Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / BIG BANK STOPS Cash 💰- (SILVER & Gold Price, CBDC, Digital Currency)

Transcript

BIG BANK STOPS Cash 💰- (SILVER & Gold Price, CBDC, Digital Currency) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  How do you feel about living in a cashless society?
• 0:05
  No more paper money, no more coins.
• 0:08
  Are we headed in that direction? And what big news did we get
• 0:13
  over the weekend telling us that a $250 billion bank is
• 0:20
  essentially eliminating cash for all of its customers?
• 0:26
  Are we headed towards CBDC? Are we headed towards pure
• 0:31
  digital currency? And what does it mean for the
• 0:34
  value of the silver and gold that you hold right now?
• 0:39
  Let's dig in and find out. A bank with more than $250
• 0:49
  billion in total assets says it will soon terminate cash
• 0:54
  transactions in all of its branches.
• 0:58
  The Australia based Macquarie Bank says it will launch a plan
• 1:03
  to eliminate all cash check and phone payment services in
• 1:10
  January, shifting to a digital operation by the end of 2024.
• 1:17
  Is this the first step towards pure digital money?
• 1:22
  If you're looking to buy gold, silver, or platinum, do yourself
• 1:25
  a favor and check out PIM Bex, the online precious metals
• 1:29
  bullion dealer and sponsor of Ron's Basement.
• 1:33
  I was a happy customer before they offered to support the
• 1:36
  channel. You'll find they have the best
• 1:39
  prices, quality, and service. I think PIM BEX is best, and you
• 1:44
  will too. And be sure to tell them that
• 1:46
  you're from Ron's basement. No more cash anywhere in the
• 1:50
  world. Yes, this is an Australian bank,
• 1:53
  but Australia is a developed essentially western economy and
• 1:58
  that's a big, big bank, $250 billion and assets completely
• 2:05
  eliminating cash. Let's dig in a little further
• 2:08
  and see what else they are doing.
• 2:10
  But doesn't it feel like we could be moving towards a CBDC
• 2:15
  digital money world? And we are going to talk about
• 2:18
  what that means for your friends silver and gold when we pull
• 2:22
  this all together at the end next.
• 2:24
  Here's what we hear from the bank quote between January of
• 2:28
  2024 and November of 2024. They're not even going to go all
• 2:33
  the way through December. We will be phasing out our cash
• 2:37
  and check services across the Macquarie banking and wealth
• 2:42
  management products, including pension and super accounts,
• 2:47
  whatever a super account is. We are also switching off our
• 2:51
  automated telephone banking service used to make payments
• 2:55
  over the phone. Not only are they getting ready
• 2:57
  to cash, but they don't want you to use your telephone for
• 3:00
  banking anymore either. This means from November 2024,
• 3:05
  we will no longer offer cash or check services.
• 3:08
  Instead, you'll be able to make payments digitally, digitally,
• 3:13
  digitally, digital payments. We'll leave it at that.
• 3:17
  A safer, quicker and more convenient way for you to bank.
• 3:20
  Doesn't that sound like they're saying a safer, quicker and more
• 3:24
  easy for us to monitor? Easy for your government to
• 3:28
  monitor, way to bank. Does it feel like we're moving
• 3:32
  towards a pure digital CBDC world?
• 3:36
  And that's the big fear, right, social credit scoring like they
• 3:40
  do over in China that eventually we have everything digital and
• 3:45
  through artificial intelligence and other technological quote UN
• 3:50
  quote advancements, the powers that be will be able to monitor
• 3:54
  everything you do. And is that what this Australian
• 3:58
  bank are they moving us one step closer in that direction?
• 4:03
  Macquarie customers who currently deposit and withdraw
• 4:05
  cash at affiliate National Australia Bank branches will
• 4:10
  also lose that option in November.
• 4:14
  Sorry, you can't deposit cash in the bank anymore?
• 4:19
  Are you kidding me? Wow, guys, remember this is a
• 4:23
  $250 billion bank. Once the changes are rolled out,
• 4:28
  anyone who banks with Macquarie and wants to withdraw cash will
• 4:32
  be Reg relegated to the bank's ATM which allow customers to
• 4:37
  withdraw a maximum of $2000 per day.
• 4:39
  So they will allow their customers to take out a little
• 4:43
  cash, I mean, just in case they need it to maybe buy something
• 4:46
  or maybe they prefer to use cash as opposed to digital credit and
• 4:52
  everything else. This is crazy quote from the
• 4:55
  bank. Bank customers can continue to
• 4:57
  withdraw cash from their transaction account only via ATM
• 5:02
  across Australia and overseas. However, cash deposits and
• 5:08
  branch withdrawals will no longer be available.
• 5:12
  Available. That just Does that blow your
• 5:15
  mind if your bank said to you suddenly, sorry, you can't
• 5:19
  deposit cash at the bank anymore, you can't go to your
• 5:24
  bank branch and tell them you want $3000 to withdraw for cash.
• 5:29
  You've heard these stories about people going into big banks in
• 5:32
  the United States, even in in requesting to withdraw four or
• 5:36
  five $8000 and basically being interrogated by the teller like
• 5:41
  well, what are you using this for?
• 5:43
  What are you doing? Are we moving towards a digital
• 5:47
  CBDC world where everything will be monitored?
• 5:51
  Although A and Z, which is a big Australian bank, and
• 5:54
  Commonwealth Bank have also revealed plans to eliminate cash
• 5:58
  options at a select number of branches.
• 6:01
  Macquarie Bank is the first to roll out the changes across the
• 6:05
  board. A recent report from Australia
• 6:07
  Central Bank found fewer people are using cash for payments.
• 6:11
  Oh sure. I'm sure that's what they found,
• 6:13
  but concluded that the option is still important for some people.
• 6:18
  I'll put my hand up. It's still very important to me.
• 6:21
  I don't like using credit cards. I prefer to use cash.
• 6:25
  A survey from the central bank found cash was used in 27% of in
• 6:30
  person transactions in 2021 compared to 23% in 2020.
• 6:38
  What does this mean for the future of money?
• 6:42
  What does this mean for the future of the silver price and
• 6:46
  the gold price first? Mining Gold is a development
• 6:49
  company advancing 2 of the largest gold.
• 6:52
  Projects in Canada, Spring Pole in Ontario and Du Parquet
• 6:56
  located in Quebec. Each already has. 5 million
• 7:00
  ounces of gold reserves but. Exploration initiatives are
• 7:04
  underway at both projects to. Find even more gold.
• 7:09
  First, mining is well financed, has zero debt and owns an
• 7:13
  interest in four additional Canadian gold development
• 7:16
  projects. Well, for the future of money,
• 7:19
  guys, I hate to break it to you, but this is what's happening,
• 7:22
  what this Macquarie Australian bank is doing again, a $250
• 7:26
  billion bank, Be prepared. It wouldn't surprise me if in
• 7:30
  the next two to three years, maybe the next year, we get
• 7:34
  similar announcements from major banks in the United States,
• 7:38
  right. You can no longer deposit cash,
• 7:40
  You can no longer go to our bank branch and take cash out.
• 7:44
  We'll give you a little cash from the ATM, but we're
• 7:47
  basically going cashless. That's the situation.
• 7:51
  I don't like it, it scares me. But the next step from there
• 7:55
  will be a full blown central bank digital currency we know
• 7:59
  98% of the world's central banks right now are already working on
• 8:04
  and CBDC's be prepared. What I hope we see and what
• 8:09
  people are working on including the World Gold Council, is that
• 8:13
  we get a gold backed digital currency that's real, that's
• 8:18
  regulated and available across the board.
• 8:20
  To give people like you and me an option outside of the Fiat
• 8:26
  Unicorn fart dust. We used to call paper, but now
• 8:29
  we'll just call it digital banking system where people can
• 8:33
  store their wealth in real metals, a silver backed digital
• 8:39
  currency, a gold backed digital currency that's reputable,
• 8:43
  audited, regulated. You know that at any time you
• 8:48
  can take or show up and convert your digital currency into real
• 8:53
  silver or gold. What does it do for the price of
• 8:56
  silver and gold? You might be asking that as
• 8:58
  well, the value of an ounce of silver that you might be holding
• 9:02
  in your little hands right now. The value of an ounce of gold or
• 9:06
  platinum. I think this big shift towards
• 9:09
  digital, digital, digital will most likely be very very good
• 9:16
  for the value and price, however you want to measure it, of
• 9:21
  precious metals. The silver price, gold price,
• 9:24
  and platinum price will do very well as the world wakes up and
• 9:28
  realizes, hey, they're forcing us to use all these digital
• 9:32
  products. I have no privacy and the value
• 9:37
  can be diluted with the Press of a keystroke.
• 9:40
  Remember one thing about silver and gold, There's only so much
• 9:44
  of it on the planet. It's been valuable for thousands
• 9:48
  of years. It can't be replicated or
• 9:51
  recreated with a stroke of a pen or the push of a button on a on
• 9:57
  a keyboard. Silver and gold will likely
• 10:00
  become even more attractive as one of the last bastions of
• 10:04
  financial privacy as the world is forced into a digital money
• 10:10
  environment, whether that be CBDC's or other forms of digital
• 10:14
  currency. And again, like I talked about
• 10:17
  earlier, that option for a digital fully backed audited
• 10:21
  regulated gold and backed currency could also be very
• 10:26
  bullish factors when it comes to demand for physical metals.
• 10:30
  But they aren't going to hopefully come out and say you
• 10:33
  can't hold physical metals as long as we can hold those
• 10:37
  metals. And what you have right now, you
• 10:39
  might just be sitting in the catbird seat as all of this
• 10:43
  unfolds. Hey, I appreciate you watching.
• 10:45
  Please go watch a live stream and I'll look forward to seeing
• 10:49
  you soon.