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💥CHINA ADVISES Citizens THIS About SILVER? (Gold Price Too!) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  Do you believe another silver squeeze could happen?
• 0:05
  Yes, skyrocketing silver prices. Yesterday we talked about $270
• 0:10
  silver. But I have a question for you,
• 0:13
  basement dweller. Why did you show up here?
• 0:15
  Huh? Yeah, because you want to hear
• 0:17
  about silver and gold, and it's a big, big deal that you did.
• 0:20
  Please give this a thumbs up. Subscribe to the channel.
• 0:23
  We are going to have a special guest.
• 0:26
  Who's threatening to join us here in 10 or 15 minutes?
• 0:29
  The one and only the notorious CSC.
• 0:33
  Yeah, coin shop. Chris.
• 0:35
  He's going to share some fascinating information with us.
• 0:37
  But we're going to talk about right now is this prospect of
• 0:42
  another silver squeeze. And I have a question for you.
• 0:44
  I have a question for you. Think about this.
• 0:46
  Ponder this. What if every Chinese citizen,
• 0:51
  each and every one of them bought just one little stinking
• 0:55
  ounce of silver? We know they love gold, right?
• 0:57
  We know, right? We're let's dig in.
• 0:59
  And you're going to be shocked by what we discover.
• 1:02
  Guys, thank you for being here. Thank you for everything.
• 1:07
  This is from the numismatic news, Silver squeeze news.
• 1:10
  Numismatic. Numismatic.
• 1:12
  I used to not be able to say that word, but I apparently have
• 1:15
  fixed that. All right, Numismatic News says,
• 1:19
  is a major physical silver supply squeeze developing.
• 1:24
  There's a strong prospect that silver's price could rise much
• 1:28
  further in the coming months. That's in purple, but in green,
• 1:31
  I didn't know this. I really didn't know this.
• 1:35
  I'm embarrassed. It says that.
• 1:36
  The Comex. As of the market closed on
• 1:38
  Wednesday, the spot price of silver was up almost 25% from
• 1:44
  where it's settled at the end of last year.
• 1:47
  Guys, silver is up 25% in the first six months of 2024 and the
• 1:54
  prices could go even higher than that.
• 1:55
  Normally when there's been such a relatively large move and a
• 2:00
  commodity price, you will tend to see a retrenchment, right?
• 2:03
  We talked about that things that shoot up often pull back,
• 2:08
  consolidate and then go higher, often giving up half of the
• 2:11
  recent gains. That's not been the price of the
• 2:14
  the case with silver. Then the price can stagnate at
• 2:17
  those levels. That has not happened.
• 2:20
  It feels like, does it feel like to you right, like the silver
• 2:23
  price went from 2223 to 32 and that now we've consolidated
• 2:28
  around 29 and hey, we know you know what, maybe we don't know,
• 2:33
  maybe you don't know. Let's go look quickly and see
• 2:38
  what the update on the silver prices at our friends pin back
• 2:40
  silver $31.20. So again we shot up, pulled back
• 2:46
  usually we should have pulled back maybe 50% maybe to 2720 six
• 2:50
  $28.00. We talked about that.
• 2:52
  That did not happen. We pulled back to $29.00 and now
• 2:56
  we're moving up again and we talked exhaustively here on the
• 2:59
  channel, guys, that that if we can move here in the coming
• 3:03
  weeks, the biggest battle in the history of the silver market,
• 3:07
  right, May be happening maybe in the next few weeks if we get up
• 3:11
  to the $3334 range. It's what I like to call a
• 3:16
  premature, premature breakout because we'll go from 34 to 44
• 3:24
  lickety split. Thank you to Pendeks for
• 3:26
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• 3:31
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• 3:33
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• 3:39
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• 3:43
  selection. So do yourself a favor check out
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  Pendex and if you ever decide that you yes, you want to get
• 3:49
  into our convert part of an IRA into precious metals.
• 3:53
  They can help you with that as well.
• 3:55
  In yellow this this is another way to look at what's going on
• 3:59
  in the silver market and the potential for a massive squeeze.
• 4:02
  According to the Silver Institute's research, there was
• 4:06
  a combined shortfall from 2021 to 2023 of more than 663 million
• 4:14
  oz. I don't know.
• 4:15
  Did you know that? Right?
• 4:17
  I guess I'd heard that a number of times, but it really sucked
• 4:20
  in 663,000,000 ounces of silver supply, right?
• 4:25
  That was the deficit to meet the demand before factoring in
• 4:29
  inventory movements into and out of the silver ETFs in purple.
• 4:34
  This is what I hadn't thought about this, right?
• 4:38
  So this deficit, this amount of silver, 663 million oz that was
• 4:43
  pulled out of reserves amounts to almost 80% of annual global
• 4:48
  silver mining output. Another shortfall, right?
• 4:51
  Because to make matters worse, another shortfall of 215,000,000
• 4:55
  ounces is forecasted for 2024 just on this basis alone.
• 5:00
  This is not the red. OK, guys.
• 5:03
  This is where it gets interesting when we're talking
• 5:05
  about a silver squeeze. Very, very interesting because
• 5:08
  in recent months, Reliance Industries of India has had much
• 5:12
  difficulty acquiring physical silver to use in the
• 5:15
  manufacturing of solar panels and other photovoltaic products
• 5:19
  that the company ended up purchasing Comex silver futures
• 5:24
  contracts. Upon maturity of those
• 5:26
  contracts, it asked for physical delivery of at least 25,000,000
• 5:32
  ounces of silver. Why is that a big deal?
• 5:36
  I'll tell you why because here, let me look you right in the eye
• 5:39
  and tell you why. I'll tell you why it's a big
• 5:42
  deal because the COMEX is not is not used to people taking
• 5:48
  delivery of their physical metal.
• 5:50
  OK, that's why. Let's go back to numismatic
• 5:54
  news. Looks like coin shop Chris is
• 5:55
  trying to connect with us right now.
• 5:57
  We'll see. We'll get them on here.
• 5:58
  OK. The private sector, this is
• 6:01
  where it gets crazy interesting. The private sector's demand for
• 6:04
  physical gold in China has been so strong this year, the demand
• 6:07
  for investment purposes in that nation rose 27%.
• 6:11
  OK, that's for gold. This year, gold imports into
• 6:14
  China had been not been enough to cover demand, so buyers are
• 6:18
  purchasing gold contracts on the Shanghai Futures Exchange.
• 6:22
  Combined, the volume of the gold trading on the Shanghai Gold
• 6:25
  Exchange and the Shanghai Futures Exchange now now exceeds
• 6:30
  that the volume on the COMEX. So the Shanghai markets are
• 6:36
  exceeding the volume on the COMEX.
• 6:39
  What is this telling us? Right?
• 6:41
  The East is taking over the pricing discovery in the
• 6:46
  precious metals. This, this is the big point.
• 6:50
  Purple To try to mitigate the shortage of physical gold in
• 6:53
  that country, the government ordered the media there several
• 6:58
  weeks ago to urge the public to purchase physical silver instead
• 7:05
  of gold. Think about that, OK?
• 7:09
  Over the past two weeks, the price of physical silver in
• 7:12
  China has risen as high as $4.00 above the global spot price.
• 7:16
  Between strong physical demand in India and China, there
• 7:20
  appears to be a good prospect for much higher silver prices
• 7:24
  soon. Do you know guys, do you know
• 7:27
  here, let's go out quickly before we get on with coin shop.
• 7:31
  Chris, let's go out here to this interesting article.
• 7:34
  This is from April 12th, OK, from the Silver Academy, China
• 7:39
  switches strategy and then it's important that this is from
• 7:42
  three months ago, right? OK.
• 7:44
  And I'll explain to you why China switches strategy from
• 7:46
  stacking gold to the take all the silver, sticking it to the
• 7:50
  US short sellers and market riggers.
• 7:53
  Here's the proof, right. This was a tweet from BJW.
• 7:57
  My wife is in China. She speaks and reads fluent
• 8:01
  Mandarin. She told me last night that
• 8:03
  Chinese media is writing articles and recommending silver
• 8:07
  as a better investment as gold gets more expensive.
• 8:12
  OK, All right. Now here he points out here as
• 8:16
  well, there's 1.4 billion, Yeah, 1.4 billion Chinese citizens.
• 8:23
  I want you to think about something, OK?
• 8:25
  I want you to think about something.
• 8:28
  If each one of those Chinese citizens bought one ounce of
• 8:32
  silver, that would be 1.4 billion.
• 8:35
  But let's say not even each one of the Chinese citizens bought
• 8:39
  one ounce of silver. Let's say only what, 70% of them
• 8:44
  bought one ounce of silver. 7 out of 10 Chinese citizens
• 8:48
  bought one ounce of silver. That would be a billion oz
• 8:52
  roughly of silver. That would wipe out the entire
• 8:56
  world silver supply. All the silver that's mined, all
• 9:00
  the silver that's recycled. That's just if each Chinese
• 9:04
  citizen said, hey, you know what, I think I want to buy one
• 9:07
  ounce of silver. And we know that China is
• 9:10
  becoming like very wealthy people have money to spend.
• 9:14
  And we know, think about it, that the Chinese government is
• 9:18
  telling the Chinese people to buy silver.
• 9:21
  OK, So this the idea of a silver squeeze.
• 9:26
  Well, absolutely, right. And we're going to look at
• 9:28
  something from India. But first we're going to try to
• 9:30
  get coin chop Chris on here, guys.
• 9:32
  You ready for some technical technical difficulties?
• 9:36
  I am loud. I have my volume up too high.
• 9:38
  Let's see if we can get. OK.
• 9:42
  Chris, if you can hear me, it says you've not connected your
• 9:45
  mic or your camera, so I cannot add you to the stream.
• 9:51
  So you may want to go out and come back in.
• 9:52
  And then you got to say allow coin shop.
• 9:54
  Chris, if you want that to work, my friend.
• 9:57
  OK. All right, Where am I?
• 9:59
  Here. Let's go.
• 10:00
  Yep. Here we go.
• 10:01
  We got him. Nope.
• 10:03
  Now we don't. OK, now we do.
• 10:06
  Chris. You keep coming in and out.
• 10:09
  Whatever you did, do that again. OK, Coin shop Chris.
• 10:15
  Here he is, Chris. Yes, I can hear you.
• 10:20
  You can hear me. We can hear you.
• 10:21
  Welcome to the basement. Hey.
• 10:23
  Guys, thank you, Ron. This is Coin Shop, Chris, right?
• 10:26
  A regular on the channel. Chris, how are you doing today,
• 10:29
  my friend? I'm doing great, Ron.
• 10:33
  How about yourself? I'm doing great.
• 10:34
  What do you think about this idea, right?
• 10:37
  There's 1.4 billion people in China.
• 10:40
  If just 70% of them right, seven out of 10 Chinese people bought
• 10:43
  just one ounce of silver, Chris, it would wipe out the entire
• 10:47
  world mining supply, the entire supply for the whole year.
• 10:53
  And that would that would be good, but we need the people in
• 10:55
  the States, in Canada stop buying too.
• 11:00
  Yeah, that's right. I know.
• 11:01
  I'm that that's like the icing on top, right?
• 11:04
  Like the people in the West have not even remotely started to be
• 11:09
  interested in buying silver. And when they do, think about
• 11:13
  that, right? I mean, think about the numbers,
• 11:14
  how crazy, absolutely crazy it could be.
• 11:17
  Chris, do you mind if we go talk about India real quickly?
• 11:20
  I've got some crazy interesting news about gold in India as
• 11:24
  well. Can we go can we go take a look
• 11:26
  at that real quickly? Sure.
• 11:28
  OK. And then later on guys here in
• 11:30
  the live stream, Chris is going to did some comparison shopping
• 11:35
  on Silver Quarters and found out some interesting information.
• 11:40
  Here we go. This is from sure, we got this
• 11:42
  up on the screen which we do. This is from the Times of India.
• 11:48
  So this is fresh from India. See if I can get the there.
• 11:51
  It is right there the Times of India and listen to what they
• 11:55
  said about gold, that this is a big study that was done.
• 11:58
  It says in India, irrespective of income, gold accounts for an
• 12:02
  average of 18% of assets for households.
• 12:08
  I mean, how do you think that compares to the United States,
• 12:10
  Chris? It's.
• 12:13
  It is ridiculous. I mean, they're stocking up.
• 12:16
  Their governments are telling they're on to stock silver,
• 12:19
  stack silver, stack gold. I mean, depending, you know,
• 12:23
  India's more on this silver part of it.
• 12:26
  But you know, why aren't we, you know, going to get our silver
• 12:30
  now at dirt. I mean, these are dirt cheap
• 12:33
  prices still. I mean, you know what, what, why
• 12:37
  are we waiting for 50, sixty, $70.00 silver?
• 12:40
  I mean, we all thought go back to the time frame when home
• 12:43
  alone when we came out wrong for one minute.
• 12:46
  And you know, silver, I mean, gold was about $300.00 an ounce.
• 12:50
  Did we ever think gold would be nearly $2400 today?
• 12:54
  You know, if, if we all knew gold was going to go that high
• 12:59
  back then, I would, I would been buying it up back then if I had
• 13:02
  the cash or I didn't have the cash back then.
• 13:04
  But if the people who had the cash knew it was going to be
• 13:06
  this high, Silver is so undervalued.
• 13:10
  You know, the, the crooks of the COMEX and the LBMA are trying to
• 13:14
  suppress us. It's not going to last much
• 13:17
  longer. It's not going to happen.
• 13:19
  Well, you know, when I look back, I don't know how long
• 13:21
  you've been stacking, but I've been stacking silver maybe about
• 13:24
  20 years now. And I remember I bought some
• 13:28
  when silver was like 15, sixteen, $17.00 an ounce.
• 13:34
  And I remember looking back at that point to like, I mean,
• 13:38
  there was a point where it was like 5 bucks an ounce like in
• 13:41
  what 1999 or something like that.
• 13:44
  And I think, oh, maybe I should wait till it goes, if it goes
• 13:46
  back to 5 bucks an ounce. But you know, like you always
• 13:49
  can look back and it's like, I think it's important.
• 13:51
  And I think it goes back to something you always like to
• 13:54
  harp on dollar cost averaging, right?
• 13:56
  You want to buy a little bit, a little bit, a little bit.
• 13:59
  And that way if there are wild price fluctuations, that kind of
• 14:03
  gets absorbed by the dollar cost averaging.
• 14:06
  But to think, to think now, right, that, oh, I'm going to
• 14:11
  wait and get sober at 15 bucks an ounce, I don't think it's
• 14:14
  going to happen. No, I mean I have people come in
• 14:17
  the shop now where I'm running for $27.00 an ounce and you know
• 14:20
  they buy a few oz and I say you know I understand their point,
• 14:24
  but it you might not even see that dip down to $27.00 an
• 14:28
  ounce. And my point is, is a few bucks
• 14:31
  now going to make a difference when silver hits 607080 plus
• 14:36
  dollars an ounce? No, it's not going to make a one
• 14:38
  bit of a difference because you are going to gain more on the
• 14:42
  upside than on the downside. Silver has more upside potential
• 14:46
  right now than the downside. Yeah, I've got some data we're
• 14:49
  going to look at later from this guy, Tavi Kosta, who is the
• 14:52
  smartest guy in the room. But you know, Chris, I'm going
• 14:55
  to wait. I know you love when I say this.
• 14:57
  I'm not buying silver right now. I'm waiting for it to go back to
• 15:00
  $22.00 an ounce, then I'll buy some silver.
• 15:03
  Well, you can keep on waiting for my friend, because I don't
• 15:06
  think that's going to. I don't think we can see that in
• 15:09
  a long, long time. I don't need.
• 15:11
  We may not even see that again. Let's go back to India.
• 15:14
  Chris, this is from I'm in the. I'm, I'm in the.
• 15:19
  I can't say that the lure can. You say that again, Ron.
• 15:22
  Isn't that where you're from? Weren't you born in Amadabad?
• 15:24
  Is that is that? The you know I'm a.
• 15:27
  Country bumpkin from Missouri, Missouri.
• 15:29
  So I have a kind of a Midwest accent.
• 15:31
  I think you have an Amadabaddad accent.
• 15:34
  No, I was born in Lawrence, MA. That's why I have my Boston
• 15:37
  accent. Don't.
• 15:38
  Well, don't worry everybody, because later in this show Coin
• 15:42
  Shop, Chris did some comparison prices and he's going to tell
• 15:45
  you all about quatas. OK, Quatas, if you know what a
• 15:50
  quata is. Quata, OK, the lure of gold, you
• 15:55
  need to speak like a sophisticated Missouri person.
• 15:58
  The lure of gold has never diminished for Indians.
• 16:01
  Then those are people live in India irrespective of their
• 16:04
  income level. An average Indian household has
• 16:07
  18% of their total investments in gold indicated by a study
• 16:13
  carried out by the India Gold Policy Center.
• 16:16
  So then look at this. I don't know if you can see your
• 16:18
  screen, Chris, but they got this cute little pig piggy Yeah, you
• 16:23
  I know we like piggies golden piggy, right?
• 16:25
  The gold standard and the shows like the top the Q5 it says over
• 16:29
  here categories as indicated income slabs at 20%.
• 16:34
  Q5 means the top 20% of income earners in India have 21% of
• 16:39
  their investments in gold. The bottom 20% has 16% and the
• 16:45
  survey was significant. It had it covered over 43,000
• 16:50
  households from across the geographies, income groups and
• 16:54
  education levels in India. I think it's safe to say that
• 16:58
  Indian people love, absolutely love their silver and gold,
• 17:03
  right? Absolutely.
• 17:04
  I got a few Indian people come in on a weekly basis on and
• 17:07
  they're buying what they can. You know, I hate to say the word
• 17:11
  buying is converting. They're taking their, as you
• 17:14
  like to call it, Unicorn font dust, and they're getting real
• 17:17
  money. I mean, it's just amazing.
• 17:20
  We're still taking cash for silver and gold.
• 17:24
  It's just amazing. Yeah, you convert.
• 17:29
  You convert paper into real money, right?
• 17:32
  So. Right.
• 17:33
  So, so, so we're looking at all this data cause before you came
• 17:36
  on we were talking about what's going on with China in silver
• 17:42
  specifically. Then we look at what's going on
• 17:45
  and we know what's going on with gold in China.
• 17:47
  Then we look at what's going on in India with gold.
• 17:50
  And we also know that in India also has 1.4 billion people.
• 17:54
  So if each of those people decide if 70, if 70% of the
• 17:58
  people in India and 70% of the people in China all bought one
• 18:03
  ounce of silver, it would wipe out two years of global
• 18:07
  production and and supply of silver.
• 18:10
  I mean, it's just absolutely crazy.
• 18:11
  But then Chris, and we're not going to dig crazy deep into
• 18:15
  this. That's just investment.
• 18:17
  I mean, when you look and like we said that like we saw there
• 18:20
  that, that, that Indian companies taking 25,000,000 oz
• 18:24
  off the Comex, they're taking delivery.
• 18:26
  I think that was before you came on as well.
• 18:28
  This Indian solar manufacturing company is, is is bought
• 18:32
  25,000,000 ounces of silver from the Comex and said, hey, we want
• 18:37
  it. And why is that a big deal?
• 18:38
  Cause the Comex is not used to people buying futures contracts
• 18:43
  and actually wanting delivery of it.
• 18:46
  Exactly. Yeah, you're absolutely right.
• 18:48
  And note on China, I did a little article on my channel on
• 18:53
  China that young people are not saving their yuan.
• 18:58
  They're saving, they're taking the yuan and they're stacking
• 19:01
  silver and gold in China. The younger people are scared of
• 19:05
  their currency in China. And that is what they're doing
• 19:08
  right now. And it's amazing how much, you
• 19:11
  know, if we all stop and think, you know, even if it's a few
• 19:14
  bucks here and there, get a silver quarter, get a silver
• 19:17
  dime. It adds up so fast.
• 19:20
  You believe you won't believe how fast we'll add up just a
• 19:23
  couple quarters here, a couple Dimes here, you know, in, in a,
• 19:26
  you know you can do that every single week or every time you
• 19:29
  get paid. It will really does add up.
• 19:33
  Yeah, yeah, yeah, yeah. The in the Chinese and the
• 19:36
  Indian people are just devouring the supply of silver and gold in
• 19:41
  the world right now. I mean, when we talk about this
• 19:43
  idea of a potential squeeze in silver, it's real.
• 19:47
  I've been showing data on the channel, Chris, with like these
• 19:50
  new solar farms they're building in China.
• 19:52
  I mean, they're unbelievable. We're talking like like
• 19:55
  5,000,006 million solar panels. And, and do you, do you think
• 19:59
  it's, it's safe to say that when you look at a solar panel farm,
• 20:03
  like they call them 5 or 6,000,000 panels?
• 20:06
  That what I, I like to call them, they're not solar farms.
• 20:09
  They're silver solar farms. Because each time I look at a
• 20:11
  solar panel, I think of about like an ounce of silver or 2/3
• 20:16
  of an ounce of silver in each panel.
• 20:19
  Yeah. And you know, the, the, the
• 20:21
  problem with all that is, you know, it's not really a problem,
• 20:23
  but you know, when you have to go clean them, you know, they,
• 20:25
  they're going to get dustier on and you know, someone's going to
• 20:29
  have to go clean those too. So that's going to add more
• 20:31
  money, you know, and the solar panels breakdown, you might need
• 20:34
  to replace the silver in them, you know, because how are we
• 20:37
  going to recycle this? We, we remember, we don't
• 20:40
  recycle a ton of silver anyways. Very small portion of the silver
• 20:44
  gets recycled, it gets thrown away.
• 20:47
  And are we going to stop mining landfills?
• 20:51
  Divine silver? That might be a come to play
• 20:53
  later on. Yeah, that definitely could be a
• 20:56
  a a potential situation. I mean, but it's just
• 20:59
  unbelievable when you look out there.
• 21:01
  Let's go, let's go take a look. You mentioned the the
• 21:04
  relationship between silver and gold.
• 21:07
  I want to take everybody out here.
• 21:09
  This guy, Tavi Costa had some really interesting.
• 21:13
  This this art man. I tell you what, the silver.
• 21:15
  Are you a fan of the Silver Academy, Chris?
• 21:18
  Yes. And now, I mean, you know, I
• 21:19
  don't follow them. You know, you sent me the
• 21:22
  article and I did read it. You know, it's got a lot of good
• 21:25
  information in there. Yeah, they've got a lot of they
• 21:28
  they put out something every single day.
• 21:30
  I'm a massive fan of the Silver Academy, the silver industry sub
• 21:35
  stack, you know, it's free and it's just a daily.
• 21:39
  And I've heard Andy Schechtman talk about, I've heard other
• 21:41
  people talk about them really is, is something that's gaining
• 21:44
  a lot of traction. But the gold to silver ratio is
• 21:47
  going lower, OK. So that that's the the ratio.
• 21:50
  How many ounces of silver does it take to get an ounce of gold?
• 21:54
  OK. And that keeps going lower and
• 21:56
  lower. I remember you and I talking
• 21:57
  back when it was it took 90 ounces of silver at one point to
• 22:01
  get one ounce of gold, OK? But it broke through a
• 22:05
  significant 13 year trend that was going on there.
• 22:09
  It is on a three month level. So it got as high as 87 not too
• 22:13
  long ago and currently sitting at around what, 7576?
• 22:18
  So it takes about 75 ounces of silver right now.
• 22:22
  Went from a high of 87 to a low of 73.
• 22:25
  OK, listen to what Tabi Costa said.
• 22:27
  Now Tabi Costa is a like a like AI want to say it like a
• 22:32
  financial. He he's just the smartest guy in
• 22:35
  the room type person is all I can say.
• 22:38
  Runs a big financial services company down in Brazil.
• 22:42
  This guy follows silver and gold like nobody else.
• 22:45
  And listen to what he said here after breaking a 13 year support
• 22:50
  two months ago. OK?
• 22:52
  The gold to silver ratio appears to be at an early stage downward
• 22:57
  trend. So that means it's going to take
• 22:58
  fewer and fewer ounces of silver to buy gold because relatively
• 23:02
  speaking, the price of silver is going up, he says.
• 23:05
  Although I firmly believe that gold remains historically
• 23:09
  attractive relative to the money supply and the current lack of
• 23:14
  fiscal fiscal discipline, right, He says in red.
• 23:18
  I believe there's nothing more undervalued and asymmetric in
• 23:24
  this macro environment than silver.
• 23:27
  And for those of you who don't know what asymmetric means, that
• 23:30
  means unbalanced, meaning that the upper upward potential for
• 23:35
  the silver price is far greater than the down downward risk.
• 23:39
  Like, Oh yeah, maybe silver could go down.
• 23:42
  Like worst case scenario, maybe silver could go down $10.00 an
• 23:45
  ounce from where it is, but it could go up by 50 or 80 or
• 23:50
  $90.00 per oz. So the upward potential is much
• 23:53
  bigger. And there's that ratio, Chris.
• 23:55
  And if you look that yellow line right, that's a long term, you
• 24:00
  can see the. We can see it on.
• 24:02
  Oh, you can't see it? Did I forget?
• 24:06
  Oh, Oh my gosh. I can't believe I did that.
• 24:09
  I made a mistake, Chris. There.
• 24:10
  Now you can see it right? Now we can see it, yes.
• 24:13
  I apologize guys, I was just reading anyway, but the gold to
• 24:16
  silver ratio, right? Oh, since what 2010, right,
• 24:22
  that's that 13 year. And as you can see, it broke
• 24:25
  down and again, it's the further that breaks down below that
• 24:28
  line, the higher that the silver price will be going relative to
• 24:33
  gold. And we think gold's going up as
• 24:35
  well. And that's just the opposite.
• 24:37
  So what are your thoughts on the gold and silver ratio, Chris, I
• 24:41
  know you've you've talked about that a little bit in the past.
• 24:43
  Any. Any.
• 24:44
  Thoughts. No I'm not a big gold bug gone,
• 24:47
  but I'll be. I'll tell you if we get down to
• 24:50
  30 to 125 to one I will be trading some silver in for gold
• 24:55
  just because to reduce the weight.
• 24:57
  The silver is the downfall about silver and the only really
• 25:01
  downfall about silver is it's, it's the weight.
• 25:04
  I mean, when you have, you know, a lot of silver and it you have
• 25:09
  to move, it's going to be a problem to move it.
• 25:12
  So eventually, yes, I am looking to convert, but not right now.
• 25:15
  I am still stacking silver as we speak on you know that's, you
• 25:21
  know, I love silver like you know, I will never give up my
• 25:24
  90%. I will never trade my 90% into
• 25:27
  poor gold that is for my bothered material when if we
• 25:31
  need to use it and hopefully we don't need to bother with it.
• 25:34
  Zombie apocalypse, right? Go ahead.
• 25:38
  You know, I, I did, I did our video on the other just
• 25:42
  yesterday were on, you know, silver four awards called and
• 25:47
  you know, I made a, you know, how much silver you would need
• 25:49
  for that. You know, we can convert that
• 25:50
  onto gold, but you know, it's, it's not, it's so hard to tell
• 25:54
  anybody how much gold you need, how much server you need,
• 25:57
  because everybody has a different lifestyle.
• 26:00
  So I mean, you know, it, it's hard to tell.
• 26:03
  It's not the right math for everybody, but it's a baseline.
• 26:07
  And so people want to check that video.
• 26:09
  Feel free to check that video out.
• 26:11
  Yep, Yep, Yep. And I'll take everybody out to
• 26:13
  your channel a bit later. I want to point out as well that
• 26:15
  historically speaking, the silver, the gold to silver ratio
• 26:20
  at times and, and I, I don't have the long term chart in
• 26:23
  front of me, but it's gotten even in recent times down very,
• 26:26
  very low. I think what in 2011, if I'm
• 26:30
  remembering correctly, it got as low as like 15 or 20.
• 26:35
  And I like what you said because that's the time when, yeah, when
• 26:38
  you might want to think about converting some of your silver
• 26:42
  into gold, right? Don't sell your silver for
• 26:45
  paper. Well, you do whatever you want,
• 26:47
  but I would never want to sell myself.
• 26:49
  But when we get that, that, that ratio, when the gold and silver
• 26:53
  ratio, when it only takes 20 ounces of silver to get an ounce
• 26:56
  of gold, maybe it becomes more attractive at that point to
• 26:59
  convert some of the some silver into gold.
• 27:03
  And you know, it's, it's, it's, I mean, you know, it feels like
• 27:08
  it'll never happen, but gosh darn it, it will happen, right?
• 27:12
  It's happened in the past. It will continue to happen.
• 27:14
  There were even points in history.
• 27:16
  Mark, Mark Gas, who's a great contributor to the channel,
• 27:20
  sends me a lot of great information, sent me an article
• 27:23
  that I may touch on in the future live stream that said
• 27:25
  that there were times in history where silver, Can you believe
• 27:28
  this, Chris? Silver was more valuable than
• 27:32
  gold. Yeah, there has been.
• 27:36
  That's no joke. That's no joke.
• 27:39
  Yeah, you know, I I mean, look, I'll be honest with you.
• 27:42
  Personally, I think silver's prettier than gold.
• 27:45
  I I I I like, So I know the value.
• 27:49
  And I love gold, don't get me wrong, but I love silver.
• 27:52
  Which do you love? Which do you think's prettier,
• 27:54
  Chris? I mean, you're touching this
• 27:55
  stuff all the time, right? You know, I I do like gold, but
• 27:59
  I'm a silver, silver saccharon. That's just, you know, just
• 28:03
  because I know, you know, I think most of the audience knows
• 28:08
  silver is so undervalued. Not saying gold's not
• 28:12
  undervalued, but gold's at an really an all time high just
• 28:16
  about we're about $4050 from an all time high.
• 28:20
  Silver's got more room to run what we're at $31.00 server.
• 28:24
  The all time highs right around 5051 depending what shot you're
• 28:27
  looking at if you're looking in in a day trading.
• 28:31
  But you know, we're this more room for silver to go than go
• 28:35
  right now, in my opinion. You know what, Chris, I just
• 28:38
  want to say something to you right now, buddy.
• 28:42
  It's nice to have you back in the basement.
• 28:44
  You know, we kind of, we kind of split up for a little while, but
• 28:47
  I feel like the band is back together, baby.
• 28:49
  So it's great to have you here in the basement.
• 28:52
  Wow, it's good to be back growing.
• 28:53
  Yeah, well, you're, you're the best.
• 28:55
  And I also want to say thanks to our moderator team.
• 28:58
  We've got, I think Jake's on here this morning.
• 29:01
  Hello, Jake. Annie.
• 29:03
  And Silvershire and everybody who I want to look, I did, I, I
• 29:08
  don't know if I did this yet. Thank you.
• 29:10
  Right. Thanks everybody.
• 29:11
  I can't say everybody's name, but you do have a name.
• 29:13
  So say it to yourself and realize that we do appreciate
• 29:17
  you being here, being part of the basement dweller community,
• 29:20
  if that's what you prefer to refer to yourself as, but it's a
• 29:25
  big deal. Your time's important and we
• 29:26
  really appreciate you being here and we really appreciate your
• 29:29
  support and your input. So thank you.
• 29:31
  Please give this a thumbs up. Subscribe to the channel.
• 29:34
  We're going to go out and take a look at coin Shop Chris's
• 29:36
  channel a little bit later and let him talk about that.
• 29:39
  But right now, what I wanted to go back to this idea of like,
• 29:44
  and that's why what Tavi Costa was talking about.
• 29:46
  That's why he says you said it as well, Chris, right?
• 29:49
  Silver has a lot more room to run right now.
• 29:53
  I mean, the the fundamentals behind silver are just
• 29:56
  absolutely incredible and. Just want to make a point, Ron.
• 30:00
  You know we're in the summer months now.
• 30:03
  This is a time Silver should not be doing anything.
• 30:06
  We're just getting summer going. We're just past the July 4th
• 30:09
  holiday. We had a big update on Friday.
• 30:13
  Ron. Is this going to continue into
• 30:14
  Monday? If we can hold between 31 and
• 30:18
  $40.00 for the rest of the summer, wait till September when
• 30:21
  we have a rate cuts. Just wait.
• 30:24
  It gets, it's going to, it's going to boom.
• 30:26
  I think we have a very short window at lower prices because
• 30:31
  after September when they cut rates and I, I'm, I'm not going
• 30:34
  to guarantee they're going to cut rates, but I'm 90% sure
• 30:38
  we're going to see a rate cut in September and probably another
• 30:41
  one in November. And silver and gold are going to
• 30:45
  fly to the moon. How far they're going to go, I
• 30:48
  don't know. That's just my prediction.
• 30:50
  Yeah, yeah, yeah. Well, and I, I had talked
• 30:53
  previously 3-4 weeks ago, I was preparing everybody like the
• 30:57
  summer, we're in the doldrums, right.
• 30:58
  Traditionally silver and gold are these are the worst months
• 31:02
  of the year. But Chris, think about this.
• 31:05
  Think about this, because of all this BS artificial synthetic
• 31:11
  bubble gum and duct tape monetary policy by the Fed that
• 31:14
  we've been have going on since 2008, right?
• 31:17
  The last 15 years, all the fiscal mismanagement by our
• 31:22
  politicians, our, our situation now really is different.
• 31:26
  I mean, things can happen on much more extreme levels and
• 31:32
  they can happen to much more quickly as well, right?
• 31:34
  Not to mention what's going on on a worldwide basis.
• 31:37
  So maybe this time really is different.
• 31:41
  Maybe, maybe we are going to have a massive July rally in the
• 31:46
  silver price and the gold price. Look, nobody knows for sure.
• 31:49
  It's hard, you know. But I mean, we are in a
• 31:52
  different environment right now. We've never faced right from a
• 31:56
  silver perspective. I mean, sorry Charlie, but in
• 32:00
  the 1970s in this country, right when silver went from $1.50 to
• 32:05
  50, like a 2530, whatever times price increase we didn't have,
• 32:10
  China and India were nothing. They were third world countries.
• 32:14
  They didn't have any money. Nobody had any money.
• 32:16
  Now we got China and India, right?
• 32:18
  They're, they're getting wealthy and that are sucking in all the
• 32:22
  world silver and gold. Oh, and by the way, we also have
• 32:25
  these industries, right? The semiconductor industry, the
• 32:28
  solar panel industry, the electric car industry that are
• 32:31
  all, it's simultaneously sucking in all the world.
• 32:35
  Are things really different, Chris?
• 32:37
  They are different. I do believe they are different.
• 32:39
  This time we're on absolutely because look, when was the last
• 32:44
  time we saw $31.00 back in the summer months?
• 32:47
  We, we have to go really rolling back into 2007.
• 32:51
  I believe it was the last time we saw these prices.
• 32:54
  This is the same setup, if not worse than when we hit $50.00 in
• 33:00
  2011. You know, we all know Gina E
• 33:04
  Yellen, that one you have in the box they're on.
• 33:06
  You know, it says inflation has been transitory.
• 33:08
  Transitory while it's inflation really going away.
• 33:12
  I don't think so. Prices are still high.
• 33:15
  They may not be going up as dramatically as they were, but
• 33:18
  they're still going up run. And we got oil rising and we've
• 33:21
  not even had a hurricane yet really in the Gulf.
• 33:24
  That's over the oil wells to stir up more places.
• 33:28
  We just wait for that later this summer and early fall.
• 33:32
  And let's hope we don't get a major hurricane in the Gulf to
• 33:35
  stir that up. Yeah, Yep, I'm just looking at a
• 33:40
  chart of, of the silver. Hold on here.
• 33:43
  I'm going to pull up Everybody look at this 'cause I mean, I, I
• 33:46
  don't know the specific, the specific data.
• 33:52
  Why is this chart not hold on here?
• 33:55
  Ah, there we go. OK, so there we are.
• 33:58
  Can you can see guys can see this chart here we are It let's
• 34:01
  OK, there's Susie. Susie says hi, Chris.
• 34:05
  Hello, Susie. So we are at 31.
• 34:09
  I I can't even get it on that. But let's just go up here.
• 34:12
  Here. Here we go 30.
• 34:13
  OK? Do you see that line?
• 34:15
  We've not been this high in the silver price since that brief
• 34:19
  period in 2011, right? I mean, if you look back, really
• 34:24
  here. I'm going to go over here, guys.
• 34:25
  Oh, here. You know what?
• 34:26
  I can draw on the screen, Chris? I figured out how to draw on the
• 34:28
  screen. You want me to do some coloring
• 34:30
  for you, Chris? Huh.
• 34:33
  We all know that you have a cut coloring book line.
• 34:37
  So this little period right here is the only time right in recent
• 34:41
  history that we that we were above where we and that was not
• 34:45
  that long. And then look how, how like
• 34:48
  overall the silver price has been higher.
• 34:50
  I mean, we are really in, I mean there's something that you said
• 34:53
  really sparked it in me, Chris. We are really in like new
• 34:56
  territory for the silver price. We got $31.00 silver.
• 35:01
  I mean, Chris, when did we meet? Tell the story about how you and
• 35:04
  I are faithful. How did we come together?
• 35:06
  Chris, how did we? Meet we met, we met.
• 35:09
  I sent you an e-mail, Ron, and with that on the Internet.
• 35:14
  That's right. Well, I actually emailed you
• 35:16
  because I I love your I love your channel, Ron, I love what
• 35:19
  you do. And I saw letters at 499 at my
• 35:23
  local grocery store I had for romaine lights 499.
• 35:26
  And I remember I sent that picture to you and you got back
• 35:30
  to me. We started talking back and
• 35:31
  forth. But you know, then you said on
• 35:34
  one of your live streams, that live stream that you did, would
• 35:37
  you pay at that time? So I believe silver was $20.00
• 35:41
  an ounce or so. Is that really worth 4 heads of
• 35:44
  lettuce? An ounce of silver?
• 35:47
  Really now? Now look at the lettuce today.
• 35:50
  Romaine lettuce just the other day was 2 for three dollars.
• 35:53
  Well, how many lettuces can you get for an ounce of silver
• 35:56
  today? A heck a lot more.
• 35:58
  Yeah, Yeah, yeah, yeah. That's how we met guys.
• 36:01
  We met through Lettuce Coin Shop.
• 36:03
  Chris and. Thank you Vincent Leone for the
• 36:06
  Super chat. Thank you, Vincent.
• 36:08
  Yeah, and thank you. Great Nate, right.
• 36:10
  Yeah, great Nate. Thank you for the Super chat as.
• 36:12
  Well. Coin shop Chris and I met on the
• 36:15
  Internet over lettuce. OK, and that's true, right?
• 36:19
  He's and I thought, who is this guy sends me this e-mail with a
• 36:22
  picture of lettuce. He said, look, lettuce at my
• 36:24
  grocery store is 5 bucks and I and he and, and then he said,
• 36:28
  would you trade? Cause back then the point I'm
• 36:30
  making is silver was 20 bucks an ounce roughly.
• 36:34
  And you said Ronnie, Ronnie, right?
• 36:37
  Which I love when? You.
• 36:38
  I said too, Yeah. I love when you call me Ronnie.
• 36:41
  Chris, I'm listening. Ronnie.
• 36:47
  Ronnie, would you buy, would you trade an ounce of silver for
• 36:50
  four heads of lettuce? I said heck no, right?
• 36:53
  I said I might trade an ounce of silver for 100 heads of lettuce.
• 36:56
  I don't know, right? But so, but just look how far
• 36:59
  the silver price. Like you said, you made a great
• 37:00
  point, Chris. Now we're at 30, we're at $30
• 37:03
  silver and the fundamentals are stronger than ever.
• 37:07
  Chris absolutely run back there and bang on my ping pong table.
• 37:12
  I mean, people don't realize that that we are in really good
• 37:15
  shape when it comes to the silver price.
• 37:18
  And Speaking of silver, let's get right to it.
• 37:20
  You did some comparison shopping.
• 37:22
  Talk to us about Quatas, Chris. Well it's not quatas, it's
• 37:26
  quatas but 90% silver cordis. I did a video on this also on JM
• 37:33
  Bowen. This these prices were as of
• 37:35
  Friday night on about 6 AP about 6:00 PM.
• 37:41
  So JM bowling had them for $273.20 for a row of quiz.
• 37:46
  SD bowling had them for two 4943, Hero Bowling had them for
• 37:51
  two 4250 at Max had them for two 4124 and pin backs your sponsor
• 37:59
  on had them for two 4020. So what I did was I took the
• 38:02
  highest price from JM. It's a $33 savings from JM
• 38:09
  Boeing. So if you went to JM Boeing
• 38:10
  today and bought over silver quarters, you'll be paying $33
• 38:14
  more. No need of it.
• 38:16
  Thank you Pemex, you know, again, Ron, Pemex, I tell you a
• 38:21
  lot of times they have the cheapest prices.
• 38:24
  I'll just say it that way. I mean, they people really need
• 38:27
  to shop around and you know, prices change on minute by
• 38:32
  minute depending what server is and really we have to walk it in
• 38:36
  at the cheapest price possible because 33 bucks, what can you
• 38:40
  buy? You can almost buy another ounce
• 38:42
  of silver out there for 33 bucks.
• 38:46
  Add a dollar, maybe add a dollar to two more for the cream.
• 38:50
  You know, and you're really at right there.
• 38:52
  You can get almost a free Silver Eagle from Pemex from shopping
• 38:56
  from JM. Yeah.
• 38:58
  So, so the, the price you quoted on those quarters now, and I
• 39:02
  want to be clear for everybody, those are 90% silver quarters,
• 39:06
  what a lot of people refer to as junk silver or constitutional
• 39:10
  silver, but they're 90% and for each each, I got a couple here I
• 39:15
  can show. So these are from like the
• 39:18
  1950s, right? These are and they, and they
• 39:21
  sound different if you can hear that when you clink them
• 39:23
  together. But when you, when you take a
• 39:26
  dollar, when you take like four quarters, you basically have
• 39:29
  what like .715, I think it is ounces of silver and, and, and
• 39:35
  that for each $1.00 worth of junk silver.
• 39:38
  Is that correct, Chris? The the easiest math, Any
• 39:41
  combination of Dimes, quarters or half dollars, $1.40 is
• 39:46
  considered an ounce of silver. That's the easiest way to
• 39:52
  remember it every dollar. So if you have $1.50 in silver
• 39:56
  quarters, you have actually more than an ounce more than a silver
• 39:59
  in your hands. Yes, or if you have a dollars
• 40:02
  worth then you have .715 oz correct?
• 40:06
  Correct. Yes, OK.
• 40:08
  And then the price that you talked about those numbers that
• 40:11
  you ran, how much, how much like is that?
• 40:14
  Was that for like how much face value?
• 40:18
  Got to be 10. That'll be $10 face. $10.
• 40:22
  OK, $10 face value and it's all ACH prices, no credit cards.
• 40:26
  It was all ACH prices. So I did apples for apples and,
• 40:31
  you know, come back. So, you know, like I said, you
• 40:33
  went to JM Bowling and none of these companies are bad
• 40:36
  companies, OK? It's just you have to shop
• 40:39
  around and often times you know, you know, I I've been keeping an
• 40:43
  eye on Pinmex wrong. And I tell you, they have the I
• 40:46
  have never seen them hiding. They always have the cheapest
• 40:50
  price on American Silver Eagles every single time I check.
• 40:55
  Yeah, well, I like Pinbex because I know I can trust them
• 40:58
  and I know they have great prices.
• 41:00
  And then it's, so if I want to go, then go out and sure, I, I
• 41:03
  check, right, because they're my sponsor and I, you know, I, I, I
• 41:06
  believe in what they're doing. But, but what I like is that I
• 41:11
  know the prices are going to be great and I know I can trust
• 41:14
  them. So I don't have to go through
• 41:15
  this whole process of going to every, all these different
• 41:18
  websites. And then, OK, then I need, if I
• 41:20
  do find something that I got to do investigative work to make
• 41:23
  sure this is a company I can trust, because there's a lot of
• 41:26
  great other trustworthy companies out there, absolutely,
• 41:30
  no doubt about it. But there are some bad apples as
• 41:33
  well. So what I like about Pembex is I
• 41:36
  know I can trust them and I know I'm getting a great price it it
• 41:38
  makes it a simple transaction. But I'm waiting for $22.00
• 41:44
  silver to come back before I start buying more.
• 41:46
  Well, $22.00 is in your dreams. I'm might have to give Susie a
• 41:51
  call to lock you in the game. Some more silver quarters
• 41:54
  rolling. Yeah, right, right.
• 41:57
  Really. But you know another way to save
• 41:59
  a little bit of money, you know they do have tubes to stack
• 42:02
  these into. But those tubes folks are going
• 42:04
  to probably cost you about $1.50 plus.
• 42:06
  Now you know, an old medicine bottle or an old vitamin bottle,
• 42:10
  wash it out good, dry it out good.
• 42:13
  And I tell you in these medicine bottles you can stack 28 plus
• 42:16
  face depending on the size of the medicine bottle and just put
• 42:19
  silver cordless 90% and put the face value that way.
• 42:22
  You know what's exactly in that bottle?
• 42:26
  What about? What about?
• 42:27
  Do you still use old toilet paper rolls to stack them up?
• 42:31
  In Oh no, no, I don't use old toilet paper rolls.
• 42:33
  Maybe you do. Chris, do you have a few more
• 42:37
  minutes to stay with us 'cause I you do you realize, Chris, that
• 42:42
  oh, cowbell, I got to ring the cowbell.
• 42:44
  I keep forgetting. OK, cowbell.
• 42:45
  Chris, hold your ears. Ring it louder.
• 42:49
  Is that loud? Thank you everybody.
• 42:54
  Yeah, thank you everybody. And we do need to run out.
• 42:57
  We're going to run out. Chris, don't let me forget to
• 42:59
  run out your channel. But do you have a few more
• 43:00
  minutes? I know you're busy to stay with
• 43:03
  us 'cause we were heading into this is big right now like we
• 43:07
  are on the, the, the, the, the, the, the cusp of a potential
• 43:11
  potential big move in the silver and gold price.
• 43:14
  And I want to talk about what what Kitco is saying about
• 43:18
  what's going on right now and get your thoughts if you have
• 43:21
  Chris a few more minutes to stay with us.
• 43:23
  Sure, why not? OK, All right, let's go out to
• 43:25
  this article from Kitco. My friend who I've never met,
• 43:29
  but I think he's a friend. I think he's a great guy.
• 43:31
  Used to be used to make videos, Niels over at Kitco.
• 43:34
  I like Niels back. If you look back a long time
• 43:36
  ago, they used to he would do interviews.
• 43:38
  But Niels Christensen put out this article.
• 43:40
  Gold investors I $2400 per oz as market sees fewer barriers to go
• 43:48
  to the to the Fed's easing cycle.
• 43:50
  Now I'm paranoid I don't have the article up.
• 43:52
  OK, Yeah, If I don't have the article up, let me know next
• 43:55
  time, Chris. Thank you for your help earlier
• 43:57
  on that, by the way, and. You're welcome, sunshine.
• 44:00
  Disappointing economic data. I'm going to read for a while,
• 44:04
  Chris, so I know if you want to eat a couple Ding dongs, feel
• 44:07
  free. Disappointing data Disappointing
• 44:12
  economic data, including slowing momentum in the US labor market,
• 44:18
  is raising market expectations that the Federal Reserve will
• 44:22
  lower interest rates in September.
• 44:24
  According to the Chicago Mercantile Exchange Fed Watch
• 44:28
  tool, markets see a nearly 80% chance of a rate cut after the
• 44:34
  summer break. And I think when they say summer
• 44:36
  break, they mean July. OK, so the, the labor market's
• 44:40
  slowing. I'm, I'm going to point this
• 44:41
  out. It's critical for us high level
• 44:45
  gold and silver analysts that all of us basement dwellers are
• 44:48
  to realize the labor market is a big lagging indicator.
• 44:52
  OK? It means it reacts in two ways.
• 44:55
  It reacts in a delayed fashion to when the economy starts to
• 44:59
  crash. So it's delayed, it's a lag
• 45:01
  before it reacts. And it starts slowly.
• 45:05
  It doesn't move. It's kind of like trying to turn
• 45:07
  a giant aircraft carrier or something, right?
• 45:09
  Like, But once it starts moving, it's hard to stop it.
• 45:13
  And right now what we're seeing is definitive proof that the
• 45:17
  labor market is slowing. Would you say that, Chris, are
• 45:19
  you seeing? That the labor market,
• 45:21
  absolutely. Yeah, well, look, you, you did
• 45:24
  this story too, Bob Stores, we got Big Lots, Ron, that thing
• 45:30
  about bankruptcy, we got home goods thinking about bankruptcy
• 45:33
  jobs, you know, these smaller stores that are not really high
• 45:37
  end stores, people can't even afford these lower end stores.
• 45:42
  So I mean, you know, JC Penney's is is closing more stores.
• 45:45
  I mean, it's getting really scary out there.
• 45:48
  And you know, some people say, well, I don't shop at Big Lots,
• 45:51
  but you know what we have to keep realize Ron into your
• 45:55
  audience. What we got to keep in mind is
• 45:57
  still jobs and those people still have make income and those
• 46:01
  people support your local businesses too.
• 46:04
  When they don't have a job, guess what?
• 46:06
  Other businesses will suffer eventually.
• 46:09
  Yep, Yep, Yep. And I I'll ask you this
• 46:11
  question, Chris, when's the last time you heard about a new, a
• 46:15
  new, a new store opening? I mean, I'm sure there are, but
• 46:19
  I mean, what about Walgreens? They're going to close 25.
• 46:22
  I mean, when's the last time we heard about a new store opening?
• 46:24
  And I, but I got a question. Chris, are you, are you OK?
• 46:27
  I'm, I'm going to make sure. Are you better now?
• 46:29
  Is everything OK? That's fine.
• 46:31
  Why? Oh well, because I know when
• 46:33
  when we talk about the store Closings, I know that that when
• 46:37
  Bed Bath and Beyond closed their doors.
• 46:39
  That was a very difficult. Period for you.
• 46:42
  Have you recovered from that? It's.
• 46:44
  Been a few months. I'm not laughing because you're
• 46:48
  so crazy that. Conjuan, I love when you laugh.
• 46:51
  I've always loved. Your coin shot.
• 46:52
  Chris laugh. Right, right.
• 46:54
  Yeah, I'm I got OK, OK. Oh my God.
• 46:58
  In red, rising expectations for the start of a new easing cycle
• 47:02
  have pushed the US dollar index to a three-week low.
• 47:05
  And I think this is an error. Bond yields to a four week high.
• 47:08
  I think that's supposed to be four week low in green, which is
• 47:12
  providing a tailwind for gold as prices traded 4 weeks high blue
• 47:15
  at the same time, silver prices have catapulted catapulted above
• 47:20
  31 bucks an ounce and are also trading at four weeks highs.
• 47:24
  OK in orange. I'll get all these colors.
• 47:27
  I love all the different colors. The precious metals latest
• 47:29
  momentum Dr. came after disappointing June employment
• 47:33
  data. We know that and it's, it was
• 47:34
  disappointing, but it's BS anyway.
• 47:37
  However, the unemployment rate went up.
• 47:39
  The report also, this is at this ticks me off, but it's the, the
• 47:45
  gold and silver figured this out.
• 47:46
  The report also revised April and May employment numbers lower
• 47:50
  by more than 100,000 jobs, right?
• 47:53
  What do you think about right, Chris?
• 47:54
  We've talked about that like they, they put out these
• 47:56
  employment numbers which aren't even that good anymore, but then
• 47:59
  they secretly say, Oh yeah, we have to adjust the previous
• 48:02
  month's numbers. We told you because those were
• 48:04
  overstated. We lied.
• 48:07
  Also, Ron, we have to keep in mind, you know, when someone
• 48:10
  goes on unemployment and they can't find a job after their
• 48:14
  unemployment runs out, they, they fall off the books, they're
• 48:17
  no longer counted. So we don't know these
• 48:20
  unemployment numbers are a lie to begin with.
• 48:23
  Because, you know, depending what state you live in, who,
• 48:27
  yes, some states are 26 weeks, some states are 13 weeks,
• 48:29
  depending what state you live in, you know, if you can't find
• 48:32
  a job in the 13 weeks or the 26 weeks, you know, equal to what
• 48:38
  you're getting now that you had, you know, you're not counted no
• 48:43
  more. And you know, when, when we had
• 48:46
  that big surge when Obama was in office, when Obama gave that
• 48:49
  extra $25 a week out for unemployment, it went up to 99
• 48:54
  weeks. And people still couldn't find a
• 48:56
  job after 99 weeks. Yeah.
• 48:59
  Yeah, it's ugly. Out there.
• 49:01
  It's. It's coming to that point, Ron,
• 49:04
  is, you know, at what you know, I think they want us to stay
• 49:07
  home and order off of freaking Amazon.
• 49:10
  Excuse the language, Ron, I'm sorry.
• 49:13
  But you know, I think that's what they want us to do is order
• 49:16
  off of Walmart and order off of Amazon.
• 49:20
  And and get a bunch of cardboard boxes piled up in your.
• 49:23
  House and get a yeah a bunch of cardboard boxes that's, you
• 49:27
  know, we pull away yeah. Yep, Yep.
• 49:29
  Well, well, Chris in purple here.
• 49:31
  Ricardo Evangelista, technical analyst at Active Trade, said
• 49:36
  that he would not be surprised if gold pushed above 2400 an
• 49:40
  ounce this week, This coming week.
• 49:42
  We like that guy, he said talks about the US employment data and
• 49:47
  it confirmed that the American labor market continues to cool
• 49:50
  down, albeit not in a pronounced way, but still enough to favor
• 49:54
  of a Fed. the Fed doves to get the doves at the Fed to say, OK,
• 50:00
  we can cut rates. OK, he said, quote, in the first
• 50:04
  half of the year, the resilience of the US economy created
• 50:06
  headroom for the Federal Reserve to keep rates high for a longer.
• 50:10
  So signs of a cool down are likely to drive a softer U.S.
• 50:14
  dollar as well as lower Treasury yields, a dynamic that supports
• 50:18
  the price of bullion. One of my favorite analyst of
• 50:21
  all time, Ole Hudson, head of commodity strategy at Saxo Bank,
• 50:26
  said it might be a little premature to call gold's
• 50:30
  consolidation period over, but he remains optimistic the prices
• 50:34
  will eventually move higher, he said.
• 50:36
  Quote, I would be a bit surprised to see the market go
• 50:39
  higher already, but then again, the recent correction was very
• 50:44
  shallow, indicating either strong underlying demand at
• 50:47
  lower prices or simply that already established longs saw no
• 50:52
  reason to reduce their exposure. What he said is I, you know,
• 50:57
  Chris and and all you know, everybody was saying, oh, if
• 50:59
  gold can hold 2200 through the summer, if gold can hold.
• 51:02
  I even heard some people say 2150.
• 51:04
  They got all these fancy charts with lines and drawings and
• 51:07
  circles and all kinds of stuff like that.
• 51:10
  But what's happened is the gold hole so far has held 2300.
• 51:15
  I mean, in on the futures market, it's pushing up against
• 51:18
  2400. I mean, this could be it, this
• 51:21
  could be it. Or six weeks from now we could
• 51:25
  be saying, gosh, I hope gold doesn't go below below 2100.
• 51:29
  I don't think we're going to see that run.
• 51:31
  I really don't. I mean, you know, I really don't
• 51:34
  see and if it if, if I really saw that run, I'll be, you know,
• 51:38
  I'm being just being honest. I just don't see it happening,
• 51:41
  not with everything going on out there.
• 51:43
  We gas is starting to go up again, you know what I mean?
• 51:47
  It's everything coming to a head and you know, inflation, we have
• 51:51
  to remember inflation, you know, go back to inflation from it.
• 51:54
  It's it's a tax run. It's a tax on the people.
• 51:57
  That's all inflation is. It's robbery.
• 52:01
  It is it's robbery. It's.
• 52:03
  Robbery. It's robbery.
• 52:04
  It's robbery from the middle class, right?
• 52:07
  And the working class, because the working class works for the
• 52:10
  dollars and then it it gets eroded away through inflation.
• 52:15
  Whereas the upper 1234 percent that own all the assets in the
• 52:20
  country, they don't call it inflation.
• 52:22
  They call it a bull market in the stock market or they call
• 52:25
  it, you know, real estate prices going through the roof, whatever
• 52:28
  the case may be. Although they've lot of them
• 52:30
  have had their lunch handed to him with the commercial real
• 52:32
  estate drawdown. But I want to talk about the
• 52:35
  biggest story yet. And that's what this next point
• 52:39
  in this article talks about. Chris, last week, we had the
• 52:44
  biggest story of the second-half of 2024, the jobs number.
• 52:48
  Now we have an even bigger story coming up this week.
• 52:51
  On Thursday, we will get the report that shows the inflation
• 52:55
  numbers for the month of June. And in red here, it says it very
• 53:00
  clearly. With the US economy slowing
• 53:02
  down, the biggest risk for the gold market remains inflation,
• 53:07
  which will be a critical data on next week's calendar.
• 53:10
  That'll be Thursday this coming Thursday.
• 53:12
  However, many analysts note that even this risk is limited as
• 53:18
  slower growth will lead the easing price pressure.
• 53:21
  So we're going to get this if we get a low inflation print on on
• 53:25
  Thursday, OK, It's that that could be the, the, the, the,
• 53:29
  the, the turbo boost button for the silver price and the gold
• 53:33
  price, right. And if you think about it, you
• 53:36
  know, there, I think there's a couple things that are I, I'm,
• 53:39
  I'm, I'm going to go out on a limb, I'm going to make a
• 53:40
  prediction and say that the inflation number will at minimum
• 53:44
  just meet what they're expecting.
• 53:46
  But I think it could even come in lower because the economy is
• 53:49
  slowing down. People don't have money, right?
• 53:52
  I mean, everybody I talked to, everything that I observe shows
• 53:57
  that, that people just don't have money to spend, especially
• 54:00
  on discretionary type items. And the 2nd component to that is
• 54:05
  that we are in an election year. And wouldn't it be just
• 54:08
  wonderful for Bidenomics if on Thursday they could say, look,
• 54:12
  and for the Fed to say, look, inflation's down.
• 54:15
  We got like a, like that. We get a, a, a surprisingly low
• 54:19
  inflation print number. And they can point to that and
• 54:22
  say, look, we're, we're, we're, you know, we're taking control.
• 54:25
  I'll I'll be shocked if on Thursday the inflation number
• 54:28
  comes in higher than expected. How?
• 54:32
  How many people do we actually believe that these inflation
• 54:35
  numbers when they strip out food, oil and houses on if they
• 54:41
  did the same inflation rate they did back in the 70s, we'd be
• 54:44
  around 16 to 18%. Now we all know it's a big lie
• 54:50
  and that and that's what it is. I mean, I'm just going to call
• 54:53
  it it what it is. It's a lie run and it's
• 54:56
  shameful. You know, if we, if you go back
• 54:59
  and look at inflation, you know, the past 1520 years, the last
• 55:05
  four years, Ron, we've had record high inflation, but it
• 55:10
  don't compare to the 1970s because they stripped out oil,
• 55:13
  food and housing, the big boys that we all need.
• 55:18
  And you know, that's, that's what it is.
• 55:21
  And you know, it's, it's, you know, if you go to child stats,
• 55:24
  they have more of an accurate prediction of the, the history
• 55:27
  of inflation. They really do.
• 55:29
  Yep, Yep, Yep, Yep. Let's talk about, let's talk
• 55:33
  about, hold on here, one more 'cause we missed this one.
• 55:37
  Just one more sign of how strong the economy is, because here we
• 55:40
  have this headline pizza chain reportedly on the brink of
• 55:44
  bankruptcy. Bankruptcy.
• 55:46
  OK, not like we're talking bankruptcy pizza chain, but is
• 55:50
  it a big pizza chain? OK.
• 55:52
  A national fast casual pizza chain is exploring a potential
• 55:55
  bankruptcy filing as the company looks for a buyer, according to
• 55:58
  several reports. MSN reports.
• 56:01
  People familiar with MOD Pizza, which I've been to, we got a
• 56:05
  couple of those, I believe in Saint Louis or we used to
• 56:07
  anyway. Say the Seattle chain has hired
• 56:09
  legal and financial buyers to work on a possible sale of the
• 56:12
  business or a bankruptcy filing. OK, how big is it?
• 56:17
  The restaurant industry publication said at the end of
• 56:20
  2023, Mod operated over 550 locations.
• 56:26
  How many people do you think work at each one of those
• 56:29
  locations? At least 10, right.
• 56:31
  So that's, I mean, this is happening everywhere.
• 56:35
  This is this is not like, you know, some little isolated event
• 56:39
  or anything like that. It is happening absolutely
• 56:41
  everywhere, right things. Are and that is exactly what I
• 56:45
  meant by when you were talking about bed and Bath.
• 56:49
  You know, when you take these biggest ones, it's going to hurt
• 56:51
  your local little family businesses, little restaurants.
• 56:57
  It's going to hurt those businesses too when you, the big
• 57:00
  boys go out. And then it chuckles down to the
• 57:04
  small business trying to survive.
• 57:06
  And guess what these little restaurants are, these small or
• 57:10
  cane restaurants are not going to be able to survive because we
• 57:13
  don't have the money to go out there to support them.
• 57:17
  They may they have great food, but you know, it's happening all
• 57:21
  over the country. Wrong.
• 57:22
  And it's sad. Yep, Yep.
• 57:24
  So when Coin Shop Chris can no longer go to Bed Bath and Beyond
• 57:28
  to buy his new bed sheets or whatever happens to be shopping
• 57:31
  for that day, the person that worked at Bed Bath and Beyond no
• 57:35
  longer has a job. So they can't get their paycheck
• 57:38
  on Friday and go to Mod Pizza and buy pizza and eventually it
• 57:41
  all goes to 0, right? And we're happy we have gold and
• 57:43
  silver, right? Right.
• 57:47
  So that's why you maybe you know, you know, there are some
• 57:50
  farmers markets out there not wrong that no certain vendors
• 57:53
  will take silver for food. Keep that in mind folks, You
• 57:57
  know, get to know your farmers market people and ask them if
• 58:00
  they willing to take silver right now.
• 58:03
  Don't mean you have to get up the silver now, but you know
• 58:05
  when the time comes you have a food source to go to for your
• 58:10
  fresh fruits and vegetables. That's my main message there.
• 58:13
  Yes. And so here we are.
• 58:15
  Now guys, let me make sure I've got this on the screen.
• 58:17
  Yes, I do. Here we are at coin shop, Chris.
• 58:20
  Coin shop Chris, right, who's been a great friend of the
• 58:22
  basement for for for over a year now has his own YouTube channel.
• 58:28
  And I really would like everybody to go out there and
• 58:30
  check it out. All you have to do is go into
• 58:32
  YouTube, type in coin shop Chris and this will come up this
• 58:36
  whatever is that a silver coin, I guess.
• 58:38
  And here's his little. Picture.
• 58:39
  That's a silver coin, Yeah. Are those quaddas in that
• 58:41
  picture? Looks.
• 58:42
  No, those are Maple Leafs. Maple Leafs.
• 58:45
  OK, but but here's our mission today guys.
• 58:48
  Coin shop, Chrissy just started, he's doing great, his almost 500
• 58:52
  subscribers, but he doesn't quite have 500 subscribers.
• 58:55
  Do you? Do you think we could us
• 58:57
  basement dwellers could go out and show Chris some support and
• 59:02
  and get Chris over 500 subscribers today?
• 59:08
  Yeah, that's OK. Check out these videos.
• 59:11
  What's your highest viewed video at this point, Chris?
• 59:14
  That would be the Silver gone video.
• 59:17
  Silver gone. OK here, popular.
• 59:19
  Let's take a look here guys, just to give you a taste for
• 59:22
  what he's got here. Silver gone.
• 59:24
  I mean, that's big, Chris, for less than a month you, I can
• 59:28
  tell you from having built a YouTube channel myself, you are
• 59:31
  obviously delivering a message that is resonating with people.
• 59:35
  I know you cover a variety of subjects, but it all has to do
• 59:38
  with silver and gold. Is that is that safe to say?
• 59:41
  Yes, mostly I do some foods, some inflation videos and stuff
• 59:45
  like that too. I might add a few things here
• 59:47
  and there, but but I'm really shocked about the 43,000 Silver
• 59:51
  Soul video. You, you know, I was really
• 59:54
  shocked at how well that one has done.
• 59:56
  So I mean, you know, I mean I'm trying to spread the message.
• 1:00:00
  You know, I do a little bit differently.
• 1:00:01
  I use flash cards and some of the videos are on.
• 1:00:03
  And that's, you know, how people, you know, especially
• 1:00:06
  when I do the coins, you know, the, the key, the key to 8
• 1:00:10
  years, you know, flash cards like people seem to like that.
• 1:00:13
  So I'm going to keep doing it and went out to the dollar store
• 1:00:16
  and got more flash cards, so. You went to the dollar, you went
• 1:00:19
  to the dollar store, right? Well, I every dollar I can save
• 1:00:23
  on to buy more server, that's what I'm going to do.
• 1:00:27
  So if if anybody wants to come over and join me at my channel,
• 1:00:32
  please let me know. You're coming from the basement
• 1:00:34
  and so we can give Ron some credit back on that.
• 1:00:37
  I would appreciate this. Leave me a comment in any video
• 1:00:39
  you watch that you come from the basement and you subscribe.
• 1:00:42
  I would appreciate that. Chris, you know we love you here
• 1:00:46
  in the basement. I know the basement dwellers
• 1:00:48
  love you. You've been around.
• 1:00:49
  You know, we joke around about Barbie Bobby, we talk, we joke
• 1:00:52
  around about Ding Dongs, but the bottom line is that we really
• 1:00:55
  care about each other, just like a lot of the people on this
• 1:00:57
  channel care about each other, right?
• 1:01:00
  You know, people like Annie Oakley, Jake from Jake's Custom
• 1:01:04
  Parts, Silvershire, the moderators, but all the other
• 1:01:06
  people as well. There's a lot of super nice,
• 1:01:10
  wonderful people in the silver and gold community.
• 1:01:15
  I've already said thank you to our channel sponsor, Pinbex.
• 1:01:18
  Don't forget, if you need to get your hands on some silver, gold
• 1:01:20
  or platinum, go check out Pinbex.
• 1:01:22
  You help support the basement. They support this channel make
• 1:01:25
  this possible. Thanks to 1st Mining Gold and
• 1:01:29
  Fortuna Mining full stocks that I own.
• 1:01:32
  Although I'm not giving financial advice, but you can
• 1:01:35
  learn more about them at their respective websites as well.
• 1:01:39
  Chris, thank you for joining us today.
• 1:01:41
  Any partying words for our audience?
• 1:01:43
  I just got one final thought, Ron.
• 1:01:45
  You know, I do own some first mind gold and you know, I guess
• 1:01:49
  we can't give her nine financial advice, but I think Dan and his
• 1:01:53
  team over there, Dan both and his team is doing a heck of a
• 1:01:57
  job. I like Dan, you know, he's a
• 1:01:59
  good man. I think he's the most honest one
• 1:02:01
  of them out there. To be honest with you that this
• 1:02:03
  my opinion. You know, when you do videos
• 1:02:06
  with him, I'm I'm tuned right in on because I think Dan's really
• 1:02:10
  sends the message and he cares about his company right down to
• 1:02:15
  the right down to the last oz they're going to dig out of the
• 1:02:17
  ground. Yep, Yep, Yep.
• 1:02:19
  And I do know he has a lot of his own personal wealth invested
• 1:02:21
  in the company. As well.
• 1:02:22
  And that's what you want. And that is what you really want
• 1:02:25
  when if you're looking at mining stocks, that is what you want to
• 1:02:28
  see, yes. Yeah.
• 1:02:30
  All right, Chris. Thank you.
• 1:02:31
  We'll see you soon. Thank you all.
• 1:02:33
  Thank you, Ron. Thank you, Susie.
• 1:02:35
  All right, guys, and thank you for being here.
• 1:02:37
  Basement dwellers. I should see you again tomorrow.
• 1:02:41
  Have a great day. Bye.
• 1:02:43
  Bye.