Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🔔 **Breaking News: Silver Smashed This Morning!** 🔔

Transcript

🔔 **Breaking News: Silver Smashed This Morning!** 🔔 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:04
  Silver absolutely smashed this morning and we've got a lot more
• 0:10
  to talk about. I have a few things that may
• 0:12
  just make your skin crawl, like how much you are going to be
• 0:17
  paying in interest over the next 10 years.
• 0:21
  You will be shocked by that. But also, we're going to talk
• 0:24
  about some interesting Costco insights.
• 0:27
  You've been hearing it all. We're not going to talk about
• 0:29
  Costco selling gold, Costco selling silver.
• 0:32
  We've covered that ad nauseam. So is everybody else.
• 0:35
  But I've got a big keen breaking insight that I want to share
• 0:40
  with you about what is happening with Costco and why that could
• 0:45
  spell big, big changes for the price of silver and the price of
• 0:49
  gold. And we've got some good news,
• 0:51
  don't worry. Good news about the silver price
• 0:54
  and gold price. But let's start with this smash
• 0:57
  that we've had this morning. And the silver price, if you
• 1:00
  notice this over the last few days, up and down, up and down.
• 1:04
  Was there manipulation? I want to go straight to a chart
• 1:08
  and I want to show you what happened and why.
• 1:11
  We may be just a little bit suspicious.
• 1:15
  OK, here's our current silver chart.
• 1:17
  Let's go ahead and refresh this and take a look at what happened
• 1:22
  and this is the live chart of silver.
• 1:24
  Right now we're down $0.74 per oz.
• 1:27
  Wow is all we can say, right? That's a one minute chart.
• 1:30
  Let's go to a one hour chart. Here we are guys.
• 1:34
  This was Friday. Was it Friday where we had the
• 1:38
  big massive smash down, Price came back, price came back,
• 1:42
  price came back. Now this most recent smash down
• 1:46
  really started right here, so let's take a look at this.
• 1:49
  That's April 16th at about 2:00 AM.
• 1:53
  So at 2:00 in the morning they basically knocked the silver
• 1:56
  price down from 2880 per oz all the way down to 28.
• 2:02
  Thirty $0.50 per oz within a one hour period.
• 2:06
  If you look at the upper left hand corner of this chart, OK,
• 2:09
  so you see that big red bar right below where the plus sign
• 2:13
  is. That was two in the morning,
• 2:15
  16th of April, 2:00 AM. But what's interesting, I just
• 2:20
  want to point this out and I'm not a guru in this regard, but I
• 2:23
  want you to look up here where it says Vol.
• 2:25
  OK, so let's go back to that one hour period that occurred.
• 2:30
  Looks like there were 8500 contracts of silver.
• 2:34
  Now, somebody please correct me if I'm wrong.
• 2:37
  I've always told you I'm not the guy that knows the insurance and
• 2:40
  outs and the intricacies of the COMEX and the LBMA.
• 2:43
  And you know, I know what happens.
• 2:45
  But what I see there is 8000 contracts at 1000 ounces of
• 2:51
  silver. Each contract represents 1000
• 2:54
  oz. That would be 8,000,000 ounces
• 2:57
  of silver. And that's not really
• 2:59
  extraordinary, right, Because if we look back a little bit
• 3:02
  earlier on this chart, we see even crazier numbers.
• 3:05
  But 8000, again, right next to Vol, that would be 8,000,000
• 3:09
  ounces of silver trading in one hour in the middle of the night,
• 3:15
  right? And that would basically
• 3:17
  represent 1% of the entire year's mining silver production.
• 3:24
  I mean, it's absolutely insane what goes on in these paper
• 3:27
  markets, right? Look back here, look at this.
• 3:31
  When we had the the last big beat down on Friday, how many 20
• 3:35
  would that be? 20 million oz, right.
• 3:37
  Remember this one where we went from almost $30 per oz, what, on
• 3:41
  Friday all the way back down to 28.
• 3:44
  So guys, I know it's stressful. I know it's no fun, you know,
• 3:49
  one day up, one day down. But I want you to remember one
• 3:54
  big key thing and that is when we look at the silver price
• 3:58
  right now, it still starts with the number two and then comes
• 4:02
  the number $828.00 per oz. Not that bad.
• 4:06
  Hey, I want to tell you real quickly some exciting news.
• 4:09
  Speaking of Silver and Bonanza Silver, I just want to run over
• 4:14
  to Fortuna Silver channel sponsors website.
• 4:17
  They had big news out and it's really this interesting story
• 4:21
  behind this I want to share with you.
• 4:23
  But they had big news out regarding silver exploration at
• 4:28
  their Mexican mine, the San Jose mine.
• 4:31
  It says Paul Weed and Senior Bite, this is These are massive
• 4:35
  silver drill holes that they announced at this Mexican silver
• 4:39
  mine. Again the San Jose mine from
• 4:42
  Fortuna Silver. Drilling on the Yesi vein.
• 4:45
  And I'm going to tell you an interesting story about this
• 4:47
  Yesi vein. As I understand it, since the
• 4:50
  initial discovery hole in August of 2023 has continued to
• 4:54
  establish well defined system with recent results. 1327g per
• 5:01
  ton silver equivalent over an estimated true width of three
• 5:04
  meters. OK, look at this number. 1036g
• 5:09
  per ton silver equivalent over an estimated true width of eight
• 5:14
  meters. These are huge, huge numbers.
• 5:16
  But what makes this so interesting on several levels?
• 5:20
  First, Fortuna had announced that they were planning on
• 5:25
  possibly shutting this mine down towards the end of this year.
• 5:30
  And I asked Jorge Canoza, right and he that sounded like there
• 5:33
  were two, two things that could change the situation with their
• 5:37
  Mexican silver mine, one being the silver price, right?
• 5:41
  I think when they announced this, the silver price was
• 5:44
  closer to $2324 per oz. But he also talked about that
• 5:49
  when you when you open a silver mine, the first people who show
• 5:53
  up are the geologist, the people exploring for silver and the
• 5:58
  last people that should leave, if I remember this correctly,
• 6:01
  should be the geologist, those people exploring for silver.
• 6:05
  So this is very interesting because I think it changes
• 6:09
  possibly the dynamics of what Fortuna is doing in Mexico with
• 6:14
  silver. These are some massive, big
• 6:16
  numbers. Now we have a higher silver
• 6:19
  price, which makes mining more economic obviously, and we have
• 6:23
  the the discovery of some of what could turn into a great,
• 6:27
  great resource. What's also very interesting
• 6:31
  about this is the essay Vein if I have this correct is named
• 6:35
  after one of the geologists who who said we should really try
• 6:38
  drilling over here and I believe her name was Yesi.
• 6:41
  We should really try drilling over here, really try drilling
• 6:44
  over here and I I think she's a was a younger geologist that
• 6:47
  said OK fine we'll give it a shot and they discovered this
• 6:50
  what is turning into a very impressive potential silver
• 6:55
  resource down there at their Mexican operations.
• 6:58
  Also, I just want to mention they've taken big non cash write
• 7:02
  offs on their Mexican silver operations in previous quarters.
• 7:06
  As I understand it, as an old accountant, they basically had
• 7:11
  written off most of their Mexican silver assets.
• 7:14
  So if this does indeed prolong the life of this mine, who knows
• 7:18
  where it could go. It's all kind of a bonus at this
• 7:21
  point. So a good job Fortuna.
• 7:24
  Keep up the good work and let's move on here guys.
• 7:28
  You can learn more about Fortuna at fortunasilver.com Weebles
• 7:32
  wobble but they don't fall down. I know, I understand.
• 7:35
  It's been difficult being a silver and gold investor these
• 7:39
  last few days. Let's run out real quickly and
• 7:42
  just get a quick update on the price.
• 7:45
  What's going on? OK, so gold down 14, but we're
• 7:49
  going to refresh this. Gold down 16, silver down $0.90
• 7:54
  per oz, right? No fun, I understand.
• 7:58
  But also also, let's remember right $28.00 silver, $2300 plus
• 8:05
  gold. We would be we we would have
• 8:07
  been rejoicing just four or five months ago if we'd known that
• 8:11
  weebles wobble, but they don't fall down because we like to
• 8:14
  have fun here in the basement. This is what I think of Remember
• 8:18
  this you. These were called Weeble toys,
• 8:20
  which were around when we were little.
• 8:22
  You could push them, you could throw them.
• 8:24
  They always landed right side up and lately that's what we're
• 8:28
  seeing in the silver and gold market that gets pushed down,
• 8:31
  comes back up. It's feels like lately it's the
• 8:34
  situation we're away today. Who knows, maybe there is going
• 8:37
  to be a coordinated attack on the silver price.
• 8:40
  We don't know, right? But I believe that we're still
• 8:45
  in a very bullish environment for the silver price and gold
• 8:48
  price. And the dollar is being exposed,
• 8:52
  OK, right now, right now, really, who's buying all the
• 8:59
  silver? Who's buying all the gold?
• 9:00
  Because it's not the retail investment community, it's not
• 9:03
  the ETF, the SLV and the GLD right now, really the only
• 9:08
  people that are buying, and they're buying a lot, thank God,
• 9:11
  are the Chinese, the other Eastern countries, right, the
• 9:14
  central banks guys, when other people wake up.
• 9:19
  And we're going to talk about that occurring a little bit
• 9:21
  later in this video. A big key insight that I want to
• 9:24
  ask you if you're seeing this as well.
• 9:27
  But when other people start to wake up and it's not just China
• 9:31
  buying everything. China's like, sure, send us your
• 9:34
  silver, send us your gold. We'll take it.
• 9:36
  Here's your paper dollars back. Enjoy them.
• 9:39
  We we enjoyed holding them, but we don't want them anymore.
• 9:42
  We'll take your silver. We'll take your gold.
• 9:45
  That's what's happening right now.
• 9:47
  I wrote this out for you. I want to read this about what
• 9:50
  we're seeing. I think this sums up exactly
• 9:53
  what we're seeing right now. I'm going to, I'm going to read
• 9:55
  it for you. With emphasis.
• 9:57
  I forgot to turn Susie on. Everybody say hi to Susie,
• 10:02
  Susie's walkie-talkie. She's back.
• 10:04
  Yes. And while I'm saying that, There
• 10:09
  you go, hopefully you heard that she said hello, everyone, but
• 10:13
  let's dig in right now. Into what?
• 10:15
  And what is the big story? OK, these last few days, OK,
• 10:20
  Yesterday, the financial world witnessed A seismic shift.
• 10:23
  As the dollar, oil and gold surged, Stocks and bonds
• 10:27
  plummeted. But what ignited this frenzy of
• 10:31
  activity? Gold and silver, the timeless
• 10:34
  safe haven assets soared in response to mounting
• 10:38
  geopolitical tensions. Is is is Israel gearing up to
• 10:44
  strike Iran? We're going to dig into that in
• 10:46
  a little bit scary situation. Speculations about World War
• 10:52
  loom large, sending shock waves through the precious metals
• 10:56
  markets. Investors are an edge as
• 10:58
  geopolitical risks intensify. But what's fueling this meteoric
• 11:03
  rise of gold and silver? According to leading analyst
• 11:07
  Central bank actions are pushing gold and silver to unprecedented
• 11:12
  heights. Bank of America has forecast now
• 11:15
  reaching as high as $3000 per oz, while UBS predicts A
• 11:20
  staggering $4000 per oz Gold price.
• 11:25
  They are saying that could be a year, year and a half or maybe a
• 11:27
  little further out. But guys, $4000 gold.
• 11:31
  Where do you think the silver price will be at $4000 gold?
• 11:35
  Where? Where do you think the silver
• 11:38
  price will be? I'm just feeling $68 per oz.
• 11:43
  OK, even Goldman Sachs. See is gold soaring to $2700 per
• 11:48
  oz. The stage is set for gold's
• 11:51
  ascent. Geopolitical uncertainty coupled
• 11:54
  with central bank support creates the perfect storm for
• 11:59
  precious metal investors. Not to mention stagflation,
• 12:03
  which we are in a stagnant economy with inflation and it's
• 12:07
  really going to get ugly. Investors are flocking to gold
• 12:12
  and silver as a hedge against inflation and global turmoil.
• 12:16
  When I say that, I mean the big central banks and the Eastern.
• 12:19
  We don't necessarily have that happening yet in the West, OK?
• 12:24
  As the world teeters on the brink of uncertainty, one thing
• 12:28
  remains clear. The allure of gold and silver
• 12:31
  shines brighter than ever before.
• 12:34
  OK. So that's what I think is
• 12:36
  happening geopolitical. Now we got to remember and what
• 12:40
  happened yesterday, OK, what happened, it was very
• 12:43
  interesting. What went on in the market
• 12:45
  yesterday was silver and gold. Very, very interesting because I
• 12:49
  follow the silver price, you follow the silver price, we
• 12:53
  follow the gold price. I also and a lot of you, I have
• 12:57
  a lot of money invested into precious metal mining stocks.
• 13:01
  So I also follow what goes on in the precious metal mining
• 13:04
  stocks. Yes, right.
• 13:05
  Like I mentioned before, companies like Fortuna channel
• 13:08
  sponsor, I have a lot of my money invested in them.
• 13:11
  First mining gold channel sponsor.
• 13:14
  I have a lot of my own money invested in them.
• 13:16
  I will only take sponsorships from companies which I own.
• 13:19
  I eat my own cooking, right? I put my money where my big
• 13:23
  mouth is. So I follow.
• 13:25
  Yesterday was strange. We what we saw yesterday was a
• 13:29
  geopolitical spike in the silver price and gold price.
• 13:34
  OK, I warned you over the weekend.
• 13:35
  I thought we would have not a good week in the precious
• 13:38
  metals. I hoped I was wrong, and I am
• 13:40
  often wrong. But we had a spike right?
• 13:43
  Those spikes often times don't have legs.
• 13:47
  OK, They don't hurt. Nothing wrong with it.
• 13:49
  It's fun. Yeah, sure.
• 13:50
  I'm like you. I'd rather see gold up $40.00 an
• 13:54
  ounce over up $0.99. Not a day like today where it's
• 13:57
  down darn near a buck per oz. But that's what we had go on
• 14:01
  yesterday. OK, the dollar went up, oil went
• 14:04
  up, and gold and silver went up. OK, spiking, spiking, spiking.
• 14:08
  But what is going on in the world that's run out real
• 14:12
  quickly and see what they're saying?
• 14:17
  This is what happened yesterday. Israel readying an imminent
• 14:23
  attack on Iran as airlines cancel flights in the region.
• 14:27
  I'm going to have a quick drink of coffee.
• 14:28
  You have a drink of coffee too. And smile for one second.
• 14:30
  All right, let's just read these highlights here very quickly.
• 14:40
  Middle East braces and read through these super speed Middle
• 14:44
  East braces for Israeli retaliation attack on Iran after
• 14:50
  Israel war cabinet meets Israeli Air Force says it has completed
• 14:55
  preparation and that an attack is imminent.
• 14:59
  OK U.S. officials and again this all came out yesterday Tell the
• 15:02
  Wall Street Journal they believe that Israel will launch an anti
• 15:08
  Iran operation today. OK, I don't think that happened
• 15:12
  as of yet. OK, the IDF chief said that Iran
• 15:16
  Iranian missile and drone attack on Israel will be met with a
• 15:20
  response. So guys let's we'll stop there.
• 15:23
  But this is basically Israel potentially going all out war
• 15:29
  with Iran this is scary. This is this does deserve a
• 15:33
  spike in the gold and silver prize.
• 15:35
  And and we aren't rooting for it.
• 15:37
  Remember, we're talking about human lives here.
• 15:39
  I will say that every time I talk about what goes on, but is
• 15:43
  it other places in the Middle East?
• 15:45
  Let's look at this little more recent news.
• 15:48
  US says over 90 missiles and drones were launched from Yemen
• 15:54
  in the past 48 hours. So we're not talking about
• 15:56
  Israel. We're not talking about Iran
• 15:59
  now, We're talking about Yemen. New statements from the Pentagon
• 16:02
  issued Monday say that the Houthis have fired over 90
• 16:06
  ballistic missiles and drones, most of which were intercepted
• 16:09
  by US and allied forces over the past 48 hours, once the Iranian
• 16:15
  attack kicked off in the overnight hours of Saturday.
• 16:18
  So my question is this, How can we even say are we at war?
• 16:26
  Hold on. There we go.
• 16:31
  We're going to talk about are we at war?
• 16:33
  But first, I want to talk to you. 10 seconds.
• 16:35
  Thank you for being here. Thank you for giving me your
• 16:39
  time on a beautiful Tuesday morning.
• 16:40
  It's a big deal. You're smart, you're
• 16:42
  intelligent. You want to dig in.
• 16:44
  You've joined a great community. We like to refer to ourselves as
• 16:48
  basement dwellers. We get together.
• 16:49
  Talk about silver and gold. Please give this a thumbs up.
• 16:52
  Super Chats are always super appreciated.
• 16:55
  Help. Support the channel.
• 16:56
  Help Support the family, and you can subscribe.
• 16:59
  That's free. Now, let's.
• 17:01
  Do you think we're at war? I mean, let's think about this.
• 17:04
  I want you to. I want you to.
• 17:05
  I want you to ponder this for a moment.
• 17:08
  Are we at war? Right.
• 17:10
  We're supplying. Well, let's go to Europe
• 17:14
  quickly. We're supplying money.
• 17:16
  We're supplying supplies to the Ukrainians who are fighting
• 17:20
  against the Russians. This is crazy.
• 17:23
  I mean, think about it. OK, again, the analogy that I
• 17:28
  like to use, right. If you have a neighbor you don't
• 17:30
  like, right? And and you got you and your
• 17:33
  neighbor next door neighbor get into a really vile snowball
• 17:37
  fight, OK? You're whizzing them, you're
• 17:39
  making them those snowballs as hard as you can, and you're
• 17:42
  throwing them at him. And you're hiding behind the big
• 17:44
  oak tree in your front yard and he's throwing them back at you.
• 17:47
  You really want to hurt each other, right?
• 17:50
  OK. And then let me just throw this
• 17:53
  out there. The neighbor on the other side
• 17:56
  of your neighbor starts to make snowballs and supply them to
• 18:00
  your neighbor. So now he has twice the
• 18:02
  snowballs to throw at you. Would you consider yourself to
• 18:05
  be at war with just your neighbor but also or your
• 18:10
  neighbor and your neighbor's neighbor who's supplying him
• 18:13
  with snowballs? I mean, to me, it's a very scary
• 18:17
  situation that's unfolding in the world right now.
• 18:21
  Europe, war with Russia. Middle East, war with Iran.
• 18:26
  I mean, how can you, you know well, well, well, Israel, we'll
• 18:30
  help defend you. We're not going to help you
• 18:32
  attack, but we'll help defend you.
• 18:34
  And I'm not, this is not a political statement.
• 18:36
  I'm just staying from the perspective of is the United
• 18:40
  States. I think it's a question we need
• 18:41
  to ask ourselves. Are we at war?
• 18:43
  Are some people have said I'm not proposing this but some
• 18:47
  people have said that World War has already start.
• 18:52
  I mean does it kind of sort of feel that way you know and
• 18:56
  what's the biggest best safe haven asset that anyone I'm
• 19:00
  going to ask you this is a quiz quiz time.
• 19:03
  You better get this one right Buttercup or you're fired from
• 19:06
  the basement. You're out of here.
• 19:08
  Susie is going to put you on the list.
• 19:11
  Don't mess with Susie. Trust me, OK, but what is the
• 19:14
  timeless best asset to invest in during times of geopolitical
• 19:19
  uncertainty, also known as war time?
• 19:24
  For your answer, Yeah, silver and gold.
• 19:27
  OK, what happened? Let me just throw this out
• 19:29
  there. What happened over the weekend
• 19:31
  when the Iranian attacks on Israel first were launched?
• 19:36
  All I'm gonna say is some of these other electronic assets
• 19:41
  that like to fancy themselves as the new form of gold and silver
• 19:45
  didn't fare so well. That's just a fact.
• 19:48
  I'm not anti Bitcoin, OK? I'm not anti crypto.
• 19:52
  I'm just telling you a fact. That crypto had a very, very,
• 19:55
  very abrupt downturn. And and gold and silver as we
• 20:01
  could see from some of the assets that were trading over
• 20:04
  the weekend. Some of the assets of the track
• 20:07
  Golden children went straight up, whereas Bitcoin went
• 20:10
  straight down again. I'm not anti.
• 20:12
  I'm. I don't, I don't, I'm not.
• 20:14
  I'm not saying anything bad about our crypto friends.
• 20:16
  We share a lot of common beliefs.
• 20:19
  I'm just pointing out the facts. OK, where were we?
• 20:22
  Basement dwell. There's all 560.
• 20:24
  Maybe we can get to 700 people today.
• 20:26
  That'll be exciting. OK, Ukraine.
• 20:30
  Oh OK now. Now it's time for you to sit
• 20:36
  back in time for you to be shocked.
• 20:39
  This is shocking. We know.
• 20:42
  We know. The dollars going down, baby.
• 20:44
  The big thing that's going to drive the price of gold and
• 20:46
  silver. You can talk about all these
• 20:48
  symptoms. All this stuff is the value of
• 20:50
  the dollar going down. But I've got some news for you
• 20:53
  that will make your skin crawl. Let's go check this out right
• 20:58
  now. OK, Let's go to where did it go?
• 21:03
  Oh, oh, oh. We'll just go here first.
• 21:06
  This is not the information. This will this will get your
• 21:09
  skin moving. This isn't gonna get your skin
• 21:11
  crawling. But it's been a few days.
• 21:14
  Let's take a look. Oh, the US national debt
• 21:16
  continues to go up. I remember just a few weeks ago,
• 21:19
  we were 34 trillion. Let me remind you, a trillion is
• 21:23
  1,000,000 * 1,000,000. Take a deep breath.
• 21:27
  Think about that. One trillion is equal to
• 21:31
  1,000,000 * 1,000,000 that. So 34 trillion's like 34 million
• 21:38
  * 1,000,000. You can't even think about it.
• 21:42
  OK, let's go over to the secret window.
• 21:44
  This is not what's going to make your skin crawl.
• 21:47
  What is new at the secret window on the US debt clock?
• 21:51
  Looks like they're taking us out to Twitter.
• 21:53
  Freedom of expression, liberty and tyranny.
• 21:58
  Let us dare to read, think, speak, and write.
• 22:01
  Looks like that's. Who is that?
• 22:03
  Is that George Washington or Thomas John?
• 22:05
  I don't know. I don't really get that one.
• 22:07
  Anyway, let's get our skin crawling like I promised you and
• 22:12
  we are going to go here. Be ready.
• 22:17
  OK? If if you have a weak stomach,
• 22:19
  you may not want to watch this segment.
• 22:21
  I'm going to warn you. Go go watch.
• 22:23
  Like Coin Shop Chris said, go watch Roadrunner cartoons.
• 22:26
  This is America's interest payments reach 1 trillion.
• 22:29
  That's not that. Now your skin's starting to
• 22:32
  move, but it's not crawling. And I'll not only will remind
• 22:35
  you now when it's crawling. So look at this chart.
• 22:38
  US interest payments reach 1 trillion now.
• 22:42
  I mean, it's really, really sad. Sorry, my neighbor's calling me
• 22:48
  on the phone. There. 1 trillion starting in
• 22:51
  1950. Look at up, up, up, up, up.
• 22:53
  Now there's the pandemic. OK.
• 22:56
  So we were at about what 500 billion and since the pandemic
• 23:01
  our interest payments. This is not the debt, this is
• 23:04
  not the 30-4 trillion, 600 billion we saw earlier.
• 23:08
  This is the interest that that love that that level of debt
• 23:12
  accrues OK, is up to 1 trillion. Now be prepared quickly here,
• 23:19
  overview this. I'm going to tell you when your
• 23:21
  skin crawls, the annual interest payments on the US national debt
• 23:25
  since 1947. And that data came to us from
• 23:28
  the Federal Reserve. OK.
• 23:31
  America's growing debt bill. You know that.
• 23:33
  OK? I think it's the actual debt
• 23:35
  levels going up by a trillion dollars every hundred days.
• 23:40
  But it says here the cost of paying for America's national
• 23:43
  debt crossed $1 trillion mark in 2023, growing by more than
• 23:48
  double over the last decade. Here this.
• 23:51
  OK, take a deep breath. This is where your skin crawls,
• 23:55
  OK? Debt outlook over the next 10
• 23:59
  years. I cannot believe this.
• 24:01
  Somebody check these people, please. the US government is
• 24:05
  projected to spend a historic 12.4 trillion.
• 24:10
  OK, next 10 years, 12.4 trillion on interest payments.
• 24:14
  Just interest. It's just the interest payments.
• 24:17
  This is the part your skin is going to crawl amounting to
• 24:21
  about $37,100 per American. I mean, that's $40,000 per
• 24:31
  American. When does this catch up with us
• 24:35
  guys? I mean that is becoming
• 24:37
  significant, significant numbers.
• 24:40
  For perspective, in 2023, the US spent more on debt payments than
• 24:45
  it did on Medicaid, and it wastes a bunch of money on
• 24:47
  Medicaid as well, one of its largest expenses.
• 24:52
  So this is what we're dealing with right now.
• 24:55
  This is what silver and gold investors know, right?
• 24:59
  The dollar, unfortunately, right?
• 25:02
  This thing is not in good shape. That's what we're dealing with
• 25:08
  right now. And you know, as we move into
• 25:11
  the coming months, quarters, years and decades, the
• 25:16
  situation's only getting much, much worse.
• 25:18
  Let's talk about Costco briefly. And are you getting Costcoed
• 25:27
  out? I am.
• 25:29
  I'm tired of hearing about the fact that Costco is selling
• 25:32
  silver and gold. It's OK, but but there's a big,
• 25:36
  big, big, big, big massive key thing that we need to realize
• 25:41
  that's going on now as a result of this.
• 25:43
  So this is, this will be the. Let's see if I can find it.
• 25:47
  Where the heck did it go? Uh.
• 25:48
  Oh, maybe my computer's font is is actually sick of it.
• 25:53
  Hold on here. Hold on.
• 25:57
  Here we go. Where the heck did that go?
• 26:00
  OK, here we go. All right.
• 26:03
  Am I on screen share? No.
• 26:04
  All right, let's pull that up. Last time.
• 26:09
  Last one Inside Edition. Isn't that like a like an
• 26:13
  entertainment channel or something like where they talk
• 26:16
  about celebrities, Costco selling gold bars for $2300
• 26:20
  each, blah blah blah blah blah blah.
• 26:22
  I saw this yesterday. I thought now even Inside
• 26:25
  Edition, every media outlet in the world has run this Costco.
• 26:31
  This Costco selling gold and silver story gold is
• 26:34
  historically a hedge against inflation.
• 26:36
  Did you know that Americans are very worried at home, which is
• 26:41
  probably one of the reasons they're at Costco to begin with?
• 26:44
  OK, that's a good point. All right.
• 26:46
  So let's come back here. Let's talk about what's really
• 26:51
  going on and why this could make a big difference for you and me
• 26:56
  as a silver and gold invested. OK, I'm going to read from my
• 27:00
  notes. OK, every media outlet on the
• 27:02
  planet has recovered this story. But what is very important?
• 27:07
  OK, what is super important about this, right?
• 27:11
  My mom asked me the other day, She like, did you hear Costco
• 27:15
  selling gold? The very nice woman who I work,
• 27:19
  I have a little job I do in the evening, she said.
• 27:22
  Did you hear Costco selling gold?
• 27:24
  Right. And I'm like, yeah, we've been
• 27:25
  talking about it in Ron's basement for like 6 months.
• 27:30
  You know, this is the big key, key thing.
• 27:34
  And I, we said this, right? We predicted this basement
• 27:37
  dwellers 5-6 months ago when this first story first broke,
• 27:41
  when we were way ahead of the curve, we said it was like a
• 27:45
  crock pot. Who likes to cook in a crock pot
• 27:49
  anyway, right? That that very beginning, that
• 27:52
  those first gold bar sales, that it just, that was just the
• 27:57
  beginning. Turning on the Crock pot, It was
• 27:59
  just heating up and I think it's starting to simmer, OK, we're
• 28:03
  starting to see a little bloom bloom because everybody that are
• 28:07
  you hearing, are people asking you, are you hearing like in
• 28:10
  general conversation, oh, Costco's selling gold, Costco's
• 28:14
  selling gold. OK, but but here's the thing.
• 28:19
  OK. Here's what's very interesting
• 28:21
  about this is that is more people become more and more
• 28:26
  aware and people are buying gold at Costco to protect themselves
• 28:30
  against inflation. We've not seen anything yet.
• 28:33
  OK. And and I asked these people and
• 28:37
  I encourage you when people say if you heard Costco song gold
• 28:40
  say what do you know why so many people are buying it.
• 28:43
  And and and that's the next phase.
• 28:45
  That's the next thing that we need to see is that people start
• 28:48
  to wake up and realize, like you have and I have, that people are
• 28:52
  buying gold, people are buying silver to protect themselves
• 28:56
  against the ravages, the absolute ravages of inflation.
• 28:59
  Now there's been some troubles. I know with silver, there were a
• 29:04
  couple articles that came out, people buying silver from Costco
• 29:08
  and complaining about the packaging.
• 29:10
  What I recommend to people When they asked me about this cost, I
• 29:12
  said if I were going to buy gold, if I were going to buy
• 29:15
  silver, I would buy it from a specialist, right?
• 29:19
  Costco's great. It's selling bulk packages of
• 29:24
  toilet paper. I know people love Costco, good
• 29:27
  meat, blah, blah, blah, whatever.
• 29:29
  But if I were going to buy gold or silver, I would buy it from a
• 29:32
  specialist and let's go run out and say thank you.
• 29:35
  Speaking of a specialist, Hold on, guys.
• 29:39
  Technical difficulties. All right, let's just check and
• 29:44
  let's get the bad news today. We're not going to hold this
• 29:46
  again. OK?
• 29:47
  Silver only down $0.75. Gold 852.
• 29:51
  OK, we're doing OK guys, but I would buy my gold, I would buy
• 29:55
  my silver, I would buy my platinum group metals from a
• 29:58
  specialist. And that specialist that I go to
• 30:01
  is Pimbex, Pi MB EX. OK, that's all they do is sell
• 30:08
  precious metals. They know how to package it up.
• 30:10
  Really nice, trust me. But what's even more important,
• 30:14
  right, is that you can trust them in that their prices are
• 30:18
  always, always ultra competitive.
• 30:22
  Hey look, you need to figure that out for yourself.
• 30:24
  You can run out to their website, herepinbex.com.
• 30:28
  Do your own due diligence, right?
• 30:30
  Shop around. I always encourage people, but I
• 30:32
  think you'll find what I found. And that is Pinbex really does.
• 30:38
  Where is the box? There's the box.
• 30:40
  Pinbex checks all the boxes, and if you ever decide you want to
• 30:44
  convert part or all of an IRA to precious metals, they can help
• 30:48
  you out with that as well. All right, guys, we got more.
• 30:51
  We got more. We got more.
• 30:54
  OK, you want to hear about some crazy here?
• 31:00
  Let's let's just talk about all the crazy gold predictions that
• 31:06
  are out there right now. I put this together for you.
• 31:10
  And where is it? Darn it.
• 31:15
  Hold on Here. Hold on.
• 31:17
  Not that. Not it.
• 31:18
  Not it. Not it.
• 31:20
  Where'd it go? Not it.
• 31:22
  Not it. All right, hold on, hold on.
• 31:28
  Thanks for bearing with me. Here we go.
• 31:31
  This was an article from a from a website called Moo Moo.
• 31:36
  OK, I'm going to give him some credit here, but it was one of
• 31:39
  those websites you ever had that happen where you like.
• 31:41
  You go to a website and you're looking at it and those things
• 31:44
  pop up on the screen and they make it darn near impossible to
• 31:49
  find where the X is for you to close it.
• 31:51
  Like hey, we got a special offer for you, blah blah blah blah,
• 31:54
  but you can all usually find it. It's hidden somewhere like the
• 31:57
  X, the X out of it, so you can get back to what you really came
• 32:00
  there for. This one had one that popped up
• 32:03
  and I couldn't for the life of me figure out how to X out of
• 32:06
  it. There must have been a way.
• 32:07
  But I finally said, you know what, I'm just going to copy
• 32:10
  what I can and give them credit. OK, let's talk about what the
• 32:14
  big guys are saying about silver and gold.
• 32:17
  OK, Let's talk about we got UBS, Citigroup, Bank of America.
• 32:22
  And I think there's even more. We're going to talk about JP
• 32:24
  Morgan briefly as well. Goldman Sachs has stated that
• 32:31
  risk averse sentiment will drive gold prices to soar with the
• 32:34
  institution raising its year end gold price forecast from 2300 to
• 32:40
  $2700 per oz. Analysts at Goldman Sachs noted
• 32:47
  in their noted in their report that gold tends to outperform
• 32:49
  other assets during rate cutting cycles.
• 32:53
  They pointed out that although rate cuts have not yet arrived,
• 32:56
  gold is expected to continue. It's exceptional performance by
• 33:00
  central bank demand concerns over the US fiscal conditions,
• 33:04
  which we just looked at earlier. You're going to be paying almost
• 33:08
  $40,000 in interest over the next 10 years.
• 33:11
  Congratulations. OK.
• 33:16
  Hey guys, Susie just chimed in. We have 200 likes.
• 33:18
  So that that's what Goldman Sachs 27 are.
• 33:21
  But wait, there's more. And right now you know what
• 33:24
  we're going to do. You know what we're going to do?
• 33:27
  We're going to ring the cowbell, OK?
• 33:30
  Because we got 200 thumbs up. It's cowbell time.
• 33:41
  I'll wake up all those guys at Goldman Sachs that are sleeping
• 33:44
  at their desk. Wake up, boys.
• 33:46
  It's bell time. OK, UBS.
• 33:49
  Man, I had a horrible situation last night at a FedEx Kinko's
• 33:52
  store. I went, I had some new signage
• 33:56
  printed up for my for the Mining companies and Fortuna.
• 34:00
  And thank you Metal Sear and Kristen for the Super chats.
• 34:08
  Hey, thank you. Susie, do you want to say hello
• 34:11
  to everybody? Come on.
• 34:19
  That's how she greets me in the morning.
• 34:20
  Hi there, Ron. Great to see you again.
• 34:23
  Dream come true. Oh, I went to FedEx Kinko's at
• 34:26
  7:45 to pick up my 2 sheets. Two things printed would have
• 34:31
  taken 2 seconds. I get there, they close at 7:00.
• 34:34
  I'm like, how can a FedEx shipping copy store close at
• 34:38
  7:00? So I saw the guy back there.
• 34:40
  He was in there, and I thought, oh, I'll just knock on the door.
• 34:42
  He'll be nice and get my little two things.
• 34:45
  I had printed out. This guy like attacked me.
• 34:47
  I knocked on the door and he came and he opened the door and
• 34:50
  he had this like look on his face.
• 34:51
  He was about our age, about 54. And he's like, and I said, hey,
• 34:56
  I said, can I, can I just get my, I have like, 2 things I had
• 34:59
  printed. And he was like, can you not see
• 35:03
  on the door? It clearly says 7:00.
• 35:05
  We close. And can you not see it's on the
• 35:08
  Internet? And it's on our phone message as
• 35:10
  well. We close at 7:00.
• 35:12
  I was like, OK, man, no problem. Sorry to bother you.
• 35:16
  And I said, by the way, did you know that the Fed in Federal
• 35:21
  Express is no more federal than the Fed in the Federal Reserve?
• 35:25
  And he just kind of looked at me funny.
• 35:27
  All right. Anyway, let's get back to this.
• 35:29
  Hopefully you guys are seeing the same screen I am UBS.
• 35:32
  OK, this is interesting, $4000 gold, What does that mean?
• 35:37
  What did I say $68 silver? UBS says that considering the
• 35:41
  expected rate cuts and increased gold demand from central banks,
• 35:45
  they anticipate gold price may continue to rise.
• 35:47
  UBS analyst have highlighted retail buying as the next
• 35:52
  catalyst for the commodity. Amen, UBS.
• 35:56
  Amen. Right.
• 35:57
  That's what we're talking about guys.
• 35:59
  We have no retail demand for silver or gold right now or
• 36:04
  muted, right. Sure.
• 36:06
  It goes up and down. But overall, the trend has been
• 36:09
  a challenging environment for in the West.
• 36:12
  Retail demand for silver and gold, if it just gets a little
• 36:16
  bit better. Oh, yes, OK Metal sear gave us a
• 36:25
  wow. So Powell speaking at 1:15 PM
• 36:28
  Eastern. I don't know if that's a
• 36:29
  scheduled. So we'll have to look into that.
• 36:32
  If anybody can see, put it in the comments or if it's going to
• 36:36
  be like an emergency or whatever.
• 36:38
  Very interesting. Anyway, look, guys, this is the
• 36:41
  good news. Everybody smile.
• 36:44
  Come on, basement dwellers, you can do it.
• 36:46
  I know it's Tuesday morning. You're putting up with me in the
• 36:48
  basement, but let's all smile. We have had a strong think about
• 36:53
  this. We've had a very strong gold
• 36:56
  price, right? Records.
• 36:59
  We've got $28.00 silver, which is good.
• 37:03
  I'll take it. I'd have told you that back in
• 37:05
  February you'd have been jumping for joy.
• 37:08
  Let's all jump for joy right now.
• 37:10
  And it's done that. This is the big critical thing.
• 37:13
  It's done that in an environment where Western investment has
• 37:18
  been muted at best, right. Has been subdued.
• 37:23
  So when it gets better, just a little bit better, it doesn't
• 37:26
  have to be good. Rick Rule says it.
• 37:27
  Rick Rule, right. One of the one of the royalty
• 37:30
  within the silver and gold arena.
• 37:33
  He says it best. He talked about, I heard him say
• 37:35
  this about silver, that the beautiful thing about silver is
• 37:39
  it doesn't have to be loved to do really, really well.
• 37:43
  It just needs to be a little less hated.
• 37:47
  OK? It doesn't need to be.
• 37:49
  It's, it's, it's it's in such bad shape from a from a Western
• 37:54
  investor perspective that it just it just needs to be a
• 37:58
  little bit less hated. That's not us.
• 38:00
  That's not you. That's US basement dwellers.
• 38:02
  We love silver, right. OK, All right.
• 38:05
  Interesting. OK, UBS.
• 38:08
  Let me get here. Let me highlight this so you can
• 38:11
  all follow along. They've increased their gold
• 38:13
  price predictions for this year by $250 per oz, adjusting their
• 38:18
  June forecast to 2300 an ounce, a figure that's already been
• 38:22
  surpassed. Yeah, they might want to update
• 38:23
  that and setting their projections for year end and end
• 38:28
  of March 2025 at $2500 an ounce, up from whatever.
• 38:33
  But here's the here's the cool part.
• 38:35
  Furthermore, Newman, are you paying attention?
• 38:41
  Furthermore, analysts believe that investors holding gold for
• 38:45
  a two to three-year period, Oops, I think I exaggerated that
• 38:48
  earlier. I said 18 months to two years.
• 38:51
  I got the two years right. Could potentially see prices
• 38:55
  double. Big smile climbing to over $4000
• 39:01
  per oz. Yeah, we you heard that right.
• 39:05
  Over $4000 per oz. Let's talk to our friends at
• 39:10
  Citigroup, at least the ones that haven't been laid off yet.
• 39:13
  I think they're laying off like 25,000 people.
• 39:17
  I'm not laughing. That's hard.
• 39:18
  My heart goes out to anybody who got laid off.
• 39:20
  But 25,000 people? That's like a massive NBA or NHL
• 39:25
  arena full of people? That's a lot.
• 39:27
  And those are good paying jobs with good benefits.
• 39:30
  But that's OK 'cause Bidenomics is here to save all those
• 39:33
  people. They can go drive Uber or
• 39:35
  deliver Burger King to drunk college kids for DoorDash.
• 39:39
  Whatever the case may be, that's the new economy.
• 39:42
  Citigroup analysts have joined their peers at UBS in boosting
• 39:45
  their gold price targets. Late last week they increased
• 39:49
  their zero to three month forecast all the way to $2400
• 39:54
  per oz City is noted in recent years.
• 39:56
  Central bank's gold purchases I don't know which were were sick
• 40:00
  of and that and they're both great things I don't mean sick
• 40:03
  of. Are you feeling this way?
• 40:05
  All you hear when you hear about gold anymore is Costco or
• 40:09
  central bank gold purchases. How about we start hearing about
• 40:12
  lines out the door at the local coin shop?
• 40:14
  How about we start hearing about the online bullion dealers being
• 40:17
  sold out? That's going to happen.
• 40:20
  OK? Bank of America, also known as
• 40:24
  BOA, has set a target price for gold to reach $3000 per oz by
• 40:30
  2025. Guys, we're like a third of the
• 40:34
  way through 2024. Pointing out the current
• 40:37
  macroeconomic factors are favorable for gold.
• 40:40
  They note that if the Fed cuts rates within the year as
• 40:43
  anticipated, gold purchasing is likely to expand, potentially
• 40:48
  pushing gold prices even higher. OK, and JP Morgan, the latest I
• 40:53
  could find from them was 2500. You know, what is this telling
• 40:57
  us? What is this telling us, right?
• 41:01
  Goldman Sachs, JP Morgan, Bank of America, Everybody has sky
• 41:05
  high gold prices. But what you may be asking, what
• 41:09
  does that mean for silver, right.
• 41:11
  I want you to remember something, guys.
• 41:13
  I want you to remember something critical about silver and why
• 41:16
  This is good news. Better, better news for Silver.
• 41:21
  Even better news for silver. I'm sorry, I got to get it out.
• 41:27
  The only way I can explain this to you is with the help of some
• 41:30
  Tonka trucks. Bear with me, this is critical
• 41:33
  in this really all joking aside demonstrates in no uncertain
• 41:39
  terms why we could get 708065, maybe even triple digit silver.
• 41:46
  But let me grab the Tonka trucks real quick.
• 41:48
  OK? This gold colored truck is the
• 41:55
  price of gold. I had it written on there.
• 41:58
  OK, the price of gold. OK, this silver truck is the
• 42:04
  price of silver. This elastic band in the middle
• 42:08
  is the gold to silver ratio, which is at all time highs,
• 42:12
  right? So here's the gold price.
• 42:14
  Here's the silver price getting stretched, Stretched, right,
• 42:19
  right. OK now what happens is and it's
• 42:22
  still stretched, we're still at about 80.
• 42:24
  I can feel I I'm not that strong.
• 42:26
  I can feel it's hard, right? There's not there's a lot of
• 42:29
  tension in that 80 to 1 gold to silver ratio.
• 42:35
  But think about this. It's not just standing still
• 42:39
  because over the last number of months the gold price it's
• 42:42
  leaving the screen has gone to all time highs and this, the
• 42:46
  gold to silver ratio has moved a little bit, but not a lot.
• 42:51
  All this tension in this red elastic band as gold goes,
• 42:55
  gold's pulling. You know silver is up to 28, but
• 42:58
  there's still all that tension. If gold goes to three 4000 and
• 43:03
  this tension gets released, that's what they call a
• 43:08
  slingshot. Move in the price of silver.
• 43:13
  OK, a slingshot. So you can get mad at me.
• 43:16
  You can say, oh, yeah, you're always talking about, oh, guys,
• 43:22
  we've got breaking news from silver.
• 43:24
  Susie, Susie, please repeat that again for everyone out there in
• 43:28
  the in the listening audience. Thank you.
• 43:37
  I like the way you say that. I'll put through my order for
• 43:41
  what I want for lunch in a few moments.
• 43:50
  I already rang the cowbell. Susie, what were you doing?
• 43:54
  Why were you not on the live stream anyway?
• 43:56
  In no uncertain terms, that shows you why we could have this
• 44:01
  massive move in the silver price.
• 44:05
  I mean, hey, let's go check. According to silver Susie,
• 44:08
  right? The boss upstairs.
• 44:10
  Let's go check that gold and silver price right now and we'll
• 44:14
  go to our friends at Pinbec's. Let's see what they say.
• 44:18
  Oh, my gosh. Hey guys, gold is remember this.
• 44:25
  Where is it? Weebles wobble, but they don't
• 44:28
  fall down. I mean, these metals.
• 44:31
  The world is waking up. We, I, we we talked about this.
• 44:35
  This is massive. We talked about it back in
• 44:37
  December. Basement dwellers.
• 44:39
  And for those of you who are new, you're welcome to hear.
• 44:42
  And we're glad you're here. But a lot of us long term
• 44:45
  basement. We talked about in December that
• 44:47
  we'd entered a new weather pattern.
• 44:53
  I I did ring the cowbell. I think I did.
• 45:00
  Am I hallucinating? Well, I think I did.
• 45:04
  You can ask the studio audience. I think they'll agree with me.
• 45:08
  This is one of those rare times where I'm right about something.
• 45:12
  Sorry, guys. Susie and I are having a little
• 45:15
  point of contention. I love Susie.
• 45:18
  Anyway, we talked about this. We talked about it, That we are
• 45:22
  in a new, a new weather pattern. I didn't ring the cowbell.
• 45:30
  Let me finish with my weather pattern.
• 45:31
  Preaching we're in a new weather pattern.
• 45:34
  We're in a oh, it was OK here I'm going to ring the bell one
• 45:40
  more time because I even said I was going to wake up the people
• 45:48
  at the Goldman Sachs that that we talked about this guys, we
• 45:51
  talked about we are in a new It's hard for us.
• 45:56
  Is it hard for OK, it's OK guys. And I need to get this through
• 46:07
  my thick skull too, right. It's OK that we're in a bull
• 46:12
  market for silver and gold. It's OK.
• 46:15
  I know today the silver has been a real challenge, right.
• 46:18
  Gold is, you know, is presenting is coming back.
• 46:22
  It's OK. It's OK.
• 46:24
  And it's going to be an interesting ride.
• 46:26
  I appreciate you being here. OK, guys.
• 46:28
  Thank you. All right.
• 46:29
  Thanks for the thumbs up. Thanks for the Super chats.
• 46:32
  Thanks for being part of the basement and I'll look forward
• 46:35
  to seeing you soon. Bye, Bye.