Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **SILVER SHINES** Catastrophic Economic NEWS (Silver Price $131.50)

Transcript

**SILVER SHINES** Catastrophic Economic NEWS (Silver Price $131.50) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
What if, just what if we have world record demand for silver
0:05
in the coming years? Can you even imagine how high
0:09
the price could go? We're going to talk about that
0:12
this morning. But there's some bad news
0:14
because one critical component of silver is showing some major,
0:20
I mean major weakness. We're going to cover that also.
0:25
It's the old basement dweller doom segment.
0:29
Boy, we got Dweller Doom, Depression.
0:31
What signs do we have that we got just last week that show
0:36
that the economy could indeed possibly be heading into some
0:40
very difficult waters? And we're talking about
0:43
depression. When we put all these together,
0:46
guys, it is not looking good for the US economy, but we know that
0:50
silver and gold will fare very well in that environment because
0:54
the only option that our Federal Reserve will have will be to
0:58
print money. We're going to cover all of
1:00
those. We're also going to talk about
1:02
some big moves with gold. We've got, we got a ton to
1:05
cover. This is a major update this
1:07
morning. So thank you for being here.
1:10
Thank you for being part of the basement.
1:11
Please. You know what's free?
1:14
All the content is free. There's no obligation.
1:17
You know what else is free? Give this a thumbs up and I want
1:21
you to subscribe. Subscribe.
1:23
I have a hard time saying that word.
1:25
Subscribe, because then you can come back and be here in the
1:29
basement with me anytime you want.
1:31
Let's dig right in. Is it crazy to you?
1:36
What's going on with Silver demand?
1:38
We're hearing these unbelievable numbers about where the Silver
1:43
Demand levels will be in the coming 5 to 10 years.
1:47
But let's let's go over to Kitco, our good friend Neil's
1:52
here headline silver market to see record industrial demand
1:57
outweighing lackluster investment demand and ETF
2:02
outflows. Guys, there's some good news in
2:04
this, but there's some real scary news as well.
2:08
Let me hear. Industrial demand is expected to
2:11
hit record highs this year. Total global physical demand for
2:15
silver is expected to ease slightly to 1.14 billion oz,
2:21
down 10%. So overall demand for silver
2:25
this year is actually expected to drop.
2:28
OK, this comes from metals focus on behalf of the Silver
2:33
Institute. Here's a quote.
2:37
Gains and industrial applications will be offset by
2:40
losses in all other key segments.
2:44
So industrial demand for silver is going to skyrocket.
2:47
All other key segments, they're saying we're going to see
2:50
decrease in demand. Despite the fall, total demand
2:55
remains elevated by historical standards, making 2023 figure
3:00
the second highest level in history.
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OK, now this is where it gets interesting.
3:05
There's some things that I didn't know that I want to share
3:08
with you right now. OK.
3:10
Industrial demand is expected to grow by 8%.
3:15
They obviously photovoltaics, we're going to talk about that
3:18
here in a second. Power grid, 5G networks, that's
3:21
all driving increase in demand for silver from the industrial
3:26
side. But where is the man falling off
3:29
a Cliff for silver, It says. Despite record amounts of silver
3:34
flowing into industrial applications, investor demand
3:38
remains a critical missing piece of the market.
3:42
Is that you? I mean, you're a basement
3:45
dweller. You're probably a silver lover,
3:47
but Kitco's telling us that we're not buying any silver.
3:51
What? What's going on here?
3:54
Physical demand from the investment sector is expected to
3:58
fall by 21% to 263,000,000 oz, representing a three-year low.
4:08
Now I'm going to tell you why this is.
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Actually there's a silver lining, pardon the pun, OK, why
4:14
there's a silver lining to this, But we've got a 21, not 20, but
4:19
21% decrease in demand for silver from investors.
4:24
What's wrong with us? Maybe we all need to buy some
4:27
more silver right now. I'm going to dig in and give you
4:30
a couple data points that are that are that are directly
4:33
related to this that are going to knock your socks off.
4:36
But first, I think maybe we should all consider buying some
4:39
silver. So when you go out there to look
4:41
for some silver for yourself, I want you to throw one company
4:46
into the mix. I want you to do some comparison
4:48
shopping. I encourage you to do that.
4:51
Check out Pinbex, do your own due diligence.
4:53
They are a sponsor of this show, so I'm a little biased.
4:56
I am a customer, was before they were a sponsor.
5:00
So I am a little biased. But I think you'll find what I
5:04
found. Their prices are always the
5:07
best. Their selection is always very
5:10
good and their customer service, their reputation, your ability
5:15
to trust them. Again, you do your own due
5:17
diligence, OK, but I have found that I trust them and that when
5:21
I read what other people say about them, they feel the same
5:25
way. As a matter of fact, I learned
5:26
about Pinbex from you, some of my subscribers that emailed me
5:30
and said if you want to get the best value, check out Pinbex.
5:33
And what I found is that with the prices at Pinbex compared to
5:37
some of the other online retailers, when I buy from
5:39
Pinbex, I save so much money that I can actually buy some
5:42
extra silver. I think Pimbex is best.
5:45
The online bullion dealer Pi MB EX.
5:48
Check them out for yourself. Now what?
5:50
Wait a minute. You.
5:52
Are you the reason? Are you in Germany?
5:55
Are you joining me from Germany? Are you joining me from India?
5:58
Let's find out why those Germans and Indians are the problem
6:03
right now with the silver demand.
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And we're not really mad at them, but they're they're the
6:07
reason. Listen to this, OK.
6:13
While most markets have seen weaker volumes and silver sale
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losses have been concentrated in India, in Germany.
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Thank you, Hermie. Thank you for the Super chat.
6:24
Super generous concentrated in India and Germany, the analysts
6:30
said. In India, record high local
6:33
prices for silver both deterred new investors and LED to profit
6:40
taking, resulting in a 46 decline. 46% decline in silver
6:47
sales in India so far this year because the price has gone so
6:51
high that people are cashing out some of their silver.
6:54
OK, what about Germany? I have a German last name, but I
6:58
don't think I'm really all that German.
7:00
But nonetheless, Germany investor sentiment was hit hard
7:04
by the VAT tax. That's the value added tax hike
7:08
to some silver coins at the start of 2023.
7:11
So the wonderful German government like I think it was
7:14
20%, don't quote me on that, but put a big tax on silver coin
7:20
sales. So if you go to your local coin
7:21
shop in Germany and maybe we have somebody here on the we got
7:25
200 people. Thank you, guys.
7:26
Wow. Saturday morning.
7:28
Welcome. I hope you're enjoying your time
7:30
here in the basement. I wish you were here.
7:33
You could give the old bear a hug.
7:34
Nonetheless, if you're in Germany right now and you want
7:38
to go buy yourself a silver coin, you got to pay, like, spot
7:42
price, the premium, and what's called the VAT, which I think,
7:47
whoa, I almost spilled my coffee.
7:50
There'd be no slurping. What would it be?
7:52
Iran's basement live stream without one slurp?
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Huh. Here.
7:59
I almost choked trying to be obnoxious.
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You're in Germany. You want to go buy yourself a
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silver coin? You got to pay spot price plus a
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premium. Thank you, Ron, for the Super
8:07
chat. Plus a tax on top of that.
8:10
So if that was here in the United States, what's spot
8:13
silver price right now? 235024, right.
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So you go buy a coin, let's say you want to go buy a
8:19
Philharmonic, cost you $28.00 because there's a premium.
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Then on top of that another $6 in value added tax.
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I would be very upset. This is a family friendly show.
8:30
Generally speaking, I would be very upset.
8:32
So that's the reason why investor demand, is that the
8:36
whole reason and why is there a silver lining to this, right.
8:41
You may be wondering is there a silver lining?
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There is. OK, there's there's always a
8:45
silver lining in Ron's basement. So stick with me here, stick
8:49
with me here because it's not just Germany and India, it's
8:54
people all over the world. Because listen to this Silver
8:57
backed exchange traded funds also known as ETFs also known as
9:02
Unicorn Fart Dust Silver. Because there's a lot of people
9:05
that think the SLVETF doesn't actually have all the silver
9:09
they purport to have even though they own like half of the silver
9:12
that's in the vault at the LBMA. I digress.
9:15
Nonetheless, Silverback exchange traded funds also continue
9:20
continue to weigh on investment demand.
9:25
Metals focus said that this segment of the market is
9:28
expected to see the second straight year.
9:31
Thank you Clifton. Wow 2 ounce Lincoln.
9:35
I'm going to read that Clifton put up his favorite round two
9:38
ounce Lincoln. OK, second straight year that we
9:44
have money flowing out of the silver.
9:46
ETFs, Germanians, Germanians, Germanians, Germans, whatever.
9:51
Indians in India aren't buying silver, right?
9:56
Probably not buying gold either. I don't know about the gold
9:58
stats, but they're buying a heck of a lot. 46% less the ETFs and
10:04
that's a big driver outflows. That means people are taking
10:07
money out of the SLVETF. That means in theory if they
10:11
actually own that silver Black Rock who runs that is selling
10:16
silver. Is there is there anything
10:19
positive about this? Yes, there is guys, there is.
10:23
OK, Rick Rule said this recently and it stuck with me.
10:27
So what? So much silver doesn't need to
10:31
be loved to go up. OK, silver is hated right now.
10:36
I I don't I I hate, I hate. That's a bad word.
10:40
Probably on on YouTube. But I hate personally the fact
10:44
that silver is hated. You do too.
10:45
You're a basement dweller. We love silver.
10:47
Right here. One of my favorite.
10:49
Uh. Oh, let's see if I can reach it.
10:52
Oh, no. Where'd I put it?
10:53
Oh, it's upstairs anyway. Here.
10:55
Hold on. Oh, man.
10:58
I think I just broke my shoulder.
11:00
Ow, anyway, that's one of my favorite.
11:03
That's a silver heart. We love silver, but the reality
11:06
is the Germans, the Indians, and you, you electronic silver
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trading Rascal. You are selling silver.
11:15
Rick Rule. It's hated.
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OK, the good news is this guys. It doesn't have to be loved.
11:21
It just needs to stop being hated.
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He said it that way. I'll say it this way, that that
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all we need is for people to stop selling, especially with
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the ETF, right? We don't need them to start
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buying. Although the good good news, the
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good double news, kicker news is that can happen.
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When that happens, Silver's doing OK right now in this very
11:46
difficult environment. If we get into an environment
11:49
where and we're going to talk about, I'm going to mention
11:52
again for you because this is more good news for Silver.
11:55
Big good news. But if we get into an
11:57
environment where we have this, thank you again, the Ding Dong
12:00
fund. All right, I owe Coin Shop Chris
12:02
$5 for the Ding Dongs. Sometimes it's hard to
12:05
understand what he's saying because he's got so many Ding
12:07
Dongs in his mouth. Anyway, once we get that money
12:13
coming in again, it's off to the races because Silver has held
12:16
up. Now let's talk about, let's talk
12:20
about something that you probably don't know anything
12:22
about. Do you know what the Paris
12:25
Accords are? Yes, the Paris Accords.
12:28
It was the result of the COP 21 that apparently happened in
12:33
Paris. And the COP 21 is this United
12:36
Nations oriented organization of all the big industrial countries
12:40
around the world. That said, we got to stop global
12:42
warming. It's a big problem.
12:44
The Earth can only go up 1.5° temperature, blah, blah, blah.
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I don't know, you can read about it all you want, but it's called
12:51
COP COP Committee. Committee of something doesn't
12:56
matter. It's a big meeting.
12:58
We're going to have COP. We got 100 thumbs up.
13:00
I will ring the bell in one second.
13:01
We're going to have COP 28 coming up, and that alone could
13:05
propel the price of silver to $131.50.
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I'm gonna explain in one minute after I ring the bell 10 times
13:15
for you, my viewers. OK, hundred thumbs up.
13:18
I ring the bell 10 * 1 time for each ten thumbs up.
13:31
That's for you. You're the most important part
13:33
around its basement. Look, this community is the most
13:37
important part. Don't worry.
13:39
I'm going to talk about COP 28 and 131 dollars, silver and
13:42
$0.50, But you guys are the most important part.
13:45
Thank you. I'm talking to you in Germany,
13:49
in Idaho, in Tampa, in Saint Louis.
13:54
And what other cities are you guys?
13:56
And you're everywhere. Wow.
13:59
Type into the type into the chat where you're joining us from.
14:02
We haven't done that forever. So you guys can see how we have
14:07
a group of people dispersed not only around the United States,
14:12
not only around North America, but around the world.
14:15
We are the basement dwellers. Welcome to the Saturday morning
14:18
basement dweller meeting. COP 28 alone could push the
14:23
silver prize all the way up, guys, to $131.50.
14:28
Why, you might ask? Because it's gonna be in Dubai
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and it's gonna be like the end of this month.
14:35
In a couple weeks, All right. All the big industrialized
14:38
countries from around the world are getting together and they
14:41
are now calling for a tripling of renewable energy projects.
14:48
Okay the installed base of renewal by the year 2030.
14:53
Need I remind you, if you're getting older like me and
14:55
sometimes forget what year it is, it's 2023.
14:58
But we are quickly approaching 2024.
15:02
What happened to Richard Cooper, our old friend from the United
15:04
Kingdom? Has anyone heard from Richard?
15:06
Nonetheless, when we get to 2024, we're only six years away
15:11
from 2030 and the world powers China's there, United States,
15:16
everybody's there are talking about tripling the amount of
15:20
renewable, AKA solar capacity by the year 2030.
15:25
Guys, the demand for silver from solar is unspeakable.
15:30
Unspeakable. OK.
15:34
I I think this year the, the, the the Silver Institute is
15:38
saying they're going to use about 160 million ounces of
15:41
silver for solar. That's like 16% of the world's
15:46
production. A lot of people say that's a low
15:49
estimate that the real number could come in close to 200
15:52
million ounces of silver, that's 20%.
15:56
OK. If these if the if, if this is
15:59
COP 28 objectives are put into place tripling not just like
16:06
what we're using right now producing this year.
16:09
They're talking about tripling the entire base of renewables
16:14
projects that are in place. You can't even imagine what
16:18
could happen to the price of silver $131.50.
16:22
Could be seriously all joking aside, within the realm of
16:26
possibilities. Because don't forget there's not
16:29
a lot of new silver coming online.
16:31
We're not going to go deep into that rabbit hole, but there's
16:34
just not. We're already in a deficit this
16:37
year. We just read that from our
16:39
friend Neils over at Kitco, right?
16:42
There just isn't enough silver being produced.
16:45
And there certainly is not a pipeline of new silver projects
16:51
coming on board. So all that silver, I know
16:54
you're watching me all over the world, right?
16:56
Huh. All over the world.
16:59
What's the $0.50 about? Because I don't like round
17:03
numbers. Is going to be sucked up by
17:07
silver. Oh, but there's all these above
17:09
ground sources of silver, right? There's all this silver above
17:13
ground. Really.
17:15
Because you know what? Most of the silver that was ever
17:18
produced in the history of the world has been consumed.
17:20
It's sitting in landfills. It got blew up in bombs.
17:24
It's it's very uneconomic to recover it.
17:29
A lot of it is buried in landfills.
17:32
This is a quick side note. I think 100 years from now when
17:35
you're watching this video that landfills are going to become
17:38
like the new treasure trove of resources that they're going to
17:42
be opening up landfills and going in there and and and it's
17:46
going to be economic at that point to pull the silver out.
17:48
But that's just my opinion. We got 300 people.
17:51
Thank you guys. Please say give this a thumbs
17:53
up. That's all I ask.
17:56
That's all. I beg, please give this a thumbs
17:58
up. Thank you for the Super chats as
18:01
well. They go a long way to help
18:03
support the family in the basement.
18:05
I'm going to talk about. We talked about the good news
18:08
with Silver. So now we're going to talk about
18:10
some scary news. This should scare the pants off
18:14
you. If you live in a western
18:15
country, if you live in the United States, if you live in
18:18
Canada, if you live anywhere Europe.
18:21
This should scare you. OK, I'm going to do it quickly,
18:24
but we're going to talk about why we could be heading for a
18:27
major economic calamity. And don't forget, when we hit
18:31
this calamity, things have escalated so much.
18:35
The system has become so sensitive, the feds going to
18:39
freak. We're going to have guys we are
18:41
going to have a money printing like you've never seen.
18:45
We're not going to have one Unicorn making Unicorn fart dust
18:49
from the Fed. I bet, you know, I bet the Fed
18:52
has a whole stable of unicorns because they're going to have to
18:55
print worthless, right? Electronic paper money like
19:00
we've never seen before. Let's just run through this
19:02
quickly. This week we got news that
19:04
inflation is down. We're actually now hearing the
19:07
word disinflation from some big companies.
19:09
We're going to touch on that in a minute.
19:11
The only way they can get inflation down right now is by
19:15
killing the economy. And they're succeeding, right?
19:19
If you try to live, think about I want you to think about this
19:22
as you try to live. Think about your trips to the
19:24
grocery store, the gas station. When you get your utility bills
19:29
in the mail, right. When your kids want a new pair
19:31
of shoes. Whatever it is, it's They're
19:33
killing the economy. They're killing the middle class
19:37
in the United States. We got news that jobless claims
19:40
are up this week and we're hearing from the top analyst,
19:44
not just the guy in his basement in Saint Louis, but the top
19:47
analyst that this is a new trend.
19:50
OK, And now now this is where it gets interesting.
19:54
Don't forget that was the last. Think of a three legged stool,
19:57
will you for a second, think of a three legged stool That was
20:01
the last solid leg of the three legged stool that the Fed was
20:05
using like oh, jobs are so great, blah blah blah.
20:08
Well, here's the here's the reality.
20:10
Guys, OK, Labor, have you heard this term, labor hoarding.
20:14
It went on after the C19 situation.
20:17
Companies were so desperate to get employees that they were
20:20
just holding on, holding on, holding on to them.
20:24
That is over. Don't forget Citibank, Operation
20:27
Bora Bora. I mean, why would they call it
20:30
that? But anyway, Citibank is laying
20:33
off 10% of their employees. They only have 240,000.
20:39
So 10% would be 24,000 People from Citibank got their walking
20:44
papers. OK, probably by Friday.
20:47
I don't know. I haven't seen an update, but
20:49
it's ugly. Let's talk about the company.
20:53
You know Chrysler, right? My dad used to have a Chrysler
20:56
300 back in the day. Chrysler Big American auto
21:00
Company. Wrong.
21:01
If you heard of Stalantis, they're a Dutch company.
21:04
They own Chrysler. Think, What is this?
21:07
What does this mean? Oh hold on, ow, what does this
21:10
mean? What does this mean?
21:12
Stalantis is offering buyouts, early retirement buyouts to a
21:18
portion of their white collar workforce headquartered in the
21:22
United States. They're just going to offer to a
21:25
portion? Wrong.
21:27
They're offering buyouts to more than 50% of their US based
21:32
employees. But the economy is great.
21:33
The economy is strong, right? Oils, oil was crashing.
21:37
This is interesting. Oil had like a big, big, big
21:40
down day. I think it was on Thursday.
21:42
Oil is in bellwether like copper and copper has been down.
21:46
But oil prices were going down, down, down, down, down, down,
21:49
down. OK, because of decreased demand.
21:53
They shot up on Friday because, and this has to do with the
21:56
geopolitical turmoil in the world.
21:59
The Saudis and the Russians said they're going to cut oil
22:02
production in protest of what's going on in the Middle East.
22:06
OK, Walmart and Target, do we have more of a bellwether of the
22:12
US economy? Walmart and Target both this
22:15
week expressed concern about the weakness of the US consumer and
22:22
the consumer we know. We talked about the employment
22:25
being the three leg stool. The other one of the other legs
22:27
on that stool is the US consumer.
22:29
The backbone of the US economy, right.
22:32
The consumer's dying. Again, I won't go through the
22:35
list. Think about yourself and your
22:37
life, OK? Home builder sentiment dropping.
22:41
Now who's going to buy a house? 8% mortgage rates?
22:45
We won't go there. The used car market is crashing
22:51
down 20%. The Manaheim Used Vehicle Value
22:55
Index. OK, says here, blah blah blah.
22:59
After reaching its peak recently, in December of 2021,
23:03
the index has officially entered a bear market with a 20%
23:08
decline. Okay.
23:10
Last month the index experienced its most significant drawdown in
23:14
history, historic drawdown in used car prices.
23:19
Now granted, they were in kind of a little bit of a bubble,
23:22
remember during the C19 situation Use.
23:25
But none the less, what is that telling you?
23:27
What is that telling me when used car prices are down 20%?
23:32
OK, here's what's going to happen.
23:35
Buckle up, buttercup. Here's what's going to happen.
23:39
And it's not just me. Who's the guy?
23:41
UBS. The Giants?
23:43
We are in for the most glorious, beautiful period for precious
23:49
metals like most of us. Don't remember.
23:51
Some of you do. We're all about how old are you,
23:54
How much? You know what?
23:55
Hold on. We're going to talk about this
23:56
beautiful, glorious period. But first, if you want to share
24:00
your age roughly and if you just want to say what, what range
24:04
you're in, I'm in the 50, I'm 53.
24:07
I don't mind saying specifically type it in there.
24:11
I want to see. Hey, sassy Silver.
24:13
Yeah. Hey guys, when we get to 200,
24:15
thumbs up. But don't forget we got the
24:17
bell. The loudest bell on the planet.
24:21
Those of you listening with earbuds, be prepared to pull
24:24
them out. I don't want to cause any
24:25
hearing damage. 606050 Forties 83.
24:30
Hey, Neil Neil Campbell, Richard 70 + 5059.
24:36
Yeah, we're all about the same age.
24:39
Johnny Adams, 79. Hey, all right, my friend, 29,
24:44
We got a youngster here, a little pup Coin Shop Chris is
24:48
143 years old. Maybe that's why he's so wise.
24:52
Ding Dongs really are the fountain of youth.
24:57
For those of you that don't know, Coin Shop Chris consumes
24:59
between 5:00 and 6:00 Ding Dongs per day.
25:03
OK? Sometimes when I call him, he's
25:04
like, hey man, hold on, let me finish eating my Ding Dong.
25:07
Then I'll talk anyway. Wow.
25:09
So it maybe, maybe you guys do remember the glory days.
25:13
We're about ready to enter the most glorious period for
25:16
precious metals in the world. What did it mean to us when UBS
25:22
bank, right? One of the largest, most
25:25
respected banks in the world, based in Switzerland of all
25:31
places. You ever heard of Swiss bankers,
25:33
Swiss bank accounts? Pay attention to UBS, UBS said.
25:38
We are heading into a big recession in 2024.
25:43
But it gets even better. I'm going to tell you that after
25:46
I say thank you to 1st Mining Gold for also sponsoring this
25:52
video. Two of the world's largest
25:56
development projects, two of Canada's largest development
25:59
projects, definitely right now owned by First Mining Gold.
26:05
They're moving them through the development process.
26:07
They've got over 13 million ounces of gold in the ground.
26:11
Go check out First Mining Gold firstmininggold.com.
26:14
That's easy to remember. And if you want to talk to a
26:17
real live human, not artificial intelligence, a real live human,
26:21
reach out to Paul Morris. OK.
26:23
He works for them. He's their Director of Investor
26:25
Relations and I have his e-mail address in this videos.
26:30
Excuse me. Description that that Greg
26:33
Campbell. Wow.
26:37
Greg, thank you for the Super chat.
26:39
Thank you, my friend. So we're moving into the most
26:43
glorious phase now based on our ages 6357.
26:47
Wow. A lot of you guys may remember
26:51
it. All right.
26:52
I was a little pup. I was born in 1970 because we
26:56
are moving into the 1970s Part 2.
27:00
OK, I imagine I'm going to be doing these live streams wearing
27:04
those like colorful disco suits. You know, right.
27:07
Disco's going to come back. But so are the prices of silver
27:12
and gold. We have been through the world's
27:15
worst cruddy market for precious metals over the last number of
27:20
years. And right now, what we have is a
27:22
confluence of factors that are going to be supportive.
27:26
Thank you, Ron. Wow, you guys are blowing me
27:28
away with your generosity today. Thank you for the Super chat.
27:32
We've got a we got a party ahead of us, a confluence of factors
27:35
that will be supportive for the silver and gold price, But it
27:40
even gets better. It even gets better.
27:45
OK And Rick Rule said this. I have to credit him.
27:48
All right. I think Rick Rule's like the
27:50
king of investing in precious metals and resources, right?
27:55
He's a brilliant mind. He really is.
27:57
And he said something that I'd never thought of because while
27:59
we already have this confluence of factors, COP 28, right?
28:04
People in the West, all they got to do is stop selling silver,
28:08
selling their gold. We got something even better on
28:11
top of that because, you know, you do, you know this, right?
28:16
You're like, you're you're a basement dweller.
28:18
We know the price of silver and gold are manipulated.
28:23
Yeah, right. There was, there was, you know,
28:26
some JP Morgan traders that may be going to jail, but they were
28:30
convicted, found guilty of price manipulation.
28:33
That's just the. That's just the top of the the
28:36
tip, not the top the tip of the iceberg.
28:39
All right. You know how manipulated the
28:42
price of silver and gold had been over the last decades?
28:45
We've lived it, OK? And it was easy, right?
28:49
It was easy for him to manipulate the price down
28:51
because there were so many factors, a confluence of factors
28:55
that were typically working against the silver and gold
28:59
price. Rick Rule brought this up.
29:02
Guess what? And this is my take on what he
29:04
said. He said the price can also be
29:06
manipulated to the upside because these traders, these
29:09
these wonderful people that work for places like JP Morgan and
29:15
Goldman Sachs. I'm not saying anybody's doing
29:18
anything wrong, right? But they don't care if they make
29:22
money going up or going down. They don't care if the price
29:26
goes up or down. All they care about is making
29:29
money. So this is the cherry.
29:32
I hope you can understand this as the, as the macro environment
29:37
becomes more conducive, more supportive for the price of the
29:41
metals to go up, they're just as happy to manipulate the price
29:46
upward. And that could really work in
29:49
our favor. And you know what?
29:50
We deserve it. We don't like price
29:51
manipulation, but if they're going to manipulate it and it's
29:53
going to go up, well, you know, maybe we won't complain so much.
29:59
I really think that's a critical thing for us to look forward to
30:04
in these coming years. It's going to be interesting.
30:06
You know that we had a big meeting this week.
30:08
Let's talk about the other big factor that can that will
30:11
support gold, silver, platinum as well, right.
30:15
We haven't seen Neil here for a while, but platinum as well,
30:19
right. Geopolitical turmoil.
30:21
Oh, you know, President Biden. Yeah.
30:25
Our president had a big meeting this week with President Xi
30:29
bingding from China. OK.
30:32
In San Francisco. All right.
30:34
Oh, oh, oh. We're going to talk about why
30:36
that was a big deal. But first, you did it.
30:40
Thank you. You got us to 200 thumbs up.
30:43
We're going to do a major ring. It's a loud bell.
30:58
I hope I rang it enough for you, Jake.
31:00
From Jake's Custom Parts. Sassy silver.
31:03
Hey, guys. Hey, guys.
31:05
Please. Before I forget, this is the
31:07
most important thing you can do. Super chats.
31:10
Super appreciated. Never expected.
31:12
OK, But I really appreciate it. But most important, we got a
31:16
group of people that are doing their best to keep this
31:20
community moving forward, moving forward in a positive way.
31:24
They're the moderators. They're the people with the
31:27
wrenches next to their name. I want to tell them all, thank
31:30
you very much. What they're doing is not an
31:32
easy job, OK? It's not.
31:35
And I completely recognize that. And I I it's it's hard and it's
31:44
hard to know what the what the what what's it.
31:46
Anyway, tell them thank you. OK, OK.
31:49
Because it's a big, big deal that they're here and they're
31:53
doing this because they love the community and they want the
31:56
community to grow forward. So Type 8 for all the moderators
32:01
today because eight is great and the moderators are all great.
32:05
And again, they're always working their tails off trying
32:09
to keep this a nice environment where we can all move forward.
32:13
And and it's not a, it's not a perfect science.
32:16
Right. So their job can be very
32:20
difficult at times. And I want them to know that I
32:22
really appreciate what they're doing as well.
32:26
All right, let's move on. Thank you.
32:28
Oh, yeah. We had a big meeting with the
32:31
president of China and the president of the United States.
32:33
Member Right Bricks. Bifurcation.
32:37
All that crazy stuff that goes on out there.
32:41
So Biden and and I saw somebody said yeah, they cleaned up.
32:45
Like there was a miraculous how quickly they could clean up San
32:47
Francisco. From what I understand it didn't
32:51
go great. OK.
32:52
I'm gonna. I'm not saying that New York
32:54
Times had a headline that said the G Biden summit leaded to not
33:00
much more than than them. The biggest take away was that
33:04
they'll continue to talk in the future.
33:06
OK. I missed the Super chat.
33:09
Hold on. And then on top, thank you.
33:12
Silence do good. NBA.
33:13
Get an ounce of silver. Thank you, my friend.
33:17
I'll get that from Pinbex. Thank you so much.
33:20
Silence do good, dog good. Silence do good.
33:24
NBA. Thank you.
33:28
The world, basically. I don't know how you felt about
33:31
this, but my take away from this whole G Biden thing was that it
33:35
did not go well. OK, Maybe they tried to paint it
33:38
as it did go well. And then there was this major
33:44
situation afterwards where during the press conference,
33:48
President Biden made a remark about the president of China
33:53
that let's just say, didn't go over too well with the Chinese.
33:58
So unfortunately, the world continues to bifurcate,
34:02
continues to split. Dave Earthly is a guy who writes
34:07
for Kit Go. He has a website called The
34:08
Junior Mining Junkie. I get an e-mail every week with
34:12
like, his weekly recap. There's some interesting things
34:15
that he put in there about gold. I didn't know this about gold.
34:18
That gold has reached $2000 in eight of the last nine months.
34:23
Guys, I'm telling you, we are knocking.
34:26
Let's talk about because when we talk about gold, we're talking
34:29
about silver as well. We are knocking on the door of
34:33
an all time high for gold. I think it's very plausible,
34:38
excuse me, that we could get it by the end of the year.
34:43
OK. And you know the $2600 story
34:46
that I've shared with you guys ad nauseam, but I had no idea.
34:49
Did you know type in the comments, yes or no.
34:53
But it did. You know that eight of the eight
34:55
of the last nine months, according, if I read it
34:57
correctly, every time we knock up against something, it gets
35:01
weaker and weaker and weaker. I'm trying to think of a good
35:03
analogy. It's like if you're hitting a
35:06
wall, a cinder block wall, with a sledgehammer, right?
35:10
The more you hit it, the weaker it gets and eventually it falls.
35:14
And that's what this all time high, this $2000 ceiling that
35:19
we've had lately on the silver price is the other thing I want
35:24
to, I'm sorry, gold price is the other thing I want to mention,
35:27
I'm so excited about this is that gold and silver, but
35:32
particularly gold because that's what everybody watches, right.
35:35
But we watch silver because we're basement dwellers as well
35:38
and we have a little bit of an interest in the silver market.
35:41
But nonetheless gold has been strong.
35:44
I mean it made that move from 1800 up to the 2000 range
35:48
roughly where we are now. And it it, it hasn't really
35:51
pulled back. It didn't like everybody I
35:55
talked to. The top people all said the same
35:57
thing. Yeah, Gold shot up because of
35:59
the situation that went on in the Middle East.
36:02
But it's going to pull right back because that's what it
36:04
always does, right. It hasn't happened.
36:07
It's up and it's been staying up and consolidating at this level.
36:12
Now, look, a week from today, I could be, you know, I could be
36:16
saying, oh, I hope we can keep 1900, I hope we can hold 1850.
36:20
But so far a lot of the people who wanted to sell have sold, so
36:25
we're building a really strong base.
36:27
I'm feeling as optimistic as ever that we could have a new
36:30
all time high in gold by the end of the year by Christmas, and
36:34
we'll do something special. If that happens, we are doing a
36:37
big Christmas Eve Eve giveaway. We'll have details about that
36:42
after the big Black Friday giveaway, which will be gosh,
36:46
and what, 6 short days. If you want to enter the big
36:49
Black Friday giveaway, there's a link in the description of this
36:54
and every video I've put out over the last month that'll tell
36:57
you how to do that. But once we get that new all
37:00
time high in gold, we're going places.
37:03
He also mentioned JP Morgan on the said OK, this is from JP
37:08
Morgan. Listen up JP Morgan.
37:12
The most powerful bank in the world, that wonderful man that
37:15
we all love so well. Jamie Dimon, his company said
37:22
this. They said that inflation and
37:25
unemployment data, how's this sound shows that the Fed is done
37:32
raising rates. Now we've been talking about
37:34
this for six, 8-9 weeks guys, but Jamie Dimon's company, JP
37:39
Morgan had that to say. Right?
37:42
Employment data, unemployment going up, Inflation data, the
37:48
inflation, if we even believe it, but the official data going
37:52
down shows that the Fed is succeeding and killing the US
37:57
economy. OK, We already talked about UBS
38:01
talking about cutting rates by 3%.
38:04
We need the dollar to drop. OK.
38:07
And and and and Dave, earthly talks about this.
38:11
I'll talk about this and it's so important.
38:15
The dollar is going to drop. Look no further than the debt
38:20
level of the United States. And what's the big secret that
38:23
nobody's talking about, right? It's almost like it's a secret.
38:26
And it's interesting why they put this out on a Friday
38:30
afternoon, right. And look at the deficits.
38:33
OK. But last Friday, Moody's cut
38:37
their outlook on U.S. debt. Moody's.
38:40
Moody's. I'm kind of Moody.
38:42
Are you Moody? Anybody that knows me will tell
38:45
you I'm kind of a Moody guy none the less.
38:47
Moody's cut the US debt last Friday.
38:50
They do it at like 6:00 on Friday because they don't want
38:54
to disrupt the market. Well, why the heck that would be
38:56
my question. If it's news Moody's.
38:59
I mean, what were you at happy hour at the paying, you know,
39:03
$25 for Scotch on the rocks and thought, oh, it's 6:00 on
39:07
Friday. You know what?
39:09
I think it's official. We're going to cut the outlook
39:13
on the US debt. No, you knew.
39:15
You probably knew Wednesday morning or Thursday afternoon.
39:18
Why do you have to wait until Friday after the market closes
39:21
when nobody's paying attention? Is it because it's bad news
39:26
guys? That's why Moody's cut their
39:29
outlook on U.S. debt. That wasn't yesterday, that was
39:32
a week ago. And then now people are saying,
39:34
well, it didn't really affect the markets.
39:36
Well, does that mean everybody just realizes the US debt is a
39:39
bunch of crud? I think it does.
39:42
OK, I think it does. One more little data point.
39:46
Interest expense is double that. the US is paying twice as much
39:50
right now on interest than they were just one year ago.
39:56
So let's pull this all together, OK?
39:59
Let's pull this all together. The outlook for silver
40:02
outstanding, right? Tripling.
40:05
Potentially of renewable energy installed capacity by the year
40:10
2030, which is only six years from now.
40:14
There's no doubt that the US economy is heading into a look
40:17
at Citicorp. Look at the railroads, look at
40:19
the trucking companies, look at the employment data.
40:22
Look at Walmart. Look at all the US economy is
40:25
going down. That's going to that's going to
40:27
elicit a big reaction from our old friend Jerome Powell.
40:32
I almost called him Gomer Pyle. I think I'm going to start
40:34
calling him Gomer Pyle. You know what?
40:37
That's his new name. That's going to elicit a new big
40:41
reaction from our good friend Gomer Pyle at the United States
40:45
Federal Reserve who by the way, said the F word during a an IMF
40:50
roundtable the other day. And a lot of people said he's
40:53
he's he's tense. He's losing it.
40:55
OK? And when Gomer Pyle gives us a
40:59
rate cut, OK, surprise, surprise, surprise, that's going
41:04
to send the value of your silver and gold through the roof.
41:07
So keep an eye on Gomer Pyle at the United States Federal
41:10
Reserve, OK? We know that Janet Yellen is in
41:15
deep trouble at the US Treasury. The statistics are astounding.
41:21
You didn't 'cause it. I didn't 'cause it.
41:22
OK, we know that's going on. Big companies are laying off big
41:26
numbers of people. It's going to be crazy out
41:29
there. Oh, I almost forgot.
41:31
This is, this is interesting. Einhorn from It's a Green Light
41:36
capital. Guys, look, you've been
41:41
brainwashed. I've been brainwashed.
41:43
We believe it. OK, I've been brainwashed.
41:46
I believe the dollar's valuable. I don't really believe it, but
41:49
you stick a stack of $100 bills in front of me, and I'm like,
41:52
whoa, hey, that looks good, huh? Yeah.
41:56
You've also been brainwashed into thinking that Warren
42:00
Buffett's the smartest investor of all time.
42:02
I won't argue the guy's done well.
42:04
He's made some good investments, He's made a lot of money.
42:07
But there's a lot more smarter people out there in the
42:10
investment world. One is the guy that runs Green
42:13
Light Capital. His name's David Einhorn, right?
42:17
You probably never heard of him. Unless you're like really into
42:19
financing. Money.
42:21
Manages billions of dollars. Green Light Capital, super
42:24
respected. They've had an unbelievably good
42:28
year. OK, but he's buying gold, OK?
42:32
Central banks are buying gold. Central banks are buying gold.
42:39
The world central banks are buying not just gold, but record
42:43
amounts of gold. Let that sink in, OK, that's
42:49
like the smartest guy in the room.
42:51
Those are the people that know more about what's going on than
42:54
anybody. The world central banks record
42:57
amounts of precious metals Gold. Now.
43:01
Now. David Einhorn Probably a record
43:06
amount of gold according to his recent filings with the
43:09
Securities and Exchange Commission.
43:11
Green light plunged almost $35 million into the the gold ETF
43:19
GLD that increased the fund stake by 89%.
43:23
This is where it gets super interesting though.
43:26
That's interesting that he's buying gold because he's had a
43:30
great year. I think his fund is up like 30%
43:32
year to date. But this is, this is the little
43:35
nugget that's hidden in here. The hedge fund also reported
43:39
that it holds a significant amount of physical gold.
43:46
I missed the Super chat. I'll be back, Chris.
43:48
I'll get it. Thank you.
43:49
Quench up. Chris just threw a virtual Ding
43:51
Dong at me. OK, Einhorn and green what is a
43:56
green light capital, they they have a significant, a
44:00
significant quote, UN quote amount of physical gold that is
44:04
not required to be reported on the 13 F filing these big hedge
44:09
funds every quarter just so you know have to put out 13 FS that
44:14
show what they bought and sold during the quarter.
44:16
They bought the GLDETF like we just heard right on what was it
44:21
$35 million worth. But they don't have to report
44:26
their purchases of physical gold and he bought physical gold as
44:30
well. The big money is moving to the
44:33
metals. Why do what what's the what's
44:36
the evidence that we know that going on.
44:38
I want you to put your thinking cap going on because like we
44:41
talked about earlier, the retail investors are not buying, are
44:47
not buying precious metals. There's outflows and the silver
44:52
ETF, there's out. People are not buying the metals
44:55
but the big money is buying it. So while you're while the
44:59
bubble, the bubble dwellers, right.
45:01
The ones that were kind of on the bubble.
45:03
The the people that aren't aren't maybe as as enthusiastic
45:07
about the metals as you and I. They've sold.
45:09
They've left. Bye bye.
45:10
OK, that's fine. Maybe they're right.
45:12
I'm not putting anybody down or anything like that.
45:15
But the core people like us that are buying, well, guess who
45:18
we're buying with? We're buying with central banks
45:22
and we're buying with hedge funds.
45:24
Let that sink in. Thanks for being here guys.
45:26
I appreciate each. And everyone of you please
45:29
subscribe to the channel. We're really trying to get to
45:31
30,000 by the end of the year. We're also looking forward to a
45:35
new record high in gold by the end of the year.
45:38
Go check out my website. Not my website, your website,
45:43
our website. Thanks to dot com.
45:45
Don Ron's basement.com is now up and running.
45:49
You can register there. It's super easy to do, not very
45:53
minimal. I think that we need your e-mail
45:55
address. That's it, OK And I'm not going
45:57
to spam you with the e-mail or anything like that.
46:01
And there's, but there's a community there.
46:02
There's a chat room that's there 24 hours a day, seven days a
46:06
week. We're incubating it right now.
46:08
You can be one of the one of the Gold Card holding members, one
46:12
of the 1st 100 people maybe. I think it's over 100 now, but
46:16
you can be a gold or silver card holder if you get in there and
46:19
register right away. OK.
46:21
Thanks for being here. Thanks for everything.
46:23
Thanks for the Super chats. Super appreciated and I'll see
46:27
you soon.