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**ALERT** SILVER Just had a MASSIVE Change... $37 🚨 (Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  Silver on the verge of an epic breakout.
• 0:04
  One for the record books. We're going to look in this
• 0:06
  video if the reasons why I believe and I'll be curious to
• 0:10
  hear what you think that that is the case.
• 0:13
  Also interestingly, are we setting up for another Hunt
• 0:17
  Brothers situation? Remember what happened last time
• 0:21
  some big billionaires tried to buy all the world silver?
• 0:24
  We're going to dive into that as well.
• 0:25
  And of course, we'll touch on gold.
• 0:27
  Haven't been talking a lot about gold lately, but we know the
• 0:30
  gold price hovers around $3300. It's in a bit of a period of
• 0:35
  consolidation right now, but we also know that the gold price
• 0:39
  will be heading hold holder older, higher in the months,
• 0:44
  quarters and years to come. Most importantly, guys, we got a
• 0:47
  lot to cover in this video, but the first thing we need to talk
• 0:51
  about is you. Thank you for being here.
• 0:53
  You are the most important part of Ron's basement.
• 0:56
  Please give this video a thumbs up.
• 0:58
  Subscribe to the channel. Both of those are free and we
• 1:01
  want to see you back here in the basement.
• 1:03
  Hope you feel like you found a little home away from home, a
• 1:06
  little respite from the crazy world out there because what
• 1:09
  we've got going on right now in the precious metals markets is
• 1:12
  exciting, in particular with silver.
• 1:15
  Let's go out and get a quick update on the silver price and
• 1:19
  gold price as we speak. So golds UPS in the spot market
• 1:23
  at $3331.00 per oz. Silver, right, knocking on the
• 1:28
  door of $37. And we're going to talk about
• 1:31
  why that is so important because when we go to Tim Hack on
• 1:38
  Twitter, he points out that there's a silver bull flag that
• 1:42
  was breached and has now been tested again.
• 1:45
  I expect a decisive upward push. Let's pull this up and make it a
• 1:49
  little bit bigger for us to look at.
• 1:53
  There we go. OK guys, this is one month I'm
• 1:55
  going to draw on here for you. This down here is right about
• 1:59
  one month ago. So this time period represents
• 2:03
  one month. What we see, what they're
• 2:05
  referring to is a bull flag is this channel that you can see
• 2:10
  here. It's a very reliable technical
• 2:13
  analysis tool. And as we know over the last
• 2:16
  month, you can look at the silver prices basically stayed
• 2:20
  in a range, consolidated a bit, but that's a that's the flag.
• 2:24
  This would be the pole. That's why they call it a, a
• 2:27
  flagpole chart pattern. But the interesting thing, and
• 2:32
  we'll do this in a different color, we'll use green because
• 2:35
  we are green today. As you can see, we have broken
• 2:39
  out of that pattern. The important thing here is this
• 2:43
  $3737.50 price in silver. Once we get above that, we are
• 2:50
  off to the races like most of us have never experienced before,
• 2:55
  OK? And I want to remind you guys,
• 2:57
  please don't forget, share this, give it a thumbs up, OK?
• 2:59
  But because we're going to be in for a wild, wild ride in silver,
• 3:03
  there just aren't any people between 38 dollars, $45, $50.00
• 3:10
  that want to sell silver. Everybody essentially is going
• 3:14
  to be in the money that the silver price only spent a tiny,
• 3:18
  tiny bit of time above 353738 dollars throughout the last 50
• 3:25
  years. So we're in for some fun times.
• 3:26
  But let's go to our next interesting point that we got
• 3:30
  from again, Mr. Hack. And I want to pull this up a
• 3:34
  little bit bigger for you. Hold on here.
• 3:38
  There we go. Thank you guys for staying with
• 3:41
  us here. Now let's let's make this a
• 3:43
  little bit bigger so it's easier for you to read.
• 3:48
  He pointed out something very interesting.
• 3:51
  He says, listen to this. It's a gut feeling, but I feel
• 3:55
  short sellers are less than an inch away from pressing the
• 3:59
  panic button. Those are the near record short
• 4:02
  positions that we have in the paper, right?
• 4:05
  The Comex and the LBMA, the London Bullion Market
• 4:08
  Association, right? That's that.
• 4:10
  Those are the short sellers. They watch the large time frames
• 4:14
  and wait till you see what's happening guys on the long term
• 4:17
  time frame. We're going to look at that
• 4:18
  chart next, closer than most do if we see short covering $100
• 4:25
  silver. Tim, you are no hack.
• 4:28
  We love what you're saying here is maybe less than four weeks
• 4:31
  away. Remember, remember the nickel
• 4:33
  short squeeze and interesting things are happening right now
• 4:37
  in the platinum market as well. Now let's go like I just
• 4:40
  promised, out to the longer time frame, the six month chart.
• 4:45
  This came from the Happy Hawaiian on June 30th, guys, we
• 4:48
  had the highest silver close on a six month basis in history.
• 4:55
  Excuse me. But what's even more important
• 4:58
  about that is what I spy on this chart, which is that we have
• 5:02
  broken out on a six month basis of a cup and handle pattern to
• 5:07
  see if I can get this to pull up better.
• 5:09
  OK, we'll look at it this way. Hold on here, there we go.
• 5:16
  OK, back to that, see if we can get OK.
• 5:22
  Now we'll use green because again we are green.
• 5:25
  So this over here right was the six month close these each one
• 5:30
  of these candles represents 16 month period.
• 5:34
  We had never closed this high going all the way back here to
• 5:37
  1980 through 2011 cup and handle and on a six month basis, I'm
• 5:45
  saying we broke out OK. So again, this this this
• 5:49
  unbelievable situation that's unfolding in the silver market.
• 5:55
  Let's go out here to Yahoo Finance and look at the futures
• 5:57
  market on a five year basis. You can see how beautiful,
• 6:01
  absolutely beautiful this chart looks.
• 6:05
  But what we really want to look at again here is one year, guys,
• 6:09
  we were in this situation which which we just can't emphasize
• 6:16
  enough, where we had hit $35, hit $35 and then if we draw a
• 6:23
  rough line across there at $35, we are now in Guadala.
• 6:30
  We've broken out there as well. It just doesn't get old looking
• 6:34
  at it. And you know what?
• 6:36
  A trip. Talking about silver, One last
• 6:38
  thing for us to look at is going to be from our friend the
• 6:41
  Oriental ghost. Let's give him proper credit.
• 6:43
  He does this every day by Jajun or Jajun by gives us our numbers
• 6:48
  from the Chinese market. Remember this is the Shanghai
• 6:52
  Gold Exchange. And here what's always
• 6:55
  interesting for us to pay attention to is the price,
• 6:59
  right, $38.54 U.S. dollars per oz.
• 7:05
  That's AG silver. You can look at this for
• 7:07
  yourself, but what this shows us is that the price for silver
• 7:13
  when compared right, $38.54 when compared to what we're getting
• 7:19
  in the spot, spot market in the West, OK, which is $36, excuse
• 7:25
  me, and 79 cents, 3679, wow, almost $2.00 per oz higher in
• 7:34
  China and China is taking over the precious metals markets.
• 7:37
  We're going to get into that as well.
• 7:39
  But the big key take away here guys is let's get silver to 3750
• 7:44
  per oz. Then it is Katie bar the door.
• 7:48
  We'll then be looking for weekly closes and other and monthly
• 7:53
  closes and quarterly closes above that.
• 7:55
  But look, I don't know, can you see behind me?
• 7:57
  Where is it? There it is right there.
• 8:03
  Excuse me, allergies. Here in Saint Louis, we've got
• 8:06
  the $85 silver bear. We're going to take his
• 8:09
  blindfold off when we get the $85 silver.
• 8:12
  You may say that's crazy. Are you thinking that's crazy?
• 8:15
  Is Ron just a silver pumper? Well, don't forget, guys.
• 8:19
  See 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
• 8:27
  took that one off. I know that we'll be taking off
• 8:30
  the $85 silver bear blindfold sooner than we think.
• 8:34
  Will it take two years? We don't know.
• 8:36
  We're going to find out, but we're going to find out and
• 8:38
  we're going to do that together because there's a billionaire is
• 8:42
  this guy trying to trying to do what the Hunt brothers did not
• 8:44
  too long ago, A billionaire who's making massive under the
• 8:49
  kind of under the radar moves into the silver market.
• 8:52
  We will get to that next. But first, I do want to say
• 8:55
  thank you to 1st Mint. See their sign right there.
• 8:57
  First Mint here's their 5 oz bar.
• 9:00
  This is upstairs Susie's absolute favorite and I love it
• 9:05
  myself. OK First mint is a mint located
• 9:09
  in Las Vegas, NV, USA but they get their silver from First
• 9:15
  Majestic Silver. First majestic silver owns first
• 9:18
  Mint. First Majestic Silver is one of
• 9:20
  the world's larger silver miners.
• 9:22
  They mine silver in Mexico, ship it directly doesn't go to the
• 9:27
  Comex or the LBMA or anyone else, right?
• 9:30
  It goes from the mine site in Mexico directly to Las Vegas, NV
• 9:35
  where it's where it's minted into world class silver bullion
• 9:40
  products, all unique products. OK, this is literally silver,
• 9:44
  the freshest silver on the market, right, organic, right
• 9:48
  out of the ground, hard work by the miners in Mexico, shipped to
• 9:51
  the United States, made in America and then it goes
• 9:55
  directly to you. Let's run out and take a look at
• 9:57
  their website. I just want to show you where
• 9:59
  you can check this out for yourself.
• 10:02
  Here we are at firstment.com. And let's go back to the main
• 10:08
  page. OK, wow, dollar off, limited
• 10:12
  time offer. That's my favorite.
• 10:14
  By the way, this is their Buffalo round with that Indian
• 10:20
  on the background. You know what?
• 10:21
  I'm going to get it out and show it to you here in one second.
• 10:23
  But these are all unique products.
• 10:25
  They have rounds, they have bars.
• 10:27
  Look at this 10 oz freedom bar. You're the snake.
• 10:30
  I've shown you that you're the dragon.
• 10:31
  I've shown you that and that round there.
• 10:34
  Let me grab that for you real quick out of my box.
• 10:36
  I want to show that to you. Stay with me is I think that
• 10:39
  honestly, this is probably one of the most beautiful.
• 10:42
  I love silver, but when it and when they create these beautiful
• 10:46
  images out of it, it is just absolutely stunning.
• 10:51
  Hold on a second. I got it.
• 10:52
  I'm coming here. It is.
• 11:01
  Look at that. It is just absolutely, I don't
• 11:04
  think the camera is doing it justice, but it is absolutely
• 11:08
  beautiful. This is my favorite, my favorite
• 11:10
  piece of silver art. Whoever did that, hats off to
• 11:14
  you because it is just absolutely stunning.
• 11:17
  So thank you, First Men for sponsoring Ron's basement.
• 11:19
  They make this possible. Now, they do have a discount
• 11:22
  code, VIPRB. All right, let's move on.
• 11:24
  Let's talk about this billionaire, Bateman.
• 11:26
  Do you know who Bateman is? He's a billionaire and he, I
• 11:30
  think it's safe to say, loves silver.
• 11:34
  Let's pull up this just to get an idea that this is from the
• 11:40
  Gray rabbit sub stack. Thank you.
• 11:42
  Gray rabbit, The Dark Knight of silver meat billionaire betting
• 11:45
  1 billion on monetary collapse. He already has 12 million ounces
• 11:50
  of silver. But wait, there's more.
• 11:52
  There's more. There's a special offer for you
• 11:55
  today. Basement was 12 million ounces
• 11:58
  of silver. But then we get this news, OK
• 12:02
  from him. Hold on here.
• 12:06
  Did I, did I share the wrong screen?
• 12:08
  Hold on here. Let's go back here.
• 12:13
  There we go. There's The Dark Knight article
• 12:15
  where it says he has 12 million ounces of silver.
• 12:17
  And here's his most recent tweet from just two days ago.
• 12:21
  Now he just, he says, I just bought another 800,000 ounces of
• 12:27
  silver to add to the how many was that?
• 12:29
  He had already 12 million. This guy's got 13 million ounces
• 12:34
  of silver. Hold on, let's do a little quick
• 12:36
  math here, guys. OK, 7000 ounces of platinum and
• 12:40
  443 oz 4300 ounces of Palladium. And he he's a billionaire, I
• 12:46
  think a tech investor who has gone all in on silver.
• 12:51
  I mean, what is that telling us? Let's do some math quickly.
• 12:55
  What do we say? We're going to say 13 million
• 12:57
  ounces of silver. Well, we'll say 12,800,000.
• 13:00
  We'll be precise and we'll say the price of silver right now is
• 13:06
  $37. That is $473 million worth of
• 13:15
  silver that one guy has, right? And A and a a good chunk of the
• 13:19
  annual mine production for wow, absolutely stunning.
• 13:25
  Is he the new Hunt brothers? I don't know.
• 13:27
  Are other tech billionaires going to follow in his
• 13:30
  footsteps? Think about that.
• 13:31
  Think about the potential. It's absolutely crazy.
• 13:34
  I said earlier, I love gold. I'll touch on gold.
• 13:37
  Gold is is the king daddy of precious metals.
• 13:40
  Gold isn't a holding pattern. OK, I don't see gold going
• 13:44
  really crazy until sometime this fall.
• 13:47
  But for all of you who've been asking me, I do think that it's
• 13:50
  within the realm of possibility that we get gold in the high 3
• 13:55
  thousands, 3738 hundred and it's not out of the question.
• 13:59
  And I think a real distinct possibility that we could see
• 14:01
  $4000 gold by the end of the year.
• 14:04
  And by the way, some of the major financial service banks,
• 14:07
  you know the reason why you can say I'm crazy, but some of the
• 14:11
  other big banks, the big financial service firms are also
• 14:14
  pointing out that there's a distinct possibility that we
• 14:17
  could see $4000 gold by the end of the year.
• 14:21
  Look, if we get $4000 gold at a 50 to 1 gold to silver ratio, if
• 14:26
  my mathematics are correct, that would be $80 silver.
• 14:29
  You know who's going to be happy about that?
• 14:31
  That little guy back there, right?
• 14:33
  The $85 silver bear, Barnabas, I believe is what was what we've
• 14:38
  named, and we will take his blindfold off if and when that
• 14:41
  happens. But I also want to say thank you
• 14:43
  right now. Speaking of gold to 1st Mining
• 14:46
  Gold, they're a Canadian gold development company.
• 14:49
  It's a stock I own. I'm not a financial advisor, I'm
• 14:52
  not giving financial advice, but I've owned it for years.
• 14:55
  What I like about First Mining Gold is they've got millions of
• 14:58
  Oz of gold in the ground in Canada.
• 15:03
  They have two massive development stage projects,
• 15:05
  Dupart K which is in Quebec and the Spring Pole project which is
• 15:10
  in Ontario and another big project of the Cameron project
• 15:14
  also located in Canada, but it's gold in the ground.
• 15:17
  Millions, hundreds, 10s of 100 / 100 million has been spent over
• 15:22
  decades drilling out and defining these gold resources.
• 15:26
  Now they are in the process of moving them through the
• 15:28
  development stage, the permitting stage, OK.
• 15:31
  And I got a little tidbit for you, a fact, OK, that everybody
• 15:35
  knows the big mining companies have not invested in
• 15:39
  exploration. They've not invested in keeping
• 15:42
  a pipeline of gold oz coming for the decades to come.
• 15:46
  They are going to be very interested in companies that
• 15:49
  have development stage projects in the future.
• 15:53
  That's just what a lot of people are saying and what I see when I
• 15:56
  look at the facts. But thank you first mining gold
• 15:59
  for sponsoring Ron's basement and letting me get down here and
• 16:02
  meet with all my great friends. So here, let's go to this.
• 16:06
  OK, hold on here, let's talk. Let's let's touch on let's touch
• 16:14
  on the Basil three that's getting a lot.
• 16:18
  I'll give you my take on that. OK, so big news, some people are
• 16:21
  making it into big news is that we've got the Basil 3
• 16:26
  implementation in the United States official as of July 1st.
• 16:32
  I did some digging into this guy's.
• 16:34
  What that means is that the international banking Smitty
• 16:38
  sorry. Thank you, Susie.
• 16:41
  I'm sorry, Susie. Just enlighten me.
• 16:45
  Upstairs, Susie, hold on here. All right, then we're going to
• 16:47
  come back to Basil 3. For those of you who don't know
• 16:52
  the real boss. Hold on here, boy.
• 16:56
  Everything. We're having some technical
• 16:57
  problems this morning. There we go.
• 16:59
  The real boss of Ron's basement is this person right here
• 17:02
  upstairs. Susie.
• 17:03
  Usually she communicates via walkie-talkie, but she reminded
• 17:07
  me that the the Silver bear right there right is Smitty.
• 17:13
  So I apologize to everyone for that one and I don't know why
• 17:16
  she doesn't have. Is your walkie-talkie turned on?
• 17:18
  Susie? Over OK, On behalf of all of our
• 17:24
  viewers, we appreciate everything you do and for
• 17:26
  reminding us that the Silver Bears name is Smitty.
• 17:35
  Oh yeah, Susie says happy 4th of July, happy 4th of July, Basil
• 17:39
  3. That's what you're here for.
• 17:40
  Oh, gold's going to go to the moon God.
• 17:43
  Look, look, it is a big deal, right That the that the US is
• 17:47
  now adopting these rules and implementing these rules that
• 17:50
  will make gold a tier one asset. That means it's like as good as
• 17:54
  cash or bonds basically. OK.
• 17:56
  But from what I've learned, there's going to be like a two
• 17:59
  to three-year implementation period.
• 18:02
  So and some people are even saying that possibly it could be
• 18:05
  a net negative for gold. I don't really get that, but
• 18:09
  this is going to go on over time.
• 18:12
  But the reason why we want to pay attention to it is because
• 18:15
  there's no way that in the end it's not a net positive for gold
• 18:20
  and for precious metals in general.
• 18:23
  OK, Will they make silver at some point?
• 18:25
  You don't know, right? We do know the reason why we can
• 18:28
  pay attention to silver more as a monetary metal is because we
• 18:32
  do know that the Russians, for instance, are now buying silver
• 18:36
  and using it as a like a central bank reserve asset.
• 18:39
  So interesting developments, man, There's stuff going on
• 18:42
  everywhere. OK, people are, but this is
• 18:45
  crazy. This is something else for us to
• 18:47
  be super excited about when it comes to precious metals.
• 18:51
  This is in particular for gold. But look at this guy's right.
• 18:55
  Don't don't think this is bad news.
• 18:57
  This is actually good news and I'll explain to you why.
• 19:01
  OK, the New York Post has a big article.
• 19:04
  Gold selling frenzy in New York City's Diamond District sparks a
• 19:10
  cash shortage. This is a new experience.
• 19:14
  Is that not being up there? Hold on a minute here.
• 19:16
  Boy, oh, boy. Here we go.
• 19:19
  Something's going on with the computer today.
• 19:20
  Now you can see a gold selling frenzy.
• 19:22
  And let's do this. Hold on a minute.
• 19:25
  How do I do that? There.
• 19:28
  Hey there I am gold selling frenzy in New York City's
• 19:32
  diamond District sparks cash shortages.
• 19:35
  So what these what they're reporting from the diamond
• 19:38
  district, the jewelry district where people can buy and sell
• 19:41
  gold in New York City, is that they're getting flooded with
• 19:45
  people selling gold in the in the United States.
• 19:49
  OK, two things, two important things.
• 19:51
  The reasons why that's a good a good thing number one, right the
• 19:55
  gold price is still staying at very, very high elevated levels
• 20:00
  like we've. We looked at earlier, $3300
• 20:03
  because of China and India. OK, we're going to talk about
• 20:07
  that in one second. The other thing is when your
• 20:10
  fellow Americans wake up, the Costco dads have, we know Costco
• 20:14
  selling record amounts of gold, blah, blah, blah.
• 20:17
  But when the rest of America wakes up and even just stops
• 20:20
  being net sellers and maybe even becomes net buyers of gold,
• 20:26
  right, that could spark a massive wave of demand.
• 20:31
  That would be a massive wave of demand on top of what's going on
• 20:35
  in China and India. And we know that the Chinese in
• 20:39
  particular and the Indians are buying a lot of gold and silver.
• 20:43
  By the way, think about this, guys.
• 20:46
  It is mind blowing, right? Couple things #1 when you look
• 20:51
  back to previous massive bull runs that we had in the precious
• 20:55
  metals, guess what? Guess what guys, China and India
• 20:59
  were nothings. Their economies were were a
• 21:01
  fraction of what they are today when we had those massive bull
• 21:06
  runs and gold, silver a fraction.
• 21:09
  Now you've got China and India both with 1.4 billion yeah you
• 21:15
  heard that right Billion billion people, 1.4 billion together,
• 21:23
  2.8 billion people. The United any time to ring that
• 21:28
  gong about today? OK, thank you.
• 21:32
  OK. Yep.
• 21:32
  Susie's going to let me know when we get to 100 thumbs up.
• 21:35
  Hey, give it a thumbs up, guys. I'll ring the gong.
• 21:38
  OK? The golden gong here, I'll get
• 21:40
  it. But I'm not going to ring it
• 21:41
  till you get me that 100 thumbs up.
• 21:43
  Hold on the golden gong. I'll.
• 21:51
  I'll put it here as a tease. You got to give us a thumbs up.
• 21:54
  OK, this is different now, OK, those other big gold and silver
• 21:58
  runs happen when China, they were China, India were nothing
• 22:01
  economies. Now they're massive economies,
• 22:03
  both of them and growing like crazy. 2.8 billion people,
• 22:08
  that's almost 10 times the amount of people in the United
• 22:11
  States. India is developing and China,
• 22:15
  right? But I mean, they're, there's a
• 22:17
  there's some statistic that 100 million people are going to
• 22:20
  enter the consumer class in India in the next 5 years.
• 22:27
  So the fact, excuse me, the fact that your fellow Americans on
• 22:33
  the 4th. All right, we got 127 likes.
• 22:37
  I'll ring the gong. You hold on.
• 22:39
  I got to finish my thought. Susie.
• 22:42
  Hold on. Thank you, sweetheart.
• 22:45
  If I forget to ring the gong, please remind me in about 3
• 22:47
  minutes. Thank you.
• 22:49
  Over the fact that gold's doing what it's doing while the
• 22:55
  Americans are at the jewelry shop saying I want to get rid of
• 22:58
  my gold, I want some money I want to trade in.
• 23:01
  Here's your here look the typical American sheeple.
• 23:07
  You're the smart ones, OK, that are here watching in the
• 23:10
  basement, right? You understand, non Fiat assets,
• 23:14
  the typical sheep goes, hey, honey, should we take some?
• 23:18
  Should we take grandma's gold and go trade it in so that we
• 23:22
  can get some of this? I want to trade in my gold and
• 23:25
  get some of this. This is fun.
• 23:28
  This is this is worth something, right?
• 23:32
  Sorry. I mean, come on, people, when
• 23:36
  they wake up and you got the it's the world's financial
• 23:40
  system is resetting. My brain is exploding.
• 23:43
  OK. Yeah.
• 23:46
  All right, So in China is taking over pricing of the metals.
• 23:50
  Thank you. Congratulations to everyone
• 23:52
  who's on here today. We got to 100 thumbs up, right?
• 23:55
  We're a community. We're a family.
• 23:57
  We're going to ring the gong 3 times, maybe a bonus ring.
• 24:05
  Hear how it resonates. I screwed that one up.
• 24:08
  Hit my hand. Damn, that hurt.
• 24:13
  Thank you for the thumbs up. Yeah, we'll leave it here.
• 24:16
  We get the 5000 thumbs up. I'll shave my head and do it.
• 24:19
  All right, let's keep going. All right.
• 24:21
  And And this is all happening. We're measuring the value of
• 24:30
  silver, right? The unit of measure we're using
• 24:36
  for this because we're dumb too. No, we're not, but I'll explain
• 24:40
  is the US dollar and the underlying fact that the, I'm
• 24:43
  going to give you some reasons why the dollar is going down in
• 24:46
  value. OK, trouble on the horizon,
• 24:49
  right? We, we use that.
• 24:51
  We just, I just did it, excuse me.
• 24:55
  Right. We say, oh, silver's worth
• 24:57
  $36.83. No, you know and I know it's
• 25:00
  time for a friendly reminder that what's best is for us to
• 25:04
  measure this in ounces. Measure your wealth in ounces.
• 25:09
  OK, silver, gold, platinum, whatever floats your boat.
• 25:13
  But since we are all brainwashed into measuring it U.S. dollars,
• 25:16
  we will look at some bad news on the horizon for the United
• 25:20
  States economy. Here we go.
• 25:22
  It gets it gets scary. Take your blood pressure
• 25:25
  medicine hold on, share this tab.
• 25:30
  There we go. All right, we should be on the
• 25:32
  right page. Global market investor brought
• 25:34
  up this bloody hell, not just hell, bloody hell.
• 25:40
  The delinquency rate on US commercial mortgage-backed
• 25:43
  securities CMB s s for offices surged to 11%.
• 25:49
  A new all time high office credit, whatever they're called,
• 25:54
  commercial mortgage-backed securities delinquencies have
• 25:58
  now exceeded post great financial crisis levels.
• 26:01
  The commercial real estate crisis is still getting worse.
• 26:06
  Nobody talks about this guys, but that's a oh, hopefully I
• 26:10
  didn't hang up on you. Are you still there?
• 26:13
  That's. I think you're still there.
• 26:15
  Yeah, that's a big deal. That's a big, big, big problem
• 26:19
  for the banks. Not only do the banks own a
• 26:20
  bunch of treasuries that are worth less, but they don't have
• 26:23
  to recognize that because the banks get to do Disneyland
• 26:27
  accounting. But the but the commercial real
• 26:29
  estate sector is is another massive time bomb on the books
• 26:34
  of the banks because the banks loaned out all this money right
• 26:38
  on these commercial buildings, these these office buildings.
• 26:41
  OK, two things. Two things, Two reasons why it
• 26:45
  is it is in, in just absolutely a terrifying shape #1 the value
• 26:52
  of those buildings that they, the collateral that they loaned
• 26:55
  all the money against oftentimes are now 60 cents, $0.50, seventy
• 27:00
  cents, depending on where you are in Saint Louis.
• 27:02
  There's been buildings that that if that if sold for 10% of what
• 27:07
  they sold for like 15 years ago. So the bank, the collateral,
• 27:12
  what they have backing, right? They gave some guy $100 million
• 27:16
  to buy an office building 5 years ago, right?
• 27:19
  That building is no longer worth $100 million.
• 27:22
  It's worth 50,000,040 million, 60 even 70 million doesn't
• 27:26
  matter. The other thing that's crazy is
• 27:29
  when they loan that guy that money five years ago, it was
• 27:32
  probably when interest rates when the Fed had raised at
• 27:34
  around 0%. Right now rates are at 4%.
• 27:38
  So not only not only is the building worth less, but the
• 27:42
  service, that loan, which is still $100 million, is going to
• 27:47
  cost millions of dollars more per year as those loans roll
• 27:51
  forward. It's scary, OK?
• 27:54
  It's downright scary. Coupled with the fact that these
• 27:57
  banks have a lot of unrealized, unrecognized losses on their
• 28:02
  balance sheet, because I can't say it enough, the banks get to
• 28:05
  engage in Disneyland accounting. All the bankers, when they, when
• 28:11
  they go to look for a new job, they all send their resumes to
• 28:14
  Disneyland and say, hey, I know how to do Disneyland accounting.
• 28:17
  I'm perfect at it. OK, the ADP number, the
• 28:20
  employment number was great yesterday.
• 28:23
  Surprise, surprise, surprise, Gomer Powell.
• 28:26
  I think that's because there's a big war.
• 28:29
  Well, a big point of disagreement in Washington
• 28:34
  between the Fed and the White House, as it's been evident by
• 28:37
  our president, who has undertaken an unprecedented
• 28:40
  attacks on the Fed, Not a political statement, it's just
• 28:44
  that's really never gone on before.
• 28:46
  So we'll see how that one all plays out.
• 28:48
  And thank you also to Ledger for sponsoring Ron's basement.
• 28:52
  Ledger is the cryptocurrency hardware wallet security leader
• 28:56
  and Moon Pay, they're the fintech leader.
• 28:59
  You can learn both. Learn more about both of those
• 29:01
  companies at their respective websites.
• 29:03
  And I think that wraps it up, guys.
• 29:06
  Happy 4th of July. Thank you again for being here.
• 29:09
  Thanks again for all the thumbs up.
• 29:11
  What a great community. Have a great day.
• 29:14
  Don't forget, subscribe to the channel, give it a thumbs up and
• 29:17
  share this with some of your friends.
• 29:18
  Number one, take care of yourself, OK?
• 29:21
  And I will look forward. Yeah, you right.
• 29:24
  You're a unique individual. I appreciate you being here.
• 29:27
  We're going to look forward to seeing you next time.
• 29:29
  Thank you. Let's go Silver.