Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 💃 This is WILD! 💃 - Silver Price and Gold News Update

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💃 This is WILD! 💃 - Silver Price and Gold News Update · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  Silver is getting squeezed today.
• 0:03
  Only problem is it's getting squeezed downward.
• 0:05
  But I'm going to give you the reasons why we don't have
• 0:08
  anything to worry about and why we still have a great, great,
• 0:12
  great chance for a silver squeeze to the upside.
• 0:16
  We're going to talk about what's happening today, which is a bad
• 0:19
  day in the markets for the precious metals.
• 0:21
  But first let's talk about something good, and that is the
• 0:24
  fact that you have decided to join me here in the basement.
• 0:27
  Thank you. Your time is precious.
• 0:29
  I I hope you feel like you found a little home away from home
• 0:32
  down here in the basement. Please subscribe to the channel,
• 0:37
  give the video a thumbs up, share it with everybody,
• 0:39
  including your grandchildren, grandparents, your friends, your
• 0:42
  neighbors, whoever you like. Now what is happening today in
• 0:45
  the markets and I'm going to give you the reasons why it's
• 0:48
  happening and why we don't have anything to worry about on a
• 0:52
  long term basis. Guys, let's go out here to CNBC
• 0:56
  where we can see on CNBC gold is down $62.00.
• 1:01
  Silver in the futures market currently down about $0.62 per
• 1:05
  oz. But why?
• 1:07
  You want to know the reasons why?
• 1:08
  That's why you came here. I'll tell you the reasons why.
• 1:11
  We've got a triple whammy going on.
• 1:13
  But when it comes to silver and gold, we're in good shape on a
• 1:17
  long term basis. But today we've had World Peace
• 1:20
  breakout. Did you notice it was World War
• 1:23
  three, what, 10 days ago? And now suddenly today we have
• 1:26
  World Peace. On top of that, we have suddenly
• 1:29
  the world getting along big trade deal announcements.
• 1:33
  And thirdly, we have the inflation numbers came out,
• 1:36
  which is absolutely crazy. The PCE, the feds preferred
• 1:40
  measure of inflation, right? That's the one that our old
• 1:43
  friend, our friend Jerome Powell watches most closely came in
• 1:47
  higher than expected. Now, in the long run, that's
• 1:51
  good for precious metals prices. But in the short run, because
• 1:54
  everybody says when inflation's up, the Fed will not be as
• 1:57
  likely to cut rates going forward.
• 2:00
  It's negative for metals, but so those are the three, those are
• 2:04
  the three big factors, right? They're really all a bunch of
• 2:07
  BS. We know that.
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  OK. Now the next thing we need to
• 2:11
  look at though, when it comes to the silver price is what is
• 2:15
  going on in the silver market in particular.
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  We are nearing the end of the quarter and they want to keep
• 2:21
  the price of silver down. June 30th, Monday will be the
• 2:24
  end of the quarter. I told you guys, right, If we
• 2:27
  get above $37, we are heading to Walahala the Viking Heaven or
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  whatever the heck it is, right There is crazy craziness
• 2:38
  unfolding. We're going to talk about the
• 2:40
  overall world monetary system and economy and economy a little
• 2:44
  bit later, but in particular in the silver market right now.
• 2:48
  Let's run out. We got a lot to look at today, a
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  lot to consider when we think about where the silver price is
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  going. Here was a post from Make Gold
• 2:58
  Great Again. Bill Holter, right?
• 3:01
  Great guy, super highly respected in the precious metal
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  sector, said quote, all eyes right now should be on silver.
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  30% of global silver production is standing for delivery 3 days
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  from now. He said that on June 25th,
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  Today's June 27th. There's crazy situations
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  unfolding in the silver market on top of that.
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  Let's go to this next interesting point brought up by
• 3:28
  Gary Savage, who says the effort to to suppress silver will be
• 3:34
  most intense tomorrow, which is today and Monday, So Friday and
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  Monday. It will also be the most
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  dangerous time for the banks to keep adding to shorts if the
• 3:45
  suppression fails. A close about $37 and especially
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  if silver makes a higher high, has good odds of blowing up the
• 3:53
  decades of silver manipulation. And then on top of that, OK
• 3:59
  Arcadia Economics who who we follow closely also brought up
• 4:08
  the point that we are near a record short position in the
• 4:12
  paper markets right now. We're not at a record.
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  I believe the old record was in 2016.
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  But in the paper electronic, the COMEX in New York City and the
• 4:21
  LBMA, the London Bullion Market Association, those fine paper
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  make believe silver traders in London, England, there is a near
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  record short position in the electronic futures, whatever you
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  want to call it, paper silver market just a hair below an all
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  time record. So think about that guys. 30%
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  right of the world silver production is potentially
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  standing for delivery a $37 close.
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  And we're going to look at why that's important.
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  Next right is being pushed down. That's why we're getting tamped
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  down today. And on top of that a near record
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  short position. They don't want silver to go
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  above $37. They are, let's say, I mean,
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  well, they are very concerned. I'm going to be politically
• 5:09
  correct that if silver goes above $37, it is off to the
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  races. And it will happen, no doubt
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  about it. Let's take a look at the silver
• 5:18
  chart quickly. And this, I think, shows some
• 5:22
  signs of manipulation as well. Here we go.
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  We're out at Yahoo Finance. I grew, I drew this is the
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  silver one day silver chart. Let's circle that so you can see
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  that clearly. Look at this today, these tamp
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  these these these blast down that we had and then look at
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  these volume bars. What does that tell us?
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  Right? They are hammering, absolutely
• 5:48
  hammering the silver price. Now, if we go out to this great
• 5:53
  chart that was shared by wrong one, where did it go?
• 5:57
  Hold on here. Hold on, shoot, hold on, guys.
• 6:05
  There's a great chart that I need to show you here.
• 6:08
  It is from Tavi Costa. All right, this explains why
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  they're so scared about $37 silver.
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  As you can see in green over here, we have $37 and that's the
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  line. This is a cup and handle.
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  This is the quarterly candle, quarterly close June 30th.
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  Monday of this week is the end of the quarter.
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  This is the cup, all right. You can see this is the handle.
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  If we get up here above $37, it would be on a quarterly basis a
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  breakout of the cup and handle pattern, which is the most
• 6:51
  reliable chart pattern in the history of the universe.
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  This is like a cup and handle for the textbooks.
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  They are scared. They do not like what is going
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  on right now in silver, which likely explains why we're having
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  the stamp down today. We talked about it, we warned
• 7:08
  about it, a lot of people warned about it.
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  That's what's happening. It's important for you to know,
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  but the fundamental factors behind silver remain intact
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  right in this all impacts the gold price as well.
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  We'll talk about the gold price a little bit more here in the
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  future. Let's go out to one more.
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  It just gets crazier everywhere we look.
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  Let's just run out and check in on the dude, our friend, the
• 7:32
  dude who gives us the daily paper silver market numbers.
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  Here we go. The silver market traded 540
• 7:43
  million paper oz yesterday. That was Thursday again, guys,
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  that's the paper market 540. Who knows how many are going to
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  trade today, Maybe 800 million, but 800 million roughly is the
• 7:56
  total world mine production output for a year.
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  So yesterday, right, For every, for every 8 ounces of silver
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  that the mining industry is going to produce for the Year, 5
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  of them were traded in the in the paper market.
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  And it gets even nuttier when we go out because we love to go to
• 8:17
  the Shanghai Gold Exchange. Our friend Oriental Ghost,
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  right, who we appreciate putting it out every day, gave us the,
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  the physical market numbers from China.
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  Again, this is the Shanghai Gold Exchange, the SGE.
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  This is almost exclusive physical market.
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  It's the market in China that's taking an overpriced discovery
• 8:41
  for the precious metals and we look at AG, see that right
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  there, right in China in U.S. dollars, we have basically a 38
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  U.S. dollars per oz, a $38 per oz silver price.
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  Now if we go back and look at the futures market, which is
• 9:03
  typically higher in the US, we see that we're at $36.
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  I mean, the reality is that in the physical market, in the
• 9:11
  market that is, that is emerging as the price discovery mechanism
• 9:15
  for silver, the silver price really is closer to $38 per oz.
• 9:21
  And let's talk about the mining stocks here for just one second.
• 9:26
  Here's a chart of the GDXJ guys. Important thing to remember.
• 9:31
  You know, I love the mining stocks, no doubt about it.
• 9:34
  I love gold and silver mining stocks, explorers, developers,
• 9:37
  the whole 9 yards. The junior Gold Mining stock
• 9:40
  index right now is at $65, the GDXJ, not much higher than where
• 9:47
  we were right after the C-19 crisis.
• 9:51
  These gold mining companies are making money like never before
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  Again. Monday will be the end of their
• 9:57
  second quarter. They're going to be have been
• 9:59
  selling gold for essentially 3230, three $100 per oz during
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  that quarter. And their biggest expense, one
• 10:07
  of their biggest input cost is oil and the price of oil is
• 10:10
  down. If you like gold mining stocks
• 10:13
  and if you like buying things that are what I believe, I'm not
• 10:16
  a financial advisor, but on sale, be sure to check out the
• 10:20
  gold mining stocks. Speaking of which, I want to say
• 10:22
  thank you to our channel sponsor, First Mining Gold.
• 10:26
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• 10:31
  They have two huge projects, Spring Pull in Ontario and Du
• 10:35
  Parquet in Quebec. Both of these are development
• 10:38
  stage projects. They have gold in the ground,
• 10:41
  millions and millions of Oz. You can go look at their
• 10:44
  investor presentation, you will be blown away.
• 10:47
  They also had the Cameron Project in Canada, which has
• 10:50
  another like almost 1,000,000 ounces of gold in the ground in
• 10:55
  Canada. You can learn more about them at
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  firstmininggold.com and you can always reach out to their
• 11:00
  Director of Investor Relations, Mr.
• 11:03
  paul.morrispaul@firstmininggold.com. All right, where else, guys?
• 11:08
  The whole story, I don't even pull it up.
• 11:11
  I had another whole article from the Silver Academy.
• 11:14
  The outlook for silver remains unbelievable, but all of this is
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  happening in this environment of insanity in the world Fiat
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  monetary system. Okay, just just the the, the,
• 11:29
  the whole underlying, I guess thesis, right that that we that
• 11:34
  we know exists for higher gold and silver prices is underpinned
• 11:39
  by the fact that the Fiat money system appears to be under some
• 11:44
  stress, some may say unraveling and and just think about this,
• 11:48
  I'm going to point this out to you.
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  Here's what's going on right now.
• 11:51
  The craziness. We've got Trump, President
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  Donald Trump, the United States, not a political statement like
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  making crazy attacks on the Federal Reserve about how they
• 11:59
  need to lower rates. We have the head of the Federal
• 12:02
  Reserve basically saying, no, I won't, I won't lower rates.
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  OK. Then we have other Fed governors
• 12:08
  that are now coming out saying that they're in favor of
• 12:11
  lowering rates. And we have other central banks
• 12:15
  around the world, other key players in this Fiat system that
• 12:19
  are lowering rates. And you've got all these goofy
• 12:22
  relationships going on right now.
• 12:24
  Again, like this morning, inflation numbers were higher,
• 12:27
  which in the the end are going to be supportive for the gold
• 12:31
  and silver prices. Inflation equals devaluation of
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  the dollar and devaluation, excuse me, of the dollar will
• 12:39
  lead to higher gold and silver prices.
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  The underlying facts, the underlying thesis as to why
• 12:47
  precious metals, gold and silver are going to go higher are, are
• 12:51
  stronger than ever. So on days like today, when you
• 12:54
  get this silver slam down, gold price slam down, keep the big
• 12:59
  picture in mind. Look, we sat down here, a lot of
• 13:02
  us right basement dwellers 3 years ago, gold was what, 1800,
• 13:06
  nineteen, $100 per oz. And we talked about keeping the
• 13:10
  big picture insight and it is paid off.
• 13:13
  And that's the same thing today. You know, a lot of people on a
• 13:18
  days like today that maybe aren't aren't full of conviction
• 13:21
  for gold and silver may sell, right?
• 13:23
  Some distribution may occur, but they will be replaced by other
• 13:28
  people who are buying. People that are like you and I
• 13:31
  that know the real story behind gold and silver and why the
• 13:35
  thesis will play out in the end. Let's take a look at some of the
• 13:38
  information coming out that shows us just how precarious of
• 13:42
  a situation, situation we are in right now.
• 13:47
  Here we go. Calls for, we'll start, we'll
• 13:50
  start with this. OK, now.
• 13:52
  So it's no wonder, it's no wonder that that foreign
• 13:55
  governments are calling for their gold back, calls for
• 13:58
  European nations to repatriate gold from the United States amid
• 14:03
  geopolitical concerns. Here we go.
• 14:07
  Germany and Italy are facing increasing pressure to relocate
• 14:11
  their gold reserves from the New York Federal Reserve due to
• 14:15
  rising geopolitical tensions and concerns over US monetary policy
• 14:20
  under President Donald Trump. All right, next.
• 14:23
  All right, let's just looking at what is going on right now in
• 14:26
  the monetary system here. FED's Powell defends higher
• 14:30
  interest rates amid a tax from Trump in the GOP.
• 14:34
  The central bank chair has said the threat of inflation, which
• 14:38
  we got today, and the uncertainty Trump has generated
• 14:42
  with his policies make it difficult for the Fed to make
• 14:46
  any moves. But then we have FED governors
• 14:50
  saying this from CNN. Fed officials are starting to
• 14:58
  break rank and join Trump. It's, it's, it's crazy, you
• 15:04
  guys. But all of this undermines,
• 15:07
  doesn't undermine, supports, undermines the dollar, but
• 15:11
  supports higher precious metals prices going forward.
• 15:14
  Some Federal Reserve officials are joining President Donald
• 15:17
  Trump and calling for a lower interest rates as soon as July.
• 15:23
  And then we get this right, the doozy of them all.
• 15:29
  Another one from CNN. Trump calls for the equivalent
• 15:33
  of 10 Fed rate cuts. There's Jerome Powell and
• 15:37
  there's President Donald Trump. President Donald Trump on
• 15:41
  Thursday continued his extraordinary targeted verbal
• 15:44
  attacks of Federal Reserve Chair Jerome Powell, calling for a
• 15:48
  massive 2.5 point 2.5 point reduction in in interest rates.
• 15:55
  That would be the equivalent guys of 10 rate cuts.
• 15:59
  OK. And then on top of that in the
• 16:02
  world Fiat system, we can go here to metals and miners.
• 16:06
  The liquidity floodgates open as 3 central banks unexpectedly cut
• 16:11
  rates in under 24 hours. OK, Trump's repeated his
• 16:15
  expressed displeasure with the ECB cutting rates 8 times since
• 16:20
  the end of of the central bank's hiking cycle one year ago.
• 16:23
  So you've got the ECB and other banks also looks like
• 16:27
  Switzerland and Sweden that are cutting rates.
• 16:30
  Is it all a little confusing Yes.
• 16:32
  Does it all feel like it's maybe starting to fall apart a little
• 16:36
  bit yes right. So we, when we look at this
• 16:39
  through the, through the, the lens of the bigger picture,
• 16:42
  we'll focus back on silver and gold here in a second.
• 16:45
  But from looking at the monetary system, the Fiat system, the
• 16:49
  Fed, right, which will have short term impact on the price
• 16:53
  of gold and silver, there's utter chaos going on, right?
• 16:56
  You got, you have, you have, you have, you have the president
• 17:00
  calling for a 2 1/2 point interest rate cut.
• 17:03
  You have the head of the bed saying I'm not doing anything.
• 17:06
  But then you have some of the Fed governor saying we think we
• 17:08
  should cut. And then you've got the
• 17:11
  European, the other like it's all interconnected, the European
• 17:14
  bank, the other Fiat countries, their central banks are cutting.
• 17:20
  It's all became kind of a poop shop for a lack of a better way
• 17:24
  to describe it, right? And at the end of the day, take
• 17:28
  a, we're getting news that inflation, like we've talked
• 17:32
  about ad nauseam, is continuing to go up.
• 17:35
  Real simple, right? All that fusion, you can set
• 17:39
  that aside, right? Just means the basically we're
• 17:42
  going to probably see the US dollar can need to be diluted,
• 17:46
  continue to go down in value. But the real easy way to look at
• 17:50
  it right now is as inflation goes up, inflation going up is
• 17:55
  the exact same thing as the value of the dollar going down,
• 17:59
  right? It's a real easy concept to
• 18:01
  understand, right? When the value of the dollar
• 18:04
  goes down, the price of every everything and inflation go up.
• 18:07
  When inflation go up, that means the value of the dollars going
• 18:11
  down at the end of the day. OK guys, basement dwellers, the
• 18:16
  big picture as the dollar goes down in value and do we have a
• 18:21
  track record? The reason why we look at this,
• 18:23
  right, over the last decade, over the last two decades, 3
• 18:26
  decades, 4 decades, the dollar has shown us through the best of
• 18:31
  circumstances that it was going to go down in value.
• 18:34
  As the dollar goes down in value, the value price, if we
• 18:39
  use the US dollar as our unit of measure, these right, things
• 18:43
  like silver and gold will go up in value.
• 18:48
  And by the way, right, take a look at this.
• 18:50
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• 18:54
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• 18:58
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  I appreciate them sponsoring the gold and silver content here in
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  firstment.com. Now, the shocker in all this,
• 19:57
  because we talked about that the big picture is real easy, guys,
• 20:00
  right? The value of this stuff, I
• 20:02
  believe, right? I'm not a financial advisor.
• 20:04
  Don't make any financial decisions based on what I'm
• 20:07
  saying. This is my truth.
• 20:09
  The value of gold, the value of this silver, Oh, it's beautiful.
• 20:16
  It's beautiful. Will only continue to go up as
• 20:19
  the value of the dollar goes down.
• 20:20
  But there's a kicker. There's a big kicker here.
• 20:24
  When we look at what's going on over the last, let's say 20
• 20:28
  years, 30 years with the US dollar, with the price of
• 20:32
  silver. Silver in 2125 years ago, 2002
• 20:36
  was like 5 bucks an ounce. OK, Look how much silver has
• 20:41
  gone up. It went to 50, right in 2011.
• 20:43
  We're at what, 35 right now? But the big kicker is that
• 20:48
  dollar devaluation that we did have during that period, that
• 20:52
  happened during the best of times.
• 20:55
  Those were the best of times. the United States ruled the
• 20:58
  world. The dollar ruled the world.
• 21:01
  Take a step back, right? Why is that?
• 21:04
  Why is that important to realize?
• 21:06
  Because if the dollar lost that much value during the best of
• 21:09
  times, think about what's happening now.
• 21:13
  And the reason why we want to think about that is because
• 21:15
  right now, right with the Brick Summit coming up here in a few
• 21:19
  months with the with the world by explicitly stating that they
• 21:23
  want to start to move away from the dollar, that the United
• 21:27
  States is finding itself in a financial situation, $37
• 21:31
  trillion in debt like never before.
• 21:35
  Like what's going to happen in the next 25 years?
• 21:39
  What could happen? I don't want to be the town
• 21:41
  crier. Maybe everything will turn out
• 21:43
  rainbows and lollipops, lollipops and and and everything
• 21:46
  else. But the reality is if we take a
• 21:49
  step back and look at it objectively, the dollar lost a
• 21:53
  lot of value over the last 20-30, forty years.
• 21:57
  And that happened in a in an environment that was very
• 22:00
  conducive to the dollar doing very well.
• 22:04
  What's gonna happen now that we have 37 trillion in debt?
• 22:08
  What's gonna happen now that we have China, Russia, right, Iran,
• 22:12
  all these other countries that are, let's just say, maybe not
• 22:17
  as interested in going along with everything that the United
• 22:21
  States says? Look, I'm patriotic.
• 22:24
  I love my country. And coincidentally, your
• 22:26
  founding fathers, if you're in the United States of our
• 22:28
  country, explicitly wrote gold and silver into the
• 22:32
  Constitution. They didn't say anything about
• 22:35
  these central banks, OK? They didn't say anything about
• 22:38
  these central banks. So as we move forward, in just
• 22:42
  my opinion, I think it's a smart idea to consider protecting some
• 22:47
  assets. That's what I choose to do
• 22:49
  outside of the paper money system, OK.
• 22:53
  Because at the end of the day, right, this, this is just paper,
• 23:00
  just paper, OK, Can be printed on paper, can be printed
• 23:04
  electronically. This stuff, OK, this gold and
• 23:08
  silver physical metal can't be printed.
• 23:11
  And if you look back right, just 1000 or 2000 years.
• 23:15
  What you're going to find is this is a good way to protect
• 23:19
  wealth. Thanks for being here.
• 23:20
  Please subscribe to the channel. Come back to the basement.
• 23:23
  I want to see you here again. Have a great day, OK?
• 23:26
  And I will see you soon.