Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚡Silver Shock⚡ – You NEED to See This Before the Next Move! (Gold & Precious Metals Update)

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⚡Silver Shock⚡ – You NEED to See This Before the Next Move! (Gold & Precious Metals Update) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  We are living through historic times in the precious metals
• 0:04
  markets. The silver price and the gold
• 0:06
  price could very well go to levels that we could only
• 0:10
  imagine just a few short years ago.
• 0:13
  We're going to look at all the reasons why in this live stream
• 0:17
  video. Have you heard there's a lot of
• 0:19
  analysts out there right now calling for $100 silver, $200
• 0:24
  silver? I've even heard a few talk about
• 0:27
  500 and $600.00 per oz silver. The sky is really the limit.
• 0:32
  Hey, our first target is $85 per silver.
• 0:35
  There's our cute little silver bear with his $85 blindfold on.
• 0:41
  We'll take that off. We'll have a big party down here
• 0:43
  in the basement when silver hits $85.
• 0:47
  And the way things are going, that could happen sooner as
• 0:50
  opposed to later. I have one question for you.
• 0:54
  Are you ready? And I have one statement for
• 0:56
  you. Thank you for joining me down
• 0:58
  here in the basement. It really is a big deal when you
• 1:01
  choose to come down here. Give us your time.
• 1:03
  We appreciate you. Please subscribe to the channel.
• 1:07
  That's free. OK?
• 1:08
  Leave a comment in the comment section and share it with
• 1:11
  whoever you like. Let's get more people involved
• 1:14
  in the world of silver because there's a lot to be excited
• 1:17
  about, including this. Let's go out to see NBC and take
• 1:21
  a look at what happened in the silver market on Friday there.
• 1:26
  We are $40.26 on Friday in the futures market guys.
• 1:32
  But what's key on this chart that I want to show out show you
• 1:35
  is this OK? When you look at the this goes
• 1:38
  back to 2011 and when you look at 2011, these are quarterly
• 1:43
  closes. So it doesn't even show the big
• 1:45
  spike up to $50 during that time period.
• 1:49
  But look how fast silver went up during that period and then of
• 1:53
  course it went right back down. What I want you to look at is
• 1:57
  what we've been building now for probably almost 10 years from
• 2:01
  around that now 2017, 2015 range.
• 2:05
  We have had a nice steady progression in the silver price.
• 2:11
  What that means is there's been a lot of support built
• 2:15
  underneath where we are now. It hasn't been a rocket ship
• 2:19
  ride up, right? We weren't at $20 two months ago
• 2:23
  and at $40 now. No, it's been a nice general
• 2:26
  steady ride up like I've talked about, like we talked about many
• 2:29
  times. Sure, we hit some bumps in the
• 2:31
  road, right, But that got rid of the weak hands and brought
• 2:35
  strong hand people into silver. So I believe if we are set up on
• 2:39
  this chart to continue to do well.
• 2:42
  Other key points to remember about this big silver close on
• 2:46
  Friday, That was the end of the month.
• 2:48
  From a technical perspective. That's a very, very important
• 2:52
  thing. And it was the first time since
• 2:54
  2011. Do you remember that?
• 2:57
  Seems like only yesterday, however, almost 15 years that
• 3:01
  the silver futures market crossed over $40 per oz.
• 3:06
  So we got a lot to look forward to.
• 3:08
  And let's just take a quick look at what happened back in 2011
• 3:12
  when silver went on that rocket ship ride.
• 3:15
  I'm going to share this screen with you right now.
• 3:19
  And this comes from, let's give proper credit where credit is
• 3:23
  due. This comes from Gold Ventures
• 3:28
  and it talks about when silver went on that massive run back in
• 3:31
  2000. I mean, look at how look at how
• 3:33
  exaggerated how fast that move up, move up was.
• 3:37
  You know, could we see that again?
• 3:39
  Yes, we could. I'm going to tell you a little
• 3:40
  bit later in this video what I'm expecting over the next month
• 3:44
  out of the silver and gold price.
• 3:46
  But it sure feels like, and we're going to talk about the
• 3:49
  COMEX, we're going to talk about the LBMA.
• 3:51
  There's all kinds of craziness going on right now, but one more
• 3:55
  thing we want to look at quickly is the dollar index because that
• 3:59
  has a lot to do with what we can also expect here in the future.
• 4:04
  The DXY closed on Friday right under 989786.
• 4:10
  There's a one day chart, but what we really want to look at
• 4:13
  is this long term chart because of one reason and one reason
• 4:18
  only. If you go back to 2001 and look
• 4:21
  at the DXY, it's probably what about 120 from 2001 to 2011, the
• 4:28
  dollar went into a bear market. The DXY during that same period
• 4:33
  of time, that's when the silver price went from $5, OK and added
• 4:40
  a zero at the end all the way to $50.
• 4:43
  Why is that important? Because right now we are
• 4:48
  breaking down below this key 100 level on the DXY index.
• 4:54
  We've been below now for what 3 or 4 weeks feels like, and it
• 4:57
  can get down as low as or even potentially lower 75 where it's
• 5:02
  been in the past. And again, remember, one of the
• 5:05
  major things that fueled that rally from 01 to 2011 was a
• 5:11
  precipitous decline in the US dollar.
• 5:14
  And let's just say this, we have a current administration in
• 5:18
  Washington, not a political show by any stretch of the
• 5:21
  imagination, that has pretty much telegraphed to us that
• 5:25
  they're in favor of a weaker dollar.
• 5:28
  Buckle up, guys. There's a lot more good to come
• 5:31
  in the world of precious metals. But somebody's not happy about
• 5:35
  this. You ready for a little humor?
• 5:38
  This is a good one. Vince Lancey shared this one and
• 5:42
  I think it it definitely needs to be watched by us.
• 5:46
  These are let's get up here and give him his his proper credit.
• 5:50
  VBLS ghosts Vince Lancey, one of the smartest, sharpest minds in
• 5:54
  the precious metal sector. He says up.
• 5:57
  I forgot to read it to you. Hold on.
• 5:59
  Sorry, guys. Indian women upon finding out
• 6:02
  that their husbands took profits in silver last week.
• 6:07
  So the Indian women found out that their husbands had sold the
• 6:09
  silver and weren't participating in this recent rally.
• 6:13
  And this is. Who knows, right?
• 6:29
  We never know where the price is going to go.
• 6:30
  Let's go out and look one more time because it bears reporting.
• 6:34
  Repeating. Eric Young, King Kong 988-ON X
• 6:38
  is telling us $50 silver equals 45 years in the making.
• 6:44
  And guys, don't forget this. The most beautiful thing
• 6:47
  happening right now in the silver market, the cup and
• 6:50
  handle pattern. For those of you who are new,
• 6:53
  because we have a lot of new people, this is 1980 when silver
• 6:57
  was around $50 per oz. This is 2011 where it got up
• 7:01
  there again, like we just looked at that's the cup, this is the
• 7:05
  handle, and it is like one of the best textbook cup and handle
• 7:10
  patterns in the history of the world.
• 7:12
  They're saying that this one will be talked about for the
• 7:15
  Millennium and we are participating in it.
• 7:18
  I know that on some time frames, I think maybe quarterly or in
• 7:22
  semi annually, it officially has already broken out.
• 7:26
  So we'll see. From a Candlestick perspective,
• 7:28
  it's just going to be absolutely exciting.
• 7:30
  The other interesting thing that is going on with this right now
• 7:35
  is that embedded within the handle of the cup and handle.
• 7:38
  Can't really see it too well here, but there's also a couple
• 7:42
  smaller cup and handles, kind of like those Russian nesting
• 7:45
  dolls. Double whammy bonus, however you
• 7:48
  want to say it. Look, the Comex and the LBMA,
• 7:51
  I've been following the silver and gold markets for decades and
• 7:55
  people, there are some people who dig into this minutiae data
• 7:59
  that comes out of the Comex inventories, the LBMA, all these
• 8:03
  different relationships. I've been digging into it this
• 8:05
  weekend. I'm not going to like, I don't
• 8:07
  want to say bore you because some of you really enjoy it and
• 8:10
  that's great. But the take away from all this
• 8:12
  is that there's two big things going on, the inventories at the
• 8:16
  big electronic exchanges, the Comex and the the LBMA.
• 8:20
  The LBMA in particular aren't it like, Oh my God, you know,
• 8:24
  they're out of silver levels, but they're getting to some what
• 8:27
  I think can be called qualified as critical levels.
• 8:30
  The other thing is that the relationship between those
• 8:33
  markets is also acting funny. Let's go take a look at a couple
• 8:38
  a bit of commentary on that very matter.
• 8:41
  This came from, again, Eric Young.
• 8:43
  Thank you, Eric. King Kong 9888, this guy, he
• 8:48
  says Bullionaire Bob did some hardcore research and it looks
• 8:51
  like they are taking delivery of physical silver at the COMEX
• 8:56
  this August end of month instead of rolling over.
• 8:59
  So typically in the futures markets it is roll their futures
• 9:02
  over, roll them over, roll them over and never actually take
• 9:07
  delivery of the metal. And that is changing.
• 9:10
  That's that's one thing that's a little bit different and some
• 9:13
  people are throwing up red flags talking about how we could
• 9:17
  create a squeeze. I don't know.
• 9:18
  But this guy, Bullionaire Bob dug in and so have other of the
• 9:23
  big analyst in the gold and silver sector and are pointing
• 9:26
  out that this may be the case, but there's something else going
• 9:30
  on as well out there. And that is what's called the
• 9:32
  EFP, the gold and silver EFP. That stands for Exchange for
• 9:38
  physicals, an acronym which is the price difference between the
• 9:42
  futures market in New York and the spot market in London.
• 9:47
  There's some strange behavior there as well.
• 9:49
  Apparently that spread is kind of breaking out and possibly
• 9:54
  some people, I gotta say it, hold on, listen up.
• 9:58
  Some people are saying that could be a signal that
• 10:01
  somebody's getting squeezed, you know, short squeeze.
• 10:04
  So we'll see how that all plays out.
• 10:06
  But at minimum, we know that the paper markets are a bunch of
• 10:10
  bunk, OK? The inventory levels are
• 10:12
  strained in the relationships between the markets are becoming
• 10:17
  strained, strained. And we also know that there are
• 10:20
  some indications that that there's some unusual activity on
• 10:25
  the delivery side at the electronic market in New York.
• 10:29
  So who knows how this all plays out, right?
• 10:32
  I'm not going to make any solid predictions based on that, but I
• 10:36
  will share with you in a little bit what I think is going to
• 10:38
  happen here in the next month with both the gold and the
• 10:42
  silver market. Let's see, Rashad is telling us
• 10:44
  more good news everywhere we turn right now, it's good news.
• 10:49
  This comes from our friend Rashad who we follow closely a
• 10:54
  big bowl within the precious metal sector.
• 10:57
  He's saying attention Spot gold is finally breaking through a
• 11:01
  four month plus resistance standing from April 22nd.
• 11:05
  So from April 22nd on, we had this resistance.
• 11:09
  The move is taking place on the last working day of August.
• 11:12
  This breakout could spark a 15 to 20% move.
• 11:16
  And you know what's good for gold is good for silver.
• 11:19
  Buckle up. OK, and there it is on the
• 11:21
  chart. Wow, look at that.
• 11:23
  Looks like 1234. This is the fifth time the gold
• 11:29
  is attempting to breakthrough those levels.
• 11:32
  You can see on the right side test that says this is
• 11:34
  happening. So we're going to keep a close,
• 11:37
  close eye on that. Now, Jesse Colombo at the what
• 11:41
  is it the bubble bubble report. Let's get that pulled up for
• 11:45
  you. Shared some really fascinating
• 11:48
  charts about what's going on in gold.
• 11:50
  And again, guys, what's going on in gold is going on in silver.
• 11:54
  This is from the free section of his What are those things
• 11:57
  called? Sub Stack.
• 11:59
  You can subscribe to him. He's very popular, very
• 12:02
  knowledgeable, one of the leading analysts now in both the
• 12:05
  gold and silver market. But he says gold and silver are
• 12:07
  starting to break out. And I want to show you a couple
• 12:11
  charts that he shared. This one here is gold futures.
• 12:17
  See if I can get that to Yeah, I can.
• 12:19
  These are gold futures, OK, as you can see up here in the upper
• 12:24
  left corner, all right. And we had this long period of
• 12:27
  time of consolidation and as Rashad said, resistance as well.
• 12:31
  But the key thing to look at on this chart as the triangle
• 12:35
  pattern, the blue lines, the compression, OK, it tried to
• 12:38
  break out once, OK, boom in the in the triangle got smaller and
• 12:42
  smaller, and now it broke out again.
• 12:45
  Breakout #2 which is a very, very good thing.
• 12:48
  Now, what's interesting is if you look down here, he points
• 12:53
  out light volume, right? Usually when you have a
• 12:56
  breakout, you want to see that done on high volume and in this
• 13:00
  case it was on low volume. But Jesse brought up a very,
• 13:04
  very good point. This week is kind of considered
• 13:07
  to be the last week of summer. This is a holiday weekend in the
• 13:10
  United States for those of you who aren't in the US.
• 13:14
  So traditionally the volume is much lower during this these
• 13:18
  periods. I think next week will be
• 13:19
  critical, but I am fully expecting that next week we're
• 13:23
  going to have more a solid growth within both the price of
• 13:28
  silver and gold and I'll tell you why here right now.
• 13:31
  OK, let's go over to Kitco and look at the biggest factor right
• 13:38
  now that is going to be pushing the gold and silver price.
• 13:41
  The biggest kind of, you know, weather pattern or favorable.
• 13:47
  There is a lot of things that are pushing gold and a lot more
• 13:50
  that are pushing silver right now, but from a kind of macro
• 13:53
  level. Niels Christensen at shares with
• 13:56
  us. The gold price ending August at
• 13:58
  record highs. All eyes now on 3500, but
• 14:03
  there's a couple paragraphs in this that we want to talk about.
• 14:06
  Michelle Schneider, chief strategist at Marketgate, said
• 14:09
  that her buy signal in gold was triggered last week following
• 14:12
  dovish comments from Jerome Powell in his speech at the
• 14:16
  annual Central Bank symposium in Jackson Hole.
• 14:19
  Powell said that a shifting balance of risk in the economy
• 14:23
  may warrant an adjustment in monetary policy.
• 14:27
  Make sure I got you on the right screen, which I do OK?
• 14:31
  Powell quote. Powell showed markets that he is
• 14:34
  not overly concerned with getting inflation back down to
• 14:37
  2%. She said he is now more focused
• 14:40
  in the slowdown in the economy and the labor market.
• 14:43
  But I thought the economy was great, except apparently from
• 14:47
  people I'm talking to, nobody can get jobs right now, OK?
• 14:50
  Not a good time to be looking for job.
• 14:52
  According to some economist, Paul's stance was confirmed on
• 14:55
  Friday as inflation pressures rose in line with expectations.
• 14:59
  So we got the inflation numbers on Friday.
• 15:02
  Inflation is still way above the Feds target.
• 15:05
  But we also know, right? Because I'm talking to people in
• 15:08
  the construction business, in the IT business, in the
• 15:12
  executive recruiting business, that the economy is showing some
• 15:16
  pretty serious signs of serious slow down. the Fed is in a
• 15:20
  position now where they need to do 2 things at the same time.
• 15:24
  They need to raise rates to control inflation, but they also
• 15:29
  need to cut rates to stimulate the economy.
• 15:32
  Which do you think they're going to do?
• 15:33
  Well, Powell told us they're going to cut rates basically.
• 15:36
  So what's going to happen to the silver and gold price over the
• 15:39
  next two weeks? All right, two weeks from
• 15:42
  Wednesday of of this week. So in about 2 1/2 weeks we're
• 15:46
  going to get the Feds latest monetary policy decision.
• 15:49
  They're going to cut rates leading up to that.
• 15:52
  What I believe we're going to see are much, much higher moves
• 15:56
  in the silver price and the gold price.
• 15:58
  I'm not giving financial advice. I'm not a financial advisor.
• 16:02
  However, I will say that I'm going to be looking to maybe
• 16:05
  trim maybe 1/4, maybe a third if I'm correct and we do go through
• 16:10
  this, just this, this one and a half, two week period of
• 16:13
  increased prices in the metals and the mining stocks.
• 16:16
  I'm going to look at trimming maybe 1/4, maybe 1/3 of the
• 16:20
  mining stocks as I think after that we could get a pullback and
• 16:23
  then head back up through the end of the year.
• 16:26
  Again, I don't have a crystal ball, OK?
• 16:28
  Usually I'm right, but often I am wrong.
• 16:32
  So it'll be interesting to see how that plays out.
• 16:34
  But if you want to get your hands on some silver right now,
• 16:37
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• 16:40
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• 17:04
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• 17:50
  Check them out here. I'll show you show you their
• 17:51
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• 17:59
  I think you can see me and the website.
• 18:02
  Yep, there you can, right? Oh, no, wait a minute.
• 18:04
  Right over there, guys. That's first mint hail to the
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  Chief. That's their one ounce Buffalo
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  round, which I absolutely love the Indian design.
• 18:14
  There's the Las Vegas round. It'll go through them all.
• 18:17
  Keep looking over there. There's the year of the Snake.
• 18:19
  OK, like I said, you're the dragon.
• 18:22
  And also a great selection of bars and some other products as
• 18:26
  well. I also want to say thank you to
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• 18:33
  OK, that's a stock that I've owned for years before they
• 18:36
  sponsored the channel. They are a development stage
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  gold mining company in Canada. So they've got the gold, it's in
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  Like I said, they're moving through the development stage,
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  lot of big catalyst to come. And I'll tell you what, these
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  the development and exploration side of their business.
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  They've been more focused on paying off debt over the last
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  running dry and there's only a few huge big projects in a great
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  appreciate the sponsorship from First Mining Gold.
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  It helps me be able to come down here and hang out with you guys.
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  And is there a good, is there a good reason?
• 19:42
  But gold's the granddaddy of them all.
• 19:44
  OK, I love gold. I love silver, as you know.
• 19:49
  But is there good reason? I mean, is the world changing?
• 19:52
  Wait till you see this next chart.
• 19:53
  It in uncertain terms tells us that we are living through
• 19:58
  historic times for the precious metals.
• 20:01
  Let's there's the Las Vegas round.
• 20:04
  I'm sorry you're the snake, but I want to show you this chart
• 20:07
  because this one I think says it all.
• 20:10
  Lawrence McDonald says hard assets, gold versus financial
• 20:13
  assets, paper certificates. Foreign central banks now
• 20:17
  officially hold more gold than U.S.
• 20:19
  Treasuries for the first time since 1996.
• 20:23
  This came from Tavi Costa. Here we go.
• 20:27
  Look at this chart, see if I can get this up There We go on full
• 20:29
  screen for us to look at. As you can see there, the yellow
• 20:37
  line would represent a gold holdings as a percentage of
• 20:41
  foreign reserves. The blue line represents U.S.
• 20:45
  Treasuries. Look, OK, what about 1996?
• 20:50
  That flip-flopped and central banks were holding more U.S.
• 20:52
  Treasuries. That went on for a long time.
• 20:55
  What would that be? 20 years?
• 20:57
  But look at where we are now. What does this tell us about
• 21:01
  what the world's most sophisticated financial
• 21:04
  institutions are doing? They're allocating more and more
• 21:09
  to gold. OK, this these type, you know,
• 21:12
  these type graphs that go off. I went back to 1970.
• 21:16
  As you can see, right, they don't like flip flop.
• 21:18
  The most likely what we're going to see is a continued upward
• 21:22
  trajectory in that yellow line and apparently a continued
• 21:26
  downward trajectory in the blue line.
• 21:28
  But when we think about who the central banks are, again, these
• 21:32
  are the smartest guys in the room.
• 21:34
  It's not the hedge funds, it's not the venture capital.
• 21:37
  The smartest people with the most inside info about what's
• 21:41
  going on in the world's financial, economic and monetary
• 21:44
  systems are the central central banks.
• 21:47
  Like, don't, don't listen to what they say.
• 21:49
  Don't listen to what Jerome Powell says, right?
• 21:52
  Watch what they do in that chart right there with that blue and
• 21:56
  yellow line shows us in no uncertain terms that the
• 22:00
  smartest people around are moving to precious metals.
• 22:04
  Now we know the Russian central bank and there's some
• 22:07
  speculation about the Saudi Arabian central bank are also
• 22:11
  adding silver to that mix, right?
• 22:14
  Will silver be re monetized? There's some people that think
• 22:17
  that it will. We know that the industrial
• 22:19
  usage and the precious metal usage alone gives more than
• 22:23
  enough support for much higher prices.
• 22:26
  It's going to be so much fun to watch.
• 22:28
  Hey, I really appreciate you joining me.
• 22:30
  Don't forget subscribe to the channel please.
• 22:32
  It really helps out. Susie and I are raising the
• 22:35
  family off our off our YouTube channel so we appreciate your
• 22:39
  support. We appreciate your camaraderie.
• 22:41
  We've been through a lot together as precious metals
• 22:44
  investors and we got a lot to look forward to.
• 22:47
  I want you to be well, OK? And I will look forward to
• 22:50
  seeing you. Yes, you.