Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ☹️ SILVER Crashes $1.40? ☹️ How are GOLD & Silver Price doing THIS

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☹️ SILVER Crashes $1.40? ☹️ How are GOLD & Silver Price doing THIS · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  What is going on in the silver market?
• 0:03
  What is going on in the gold market, you know?
• 0:06
  Like I said earlier, this is. Probably one of the toughest
• 0:09
  live streams. I've ever had to do and I've
• 0:11
  done a lot of live streams. Over the last six months to one
• 0:16
  year. And I've watched the silver and
• 0:19
  gold market closely for decades. And you know, and I know we've
• 0:23
  been fighting a very tough battle for many, many years.
• 0:28
  Some of. You for decades as well.
• 0:30
  And this morning what happened for some reason just completely
• 0:36
  hit me in the gut. I mean, we've been through it
• 0:39
  all. Guys, right.
• 0:40
  But the price of silver in one hour?
• 0:43
  Maybe 3045 minutes. The price of silver dropped by
• 0:47
  $1.00. Per oz.
• 0:49
  It got as high as $23.64 per oz. Right before I came on it,
• 0:56
  basically. Had dropped by a whole dollar,
• 0:58
  4% in one hour absolutely knocked me in my.
• 1:05
  Gut you know, I. Take this seriously.
• 1:07
  I believe in. The thesis, the idea behind why
• 1:11
  we want to own precious metals. And you know, when I see things
• 1:15
  happen like happened this morning, I have to be honest
• 1:18
  with you. It's, you know, we've been
• 1:20
  through a lot of. Lucy pulls the football moments.
• 1:23
  Before, but what happened this morning?
• 1:26
  I'm perplexed and I have. I spent an hour searching.
• 1:30
  Everywhere to figure out what. Caused silver to go down by a
• 1:34
  dollar per oz. I mean, it was.
• 1:37
  Up like. 80 cents, $0.90 per oz and then boom Wham.
• 1:42
  OI mean 10 year bond yields are down.
• 1:46
  The dollar went up a little bit. But nothing like crazy.
• 1:50
  I don't know. I have no idea.
• 1:52
  I mean, you know, I know. A lot of us will think and say
• 1:56
  that, oh, it's manipulation, it's the Comex, it's the crime,
• 1:59
  X whatever. We want to call it, but you
• 2:02
  know, it just doesn't make sense at all.
• 2:06
  What's going on and I don't know.
• 2:10
  I just I I don't get it if you know.
• 2:13
  If you have an idea, put it in the comments.
• 2:15
  Share it amongst yourselves. I mean, there's so much messed
• 2:19
  up stuff going on in the country right now and that's I'll get my
• 2:23
  mind off silver and gold and we'll.
• 2:25
  Just talk about how screwed up. I mean, we've got to talk, we we
• 2:29
  can talk about a government shutdown this weekend.
• 2:32
  We can talk about the UAW strike expanding.
• 2:36
  We can talk about the fact that student loan repayments, yes, on
• 2:39
  October. First, people will be required.
• 2:42
  To start paying back their student loans, we can talk about
• 2:46
  the debt. I've got some new things some.
• 2:48
  New ideas when it comes to this. Massive debt balance, you know?
• 2:52
  This was supposed to be and I, you know, we talked on Monday
• 2:56
  morning, the Monday 10:00 AM live stream I shared.
• 2:59
  With you guys that this was going to?
• 3:01
  Be a crazy week in the precious metals market.
• 3:05
  Based upon the fact that we were going to have six Fed speakers
• 3:09
  and I knew. I mean, I'm just, I'm just, I'm,
• 3:12
  I'm sick of all the the bubble gum and duct tape and smoke and
• 3:17
  mirrors and BS and I'm sick of what's going on with the middle
• 3:21
  class. In this country being decimated
• 3:24
  and I'm sick of I'm sick. Of the price of silver, I mean,
• 3:30
  I'm sorry, I'm going to say it one more time.
• 3:32
  The price of silver moved by $1.00 per oz.
• 3:35
  Within like a 3045 minute period this morning crashed.
• 3:40
  OK, I'll call it A. You may not say it's a crash,
• 3:43
  and I know maybe I'm whining and complaining, but you know.
• 3:46
  Anytime we get any kind of real upward momentum, what what
• 3:51
  happened to? Cause the price of.
• 3:53
  Silver to crash, right? There's just it's it's it's
• 3:56
  becoming somewhat disgusting. I'm going to talk about the
• 4:00
  mainstream media. The mainstream.
• 4:02
  Media is starting to talk about gold and silver as well.
• 4:06
  We'll talk about. That and we got a housing crash.
• 4:08
  I mean so. Look at all this.
• 4:10
  All this wonderful stuff going on out there in our economy, the
• 4:13
  things that. Support the value.
• 4:16
  Supposedly of the US. Dollar we got a housing crash,
• 4:19
  we got we. Got the Fed that has just
• 4:21
  screwed everything up beyond recognition.
• 4:25
  We got debt. That's unbelievable.
• 4:27
  We're going to talk. About what, Ray Dalio?
• 4:29
  Had to say. About that, we got student loan
• 4:31
  repayments starting. Anyway, let's let's dig in.
• 4:35
  OK, so and then we got this morning.
• 4:38
  I mean the top it all off. Are you guys just sick of this?
• 4:43
  Because I'm getting. Really sick of it.
• 4:45
  Big inflation numbers. OK, big numbers come out today.
• 4:49
  The PCE, the core PCE, it's inflation's lower.
• 4:56
  Inflation's higher. These are all the headlines,
• 4:58
  right? Well, if you compare inflation
• 5:00
  to a year ago, it's higher. If you compare it are lower if
• 5:03
  you compare it to a month ago. It's higher.
• 5:05
  It's the. PCE That's what the Fed really
• 5:08
  like. I mean, it's all becoming a
• 5:10
  bunch of BS and I still won't. Cuss here in the basement, but
• 5:14
  it's all becoming a bunch of smoke.
• 5:17
  And mirror BS, right does. All these inflate.
• 5:21
  And then I thought, well, whatever the market thing that's
• 5:23
  made the, that made the. The price of silver go.
• 5:26
  Up right. It was skyrocketing this
• 5:28
  morning. The price of.
• 5:29
  Gold was doing. Well, I don't even talk about
• 5:31
  our friend Gold. Gold's dropped like $23 from
• 5:34
  its. High to its low.
• 5:36
  We get these inflate core, PCE piece, whatever.
• 5:43
  I can still laugh. We can still laugh, right?
• 5:47
  But none of. It makes any sense.
• 5:48
  It's all a bunch of smoke. And Mirror Bowl Capuki.
• 5:54
  And now they're saying. Now they're saying I was
• 5:58
  drinking my coffee this morning. Susie's watching my lovely.
• 6:01
  Wife Susie is. Watching the Today Show.
• 6:03
  Not Good Morning America. There's a difference.
• 6:05
  I get in trouble when I call it Good Morning America and they're
• 6:09
  talking. About they're talking about the
• 6:11
  government shutdown on mainstream media.
• 6:13
  They're talking about the UAW strike on mainstream media.
• 6:17
  And they talked about the student.
• 6:18
  I was like, Oh my gosh, they. Actually are talking about some
• 6:22
  potentially some real things going on and is.
• 6:25
  Time up, we got the government, big government shutdown.
• 6:28
  That's. The big story What does that
• 6:30
  mean? What does that mean?
• 6:32
  Right. The government's going to shut
• 6:33
  down. Hey, I don't know about you.
• 6:35
  I've been through. A few of these government
• 6:37
  shutdowns during my adult life. Do you even notice when the
• 6:42
  government? Shuts down.
• 6:44
  It makes. You wonder, like, what are these
• 6:46
  people after actually doing? But now they're saying barring a
• 6:49
  miracle only. If we have a miracle.
• 6:53
  Only if it's a miracle. Otherwise, the government is
• 6:57
  going to shut down. Well, Hallelujah.
• 6:59
  Why don't they shut down the Federal Reserve?
• 7:02
  Because that's not really part of our government.
• 7:04
  That's owned by private banks. Which is a whole different
• 7:08
  story. Right, but shut down the Federal
• 7:11
  Reserve. Why don't we try that for a
• 7:13
  couple years, huh? They're saying we're going to
• 7:15
  have. Turmoil at the airports?
• 7:18
  Because the TSA agents won't be there.
• 7:20
  And it all comes back to what I think.
• 7:22
  Is the political chaos that we have in the country right now
• 7:26
  right? It's everything feels like smoke
• 7:28
  and mirrors, right? But.
• 7:29
  We do have this supposed, you know, confrontation between the
• 7:34
  left and the right and appear and now they're blaming right.
• 7:37
  This is the mainstream media is blaming the Republicans, the
• 7:40
  hardcore conservative Republicans who reneged on some
• 7:44
  agreement they made with McCarthy back when they.
• 7:47
  Suspended the debt limit. They didn't just raise the debt
• 7:51
  limit, they suspended it. We got to talk about that.
• 7:54
  As well, right? And you know now, here, here.
• 7:58
  BlackRock CEO Larry Fink slammed U.S. politicians.
• 8:04
  Over their failure to reach an agreement on government funding,
• 8:08
  saying the prospect of a shutdown.
• 8:10
  This is Larry Fink from BlackRock Is Undermining
• 8:14
  America's standing with investors.
• 8:18
  Oh, people. People might start to think the
• 8:20
  United. States can't pay all their debt,
• 8:22
  right? Why would they think that?
• 8:24
  Why would they think that? Think about this.
• 8:27
  This hit me last night. We.
• 8:28
  Grew this crazy debt and I'm gonna harp this If you don't
• 8:32
  want to hear about the national debt and you want to hear about
• 8:34
  about unicorns and lollipops and rainbows, you need to go
• 8:38
  somewhere else. Because this debt problem is
• 8:40
  real in the United States. And it dawned on me.
• 8:43
  Last night it was like, you know, the debt grew and grew and
• 8:47
  grew in this environment of 0% and it's grown to this now
• 8:52
  massive. Level, but all that happened
• 8:55
  during a 0% interest rate environment and now we got this
• 8:59
  massive. Debt pile.
• 9:02
  But the Zinger? The double?
• 9:03
  Zinger on top of it is we also have much higher interest rates.
• 9:07
  It's a big, big, big mess, let me tell you.
• 9:11
  But here? Do you know who Ray Dalio is?
• 9:12
  Ray Dalio is someone started Bridgewater Capital.
• 9:16
  Thank you, Shadow. Work for the Super chat my
• 9:18
  friend. Thank you.
• 9:21
  Ray Dalio started one of the biggest hedge funds in this
• 9:24
  country. He's super respected.
• 9:27
  He can be a bit controversial but.
• 9:30
  Here's what he said. OK, and this is on CNBC.
• 9:33
  Ray Dalio says the United. States is going to have a.
• 9:37
  Debt crisis billionaire investor Ray Dalio is watching closely
• 9:43
  the quote, UN quote risky United States fiscal situation, he
• 9:48
  says. We're going to.
• 9:50
  Have a debt crisis in this country.
• 9:52
  He's the founder of Bridgewater. There, he says.
• 9:57
  How fast it transpires, I think is going to be a function of
• 10:02
  that supply demand issue. So I'm watching that very
• 10:06
  closely. Ray Dalio.
• 10:09
  Also says I think we're going to have a meaningful slowing.
• 10:14
  Of the economy. He's concerned there are more.
• 10:17
  Headwinds for the economy than just high debt levels, say.
• 10:22
  And he says the growth could fall to 00, give or take one, or
• 10:29
  2%. It's a mess.
• 10:31
  It's a mess, guys. It's a mess.
• 10:33
  I'm. So I'm so disgusted.
• 10:35
  I'm sorry I was tearing up on you earlier, you know?
• 10:39
  Let's get, let's, let's, let's we're we're going to circle back
• 10:41
  to silver and gold for a second and then we're.
• 10:43
  Going to talk about these other big major issues going on, but
• 10:47
  how humiliating was this morning for Silver?
• 10:51
  Investors right Silver up 4%. Susie.
• 10:56
  I walked through. She's on the computer, Susie.
• 10:58
  Watches the silver price now too and and I said how?
• 11:01
  Silver, she said. Silver's up almost 4%.
• 11:04
  Like, wow, that's great. I get some coffee, do a couple
• 11:08
  of things, come downstairs and 45 minutes.
• 11:11
  Later, Silver's lost all of its gain.
• 11:14
  It's. Lost a dollar of its value and
• 11:16
  nobody can tell me why. Who can tell us why does
• 11:21
  anybody? Is that whoever's?
• 11:22
  Seriously, if you're in the comments, call me on the walkie.
• 11:26
  Does anybody said why Silver has dropped?
• 11:29
  You know, I don't know. I don't know.
• 11:32
  It makes no sense. It's it's.
• 11:36
  It's probably was the. I gotta I'm just being honest.
• 11:40
  With you guys here like coming on and doing this?
• 11:43
  Because I love Silver and I love talking with you, and I love
• 11:47
  being with you guys in the basement.
• 11:49
  OK, but. I want to provide value to you.
• 11:52
  That's very important to me. The companies that are my
• 11:55
  sponsors, the companies that help support the channel like
• 11:59
  First Mining, Gold, Weber. Spices and pin.
• 12:03
  Those are all companies. That I work with that I've used
• 12:06
  their products I believe. In I invest in.
• 12:09
  Right. It's a big, big deal to me that
• 12:11
  I provide you with some value. The information I provide you
• 12:15
  and I just. Felt like I got.
• 12:18
  I mean like what happened today in silver I, you know was maybe
• 12:23
  maybe the silver lining pardon the pun maybe the silver lining
• 12:27
  to what happened this morning. Cuz I'm telling you in my
• 12:29
  decades I've never felt like I got punched in the gut.
• 12:34
  Right. Like I don't have an appetite.
• 12:36
  I'm you know and mental turmoil. I'm just being honest over what
• 12:41
  went on in the silver market this morning.
• 12:44
  Maybe that's a sign of capitulation if you see, like,
• 12:48
  smoke starting to come out of my.
• 12:50
  Ears because it makes no sense and I have a lot of money
• 12:54
  invested into precious metal mining stocks and they're going
• 12:58
  to get. Slaughtered today, right.
• 13:00
  And it makes no sense. And it's, it's maddening.
• 13:03
  You know, I talked with Jorge Ganoza.
• 13:05
  The CEO of of Fortuna Silver yesterday for an hour and I.
• 13:10
  Can tell you that was the first thing.
• 13:13
  I get on and say, hey Jorge, how you doing?
• 13:15
  And he's an awesome, awesome quality good man.
• 13:19
  I love. I really.
• 13:21
  Have a lot of respect for Jorge and I have a lot of money
• 13:23
  invested into his company Fortuna Silver but nonetheless
• 13:27
  and he was like man he was just like you know like like I like
• 13:31
  he was like what is going on in the market Ron And I'm like I
• 13:35
  don't know you know and and he you know you can.
• 13:40
  Watch I have two videos coming out where I talk with Jorge, one
• 13:43
  about the market and the other more specific 2 Fortuna Silver.
• 13:47
  But oh whatever, Gold show and. He was like, what I sense.
• 13:56
  Other people too. I mean, how much?
• 13:58
  More, more times, can they kick us?
• 14:00
  I mean, silver and gold are not going away, OK?
• 14:05
  Nor is platinum. These things are not going.
• 14:09
  It feels like that's what the powers that be are trying to do.
• 14:14
  You know, I talked with Coin Shop, Chris.
• 14:15
  This morning. And he said, oh, they do it
• 14:17
  every. That's when they knock it down.
• 14:19
  They knock it down. But man, what happened this
• 14:23
  morning was downright painful if you watch the markets.
• 14:27
  As I wish I didn't look Some mornings I don't look until 10
• 14:30
  or noon or whatever. I wish I hadn't even known.
• 14:36
  All right, let's talk about some more.
• 14:37
  Great. News out there right now, guys.
• 14:41
  OK, because we know all these government.
• 14:44
  Employees are soon to be unemployed, right?
• 14:47
  Temporarily unemployed? What about the United Auto?
• 14:51
  They're expanding their strike potentially today they're going
• 14:55
  to announce further. Walkouts, I think they said at
• 14:57
  noon Eastern Time, more walkouts, what is going on out
• 15:02
  there and you know. Look, whether you're pro union
• 15:05
  or anti union makes no difference to me.
• 15:07
  This is not. A political show.
• 15:09
  This is not a pro union anti union show but what we can say I
• 15:14
  think, I think. You'll agree with me on this
• 15:17
  that what we can say is that we support middleclass people being
• 15:21
  able to have a reasonable good life, being able to to have
• 15:27
  being. Being able to pay their bills
• 15:29
  and their house payment. So it's.
• 15:31
  Going to be interesting how this UAW situation plays out, but
• 15:38
  again, we've got fewer people right working, making money and
• 15:44
  and. The supply of automobiles coming
• 15:47
  onto the market will. Be constricted through all this
• 15:51
  and that will only add further right only and further to
• 15:55
  inflation, I mean. First they said we had no
• 15:57
  microchips, so. Like, I knew my uncle bought a
• 16:01
  new. Car like a year ago and like the
• 16:04
  power locks didn't work, and the power seats and I'm like, what's
• 16:07
  going on? He said.
• 16:08
  I'm they're waiting for the chips to come in, then they're
• 16:10
  going to install them at the dealership.
• 16:12
  Remember that? Like we couldn't get cars.
• 16:14
  Because there was a chip shortage.
• 16:15
  Well, guess what? Now there's a shortage.
• 16:18
  Of people to put the cars together because.
• 16:20
  People are getting fed up, right?
• 16:22
  And I don't really. Blame them, right?
• 16:25
  The only thing I'm more fed up about?
• 16:27
  Is the BS that went on this morning and the precious metals
• 16:31
  markets. I saw Peter Grandich but I was
• 16:33
  searching to find out what. Caused this.
• 16:36
  What was behind all this? Okay and and nobody knows.
• 16:41
  Peter Grandich had a guy like banging his head against a.
• 16:43
  Wall like this is crazy. What is going on right now?
• 16:49
  And we thought remember, remember I warned you guys
• 16:53
  earlier in the week? This was going to be a crazy
• 16:55
  week for precious metals, I didn't think I thought this
• 16:59
  morning like. Ooh, sigh of relief.
• 17:01
  I was thinking about the live stream and what?
• 17:03
  We would talk about and I said, you know, we get a sigh of
• 17:06
  relief now because this was a major week because.
• 17:11
  We had six Fed speakers that were coming out.
• 17:14
  This week to Talk, talk, talk, talk, Talk.
• 17:18
  Unfortunately it didn't work out that way.
• 17:20
  But, but, but we did get some interesting news from the
• 17:25
  Chicago Fed President Austin Goolsbee, OK?
• 17:29
  He said Thursday that the Federal Reserve will do whatever
• 17:32
  it takes to get inflation down. But stress the central bank can
• 17:36
  lower inflation without. Causing a recession if it
• 17:40
  doesn't risk raising interest rates more than needed.
• 17:45
  That was, that was. Was was dovish?
• 17:48
  Right. That was a surprise that, he
• 17:50
  said. You know, we don't want to.
• 17:51
  Raise interest rates too high because we're going to risk
• 17:56
  throwing the country into a recession.
• 18:01
  Oh, thank you, Susie. That's Susie on the
• 18:06
  walkie-talkie. Even on days right now where I
• 18:09
  feel like I could break down and cry, to hear Susie's voice makes
• 18:12
  me feel good plus. We got 100 thumbs up.
• 18:15
  Thank you guys for that. Let me ring the bell 10 times,
• 18:24
  man. It's hard for me to.
• 18:25
  Smile today, but I'm going to keep smiling.
• 18:28
  What the heck you know. Susie's dad used to say that.
• 18:32
  Keep smiling, keep smiling. I guess it doesn't hurt to
• 18:35
  smile, right? It's a choice.
• 18:37
  So we're going to, we're going to keep smiling, so.
• 18:42
  All these fed interest. Rate hikes.
• 18:43
  We're hearing now from the Chicago Fed president.
• 18:46
  Maybe we need to slow down. Maybe we need to cool it just a
• 18:49
  little bit. Maybe.
• 18:51
  Do you think so now that the UAW is on strike, now that we got
• 18:56
  the government workers going on, isn't it kind of strange now
• 18:59
  that, like, like these? Weird things are happening in
• 19:03
  the economy. UAW strike the government
• 19:06
  workers. You know, not getting paid.
• 19:08
  All this is going to come together.
• 19:11
  With the lag. Effect of all the.
• 19:13
  Previous Fed interest rate hikes and kill the economy.
• 19:16
  I still say nobody's talking about a depression.
• 19:20
  Nobody. And I'm not saying I think we're
• 19:22
  going to have a depression, but nobody's talking about the worst
• 19:26
  case scenario, what could happen as a result of all this insanity
• 19:31
  that's going on right now in the markets with the Fed, with
• 19:35
  monetary policy. You know, with fiscal policy
• 19:39
  coming out of our government. Here's an interesting quote from
• 19:41
  the Wall Street Journal 41% of finance.
• 19:46
  Chiefs say current interest rates have pushed them to.
• 19:49
  Scale back capital expenditures. Thank you, Ron.
• 19:55
  Thank. You thank you.
• 19:56
  Thank you for saying thank you to Susie, according to a new
• 19:59
  survey from the This is from the Wall.
• 20:01
  Street Journal article. 41%. Of CFO's have said we've cut
• 20:06
  back on spending, They cut, they're cutting back on
• 20:10
  spending, right? We've got people, you know, the
• 20:13
  UAW on strike, we've got the government, the worker we've
• 20:16
  got. All these things converging to I
• 20:19
  mean I. Feel like, look, I'm going to go
• 20:22
  on a limb and say we got a 15% chance of a depression.
• 20:27
  OK, I you said it. Here, one in six chance.
• 20:30
  That we could actually. Have a full blown depression.
• 20:34
  In this country because the consumers are are tapped out.
• 20:38
  You know, trillion dollars, credit card debt, no savings.
• 20:44
  Thank you, Craig. I won't bang my head.
• 20:48
  No. I am goofy enough.
• 20:49
  Absolutely no savings. And and oh, headline.
• 20:56
  Here's the new headline. Guys, get ready, right?
• 20:58
  Even today. Shows talking about it now.
• 21:01
  All the people that took out debt to go to college.
• 21:05
  They got to start. Paying it back.
• 21:06
  They've not had to make payments for three years.
• 21:12
  So think about that now, right? That's even less money into.
• 21:16
  Then there's statistics. You know the.
• 21:18
  Economist put together a fan. Though it's going to take away
• 21:21
  whatever. They got to start.
• 21:23
  Paying their debt back, What are people going to do?
• 21:26
  You know, I don't know what are people?
• 21:28
  Going to do. Let's talk about gold.
• 21:31
  For a second, all right, this is interesting.
• 21:34
  One of the viewers emailed me a little clip from Charles Payne
• 21:38
  from Fox Business. I think it was this little 3-4
• 21:42
  minute clip of him talking to this top financial advisor and
• 21:46
  then at the like the last minute, mainstream media.
• 21:49
  And this was not an advertisement.
• 21:51
  They started talking about gold and how gold is a good.
• 21:55
  Option to protect yourself, to protect your wealth.
• 21:58
  During times of economic uncertainty, more and and.
• 22:03
  What's the other big story? That's.
• 22:05
  Getting tons of mainstream coverage, I saw a.
• 22:08
  Fortune magazine article. I saw Yahoo finance.
• 22:12
  Article I saw a MarketWatch article.
• 22:15
  Everybody's talking about this idea that Costco is.
• 22:20
  Selling gold and we talked about this in more detail.
• 22:22
  Yesterday but as the day. Went on there.
• 22:25
  Were I saw article after article?
• 22:28
  In at minimum, Right At minimum. What is that telling us That's
• 22:33
  telling us that the. Average American, because I
• 22:36
  think you can say the. Average American is the type
• 22:40
  person who shops at Costco. Has an appetite, especially
• 22:44
  when. Costco offers it.
• 22:46
  I think they're. These PAMP, Swissy bars or
• 22:48
  whatever for precious metals to protect their wealth.
• 22:53
  OK. I mean, that's telling.
• 22:57
  Us that that. On several, I mean, I don't
• 23:01
  know. I had this with that feeling
• 23:03
  like, is this the first sign that Costco?
• 23:06
  Is selling out of gold. Bars and their C.
• 23:09
  FO is saying anytime we put. Gold bars on our online store.
• 23:13
  Number one. We will only sell them to people
• 23:16
  who are members of Costco and number.
• 23:18
  Two, they sell out. And I'm thinking is that is that
• 23:21
  the? Is that the thing that that?
• 23:24
  People are going to look at a year.
• 23:26
  From now, two years from now and say that was the sign that we
• 23:29
  were going to have a big new wave of.
• 23:33
  Interest in precious metals when.
• 23:35
  Costco was selling out of gold. Bars, I mean, but again.
• 23:42
  What is that telling us? Right.
• 23:44
  I don't shop at Costco. I go to.
• 23:46
  Sam's by the way, That's where I got these Weber.
• 23:49
  Seasonings from my friends at Sam's and I love the famous
• 23:53
  burger seasoning. You can ask Susie I make some of
• 23:56
  the best burgers around. So Sam's is not Sam's is selling
• 24:00
  Weber seasoning. Sam's is not selling gold by.
• 24:03
  Costco and what is it? Telling us that Costco is
• 24:07
  selling gold. And selling out.
• 24:11
  Of gold. Just let it.
• 24:13
  Sink in. Let it Let it sink in for a
• 24:15
  second. What about the housing market?
• 24:17
  You know you all need a. House, Right.
• 24:19
  The housing market is crashing. And I didn't say that.
• 24:23
  I didn't say that. Yes, I'm saying that we have a
• 24:26
  risk of a. Depression, I'm not saying it's
• 24:28
  going to happen, but I think it's much, there's much more of
• 24:31
  a there's always a risk. Of a depression, right?
• 24:34
  But nobody talks about it. I'm not saying I.
• 24:36
  Think for sure. It's going to happen.
• 24:38
  But I'm feeling more and more like it's more of a possibility.
• 24:42
  Than anyone is talking about right now.
• 24:46
  Uh oh uh oh Oh no. I lost my article.
• 24:51
  Well, it was from Redfin. Hold on here.
• 24:54
  Oh, here we go. I found it.
• 24:58
  Welcome to technically challenged Ron's Basement.
• 25:01
  Here's a headline from Market Insider.
• 25:04
  The housing market has hit rock. Bottom and sales slump will last
• 25:09
  a long time. That's from Redfin, the Redfin
• 25:13
  CEO. Now they're making me watch an
• 25:16
  ad. Geez, oh Pete.
• 25:17
  I tell you what. The housing market can't get.
• 25:20
  Much worse from here, according to Redfin CEO Glenn Kelman.
• 25:26
  High mortgage rates and high prices have crushed
• 25:29
  affordability for buyers. The market is in a freeze.
• 25:34
  And sales slowdown that will last for a long time.
• 25:38
  Yeah, you know why? Guys, all right.
• 25:41
  Here the head of. Real Estate Listing But.
• 25:44
  The only good thing right now about the US housing market is
• 25:47
  that it can't. Get much worse, said Redfin CEO,
• 25:51
  the. Head of the real estate.
• 25:52
  Listing site pointed to a tough market conditions over the past
• 25:56
  year with affordability plunging.
• 26:00
  To an all time. Low did you?
• 26:01
  Real do you know we we we, we. We've.
• 26:05
  Talked, talked about. This maybe mentioned it a time
• 26:08
  or two, but affordability of houses?
• 26:12
  Is in an all time low, and that's according to Goldman
• 26:16
  Sachs. Right.
• 26:17
  Traditionally, people should spend around 30% of their.
• 26:21
  Income on housing now that number is encroaching upon 45%.
• 26:28
  And that's if they have a job. If they work for the UAW or the
• 26:32
  government, they're not going to have a job.
• 26:34
  Right. They're not going to have income
• 26:36
  if you work for Walmart. Who's lowering starting?
• 26:39
  Pay for some? You're not going to who?
• 26:42
  People. No wonder there's a freeze.
• 26:44
  People are frozen in their. Houses because they can't afford
• 26:48
  to move and pay a mortgage with a new.
• 26:51
  Higher rate that would. Often mean a double or tripling
• 26:54
  of their house payment. People are stuck.
• 26:58
  Right. I wouldn't want to be in the
• 26:59
  moving van business right now. People can't afford.
• 27:03
  People are. Remember CF.
• 27:06
  O's just said 41% of them have. Cut back on.
• 27:10
  Capital expenditures guys, you know what I just.
• 27:14
  Raised my estimate. We're not 15% chance of a
• 27:17
  depression, we're now at 18% chance because when you.
• 27:20
  Put all this together when you. Think about what's going on out
• 27:23
  there. And the big key with silver and
• 27:27
  gold is how will the Federal Reserve.
• 27:31
  Have to react right? There's only one way.
• 27:37
  We could. We think about.
• 27:39
  This storm that we could be heading into, we've got.
• 27:42
  Massive piles of debt that people.
• 27:45
  Are you know 33? Trillion in debt, 17 trillion of
• 27:48
  which needs to be refinanced. By Janet.
• 27:50
  Yellen in the Treasury Department here within the next
• 27:54
  two years, Think about this. Who's.
• 27:57
  Going to buy all that? Debt number one and that.
• 28:00
  Could be. Happening that's that's this
• 28:02
  fist. That could be.
• 28:04
  Happening at the same time that we have an economy that is
• 28:08
  completely slowing down. I mean Jerome Powell.
• 28:11
  Might need to get 2. Printing presses right one to.
• 28:15
  Pay for this, this, this doom. Loop of debt and interest and
• 28:21
  everything. Else and at the same.
• 28:22
  Time trying to stimulate the. Economy.
• 28:26
  Everybody's talking about stagflation.
• 28:28
  You're. Probably sick and tired of.
• 28:29
  Hearing me talk about stagflation, but.
• 28:32
  That is becoming the reality. A stagnant?
• 28:35
  How about? How about?
• 28:37
  Dagflation a depression with inflation, right?
• 28:41
  How about ragflation? A recession with inflation?
• 28:44
  Or I guess that would be restflation.
• 28:47
  Anyway, you know what I'm saying.
• 28:49
  Right. And what are people going to do?
• 28:51
  Right. The economy slowing down.
• 28:54
  Profits are slowing down at. Companies stock market looks
• 28:57
  like like a big. I mean, and isn't it about time
• 29:01
  that the? Stock market, I mean, you know,
• 29:03
  the returns people. Have had in the stock.
• 29:05
  Market over the last 20. You know what?
• 29:07
  Everybody thinks it always. Comes back it always because
• 29:11
  that's. What they told me.
• 29:13
  It always comes back. No, the stock market could crash
• 29:17
  the stock. Market could go down
• 29:18
  significantly. What about bonds?
• 29:21
  When rates continue to go up, bonds can go down significantly.
• 29:26
  What's going to be left? People will be scratching their
• 29:29
  heads, right? Maybe a year from now and
• 29:32
  thinking. Maybe those guys at Costco,
• 29:36
  maybe those. People who were buying gold bars
• 29:38
  from Costco or maybe. Those people who were.
• 29:41
  Buying their self some silver coins from places like PIM.
• 29:45
  Becks, who's also a sponsor of our channel.
• 29:49
  Right. Maybe those people.
• 29:51
  Were making a smart move when everybody else was blindly
• 29:56
  throwing more and more money into the stock market.
• 30:01
  Because when you look at everything that's coming
• 30:03
  together, OK, you look at. Everything that's.
• 30:06
  Happening and you look at it in a hole, it's not.
• 30:09
  A pretty picture and we. Didn't even talk about that's.
• 30:13
  Just think about this. Everything we've talked about so
• 30:19
  far. Is the United States in a?
• 30:21
  Little bubble. We just talked.
• 30:23
  About the United States. Bubble which?
• 30:25
  Looks bad if we go beyond that bubble and look at what's.
• 30:29
  Going on in the world with Brazil, Russia, India.
• 30:34
  This country that's got the second largest.
• 30:37
  Economy in the world China. What about Saudi?
• 30:41
  What about the United? Arab Emirates, What about our, I
• 30:44
  mean, all these countries? That are aligning themselves at
• 30:48
  the same time, at the same time that the United States is facing
• 30:52
  some difficult. Right.
• 30:56
  At the same time that the little.
• 30:57
  US bubble has some difficult prospects the rest of the world.
• 31:02
  Is also aligning themselves. Basically against the United
• 31:07
  States. Oh, and then we can throw in on
• 31:09
  the side, right? That we have a.
• 31:10
  War going on right now in Europe, but everything's fine,
• 31:14
  everything's great. Just watch Dancing with the
• 31:17
  Stars or. You know, watch the Children's
• 31:20
  News Network. They'll keep you up to speed.
• 31:22
  You know, I was talking last night with a great friend of
• 31:25
  mine. His name is Sean Williamson.
• 31:29
  OK, he's a CPA. He's a multimillionaire.
• 31:34
  I know he doesn't mind me saying this.
• 31:35
  He's a published author. Great.
• 31:39
  Something about small business. You can look him up on Amazon.
• 31:41
  His book, right? He's a self-made man from zero
• 31:46
  to where he is today, which is very, very.
• 31:50
  And we were talking about the news in the mainstream media,
• 31:53
  right? And it's not just not just CNN.
• 31:56
  It's not just MSNBC. It's not.
• 31:58
  Just Fox. That's all they talk about is
• 32:01
  BS. Right.
• 32:03
  They don't talk about the. Real news, right?
• 32:07
  The the some of the channels, all they want to do is talk
• 32:09
  about Donald Trump, right? Other ones.
• 32:12
  All they want to do is put down the Democrat, but nobody's
• 32:14
  talking about. Really going on in the world?
• 32:18
  Nobody's talking about, I told. I told him a story.
• 32:23
  My dad came over about 3 weeks ago.
• 32:26
  And had to stay at our house for a couple.
• 32:28
  My mom was getting her hair cut and he likes to watch MSNBC.
• 32:31
  And it was 12 noon on the dot, so I turned on.
• 32:34
  I said, you want me to turn on MSNBC?
• 32:36
  He said, yeah, and it was. Right when all the.
• 32:38
  Bricks stuff was going on right, right when the bricks announced
• 32:41
  they were adding six new countries.
• 32:43
  Thank you. Marcos, for that super chat, I'm
• 32:45
  feeling a little better. I was.
• 32:47
  Ready to cry? No joke.
• 32:49
  And I think I did cry a little bit when we first came on this
• 32:52
  live stream. But I said, Dad, I said I'll.
• 32:55
  Turn on MSNBC for you because he likes to watch that.
• 32:59
  This is, but this is when the bricks.
• 33:00
  Thing was going on. Probably the biggest news story.
• 33:04
  Maybe in our lifetime the biggest thing going on in the
• 33:08
  world. And I said, Dad, I guarantee.
• 33:11
  It was a commercial break. When I turned, I said I
• 33:13
  guarantee you the first thing they're going to talk about is
• 33:15
  Trump. And I said you eat.
• 33:17
  That said do you? Because he watches us for hours
• 33:19
  every day, I said. Do you even know?
• 33:21
  Have you ever heard of the bricks?
• 33:23
  And he just kind of looked at me like he didn't know, understand
• 33:26
  what I was, what I was talking. About it's not just him, it's
• 33:29
  the rest of the country. There's there most people.
• 33:33
  And I'm not. I love my dad.
• 33:34
  He's then he's a very smart man and a great man.
• 33:37
  I'm not putting him down, but most normal, normal Americans
• 33:45
  are dumb and asleep. Okay, I hate to say that you
• 33:48
  aren't and I'm that was a bad. Word I shouldn't have said.
• 33:51
  Dumb willfully, not willfully. Unwillfully ignorant to what's
• 33:57
  going on in the world. The real stories.
• 34:01
  That are going on in the world right now.
• 34:03
  They just are they they they like just.
• 34:06
  Don't want to realize that. That, that we've got.
• 34:10
  A war going on in Europe, right, that we have?
• 34:13
  Half the, more than half the. World that controls more than
• 34:16
  half the world's. Resources aligning themselves
• 34:21
  against us, you know, I mean it's just it's an interesting
• 34:25
  time that we're living in. And then to top it all off this
• 34:29
  morning, silver goes up a buck. It immediately crashes a buck.
• 34:34
  I don't even want to know where. It's at right now.
• 34:36
  Somebody tell me. All right, somebody and I may
• 34:39
  start crying again in the comments, please.
• 34:43
  Somebody tell us what is is silver?
• 34:46
  Down or up right now? Just say.
• 34:49
  Down a quarter or? Maybe it's down another dollar
• 34:53
  on top of what it was already down.
• 34:55
  I mean, nothing would surprise. Me 2234 down.
• 35:01
  Thank you, Dave. Thank you, Patrick.
• 35:04
  Down 1% you need sober today. It's a good.
• 35:07
  It's down 1%. Oh my God.
• 35:10
  Unbelievable. Unbelievable.
• 35:15
  Why it makes no? I mean, maybe, maybe.
• 35:21
  And I've said this. Before, when there's just
• 35:24
  inexplicable price movements and things, it usually comes.
• 35:30
  It usually precedes a big move. But at this point, I don't know
• 35:35
  what to say. Quit pumping it down.
• 35:39
  Yeah. Hammered.
• 35:41
  Yeah. Do you think it's because it's
• 35:48
  the last day of the fiscal year? I don't know guys.
• 35:51
  We just got some input from our top analyst, Susie.
• 35:56
  She thanks, Susie, thank. You for that input.
• 36:01
  That's as as a good of an idea. As any I've heard.
• 36:05
  So thank you, but what Susie said is possibly because it's
• 36:10
  the last day of the quarter. Basically, maybe that explains
• 36:14
  why. I don't know, you know.
• 36:16
  But I'm sorry that it's. Trust me, it's probably.
• 36:21
  If it's any. Consolation to you as a silver
• 36:24
  investor. And you know, I'm a bowl on
• 36:28
  silver. I've been buying silver for 20
• 36:30
  years and I've got a lot of our money invested in precious metal
• 36:35
  mining stocks. This has got to be.
• 36:39
  In my opinion, what happened here in just the last few hours?
• 36:43
  Thank you, zos. For that super chat my.
• 36:45
  Friend, thank you. Thank you.
• 36:47
  Probably the biggest gut. Punch that I've ever
• 36:50
  experienced, Yeah, the power of the.
• 36:56
  I mean, I don't. Know the test comes before the
• 37:00
  reward. Thank you.
• 37:01
  Original intent. Thank you Zwas again for that
• 37:04
  super chat. People are moving out of moving
• 37:07
  the government bonds. Before the shutdown, before the
• 37:10
  light. They will make the dark.
• 37:12
  Yes. Yes.
• 37:13
  Dean can't say why. On YouTube.
• 37:16
  Yeah, probably. That's probably also very, very
• 37:20
  true. Yeah, before the dark.
• 37:22
  I mean you know I you know I we we've we've we've we've had the.
• 37:30
  You know the the Lucy. And Charlie Brown cartoon
• 37:33
  scenario so many times as silver and gold investors and precious
• 37:37
  metals investors right Lucy pulls the football at the last
• 37:41
  second. I don't know guys, this today
• 37:44
  is. Inexplicable to me.
• 37:48
  And that's about all I can say. I do want to say that.
• 37:51
  I appreciate you. Joining me, I know my spirits.
• 37:54
  Today we're not as high as typical, but I just.
• 37:58
  You know I want to be transparent with you if I've
• 38:02
  ever felt like. Digging a hole and jumping into
• 38:05
  it. Today was the day.
• 38:07
  With what went on this morning in those markets, you know it
• 38:11
  will be Okay, right? I always.
• 38:15
  I always. You know, recommend to
• 38:17
  everybody, If you buy silver, you buy.
• 38:19
  Gold you buy. Precious metal mining stocks
• 38:22
  don't do it with borrowed money. OK.
• 38:25
  Number one, right. And and dollar cost average
• 38:29
  overtime maybe today is a great. Buying opportunity.
• 38:32
  Maybe it is right now, the darkest before the dawn.
• 38:38
  We'll have to see how it all plays out.
• 38:40
  You know I will be here, I will not.
• 38:42
  Give up I. Made a promise to you, right?
• 38:45
  To put out a piece of content every single day for the rest of
• 38:48
  my life. I don't care if I have to be
• 38:51
  draped in black and crying on camera, I will continue to do it
• 38:56
  right because I still believe that the future, the value of
• 39:01
  silver, the value of gold, the value of.
• 39:03
  Platinum remains intact. But you know, if you're feeling
• 39:09
  some bad pain, and I don't know why some you know, it really can
• 39:12
  affect my. Emotions and my mood, you know,
• 39:15
  and I know I'll get attacked for saying that it's not a but, you
• 39:18
  know if you're if you're feeling that same thing, just know
• 39:21
  you're not alone. Okay and I will be back and we
• 39:25
  will have brighter days. There's no doubt about it.
• 39:29
  Maybe indeed, like some of you said it.
• 39:31
  Is darkest before the dawn. We'll see how it plays out.
• 39:36
  Right. I'll be here.
• 39:37
  For you. And I'll see you next time.
• 39:39
  Thank you for joining me today.