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🎯 But... Why Did SILVER PRICE Get Destroyed $.75!!! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Have you been noticing absolutely crazy action in the
0:03
silver price, in the gold price, silver in particular?
0:08
We're going to dig in and explain why this is going on and
0:11
why the future looks so bright for the gold price, but in
0:16
particular our good friend Mr. Silver Price as well.
0:20
Welcome to the basement Basement dwellers.
0:22
I appreciate you joining the live stream today.
0:24
Please give this a thumbs up. Subscribe to the channel and
0:27
super chats are always super appreciated.
0:30
And when you give a super chat, I try to put it up on the
0:32
screen. But I'm here by myself today so
0:34
you have to bear with me. Susie has left me temporarily, I
0:38
think, so she's not here to help.
0:40
Give me cues as to what's going on, but also, oh boy, oh boy.
0:45
I've created a Ferrer, A fervor, a fever.
0:49
I don't know, whatever, $10,000 gold.
0:51
Are we going back to the gold standard?
0:54
I got news for you guys, $10,000 gold.
0:58
That is absolutely nothing. We could see 20-30.
1:02
I've even heard numbers as high as, God forbid, $40,000 for the
1:08
price of gold. But we're going to talk about
1:10
big picture. Interesting components that are
1:14
coming into place right now that are giving us clues that the
1:18
world may be heading back towards a gold and silver
1:21
standard. Haven't 5000 years of history
1:24
proven us, proven to us that that's what happens?
1:28
OK, are we going to get dragged back into it Kicking and
1:32
screaming? And you can.
1:33
You can bet your bottom dollar, you know who's going to go back
1:36
into that kicking and screaming? Let me show you.
1:39
It's been a few days. Let me get him out for you.
1:41
Just one second. Big surprise special guest.
1:45
Oh, and by the way, we are having a big, big special guest
1:48
a little later in the live stream.
1:50
Daniel Diaz from Citizens for Sound Money with a major update
1:54
as well. But who's going to get drugged?
1:57
Kicking and screaming? I know.
1:59
Fan favorite. Our old friend.
2:01
The box. I'm not supposed to open it.
2:03
I don't want gold. I hate gold.
2:06
I hate gold. You know what?
2:08
I'll tell you what? We're going to put this in the
2:11
box with him. Hold on.
2:13
Show and tell. I love America.
2:15
Don't you just love American Silver Eagles?
2:18
I mean, hold on. I want to get a good shot of
2:20
that. Well, anyway, look at that
2:24
thing. Oh, yeah, Look right there.
2:26
Behold the beauty. We're going to put that.
2:29
Oh, look, I forgot. Here's the solution, Huh.
2:33
What do you say we're going to stick that in the box with
2:37
Jerome? The gold standard.
2:42
The Silver Standard All right, let's get started.
2:44
Let's dig in. What is this craziness?
2:47
Have you noticed absolute craziness and especially the
2:50
silver price? Yesterday, down what, $0.75?
2:53
We still had held $28.00, which is critical.
2:57
And I got to give some props out to our friend coin Shop Chris,
3:00
who earlier in the year keeps reminding me.
3:03
I said once we got above 2650 we were going to keep going up and
3:06
up and up. So he was right.
3:08
I was wrong. Well no, I wasn't wrong.
3:10
I think we're going to $45.00 silver, but nonetheless, good
3:14
job coin Shop Chris on that call.
3:16
But guys, we were down $0.75 on the silver price yesterday.
3:20
What gives What is going on? What is causing this?
3:23
Gold was up a tiny bit and the mining stocks were down.
3:28
I'm telling you, think about this craziness, like this weird
3:32
price relationships that usually happens right before something
3:36
is getting ready to break. And let's look at what might get
3:40
ready to break. OK, I'm going to bring you out
3:44
to the Internet. There you are.
3:46
All right, let's look at the dollar index.
3:49
Let's have some fun. Let's be happy.
3:52
Are you ready to be happy? This is the US Dollar index or
3:56
the DXY as some people call it. We're at 106.
4:01
Here's the deal, boys and girls, basement dwellers.
4:04
And I'm speaking to myself when I say that as well.
4:07
The higher this number goes, that is downward pressure on the
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gold price. But let's look at a one year
4:13
chart. Oh, do you notice here we are
4:16
near one year high, right? Let's look at a five year chart.
4:20
Oh, we are near a high, very high level.
4:23
We did back in October of 2022 go a little bit higher, about 5%
4:28
higher than where we are now. But remember the higher this
4:31
number goes that is downward pressure on the price of silver,
4:36
on the price of gold. When you look at this on a five
4:39
year basis, can you see that we are near historical high levels,
4:45
not historical all time high levels, but historical high
4:48
levels. And I want you to think about
4:50
this and we're going to look at the 10 year bond yield next
4:53
guys. This is downward pressure on the
4:55
price of silver, on the price of gold.
4:57
This high number despite all this downward pressure that this
5:02
high number I won't say that again has created gold's at an
5:06
all time high. What happens when this number
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reverses, what happens when we go out to the maximum level and
5:13
we look at where we are? Do you see that horizontal line
5:16
going to cross the graph? Do you notice something?
5:21
Let's go back here. Looks like from about the year
5:24
2000 until the year 2002 were the only other time since 1985
5:30
when it was much higher that gold and silver have been
5:32
higher. Let me ask you another key.
5:33
This is big, big news, big, massive this little period right
5:39
here right when the dollar got to 113 blah blah blah whatever
5:43
range, OK, O to O2. Do you know what happened
5:47
between O2 where I am on the graph right now in about 2012,
5:53
2011 that was that 10 year bull run in the gold and silver
5:58
markets. That's the way I understand it.
6:00
Keith Newmayer, when I was talking with him couple weeks
6:03
ago said there was a big 10 year bull market that we had from O2
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to 2012. OK, all right, let's go real
6:10
quickly and look and see if it's a 10 year bond yield, same
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thing. That's one day.
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Let's go out to one year. Oh look, we're near all, you
6:21
know, not all time high for the last year.
6:23
We had that little blip of that little period right here back in
6:26
October, but let's go out to the Max.
6:30
Oh, let's see here again, the higher this number goes, the
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higher the 10 year bond yield goes, the lower that's downward
6:39
pressure on silver and gold. So we're at Max downward
6:42
pressure right now. Let's go all the way back here
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almost 20 years ago was the last time that we had higher interest
6:50
rates and now things are different guys, things are
6:53
different when we talk about these high interest rates the
6:56
banks cannot absorb. We had a banking crisis a year
7:00
ago and rates were actually a little bit lower, OK, the
7:04
corporations can't absorb these higher interest rates.
7:08
It's going to kill their profits.
7:10
Commercial real estate can't endure these higher interest
7:13
rates. Residential real estate cannot
7:16
endure these higher interest rates.
7:18
Like, oh, we forgot about somebody.
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Our old friends at the at the Treasury Department, they can't
7:24
endure these higher interest rates either.
7:27
And you know, again, right when this number comes back down and
7:33
it's going to have to, otherwise the system could implode, that
7:37
will actually be a very supportive environment for the
7:40
silver price and gold price. But as we've talked about ad
7:43
nauseam many, many times, hey, the Fed is in a horrible,
7:49
horrible, horrible situation. OK, strong.
7:53
This is what I wrote in all caps on my notes.
7:55
I have this for you. So I want you to I want you to
7:59
smile when you hear this. I haven't smiled yet today.
8:02
Let's all smile one time. It doesn't hurt, right?
8:05
Strong in the face of adversity. That's what.
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Silver and gold, it's unbelievable.
8:11
Nobody understands. Nobody.
8:13
All the top smart analysts like we don't know.
8:16
You know, gold and silver should be much, much lower than they
8:20
are now. We don't want that.
8:21
I'm not calling for that. However, nobody can really pin
8:25
down like how is this happening? Gold.
8:28
And so I can tell you how it's happening because the world, Do
8:31
you think maybe the world's waking up to the fact that the
8:33
dollar is toast right Strong in the face of adversity.
8:38
Let's go, let's have some fun with silver real quickly.
8:42
I got something great for us to look at here.
8:44
You're going to love this. I think this is the best cup and
8:48
handle chart that I've seen. I want to give credit.
8:53
This came from a tweet from Stakshamam.
8:56
Shamam. Shakshamam.
8:57
Anyway, this is a long term silver chart.
9:00
Do you see this? Do you see the cup?
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See the big cup, See the big handle?
9:05
All right. Going all the way back to 1980,
9:08
right. Peak 50, all the way to 2011,
9:12
peak 50. And here we are right now.
9:15
Now some in all fairness, some analysts are saying that we that
9:19
for some reason, and these are the techie techie people, the
9:22
cup and handle formation has been negated in silver.
9:25
But none the less there are a lot of people who are still
9:28
cheering it on and I think I got a super chat from Ron McAdams.
9:33
Susie just texted me from her secret remote location.
9:38
But this is one of the most powerful chart patterns in the
9:41
history of the planet. Guys.
9:43
If we get silver to break out above this 3233 range and it
9:48
runs back up and then it goes up here, that's when we get to
9:53
triple digit silver. What about China?
9:55
Do you think China's buying all the world's gold and silver?
10:00
That's what a lot of these top insiders are saying, right?
10:04
Andrew McGuire, Michael, a lot of these, I don't want to put
10:08
words in anyone's mouth, but everybody, if there is a
10:10
consensus, there's this consensus that China, right, the
10:15
West is selling gold and silver and China is buying.
10:19
Let's just do an update. What do you think silver cost in
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China right now? Well, I've got answers for you
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from our good friend the Oriental Ghost on X right here
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is the most up to date China Shanghai Gold Exchange and
10:36
Shanghai Future Exchange Daily Report.
10:38
That's April 16th. Is that the most recent hold on?
10:42
I guess it is, yes. Yeah.
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So that would have been their closing apparently early this
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morning. We've got silver at April 17th.
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OK. There it is right there.
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Sorry, this is silver AG. OK, that's the periodic name for
10:58
silver, right? OK, And it closed in U.S.
11:01
dollars at $31.64. What about gold, you might be
11:06
asking? Well, it closed at 2400.
11:11
Does that make sense? 2401, two 3.88, let's just say
11:16
2412 on that one. On the futures exchange right
11:21
now, that's that's Shanghai Gold Exchange and the Shanghai
11:24
Futures Exchange Silver 3172 Gold $2437.53 looks like their
11:33
vault. There's their vault data going
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down there. You can go out and check that
11:36
out for yourself. But what does that tell us?
11:37
We know, I know, I'll say it. I'll say it a million more
11:41
times. The Shanghai Gold Exchange and
11:43
the Shanghai Futures Exchange. There's one big, major
11:46
difference between the Comex in the LBMA, right?
11:50
There's one big difference. Those are much more physical
11:54
markets like the inverse, like here in the United States.
11:58
Here, let's go up here. I think there's some data we can
12:00
look at here. This is from Michael Silver.
12:03
Squeeze right says right here, right COMEX silver open interest
12:09
is now equal to 303% of all vaulted silver and 1884%.
12:17
So that would be 18 times of registered.
12:21
That's the number right there that you need to look at
12:24
46,000,000 ounces of registered silver and right there warranted
12:28
metal for future deliveries. The registered is the metal held
12:32
by the Comex that they can actually use to satisfy the
12:37
contracts. Eligible means that it's not
12:40
eligible, basically, which they should call it, not eligible to
12:44
be used for delivery on contracts.
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That's my understanding. So that's what's going on. 18
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times. OK, 18 times crazy.
12:53
Absolutely crazy. All right, let's come back here.
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548 basement dwellers. Thank you.
13:00
Thank you for being here again. We're going to have Daniel Diaz
13:03
joining us here in a few minutes.
13:06
Citizens for Sound Money with a major update.
13:09
OK, A major update on what is going on right now in the silver
13:14
and gold. We're going to talk about
13:15
$10,000 gold. OK, We're going to talk about
13:19
the gold standard and we're I'm going to lay out for you.
13:22
I you may hate me. You may say, oh, your titles are
13:25
clickbait. Your thumbnails, whatever.
13:27
Quit. I don't care.
13:29
That's me. That's my opinion.
13:31
I think. I think 2 things.
13:33
I think the world is heading back to the gold and silver
13:36
standard. Or it could likely happen.
13:38
I think the world never ever really completely went off the
13:43
gold and silver standard. Maybe Don Exter's my long lost
13:46
grandpa or something, I don't know.
13:48
But I do think that we could see astronomically higher prices for
13:52
gold and silver. And what's so bad about that?
13:55
Hey, we got $2400 roughly gold right now, 10,000 is roughly 4
14:00
times it was OK for Bitcoin. It was OK for Bitcoin to go from
14:06
4000 to 16,000, right? Why is it not OK for gold to go
14:12
up four times in value? I think about it.
14:15
I want you. What about silver, right?
14:18
You know, I think we could easily see something like $100
14:23
silver in our future, but I see Daniel Diaz showing up right
14:27
now. Guys, I'm going to warn you,
14:29
I've been having horrible technical problems with audio,
14:32
so bear with me here. Hopefully I have it figured out.
14:34
I have bought a new microphone. I'm going to trade in my old $25
14:38
microphone here and a new computer for doing the live
14:41
streams. But let's get Daniel Diaz on and
14:44
see what is going on in the world.
14:48
Daniel, can you hear me? Yes, Ron, how you doing?
14:51
Welcome basement dwellers. How you doing?
14:55
Isn't that awesome? The first thing out of Daniel's
14:57
mouth is to say hello to the basement dwellers.
15:00
And you know what, Daniel? That that shows me the type
15:04
person you are, because I know what you're doing right now and
15:07
I believe you're in Jefferson City is for is for the benefit
15:11
of basement dwellers, not only in Missouri but throughout the
15:15
entire United States. I was just going through a big,
15:19
a big ramble about how I think that that that the world has
15:23
never really gone off the gold and silver standard, that this
15:26
has been a temporary mirage. The gold and silver are coming
15:29
back and now with the hard work of people like you on a state by
15:34
state basis. I was thinking this morning when
15:36
I got out of the shower, I was like, if all the states
15:40
recognize gold and silver is legal tender, all right, you
15:44
know, and it's and they're dropping now or joining 1 by 1,
15:48
couldn't we by default to a certain degree go back on the
15:50
gold and silver standard in the United States?
15:53
Absolutely. You know, the reason why we're
15:55
targeting the states is because our, our late founder, Jim
15:58
Forsyth and myself don't believe that we can change the federal
16:01
government. We think that Congress is too
16:04
corrupted and in the pocket of bankers and large monopolies
16:10
owned by some of the large corporations that take advantage
16:13
of the Canalon effect. For those in your audience that
16:17
don't know what the Catalan effect, it means that when the
16:19
current the Fiat currency is printed, those who use it first
16:23
get the full purchasing power. As that brand new currency is
16:27
used and goes down into the economy, it gets inflated and we
16:31
at the bottom who receive it receive less of a purchasing
16:35
power than those who received it first.
16:37
So by going state to state, we're actually the only country
16:42
in the world that constitutionally allows our
16:45
states or provinces to make gold and silver legal tender.
16:49
There's not a single country in the world that has that.
16:51
We're the only ones which makes United States unique.
16:54
You know Article one, Section 10, Clause One gives the state's
16:57
authority to to make gold and silver coin legal tender for the
17:02
payment of debts. And there are Supreme Court
17:05
cases, I think it's Briscoe versus the Bank of Kentucky.
17:10
And I think 1832 that actually gave the states the authority to
17:16
make privately minted currencies legal tender that are backed by
17:22
gold and silver, which is why we're trying to do the
17:24
electronic transfer and so forth.
17:26
But ultimately, if 26 states make gold and silver
17:31
transactional and legal tender, that's more than half the
17:34
country. And if half the country, then
17:37
the citizens are using gold and silver as their economy versus
17:40
the Federal Reserve System. I mean, that's going to make
17:43
some waves and and ripples and especially if those states start
17:48
transferring for goods and services and and so forth with
17:52
gold and silver versus the dollar.
17:54
I mean it's like a de facto getting rid of the Fed without
17:57
actually getting rid of the Fed. So we're just it's enabling
18:00
legislation allowing residents and citizens of the United
18:04
States to use and and give them an option to go back to what has
18:08
traditionally worked in human history of gold and silver
18:11
standard. You know, as you were, as you
18:13
were saying that, something came to my mind you'd I've never
18:16
thought about that, right. If we get 26 states that have
18:19
legal tender legislation, we have a majority of the States.
18:22
And then it becomes almost like a the other 24 states as these
18:27
maybe see the benefits that the 26 states are accruing because
18:32
of it and because of the increased commerce and because
18:35
of the ability of their citizens to protect their wealth.
18:40
You know actually you know the money that they work for they're
18:43
able to store it and and not lose out to inflation that those
18:48
other 24 states would be by default kind of almost forced to
18:53
join into and to and to accommodate new legal tender
18:57
legislation. But what got me thinking Daniel,
19:00
it's very interesting is aren't we seeing this on a worldwide
19:04
basis now as well If we zoom out and we look at what's going on
19:07
with the BRICS countries, we we could go on for hours about
19:10
this. But that the majority of the
19:12
world begins to not recognize I would say re recognize or or or
19:19
increase their level of importance or however you want
19:25
to say that gold and silver are becoming so much more important
19:28
that that could that that could happen on a worldwide basis as
19:32
well. Yeah, no, absolutely.
19:34
I mean we see the first country in the world to go back to a
19:37
semi gold standard which is Zimbabwe with the new Zimbabwe
19:41
dollar, a Zig, you know and I think three or four days ago the
19:45
the head of the Central Bank of Zimbabwe is worried, I get this,
19:49
he's worried that it's gonna create a deflationary event
19:53
because it's strengthening against the dollar.
19:57
You know, I mean that that's just perfect, right?
19:59
They've had inflation at 250% for who knows how long and now
20:03
they're worried that their currency is too strong.
20:05
I think it's a it's a testament to the strength of the gold as a
20:08
currency. Wait wait wait a minute.
20:10
Daniel, what are you talking about You mean that that people
20:13
could actually work and earn money and the value of their
20:17
money actually prices go down so the value of their money in real
20:21
terms actually goes up. That that's that's yeah, I know
20:24
I I was talking to my dad the other day there was he was over
20:27
on Sunday and we were having a little barbecue and and I was
20:31
like I was like you know, like everybody just and my my mom and
20:35
dad are wonderful people average Americans exceptional average
20:38
Americans. But but I was like everybody
20:40
just accepts the fact that their money goes down in value.
20:44
I was talking to him. He was an an enlisted man chief
20:46
master Sergeant United States Air Force Missouri Air National
20:50
Guard when he retired. And I said, you know back in
20:53
1970 when I was born Dad, you know you weren't you were a you
20:57
were a middle. You weren't even you were still
20:59
a lower rank. You weren't making that much
21:00
money. We had a nice little house in a
21:02
nice neighborhood. I went to a private Catholic
21:05
grade school. We had two cars.
21:08
We went to Disney World. I'm like, can I want you to
21:11
think right now, dad, this the same equivalent guy who's maybe
21:15
30 years old right now who's at the same rank that you are in
21:20
the United States Air Air Force. Do you think on one income that
21:23
that guy can afford a nice house, send his kid to private
21:25
schools, two cars and go to Disney World?
21:28
He was like, no, I mean, they can't.
21:30
We we can't, right? Right.
21:33
No. And that is the beauty of us,
21:35
the United States being on a sound money economy.
21:38
For 195 years we used sound money, whether it was gold and
21:44
silver coin or currency backed by gold and silver.
21:50
That doesn't matter the ratio, but we were tied to gold for 195
21:55
years. We now have had a 53 year
21:58
experiment where the entire world and the first time in
22:02
human history is on a Fiat standard and it is.
22:07
It has failed miserably and has made the rich richer and has
22:11
made the poor poor, and it's diminishing the middle class
22:14
around the entire world that isn't country by country, the
22:16
entire planet because of this experiment of Fiat currency.
22:20
And it's we're getting to the point where I think the whole
22:24
House of Cards is about to tumble and collapse and I and
22:28
it's gonna lead back. As you said, the central banks
22:31
have always had gold in their on their on their books and they
22:34
use gold for international trade.
22:36
So if it's good enough for the central banks who are giving us
22:40
Fiat, it's good enough for the people.
22:42
Yeah, yeah, yeah. I I have the hardest time and
22:45
and I'm explaining what you just explained and that is and I I
22:50
like the way you said that it's been a temporary whatever 53
22:53
year experiment basically, right.
22:56
And I sometimes call it like a a monetary mirage or like the gold
23:00
and silver you know like extras pyramid, right.
23:02
Like the gold and silver, they're always there.
23:04
They've always been the base and we've had these temporary Fiat
23:09
experiments, right. But gold and silver or or
23:12
sometimes I use the analogy, it's like a hibernating bear,
23:15
right. It's been hibernating for 53
23:18
years. Not dead, right, but still
23:21
there, still powerful, but in hibernation.
23:24
And it feels like the bear is waking up from hibernation and
23:29
ready to, and is hungry and is ready to reclaim its rightful
23:33
place as the base of all real money.
23:36
Yeah, and it isn't just hibernation.
23:38
The bear's been trying to wake up, but the the big bands and
23:41
institutions have been slamming the bears down and I can't wait
23:45
till your little bears back there wake up and get the
23:47
blindfolds taken off so they can get a little ferocious out
23:50
there. Yeah, well, no, you know, you
23:51
bring up a great point. It's like for the last 50 years,
23:54
you know, nurse nurse Janet Yellen and Dr. Jerome Powell
23:58
have been showing up to the bears hibernation cave and
24:01
shooting him with more tranquilizers.
24:02
Like stay asleep for a little bit longer.
24:04
We don't want you to wake up yet, Right.
24:06
And. It's not working.
24:07
Those tranquilizers, he's immune to it and it, yeah, breaking
24:10
through, so. Eventually he gets so hungry.
24:13
So I forgot to introduce you, Daniel Diaz from Citizens for
24:16
Sound Money, right, right. Working, working across the
24:20
country to further legal tender. I mean that's what you're doing.
24:24
Any any updates on what's going on across the country in
24:27
Missouri? Anything top of mind that you
24:30
want to mention to our viewers? Yeah, our executive assistant
24:35
actually just updated all the status of all 24 states on our
24:40
website. So if your viewers want to see
24:43
what their state is doing and who submitted the bill, the bill
24:47
number go to Citizens. The number 4 sound money.org.
24:52
On the top menu you'll find legislative, I think initiative.
24:56
Click on that, click on Find your campaign, and then look for
25:00
your state. There's 24 states we've been
25:02
working in and we've identified every single one of them, the
25:05
status of every single one of them.
25:06
And if it's still alive in your state, go ahead And And there
25:09
you go. He's going to go show you how to
25:10
do that. So legislative.
25:12
OK, where do I go? Help me out here Daniel.
25:14
I wasn't. I was.
25:14
I was Googling, not listening. So go to where?
25:18
Legislative initiative. Find campaigns, Find campaigns.
25:23
And then you Scroll down and find your state.
25:27
Oh wow, I love this. I looked at this once before.
25:29
Can I read them off real quickly?
25:31
Sure. Absolutely.
25:33
Alabama, Alaska, Arizona, Arkansas, Florida, Georgia,
25:39
Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana,
25:45
Mississippi, Missouri, New Hampshire, New Jersey, Oklahoma,
25:49
South Carolina, Tennessee, Texas, Utah, West Virginia and
25:53
Wisconsin. And of course we see some of
25:56
these did die in committee, but that's part of the process,
25:59
right, Daniel? I mean, you got it.
26:02
You got to be on the ice to score a goal, right?
26:05
And and these these states are on the ice and just because it
26:10
didn't work out this year doesn't mean that next year or
26:14
maybe the year after that that it doesn't work out there as
26:17
well. Correct.
26:19
And some of these they're in green and this is still in
26:21
committee or for instance in New Jersey legislation filed if it
26:26
says it's lot filed or in committee and it hasn't moved
26:29
let's say in a a few weeks or months, it's dead.
26:33
It's just that it's technically alive, but in reality it's it's
26:37
actually a dead bill. So right now, the only state in
26:40
the union that has the most comprehensive legislation in the
26:43
country on sound money is Missouri.
26:46
And that's why I've been here for almost a month.
26:48
I'm gonna be here till the end of session or until the bill
26:51
dies. We have three bills, so I was
26:53
just informed by the chairman of the Financial Institutions
26:59
Committee that they passed HB. I'm sorry, SB 835.
27:04
So we got two bills in the House and we're gonna, we're gonna add
27:09
some amendments because the chairman changed those bills and
27:14
those bills now only provide tax break and I think I think it's
27:22
just legal tender and nothing else.
27:24
So we're going to try to add some things in the process there
27:28
or when it get before it gets to the floor, on the floor of the
27:31
House. And then there's still a bill in
27:32
the Senate here in Missouri, SP 735, we're waiting for it to
27:37
come up on the Senate floor. We don't know when that is.
27:40
Things have been a little hectic here in Missouri.
27:42
That's why I've been here so long waiting to figure out
27:44
what's happening. It is an interesting
27:46
legislature. I I will admit that it is the
27:48
most interesting legislature I've ever worked in.
27:51
So let your let the basement dwellers figure out what that
27:54
means. Welcome.
27:55
Welcome to Missouri because it's, I think most of them know
27:58
I'm based in Saint Louis. And yeah, I've always heard
28:01
Jefferson City is a very, very interesting place.
28:05
So well Daniel, we we appreciate all your efforts that you're
28:10
that you're conducting not only here in Missouri but also
28:13
throughout the country. We went to the website up there,
28:16
right. Citizens for Sound Money.
28:19
If they want to learn more about you and your organization, I
28:23
want to I want to say this so everybody hears that I I asked
28:25
Daniel Daniel last night kind of told me what he's got on his
28:28
agenda for the next month. This guy is crazy busy working
28:32
for you, right? If you're a silver and gold
28:35
investor, you need to be very interested and in tune with
28:40
what's going on with this legal tender legislation because it's
28:44
right up your alley, right. It protects you.
28:47
And so on behalf of everyone out there, Daniel, I know I'm saying
28:51
this on behalf of all of our basement wash Thank you for all
28:54
your efforts. Absolutely.
28:55
Thank you for having me on. Yeah, thanks Daniel.
28:58
We'll see you soon, buddy. All right.
29:00
See you soon. Bye, bye.
29:03
All right, guys, there we have it.
29:05
Daniel Diaz, what a guy working hard for us, like I just said.
29:09
Now let's talk about, let's talk about $10,000 gold.
29:14
OK, 20,030. Can we get 40?
29:19
Who knows? I've heard.
29:20
I've actually heard numbers as high as 57,000, some people
29:23
saying hundreds of thousands, but we're going to talk about
29:25
that. I do want to mention just the
29:27
strangeness that's going on in the markets right now.
29:31
Really strange behavior that means that could, that could
29:36
mean we're near a breaking point, right?
29:37
Andrew McGuire, I heard him say this like 3 weeks ago, he said
29:41
it may not be years and years until the Comex breaks.
29:45
It could be months and Andrew McGuire has his finger on the
29:48
pulse of what's going on in these electronic markets like
29:51
nobody else out there. OK, he was the guy that before
29:55
any Back in February, I heard him talking about how how the
29:58
Indian, the country of India was buying massive amounts of
30:02
silver. And I didn't pay that much
30:04
attention to it until a few weeks later we get this news
30:08
that in February, India imported 70 million ounces of silver.
30:13
So I'll listen to Andrew McGuire, and I know he's highly
30:16
respected. He has the weekly show live from
30:20
the vault. It's always great.
30:21
It's always insightful and you can check that out on a weekly
30:25
basis if you want. But look, here is, is this a
30:27
sign? Is I ask you a question?
30:30
Is this a sign? Hold on a second.
30:33
Are we having technical problems?
30:35
Hello. Hello.
30:36
Let me know if you guys can see me and hear me.
30:39
Hopefully you can. Is this a sign that right now
30:43
we've got big, big, big things on the horizon?
30:48
It doesn't make sense. What's going on between the
30:50
silver market yesterday, silver down $0.75, gold up a hair,
30:55
mining stocks down. Everybody's very confused.
30:59
OK, is gold spiking on geopolitics?
31:02
Partially, yes. We can say that's probably part
31:04
of what's going on. But the mining stocks aren't
31:07
believing it. If you're invested in gold and
31:09
silver mining stocks like I am, they have yet to catch up to the
31:14
massive increase in the gold price.
31:16
The relationship, there's a big gap where the mining stocks
31:19
still need to go up quite a bit. This could mean the gold drops.
31:23
OK, I don't want to. Don't shoot me.
31:24
All right, we're going to talk about 10 thousand $20,000 gold.
31:28
But gold could drop. Silver could drop, right?
31:31
To come down to where the miners are.
31:33
Or it me could mean what if gold and silver continue upward?
31:38
We like that, don't we? In the mining stocks have to
31:42
play ketchup, right? Ketchup.
31:44
Not ketchup and mustard. Ketchup like ketchup in price.
31:48
Slingshot type move. That could be what's going on.
31:51
But why silver down? Could it be economic worries?
31:55
Who knows? Manipulation.
31:57
Who knows, right? Gold.
31:58
The silver ratio is still a crazy high levels and when we
32:03
think about manipulation, I want to read this to you guys one
32:06
more time because this just blew me away.
32:09
Hold on here. Let's just reiterate for those
32:12
of you who didn't see this, but those of you who did.
32:16
We need to pay attention to this because this explains a lot to
32:19
us. This was a a memo that was that
32:23
was written back right before they started the electronic
32:26
exchanges on the LBMA, the London Million Market
32:29
Association in the Comex here in the United States and the up
32:33
right here, the top line, the major impact of private, private
32:37
US ownership, limited official use.
32:40
OK, this is now no longer top secret information, so we're
32:46
able to read it. But OK, this talks about why
32:50
they set up these electronic exchanges and it gives absolute
32:53
proof that it was done to manipulate the price to the
32:58
dealer's expectations. These were the dealers in
33:01
London, I believe the big dealers on the London LBMA.
33:04
The London Billion Market Association will be the
33:07
formation of a sizable gold futures market.
33:11
That means it will be big. The electronic paper market will
33:15
be huge. Each of these dealers expressed
33:18
the belief that the futures market would be of significant
33:22
proportion. That means it would be much
33:24
bigger than the physical market. OK, guys, that's why we hear
33:28
about this leverage, right? 20 * 40, I don't know.
33:31
There's all kinds of numbers, but all we do know is that
33:33
there's a lot more paper silver and a lot more paper gold traded
33:39
than the physical market, than the physical metal that backs
33:42
it. Like we showed earlier, the
33:44
registered inventory at the COMEX, right.
33:47
OK. And that's what they said, that
33:49
the futures market would be a significant proportion and
33:53
physical trading would be minuscule by comparison.
33:58
All right. We also know that the Shanghai
34:00
Gold Exchange in the Shanghai Futures Exchange is much more
34:03
physical, but let's go on underlined in red.
34:07
Also expressed was the expectation that large volume
34:13
futures dealing would create so big volume.
34:17
Right Big paper make believe Unicorn farta silver and gold
34:21
dealing would create a highly volatile market.
34:26
Oh, why would they want to make it?
34:28
Why? Why would they have an interest
34:31
in making the silver and gold market volatile?
34:33
Are they up to something you may be asking yourself?
34:37
Well, we get the answer here because in turn, comma, the
34:41
volatile price movements would diminish, diminish the initial
34:46
demand for physical holding. It would discourage Americans
34:51
from holding physical gold and silver and most likely negate
34:57
long term hoarding by U.S. citizens.
35:00
Yes. OK, that's the fact, Jack.
35:03
That's what they did. There's proof.
35:05
Proof in the pudding. OK.
35:07
Oh, somebody gave us a super chat.
35:09
Sorry if I'm missing super chats.
35:11
Oh, shoot, wrong one. Sorry, Raven.
35:13
Hold on. Bear with me, everybody.
35:15
I'm going to try to get this super chat up there.
35:20
Oh, shoot, there it is. Casas Potomias.
35:23
Thank you for the Super chat. OK, but $10,000 gold, right?
35:28
OK, I've been around mining stocks for a long time and one
35:31
thing different this time is the run up.
35:33
This is for you mining stock investors that the run up we've
35:37
had in the last like what, 6-8 weeks has stabilized like
35:41
nothing I've seen since we had the C19 run up back in.
35:44
What was that, 2021 old Albert Eisenhower.
35:49
I had this plumber who worked for me years back and he would
35:52
always like to make fun of me. Instead of calling me Albert
35:54
Einstein, you would call me Albert Eisenhower.
35:57
I was, quote UN quote, helping him remodel one of my bathrooms.
36:00
Would say we're either going to go up or down from here.
36:04
But this feels different. It feels different from the
36:08
perspective of the mining stocks.
36:10
It Do you feel it? Basement dwellers.
36:13
It feels different from the perspective of the price
36:16
activity that's going on, the price action between silver,
36:20
between gold and their relationship with the mining
36:23
stocks. Something is big is going on,
36:26
OK. And we could like we showed
36:28
earlier, right on that chart of the 10 year bond yield, that
36:31
chart of the DXY from O2 to 2012, guess what, Guess what, I
36:37
got news for you. Big news, right.
36:40
I'm going to beat it into your head.
36:41
I know my Mama. My Mama, She's sad, a hard head,
36:45
whatever that means. Then when I was in college, you
36:48
know what they called me? Big head Ron.
36:50
This guy, Kenny Kagunga Lunga made-up his nickname and it
36:53
stuck with me none the less. OK, we got to get it through our
36:56
big hard heads, basement dwellers that we can smile.
37:00
We could be in for a five year, 10 year bull market in silver
37:06
and gold. Hey guys, look, the reality is
37:09
this. I got news for you.
37:10
The reality is quite simple. The situation now is very
37:14
similar to what we faced back in the 1970s, but but the situation
37:19
now is even more exaggerated. We got more debt, we got more
37:23
trouble. Any any angle you look at it
37:25
comparing now to the 70s, monetary policy, fiscal policy,
37:29
geopolitics, social issues, political, the loose goes on and
37:33
on. And I would say they're all at
37:35
least factors of two to three to four times worse.
37:38
So maybe we can see a rally, right?
37:41
A long term bull market in the silver and gold markets that's
37:45
two or three or four times more powerful than what we saw in the
37:48
70s. And we saw silver go from like
37:51
$1.50 to $50.00. I don't even want to do that
37:54
math. We're talking about like I've
37:57
heard big swear and other smart people talk about $600.00
38:00
silver. Why not?
38:02
Why not? Right.
38:03
Susie gets mad at me when I put up my thumbnails. $10,000 gold.
38:07
How about $20,000 gold? I love you, Susie.
38:10
And I know, right? Yeah, I know.
38:12
Those numbers seem crazy. They seem crazy to me.
38:15
But they're not crazy. They're absolutely not crazy.
38:19
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39:31
fortunasilver.com. Now let's talk about the moment
39:35
you've been waiting for. OK, $10,000 gold price.
39:38
That's a concern. I'm going to read you what I
39:40
wrote, OK, this is so important. That's a conservative estimate.
39:44
We've heard of the 40, the 40,000 pronouns.
39:47
Daniel Diaz and I were just talking about this.
39:49
And how does this happen? It happens with the gold
39:52
standard. But you've got to believe
39:54
something that I believe in. I believe that the world has
39:58
never gone off the gold standard.
40:01
I'm sorry. Right.
40:02
A temporary aberration, a temporary experiment.
40:06
This, Daniel Diaz called it right the last 53 years.
40:09
This Fiat make believe Unicorn fart dust, whatever you want to
40:13
call it. Money printing, Fiat debt.
40:16
I almost used the O word debt bonanza.
40:22
I almost used anyway debt bonanza.
40:26
It's been an experiment. Guess what Gold and silver had
40:29
been there all along and what hard evidence do we have?
40:32
OK. What hard evidence do we have?
40:35
I want to show you one, just one piece of evidence that I think
40:38
shows this is from our friend Sean.
40:40
OK, This is from our friend Sean and from our favorite new
40:44
favorite website, Vo. Ron.
40:47
Oy, well, Ron, oy, they they put my name right in the middle of
40:51
it anyway. Global gold market
40:53
capitalization. What does this show?
40:55
Global. It's a it's a big world.
40:58
It's not just the United States. You know the Americans, they can
41:02
think that like the whole world is the, you know, it's there's a
41:05
whole big world. There's Africa, there's Europe,
41:08
there's South America. Global gold, global gold market
41:13
capitalization to GDP ratio. Look at this guy's, look at this
41:18
1990, OK, around 6%. The year 2000 around, oh, 4%,
41:25
OK, 2012, right. We got up to 12%.
41:30
But look at this chart, OK. The global gold market cap as a
41:36
percentage of GDP is going up and up and up.
41:41
I think this is evidence in what I believe and that the world is
41:46
moving back to like it or not, right, a standard where gold and
41:52
silver real assets are the basis of real value and that will be
41:57
reflected in this is the good news guys, OK.
42:01
Higher gold and silver prices as measured, OK, remember, right,
42:07
it's as measured in Fiat dollars, Fiat, EUR, Fiat yen.
42:13
However you want to look at it, OK.
42:16
I think it's a very interesting scenario that's unfolding right
42:20
before our very eyes right now. It could lead, right.
42:24
It could lead to a 10,000, a 20, think about this, think about
42:28
this. OK, that's looking at world GDP.
42:31
We know that the world gold market capitalization sits
42:36
around 1615 trillion U.S. dollars right now that's talking
42:41
about GDP. What if we compare that market
42:44
cap 15 trillion to the $300 trillion in world debt?
42:51
That's the amount of debt that's estimated to be in the whole
42:54
world. Ray Dalio said it himself.
42:56
There ain't no way everybody's getting paid back, OK.
43:00
And when we look at it from that perspective, OK, And we look at
43:03
that the gold, global gold market cap is equal to like 5%
43:09
of the entire world that we're living.
43:12
We're living in a fantasy world. Nothing adds up, nothing makes
43:17
sense to to us. It makes sense to back our our
43:21
wealth. To back our well-being, To back
43:23
our safety and security with real assets.
43:26
Things like silver and gold. OK.
43:31
This temporary aberration, this temporary monetary experiment
43:35
that the US forced upon the world.
43:37
President Nixon, I remember it clearly. 1971.
43:41
I was one year old. He came on the TV.
43:43
You were mad. I was mad.
43:45
Maybe you were you alive in 1971?
43:47
I was. I was an angry child.
43:50
My parents didn't know what was wrong with me from about the age
43:53
1 to 4. But then they made it legal for
43:55
Americans. And did you know that?
43:57
I think it was 1974. That was a good day.
44:00
He was President Ford made it legal for Americans to own gold
44:03
and silver. I chilled out a little bit,
44:05
right? Started behaving myself at
44:07
preschool. But none the less this has been
44:09
an aberration. You know, the Fiat system kind
44:15
of won for a while. The paper money system kind of
44:17
won and and and maybe this isn't.
44:20
Maybe you're going to roast me for this analogy, but I think
44:23
it's important to remember that it's temporary, right?
44:27
It's kind of like if you go to a casino and I'm I used to gamble
44:30
a lot, long time ago, 20 maybe I was, could have been considered
44:33
a professional gambler. I love to play this game called
44:36
Craps, which has really generally the best odds in the
44:39
casino. But you know what?
44:40
Even though it's the best odds in the casino, they still have
44:44
an advantage over you. And in the end they're going to
44:47
take all your money, right? Or a lot of it, until you wise
44:50
up and stop playing. Trust me, I have personal
44:53
experience with that and I don't gamble anymore, but none the
44:57
less because I'd rather invest in smart things like silver,
45:00
gold, precious metal, mining stocks.
45:02
Sometimes when you're at the casino, you're winning, right?
45:06
Even though the laws of mathematics are against you, you
45:10
win, right? And it's enticing.
45:12
Trust me, I had some big, big wins at the crash table.
45:15
You wouldn't believe me if I told you how much, right?
45:18
Also, I had some big, big losses.
45:20
You wouldn't believe me if I told you how much there as well.
45:22
But sometimes you temporarily win.
45:24
Sometimes you can temporarily beat the laws of mathematics.
45:28
And that's what exactly has happened over the last 50 years.
45:32
OK? the United States was
45:34
temporarily a lot of smoke and mirrors.
45:37
How many times do we have to talk about this, right?
45:40
Temporarily able to beat the laws of mathematics.
45:42
Oh, we can just print infinite money and we get richer.
45:46
It doesn't work that way. Eisenhower.
45:48
It's a. Hold on a second.
45:51
I'm mad. There he is.
45:55
It doesn't work that way. Everybody yell that.
45:58
Adam, you can't just print money, OK?
46:01
It doesn't work that way. It's temporary.
46:05
The world's going back to gold and silver.
46:08
Yes and yes. We could see 10,000.
46:11
We could see, we could see. Talk to somebody in Venezuela.
46:16
I, you know, where I work at night, my my job, my little big
46:19
job, There's a Venezuelan cleaning crew.
46:22
I talk to them the best I can. We have a little bit of a
46:24
language gap. Mama comes with her son and
46:27
daughter-in-law. She's like 78 years old, still
46:30
works. They came here from Venezuela.
46:32
I asked her silver and gold. She's like, Oh yeah, you know
46:35
it. Guys, ask somebody from Turkey.
46:38
Ask somebody from that Japan lately.
46:40
I think their yen's going. I mean, the price of gold and
46:43
silver can absolutely skyrocket. The Fed's in big, big trouble.
46:50
The Fed's in big trouble, right? They need to cut rates and they
46:53
also need to raise rates. the Fed is done.
46:56
The dollar is going to nothing. I'm hearing some people say some
47:00
big billionaire announced that the other day that he thinks
47:03
like in the next 10 years, the dollars go into nothing.
47:06
So if he said it, I can say it. I don't want to get in trouble.
47:09
I don't think it's going to happen immediately.
47:11
But can the dollar go to nothing?
47:13
It can. It's the guys.
47:15
Look at this. Let me remind you, if you don't
47:17
have one of these, I'd highly recommend you get one for
47:20
collector purposes. This is a $1.00 United States
47:24
bill. You don't want to, you don't
47:25
want to hold any more than that. This is nothing.
47:29
Look, woo, OK, It can go to nothing.
47:33
All right? Who cares about the DXY index?
47:37
Who cares? OK?
47:38
Now if you want to get your hands on some silver, gold or
47:40
platinum before before, potentially you see a a downturn
47:48
in the US dollar and a respected or a reflective increase in the
47:54
US dollar Fiat value of silver and gold.
47:57
If you're going to go buy some silver, gold online, I'd highly
48:00
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48:04
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48:08
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48:11
And what I always find and I learned about Pinbex from one of
48:14
you, What I always find with Pinbex is they've got the best
48:18
prices. The package comes wrapped up
48:21
like Fort Knox. It's actually like, you know, I
48:24
have to get several different utility knives out to get it
48:28
open, which is good, right? You don't want your silver or
48:31
gold bouncing around. They've got always have what I
48:35
want, whether it's bars, coins, whatever, OK.
48:39
And the and I can trust them. That's paramount, right?
48:42
You got to trust who you're buying your metals from.
48:45
Read what other people say. Don't just listen to me.
48:48
Read what other people say and then find out for yourself.
48:52
Shop around and see if you can get, you know, the same product
48:57
from Pinbex that maybe another online bullion dealers charging
49:00
a little more for. Because when you're stacking
49:02
silver or gold, you want to get the most metal for your money.
49:07
OK. Thank you, Pinbex for sponsoring
49:11
Ron's Basement. You know, let's just end with
49:15
this, the DXY Index. Don't worry about it.
49:19
We're comparing the US dollar to the euro in the Japanese yen.
49:24
Guys, Japan, I'm going to tell you, this is a little secret.
49:28
Nobody talks about Japan. Remember back in the 80s?
49:32
You do, are you right. Remember in the 80s there was
49:34
like this massive. I mean, I remember being a kid,
49:37
My dad bought a Japanese car and they would say derogatory
49:41
things. They would call it a rice
49:42
burner. My dad bought one of the first
49:44
Hondas in Saint Louis. I love Honda Still this day, but
49:47
none the less, right? Remember everybody, every,
49:50
every. Oh, Japan's taking over the
49:51
world. These Japanese, they're buying
49:54
Times Square and they're all the Japanese are going to.
49:57
They're horrible. They're kind of like what we get
50:00
fed now about China. Why is it why is there always
50:03
somebody they're trying to keep us afraid of?
50:04
But none the less, Japan is a basket case.
50:08
Baby, we don't hear about this. Look at the price of gold and
50:11
Japanese yen. Let's go out and take a look.
50:13
All right, The yen has crashed and I want to go check this out.
50:16
Let's. I'm scared, but we're going to
50:19
go to pin backs and get an update.
50:21
Please be up. All right.
50:22
Hey, silver's up $0.50 gold is $2386 per oz.
50:30
Let that sink in for a little bit.
50:33
OK, silver 2862 guys, let's all smile because you know what if
50:40
we if we had told if we had told us if.
50:43
I don't know if we'd known this two months ago, right?
50:51
If we had known this back in December when I was wanting to
50:54
like throw a a a party because we got the $2100 gold for like 2
50:59
minutes on a Sunday night, right when we had silver at $22.00 per
51:03
oz. If we can stay above 28 an ounce
51:07
and silver, we're going to have good times ahead.
51:10
Hold on a second here. Let's go out here.
51:13
Citizens for sound money. Don't forget, check that out.
51:15
Let's go to. We better go to Google.
51:19
And then we're going to do real quickly.
51:21
Let's just look. All right.
51:22
This will tell us what could happen in U.S. dollars, Gold and
51:26
yen. Gold and yen chart generating.
51:35
OK, let's take a look. Now this is what you get in
51:38
Ron's basement. Here we go.
51:39
Why? Charts, gold price and Japanese
51:41
yen. See if this one works.
51:46
Oh, look at that. OK, that's one year.
51:50
One year the gold price was 26265 thousand.
51:59
Let's look at 3 here, three here.
52:05
Wow. OK, I can't read these numbers.
52:09
36,000. I mean, it's crazy.
52:12
What is going on in the in the world gold markets right now?
52:17
Did I forget to pull that up? Oh, shoot.
52:19
Hold on guys. I'm surprised you're still with
52:22
me here. I don't think you saw it.
52:24
There it is right there. That's Japan.
52:26
That's gold priced in Japanese yen.
52:29
OK, sorry about that. Just absolutely look at that.
52:33
I mean, this is wow. I mean, that's like up 20%.
52:39
And a lot of this has to do with the yen going down in value.
52:43
But you know, in real value, the yen, the euro and the dollar are
52:48
going down. There's mathematically no other
52:51
way this can work out. Hey, guys, thank you for joining
52:54
me today. I should be back tomorrow.
52:56
Have a great day. All right.
52:58
And I'll see you soon.