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⚡$200 SILVER⚡- You Best PAY ATTENTION to This! 🟢 (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Massive news stories will impact the silver and gold market this
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coming week. We have a lot to cover.
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There is a lot going on and we are going to talk about $8000
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gold, $200 silver. But guys, in just a few days,
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we're going to have this big presidential election.
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It could send shock waves through the stock market,
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through the economy and in particular through the precious
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metals. We'll cover more of that later
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in this video. First, I want to tell you, yeah,
0:30
you thank you for being here. It really is a big deal when you
0:34
join us here in the basement. You're welcome here.
0:37
Please subscribe to the channel, give the video thumbs up.
0:40
Super chat, super thanks are always super appreciated.
0:43
Let's run right out and take a look at this $8000 gold
0:48
prediction. We're going to go to FX Empire
0:51
where at first they say the gold price forecast a brief pause
0:55
before shattering $2800. This is by AG Thorson, a
1:00
respected analyst in the precious metal sector.
1:03
He says gold is nearing our $2800 target with potential for
1:08
further gains into year end. This election situation, how
1:13
this all plays out, it is going to be a real wild card.
1:17
The only thing I can say guys is buckle up buttercup.
1:21
I only say it once during the live stream because we are going
1:24
to be in for a wild ride. Anyone who tells you right now
1:28
that they can predict in the week or two after the election
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what's going to go on, on in the markets or in the precious metal
1:35
markets is feeding you a line of do you see this right here on
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the screen? Make sure I got you up, which I
1:42
do, feeding you a line of this bowl.
1:46
OK, It's going to be crazy, but we can still look out and see
1:50
what we can expect in the coming months, quarters and years.
1:54
This is interesting. Historically, during the last
1:56
two Fed rate cutting cycles, and don't forget just one month ago
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we did a rate cut, Gold surged approximately 40%.
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And you know what that'll do for silver following the initial
2:09
cut. If this pattern holds, gold
2:12
could reach $3500 next year. You know what?
2:16
Let's run out to the CME Fed watch tool.
2:19
This is super interesting. I was talking to Don Indris last
2:23
night and we were talking about what's going to happen after the
2:26
election with the gold price and the silver price and the mining
2:29
stocks. And I'm like, I don't know.
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I've been through enough of these to know that these
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elections can be crazy. I remember 8 years ago, I guess
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it was 8, when Trump was elected and I'd made some big
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investments into the miners. And the night that Trump got
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elected, correct me if I'm wrong, the gold price like
2:47
exploded higher because it was a big shock that he'd been elected
2:51
president. And then like the next day, in
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the following few days, the gold price just like fell apart.
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So you don't know how this will play out.
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But what is crazy interesting, and Don pointed this out, is
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that the next Fed meeting, the next Fed interest rate cut
3:06
announcement is going to be like the day after the election or
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two days after the election. Really strange timing, right?
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I mean, are they expecting to possibly have to make some big
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major movements? We don't know.
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But it's in 12 days and four hours.
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That would be today's the 26th of October.
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That would make that October 38th, which I believe is the
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same thing as November 6th. But let's take a look.
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This is, did you guys know this at this point, right?
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There's a 95% chance. This is the big money.
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This is what the big money is telling us about what the Fed
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will do. And this will have short term
3:43
impact on the gold and silver price.
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But they're saying that right now this is the current rate.
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It's really easy to read 4.75 to 5.
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And there's a 95% chance that at the November 7th meeting.
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So it'll be November 7th and not October 38th like I said
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earlier, or yeah, that the rate will get lowered to this range,
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4.5 to 4.75. And you can see that that's a
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quarter point lower. There is a 0% chance guys that
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we're going to get another half percentage point rate cut and
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there's just a 4.9 or 5% chance that they won't do anything.
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So at this point, what I think is really critical for us to
4:27
remember is that the gold price and silver price have basically
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baked in 1/4 point rate cut at the next Fed meeting, which will
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be just a day or two after the big elections.
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It's going to be nutty. Be prepared.
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Be prepared for big potential swings either way, but also be
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mentally prepared. It's so important for us, right
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to remember the monthly, yearly, the long term reasons why we
4:53
decide to invest in precious metals and precious metal mining
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stocks. Let's get back to this $8000
5:02
How's everybody doing today $8000 prediction OK, Newmont had
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their earnings. You probably heard that's the
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world's biggest gold miner and they their stock got clobbered
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because they only made almost a billion dollars in profit.
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Gold sentiment OK, pay attention to this.
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Despite gold reaching new all time highs.
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This is interesting. Google searches for gold price
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are still below peaks seen over the past five years, so not as
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many people have yet to go on to Google searching for gold price.
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This indicates that investor interest remains subdued,
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suggesting that there may be potential for further upside.
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That is, again, we talk about this all the time.
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Sure, we've got some new basement dwellers.
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We got thousands of people joining us here, guys, OK.
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But the reality remains we we've yet to see a real significant
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wave of new people coming into the precious metal sector.
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And when those people show up, you know it.
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I'm going to give you a look because this is important for us
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to remember. When those people show up,
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there's no more room on the lifeboat, right?
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We're the people that got, you're the person who got onto
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the lifeboat, the gold and silver lifeboat before the ship
6:21
was really sinking. You knew there was trouble
6:24
coming, right? When everybody else comes
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rushing, you're we're going to be floating off away from the
6:29
boat saying sorry, guys, you should have joined us earlier.
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You should have thought about this earlier.
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All right, back to $8000 gold. I apologize.
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I'm all over on you this morning.
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Here we go. Let's go down here.
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Technical update Gold had a a little bit of a negative
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technical what a bearish engulfing candle on Wednesday.
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But but standing tall, standing good silver here we go.
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Silver hits stiff resistance at $35 per oz and prices are
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correcting a little bit. Support near 3250 is near 3250.
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Should they dip any further? See if I can pull this up for
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you guys. Look at this chart.
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And it was actually better on the other screen.
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Hold on here, look at this chart.
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That's gold. OK, This is gold since May.
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I mean, this is so I got to do it.
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I got to do it. We got to look at this chart and
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I got to do it, OK, This is an is an inverse head and shoulders
7:34
pattern in my book, OK, in this, I mean, don't you just feel
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this? There's the shoulder.
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This is a guy or a gal or a woman standing on her head.
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That's the head and that's the shoulder.
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And those break out like this. Now, of course, that's on top
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of, I don't know, what do you see in that picture?
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You're supposed to see an upside, a person standing on
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their head, shoulder, head, shoulder.
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Do you see something else? Well, more power to you.
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Nonetheless, this is a very, very a good chart for a good
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technical chart, a good technical pattern very reliable
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for anything, whether you're looking at the price of of
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orange juice apple stock, whatever.
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And when it breaks above this, which it did it now it could
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come back. Hold on.
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Let's draw this quickly just for those of you.
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We could come back this 3250, which was resistance.
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We tried and tried and tried to breakthrough it.
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We did breakthrough it. If we come all the way wrong
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thing, if we come all the way back down, that's OK, right?
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If we keep going down, that no good.
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That's pretty unlikely at this point.
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But not out of the question. Nothing's out of the question.
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But what likely will happen is if, if Silver comes back to this
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3250 level, there will be a ton of support.
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It now is a support zone as opposed to a resistance zone,
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which it had been for five or six months.
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So what likely will happen as we come down here and then we
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bounce back up and we're all happy we're having big parties
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here in the basement. All right, let's get down to
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this $8200 silver. Platinum's doing well.
9:16
Good job. You know, we got a lot of
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platinum. The mining stocks are doing
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well, this and that. And that does matter if you look
9:23
at this. See if I can make that bigger.
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Anyway, look at that, right? There's a big uptrend that does
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matter for holders of the metals and obviously matters for people
9:32
who are invested in the mining stocks.
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The mining stocks are still undervalued.
9:37
And there's the GDXJ, right? Still a good looking chart
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still, J, that's the junior silver miners.
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Newmont got their lunch handed to them.
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A lot of shorting in that stock. Ignico Eagle will announce their
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that's the other one of the other world's biggest, most
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respected gold mining companies. They'll announce their earnings
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on October 30th. That will move the market with
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these gold. If these gold and silver stocks
10:04
guys take off, which they will in my opinion, continue to take
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off, that will bring, that'll bring a lot of money potentially
10:13
to those of you and me who have invested in precious metal
10:16
mining stacks. But it will also bring eyeballs
10:20
into the precious metal sector in general where we know because
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according to Richard Rule, Mr. Rick Rule, who I love, I've
10:27
always loved Rick Rule, we have a minuscule .5% of all the
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world's financial assets invested into precious metals
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and precious metal oriented investments, which I would think
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would include precious metal mining stocks, .5%.
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That is 25% right, of the long term average, which is 2%.
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So just to get back to the average, we're not talking about
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going above average. We're just talking just to get
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back to the C grade, right? Right now it's in an F to get
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back to AC grade. That's four times the amount of
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money coming back into the sector.
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All right, let's go here and talk about his, his Mr.
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Thornton's AG Thorson. I'm sorry, his conclusion?
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The bull market in precious metals is just beginning.
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How do you like that and is expected to continue into the
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twenty 30s? Woof, we're going to have a
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decade of fun basement dwellers. Gold can reach between 8010
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thousand, while I foresee silver exceeding $200 per oz.
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He says he believes high quality minors will likely deliver even
11:44
stronger performance. Guys, I mean, to me it's a no
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brainer when I think about the silver price 10 years from now.
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We don't really talk about that much, do we?
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Maybe we need to have a talk basement dwellers, where do you
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see that we'll just do silver. Where do you see 10 years from
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now when I'm 64 and whatever age you are now, you can add 10
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years and yes, we're going to be here.
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Yes, we will 10 years from now. Where do you think on October
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26th, 2034? The silver, I mean the silver
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price, I don't even it's hard. I'm just going to throw a number
12:23
out there. I'm going to say 900 and 73973.
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I mean, it's unbelievable to think long term where the gold
12:35
price and silver price are going to go because guys, look at
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this, look at this, think about this.
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In 10 years, think about this. This is going to make everything
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explode. Think about where that was 10
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years ago here. I think we can go back.
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There's a time machine. This is the US national debt.
12:55
Now we're we are approaching 36 trillion.
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We just hit 35 trillion for crying out loud.
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Let's go back. Ten years ago would be what,
13:04
2000? We'll go back to 2016 to 2016.
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We'll go back eight years. Yeah, look at that.
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Eight years ago, guys, we were at $21 trillion eight years ago.
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Where do you think it's going to be 10 years from now?
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It's at least it's probably going to be $80 trillion.
13:29
That's incredible. So let's say we're at 80
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trillion U.S. National debt, OK.
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And let's say interest rates are at 8%.
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That makes 6.4. That makes this number down here
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$6.4 trillion. OK, look, right now the US
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government only brings in five trillion.
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It's going to happen. You know what?
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Since we're here, let's go. Let's go take a look at our
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favorite number, the dollar to silver rate.
14:01
Oh my gosh. Oh, brother.
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OK, see my yellow arrow guys, it's way up in the right hand
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corner. It's going down.
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It's going to the dollar to silver ratio.
14:12
It is not. I just I honestly looked at this
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earlier while I was prepping for the live stream.
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It was at like 933. Now it is at 9:36.
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Unbelievable. Again, that's the number of
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paper dollars, whatever dollars being created via the M2 money
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supply for each one ounce of silver that's being created this
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year, $936. Now let's go out because we need
14:35
to need to update our list basement dwellers.
14:38
That is insane. Now that's not saying guys,
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that's not saying that. Oh yeah, the silver price should
14:44
be 900. OK, that was 933 yesterday.
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Maybe I was off on that, that's why we're keeping this list.
14:51
But none the less, excuse me, I'm choking.
14:58
Hold on one second. None the less, just 5 short days
15:08
ago we were at $729. OK, look at that big jump we had
15:15
on the on two days ago, the 9:30.
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I mean, it's incredible actually.
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I think that was yesterday, but none the less, that's where
15:21
we're heading. It is not looking good.
15:25
And oh, sorry guys, I'm choking here.
15:28
You got me all choked up. Basement dwellers.
15:34
We're going to keep an eye on it because yes, that doesn't mean
15:37
that the silver price should be 936 dollars.
15:40
I've never said that. That's the ratio, right, Of
15:44
paper dollars for each one of these.
15:47
I'm sorry. No, I got that wrong.
15:50
For each one of these that's being created this year, there
15:55
are now 936 dollars, 936 being added to the to the M2 and I got
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to do this again. This for those of you who are
16:06
new, This is why you own. This is why you own silver.
16:10
This is why you own gold. We'll do the example with
16:13
silver. If this, this is silver, this is
16:16
paper money. If this was all the silver in
16:20
the world and this was all the paper money in the world, OK,
16:24
It's very difficult to create more of this.
16:27
They can create as much of this as they want, which is why the
16:31
dollar, you know, in the 70s lost 75% of its purchasing
16:35
power, for example. But what makes it even more
16:37
exciting for us guys, while they can create as many of this as
16:41
they want, the amount of this above ground.
16:45
If you imagine this, imagine this being all the world's
16:48
silver, a giant pile, whatever it is, all the OR world silver
16:53
that's above the ground that's been mined and is in storage and
16:57
your basement. This would be part of it, but it
16:59
would be billions of Oz. Not only is this remaining
17:04
stable, oh, no. Oh, no, no, no, no, no, no.
17:08
All the world's silver, that pile is actually going down
17:12
because the world is consuming. Remember, there's that silver
17:15
deficit going on and we forget about that.
17:19
I'm going to do it again because it's so important.
17:21
All the world's paper money and all the world's silver.
17:25
They can make as much of this as they want in this.
17:28
The amount of this is going down.
17:31
That's a fact, OK. And it's crazy.
17:35
How can this not go up in value when there's this the amount of
17:40
this is going down the the the the supply of this in the world
17:45
above ground is going down. And we know this is just is is
17:49
increasing exponentially. And if you have a calculator,
17:53
which I know you do and I do, right, they're going to have to
17:56
print money. OK, I digress.
17:58
What about the silver squeeze? What if there is no silver
18:01
squeeze? What did Kitco say?
18:03
What if there's no silver squeeze?
18:06
Very interesting article from our friend Neil's over at Kitco.
18:10
And I even highlighted it for us today, guys.
18:16
There's Neil's Hello, Neil's welcome to the basement.
18:18
It says the hashtag silver squeeze is real.
18:22
It's not, it's, it's just not what you think it is.
18:26
OK, basement dwellers, you're we're apparently we are wrong,
18:31
says silver prices continue to consolidate after briefly
18:37
hitting a 12 year high of $35.00 an ounce.
18:41
Although the market has found initial resistance at 34 an
18:45
ounce, a growing number of analysts expect the precious
18:48
metal still has room to rally. OK, but however, some analysts
18:54
note that the bullish investors should be paying attention to
18:57
factual bullish factors. Not not not silver pumpers in
19:01
their basement in Saint Louis. No, you need to listen to an
19:04
analyst, OK? And be careful not to get sucked
19:08
into false narratives. Two of the biggest myths these
19:12
are this is how you're being fooled.
19:13
OK, propagated by silver squeeze proponents are that the futures
19:18
market is a fabrication of demand because there are more
19:22
paper contracts in the marketplace than there are
19:26
physical Oz. Let's run out here.
19:29
Hold on and I'll show you what we're talking about.
19:33
We're done with that part. Here it is right here.
19:36
Right? See my see my yellow finger, my
19:38
yellow pointy paper to silver ratio 408.
19:43
There are 408 Unicorn fart dust paper contracts for each one
19:48
ounce of real silver that's being created.
19:49
But we shouldn't pay. Don't look there is what they're
19:52
telling you, OK? Don't look there because they
19:55
say, oh, that that does not really represent demand because
20:01
I'm going to give you the nutshell of this.
20:03
All of those contracts are, are usually settled in cash.
20:08
OK. Well I would argue until they're
20:11
not right until there's is a a break in the market when the
20:16
physical price overcomes the paper price.
20:22
I would like to talk tell that and I think we don't you agree,
20:25
like we might want to remind this analyst that last couple
20:29
years ago that happened in the nickel market in London and they
20:33
had to shut the whole market down.
20:35
There was a little problem. So these things do happen, he
20:39
says You just can't take delivery and store it in your
20:42
garage of silver, One trader said in an interview with Kitco
20:46
News. Well, I would argue with that.
20:48
I'd be happy to store it in my garage.
20:51
Could you imagine that, Susie? I know and thank you to all the
20:55
moderators for being here today. Hold on, We're going to come
20:57
back to this article. Susie is at her mom's house.
21:02
So thank you, Susie. Thank you, Jake from Jake and
21:04
the one and only Annie Oakley and of course, big Tim the
21:07
Silvershire. But Susie's over taking care of
21:09
her mother. So I'm doing this all by myself.
21:12
But could you imagine if she came home?
21:14
We have A2 car garage from her mom's in our in your.
21:17
Imagine your garage full of silver.
21:22
It could happen. It could happen.
21:24
All right, let's get back to the article.
21:26
So we're wrong about that. He also says reports that banks
21:30
are holding massive losses on their Silver Sharks shorts are
21:34
erroneous. But this belief led to more than
21:36
100 million ounces of ETF inflows in 2021.
21:40
That was the silver squeeze. That's according to Daniel
21:43
Golly, senior strategist at TD Securities.
21:47
Analyst has said that many bullion banks are short silver
21:50
not because they want the price to go down.
21:52
No, of course not. No, they wouldn't want the price
21:55
to go down, but because they're hedges against long positions
21:59
and other derivative markets, blah, blah, blah.
22:01
Here. This is where it gets
22:02
interesting. In his updated note Thursday,
22:05
Golly though reiterated his call that the silver squeeze is real,
22:12
but it's not just what investors think it is.
22:14
He explained that investors should be paying more attention
22:17
to physical silver holdings and above ground stocks.
22:21
Like I showed you earlier, right?
22:23
There's only so much silver, including that piece of silver
22:27
that you can pick up right now. Maybe you have one in your
22:29
pocket or you've got one stored away or wherever you keep your
22:33
silver, right? That's part of the above ground
22:35
silver. And that is shrinking, guys.
22:37
That is shrinking, OK on a daily basis, it's getting smaller and
22:43
smaller. The mines cannot keep up with
22:47
the amount of silver being demanded by the marketplace.
22:50
So if if you just hold one ounce in your hand, OK, OK, just look
22:57
if this again, shoot, if you just hold one ounce of silver in
23:02
your hand, right, that's above ground silver.
23:05
And if this, if this was all the silver above ground in the
23:09
world, right? There's some that was being
23:10
added to it by the mining companies, but more of it was
23:14
getting sucked out, right? Just a little bit.
23:16
It just shrinks and shrinks. This would shrink and shrink and
23:19
shrink and shrink. And you know what it would
23:20
you're wind up like this is great.
23:24
I did this on accident. It would wind up like that.
23:27
That's a 110th oz upside down UK Britannia.
23:33
I love these things. Hold on here, here's a itsy
23:39
bitsy and there we go teeny weeny King Charles.
23:44
That's this. This right is going to
23:48
eventually turn into this. I digress.
23:52
Let's talk about $50 silver because this guy that these
23:55
people that are bashing the the silver squeeze, then they come
23:58
back and say, but we think the price of silver.
24:00
Why, why, why? Where are they?
24:02
Where are you? There you are, he says.
24:05
The the the legitimate case for a silver squeeze you can buy
24:09
into is rather associated with the drawdown in inventories amid
24:13
structural deficits and pressure release valves that are showing
24:17
no signs of being triggered at the current prices.
24:20
That's what we just talked about.
24:22
TD Securities is also bullish on silver as the Feds new easing
24:26
cycle is expected to push bond yields and real yields lower.
24:29
We talked about that the other day.
24:31
Real interest rates, which in turn should weaken the US
24:34
dollar. They're also bullish on silver
24:36
due to strong industrial demand. This is particularly true
24:39
because silver remains critical. Blah blah blah.
24:42
We know that. But TD is not alone in their
24:45
bullish outlook, according to a survey by the London Bullion
24:50
Market Association. The LBMA, those good boys over
24:54
in London, England, who've manipulated the price of silver.
24:57
The guys in England have manipulated the price of silver
25:01
not just for decades like here in the United States of America
25:05
on the COMEX, the crime acts. No, the boys in London have
25:08
manipulated the price of precious metals for centuries.
25:12
But now, what are they saying now?
25:15
What are they saying? OK.
25:16
The London Bullion Market Associations 2024 Precious
25:20
Metals Conference, which was, I think it was in Florida just a
25:23
couple weeks ago, delegates expect this is the LBMA.
25:27
The delegates expect silver prices to reach $45 per oz in
25:33
the next 12 months. Now let's talk about what Alex
25:37
Kupich Kovich says. He's a senior market analyst at
25:41
FX Pro, said in a recent note that while he's bullish on the
25:45
precious metal, momentum indicators are starting to turn.
25:49
RSI surged above, over overheated territory, blah,
25:54
blah, blah. At the same time, he also sees
25:57
any weakness in the silver price as a buying opportunity quote.
26:02
The potential upside target for silver looks to be the $35 area
26:07
where the 2012 rally ended after the 2011 sell off.
26:11
However, a potential shake out of short and and medium term
26:15
bullish positions around $35 range could pave the way for
26:20
long term buyers to step in decisively.
26:22
In the moment we've all been waiting for, this shift may set
26:26
the stage for silver to target a new all time high, potentially
26:32
surpassing the $50 mark. All right guys, there we have
26:37
it, $200 silver, $45.00 silver, $50 silver.
26:43
Can I get 65? Hey, we'll say 65.
26:46
What the heck, we don't care. You want to know?
26:47
This is interesting. I've got some, I've got some
26:50
inside news from one of the owners at Pmbecs.
26:56
I want to run out the Pmbecs and say thank you to Pmbecs for
27:00
sponsoring Ron's basement guys. If you're looking to get your
27:03
hands on gold, silver, platinum, group metals and you're going to
27:06
look online, please, please make Pmbecs one of the companies that
27:11
you check out. I can tell you from my
27:13
experience and from an overwhelming number of basement
27:16
dwellers who've checked out Pembacs, you will be impressed.
27:21
You need to do your own due diligence, make your own
27:23
decisions, but Pembacs always has ultra competitive pricing, a
27:28
great selection, right? And number one, number one, no
27:32
matter where you buy your metal, make sure it's a company you can
27:35
trust. I trust Pembacs.
27:37
I think you will too after you check them out and do a
27:40
transaction with them. I worked with them before they
27:43
sponsored the basement and they make this possible.
27:45
I couldn't do this without the support of the sponsor.
27:49
So thank you, Pinbecs. Now I want to read you something
27:53
that I got from Michael, one of the owners over at Pinbecs.
27:57
And there's two very interesting things that he points out in
28:00
this in this short note. I asked him, tell me what's
28:02
going on like after last Friday when we had this massive move
28:07
up. Are you, I know, are people
28:08
buying gold? Are people buying silver?
28:10
And he says, hey, Ron, here are our insights from last week.
28:15
OK, More people are choosing to protect their savings with gold
28:19
and silver and want their money out of the banks.
28:24
This is interesting. It's the number one reason we
28:28
keep hearing from both new and returning customers.
28:32
I was surprised by that mean, I know that that line of thinking,
28:37
but it sounds like they're hearing that, oh, now these are
28:40
people who are interested in buying precious metals.
28:42
So it's a obviously it's that segment of the market, but the
28:48
fact that they're hearing people say this like we want to get
28:51
more money out of the banks and into metals, you know what that
28:56
means guys, that only means one thing, right?
28:59
He says retail sales have remained strong since last
29:02
Friday. Platinum sales are the biggest
29:04
gainer this week because I think we had a move up in the platinum
29:07
price. Another interesting thing be be
29:11
prepared after the onslaught of sales last week, we do expect an
29:16
uptick in wholesale premiums as suppliers recover as supply
29:20
recovers, meaning you could start seeing premiums inching up
29:25
right. The amount that you pay above
29:27
the spot price for whatever product whether it's a ball, a
29:30
silver bar, a gold bar, gold coin, silver sovereign.
29:35
So we could see in that again, right, that's we've had really
29:40
low. You've we've been spoiled.
29:42
You're spoiled rotten, especially if you live in the
29:45
United States of America, you are spoiled.
29:49
I'm spoiled, right. We our premiums were paying, I
29:54
mean, we're paying two or three dollars over spot for silver.
29:58
I mean, that's crazy guys. If you talk to somebody who
30:02
lives in London, they I mean, I mean, it's unbelievable how much
30:05
more people in Germany, how much more they pay for an ounce of
30:09
silver or an ounce of gold. OK, hopefully that doesn't
30:12
happen. But in these environments, it's
30:14
always good to set a plan and stick to it.
30:16
And I always love it that Mike says this, always says this.
30:19
So whether you dollar cost average or by the debt, remember
30:23
to stay patient. This is a guy who sells gold and
30:26
silver, right? Say be patient, don't do
30:29
anything rash, be smart about it and always stack responsibly.
30:33
Again, that's a message from Michael, one of the owners at
30:37
Pembeck's. Thank you, Michael, thanks for
30:39
sharing that insight. I think the two big takeaways
30:42
there are the people that they're hearing more and more
30:45
people saying that they would rather hold their wealth or a
30:50
segment of their wealth in precious metals as opposed to
30:52
have it sitting in a bank. I mean, I mean, I never thought
30:57
about this, but there's really 2 risks the the counterparty risk
31:01
with a bank, right? Your, your, your dollars, right?
31:05
These things that are in the bank, right?
31:09
Yeah. I mean, banks do go belly up.
31:10
I know we have FDA, I'm not saying there's banks are going
31:13
to go, but they have gone belly up, right?
31:15
And on top of the, the other risk is, is this sits in the
31:18
bank. Most banks like on savings
31:22
accounts or checking accounts don't really pay any interest
31:25
still, right? I mean, my bank, I have a bank,
31:28
I have some money in the bank. I just paid bills this morning.
31:31
Maybe that's why I'm in such a such a uptight mood.
31:35
Anyway, they don't pay, they pay like .25%.
31:39
You know, I'll see it come through on my, on my checking
31:41
account or my, and it's like, Oh yeah, you made a, you know, 48
31:45
cents interest, whatever. It's like, OK, so there's two
31:48
risks, right #1 the counterparty risk with the bank, but #2 the
31:54
risk that your dollars that you do store in the bank will
31:58
continue to go down. Do you know, did you know this
32:01
in the 1970s? I heard Rick Rule say this the
32:05
other day. The dollar lost 75% of its
32:09
buying power. I didn't know that, right?
32:12
I was born in 1971. That means like if if my grandpa
32:16
gave me $10 when I was born, it was very frugal and he he, he
32:22
passed away and had a good amount of saving.
32:24
So he maybe he did. But anyway, if he gave me $10
32:27
when I was born, it would only be worth 250 in 1980 when I was
32:32
10 years old. Thank you Ramos.
32:33
Hey, we got a super chat from Switzerland guys.
32:36
We are a worldwide force silver investors, gold investors.
32:42
Thank you. Ramos Say that is awesome.
32:46
That's something we don't realize still.
32:48
And you know that how big and how how how powerful and how the
32:55
silver and gold markets have permeated every every inch of
33:01
the world. OK, if you're part of the silver
33:05
market, are you part of the silver market?
33:07
Yeah, you are right. You're you're part of a market
33:10
that is permeated every inch of the world.
33:12
We don't give that enough credence, right?
33:15
This and timeless. I mean, it's absolutely crazy.
33:21
Switzerland. Hello.
33:23
Welcome. You're probably in your
33:25
basement, my friend in Switzerland.
33:26
OK, big news yesterday. I haven't had a chance to maybe
33:30
you guys know more about this than I do, but Israel Lance
33:33
launched counter attacks on the Iran last night.
33:38
Scary situation, scary timing, being like a week or so before a
33:43
major election in this country. I don't want to scare anybody.
33:47
I don't want you to. I don't want to be the doom and
33:49
gloomer. But I'm of the belief and I
33:53
heard someone else. This is was not an original
33:55
thought. OK, this one I learned from one
33:57
of you basement dwellers, and I hadn't thought about it this
34:01
way, but we've got a major election coming up.
34:04
There is so much vile hatred simmering right under the
34:08
surface on both sides, right? I'm not a political show.
34:13
I'm not going to go there. But on both sides, there's this
34:16
vile hatred simmering under the surface.
34:19
What I hope doesn't happen, but what I think is somewhat likely
34:24
to happen is that in one of you pointed this out to me.
34:29
Everybody thought the period like right now leading up to the
34:32
election that it would be crazy and you know, we could have some
34:36
social dis or whatever. And I don't want any of them
34:38
remember, right? I love this country self waving
34:41
American flag, all right, but but the reality is think about
34:46
this. What we really have to worry
34:47
about is what happens after the election, because half of these
34:53
people that have this simmering vile hatred toward one another,
34:58
either this these people or these people are going to lose.
35:01
OK? And they could go a little nutso
35:04
right now on top of that. That's if we have a clear
35:09
winner. If we don't have a clear winner
35:11
right, then it would, it could turn into so, So I think either
35:15
we're going to get half the people of the, of the United
35:18
States are going to be really angry, right?
35:21
Either the Democrats or the Republicans.
35:23
And if we don't get a clear winner, OK, so half the people
35:28
that'll create some turmoil. And if we don't get a clear
35:31
winner, right, the other option, that's going to be crazy too,
35:36
you know, uncertainty, the gold and silver market.
35:39
I got a feeling, OK, now I was talking with Don Indris last
35:43
night. He's like, what do you think's
35:44
going to happen with the gold and silver price in the mind?
35:46
Like, I don't know, I think it's going to be crazy.
35:49
We started talking about this after this election.
35:53
You know, we could go, we could have a big drop in the silver
35:57
and gold price. We could have a big upswing.
36:00
We like that idea better, right? But one thing I know is it is
36:04
going to be crazy, right? I'm not making any big bets one
36:09
way or the other. I've learned my lesson on that,
36:12
on these situations that are so contentious, so crazy.
36:15
OK, the gold price, do you know the gold prices rallied 6 out of
36:19
the last seven weeks. To me, that is very, very
36:23
interesting. Let me go and pull up this for
36:28
you because briefly we're going to look at what Fox News.
36:32
Fox News on Yahoo Finance as an article.
36:35
Gold prices rise to all time highs with U.S. debt mounting
36:39
election uncertainty. OK, Prices for gold futures have
36:44
risen 32% year to date and 38% in the last year.
36:49
Guys, 38% in the last year for gold.
36:53
Gold reached new record high of 2738 on Monday and 2760 on
36:58
Tuesday. Wow.
37:01
Investors have turned to gold as a safe haven because of
37:05
geopolitical rest, Middle East, Ukraine, uncertainty surrounding
37:09
the US economic policy after the election.
37:12
And that's on top of this, the election could be crazy in the
37:16
election could be contentious. And even afterwards, nobody
37:20
really know. Neither of these, neither of the
37:22
candidates are really addressing the massive issue we have in
37:26
this room, in the room, which is we're in deep financial trouble
37:32
in the United States. OK, this article doesn't really
37:37
get into a lot more that I think we need to talk about.
37:40
But remember, let's talk about this one more time, OK?
37:43
The election potentially right half the if there's a winner,
37:48
half the people are going to go crazy potentially if there's not
37:52
a winner and it's and it's and it's being fought right.
37:56
They neither one wants that could be uncertainty.
38:00
But then even if there is a winner, both the candidates,
38:03
neither one of them are really addressing this.
38:06
You guys see it. Do you know what I'm talking
38:08
about? That right there.
38:10
That's an elephant. That's the elephant in the room
38:13
for the United States. Neither one is talking about it.
38:16
It is going to gold and silver. Oh my God.
38:21
I just, I mean, in the next year, I think we're in really
38:24
good shape, OK. I mean, I, I think we, we don't
38:28
even realize how bad of shape fiscally the United States is
38:34
and how it can only do one thing to the gold and silver price.
38:37
It can only it can only make it go up because the only thing
38:41
that they can do to print is to print money.
38:44
That's it. That's it.
38:46
Period. All right, let's go look at the
38:47
silver price and look at the chart.
38:50
Our favorite, Mr. Silver. And there you are.
38:54
Yep, you're here. We're on a field trip, basement
38:57
dwellers. Thank you guys for being here
38:59
this morning. We go out here, we're moving
39:01
around Yahoo Finance, and there's Goldie and there is Mr.
39:08
Silver. And let's see what we can look
39:14
at here on silver. We know that gold went up 38%,
39:21
like this is a one year chart of silver.
39:23
So one year ago right now as we sat here in the basement on
39:27
October 26th, 2023, October 30th, here we go.
39:33
Silver was we're going to say roughly $23 per oz in the
39:39
futures market today, right? Silver is almost $34 per oz in
39:46
the futures market. We are in good shape.
39:50
We looked at this earlier. I'm not going to draw the line
39:52
on there again, guys, right? Silver can pull back the line in
39:57
the sand. When you, you 3250, you got to
40:01
get scared. If I'm sitting down here in the
40:03
next week or two or three or four and we're talking about
40:06
2928, I don't think we will be if we're talking about silver.
40:11
At 31, if this week Silver gets down to 3250, you're gonna I'm
40:16
my my demeanor will change. I'll still love you, right?
40:20
You know I love. This is great.
40:21
We have our club here, but it's going to get scary if that
40:26
happens. What likely will happen is we'll
40:28
get that bounce off that 323250 range.
40:32
Could be wrong. We'll see how it we'll see how
40:35
that all plays out. Is China now the world's biggest
40:38
China, the world's biggest economy?
40:41
And what about Russia? The big bricks meeting this
40:43
week? Right now, I've been doing a lot
40:45
of there's been a lot of information put out the big
40:48
bricks meeting in Russia. We know that the Russians are
40:53
now explicitly saying that they're going to start a metals
40:57
market, right? Their own version of the COMEX,
41:00
their own version of the LBMA. And think about this.
41:05
The Chinese already did this not too long ago, right?
41:09
Our friend the Shanghai Ghost, right?
41:12
The Oriental Ghost. I'm sorry, so we know that
41:16
that's happening. Why is this a big deal?
41:19
But this is unbelievable. This is from the IMF.
41:22
These countries are moving towards precious metals.
41:26
They were already much more centric on metals than than the
41:30
than the West, right? We're centric on paper.
41:32
Unicorn fart does make believe money.
41:34
They're centric on real money, real assets.
41:37
OK, but why is that a big deal? Wait till you hear this.
41:42
This. I was shocked this came from
41:45
this comes from metals and miners, which I believe is a sub
41:48
stack. But First off, they talk about
41:54
what happened, right? Like remember two years ago when
41:56
President Biden said the ruble or the ruble will be rubble or
42:01
something like that, like we're going to destroy Russia?
42:04
Well, it hasn't quite worked out that way because the
42:06
International Monetary Fund, the IMF, is now ranked Russia as the
42:10
world's fourth largest economy based on purchasing power for
42:15
parity PPP. OK, I'll read you what it is.
42:19
Compares the economic productivity and standards of
42:21
living between countries by adjusting for differences in the
42:24
cost of goods and services. All right, this is where it gets
42:28
interesting. According to the report, Russia
42:30
now ranks 4th in terms of PPP after #1 China #2 USA and #3
42:41
India. OK, so that means that by this
42:44
measure, China is the largest economy in the world.
42:48
OK, the USA is number 2, but then you have India and now you
42:53
have Russia. The latest figures show the
42:55
world's leading economies by PPP now include three BRICS
42:59
countries, China, India and Russia.
43:02
The report author's note pointing out that Russia's
43:04
upgrade has been driven by Western sanctions.
43:09
OK, think about that, guys. Those are now three of the four
43:13
largest economies in the world are bricks countries.
43:15
Bricks countries are moving into away from the US dollar.
43:20
They are de dollarizing. What does that have to do with
43:23
silver and gold? It has everything to do with
43:26
silver and gold. Because are you hearing now what
43:28
everybody's talking about? We started talking about this
43:31
like 3 or 4 weeks ago, really honing in on it.
43:35
But now, right is more and more there's this shift away from the
43:40
US dollar that means people don't need dollars in the world.
43:44
The dollar permeated the world, painted the world with paper
43:48
dollars. That's what the United States
43:50
did. Print, print, print, print,
43:51
print now, right? And it's going to, it's not
43:54
going to happen overnight. But those dollars are coming
43:58
back to the United States, right?
44:00
When there's less demand for something, it goes down in real
44:04
value. And when the dollar goes down in
44:07
real value, which is happening right now in this world, that
44:12
makes the silver price and gold price go higher and higher and
44:15
higher. It's going to be an interesting,
44:17
it's going to be interesting how this how this plays out, You
44:21
know, and don't forget, guys, I know it can be lonely out there
44:25
for US silver and gold investors.
44:26
We are not part of the crowd, right?
44:30
I was listening to that song last night and they said they're
44:33
they not like us. They not like us, the, you know,
44:35
the sheep, all right, that that don't really dig in to discover
44:41
what's going on, right? They're not like us, but they
44:45
will. We will see, unfortunately or
44:48
fortunately, big waves of these people joining us right when
44:52
this when all of this starts to come unglued.
44:55
Oh, this is crazy silver. OK.
44:59
There's a limited amount of supply of silver in the world.
45:02
We know we looked yesterday, India is importing.
45:05
I think we figured they're on track to import almost 300
45:08
million ounces of silver this year, India.
45:12
But now we know that China by you may have questioned me on
45:15
this, China with silver, China is bypassing the Comex and the
45:23
LBMA. They're going directly to the
45:26
silver producers. OK, Now what proof do we have or
45:31
what more proof do we have that this is going on?
45:34
This is from, we're going to go all the way to China and visit
45:38
with our good friend the Oriental Ghost.
45:41
OK, here he is on Twitter. Great guy.
45:45
Let's let's look at this. This is critical.
45:48
This is big. The largest port.
45:51
This has everything to do with silver.
45:52
I'll explain to you why. In South America, largest port,
45:57
Queen Kai Port, which is built and controlled by China, will
46:02
undergo trial operations next month.
46:05
South American silver concentrate.
46:09
That means the unrefined silver, the silver that still needs to
46:13
be refined, It's been dug up out of the ground.
46:15
It's been processed to a point where they can call it
46:18
concentrate, OK And other mineral raw materials will be
46:23
directly transported to China. This is the biggest port in
46:29
South America and it is in Peru. Let me see what there was.
46:35
Where did I see the part says it was in Peru.
46:39
Here we go. Let's look at this after
46:41
Colombian foreign minister's visit to China.
46:43
OK, Peru's Chanchay port is about to put to be put into
46:47
operation and China is accelerating its layout in Latin
46:52
America. This is China.
46:56
Take. Hold on here.
46:59
Hold on, guys. Hopefully you can still see me
47:02
and hear me. Oh, wow, 23 more thumbs up.
47:05
Susie just sent me a text and we'll ring the gong.
47:08
OK All right, 23 more. This is a big deal because this
47:11
is this is silver. Remember, remember how we said,
47:16
right? There's only so much silver in
47:18
the world. There's a deficit every year.
47:21
And China is is adding, I guess you could say to that deficit,
47:26
right? Adding to that to that, that
47:28
what is a really, I don't startling situation in the
47:33
silver market. By now we know they're doing it
47:36
with Mexico's, the world's biggest silver producer.
47:38
Peru is either #2 or #3 Peru's massive for silver.
47:43
OK, So is Colombia, right? So is Bolivia, right?
47:48
These countries have a lot of silver.
47:50
But now instead of selling it in the traditional way where it has
47:54
to go through the COMEX in the LBMA, China's like don't worry
47:59
about the COMEX in the LBMA, we'll give you a much better
48:03
deal and you can just ship it directly to us.
48:07
What do you think that's going to do right to the I mean supply
48:10
and demand, it fixes everything. All right, guys, I want to say
48:13
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we want to keep an eye on. You want to hear the sweetest
48:58
silver story in the world, huh? Let's go.
49:02
Let's let's talk about this. Here we go.
49:05
This is from a guy gold and silver miners on X and man, he
49:10
says, look, are you disillusioned with silver?
49:14
Do you want to believe this time is different?
49:16
But can't get past being burned for years, right?
49:20
The battered bowl syndrome. We've been beaten, beaten,
49:22
beaten. I've I've tried guys, we are in
49:25
a new era. But let's I'll let him explain
49:27
it to you. Let me explain why silver in the
49:31
silver price this time really is different.
49:35
OK exploding demand industrial uses solar EB green tech
49:39
creating lasting demand. Just in August, Samsung came out
49:44
with a new long term battery storage right silver.
49:46
They predicted silver demand could increase by up to 25,000
49:51
metric tons a year. That's 82% of the current annual
49:55
supply of silver. And then he says, holy crud.
49:58
OK, the weak dollar is the dollar weakens and inflation
50:03
persists. Silver offers both protection
50:05
and potential for explosive growth.
50:07
Gold moves first, guys. Silver follows, but silver
50:11
outperforms gold. Ho, ho, ho, Wait a minute.
50:14
We'll come back to #3 We forgot, right?
50:18
Right. Gold goes first, silver goes
50:21
second. That's the way it works.
50:23
And we've not really seen the silver price moving yet.
50:30
A global debt crisis. Central banks have no other
50:32
options. They can just print and keep
50:34
printing. Silver is the natural hedge and
50:37
paper market strain. Demand for physical silver is
50:40
starting to outpace the manipulated paper mark, bringing
50:46
true price discovery closer. This will intensify this time
50:50
silver fundamentals are unstoppable.
50:53
A new high is on the horizon. This time is different.
50:57
Do you believe I'm going to say I'm going to ask you, do you
51:00
believe? Do you believe you know it
51:02
doesn't hurt, right? I'm going to say yes and then I
51:08
am going to ring the gon for all the thumbs up we got today.
51:11
This is a a symbol of our community here in the basement.
51:15
Guys, hold on. Got to fix the gong.
51:21
There we go. All right, guys, thank you for
51:34
being here. Have a great day.
51:35
You really are the most important part of the basement.
51:38
I appreciate your support. I appreciate the camaraderie
51:41
that we have together here. If you haven't subscribed to the
51:45
channel, please consider doing that.
51:46
It is free. Give the video a thumbs up.
51:49
But most important, have a great day.
51:51
Thanks to everybody. Thanks, Susie.
51:54
Thank you, Jake from Jake's Custom Parts.
51:56
Thank you. Annie Oakley.
51:57
Thank you big time, the Silvershire and thank you.
52:00
Yeah, you. I'm looking at you.
52:01
Thank you for being here. Have a great day and I will see
52:05
you soon.