Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🎯 Breaking News: Philly Fed Hails Gold Standard! What This Means for Silver Investors 🔍💰

Transcript

🎯 Breaking News: Philly Fed Hails Gold Standard! What This Means for Silver Investors 🔍💰 · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
This is big news when a Federal Reserve Bank is talking about
0:05
the gold standard. $10,000 gold. Fifteen $20,000 gold.
0:11
Where can the silver price go? Which Federal Reserve Bank is
0:15
talking about the gold standard? This is shocking news.
0:19
But don't worry, we've got more. We're going to talk about some
0:22
major doom going on in the economy right now.
0:26
A former Treasury Secretary pointed out something absolutely
0:31
startling about inflation. And we have big news about the
0:35
debt level as well. Hey, thank you for being here.
0:38
This is the big Ron's Basement Basement Dweller Community
0:43
Easter Weekend live stream. So it's a big deal that you've
0:46
decided to join me. Thank you for being here.
0:48
Please give this a thumbs up. You can subscribe to the channel
0:51
to get a new piece of content every single day about gold and
0:55
silver and super. Chats are never expected, but
0:58
always super appreciated. Hey, I want to give you a big
1:02
announcement. Let's start with that.
1:04
OK. Monday, I've got a big
1:07
announcement for you. Regarding what The silver and
1:10
gold price very likely or possibly could be in one year.
1:16
Yes, our friend Don wedding. Now this guy is super smart.
1:20
OK, let me pull up his website for you real quick.
1:23
You got to check this guy out and he graciously put together a
1:29
huge piece of research regarding regarding.
1:34
Here's his company, DKW Analytics Data Science
1:38
Consulting. I don't know if you participated
1:41
or not, but he put together a video.
1:43
We put together a video where we solicited from you, the basement
1:48
to other community your predictions on what the silver
1:51
price and gold price will be in one year.
1:54
He spent a lot of time, a lot of effort.
1:56
He's an expert, OK? I mean listen to this analytics
2:01
consulting firm with expertise in all areas of data science,
2:06
ranging from traditional statistical analysis to more
2:08
advanced techniques, techniques including machine learning and
2:14
artificial intelligence. So we put together, or he put
2:18
together a huge amount of data from you and then applied these
2:23
data science techniques to come up with a prediction, I guess we
2:28
would say based upon his methods.
2:30
Now look, we aren't giving financial advice, Let's say that
2:33
right off the bat. But he used the wisdom of the
2:35
crowd and some other methods to come up with what the silver
2:39
price and gold price could likely be one year from now.
2:44
So that'll be Monday during the live stream at 10:30.
2:49
Let me just show you. And he also, I mean, this guy is
2:52
very sharp and so nice. Such a wonderful, nice guy.
2:56
First time he called me, first time I talked to him, I was
2:58
actually at the Great Wolf Lodge and serious back pain.
3:01
I'll never forget talking down. Like I don't want to talk to
3:03
anybody, whatever. But I talked to this guy.
3:06
He is, he's a basement dweller. He's super smart, right?
3:09
He actually teaches statistics at Northwestern University.
3:15
OK, so we're very, very lucky to have him and the work that he
3:19
put in. And again, that'll be during the
3:21
Monday at 10:30 live stream where we're going to talk about
3:25
what his data is showing regarding what the gold and
3:28
silver price could be in one year.
3:30
It'll be super interesting, but let's dive right in, guys.
3:34
We've got a Fed bank, Philadelphia, talking about the
3:40
gold standard. This is just absolutely crazy.
3:45
Let's go to that article right now.
3:50
Here we go. I've got this all highlighted
3:53
and ready to go. What does this mean if the
3:57
Philadelphia Fed is putting out a research paper about the gold
4:01
standard minimum? I haven't heard the Fed talk
4:04
about the gold standard forever, right, John?
4:07
Extra Extra's pyramid. We'll talk more about that
4:10
later. But that was the last time.
4:12
What does this mean? What I mean, we know there's new
4:14
attention. It's starting to percolate.
4:17
On the horrific fiscal situation that we face here in the United
4:21
States, and we've got an article here from the New York Sun, OK,
4:25
it says. A new study just issued by the
4:27
Federal Reserve Bank of Philadelphia finds that a gold
4:31
standard ensures long term price stability.
4:36
Will somebody let Congress know? I'll say OK, next it says the
4:40
collapse today in the value of the dollar to a record low in
4:44
terms of gold, right? Remember since 1971 the dollars
4:47
lost 98% of its value against gold.
4:50
Prompts us to turn a just issued report from the.
4:54
Federal Reserve Bank of Philadelphia.
4:57
It has come out with a study touting gold.
4:59
Now when they're talking about gold.
5:02
We know they're also talking about silver.
5:04
They aren't talking about going back on the silver standard,
5:07
which worked really well for the United States for hundreds of
5:10
years. We actually achieved all this
5:12
supposed well, real greatness during a period of time where we
5:17
had a bimetallic standard. Our silver was part of backing
5:21
our money gold, which is the classical measure of monetary.
5:25
Value as a vehicle to achieve stable prices.
5:30
Wait till you. Hear what Larry Summers, the
5:32
71st Treasury Secretary of the United States, had to say about
5:37
inflation, because we certainly don't have stable prices right
5:41
now. It says the key finding of the
5:43
Fed's paper Is that the gold standard quote.
5:46
Ensures long term price stability.
5:48
That's hardly news to those who have long stressed that a gold
5:51
standard defining the dollar as a fixed weight of gold has
5:56
historically been the best means to to hold prices steady.
6:00
This from a regional bank talking about the the
6:04
Philadelphia Federal Reserve Bank that is part of the Federal
6:07
Reserve and was headed by Ben Bernacca, who infamously said if
6:13
you look at actual history of the gold standard, it didn't
6:15
work. Well, I don't.
6:17
I bet to me that's I never liked Ben Bernac.
6:20
And to be honest with you, I don't know how you feel about
6:23
Jeremy Powell, Gomer, Pyle, whatever you want to call him,
6:25
the current head of the Federal Reserve.
6:27
I'm not a big fan of his either. I would argue, would you argue
6:31
the gold standard? When we had silver also in our
6:34
money, that was the period of time when America achieved
6:38
greatness. When I talked with Rob Keats
6:40
couple months ago, I asked him about that.
6:42
He said. I have a whole section in my
6:44
book about that any society, not just the United States, has
6:48
achieved greatness when they were, when they were backing
6:50
their money with silver and gold.
6:52
Mr. Burnak's disdain for gold for the gold standard reflects
6:56
the conventional wisdom in the academic and financial worlds
7:00
since America abandoned the last vestige.
7:04
Of the gold standard in 1971, Let me remind you that President
7:08
Nixon, you know, when he announced it, he said.
7:10
We are temporarily. Taking the United States off the
7:13
gold standard. That period ushered in the age
7:18
of the Fiat dollar. Well, I need to send a note to
7:21
these people and let them know for the hundred likes.
7:27
Oh, all right. I have to break in.
7:28
I just had news from Susie on the walkie-talkie.
7:30
We've got 100 likes. Let me go back.
7:33
I'm going to. We're doing something new, guys.
7:36
Yeah, things are changing a little bit.
7:38
We're using the pinger today. I'm going to ping for you a
7:42
peace dollar. See if you can see that.
7:45
And I'm not sponsored by the pocket pinger.
7:47
I just think it's really cool. So I'm going to ring it 10 times
7:49
for you basement dwellers for the 100 thumbs up, right.
7:53
That's the way we show our our love for each other.
7:55
And it's OK to say that we love each other.
7:57
What the heck, We're going to talk about Easter in a second
7:59
here, too. I'm wearing this Susie this
8:01
morning. He's like wearing Easter shirt.
8:03
I'm like, what's an Easter shirt?
8:05
I don't have any Easter shirts. I don't have shirts with bunnies
8:07
on them. She said wear your yellow shirt
8:09
so you can thank Susie for this yellow shirt today. 10 Dangs of
8:13
the pocket pinger of a 1925 peace dollar.
8:30
I think that's called resonating.
8:32
Isn't that I? Just blows me away.
8:34
The gong does that too. OK, let's get back to this
8:36
article. Then we'll talk about Easter
8:39
Papa. Here we go.
8:42
Here we go. OK, since the dollar.
8:45
Yeah, so the dollar. OK, I heard this.
8:47
I've heard this being said. Have you heard this Lately?
8:50
The dollar's value has plummeted to to less than added in its
8:55
record today, $1.00. I mean, it's obvious, but I've
8:58
never heard it said this way. $1.00 is worth 1-2 thousand,
9:03
200th of an ounce of gold, right?
9:05
Because each ounce of gold cost $2200.
9:09
Then they talk about inflation. We're going to talk more.
9:11
We got shocking news on that under gold.
9:13
The authors at Excuse Me? Inflation and deflation are
9:18
merely temporary phenomena. The Fed working paper
9:21
corresponds with America's historical experience with the
9:24
gold. Standard economist Michael
9:28
Bordeaux, whose work is cited in the Scholars Study, has observed
9:32
how in the heyday of America's gold.
9:34
Standard between 1879 and 1913. Inflation here was held down to
9:41
an average of but point 1% a year.
9:45
That's a little better than the 10%, which is about, I believe,
9:49
100 times higher that we had officially a few years back.
9:52
But that's all a sham because Larry Summers, the 71st Treasury
9:56
Secretary of the United States of America, pointed out
9:59
something very interesting that we're going to cover a little
10:01
later, a performance that puts the feds to shame, finally.
10:06
Jeez. Thanks for being with me today,
10:09
basement dwellers. By the way.
10:10
It's worth noting that the working study vindicating gold
10:15
as a means to keep prices stable came out of Philadelphia.
10:18
That's where Washington signed the Coinage Act of 1790.
10:22
Two, which established silver, silver and gold as America's
10:29
money. The Philadelphia Federal Reserve
10:32
study concedes that its findings constitute, quote, preliminary
10:36
research that is being circulated for discussion
10:39
purposes Well, at work 'cause we're.
10:42
Discussing it me and all these super smart, one-of-a-kind
10:46
unique basement dwellers who are here in the basement today
10:49
hanging out talking about silver and gold when it comes to a
10:52
role. For gold in America's monetary
10:55
system, there is much to discuss.
10:58
I think the Russians might want to discuss that with us as well.
11:02
Maybe the Chinese, maybe the Brazilians, maybe India, maybe
11:06
South Africa, maybe Saudi Arabia, maybe Egypt, Ethiopia,
11:12
United Arab Emirates. And there's one more in there,
11:14
Iran, I think they want to talk about this as well.
11:17
So way to go. Philadelphia Fed, Very, very
11:21
interesting. You know what?
11:23
Let's go right here. Wait a minute.
11:25
Is it on there? Yeah.
11:26
You see it? So yesterday.
11:28
Do you have that? It's Easter.
11:30
Happy Easter Bunny. It's the Easter Bunny.
11:33
That's my front yard. That's our giant 18 foot tall
11:37
wooden Easter Bunny. OK, I exaggerated.
11:39
He's only 6 feet tall. But yesterday I was working all
11:42
morning every year. She usually wants me to haul
11:44
that thing up from down here in the basement.
11:46
He sits back behind the front and she said you ain't going to
11:48
put the Easter Bunny up. And you.
11:50
It was the sigh that you, if you heard a weird noise that went
11:54
like like a sigh, that was me, 'cause I didn't want to do it.
11:59
I just didn't want to do it, OK? As you can see back by his hips,
12:03
I have to get rebar out, sledgehammer the whole 9 yards.
12:06
Guys, I don't know if you're anything like me.
12:08
Sometimes your spouse, your significant other, whoever it
12:11
is, ask you to do something. And I was like, Oh no, it took
12:15
me like 10 minutes and I got done and I thought, why do I
12:18
complain so much about this? And the kids had ridden their
12:21
bikes, the Panera Bread, to get some lunch and they came home.
12:24
And my daughter Evelyn really touched me, 'cause she came in.
12:26
She said thank you, daddy, for putting up the Easter Bunny,
12:29
'cause even though she's 12 years old, she still wanted that
12:32
Easter Bunny. I got a great Easter tip for you
12:35
too, if you have little kids. I I'm.
12:37
I'll say that one later. We're going to move on to more
12:40
silver and gold related stuff. But yeah, there's the old Easter
12:44
Bunny. Oh, I forgot.
12:45
He's still up. You guys want to see me?
12:47
Easter shirt. Easter shirt.
12:51
OK, where was I? All right, we talked about that.
12:56
We talked about that. OK Oh, extras.
12:58
Pyramid. Are they looking at extras
12:59
Pyramid. We got to show that real quick.
13:01
The Philadelphia Fed. Bear with me.
13:04
Let's get through. There we go.
13:06
OK, is that what the Philadelphia Fed's looking at?
13:09
At the gold standard? Remember, this came from John
13:11
Extra, who worked for the New York Federal Reserve and just
13:14
died a couple decades ago. He spent his entire career
13:18
espousing the benefits of the silver and gold standard in this
13:22
extras pyramid. I know it's fun to look at for
13:25
all of us, right? Remember base money, bank money,
13:29
government bonds, corporate bonds, non monetary commodities,
13:33
derivatives, and this chart even says crypto currencies.
13:36
That's up for debate none the less.
13:38
All that I I can't say. This everything above silver and
13:42
gold. And I think those people at the
13:44
Federal Reserve in Philadelphia know this.
13:46
Everything above silver and gold is synthetic.
13:49
If you notice that man made paper money, bank money.
13:52
I won't go through the whole list.
13:53
Silver and gold are the only real tangible assets in this
13:58
graph. And the exciting thing about
14:00
this, think about this. Look at that.
14:02
OK, Look at derivatives, Look at all the things at the top.
14:05
They are huge. Huge compared to the little bit
14:09
of actual physical gold and silver in the world.
14:12
When those things start to slowly, and it probably isn't
14:15
going to happen all at once, But when the bank money, when the
14:18
debt, when the derivatives, God forbid, start to implode and a
14:22
little bit of all that money starts to funnel its way back
14:25
down to that little bitty, a bit of gold and silver.
14:29
It doesn't. Take a lot for that to make a
14:31
massive, massive difference. It's going to be crazy.
14:34
It's going to be interesting. And yeah, yeah.
14:37
I also want to say thanks to another basement dweller, Don
14:40
the Brain. He helped set up our website,
14:43
ronsbasement.com. There's a chat room there, but I
14:46
want to say something about this guy that I need to.
14:49
Share with you. And that is that almost four or
14:52
five days a week. He sends me the most supportive
14:55
nice emails and I'm going to tell you that goes a long, long
14:58
way. I really appreciate that And he
15:00
gives me tips on how I can improve and but just a super
15:03
nice guy. So thank you Don the brain.
15:05
Thank you. Two, for being here today.
15:07
Thank you to all the moderators who are here today.
15:10
Susie, this is Susie's house. And again, you can thank her for
15:13
this. Suppose that.
15:14
I guess this is an Easter shirt. Whatever.
15:17
Yeah, Easter shirt that I'm wearing.
15:20
We are doomed. You want to hear some doom?
15:22
Guys? You ready for some doom?
15:24
We're doomed. And it spells relief.
15:29
For you, I mean, we don't want you don't want bad things to
15:31
happen. But it spells relief for you as
15:34
a silver and gold investors. Larry Summers, who was the 71st
15:39
United States of America Treasury Secretary.
15:43
Told us this is. Crazy and and and and.
15:46
Immensely interesting. And this has been published
15:49
everywhere. OK, even in Forbes.
15:51
That inflation in 2022, and I have a graph that is going to
15:55
blow your mind on this one. But that inflation in 2022 was
16:00
really more almost like 20%. OK, here's what Forbes says.
16:05
Summers inflation reached 18%. So I exaggerated.
16:09
A little bit. You can round 18 up to 20,
16:12
right? No big deal.
16:13
I stand corrected. Forbes says that Summers said
16:17
that inflation reached 18% in 2022 using the government's
16:22
previous formula. Amen, Amen, Sorry I yelled.
16:27
Amen. Hallelujah.
16:28
I'm going to try to stop talking so loud.
16:30
I'm working on that. And I'm not going to say OK or
16:33
quote, quote, this is from Forbes.
16:36
Numerous commentators, especially those defending
16:40
President Biden's economic record, have had been puzzled
16:46
over why Americans are sour. About the state of the US
16:50
economy, Unemployment rates have returned to pre pandemic lows.
16:55
Yeah, because everybody's got to get two or three or four jobs.
16:59
I digress. Commentators correctly point
17:02
out, and the official rate of inflation is declining.
17:07
Inflation's coming down. You should be happy, right?
17:11
Yeah, except those jobs. All those jobs, right?
17:15
They don't pay. They don't pay enough to
17:17
compensate for all the inflation.
17:18
And we're going to see that here in a second.
17:20
So why are Americans ignoring the view of many experts?
17:26
I might add biased experts, that the economy is doing well, Duh.
17:31
Maybe it's because prices have already gone.
17:35
Through the roof. Right.
17:36
Prices shot up. Crazy, You know that?
17:39
I know that. OK, So now all of a sudden
17:42
they're going to say now that prices have shot up 25, thirty
17:46
40% in many instances. Now that they're up there and
17:50
they're going to say, well, now they're just going up by two or
17:53
three percent. Well, no joke, right?
17:56
Because a loaf of bread went from a dollar to $1.40.
18:01
Oh, OK well, that really hurt. That hurt Americans, right?
18:05
And now? Over.
18:06
The last year it just went from $1.40 to $1.50.
18:09
Well, it still went from a dollar to $1.50 in the last
18:13
three years. OK.
18:14
And I I want to show you this chart, OK.
18:16
And it's same thing with housing.
18:18
Fuel, cars, Internet, everything except silver.
18:26
We're going to talk about that as well.
18:27
But let me pull up this chart and this.
18:29
This will show you. Hold on here.
18:34
As I always say, bear with me. Here's the chart.
18:37
OK, look at this chart. And this is from Dario Perkins.
18:41
He put this out on, what's that called, X.
18:44
OK, hope this helps. So these are prices.
18:49
Oh, darn did I. OK, these are food prices.
18:53
So back in 2018, about at about 100.
18:56
And all those different colors are.
18:59
Oops, shoot, there's our friends.
19:03
Oh, those the four stooges. Sorry, I digress.
19:07
That's food. OK.
19:08
In different countries, Yes. OK, which one?
19:11
I can't see. This is horrible.
19:12
OK, United States is the blue one.
19:14
So 2018, It starts at about 100, right?
19:18
So let's say the $100 worth of groceries stays steady. 2022,
19:23
What happens? It goes from around 100.
19:27
Whoop, whoop. All the way up in one year to
19:30
125. So it cost you $100 on average
19:34
in 2022. At the beginning.
19:37
By the end of the year cost you $125.00.
19:41
OK, and now they're bragging. This is the bit that economists
19:45
care about. Oh well, look over the last
19:47
year, we've got inflation under control.
19:49
Well, that's great. But what about this?
19:52
OK, because incomes didn't go up like that.
19:55
If they did, it's because right here, maybe you went from having
20:00
a one full time job to now driving Uber and delivering Taco
20:04
Bell to drunk college kids on the weekend, right?
20:07
You get two and three jobs. So that's the problem.
20:10
We're not buying it. Sorry.
20:12
You know, uh oh, I screwed something up.
20:14
OK, we're back. Oh.
20:19
Welcome to Ron's Basement. Yep, we do our best.
20:22
There's more I wanted to say about Food Chart.
20:24
OK, here. And let's talk about and.
20:28
And is this why people don't trust the Fed back to that?
20:33
Here we go. That's the Easter Bunny I2I3.
20:40
Let's read what Carlos had to say.
20:42
He's a basement dweller. He put this comment on
20:44
yesterday's yesterday's live stream.
20:49
He says. I believe we are an amazing set
20:51
up. Now for silver and gold price,
20:53
real inflation is at 10%, OK. And that's what Larry Summers is
20:57
saying. And let me back up to this.
20:59
Larry Summers, Treasury Secretary, saying that if we
21:02
calculated inflation the same way we did back in the 80s, it
21:05
really would be close to 20%. A big component of that is
21:09
financing cost, right? And that's real.
21:11
Remember yesterday we had a chart that showed the amount of
21:14
interest payments that individuals are making.
21:17
I mean, these things are like, unbelievable.
21:20
Charts. They're just off the charts.
21:22
I mean, straight up. OK.
21:25
So anyway, real inflation is at 10%, interest rates at 5%, real
21:29
loss equals 5%, right? Inflation's -10, Yes, you're
21:33
losing 5%, so why just get 5? Why?
21:37
Why just get 5%? Need much higher return like
21:40
gold and silver? Thank you, Carlos.
21:43
Instead of low rates, people will start investing in gold.
21:45
It's up 5% a month or 60% a year.
21:48
Gold and silver and all tangible commodities are in an Austrian
21:52
crack up. Boom, right?
21:54
That's Austrian economics. No one trusts the Fiat
21:58
currencies, Carlos. From now on, when you say Fiat,
22:00
you have to put Unicorn fart dust in parentheses.
22:03
They can't raise interest rates. This is the.
22:06
Key and I agree with Carlos on this 100%.
22:09
Hold on, I'll be right back. Don't leave me.
22:16
And I got Susie mooing at me. Moo moo again for everybody.
22:20
Susie, hold on. I will ring the cowbell in one
22:28
second. I This is a critical point that
22:31
that has basement dwellers need to understand they can't the Fed
22:35
can't raise interest rates due to high debts, right?
22:38
Do I need to pull up the debt clock today?
22:40
We're going to skip that for a day.
22:41
We have debt, debt, government debt, corporate debt, personal
22:45
debt, debt, debt, debt, the whole world.
22:48
It cannot, it cannot tolerate any higher interest rates
22:53
without banks bailing. And we're going to talk about
22:55
that tomorrow because that's happening without the government
23:00
that they can't, they really cannot raise rates.
23:03
OK. But they can't lower rates
23:05
because no one will purchase the US Treasury debt.
23:08
The Fed's in a box, OK? the Fed is in a box, box, box.
23:13
You know what? Let's do it two days in A.
23:15
Row. Where is he?
23:16
Here he is. Hey, guys, remember this.
23:19
Remember this, right? There's inflation on one side, a
23:22
recession on the other, like we just talked about.
23:25
Who do you think's in the box? I'm not supposed to Not to open
23:28
it, but I'll open it. You know who's in that box?
23:32
Our old friend Jeremy Powell. And the only thing he can do to
23:35
solve that problem? See that pink thing in there?
23:38
That's a Unicorn. He can print more Unicorn fart
23:45
dust. That's the naughtiest F word
23:47
I'll ever use on my channel, Fart dust.
23:49
And that's all it is. That's when you look at the US
23:52
debt clock and you see $34 trillion and growing and growing
23:58
in a government that is that the interest, high interest rates,
24:01
that's adding even more to that debt and a government that is
24:06
spending way more money that is adding to that debt.
24:09
It all feeds together. It all feeds on each other.
24:12
It's a doom loop, OK? It's a doom loop.
24:16
And I'm going to tell you why right now this is.
24:18
Serious. This is big, big trouble because
24:21
that is a percentage of GDP in this country right now.
24:26
Is at 124% OK? Our previous peak was during
24:32
World War Two, 119%. But this is where it gets
24:36
absolutely, totally frightening and scary.
24:41
Since the 1800s, pretty much any country that ever went more than
24:47
130% debt to GDP went belly up. I think there were like 50
24:53
countries, OK, since the 1800s that have had their debt to GDP
24:58
ratio exceed 130% and pretty much every single one of them
25:03
except one. And I think that was England and
25:06
I think it had something to do with gold and letting gold fly.
25:10
Basically England was the only country that was able to escape
25:14
it and it had massive, as I understand it, price
25:17
consequences for gold. That's the situation that we're
25:22
in right now and it's a very, very conducive, Daniel.
25:26
For the Super. Chat Thank you Daniel for the
25:29
Super chat. Thank you Susie for the
25:30
reminder. It's a very, very dangerous
25:33
situation. Let me ring the cowbell here
25:35
because we got right 200 thumbs up and that's what we do.
25:41
Basement dwellers. And one more for Jake.
25:48
One more for our friend Jake from Jake's Custom parts.
25:51
And hey I've been forgetting the too much stuff I need a bigger
25:56
table too much stuff going on here Oh oh hopefully you guys
26:01
can still see me and hear me. I got a little clip a little
26:04
blip of anyway. Well if you can still see me and
26:06
hear me thank you to those that moderate please everybody here
26:13
we've got 500 almost 600 people type 8.
26:16
For those that help moderate they help take make that that
26:20
make the channel great. And I I want to apologize to
26:23
you. I owe you an apology.
26:25
This is a one man band. Susie helps me out with the old
26:29
walkie-talkie here. But we will have technical
26:32
difficulties. We will have trouble down here
26:34
in the basement. So hey, if you want an if you
26:37
have kids or you know somebody who has kids, listen up, because
26:40
I've got the absolute. And make sure if you've got kids
26:43
that are, let's say, under 8 years old, they are not
26:45
listening right now. Because I've got the best idea
26:48
for you, Something you can do for Easter that you'll always
26:52
remember and your kids will always remember.
26:54
And that's what life's all about.
26:57
You're only going to need two things, Eisenhower.
26:59
So get out your pen and paper and write these down.
27:01
You're going to need a Jelly Bean, OK?
27:05
Or Jelly beans. OK And you're going to need go
27:07
to the Walgreens, go to the dollar store, whatever, and buy
27:11
some big suckers. OK?
27:13
That's it. That's all you need.
27:15
And this is what you do. You take your little four or
27:17
five year old niece or nephew. Maybe you have grandkids.
27:19
Maybe you have kids and you go outside and you say we're going
27:23
to plant this is you do this on Saturday, so that would be
27:25
today. We're going to plant magic Jelly
27:28
beans. So and you got to have a ruler.
27:30
I'm sorry you had a third thing, a ruler.
27:32
OK, so you get and make you know, take out a take one of
27:35
your kitchen knives. Just don't let your wife or
27:37
significant other know that you're using it and you want to
27:39
dig a little. Hole, but it has to be exactly.
27:42
3/4 of an inch deep, OK And you dig your little hole with your
27:47
wife's kitchen knife that you're not telling her you're using.
27:49
Susie, you're not hearing this right now.
27:52
You take one of the Jelly beans and you give it to your little
27:54
niece or nephew and you say put that in the hole, so they stick
27:57
it down in the hole and you explain to them that that's a
28:00
magic Jelly Bean and it only works on Easter, OK?
28:04
And then later that night you put the little kids to sleep.
28:07
The earlier the better 'cause then you get a break, OK?
28:10
And when they're sleeping, you go outside, you take that Jelly
28:14
Bean out. If you decide to wash it off and
28:16
eat it, that's on you. And you take that sucker and you
28:20
stick it in the hole. And the next morning that little
28:22
kid wakes up and goes out to check on their magic Jelly Bean
28:25
and they see that it grew into a sucker.
28:28
I I I didn't make that up. I'm not going to take credit for
28:31
that. I saw that on one of the parent
28:33
websites before I did Ron's basement.
28:35
I was like Mr. Dad when my daughters were real little.
28:38
I was always, But that is the funnest thing to do.
28:40
Seriously, give it a try. You won't be disappointed.
28:44
Let's get back to silver and gold.
28:45
OK? All right, guys.
28:47
So yeah, we're in the situation right now, OK?
28:51
Remember, any country that's gone over 130% debt to GDP has
28:56
gone broke. Except for England, I think it
28:58
was. And and they did something with
29:00
gold. And gold like went
29:02
astronomically high during that period.
29:05
Right now we are at 124%. Let me ask you a question.
29:10
Do you think basement dwellers, do you think that suddenly our
29:15
government's going to get spending under control?
29:17
No, nobody's talking about it. I mean, we're talking about
29:21
going bust. Seriously, who was I talking to?
29:24
I was talking to one of one of you guys last night on the
29:26
phone. And I was like, it's like since
29:29
1971, the United States has like, been on a credit card
29:32
bench, right? Yeah.
29:35
But just spending recklessly like a college kid on a on a
29:41
drunken spring break trip, OK, And that doesn't last forever,
29:46
right? Eventually, American Express and
29:48
Visa and JP Morgan, right. They're gonna say, hey, you know
29:51
what, you're cut off. And is that what is happening?
29:54
Because we've been borrowing all that money from, right?
29:58
The BRICS countries, they're saying, no mas, no more.
30:01
OK, this is real. These these numbers are real.
30:05
This isn't just some crazy guy in his basement with a wooden
30:09
barrel in Saint Louis saying this.
30:11
These are people on now mainstream media that are
30:13
saying, hey, this is real. Who is the guy?
30:16
I got something else big. I need to tell you about this.
30:20
It's a doom loop. This is real, OK?
30:24
Just because it hasn't happened yet.
30:27
Doesn't mean it's not going to happen, right?
30:29
We're all victims to recency bias or normalcy bias, I might
30:33
say. You know, I'm not giving
30:35
financial advice, but you might want to consider converting some
30:38
of where is it? Hold on, I'll be right back.
30:41
I'm not leaving you 'cause I'm still here, this.
30:45
Last time I'll do this, show you one of these this this.
30:49
You might want to convert some of this into here, This right.
30:55
That's a That's a peace dollar. OK, you might Oh, look how shiny
31:01
it is. It's only 100 years old.
31:03
It still has all that value that it had 100 years ago.
31:09
Oh, hey, wait a minute. Wait.
31:10
Let's do an experiment. I have this thing in this hand
31:14
and this in this hand. They're both called dollars.
31:18
Which one do I want? Ding, Ding, Ding, Ding, Ding,
31:21
right. That's the one we want.
31:22
We're not stupid. Thank you, Metal Sear.
31:27
Thank you. Ronald Reagan was big on Jelly
31:29
beans. Do the magic Jelly Bean thing.
31:31
I'm telling you that little kids think it's cool.
31:33
You can plant like five of them and then line you know 5 like
31:36
like the bean. Sprouts overnight and turns into
31:39
a sucker. OK, no more Easter talk.
31:41
I promise. OK, hold on.
31:45
Page two. You wanna have a little break?
31:47
Let's all have a sip of coffee. I gotta.
31:48
I gotta have a sip of coffee. I'll be right.
31:50
I'm not leaving you. This is my State of Missouri
32:09
coffee mug. Susie got me that for Christmas
32:12
one year. Kind of looks like the Federal
32:14
Reserve. This is my Federal Reserve
32:16
coffee mug. I'm a big fan of the Fed.
32:18
I even have fed coffee mugs. Yeah, right, right, right.
32:21
You know, we've invited Jeremy Powell.
32:24
You know, Ben Bernac. And then what's that lady's
32:27
name? Hold on a minute.
32:28
Hold on a minute. I'll be right back.
32:33
Today we will cordially invite. Look at this is a pretty box.
32:38
Do not feed. Do not feed magic mushrooms.
32:41
When in China. We could invite her to come too,
32:44
right? I mean, do these people.
32:46
I've got it over there. I've got a calculator.
32:49
I'd be happy to show them how it works.
32:51
We'd be happy. Let's do this.
32:53
Let's do this real quick. OK, hold on here.
32:57
And thank you, Carlos. Right.
32:58
They can't raise rates because the interest costs are too high.
33:02
The debts will implode. They can't lower rates because
33:05
nobody wants it. All that's going to happen, you
33:08
know, Jerome and Janet, they're going to print money.
33:13
They're going to further dilute the dollar.
33:15
OK. And that will add even more
33:17
debt. It's, it's guys.
33:18
It's going to be absolutely crazy.
33:21
What was I going to show you? Not extras.
33:22
Pyramid. Not that.
33:24
Oh, yeah. Wait a minute.
33:26
Oh here. Let's just look at this real
33:27
quick confidence in the Fed near an all time low this was as of
33:31
2023 but none the less confidence in the chair of the
33:35
Federal Reserve. So goes back to goes to 2020
33:42
Alan Greenspan from 87 to O6. Look he was at 74 OK this is the
33:50
last 20 years 74 and there was a question.
33:54
Here it is percent of, I'm sorry, percent of respondents
33:58
with a quote great deal or quote fair amount a fair amount of
34:03
trust in the chair of the Federal Reserve.
34:06
Then we had Ben Bernac that. Guy.
34:08
This guy, at least was a little. Crazy and funny.
34:11
That guy just bugged me. I'm sorry.
34:13
OK, down. OK, then you had Janet Yellen.
34:17
OK, she kind of hung in there. Then Jeremy.
34:20
Powell, right. We've had him.
34:22
He got as high as 60%. Where is he now?
34:25
Actually, this was as of 2023. I bet it's even lower, 36%.
34:30
Was there another slide? Anyway, hold on, I'm screwing
34:35
up. I told you right, Welcome to AT
34:39
the. Stage here we go.
34:42
OK. Oh, yeah.
34:44
I know what we want to look at. Well, it's just not going to
34:46
work. Do we?
34:47
Do we really need to look at the debt clock?
34:48
I guess we will. We do it almost every day.
34:51
I lied, said we weren't going to do it.
34:54
U.S. debt clock. Here it comes.
34:59
Yeah, OK, we're up now. It's like it it seems to be
35:02
running about $10 billion a day. And I think that that doesn't
35:09
that the math work on that, that it's about then one trillion
35:13
every 100 days. I think it does.
35:15
Right. What's 100 times?
35:17
Yeah. It's a trillion.
35:19
That's so we're we're adding just $10 billion a day guys that
35:23
it's it's all going to work out though.
35:24
They're going to figure out some way.
35:26
No. They're going to have to print
35:27
money to finance this and that printed money right is going to
35:32
either is going to dilute the value of the US dollar and going
35:36
to be crazy, crazy times for the silver and gold price.
35:41
OK. It's all Fiat funny money
35:43
system, We know that. Here, let's go to this really
35:46
quick. Real quick.
35:48
We talked about it yesterday, but I want to read this
35:50
paragraph to you one more time. The the the Congressional Budget
35:55
Office. OK, that's a part of our
35:57
government warns the director warns dealt met dealt debt
36:03
market meltdown with the US debt on unprecedented trajectory.
36:07
Let's this is very quick. Last time OK, the director of
36:14
the Congressional Budget Office, Philip Swagle, issued a stark
36:18
warning that the United States could suffer a similar market
36:21
crisis as seen in the United Kingdom 18 months ago during
36:25
former Prime Minister Liz Truss's brief stint leading
36:28
Britain, Which briefly. Sent yields soaring.
36:31
OK, the what are they called over there?
36:33
Forget that they have a. Goofy name for their bonds.
36:35
Forget what they're called, not bones or I don't think it's
36:38
German anyway, sparked a run on the pound led to immediate
36:42
restart of QE by the Bank of England and a bailout of various
36:46
pension funds, not to mention the almost instant resignation
36:50
of trust, citing the nation's unprecedented fiscal trajectory.
36:55
Welcome to America 2020. 4 Unprecedented fiscal trajectory.
37:02
It doesn't end well, guys. I don't want to be the Johnny.
37:08
What's the guy? The Sky's falling.
37:09
Johnny Little running around. Tom Dude.
37:11
We don't want to put it doesn't end well.
37:13
We are in. We are. the Fed is boxed in a
37:16
corner like I showed you earlier.
37:18
Painted into a corner. The only thing they're going to
37:21
be able to do right is is is is diluted all away.
37:27
They're not going to let it crash if they let it either way.
37:29
They're they let it all crash or they dilute the dollar away.
37:33
I got news for you. Either way, if you're holding
37:36
silver or gold, what do you think's going to happen, right.
37:40
Yeah, you're going to be protected.
37:42
Just my opinion. Hey.
37:43
Oh, boy, oh boy, oh boy. I need to say thank you.
37:46
Thank you. Thank you To channel sponsor
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I don't know how to say this, but I'll just say it like I feel
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to have them sponsor Ron's basement.
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They've been very supportive of me on many levels.
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And they're just good, honest, like great people.
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I'll, I'll leave it at that. OK.
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And that I think is reflected in the service and prices that that
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38:38
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38:49
Let's ring the gong guys. We have 300 thumbs up and we're
38:52
not done. OK, We're not done.
38:55
Hold on one second. There's more shocking, shocking,
38:59
more shock. I'm going to shock you.
39:02
This is for. You, for being here, we got 300
39:05
thumbs up. Let's ring the gong. think it's
39:14
safe to say that, Ron, I don't know about you, but the way that
39:16
resonates is crazy. Now I work at a music school at
39:19
night and I was telling this really cool young violin
39:24
teacher, he actually has a PhD in philosophy.
39:27
He's very smart. Anyway, about the gong and he's
39:29
like you need to dip it in water.
39:30
Supposedly it does something crazy.
39:33
So one of these days I will dip the gong in water when it's
39:36
ringing. He I don't know where was I if I
39:39
done. It everything.
39:40
We've done it almost all. But we got even more shocking
39:43
information. It's Easter Saturday.
39:46
We got to be shocked a little more.
39:47
What do you say, basement dwellers?
39:49
Thank you. OK, Thank you.
39:51
Thank you. Because don't forget.
39:54
Don't forget. This is critical.
39:57
Hold on here. Oh darn it.
39:59
Did I forget to pull that up? I think I did.
40:02
Well, anyway, I can verbally. I remember.
40:05
This is coming from my brain. So consider the source.
40:08
Don't forget. I'll tell you what they're going
40:11
to do. They're going to liquidate
40:12
everything Silver and gold are going to.
40:14
Are going to be the, the, the. Value The real value.
40:18
Not the nominal. Value, the real value of silver,
40:22
the real value of gold will be recognized, will be realized,
40:26
because you know what they're going to do?
40:28
They're going to introduce CBD CS.
40:30
Everybody stop talking about CBD CS.
40:33
We're starting to bring it up a little more, right?
40:35
Basement dwellers, that's when you got to be careful.
40:37
When nobody's talking about, that's when they surprise you,
40:40
right? They're going to, they're going
40:42
to try to fix this situation with CBD, CS.
40:45
And what proof? Scary.
40:47
I mean absolutely scary proof. Do we have?
40:50
I'm going to share that with you after I take a sip of water.
40:57
Thank you for all the thumbs up. I'll tell you the proof, right?
41:00
Reuters put out a report this week.
41:03
This should be setting alarms off in the world of freedom
41:07
loving Americans, but they don't care.
41:09
You know why? And I'm watching it a little bit
41:11
too. They're too obsessed with
41:13
basketball. The Sweet 16, right, guys?
41:17
Reuters told us this week. The Swift system, that's the big
41:22
Western banking system. That's how all the money, all
41:26
the dollars get moved around, not just the United States, but
41:30
the world. It's the worldwide Dollar
41:33
transfer system and you can transfer other currencies as
41:36
well. But for all intensive purposes,
41:38
it's the worldwide dollar transfer.
41:40
The SWIFT system announced that within the next 12 to 24 months,
41:44
they intend to be basically completely ready to transact
41:50
with CBD CS. Let that sink in.
41:53
It's coming, it's coming. And then it's not.
41:56
They don't even have to print money.
41:58
This is going to go bye bye right.
42:00
It's going to go bye bye eventually anyway.
42:03
They don't even have to print money.
42:04
They can, they can just. They'll electronic.
42:06
It'll all be electronic. It'll all be.
42:09
There's all this fear, right? Right.
42:11
Like you know you'll be limited on what you can buy at the
42:13
store, you'll be limited on where you can travel, blah,
42:16
blah, blah. I don't know.
42:17
I don't want to be a, a, a. A conspiracy nut or not?
42:22
Not a conspiracy. That wasn't the right word.
42:26
A conspiracy. Somebody who's promoting that.
42:30
But that possibility we have to be aware that that could happen.
42:35
That's happened in China. That's happened.
42:36
You hear all this chart. What Schloss Wass.
42:39
I don't know then conspiracy theorist.
42:44
Thank you, Susie. Maybe I'll turn the
42:47
walkie-talkie off in a few moments.
42:48
Anyway, I don't want to be a conspiracy theorist, but there
42:51
are some people out there who are very afraid of the level of
42:54
surveillance and control that can be facilitated by a central
42:58
bank digital currency. OK, can they stop you from
43:02
stacking silver and gold? Now we've got certain.
43:05
States in the United States of America fighting back bravely,
43:10
right? We got people like Pat Holland.
43:12
Where the Heck's Pat Holland been?
43:14
We need to have Pat Holland back on the channel, the Missouri
43:16
Freedom Initiative. We got people like Daniel Diaz
43:20
OK with the Citizens for Sound Money, JP Cortez, right, people
43:25
that are working to further legislation in this country.
43:28
And it's I got news for you. It's happening.
43:31
Right. They're defending what your
43:33
founding fathers put in the Constitution that silver and
43:36
gold are real money and some of this legislation also includes
43:41
some of it anti CBDC or there are some states that are that
43:46
are drafting anti CBDC type legislation, the individual
43:52
states. And from what I understand
43:53
that's why the constitution was set up that way, is are are
43:56
working right? Do you live in a state?
43:58
I think there's like in total around 25 states that have some
44:03
level of either legal tender legislation that's already been
44:07
passed or are pending are working on legislation, working
44:12
it through the system to get it passed.
44:13
So that's the that's the story. Is that how they're going to try
44:17
to fix everything? Is that what they're going to
44:19
do? Right, CBDC, they can.
44:23
Print money. Oh, we need you know.
44:26
I mean, are we living in a fantasy world?
44:28
This this is from Big No, This is from Jake.
44:33
This. Hold on.
44:36
I'm going to get that on the It's so beautiful.
44:38
It's not fantasy world. All right, A1 oz American Silver
44:42
Eagle. All right, this is Fantasyland.
44:45
Let me show you. Hold on.
44:49
Hey, I got to tell you guys something really cool.
44:53
You need to get yourself a wood cedar barrel.
44:58
I'll tell the story one more time, but we were in Branson,
45:01
MO. Look at that thing.
45:03
It is really beautiful. And at this like craft mall,
45:07
backwoods thing, and there was this little shop in the back of
45:09
woodworker shop and this nice couple, they're like, we just
45:12
opened. We'll give you a 20% off
45:14
anything in the store, 'cause we really need money.
45:16
And then all these wood things. And I saw this, I don't does
45:19
this, has that ever happened to you where you just gravitate
45:22
towards something 'cause they had like slingshots, everything
45:24
made out of wood, everything you want.
45:26
I need to get that. I don't think they have a
45:28
website. I'm sure they don't.
45:29
This is like backwoods, but really cool.
45:31
And I said what about that barrel?
45:33
You know, I think it was $25 and it's a bank, see.
45:38
And anyway, she was like, yeah, she said there's a 95 year old
45:43
man. She said we actually don't make
45:45
those ourselves. There's a 95 year old man that
45:47
makes those barrels. And I'm telling you it is the
45:49
coolest thing ever. And that's not why I pulled it
45:51
out. I pulled it out well because I'm
45:53
going to fill this with constitutional silver last time.
45:56
I'll show you. But see?
45:58
Like the full size? Well, that's constitutional
46:01
silver, but full size coins won't fit in there,
46:03
unfortunately. This OK.
46:06
This is funny money. See what this says?
46:09
I want you to. I want you to.
46:10
Look at what this says. I stole that from my daughter's
46:16
Monopoly game. This is funny money.
46:20
This. I mean, is there really much
46:22
difference with this and this? I I beg the question, right?
46:27
I beg you, tell me what's the difference between this and
46:32
this? Right.
46:33
Obviously there's some difference, right, Right.
46:36
But there's there's there's there's much more difference.
46:40
Between this right, this 1925, I think it is Peace Dollar and
46:49
this right. These two are much more closely
46:52
related. OK, that than this.
46:55
This is far, far away. This is real money.
46:57
It's interesting. And you know it's really sad
47:00
because Americans are you part of the.
47:02
I don't Well you know you're not part of this.
47:05
But most Americans, the level of financial education in this
47:09
country, it's astounding. People don't know anything.
47:14
My kids are in 6th grade. They don't learn anything about
47:18
money. They don't learn if you are a
47:21
standard American right? And and you and you don't have
47:24
parents that are money savvy and the public school system, the
47:28
private school system for that matter too, the college isn't
47:31
going to teach you, OK? You got to learn it on your own
47:35
unless you study accounting. I studied accounting, so I
47:37
understand how money works, but I don't expect that everybody
47:40
else. Like I can't read a sheet of
47:42
music. But I can tell you all about
47:44
balance sheets, cash flow statements, all that stuff and
47:47
I'll bore you to death and I'm not going to do.
47:48
That. Right.
47:49
But your average American, if they're relying upon their
47:53
parents or the mainstream system that we go through, doesn't have
47:58
they're, they're going to be taught go in.
48:00
Debt. Go to college.
48:02
Go in debt. Buy a car, Go in debt, Buy an
48:05
apartment, Go in debt. Go on a vacation, Go in debt,
48:09
Right. No.
48:10
No in this. This is the opposite.
48:12
OK? I've gone on too long.
48:14
Thank you guys for being here. Look, it's very interesting
48:17
what's going on right now. We have the Federal Reserve Bank
48:20
of Philadelphia talking about the benefits of the gold
48:25
standard. Let that sink in.
48:28
We've got Larry Summers, the 71st Treasury Secretary of the
48:32
United States of America, telling us that inflation in
48:36
2022 was really more like 20%. OK.
48:40
We've got big, big trouble on the horizon for this country as
48:45
we sit right now with a debt to GDP ratio of 124%, knowing that
48:52
basically no country has ever recovered when they've gone past
48:56
130%. And the government themselves,
48:59
they're projecting, right, that we're going to be at like 150%
49:03
debt to GDPI. Don't know within the next 5 to
49:06
10 years. I don't have that chart, but
49:07
there's other charts out there that show that.
49:09
And guys, guys, that's doom. That's gloom.
49:13
That's math. That's that's a calculator.
49:16
That's not, you know, that's Susie wants us to get the 400
49:21
likes. All right, I'm going to stick
49:22
around. Susie, how many likes do we
49:24
have? Guys, if you haven't given this
49:25
a thumbs up, please do. When we get to 400 likes, we
49:29
don't do this often. But that guy I told you about
49:31
earlier, Don the Brain, the nicest guy in the world, OK, He
49:34
really is a nice guy. He sent this.
49:36
Look at this. The old train whistle.
49:42
OK, yeah, I know. A special treat.
49:45
Please don't. Unlike my video.
49:47
Susie, if you could give me an update on how many likes we
49:50
have, huh? That would be awesome.
49:53
OK. Hey, there's Neil.
49:56
Hello, Annie. Hello, Hal.
49:59
So, so that's the situation that we're dealing with 392.
50:04
Oh, guys, come on. We need eight more likes.
50:06
Please press the thumbs up, OK? And when Susie hits me up on the
50:09
walkie-talkie, for those of you that don't know, that's my
50:13
lovely wife, Susie. I do post.
50:16
Very beautiful woman, very kind, very understanding, very
50:20
tolerant. Which explains why she's been
50:23
married to me for 19 years and 168 days.
50:26
Like I've been counting the days.
50:28
And I'm very grateful for that. Everybody say hi, Susie, Susie
50:31
says hi, Susie, say hi. You're waving at everybody.
50:35
Hello, Susie. Say hi.
50:42
Hi there. OK Oh.
50:47
Brother, oh, I need to say thank you to our channel sponsor.
50:50
Whoa, whoa, whoa, whoa. First mining gold.
50:52
If you want to learn more about first mining gold, go to their
50:54
website firstmininggold.com. OK, two multi million out school
50:59
development projects in Canada and our friends at Fortuna
51:03
Silver. Jorge Genoza, Right, one of my.
51:06
Favorite mining company CE OS over the almost last 20 years
51:11
has consistently and conservatively grown the
51:14
company. You can learn more about them at
51:16
fortunasilver.com. Let's see.
51:19
Here I'm going to say hi to a few people Jake from Jake's
51:21
Custom Parts. Thank you, Jake.
51:25
The cat says I love tuna, Annie Oakley metal sear and thank you.
51:30
We got another super chat, so. I'm going to Susie.
51:36
Are we at 400? Thumbs up.
51:40
Hello. Hello.
51:40
Wow, fake money. Hold on.
51:47
Oh, we are. OK guys, I'm going to blow the
51:49
train whistle. OK all.
52:01
Right. Four blows of the train whistle.
52:04
Thank you for being here. OK, everybody, have a great
52:07
Easter. I may try to hop on tomorrow for
52:10
a real quick live stream just to say hello.
52:12
Be nice to yourself today. Thank you for being here.
52:15
Thank you for the Super chats. the Super thanks.
52:18
The donations do go a long, long way and they are very much
52:22
appreciated. OK, treat yourself well.
52:26
Do your best to treat other well.
52:28
Others.