Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **SILVER** You Best PAY ATTENTION to This! ⛩️ (Gold Price Also)

Transcript

**SILVER** You Best PAY ATTENTION to This! ⛩️ (Gold Price Also) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
Why, hello to you and welcome to The Basement.
0:03
We have a great show today. Wow, absolute crazy news going
0:09
on out there. We're going to dig into it all,
0:12
But let's get started by. You know what?
0:14
Let's get started by saying thank you for being here today.
0:17
OK, it's a big deal you're here. But the biggest story that I see
0:21
going on right now in the gold in the silver market has to do
0:27
with China. Did you hear overnight on the
0:30
Shanghai Gold Exchange, the Shanghai Futures Exchange, the
0:34
price of silver reached $30 per oz.
0:37
What is that telling us? What is that telling us?
0:42
When here in the United States we're still looking at a silver
0:45
price, what, almost 2 1/2 dollars less?
0:50
What is that telling us? Let's go out and look at some
0:53
fascinating, I mean absolutely fascinating information.
0:56
We're going to look at that a little bit later.
0:59
But let's start. Have you heard of this guy?
1:02
The Oriental ghost is what he goes by.
1:05
Looks like. His name is Bai Jai Jun.
1:08
OK, here, this was last night, he said.
1:11
After the Qing Ming Festival, the Shanghai Gold Exchange and
1:15
the Shanghai Futures Exchange opened today and silver surged.
1:21
I don't know if you saw this last night.
1:23
It was crazy action. Silver and gold were down pretty
1:27
huge last night and within an hour they both shot almost
1:32
straight up. Chinese miners of gold and
1:35
silver and related related stocks have boomed with multiple
1:40
stocks. Hitting limit up over here shows
1:43
the Shanghai Futures Exchange silver price shooting up.
1:48
But guys we're talking about hitting limit up.
1:51
That means there are limits put in the market that things like
1:55
the silver price, the gold mining stocks, the silver mining
1:58
stocks are limited in terms of how high they can go up and
2:02
they're hitting limit up. But wait, there's more out of
2:05
China. Again, what is this telling us
2:07
about the silver there? There's the the Shanghai Futures
2:11
Exchange Silver price. Unbelievable.
2:14
Over to the right is a bunch of Chinese writing that I can't
2:18
read. So let's go to the next one.
2:21
This was the Oriental Ghost. A little bit later.
2:24
This is crazy. Sit down for this one guys.
2:27
OK, Silver on the SGE and the SFE again.
2:31
Those are the the Shanghai Gold Exchange in Shanghai Futures
2:34
Exchange hit a new high since October 8th of 2012.
2:41
Oh, my God. Gold kept its all time high.
2:45
Silver on the Shanghai Futures Exchange closed at limit up.
2:50
That means they won't. It would have gone higher, but
2:52
they won't let it go any higher. It's the limit, right.
2:56
The COMEX and the LBMA do that as well.
2:58
Not happy with China over that. April 8th, the market data on
3:03
the Shanghai. All right.
3:04
All right. Let's go to this next slide.
3:05
I expanded it for you. OK, China Shanghai Gold
3:09
Exchange, China Shanghai Futures Exchange Daily Report, April
3:13
8th, 2024. Look at the second line down.
3:17
That's AG. But you know this already.
3:20
But in case you don't, that mean AG is the what?
3:23
The periodic table symbol for silver go all the way to the
3:27
right close price in U.S. dollars per oz $30.57.
3:36
What the heck? In the United States they're
3:38
selling silver on the Comex and the LBMA for $27.50.
3:42
Guys, there is our big, big, major things going on in the
3:47
silver market right now. Let's go down here to the
3:50
description. Silver on the Chinese exchanges.
3:53
Daytime tradie closed at a new high since October 8th.
3:56
All right, We read that already. Silver on the Shanghai future
3:59
hit limit up. Man, Can you believe?
4:02
I think that's the last slide. Yeah, that's a blank page.
4:07
That's a glimpse into the mind of Ron's basement.
4:10
Can you believe what's going on? But what makes it even more
4:13
interesting? Silver, right.
4:15
A new high since 2012 in China. Is that interesting enough for
4:20
you? No, it gets even better.
4:23
It was up limit high. Is that interesting enough for
4:27
you, Mr. or misses? Basement Dweller, Silver
4:31
Investor. Thank you for being here, by the
4:33
way, 'cause it gets even more interesting.
4:35
We got more to think about when it comes to what's going on in
4:38
China. But please give this a thumbs
4:40
up. Help get the word out to more
4:42
people. You can subscribe, it's free.
4:45
Thank you for the Super chats in advance.
4:48
Susie's out mowing the lawn right now, so she can't help me.
4:51
So if I miss anything, I apologize.
4:54
And don't forget to go to ronsbasement.com.
4:57
OK, there's a forum there. There's a contest going on
4:59
anyway. Ron's basement.com.
5:01
That's easy to remember. Now back.
5:03
No more commercials. No more Ron's basement
5:05
commercials during this live stream.
5:07
But let's go back to what else is going on.
5:10
Right. We know silver trading for $2.50
5:14
higher in Shanghai. Oh, that's a big deal.
5:17
We know it was limit up. Oh, that's a big deal.
5:20
Are you forgetting something, Basement dwellers?
5:25
We can't forget one of the critical key differences between
5:31
the Shanghai metals markets and the Western the OBMA, the London
5:36
Bullion Market Association, the oldest metals market in the
5:39
world. We've been manipulating silver
5:41
and gold for longer than your great grandpa was alive.
5:44
Long longer than your great great grandpa was alive.
5:47
But we're always trying to find the most efficient price for the
5:50
metal as long as we can beat it down into oblivion.
5:53
Those guys on the COMEX, right, There's a big difference, a
5:57
critical difference between the COMEX and the LBMA and the
6:03
Shanghai Futures Exchange and Gold Exchange, whatever the SGE,
6:08
gosh, I can't believe I forgot that guys, their market in
6:11
Shanghai is based on physical metal, much more physical, OK,
6:16
Much, much, much more. It's like the inverse.
6:20
You know, in the United States, they write what, 16,000,000
6:22
baked 400 contracts for each one ounce of silver, gold, whatever.
6:26
I'm exaggerating, but in Shanghai, it's a physical
6:30
market. What about the Russians and the
6:35
Moscow World Standard, the market they're opening.
6:37
What about the Indians and the I think it's the I, I BX where
6:40
they're trading silver. Oh, maybe that's where India got
6:43
that 70 million ounces. I was talking with James
6:47
Anderson this morning, the guy that makes the weekly video from
6:51
for SD bullion, a great video he puts out every week.
6:54
And we were talking about like, I don't care, mate, you don't,
6:57
You don't have to like it or not.
6:59
But I'm telling you folks, the fact that India imported 70
7:03
million ounces of silver during the month of of of of February
7:07
is a massive deal. What do you think they imported
7:10
in March? I'm not expecting as much, but
7:13
my gosh, James and I were talking like this.
7:15
That's a huge deal. OK, I'll say it one last time.
7:18
That's like going to an NFL football stadium.
7:21
It's empty. Me and you are on the 50 yard
7:24
line hanging out, right? We look at all these 70,000
7:27
empty seats in the stadium and then imagine a 1000 oz silver
7:34
bar looks like a loaf of bread. Little loaf of bread all comes
7:38
down. And one of those Each one of
7:41
those 1000 oz Loafs of bread, Silver bar, 1000 oz bar lands in
7:46
each of the empty seats. That's how much silver?
7:48
Almost 10% of the world's production.
7:50
I digress. I talk about that too much.
7:52
I apologize. Basement dwellers.
7:56
Silver continues to March upward.
8:00
Silver definitely got its marching orders in are in March,
8:05
right, got its marching orders in March.
8:07
Where will it go into April? Let's talk about big bull
8:11
markets. Let's talk about something that
8:13
you may not, you may not believe in, OK.
8:16
But if this is real, right, some of the things we're taught to
8:19
believe aren't true. Have we learned that as we've
8:22
gotten older? OK.
8:24
One of which if you're an investor in silver and gold, you
8:28
may have you may have lost faith.
8:29
Have you lost faith as a silver and gold investor?
8:33
Are you starting to question your your decision to invest
8:36
some of your hard earned paper Unicorn fart dust Fiat money
8:41
into real metal? Are you?
8:43
Did you question yourself over the last few years?
8:45
It would be natural. Nobody knows anything for sure.
8:48
Don't forget right like I don't have a crystal ball.
8:51
I'm not giving financial advice here, all right?
8:54
I'm giving my opinion. I'm giving what I believe what I
8:57
see. All right, so.
8:58
But it'd be easy for you, I understand, to have lost some
9:01
faith over the last few years. But is there reason for hope?
9:06
Yes. I want to show you something
9:08
visually. It will be a hope, a hopeful
9:13
visual. You will believe.
9:15
Because, guys, you got to remember.
9:18
Hold on. Here, let me pull this up.
9:20
There's that blank screen. Let's go back.
9:23
Let's go back. Let's go back.
9:25
Oh, there it is, There it is. OK, this came from Verani Boroni
9:33
visualizing gold, but we're talking silver too.
9:37
Bull markets and bear markets from 1970.
9:41
Boy, coincidentally, that's the year that I was born.
9:46
So look at the gold bull market that went from about 1970 to
9:50
1980, You know, right. Silver went from $1.50 all the
9:54
way to $50 per oz in 1980. And if we adjust that $50 per oz
10:01
for inflation, in today's dollars, that's north of $150.00
10:06
per oz. But then look at this from 1980
10:09
all the way through 2000. OK, 20 year bear market.
10:15
It says the bear market was due to tight monetary policies
10:18
designed to fight inflation. That was different.
10:22
Hold on. Technical problems.
10:25
There we are. Hopefully you can still see
10:27
this. That was what was different back
10:29
then was the United States didn't have a debt to GDP ratio
10:33
of 125. OK?
10:35
It was a different world back then.
10:37
Volcker was able to fight inflation, but that lasted for
10:41
20 years. Now I want you to look at what
10:43
happened from 2000. We're going to say all the way
10:48
through 2012 we had another bull market.
10:51
These are long bull markets. These are bull markets that last
10:56
10 years. OK.
10:58
Keith Neumeyer the the, the CEO of First Majestic Silver,
11:02
Chairman of channel sponsor First Mining Gold.
11:06
You can learn more about them at firstmininggold.com.
11:09
Was talking with him last week and he reminded me he was like,
11:12
yeah, that bear or that bull market that went from about 02
11:16
to 2012. I'm like what are you talking
11:18
about Keith, a 10 year bull market in gold and silver.
11:22
He was like, yeah, it kept going up and up and we thought, oh
11:25
it's got to be over now and then it would go higher.
11:28
Oh it's got to be over now And it kept going higher.
11:31
Are we? We are the here's, here's,
11:33
here's what I want you to see on this chart.
11:36
We can have long term bull markets.
11:40
Good news for the gold price and the silver price.
11:44
OK, Looks like we had what we had another one.
11:46
From about 2016 through 2020, we've been in a little bear
11:51
market. That's that last little red part
11:53
-21%. But the blue is where we are
11:58
now. And Oh my gosh, have we ever had
12:01
quite the setup? Excuse me, where'd I go?
12:05
Here we are. Hello basement all 400 of you
12:09
folks. Thank you for being here.
12:11
Big deal, right. You are important.
12:13
This is, I'm going to talk about you for a second then we're
12:15
going to get back to this bull market.
12:18
You you really are the most important part of Ron's basement
12:22
coming together to talk about gold and silver.
12:24
Do you believe that we could have a five year, six year, 10
12:29
year, 15 year, 20 year, this could be this next Bull market
12:34
and James Anderson and I were. I mean it's like the set up
12:37
Jordan, Roy Byrne go watch the interview I did with him,
12:40
another one of the smartest guys in the room guys we are in a set
12:44
up right now. I know it feels like it's it, it
12:49
is happening and we do have reason for optimism no doubt
12:52
about it. But we are in a set up right now
12:55
for silver and gold on so many levels, fundamentally because of
12:59
the monetary system that's gone on, right?
13:01
The monetary decisions that have been made by the Federal
13:04
Reserve, right. They have screwed this up
13:07
massively, fiscally with our government, OK, geopolitically
13:11
on a worldwide basis. Technically, Jordan Roy Byrne is
13:16
is a smart, smart man. OK, he knows the charts.
13:20
He he said The setups that we have right now are like, are
13:25
going to be in the textbooks of the future.
13:28
Right now, there's no guarantee, but man, oh man, when you put it
13:32
all together, when you pick up all the crumbs like Andy
13:35
Scheckman says, and yes, Andy's going to be back on the show in
13:38
about a month. We have a scheduled interview
13:40
with Andy Scheck. Andy says pick up all the
13:42
crumbs, put them together, and what do you get right?
13:45
What do you see? That's what you have to do.
13:47
That's what I'm doing. I'm giving you what I see out
13:51
there. And boy, oh, boy, I don't know.
13:54
I feel comfortable holding silver and gold.
13:57
Do you feel comfortable holding silver and gold?
13:59
You know, I would imagine you probably do critical, critical,
14:04
critical concept that all of us. I don't.
14:08
Have you turned the corner basement dweller for all the new
14:13
people here today. That's what we call ourselves
14:15
basement dwellers. And I'm no better than you, OK?
14:18
Actually, for me, you're better than me, 'cause I have a chance
14:22
to learn from you. But have you turned the corner
14:25
as a stacker? Let's just focus on silver right
14:28
now. I'm really starting.
14:30
I Can you believe we have $27.50 silver right now?
14:35
Let's I tell you what, let's run out and we're going to talk
14:38
about this big concept critical to you as a stacker, that we
14:43
need to ingrain. We need to be reprogrammed.
14:46
We're going to be, we're going to be reprogrammed.
14:49
This is like silver. So not brainwashing, That's a
14:53
bad word. But I'm not right.
14:55
But we do need to be reprogrammed in terms of how we
14:58
think about silver on this one critical concept.
15:01
But let us hold on here. Let me make sure this is
15:04
working. There it is.
15:06
OK, Let's go check on the silver and gold price.
15:09
Let's. Wow, is that right?
15:12
We're going to go to pin backs. We're going to refresh.
15:15
OK, you know what? Gold's up.
15:17
Almost $3 silver. Can Can you believe this?
15:22
Thank you, Pendex. By the way, for this quote,
15:24
$27.75, almost $28.00 per oz. We know that on the Shanghai
15:32
Gold Exchange, that number is what, $30.50 an ounce?
15:36
So you're getting a good deal here at Pendex.
15:38
Actually, I want to say thank you to Pendex for sponsoring
15:42
Ron's Basement. This live stream, this video
15:45
would not be possible without their generous support to me and
15:49
the Basement Dweller community. But what they give the Basement
15:51
Dweller Community that I think's even more important is an
15:55
opportunity to get your hands on physical gold, physical silver,
16:00
platinum, group metals, and get your hands on them at a great,
16:04
great price. The same products that are
16:07
available on other websites right here on the Pembex website
16:12
at a better price. When you work with Pembex, you
16:14
get more metal for your money and to me right, besides it
16:21
being a company that I trust, getting them the most metal for
16:25
my money is probably the most critical factor.
16:28
They can also help with IRA conversions.
16:31
If you're ever thinking about converting part or all of an IRA
16:34
into precious metals, do yourself a favor and check out
16:38
pin backs. Let's get back.
16:39
You want to see me? I want to see you. 500 basement
16:42
dwellers. We are moving.
16:44
What's this critical factor, right?
16:48
Biggest factor we need. You need to be reprogrammed.
16:51
I will not reprogram or attempt to reprogram you in any other
16:55
manner except this one itsy bitsy little thing.
16:58
And I'm getting there. I think I'm 80% of the way.
17:01
They're right. Nobody's perfect.
17:02
I'm not perfect. You're not perfect.
17:04
We don't expect perfection. But what you need to do, start
17:07
moving toward think. Try to stop thinking of your
17:13
ounces of silver. Try to stop thinking if you own
17:16
gold. I don't.
17:17
I'm not a big gold stacker. I own gold mining snacks.
17:19
But nonetheless, stop thinking of Oz of platinum, ounces of
17:23
gold, ounces of silver in dollar terms.
17:26
Look, I just did it. I just, I you know, right?
17:29
Because that's what think about it in terms of Oz real value,
17:35
right? Because the reality is, guys,
17:37
the the, the, the quote, UN quote, dollar measured Fiat,
17:41
measured price of silver, It could go to Infinity, it could
17:45
go easily to $75.00. It could go easily to $150.00.
17:52
Can we get, can we go higher? How about 250?
17:55
How about 2000? OK, I know it's crazy, right?
17:58
You all throw tomatoes at me. No, we're talking about paper.
18:03
Where is it? Hold on.
18:05
Here it is. I want you to do something, and
18:08
if you don't have one now, just do it later.
18:11
But take one of these and hold it in your hand, OK?
18:14
Like I am right now. Hold it.
18:16
Hold it like this. If it doesn't blow away, make
18:19
sure you're not somewhere with wind or talking a lot like I do.
18:23
Right. We're talking about paper.
18:25
Paper. I, I, I hate that.
18:27
I have to say this. I hate that our leaders let us
18:31
down this path. But that is based on nothing.
18:34
And then take, take one of these here, here's a beautiful.
18:37
That's the coin of the day. Beautiful.
18:39
Peace. Dollar.
18:40
OK, beautiful. Hold on.
18:43
Look at that. Right.
18:44
Hold that. It's absolutely different.
18:48
So that's what we need to do as stackers.
18:51
Remember, it's ounces, right? Or it's bars, Or however you
18:57
want to think about it. An ounce is a measure of weight.
18:59
Weight is a measure of value with metals, right?
19:02
This right? Our good friend bald Guy Money
19:06
likes to refer to this as a battery.
19:10
It doesn't store energy, although we know silver, right,
19:13
is unbelievable awesome at transmitting electricity.
19:18
It's the it's the it's the scale by which everything else is
19:22
measured. But it holds value.
19:25
Here she comes. Right, it holds.
19:28
Oh, look at that. Perfect.
19:30
Look at that. I got that in focus.
19:32
I don't want to move. This is value.
19:36
This 1925, my great grandpa could have had this exact coin
19:41
in his pocket and it had the same essential value to him.
19:46
I could take the. He could have taken this.
19:48
Then. Then I'll stop.
19:49
I promise. Just bear with me, Grandpa.
19:52
Right. My grandpa Hal or my great
19:55
grandpa could have taken this exact coin and probably gone out
19:58
and got a really nice lunch. Right.
20:01
A really nice lunch at a sit down nice place.
20:04
Guess what buttercup? I could take this right now.
20:10
I'd have to go to my local coin shop because, you know, that's
20:13
the way it works now. But I could convert it and go
20:16
immediately. As long as the dollar didn't
20:18
crash during that hour that I was eating and I could use that
20:21
Fiat paper money that I to eat a really nice lunch.
20:25
That's why we love silver and gold.
20:28
Sorry I got off on a tangent. Look, let's go out to Kitco.
20:33
We got to see what's going on in the market right now.
20:37
We know Pembex gave us a great quote, but I want to run out to
20:41
Kitco site and look at the big news stories affecting silver
20:45
and gold here, right at the very top.
20:47
Lynette Zang. Don't we love Lynette Zang?
20:50
By the way, Lynette will be back in the basement here in about 3
20:53
weeks. She's going to join me for an
20:55
interview. Lynette had something so crazy
20:58
critical to say last time she was an esteemed guest here in
21:03
Ron's basement. I asked her.
21:04
I said, do you feel? Let me ask you this question,
21:07
Basement dweller, right. I know it's confusing.
21:10
And even James Anderson and I were talking about this morning
21:12
like, we deal with some pretty like, like I'm gonna say
21:16
negative, but we're dealing with reality, and the reality is not
21:19
pretty. OK, So it can feel crazy.
21:21
And I asked Lynette, I said, does it feel crazy.
21:24
She said absolutely. And it's normal to feel crazy
21:28
because as Lynette said, like we are getting toward the end days
21:32
with what's going on. Look, we could all be wrong.
21:35
I could be wrong. I don't think I'm wrong.
21:38
And I don't want it to be Chicken Little run around
21:40
saying, oh, the scar's falling, the scar's falling.
21:43
And I'm not trying to scare you, but the reality of the situation
21:47
is not good. And when I said that's what
21:49
happens towards the end, things start to feel crazy.
21:54
I feel like I'm dropping a lot of names today, but Andy
21:57
Scheckman uses the idea of the Jenga.
21:59
You know that game where you pile up all the wood things and
22:02
you take a piece out? You take a piece out, you take a
22:05
piece out and it's all standing until suddenly it's not?
22:08
But Lynette goes into this no bank is safe.
22:11
Implosion coming. Every single bank is insolvent.
22:15
Every single bank is insolvent. And I think, you know, look, I
22:20
I'm not going to say 100% that I know that every single bank is
22:25
insolvent. But based upon the fact that
22:28
these banks are holding a bunch of treasury notes that are
22:31
deeply underwater, deep, deep, deep underwater, I think it's
22:36
safe to say, oh, and by the way, there's this other thing, don't
22:39
tell anybody about this. It's called the commercial real
22:42
estate problem. They have as well, they're
22:44
underwater on those. So yes, the banks are in
22:46
trouble. But I went down here.
22:49
Which of these articles catches your attention?
22:51
I'll tell you which one caught my attention.
22:53
Choppy consolidated action and gold.
22:56
After a record high hit early on the next article, Gold and
22:59
silver are still. This is a good one.
23:02
Gold and silver are still not overvalued as hedge funds add
23:07
this one. Gold prices due for a
23:10
correction. Silver gets support.
23:13
I want to see what it's talking about.
23:14
Silver OK, Silver gets support from both investors and
23:19
industry. That's according to Haraius,
23:23
which I think is a German. A German refiner.
23:28
In mint, they sell some really cool bars.
23:31
Gold appears to be overbought. Let's let's read this.
23:34
You gotta you gotta listen to this.
23:35
Gold appears to be overbought and due for an imminent
23:37
correction. Oh no, gold's gonna crash.
23:40
Corrections will happen while silver is seeing support from
23:45
both the investment community comma basement dwellers comma,
23:49
and industrial demand. According to precious precious
23:52
metals analyst at I can never pronounce.
23:54
I can't pronounce anything. I'm sorry.
23:57
I apologize, I say. Putin, Putin, Susie yells at me
24:00
every day. Then I get I'm like,
24:02
traumatized. Is it war?
24:04
Is it war? I get in trouble for that.
24:06
What's the other one? Oh, I I'm sorry.
24:08
I owe you an apology, I used to say for all intensive purposes.
24:12
Apparently it's all intents and purposes.
24:15
Anyway, Hilarious said that in the company's latest report, the
24:19
analyst noted that gold prices are continuing to rise despite
24:25
the fact that rate cut expectations have been
24:28
moderating. Because we know Cowbell.
24:33
Thank you, Jake. Jake, thank you for that text.
24:35
I'm going to ring the cowbell here in a second.
24:37
Thank you. We know that.
24:40
And again, James Anderson, this can be with James Anderson.
24:44
Me slow down. We talked about that this this
24:46
morning, OK? And we have an interview with
24:49
him. It's going to be coming out in a
24:50
couple days. Everybody's so, oh, the feds got
24:53
to cut rates. The feds got to cut rates for
24:56
gold and silver to go up. BS, repeat after me.
25:00
You can yell at BS. We haven't done our smile for
25:03
the day either. We'll do that while we're doing
25:05
the cowbell, OK? BS, the Fed doesn't have to
25:09
raise rates for the price of gold and silver to go up.
25:12
They absolutely don't. OK. the Fed BS, OK.
25:17
The dollar does not have to go down for the price of silver and
25:21
gold. That's BS.
25:22
Everything is changing. We are in, I we talked about
25:25
this back in December. We are in a new paradigm.
25:28
What needs to happen and trust me, your, your elected officials
25:33
and your Federal Reserve are doing a bang up job of making
25:37
what really needs to happen happen.
25:39
And that is that the real value of the dollar needs to go down.
25:43
The real value, right, the amount you can get at the
25:47
grocery store with $100 bill needs to continue to go down.
25:52
It's gone down over the last decades.
25:53
It's going to continue to go down in the coming decades and
25:56
it's going to continue to go down at an ever increasing rate.
26:00
OK, quickly here, the gold price.
26:04
The gold price has risen by almost 13% year to date.
26:07
And this is without the aid of Fed monetary policy pivot, A
26:11
markedly weaker dollar. We just talked about this boy,
26:15
we could write for Kitco or meaningful resurgence in
26:18
institutional investment demand via ETS, they wrote.
26:22
This may leave the door open to a move even higher later in the
26:27
year when the Fed finally decides to drop interest rates,
26:31
which they're not going to do, which in all likelihood will
26:35
weaken the US dollar. So what they're saying is, hey
26:39
guys, guess what we got. Good news for US basement
26:42
dwellers, the price of gold and silver have done very well in
26:46
the face of factors that traditionally would have been
26:51
headwinds to the price of silver and gold.
26:54
So if those things do come into fruition, it's going to be an
26:58
extra. It's like an afterburner on an
26:59
F15 fighter jet. It's going to be like rocket
27:02
fuel for the price of silver and gold.
27:04
That's the reality. OK, hold on here before I
27:07
forget. It's time for the daily smile.
27:09
We'll come back, don't you worry.
27:11
Where's my belt? There's my bell.
27:13
Let's ring the cowbell. Thank you, Jake, for the
27:15
reminder. For those of you who don't like
27:17
bells, feel free right now to mute your micro or your
27:22
earphones. Whatever.
27:23
For the guys at Goldman Sachs who are on the trading desk
27:27
watching the guys at JP Morgan Chase that watch Ron's basement
27:30
to hear about what's really going on, you may want to turn
27:33
your speakers off so your boss doesn't come around out of his
27:35
office. We're going to ring the bell.
27:36
But most important, I want you to join me.
27:39
It's smile time. I need to smile more.
27:41
Let's all smile. And I'm going to ring the bell.
27:43
200 thumbs up. Hey, while I'm at it, I I talked
27:56
about channel sponsor Pinbex. Thank you.
27:59
We talked about first mining gold with Keith Newmar.
28:02
Let's talk about Fortuna Silver. They came out with their first
28:06
quarter production numbers this morning.
28:09
The company continues to perform.
28:11
I'll encourage you to go learn more about Fortuna
28:14
silver@fortunasilver.com. They're not only a silver miner,
28:19
but they're actually now more of a gold mining company as well
28:24
and they're doing a bang up job with that.
28:27
They have operations in Latin America and West Africa.
28:30
Let's go back here. Wait a minute, wait a minute.
28:34
Bear with me. And OK, they pointed out that
28:39
the gold prices are up 5% in the last few weeks even as Fed
28:43
speakers have been working overtime to talk down the
28:46
markets. That's the other thing that
28:48
really gets me mad. When did the Federal Reserve
28:53
become more of APR firm than a bank?
28:56
Remember back when we were on the gold standard?
28:58
No, I don't 'cause I was one year old when Nixon took us off
29:01
to go. But when we were back on the
29:03
gold standard, I've talked to some older people, people that
29:06
have been around. Nobody cared about the Fed
29:08
really, back in the 60s and 50s, right?
29:11
Because we were on the gold standard, we had our money
29:14
tethered to something real. And by the way, it worked pretty
29:18
darn well, right? Jeez.
29:20
OK, let's get to the part about silver here.
29:24
We're going to speed, read Spot gold continues to show strength,
29:28
blah, blah, blah. Turning to silver, here we go.
29:32
Let's see what they say about silver.
29:34
This is the good part. Turning to silver, Horreias
29:38
analyst That reminds me, like a Greek God or something, said
29:42
that the Gray metal appears to be rising on the back of the
29:45
strong performance of the other metals as of late because silver
29:51
lags gold. We've heard about that over and
29:53
over. The price of silver rose above
29:56
$27.00 an ounce last week after having struggled relative to
29:59
gold over the past two months, they wrote.
30:02
Silver appears to have benefited from both the investment,
30:06
consumer and industrial demand sectors, each making up about
30:12
50% of the total silver demand. The copper price has risen
30:16
steadily thanks to concerns over tightening supply.
30:20
Where copper goes, silver tends to follow.
30:23
Now, I've never really heard that, I guess from an industrial
30:26
perspective. Oh, here's a chart we can look
30:28
at. Look at that guys.
30:30
Well, I guess they're right. There is a good relationship
30:35
between silver and copper. I didn't realize that.
30:37
We just learned something together.
30:40
We know there's a a big relationship, a big Co relation
30:44
between silver and gold. We know that that relationship
30:50
has been a little rocky lately. Gold's kind of taken off and
30:54
left silver in the dust, right that gold to silver ratio.
30:57
It's like a big giant rubber band that expanded that.
31:00
It took almost at 1.90 or 95 ounces of silver to buy one
31:05
ounce of gold. We know that when you stretch a
31:07
rubber band or a bungee cord, if you think of the gold to silver
31:10
ratio, is that out too far? Eventually, it's not going to
31:14
break. These are God's money, silver
31:16
and gold. No, it comes flying back and we
31:18
get a slingshot move. Are we in for that now?
31:23
You know the Chinese. Did I mention to you the Chinese
31:26
happen to think that silver's worth $30.50 per oz.
31:31
But what do they know right? They're just the biggest, second
31:35
biggest economy in the world. All right, let's read this.
31:37
Silver. Silver is a higher beta
31:40
commodity than gold. That means it moves more
31:42
radically higher beta. So if retail investors show more
31:47
interest as ETF holdings rise, then it will outperform gold.
31:52
Whoa, stop the presses. OK, I'm so sick.
31:57
Are you sick of this? Basement dwellers hearing people
31:59
say, well investor demand in the West for gold and silver are
32:02
down. People are, you know people.
32:05
They're using the SLVETF. By the way, I'm hearing this
32:08
from inside baseball type people.
32:13
They're using the SLVETF to suck physical out of the market
32:17
because there's physical silver being sucked out of the Comex.
32:20
The the, the the the LBMA and it's, it's and they're using now
32:25
the SLV to acquire because if you have millions and millions
32:29
of shares you can actually get physical delivery.
32:32
But but guys, this is the beauty.
32:35
This is happy time. Time to smile.
32:38
Everybody smile with me because you know what?
32:41
When just the smallest amount of investor demand for silver shows
32:45
back up, even though we don't like the SLVETF, but when people
32:50
do those other people start to buy it.
32:53
It could create massive, I mean massive, massive demand for for
32:58
the physical metal. And James Anderson, he pointed
33:02
this out this morning. Last name I'll drop.
33:04
I'm sorry, but the he's a super smart guy.
33:07
We had an awesome conversation. He pointed out that like that
33:10
retail investor level of silver is just a really small layer of
33:16
the overall silver demand picture.
33:19
OK? And it doesn't take a lot for
33:21
that to get wiped out. We know what happened during
33:24
C19, right? We know what happened during the
33:28
Silver Squeeze a year later. We know what happened just one
33:31
year ago when we had that little bitty banking crisis that nobody
33:35
wants to talk about anymore. We're three of the four largest
33:38
banks in the history of the universe.
33:40
Well, history of the United States.
33:42
But, hey, we're the universe, right?
33:44
Huh. Well, anyhow, history of the
33:46
universe collapsed, right? Silver went bye bye.
33:48
You couldn't get Silver. All right, let's finish this up.
33:51
Additionally, and in contrast to the gold market, silver
33:55
investors re entered the market for ETFs.
33:57
Oh, with 10.7 million ounces of of inflows in the last
34:02
fortnight. What the heck's a fortnight?
34:04
My kids play a game on their tablets and computer called
34:07
Fortnite. That's a Fortnite last night.
34:09
Last week, I don't know, taking total silver ETF holdings 3%
34:14
higher year to date at 720. OK, so Oh my gosh, it finally,
34:19
oh, there's the chart. Look, OK.
34:22
OK. I wish we could look longer back
34:25
than 2018, but we are now in an uptrend silver.
34:31
Oh, no, no, no, no. Hold on here.
34:34
OK. OK.
34:35
The shaded part is ETF holdings. I stand corrected.
34:40
OK. The line that you see that
34:43
obviously that's the silver price.
34:45
Look at this. OK.
34:48
That would have been a billion ounces in 2021.
34:51
We're now down, down, down. Do you see that?
34:54
Hopefully you can see that all the way down to today where
34:57
we're at, maybe what we went up a little bit, just a little bit.
35:01
But we're down to, I don't know, I'd say about 700 million oz.
35:06
Think about if we just get back to a a a billion oz.
35:09
I mean, it could be crazy. All right, hold on.
35:13
What do I do here? Think I click on this maybe.
35:16
All right. Yeah.
35:17
All right. Thank you.
35:18
Basement dwellers The analysts said that industrial This is a
35:21
great article. Industrial demand for silver is
35:24
also expected to rise this year, based on recent strong
35:29
manufacturing data from the United States and China.
35:32
In addition to burgeoning Chinese solar installations,
35:37
what about India? Eisenhower, Huh.
35:39
Right. Spot silver also saw a run up
35:42
above 28 per oz in overnight trading, but it has since
35:45
followed gold prices lower last trading at 2730 an ounce.
35:51
Let's we got something big. We got something big, big, big
35:54
to talk about here, but let's just let's just one more time
35:58
today, OK? Silver 2772.
36:03
Green, Green. Green.
36:04
Green is good. Platinum.
36:05
Come on Platinum, get above 1000, will you please?
36:09
OK. Here.
36:12
Here's what I want to point out. OK.
36:13
Yes, the Chinese guys, the reality is they are taking all
36:18
of our silver and gold. There's a great political
36:20
cartoon and wish I could find it.
36:22
It's China on one side, USA on the other in a wall down the
36:27
middle. And the Chinese are throwing
36:28
over bundles of U.S. dollars. And the Chinese are throwing.
36:34
Wait a minute. Yeah, the Chinese are throwing
36:36
bundles of U.S. dollars. They don't want the paper
36:38
dollars. OK, over the wall in the United
36:41
States is are throwing bars of silver and gold at China.
36:46
But it's not just China. Who did we forget to talk about
36:50
here? We forgot to talk about India as
36:52
well. They're they're building solar
36:55
farms in India that are like the biggest in the world.
36:58
One of them's up near the Pakistan border, and it's
37:02
actually this one solar farm is bigger than Manhattan, OK?
37:07
And remember each and every solar panel, Every time you
37:10
drive by, I want what time for smiles again.
37:13
When you're out driving around on your motorcycle or your car,
37:16
or you're flying in an airplane, or you're walking, or you're
37:19
riding your bike, I don't care how you move.
37:21
But when you move in, your movements bring you by solar
37:25
panels, whether they're on your neighbor's roof, your roof in a
37:29
solar farm. We got a couple of them here in
37:31
Missouri off Hwy. 70. Look at each one of those panels
37:35
and give it a great big smile, because that is silver.
37:38
Silver is critical for the solar industry.
37:42
Photovoltaic, if you want to sound sophisticated.
37:45
That's the reality. OK, let's bring it back here.
37:48
My friend. 600 basement dwellers, thank you for being
37:52
here. If we get to please, if we get
37:55
to 300, thumbs up. I don't know where we are.
37:57
I can't see. And Susie's out driving the
37:59
tractor around. Somebody let me know and I'll
38:01
ring the gong. I forgot to ring the gong the
38:03
other day. But last night I was on the
38:05
radio talking with Pat Holland from the Missouri Freedom
38:09
Initiative, speaking with Daniel Diaz from the Citizens for Sound
38:15
Money. Before I came on, they had Rob
38:19
Keats, right? You know, Rob Keats, super smart
38:21
guy. And then before him was Dunnigan
38:24
Kaiser. Well, I was talking with these
38:26
guys. I mean, there's so much going on
38:29
out there in the silver and gold world right now.
38:32
But I was talking with Pat and Daniel and and, you know, let's
38:37
think about this for a second. Think about the world,
38:40
everybody. Here's, here's a bit of good
38:44
news. More good news, more smile.
38:46
It's Monday. We're smiling.
38:47
Silver and gold are still green. More good news.
38:51
The whole world is beginning to recognize the value of silver
38:56
and gold. Re.
38:57
Recognize re. You know, the United States kind
39:00
of bullied the world. OK, we got 300 bikes.
39:03
I'm going to ring the gong. Thank you, Jake.
39:06
But the United States bullied the world for the last 50 years.
39:09
We're the Hegemony. I can't say that word either.
39:11
That's another one that drives Susie crazy.
39:13
Hegemony. We were the world power.
39:15
Maybe I should say it that way. We ruled the world.
39:19
We were anti gold and silver. The rest of the world, the whole
39:23
world. The whole planet is now
39:27
reclaiming re recognizing awakening.
39:32
It never went away. The value of silver and gold,
39:36
it's going on, on a worldwide basis.
39:38
Where's my note? OK, The only place, the only
39:42
place that it's not going on is at a federal level in the United
39:46
States. A federal level, because on a
39:49
state by state level, we got a wave of legislation, legal
39:53
tender legislation. So the whole world.
39:57
But then the United States federal government.
39:58
No, no, no gold, no Selva you need.
40:02
You need this stuff. This is valuable.
40:05
This is valuable. I won't go there.
40:07
OK. But then on a state by state
40:10
basis, oh, Missouri. Oh, you know, although there's
40:14
like 25 states that have either passed or are in the process of
40:19
working on passing legal tender legislation and then on a
40:24
personal basis, all the people in the world, you and me, we
40:29
have recognized there is big move, guys.
40:31
It is real. It is happening and it's
40:35
happening right now. And again, it's about Oz.
40:39
It's not necessarily about, oh, it's worth this much in US.
40:42
Who cares? Who cares?
40:45
OK, Did anybody care about how much an ounce of silver or gold
40:50
was worth in AUS dollar 400 years ago?
40:54
No. They'd be like, what's AUS
40:56
Dollar likely 400 years from now?
41:00
You know, maybe I'm wrong. I probably won't be alive.
41:03
But will your great, great, great, great, great, great,
41:07
great, great, great, great, great, great great
41:10
grandchildren. Will they know what AUS Dollar
41:13
is? I'll tell you what they will
41:16
know is if that silver or gold that you have gets passed down
41:21
and nobody converts it into anything else, they'll they'll
41:24
know what that is, and they'll be thanking you for it.
41:27
No doubt about it. All right, guys.
41:29
Thank you for being here today. You're the best.
41:31
What did I forget? Thank you for the Super chats.
41:33
Thank you for the thumbs up. Thank you for subscribing.
41:36
Thank you for going to ronsbasement.com and
41:39
registering. Oh, my gosh.
41:41
Hold on, Hold on. Yeah.
41:42
Carlos, hold on. Carlos.
41:47
Carlos, hold on. Carlos, just put a comment said
41:52
get your weight in silver. I've heard it said that in
41:56
India, the grandparents tell the grandchildren you should you
42:00
should own your body weight in silver and there's not enough
42:05
silver to go around. Own your body weight in silver
42:09
and own as much gold as you possibly can.
42:12
Let's ring the gong for you. 600 people, 300 thumbs up.
42:15
Thank you, Jake. Thank you to all the moderators.
42:18
Hold on, hold on, hold on. Do me a favor.
42:24
I'm doing it. Type 88IS for the those that
42:28
moderate and those that moderate are great.
42:30
They make all this possible. Time for us to ring the gong for
42:34
300. Thumbs up.
42:35
I got a smile. Smile with me.
42:38
It feels good. All right, guys, have a great
42:49
day. On behalf of Susie and myself,
42:52
all the moderators, all the basement dwellers, the ones of
42:55
you who've been around here now for years, the ones of you who
42:58
maybe just joined us today. Thank you.
43:00
OK. Be nice to yourself.
43:02
That's the best place to start. And I'll look forward to seeing
43:05
you soon.