appreciated.
4:11
And thank you to the people out there that have donated to us on
4:14
PayPal as well. Now look at this.
4:16
This proves yesterday should not have happened.
4:21
OK, wait till you hear this. Yesterday's event, OK, from the
4:26
serious report was a 10 Sigma event, right?
4:30
Which is a statistical term that measures standard deviations.
4:35
A10 Sigma event is engineered because it only happens every
4:40
5.25 septillion years. Don't worry, we're going to
4:45
explain what a septillion is because the septillion is A1
4:49
followed by 24 zeros. Just for reference.
4:54
OK, a million is 1 followed by 6 zeros.
4:58
A billion is 1 followed by 9 zeros.
5:02
A septillion is A1. Go ahead and write it down
5:05
yourself right now. Write down A1 and then write 24
5:09
zeros. But that's only supposed to
5:11
happen not in not one in septillion days, but one in a
5:16
septillion years. Basically it is impossible
5:20
unless it is engineered. That's what happened today.
5:24
That was yesterday. He was referring to yesterday.
5:26
Anyone claiming this was a normal market move today either
5:31
doesn't understand markets, is plain idiotic, or has nefarious
5:36
intent to deceive you. So what happened yesterday,
5:39
guys, is I have dug into this over the last hours, deeply,
5:45
deeply, OK? We either had a highly
5:47
coordinated takedown by the big Western banks, the big shorts,
5:52
OK, maybe China was involved. There's some people that are
5:55
thinking China was involved and or the entire system.
6:01
OK, we're going to talk about that.
6:02
The big banks, the stock market, everything is in big trouble or
6:07
a combination of those. Yes, silver had gone through a
6:11
rather parabolic move, but what happened yesterday, yesterday
6:15
should not have happened. OK, once in a septillion year
6:20
event does not happen unless highly engineered.
6:24
And you know, silver is one of the oldest, oldest markets in
6:28
the world. OK Now did it happen in the
6:31
paper market? Let's go look.
6:32
Yeah, I mean, really think about it.
6:34
What happened yesterday happened in the paper market.
6:38
It didn't happen with this stuff with physical silver.
6:42
That's a one ounce silver round from channel sponsor first meant
6:46
no, it happened in the paper market.
6:48
And let's go take a let's take a look and check in on how much
6:52
paper silver actually traded yesterday.
6:56
OK, International Stacker Comex posted the data for yesterday
7:00
and a shocking 1.842111 billion billion wow, 1,842,000,000 fake
7:13
paper ounces of trader of of silver were traded on the COMEX.
7:18
That's more than the annual silver production of
7:21
835,000,000. It's actually more than twice of
7:25
the annual physical production. Again, mines around the world
7:29
working 365 days a year, seven days a week, 24 hours a day,
7:34
producing silver. OK, all the silver that all the
7:38
silver mines produce over the course of the year in the COMEX
7:42
traded more than twice that amount in one day.
7:46
And here's a chart down here of the actual open interest.
7:49
It says this is the second. Oh, this is, he says.
7:52
It's hard to confirm, however, but this is the second largest
7:56
trading volume, Day 4 silver in the history of the COMEX.
8:02
Now, is this a declaration of war?
8:08
It's it. This is we are in crazy
8:11
unprecedented times in the world of precious metals.
8:15
Let's go. We've got some great information
8:17
that came from metals and miners about what is what happens and
8:21
what is actually going on right now.
8:23
This is from the metals and miners sub stack.
8:26
I've got a couple paragraphs I want to read to you because this
8:29
explains the situation that silver and gold investors are in
8:33
right now. Says these are not hold on here
8:37
again I'll go back up to give them proper credit.
8:41
Oh here we go to the very top metals and miners sub stack and
8:45
now we're on the right screen. Sorry guys, we're we are super
8:49
busy in real life also upstairs. Susie's not here to help me
8:52
today, but here it is, right here in red.
8:54
These are not normal market moves.
8:56
This is a declaration of war. It is a calculated, vicious,
9:01
deliberate attack designed to inflict maximum psychological
9:05
pain, to shatter our conviction, and to terrify us into
9:09
surrendering our position right before the next major light leg
9:14
up. Many call this quote resetting
9:16
sentiment. Others call it out and out
9:19
attack. How do I know?
9:21
Have a look at the Shanghai price.
9:23
A 60% premium chasm has opened up.
9:26
Or even India's. They're telling a much different
9:29
story regarding the same metal. And I've got some new data from
9:32
China that we're going to look at at the end of this.
9:35
It's the tale of two metals. It's almost as if someone felt
9:40
they had to do this to save themselves or to better position
9:44
themselves. You decide for yourself.
9:46
And that shows the premiums on the Shanghai spot, in the
9:51
Western spot. And also that's, well, that's
9:55
just Shanghai. And as you can see right here in
9:57
green, right, a $45.00 premium. Now again, the Shanghai market
10:02
will open earlier tomorrow, so we'll see what happens there and
10:06
I've got some up to the up to date information about what is
10:10
happening in China. And again, we'll look at that it
10:12
towards the end of this live stream.
10:15
They're using the chaos to weave a narrative of fear, uncertainty
10:18
and doubt and to show they are right in their analysis and have
10:22
this whole thing all figured out.
10:24
And it isn't very hard after after the beating that we all
10:28
took yesterday. They want us to believe as they
10:31
do, the fundamentals no longer matter, right?
10:34
The debt crisis is solved, but the dollar is king and always
10:37
will be. And that we're going back to the
10:40
to the market and hegemonic world positioning of the past
10:43
several decades. That the pricing in Shanghai in
10:46
India, that doesn't matter. And that we were a fool to ever
10:50
believe in precious metals to begin with.
10:52
Do you feel it? The last paragraph in red, point
10:57
blank. They want us to sell and get out
10:59
for good. They want us to sell.
11:01
They need to be right. And the pit in our stomach as we
11:04
watch our portfolio values temporarily get vaporized.
11:08
It makes us feel the cold dread creeping in and we start to ask
11:12
ourselves the scary questions. Were they right?
11:15
What if this really is the top? What if I lose everything?
11:18
What if the thesis was completely dead wrong?
11:21
What if this goes sideways down for the next several years like
11:26
he said, and this is a critical point for us to remember, OK,
11:31
the the documents that were leaked from when they set up the
11:34
futures markets back in the mid 70s explicitly say that one of
11:38
the purposes of the futures markets was to induce volatility
11:42
into the precious metals markets so to dissuade or discourage
11:48
retail investors from owning precious metals.
11:52
OK, that was a leaked document. It's out there.
11:55
I've shown it before. I'm sorry, I don't have it
11:57
prepared to show for you today, but that was the So what do you?
12:01
So what happened yesterday? Doesn't it make sense, right?
12:04
Have the fundamentals changed? Have if solar panels stopped
12:08
using silver or solid-state batteries that are going to use
12:12
potentially a kilogram of silver each, if they've been cancelled,
12:16
you know, did an asteroid enter the atmosphere that's made out
12:21
of pure silver that we're just going to get?
12:23
No, things have not changed, OK? These big banks were positioned
12:28
in a way that they were losing a lot of money.
12:31
Look, speculation, right? Then we won't go too far down
12:35
that rabbit hole. But what happened yesterday, if
12:38
it's only supposed to happen once and every a septillion is
12:42
the same as a billion times a billion times 1,000,000 if my
12:48
math is correct. All right, what happened
12:50
yesterday? Look, they can only play these
12:53
games for so long. I could be wrong.
12:55
Remember, I'm not a financial advisor.
12:57
Please don't make any financial decisions based on what I'm
13:00
saying. It's what I believe, what I know
13:02
is true, and I talk my truth when I'm down here.
13:06
But man, it just doesn't feel like like like things are going
13:10
to get any better next. Are we in for?
13:12
Is this something worse than what happened in the great
13:15
financial crisis? Some very smart people, very,
13:19
very smart respected people are pointing out that what happened
13:22
yesterday in the I mean, think about it, This was the precious
13:26
metals market, the, the, the safe haven, the, the, the
13:31
timeless 5000 year old markets that right, we're talking about
13:35
assets and they what happened yesterday and those if it's it
13:40
happened in those markets, what could happen in the other
13:43
markets, cryptocurrency, the stock market and in general, I
13:47
mean the stock market is based on a lot of fluff, Let's put it
13:52
that way, right, the stock markets at Nosebleed highs.
13:55
We're going to talk about that. We'll do that next.
13:57
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firstmininggold.com. Now let's get scared.
15:06
I'm not trying to scare you, but these this is a guy who's very
15:10
smart and very much respected who's saying that that we could
15:15
be in for not just what what we saw in the precious metals
15:19
market yesterday could be just a bit of a harbinger for what's to
15:23
come. Let's go out and check out what
15:26
Larry Leppard is saying. Larry Leopard owns a a big
15:31
financial company. He has a master's degree from
15:35
Harvard. He's all over YouTube.
15:37
He's super smart, A guy that I followed now for gosh probably 8
15:42
or 9 years and he said this yesterday.
15:45
We're going to come at this point 1st and then get to some
15:48
something very scary. He says, I agree with this
15:51
Weimar like volatility. What they're talking about is
15:55
when in Germany, when the Weimar Republic fell in, the Deutsche
16:00
mark went. That's when people went, went.
16:02
We're using wheelbarrows full of paper money to buy loaves of
16:06
bread when you could buy an apartment in Berlin for like, I
16:11
think it was like 5 or 10 ounces of silver.
16:14
There was massive volatility during that period in the price
16:18
of gold and silver as measured in the German Deutsche mark at
16:23
the time, he said. See my post of the war Riki man
16:26
chart. Stuff is breaking.
16:29
Stocks are next in my opinion. Know what you own, know why you
16:34
own it. I don't use leverage.
16:35
Today I made large buys a Bitcoin MSDR and selected silver
16:40
mining stocks. 20% off sale on silver mining stocks.
16:44
He was replying to this post from Whale Guru.
16:47
Today's just not a gold and silver crash.
16:50
Today is bigger than 2008. Gold down 20%, Silver down 30%
16:56
in a single day. A 40 plus trillion combined
17:00
market. Just violent repriced, I think I
17:03
read like $7 trillion. This does not happen in safe
17:07
haven havens. This does not happen in orderly
17:11
markets. This only happens when systems
17:14
break internally. Gold and silver became the
17:17
ultimate safe haven leverage bet institutions, large funds,
17:21
commodity death, sovereigns long only allocators believe that
17:24
these markets cannot crash. And guys, and then we're going
17:27
to get to another warning from Larry Leopard.
17:29
But another thing that happened over this week weekend is we had
17:32
a regional midsize bank in Chicago fail.
17:36
And again, some people speculate that that hate that might have
17:39
had something to do with what's going on.
17:42
I don't know, right? We'll see what the coming week
17:44
spring. I don't want to be a the sky is
17:46
falling kind of guy. But if you think about it, just
17:49
take a step back and think about it, right?
17:51
Gold and silver are the oldest markets in the world, okay?
17:56
Gold and silver are universal, that they're completely
18:01
decentralized stores of value. They are valuable everywhere in
18:06
the world and they have been for like all time for that to
18:11
happen. What happened yesterday in the
18:13
silver and gold markets doesn't feel like, does it?
18:17
Does it make sense, like it would happen in a vacuum that
18:20
there would be massive repercussions that we could be
18:23
in for some interesting times ahead.
18:25
Let's go look, take a look at this.
18:27
Another reason why we need to keep our heads pulled out of the
18:31
sand because Larry Leopard said this.
18:33
He said, I've said it before and I'll say it again, what happened
18:38
in silver on Friday, yesterday is a Lehman Brothers.
18:42
This is 2008 redux. So what he's referring to is
18:46
that Lehman Brothers was the 1st the, the first problem that
18:51
really showed up on the radar screen during the 2008 financial
18:55
crisis, OK. And that what what we saw in
18:58
silver yesterday is the same thing as that and that we could
19:03
be heading into heading into some very, very scary, scary
19:08
times ahead. We'll see how it all plays out.
19:12
But again, these things don't happen in a vacuum.
19:16
And when you think about, when you think about the stock
19:19
market, when you think about, I mean we didn't, we don't even
19:22
talk about this enough. But what happened and, and it's
19:25
been kind of kept undercover in the mainstream media.
19:29
But the Japanese bond market in the past two weeks, the US had
19:33
to intervene. These were but before the 10
19:36
Sigma event that we had on Friday and silver, we'd had like
19:40
5 or 6 Sigma events in the gold market in this in the another
19:45
previous one in the silver market in the Japanese bond
19:49
market. You know, we know about all the
19:51
debt. We don't have enough time today
19:53
to go through go look at the US debt clock.
19:55
But all the debt in the world, the stock markets and kind of a
19:59
bubble residential real estate. I can't believe what I could
20:02
quote UN quote sell this basement for right now or your
20:06
house, right? A lot of people think are in is
20:08
in bubble territory. Commercial real estate, the bond
20:11
market, it's going to be, I don't know.
20:13
We'll see what happens. We will see how it all plays
20:16
out. All right, let's talk about
20:17
some. More interesting are there other
20:19
reasons why interesting coincidence with what occurred
20:24
yesterday in the silver and gold markets?
20:28
Because there are a few more things we want to look at
20:30
interesting pieces of data. Jared Tate said this.
20:34
Silver down from $122 to $78 in 24 hours.
20:42
Oh, interesting. It's the last day of the month
20:46
and the day of physical settlement.
20:49
This is 100% manipulation by Western banks.
20:52
Silver still $123 on the Shanghai exchange.
20:56
We're going to get some really recent data from China here in a
21:00
little bit. This is East versus West.
21:03
So it's the end of the month, right?
21:05
So that's when a lot of reports, that's when a lot of statements
21:09
go out. That's when a lot of financial
21:12
reporting periods end. And it's interesting that this
21:16
happened on the last trading day of the month and the last day
21:20
for physical settlement. All right, let's move on to the
21:22
next one. Here we go.
21:24
This is but we, we know, right, guys, we know, right?
21:28
The banks, the big banks, they would never manipulate the price
21:32
of gold and silver, would they? No, they would never do anything
21:38
nefarious when it comes to precious metals.
21:41
No. Right.
21:42
Well, let's take a look. We got some evidence we can look
21:45
at here that we've talked about but recently have not pointed
21:49
out because this is interesting. Serenity shared.
21:52
Five major banks were criminally charged for manipulating silver
21:58
markets. These fines totaled $1.2 billion
22:02
for quote manipulation of silver markets through spoofing and
22:06
price rigging. Silver crashed 28% on Friday,
22:10
triggering trillions and losses. Here are the charges just to
22:15
review. Oh, JP Morgan comes in at #1 had
22:18
a 920 million, almost a billion dollar fine in 2020.
22:23
They admitted admitting to wrongdoing for market
22:25
manipulation of silver to the US Department to Justice, and a
22:30
couple guys went to jail over that.
22:32
By the way #2 Scotia Bank, $128 million in 2020, U.S.
22:38
Department of Justice fraudulent and manipulative trading
22:41
practices in the markets for silver.
22:44
HSBC, only 80 million was a CFTC enforcement for 2011, 2020
22:51
spoofing Deutsche Bank, a little $80 million fine, right?
22:57
A silver fix settlement and CFTC actions for 1999 through 2014
23:03
rigging and Morgan Stanley, a poultry 1.5 million CFTCFTC
23:09
civil penalty for 2013, 2014 spoofing.
23:14
The credit goes to NAB Noor Bawa on that one.
23:18
OK, so hold on here. Hopefully we're still live.
23:22
Hopefully you guys can still see me and hear me look.
23:29
Let us review what happened on Friday.
23:32
Could not happen. It was a statistical
23:35
impossibility. What's more importantly, it's
23:38
psychological warfare to a certain degree.
23:41
OK, again, somewhat speculation, but somewhat truth.
23:45
We know, we know that the big banks, we know that that some of
23:49
the big governments around the world do not want the silver
23:52
price to go high. But we also know that we are
23:55
living in a new paradigm for gold and silver that right now
24:00
2026, hard to believe that, right, that we are in a
24:05
situation that is way different than than what what it what the
24:09
world was going through over the last 50 years geopolitically,
24:13
right? You know, there's so much going
24:16
on, but also from a financial perspective, the amount of debt
24:20
in the world and when geopolitical, when countries
24:23
don't get along with each other, right, when countries isolate
24:27
themselves, OK, they don't trust each other, they don't trust
24:30
each others paper promises. And remember this, this little
24:35
thing, right? Our favorite, the paper dollar,
24:38
is nothing but a promise. It's not based on anything,
24:43
right? Japanese yen is a paper promise,
24:46
right? The Swiss franc, I think it is
24:48
paper promise. The euro paper promise.
24:51
The Chinese yuan, well, maybe kind of sorted backed by gold,
24:55
but you get my point. We are living in a whole new
24:59
environment. This was engineered if there's
25:03
no other way around it, right? Like this, according to the
25:06
statisticians, and they've only got, you know what, silver's
25:10
only been traded officially, I guess you would say, for
25:14
thousands of years. It's the oldest market out
25:16
there. What happened on Friday should
25:19
not could not happen. One more, another point.
25:22
Sorry guys, we are all over the place and I am working on not a
25:26
lot of sleep, but here this is and then we're going to go to
25:29
China and see what's happening in China.
25:31
But Northstar, and this is Northstar Bar charts 143,000
25:36
super respected person in the world of precious metals pointed
25:39
out something great. Nine months ago, silver was
25:43
trading for $30 per oz. Silver fell $30 per oz in the
25:48
last 24 hours, but still is 3 times what it was nine months
25:54
ago. Let that sink in, OK?
25:57
And there's data out there about the month of January, believe it
26:02
or not, guys, silver was up and up pretty big during the month
26:06
of January as well, right? I think it was the ninth
26:08
straight month that silver went up in price, which is a record.
26:12
So, you know, I know yesterday stunk.
26:15
I know it feels like that article said discouraging,
26:19
right? That's normal.
26:20
But Please remember it's part of the process.
26:24
You know what, we're going to go out, we're going to get some
26:26
great data from China, an update from what's going on in China on
26:30
the ground, a very, very, very recent and timely update.
26:34
But let's just go out and take a look, see if we can take a look
26:37
at the updated silver chart and should be on your screen right
26:43
now. OK, there we have it.
26:44
Wow, man, I thought there were circuit Breakers.
26:50
I'm sorry, I can't cover everything because somebody
26:52
pointed that out also, right? Like their circuit Breakers, if
26:55
a, if a price of gold or silver goes up too much, they shut the
26:59
market down. And I thought they were supposed
27:01
to do that on the downside as well.
27:03
So here's the one year chart of silver.
27:06
You know what's interesting, let's just draw on here for a
27:09
second. You know, we talked about this
27:11
many times, OK, If we go back and let's say we start in April
27:17
of last year and draw just kind of follow the trend as it
27:21
developed. I mean really, really we are
27:27
like right on that long term trend line, if you see what I'm
27:30
saying, like right here is where obviously we are and we've not
27:35
broken through that. Let's look at and now if we look
27:38
at a long term, longer term chart, it's going to look
27:41
uglier. What happened?
27:42
But still, huh, that's interesting the price of silver
27:46
now if we drop down below and get a close in that 70 range,
27:51
you know, even guys, even if we even if we consolidate in the
27:55
let's say $70 and I don't think we will and I might hope, you
27:58
know, obviously I'm not hoping for it.
28:00
I want old Smitty back there, the silver bear to keep his
28:04
blindfold off. But but even if we do right can
28:08
get breakdown and consolidate in the $6070 per oz range.
28:14
I mean, my gosh, that you know, still helps us build a massive
28:19
foundation as we look out. You know, this is not a A1 day
28:24
at a time thing, although Friday it was.
28:26
We're looking out months, quarters and years.
28:28
It helps us build a solid foundation all the weekends.
28:32
Think about this, any of the short timers that weren't really
28:37
truly convicted had didn't really have strong conviction to
28:40
the silver thesis. It probably gotten out now
28:43
Friday shook them out and it may happen more over the coming
28:47
weeks. But what we're going to do at
28:49
some price level is rebuild OK on top of what's already a
28:55
strong foundation of people that believe the silver price can go
28:59
much, much higher. Let's go over to China and see
29:02
what's happening there. A very interesting data shared
29:07
with us from China. Hold on one second.
29:10
Yep, here we go. And Yep, I'm going to get the
29:15
right screen up. This came from Mr. Lee, David
29:19
Lee, a very, very trusted source in China, He said the day after
29:24
the silver price collapse, the Shenzhen Shubai gold market is
29:28
packed with people. Now.
29:30
The Shenzhen Shubai gold market, as I understand it, is one of
29:34
the largest in the world, and it is packed with people, says.
29:40
But pricing of merchandise, jewelry price, not just metal,
29:44
is becoming tricky. This is where it gets
29:46
interesting, guys. The shops are selling at the
29:50
Shanghai Gold Exchange price, which is 5640 for gold and $136
29:58
per oz for silver, while buying back at global prices of 4800
30:04
for gold and $91.00 for silver. Let's see.
30:08
Yep, I think we got a little video.
30:11
Hold on a second. Hold on.
30:14
Let me start this over. So this is live footage just a
30:17
few hours ago from the Shu Bay Gold Exchange market in China
30:23
and silver market, which is one of the largest in the world.
30:26
Let's see if there's any people there.
30:36
What's it like? There's some people there.
30:47
What'd she say? I don't know.
30:49
I can't I don't understand Chinese.
30:51
All right let's go back here. There's the prices there.
30:54
One more interesting data point. This is from Eric Yong King Kong
30:59
988. Another super respected person
31:02
with great information from China says the big oh, this is
31:07
interesting. The biggest precious metal
31:09
recycler in China, Rong Tong Gold is not, excuse me, is now
31:14
offering Chinese consumers A buyback price for silver at the
31:21
US dollar equivalent of $101.00 per Troy oz, which is exempt
31:27
from the value added tax, well above the prevailing
31:31
international silver spot price levels during weekend physical
31:35
silver trading. So interesting information from
31:38
China at their biggest market, the Shu Bay market, OK, they're
31:42
selling to people at $136 per oz for silver.
31:46
They're buying back, what was it, $90.00 per oz.
31:49
However, China's biggest metals recycler will pay you and me
31:55
right now if we got on a boat together, a ship, an airplane, a
31:58
private jet, whatever you prefer and went to China with this one
32:03
ounce, right? This is this is the one ounce
32:06
Las Vegas round from first met. Look at that thing, boy, you
32:10
know what? Silver is still so beautiful,
32:16
right? So nothing's changed.
32:19
More on that in a second. We could bring this to China and
32:23
sell it apparently easily for $100 per oz.
32:27
I would never do that because this is so beautiful.
32:29
I wouldn't send it to a scrap yard, But I want you to think
32:32
about something else really powerful on Thursday of last
32:37
week. Right.
32:39
What was this? This was an ounce of silver.
32:41
Yeah. If you decide to use the US
32:43
dollars, the unit of measurement, it was worth
32:46
$120.00. OK on Friday.
32:49
We know what happened today. What is this?
32:52
Guess what? It's still an ounce of silver,
32:56
OK? And it's been about your great
32:58
great grandpa and your great, great grandpa's great great
33:02
grandpa right from back in the, I don't know, the 1400s.
33:06
This was valuable back then. It's still valuable today.
33:11
Back then, this was, they didn't even have U.S. dollars back
33:14
then, This was an ounce of silver.
33:16
Today, it's still an ounce of silver.
33:19
It goes back to that super important concept, and I'm
33:24
guilty of it as well. We think of silver, gold, we
33:27
think of so many things. We value it.
33:29
We're brainwashed. If you live in the United
33:31
States, whatever country you're in, if there's a Fiat currency,
33:34
you do the same thing. EUR, yen, whatever.
33:37
We think of it in terms of Fiat terms, right?
33:40
It's not right. This was around long before Mr.
33:45
Fiat came around, right? This was around thousands of
33:50
years and valuable, and it will remain valuable.
33:53
Hey, guys, thank you for joining me today.
33:56
Susie's not here to help. Oh, looks like I got a super
33:58
chat Twisted clown. All right, That's 115th of a
34:03
house. Hey, you know what, you never
34:07
know. You really never know.
34:09
I was on a podcast yesterday with a big crypto guy and, and,
34:16
and, and you know, I, we said that he asked me like, how high
34:18
do you think the price of silver can go?
34:21
And I said, what time period? He said like the next 10 years,
34:25
like the price of silver. I can't even, I mean, I can
34:28
easily, what do you think? Like I can easily see if
34:32
measured in U.S. dollars, it could be 505,050 thousand, it
34:38
could be Infinity, right? Because the way we're headed
34:41
with the US dollar in the devaluation of the currency, who
34:45
knows how high these things can go.
34:47
All right, guys, thanks again. Please subscribe to the channel
34:50
if you haven't already. I want you to come back to the
34:52
basement. We have a lot of fun down here.
34:54
We show up right on good days, bad days, every day in between
34:59
because we're here for each other.
35:01
It's a great, great community. So again, please subscribe to
35:05
the channel, give it a thumbs up, OK, and I'll see you.
35:08
I'll be on tomorrow. I'm scheduled to come on around
35:11
11:00 AM Central tomorrow. I'll look forward to seeing you
35:14
then. Have a great night.
35:16
Thank you for being here. Bye bye.