Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **ALERT** SILVER Just had a MASSIVE Change... $37 🚨 (Gold Price Too)
Transcript
- 0:01Silver on the verge of an epic breakout.
- 0:04One for the record books. We're going to look in this
- 0:06video if the reasons why I believe and I'll be curious to
- 0:10hear what you think that that is the case.
- 0:13Also interestingly, are we setting up for another Hunt
- 0:17Brothers situation? Remember what happened last time
- 0:21some big billionaires tried to buy all the world silver?
- 0:24We're going to dive into that as well.
- 0:25And of course, we'll touch on gold.
- 0:27Haven't been talking a lot about gold lately, but we know the
- 0:30gold price hovers around $3300. It's in a bit of a period of
- 0:35consolidation right now, but we also know that the gold price
- 0:39will be heading hold holder older, higher in the months,
- 0:44quarters and years to come. Most importantly, guys, we got a
- 0:47lot to cover in this video, but the first thing we need to talk
- 0:51about is you. Thank you for being here.
- 0:53You are the most important part of Ron's basement.
- 0:56Please give this video a thumbs up.
- 0:58Subscribe to the channel. Both of those are free and we
- 1:01want to see you back here in the basement.
- 1:03Hope you feel like you found a little home away from home, a
- 1:06little respite from the crazy world out there because what
- 1:09we've got going on right now in the precious metals markets is
- 1:12exciting, in particular with silver.
- 1:15Let's go out and get a quick update on the silver price and
- 1:19gold price as we speak. So golds UPS in the spot market
- 1:23at $3331.00 per oz. Silver, right, knocking on the
- 1:28door of $37. And we're going to talk about
- 1:31why that is so important because when we go to Tim Hack on
- 1:38Twitter, he points out that there's a silver bull flag that
- 1:42was breached and has now been tested again.
- 1:45I expect a decisive upward push. Let's pull this up and make it a
- 1:49little bit bigger for us to look at.
- 1:53There we go. OK guys, this is one month I'm
- 1:55going to draw on here for you. This down here is right about
- 1:59one month ago. So this time period represents
- 2:03one month. What we see, what they're
- 2:05referring to is a bull flag is this channel that you can see
- 2:10here. It's a very reliable technical
- 2:13analysis tool. And as we know over the last
- 2:16month, you can look at the silver prices basically stayed
- 2:20in a range, consolidated a bit, but that's a that's the flag.
- 2:24This would be the pole. That's why they call it a, a
- 2:27flagpole chart pattern. But the interesting thing, and
- 2:32we'll do this in a different color, we'll use green because
- 2:35we are green today. As you can see, we have broken
- 2:39out of that pattern. The important thing here is this
- 2:43$3737.50 price in silver. Once we get above that, we are
- 2:50off to the races like most of us have never experienced before,
- 2:55OK? And I want to remind you guys,
- 2:57please don't forget, share this, give it a thumbs up, OK?
- 2:59But because we're going to be in for a wild, wild ride in silver,
- 3:03there just aren't any people between 38 dollars, $45, $50.00
- 3:10that want to sell silver. Everybody essentially is going
- 3:14to be in the money that the silver price only spent a tiny,
- 3:18tiny bit of time above 353738 dollars throughout the last 50
- 3:25years. So we're in for some fun times.
- 3:26But let's go to our next interesting point that we got
- 3:30from again, Mr. Hack. And I want to pull this up a
- 3:34little bit bigger for you. Hold on here.
- 3:38There we go. Thank you guys for staying with
- 3:41us here. Now let's let's make this a
- 3:43little bit bigger so it's easier for you to read.
- 3:48He pointed out something very interesting.
- 3:51He says, listen to this. It's a gut feeling, but I feel
- 3:55short sellers are less than an inch away from pressing the
- 3:59panic button. Those are the near record short
- 4:02positions that we have in the paper, right?
- 4:05The Comex and the LBMA, the London Bullion Market
- 4:08Association, right? That's that.
- 4:10Those are the short sellers. They watch the large time frames
- 4:14and wait till you see what's happening guys on the long term
- 4:17time frame. We're going to look at that
- 4:18chart next, closer than most do if we see short covering $100
- 4:25silver. Tim, you are no hack.
- 4:28We love what you're saying here is maybe less than four weeks
- 4:31away. Remember, remember the nickel
- 4:33short squeeze and interesting things are happening right now
- 4:37in the platinum market as well. Now let's go like I just
- 4:40promised, out to the longer time frame, the six month chart.
- 4:45This came from the Happy Hawaiian on June 30th, guys, we
- 4:48had the highest silver close on a six month basis in history.
- 4:55Excuse me. But what's even more important
- 4:58about that is what I spy on this chart, which is that we have
- 5:02broken out on a six month basis of a cup and handle pattern to
- 5:07see if I can get this to pull up better.
- 5:09OK, we'll look at it this way. Hold on here, there we go.
- 5:16OK, back to that, see if we can get OK.
- 5:22Now we'll use green because again we are green.
- 5:25So this over here right was the six month close these each one
- 5:30of these candles represents 16 month period.
- 5:34We had never closed this high going all the way back here to
- 5:371980 through 2011 cup and handle and on a six month basis, I'm
- 5:45saying we broke out OK. So again, this this this
- 5:49unbelievable situation that's unfolding in the silver market.
- 5:55Let's go out here to Yahoo Finance and look at the futures
- 5:57market on a five year basis. You can see how beautiful,
- 6:01absolutely beautiful this chart looks.
- 6:05But what we really want to look at again here is one year, guys,
- 6:09we were in this situation which which we just can't emphasize
- 6:16enough, where we had hit $35, hit $35 and then if we draw a
- 6:23rough line across there at $35, we are now in Guadala.
- 6:30We've broken out there as well. It just doesn't get old looking
- 6:34at it. And you know what?
- 6:36A trip. Talking about silver, One last
- 6:38thing for us to look at is going to be from our friend the
- 6:41Oriental ghost. Let's give him proper credit.
- 6:43He does this every day by Jajun or Jajun by gives us our numbers
- 6:48from the Chinese market. Remember this is the Shanghai
- 6:52Gold Exchange. And here what's always
- 6:55interesting for us to pay attention to is the price,
- 6:59right, $38.54 U.S. dollars per oz.
- 7:05That's AG silver. You can look at this for
- 7:07yourself, but what this shows us is that the price for silver
- 7:13when compared right, $38.54 when compared to what we're getting
- 7:19in the spot, spot market in the West, OK, which is $36, excuse
- 7:25me, and 79 cents, 3679, wow, almost $2.00 per oz higher in
- 7:34China and China is taking over the precious metals markets.
- 7:37We're going to get into that as well.
- 7:39But the big key take away here guys is let's get silver to 3750
- 7:44per oz. Then it is Katie bar the door.
- 7:48We'll then be looking for weekly closes and other and monthly
- 7:53closes and quarterly closes above that.
- 7:55But look, I don't know, can you see behind me?
- 7:57Where is it? There it is right there.
- 8:03Excuse me, allergies. Here in Saint Louis, we've got
- 8:06the $85 silver bear. We're going to take his
- 8:09blindfold off when we get the $85 silver.
- 8:12You may say that's crazy. Are you thinking that's crazy?
- 8:15Is Ron just a silver pumper? Well, don't forget, guys.
- 8:19See that bear right there? He spent almost two years with a
- 8:22$2500 gold price blindfold on. And we had a big party when we
- 8:27took that one off. I know that we'll be taking off
- 8:30the $85 silver bear blindfold sooner than we think.
- 8:34Will it take two years? We don't know.
- 8:36We're going to find out, but we're going to find out and
- 8:38we're going to do that together because there's a billionaire is
- 8:42this guy trying to trying to do what the Hunt brothers did not
- 8:44too long ago, A billionaire who's making massive under the
- 8:49kind of under the radar moves into the silver market.
- 8:52We will get to that next. But first, I do want to say
- 8:55thank you to 1st Mint. See their sign right there.
- 8:57First Mint here's their 5 oz bar.
- 9:00This is upstairs Susie's absolute favorite and I love it
- 9:05myself. OK First mint is a mint located
- 9:09in Las Vegas, NV, USA but they get their silver from First
- 9:15Majestic Silver. First majestic silver owns first
- 9:18Mint. First Majestic Silver is one of
- 9:20the world's larger silver miners.
- 9:22They mine silver in Mexico, ship it directly doesn't go to the
- 9:27Comex or the LBMA or anyone else, right?
- 9:30It goes from the mine site in Mexico directly to Las Vegas, NV
- 9:35where it's where it's minted into world class silver bullion
- 9:40products, all unique products. OK, this is literally silver,
- 9:44the freshest silver on the market, right, organic, right
- 9:48out of the ground, hard work by the miners in Mexico, shipped to
- 9:51the United States, made in America and then it goes
- 9:55directly to you. Let's run out and take a look at
- 9:57their website. I just want to show you where
- 9:59you can check this out for yourself.
- 10:02Here we are at firstment.com. And let's go back to the main
- 10:08page. OK, wow, dollar off, limited
- 10:12time offer. That's my favorite.
- 10:14By the way, this is their Buffalo round with that Indian
- 10:20on the background. You know what?
- 10:21I'm going to get it out and show it to you here in one second.
- 10:23But these are all unique products.
- 10:25They have rounds, they have bars.
- 10:27Look at this 10 oz freedom bar. You're the snake.
- 10:30I've shown you that you're the dragon.
- 10:31I've shown you that and that round there.
- 10:34Let me grab that for you real quick out of my box.
- 10:36I want to show that to you. Stay with me is I think that
- 10:39honestly, this is probably one of the most beautiful.
- 10:42I love silver, but when it and when they create these beautiful
- 10:46images out of it, it is just absolutely stunning.
- 10:51Hold on a second. I got it.
- 10:52I'm coming here. It is.
- 11:01Look at that. It is just absolutely, I don't
- 11:04think the camera is doing it justice, but it is absolutely
- 11:08beautiful. This is my favorite, my favorite
- 11:10piece of silver art. Whoever did that, hats off to
- 11:14you because it is just absolutely stunning.
- 11:17So thank you, First Men for sponsoring Ron's basement.
- 11:19They make this possible. Now, they do have a discount
- 11:22code, VIPRB. All right, let's move on.
- 11:24Let's talk about this billionaire, Bateman.
- 11:26Do you know who Bateman is? He's a billionaire and he, I
- 11:30think it's safe to say, loves silver.
- 11:34Let's pull up this just to get an idea that this is from the
- 11:40Gray rabbit sub stack. Thank you.
- 11:42Gray rabbit, The Dark Knight of silver meat billionaire betting
- 11:451 billion on monetary collapse. He already has 12 million ounces
- 11:50of silver. But wait, there's more.
- 11:52There's more. There's a special offer for you
- 11:55today. Basement was 12 million ounces
- 11:58of silver. But then we get this news, OK
- 12:02from him. Hold on here.
- 12:06Did I, did I share the wrong screen?
- 12:08Hold on here. Let's go back here.
- 12:13There we go. There's The Dark Knight article
- 12:15where it says he has 12 million ounces of silver.
- 12:17And here's his most recent tweet from just two days ago.
- 12:21Now he just, he says, I just bought another 800,000 ounces of
- 12:27silver to add to the how many was that?
- 12:29He had already 12 million. This guy's got 13 million ounces
- 12:34of silver. Hold on, let's do a little quick
- 12:36math here, guys. OK, 7000 ounces of platinum and
- 12:40443 oz 4300 ounces of Palladium. And he he's a billionaire, I
- 12:46think a tech investor who has gone all in on silver.
- 12:51I mean, what is that telling us? Let's do some math quickly.
- 12:55What do we say? We're going to say 13 million
- 12:57ounces of silver. Well, we'll say 12,800,000.
- 13:00We'll be precise and we'll say the price of silver right now is
- 13:06$37. That is $473 million worth of
- 13:15silver that one guy has, right? And A and a a good chunk of the
- 13:19annual mine production for wow, absolutely stunning.
- 13:25Is he the new Hunt brothers? I don't know.
- 13:27Are other tech billionaires going to follow in his
- 13:30footsteps? Think about that.
- 13:31Think about the potential. It's absolutely crazy.
- 13:34I said earlier, I love gold. I'll touch on gold.
- 13:37Gold is is the king daddy of precious metals.
- 13:40Gold isn't a holding pattern. OK, I don't see gold going
- 13:44really crazy until sometime this fall.
- 13:47But for all of you who've been asking me, I do think that it's
- 13:50within the realm of possibility that we get gold in the high 3
- 13:55thousands, 3738 hundred and it's not out of the question.
- 13:59And I think a real distinct possibility that we could see
- 14:01$4000 gold by the end of the year.
- 14:04And by the way, some of the major financial service banks,
- 14:07you know the reason why you can say I'm crazy, but some of the
- 14:11other big banks, the big financial service firms are also
- 14:14pointing out that there's a distinct possibility that we
- 14:17could see $4000 gold by the end of the year.
- 14:21Look, if we get $4000 gold at a 50 to 1 gold to silver ratio, if
- 14:26my mathematics are correct, that would be $80 silver.
- 14:29You know who's going to be happy about that?
- 14:31That little guy back there, right?
- 14:33The $85 silver bear, Barnabas, I believe is what was what we've
- 14:38named, and we will take his blindfold off if and when that
- 14:41happens. But I also want to say thank you
- 14:43right now. Speaking of gold to 1st Mining
- 14:46Gold, they're a Canadian gold development company.
- 14:49It's a stock I own. I'm not a financial advisor, I'm
- 14:52not giving financial advice, but I've owned it for years.
- 14:55What I like about First Mining Gold is they've got millions of
- 14:58Oz of gold in the ground in Canada.
- 15:03They have two massive development stage projects,
- 15:05Dupart K which is in Quebec and the Spring Pole project which is
- 15:10in Ontario and another big project of the Cameron project
- 15:14also located in Canada, but it's gold in the ground.
- 15:17Millions, hundreds, 10s of 100 / 100 million has been spent over
- 15:22decades drilling out and defining these gold resources.
- 15:26Now they are in the process of moving them through the
- 15:28development stage, the permitting stage, OK.
- 15:31And I got a little tidbit for you, a fact, OK, that everybody
- 15:35knows the big mining companies have not invested in
- 15:39exploration. They've not invested in keeping
- 15:42a pipeline of gold oz coming for the decades to come.
- 15:46They are going to be very interested in companies that
- 15:49have development stage projects in the future.
- 15:53That's just what a lot of people are saying and what I see when I
- 15:56look at the facts. But thank you first mining gold
- 15:59for sponsoring Ron's basement and letting me get down here and
- 16:02meet with all my great friends. So here, let's go to this.
- 16:06OK, hold on here, let's talk. Let's let's touch on let's touch
- 16:14on the Basil three that's getting a lot.
- 16:18I'll give you my take on that. OK, so big news, some people are
- 16:21making it into big news is that we've got the Basil 3
- 16:26implementation in the United States official as of July 1st.
- 16:32I did some digging into this guy's.
- 16:34What that means is that the international banking Smitty
- 16:38sorry. Thank you, Susie.
- 16:41I'm sorry, Susie. Just enlighten me.
- 16:45Upstairs, Susie, hold on here. All right, then we're going to
- 16:47come back to Basil 3. For those of you who don't know
- 16:52the real boss. Hold on here, boy.
- 16:56Everything. We're having some technical
- 16:57problems this morning. There we go.
- 16:59The real boss of Ron's basement is this person right here
- 17:02upstairs. Susie.
- 17:03Usually she communicates via walkie-talkie, but she reminded
- 17:07me that the the Silver bear right there right is Smitty.
- 17:13So I apologize to everyone for that one and I don't know why
- 17:16she doesn't have. Is your walkie-talkie turned on?
- 17:18Susie? Over OK, On behalf of all of our
- 17:24viewers, we appreciate everything you do and for
- 17:26reminding us that the Silver Bears name is Smitty.
- 17:35Oh yeah, Susie says happy 4th of July, happy 4th of July, Basil
- 17:393. That's what you're here for.
- 17:40Oh, gold's going to go to the moon God.
- 17:43Look, look, it is a big deal, right That the that the US is
- 17:47now adopting these rules and implementing these rules that
- 17:50will make gold a tier one asset. That means it's like as good as
- 17:54cash or bonds basically. OK.
- 17:56But from what I've learned, there's going to be like a two
- 17:59to three-year implementation period.
- 18:02So and some people are even saying that possibly it could be
- 18:05a net negative for gold. I don't really get that, but
- 18:09this is going to go on over time.
- 18:12But the reason why we want to pay attention to it is because
- 18:15there's no way that in the end it's not a net positive for gold
- 18:20and for precious metals in general.
- 18:23OK, Will they make silver at some point?
- 18:25You don't know, right? We do know the reason why we can
- 18:28pay attention to silver more as a monetary metal is because we
- 18:32do know that the Russians, for instance, are now buying silver
- 18:36and using it as a like a central bank reserve asset.
- 18:39So interesting developments, man, There's stuff going on
- 18:42everywhere. OK, people are, but this is
- 18:45crazy. This is something else for us to
- 18:47be super excited about when it comes to precious metals.
- 18:51This is in particular for gold. But look at this guy's right.
- 18:55Don't don't think this is bad news.
- 18:57This is actually good news and I'll explain to you why.
- 19:01OK, the New York Post has a big article.
- 19:04Gold selling frenzy in New York City's Diamond District sparks a
- 19:10cash shortage. This is a new experience.
- 19:14Is that not being up there? Hold on a minute here.
- 19:16Boy, oh, boy. Here we go.
- 19:19Something's going on with the computer today.
- 19:20Now you can see a gold selling frenzy.
- 19:22And let's do this. Hold on a minute.
- 19:25How do I do that? There.
- 19:28Hey there I am gold selling frenzy in New York City's
- 19:32diamond District sparks cash shortages.
- 19:35So what these what they're reporting from the diamond
- 19:38district, the jewelry district where people can buy and sell
- 19:41gold in New York City, is that they're getting flooded with
- 19:45people selling gold in the in the United States.
- 19:49OK, two things, two important things.
- 19:51The reasons why that's a good a good thing number one, right the
- 19:55gold price is still staying at very, very high elevated levels
- 20:00like we've. We looked at earlier, $3300
- 20:03because of China and India. OK, we're going to talk about
- 20:07that in one second. The other thing is when your
- 20:10fellow Americans wake up, the Costco dads have, we know Costco
- 20:14selling record amounts of gold, blah, blah, blah.
- 20:17But when the rest of America wakes up and even just stops
- 20:20being net sellers and maybe even becomes net buyers of gold,
- 20:26right, that could spark a massive wave of demand.
- 20:31That would be a massive wave of demand on top of what's going on
- 20:35in China and India. And we know that the Chinese in
- 20:39particular and the Indians are buying a lot of gold and silver.
- 20:43By the way, think about this, guys.
- 20:46It is mind blowing, right? Couple things #1 when you look
- 20:51back to previous massive bull runs that we had in the precious
- 20:55metals, guess what? Guess what guys, China and India
- 20:59were nothings. Their economies were were a
- 21:01fraction of what they are today when we had those massive bull
- 21:06runs and gold, silver a fraction.
- 21:09Now you've got China and India both with 1.4 billion yeah you
- 21:15heard that right Billion billion people, 1.4 billion together,
- 21:232.8 billion people. The United any time to ring that
- 21:28gong about today? OK, thank you.
- 21:32OK. Yep.
- 21:32Susie's going to let me know when we get to 100 thumbs up.
- 21:35Hey, give it a thumbs up, guys. I'll ring the gong.
- 21:38OK? The golden gong here, I'll get
- 21:40it. But I'm not going to ring it
- 21:41till you get me that 100 thumbs up.
- 21:43Hold on the golden gong. I'll.
- 21:51I'll put it here as a tease. You got to give us a thumbs up.
- 21:54OK, this is different now, OK, those other big gold and silver
- 21:58runs happen when China, they were China, India were nothing
- 22:01economies. Now they're massive economies,
- 22:03both of them and growing like crazy. 2.8 billion people,
- 22:08that's almost 10 times the amount of people in the United
- 22:11States. India is developing and China,
- 22:15right? But I mean, they're, there's a
- 22:17there's some statistic that 100 million people are going to
- 22:20enter the consumer class in India in the next 5 years.
- 22:27So the fact, excuse me, the fact that your fellow Americans on
- 22:33the 4th. All right, we got 127 likes.
- 22:37I'll ring the gong. You hold on.
- 22:39I got to finish my thought. Susie.
- 22:42Hold on. Thank you, sweetheart.
- 22:45If I forget to ring the gong, please remind me in about 3
- 22:47minutes. Thank you.
- 22:49Over the fact that gold's doing what it's doing while the
- 22:55Americans are at the jewelry shop saying I want to get rid of
- 22:58my gold, I want some money I want to trade in.
- 23:01Here's your here look the typical American sheeple.
- 23:07You're the smart ones, OK, that are here watching in the
- 23:10basement, right? You understand, non Fiat assets,
- 23:14the typical sheep goes, hey, honey, should we take some?
- 23:18Should we take grandma's gold and go trade it in so that we
- 23:22can get some of this? I want to trade in my gold and
- 23:25get some of this. This is fun.
- 23:28This is this is worth something, right?
- 23:32Sorry. I mean, come on, people, when
- 23:36they wake up and you got the it's the world's financial
- 23:40system is resetting. My brain is exploding.
- 23:43OK. Yeah.
- 23:46All right, So in China is taking over pricing of the metals.
- 23:50Thank you. Congratulations to everyone
- 23:52who's on here today. We got to 100 thumbs up, right?
- 23:55We're a community. We're a family.
- 23:57We're going to ring the gong 3 times, maybe a bonus ring.
- 24:05Hear how it resonates. I screwed that one up.
- 24:08Hit my hand. Damn, that hurt.
- 24:13Thank you for the thumbs up. Yeah, we'll leave it here.
- 24:16We get the 5000 thumbs up. I'll shave my head and do it.
- 24:19All right, let's keep going. All right.
- 24:21And And this is all happening. We're measuring the value of
- 24:30silver, right? The unit of measure we're using
- 24:36for this because we're dumb too. No, we're not, but I'll explain
- 24:40is the US dollar and the underlying fact that the, I'm
- 24:43going to give you some reasons why the dollar is going down in
- 24:46value. OK, trouble on the horizon,
- 24:49right? We, we use that.
- 24:51We just, I just did it, excuse me.
- 24:55Right. We say, oh, silver's worth
- 24:57$36.83. No, you know and I know it's
- 25:00time for a friendly reminder that what's best is for us to
- 25:04measure this in ounces. Measure your wealth in ounces.
- 25:09OK, silver, gold, platinum, whatever floats your boat.
- 25:13But since we are all brainwashed into measuring it U.S. dollars,
- 25:16we will look at some bad news on the horizon for the United
- 25:20States economy. Here we go.
- 25:22It gets it gets scary. Take your blood pressure
- 25:25medicine hold on, share this tab.
- 25:30There we go. All right, we should be on the
- 25:32right page. Global market investor brought
- 25:34up this bloody hell, not just hell, bloody hell.
- 25:40The delinquency rate on US commercial mortgage-backed
- 25:43securities CMB s s for offices surged to 11%.
- 25:49A new all time high office credit, whatever they're called,
- 25:54commercial mortgage-backed securities delinquencies have
- 25:58now exceeded post great financial crisis levels.
- 26:01The commercial real estate crisis is still getting worse.
- 26:06Nobody talks about this guys, but that's a oh, hopefully I
- 26:10didn't hang up on you. Are you still there?
- 26:13That's. I think you're still there.
- 26:15Yeah, that's a big deal. That's a big, big, big problem
- 26:19for the banks. Not only do the banks own a
- 26:20bunch of treasuries that are worth less, but they don't have
- 26:23to recognize that because the banks get to do Disneyland
- 26:27accounting. But the but the commercial real
- 26:29estate sector is is another massive time bomb on the books
- 26:34of the banks because the banks loaned out all this money right
- 26:38on these commercial buildings, these these office buildings.
- 26:41OK, two things. Two things, Two reasons why it
- 26:45is it is in, in just absolutely a terrifying shape #1 the value
- 26:52of those buildings that they, the collateral that they loaned
- 26:55all the money against oftentimes are now 60 cents, $0.50, seventy
- 27:00cents, depending on where you are in Saint Louis.
- 27:02There's been buildings that that if that if sold for 10% of what
- 27:07they sold for like 15 years ago. So the bank, the collateral,
- 27:12what they have backing, right? They gave some guy $100 million
- 27:16to buy an office building 5 years ago, right?
- 27:19That building is no longer worth $100 million.
- 27:22It's worth 50,000,040 million, 60 even 70 million doesn't
- 27:26matter. The other thing that's crazy is
- 27:29when they loan that guy that money five years ago, it was
- 27:32probably when interest rates when the Fed had raised at
- 27:34around 0%. Right now rates are at 4%.
- 27:38So not only not only is the building worth less, but the
- 27:42service, that loan, which is still $100 million, is going to
- 27:47cost millions of dollars more per year as those loans roll
- 27:51forward. It's scary, OK?
- 27:54It's downright scary. Coupled with the fact that these
- 27:57banks have a lot of unrealized, unrecognized losses on their
- 28:02balance sheet, because I can't say it enough, the banks get to
- 28:05engage in Disneyland accounting. All the bankers, when they, when
- 28:11they go to look for a new job, they all send their resumes to
- 28:14Disneyland and say, hey, I know how to do Disneyland accounting.
- 28:17I'm perfect at it. OK, the ADP number, the
- 28:20employment number was great yesterday.
- 28:23Surprise, surprise, surprise, Gomer Powell.
- 28:26I think that's because there's a big war.
- 28:29Well, a big point of disagreement in Washington
- 28:34between the Fed and the White House, as it's been evident by
- 28:37our president, who has undertaken an unprecedented
- 28:40attacks on the Fed, Not a political statement, it's just
- 28:44that's really never gone on before.
- 28:46So we'll see how that one all plays out.
- 28:48And thank you also to Ledger for sponsoring Ron's basement.
- 28:52Ledger is the cryptocurrency hardware wallet security leader
- 28:56and Moon Pay, they're the fintech leader.
- 28:59You can learn both. Learn more about both of those
- 29:01companies at their respective websites.
- 29:03And I think that wraps it up, guys.
- 29:06Happy 4th of July. Thank you again for being here.
- 29:09Thanks again for all the thumbs up.
- 29:11What a great community. Have a great day.
- 29:14Don't forget, subscribe to the channel, give it a thumbs up and
- 29:17share this with some of your friends.
- 29:18Number one, take care of yourself, OK?
- 29:21And I will look forward. Yeah, you right.
- 29:24You're a unique individual. I appreciate you being here.
- 29:27We're going to look forward to seeing you next time.
- 29:29Thank you. Let's go Silver.