Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / SILVER STACKERS 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price

Transcript

SILVER STACKERS 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  An absolutely massive move up in silver this morning.
• 0:05
  Gold doing well also. What's the reason we talked
• 0:08
  about this yesterday? We made a bold.
• 0:10
  Prediction basement dwellers, this is not a surprise to us
• 0:14
  this morning. The inflation numbers, the CPI
• 0:17
  numbers came in lower than expected.
• 0:21
  And that has caused a major rally in the price of silver and
• 0:25
  the price of gold. Let's run out right now and take
• 0:27
  a look. Let's make sure that and I am in
• 0:31
  Pfc not prepared for class. Let's go out there right now.
• 0:37
  Everybody. Here we go and we'll go to pin
• 0:40
  backs. Let's do a refresh.
• 0:42
  We got a big warning today as well.
• 0:44
  OK, silver up $0.79 to over $30 per oz.
• 0:49
  Woohoo, we'll take it, right? Gold $2336.48, up $20 per oz.
• 0:57
  But what was the cause? And let's talk about a major
• 1:01
  warning, because today there were two massive news events
• 1:06
  that were going to impact the price of silver and gold.
• 1:09
  Guys, yesterday we talked about this.
• 1:11
  We predicted this. There's a reason why these
• 1:13
  inflation numbers came in suspiciously low, and it could
• 1:18
  be really good. I'm talking about the potential
• 1:21
  for a blow off top in the general markets in the silver
• 1:25
  price and the gold price and we'll talk about why, but let's
• 1:28
  go out excuse me and take a look at the.
• 1:31
  Headlines from CNBC Inflation slows in May I want you to What
• 1:38
  does this mean to you? Inflation slows in May.
• 1:41
  There's a guy with a mask on at the grocery store that's unusual
• 1:46
  with. Consumer prices up 3.3% from a
• 1:50
  year ago. Oh my gosh, reason for joy,
• 1:53
  reason to be happy. We're not even going to click on
• 1:56
  that article and talk about it 'cause this is all noise, it's
• 1:59
  all BS. The price of silver, the value
• 2:02
  of silver, the value of gold are absolutely heading higher.
• 2:07
  What about this I want you to think about?
• 2:09
  This What if? This, the headline said.
• 2:11
  Inflation slows in May with consumer prices up.
• 2:16
  Not from a year ago, but what if they compared them to three
• 2:21
  years ago or four years ago? What do you think?
• 2:24
  Look at my little finger. If they were to do that, if they
• 2:27
  were to compare may prices to three or four years ago, see my
• 2:30
  little finger there? He's going to move that decimal
• 2:34
  over one spot. So compared to four years ago,
• 2:38
  prices are only up 33%. Reason for joy.
• 2:41
  But what's the meat? What's what's behind all of
• 2:44
  this? OK, oh, let's have some fun
• 2:49
  while we're at it. The other big headline, GameStop
• 2:52
  raises more than $2 billion by selling 75 million shares.
• 2:58
  Guys, what a joke. I just want to point out to you,
• 3:01
  GameStop right now has a market cap of $10 billion.
• 3:06
  The entire market cap of the entire silver mining industry.
• 3:11
  Sits at about $15 billion. There was a day last week when
• 3:16
  the market cap of GameStop was more than the entire silver
• 3:21
  mining sector combined. And, and think about this.
• 3:24
  GameStop just raised, GameStop raised $2 billion.
• 3:29
  OK, and this company's like dead basically, but it's a meme
• 3:34
  stock, whatever. How screwed up are the markets?
• 3:36
  They just raised $2 billion and compare that to the entire at
• 3:41
  $15 billion market cap of the silver industry and these silver
• 3:45
  companies. And I won't go down that road
• 3:47
  too far, but we got think of what does this all mean when we
• 3:50
  think about the future supply of silver.
• 3:52
  And we're going to talk about the future supply of gold a
• 3:54
  little bit later, but a, a, a. Silver Company A silver mining
• 3:59
  company can't raise 5 million, can't raise $2,000,000.
• 4:03
  Right, they're having a hard time.
• 4:04
  Whereas GameStop can raise $2 billion.
• 4:08
  I'm sorry, I digress. Let's go back here.
• 4:11
  This whole inflation thing, this whole argument, we called it
• 4:15
  yesterday. Congratulations.
• 4:16
  And by the way, thank you for being here.
• 4:19
  I haven't said this in a while, but you basement dwellers are
• 4:22
  the are the best. We come together, we love to
• 4:25
  talk. About silver and gold, it's a
• 4:26
  big deal. You are important, OK?
• 4:30
  It's not Ron Tube, it's YouTube. So thank you for being here.
• 4:34
  Thank you for being part of this community.
• 4:36
  Hey, somebody else from our community.
• 4:38
  Remember Coin Shop Chris? He started his own YouTube
• 4:41
  channel. You can look him up Coin Shop
• 4:44
  Chris on YouTube and check him out.
• 4:46
  I think as of last night he had a couple short videos out but
• 4:49
  support Coin Shop Chris. He's a great friend and
• 4:52
  contributor to the channel. But you can also subscribe to
• 4:55
  this channel. Now I digress, let's get back
• 4:58
  into the major. Big, big news stories of today.
• 5:03
  Are we going to have a blow off top?
• 5:04
  Remember what David Hunter said? He's talking about silver
• 5:08
  possibly going to $60.00 per oz. Why is this a big deal?
• 5:12
  Why were we able? To to predict that these
• 5:16
  inflation numbers were going to be low and why is that a massive
• 5:21
  impact on the silver price and the gold price.
• 5:24
  I'm going to explain it to you right now.
• 5:26
  We are in June. We have a major presidential
• 5:30
  election in November, about five months away.
• 5:33
  It was convenient, Let's say, that old President Joe Biden
• 5:38
  came riding in on his little Unicorn.
• 5:40
  Today and dropped. That's what I said yesterday.
• 5:43
  He was going to ride in and drop a low inflation number.
• 5:46
  Oh my gosh, surprise, surprise, surprise.
• 5:49
  Why? A number of reasons and a number
• 5:52
  of reasons why that's good for the silver and gold price, but I
• 5:55
  still have. A major warning to you because
• 5:58
  we've only cleared one of the hurdles today, but it's a big
• 6:02
  deal because now Joe and his I don't like his press secretary.
• 6:06
  Don't hold it against me. There's very few.
• 6:08
  People I don't like in this world, but I don't like that
• 6:11
  woman that speaks for the president that she can say, wow,
• 6:15
  you know, look at the inflation numbers today.
• 6:18
  Look how great they were, blah, blah, blah.
• 6:20
  That's number one, OK, But there's a bigger reason why they
• 6:23
  wanted to conveniently, I'm just, I'm putting on 1/3 of a
• 6:27
  tinfoil hat. Not that the not that the
• 6:30
  president and the government would have any impact on the
• 6:32
  numbers that come out the job. Remember the great jobs number
• 6:36
  on Friday by Dynomics. It's working OK.
• 6:40
  Now we got inflation under control, OK?
• 6:44
  Oh, man, Joe, he's going to really be able to brag about how
• 6:47
  great things are for middle America.
• 6:49
  But I wanted you to remember something, right?
• 6:51
  That number that went down. I'm going to repeat myself.
• 6:55
  Susie calls me around the repeater.
• 6:57
  You can call me around the repeater too.
• 6:59
  But it's important for us to remember the fact that that
• 7:03
  compares prices in May to one year ago.
• 7:07
  They were still up 3.3% and we know that's ABS number.
• 7:12
  So the Federal Reserve and boy, we're going to lay into him
• 7:15
  today. Hold on here, this guy, he's
• 7:19
  coming out again later. He successfully stole, stole,
• 7:23
  stole, stolen, stole. I don't know, whatever took 3.3%
• 7:28
  of your money away, Americans of this stuff.
• 7:31
  Right, right, right here. Just say no to Unicorn fart dust
• 7:36
  from my friends from the sound money society.
• 7:38
  He stole 3.3% of that. But the important thing to
• 7:42
  remember is even more crazy. That's compared to one year ago.
• 7:46
  If we compare those numbers to three or four years ago, it
• 7:48
  wouldn't be 3.3%. No, it would be more like 33%.
• 7:54
  I digress. Why is this good for gold and
• 7:57
  silver? You might be asking a number of
• 8:00
  reasons. OK, yeah, the the convenient
• 8:02
  numbers. But now on top of that, now that
• 8:06
  according to the official government statistics, inflation
• 8:10
  is under control, right? We only had three-point 3%.
• 8:13
  People think that. That, that, that.
• 8:15
  Gives the Fed, Where is he? This guy?
• 8:18
  We're not going to get him out. This guy, it gives him a little
• 8:21
  a little room so that the doves won.
• 8:23
  That's what they were saying. I never watched CNBC, but I was
• 8:26
  watching this morning. They said this was a victory for
• 8:29
  the doves, right? That means right, they can lower
• 8:32
  rates. What does lowering rates do?
• 8:35
  It's all a bunch of BS, but none the less it stimulates the
• 8:39
  economy. What does what does Joe, what do
• 8:41
  the Democrats want to have happen in the next 5 months
• 8:45
  prior to the election? They would love for the stock
• 8:48
  market. The they don't care.
• 8:50
  It's a bubble already, guys, OK? It's a big freaking bubble right
• 8:54
  now. They don't care.
• 8:57
  David Hunter, right, the contrarian strategist who was on
• 9:00
  the show talked about this, this blow off top that we could be
• 9:04
  hitting soon. They don't care, right?
• 9:07
  They would love for the stock market to go through the roof,
• 9:10
  OK? They would love for the Fed to
• 9:12
  be to have to cut rates, be able to cut rates and you know what
• 9:15
  silver and gold are going to do in that environment.
• 9:17
  They are going to explode as well.
• 9:19
  That's the potential. I'm not saying that I think
• 9:22
  that's going to happen, but what we saw this morning and all
• 9:26
  this, you know. Don't, don't even try.
• 9:28
  And we're going to talk about the Fed next, OK, 'cause we got
• 9:30
  a big announcement, massive news coming out here in just a few
• 9:34
  hours. Jerome Powell, the Federal
• 9:36
  Reserve, right that could this, could be this could we can wind
• 9:40
  up having a day? Where gold, silver down
• 9:42
  significantly. Right.
• 9:44
  I mean, it's, this is a crazy day.
• 9:45
  Today's the one of the probably the craziest days of the year
• 9:48
  for silver and gold investors. I'm telling you though, it's all
• 9:54
  a bunch of lies. Have you ever been in a
• 9:56
  relationship with somebody? Have you?
• 9:59
  I feel like we're in a relationship where all that
• 10:01
  person does is lie to you, right?
• 10:03
  Where you get lied to, like a cheating spouse or a friend that
• 10:07
  lies to you. And it and it and it doesn't.
• 10:09
  Things don't make sense, right? That's what we're dealing with
• 10:13
  here when we're dealing with what the Fed is saying, what the
• 10:16
  government is saying, what this her, we'll get her out briefly,
• 10:20
  right? What she is saying, you know,
• 10:23
  oh, she used to work at the Fed too, coincidentally, but
• 10:25
  nonetheless, right. It's, it's it's it's if it's if
• 10:30
  it's confusing. The best thing to understand is
• 10:33
  that it's going to be. It's purposely made to be
• 10:36
  confusing. Because they're lying to you,
• 10:39
  right? They're stealing from you.
• 10:40
  They're stealing the average Americans money.
• 10:43
  The founding fathers of this country are rolling over in
• 10:45
  their graves. I'm sorry, but they are, right?
• 10:49
  I mean, Thomas Jefferson Hamilton, Andrew Jackson,
• 10:54
  Abraham Lincoln, you know, Albert Eisenhower.
• 10:59
  Anyway, you know what I'm saying, If, if you're confused,
• 11:03
  if you think all the Fed and all the, the interest, the interest
• 11:07
  rates and all the, well, you know, look, look, let me tell
• 11:12
  you something. Look, I'm not claiming to be the
• 11:14
  smartest guy in the room, but I studied money.
• 11:16
  Maybe you studied electricity, maybe you studied music, maybe
• 11:19
  you studied engineering, physics.
• 11:22
  I don't know. Whatever you studied, you
• 11:24
  studied. I studied money at a top tier
• 11:27
  university. OK, and I've graduated near the
• 11:30
  top of my class, believe it or not, I don't brag about that,
• 11:33
  but maybe once every 3.5 weeks none the less.
• 11:37
  I can't even understand all this stuff.
• 11:39
  And I mean you number one, you got to have the the training and
• 11:42
  the skill and then you got to be like really committed to
• 11:45
  learning it. It's all a bunch of smoke and
• 11:47
  mirror mirage blah blah blah. But the fact remains, we're
• 11:51
  going to get big, big news today out of the Fed.
• 11:54
  Let's go take a look at that. Let's just I've got I
• 11:57
  highlighted. The the details of the article
• 12:00
  for you. OK, but I want to talk about
• 12:03
  this blow off top one more time. David Hunter, I think he was
• 12:06
  talking about $3000 gold, $60.00 silver.
• 12:09
  This was when I talked to him about 3 weeks ago and that it
• 12:12
  could happen soon. The tables kind of set for that
• 12:15
  right now, guys, the table, all the pieces are in place and as
• 12:19
  we're heading into the election in the, the powers that be want
• 12:23
  to juice the economy. We could see crazy, crazy moves
• 12:28
  in the silver price and gold price.
• 12:29
  Let's go out and do a quick check up.
• 12:32
  Check up time. Take your blood pressure
• 12:33
  medicine. Let's go out the pin backs here
• 12:38
  and see what's going on. I need to refresh this.
• 12:41
  Anything can happen and it has right now.
• 12:44
  Gold's only up 1264, silver up 56 cents.
• 12:49
  It lost the $30 threshold, but the day is young.
• 12:53
  Look, the Fed could the Fed if the Fed comes out and and what
• 12:57
  they say is perceived as dovish, we could have a great, great day
• 13:02
  in the. Gold and silver market, I would
• 13:05
  imagine we're probably going to consolidate around 29, let's say
• 13:10
  7029, seven, $29.75 before the Fed announcement.
• 13:15
  But boy, oh boy, if the Fed comes out dovish, you know, we
• 13:17
  could have a big, big day. And what's more important is the
• 13:21
  couple months ahead, right? It could be a fun summer.
• 13:24
  It could be a bummer summer as well.
• 13:28
  But for now, we're going to be optimistic that we get a fun
• 13:30
  these guys. All right, let me just let me
• 13:32
  just say thank you to Pimbex channel sponsor.
• 13:35
  You wouldn't be in the basement with me right now if it wasn't
• 13:38
  for the support of Pimbex and our other sponsors.
• 13:42
  Pimbex is a company that. I buy my silver from period.
• 13:47
  OK, I'm not telling you what to do.
• 13:49
  I'm just telling you, right, that if you're in the market to
• 13:53
  buy some silver, gold or platinum group metals, consider
• 13:57
  looking at Pinbex, right? Everyone that has, and I've
• 14:01
  gotten hundreds of emails from basement dwellers thanking me,
• 14:04
  has been very happy with the service they get from Pinbex,
• 14:08
  the selection they get from Pinbex.
• 14:10
  And look, just for me, everybody's different.
• 14:13
  But for me, when I convert my Unicorn fart desk Fiat paper
• 14:17
  money into real metals, I want to get the most metal for my
• 14:21
  money, right? And when I compare prices at
• 14:24
  Pinbex with some of the other big online bullion dealers.
• 14:28
  I like it free bonus silver cause the prices are always hard
• 14:31
  to beat. Don't forget.
• 14:33
  Also, if you ever consider converting part or all of an IRA
• 14:37
  to precious metals, Pinbex can help you with that as well.
• 14:41
  OK, let's go out and let's talk about the big hold on.
• 14:45
  Let's let's look each other in the eye.
• 14:47
  Hello, basement dwellers. I hope you feel welcome here.
• 14:51
  I need to look you right in the eye.
• 14:53
  We got big news coming out this afternoon, the Fed.
• 14:56
  OK, it could literally set the table for a great summer.
• 15:01
  Are you ready for a great summer?
• 15:02
  Right. I'm telling you what I'm ready
• 15:04
  for. We have a neighborhood pool,
• 15:05
  wonderful neighborhood pool. Nobody talks about silver and
• 15:08
  gold up there. I've told you that many times,
• 15:11
  right? When people come up and talk to
• 15:12
  me that I don't want to talk to, I start talking about silver and
• 15:15
  gold and they swim away. You think I was a great white
• 15:19
  shark or something, you know? But I want to have a summer
• 15:22
  where I'm over there in the corner at the pool and
• 15:24
  everybody's swimming up to me saying, hey, Ronnie, what do you
• 15:27
  think about silver and gold? We know you're the guy that
• 15:30
  knows a lot about silver and gold.
• 15:31
  And I'll say, well, grab yourself a pool noodle and I'll
• 15:34
  tell you about silver and gold. Or better yet, just go watch the
• 15:37
  replay of some of the Ron's basement live streams because
• 15:40
  we've been talking about it for years.
• 15:42
  You. Are ahead of the curve.
• 15:45
  You're looking around the corner, right?
• 15:48
  Right. I'm telling you, big news coming
• 15:50
  out today from the Fed. Let's dig into that.
• 15:53
  I always, I always get off track on you guys.
• 15:56
  I really apologize. OK, here we are on zero hedge.
• 16:00
  Look, I got all this colored up for you to make it easy.
• 16:03
  OK, FOMC preview, What is that? Federal Open Market Committee or
• 16:09
  Fed, I don't know, whatever the Fed, big Fed decision today
• 16:12
  about interest rates and monetary policy from three cuts
• 16:15
  to two. OK, We're going to do this color
• 16:18
  by color basement dwellers coming just hours after the May
• 16:21
  CPI print which we just talked about tomorrow's and that would
• 16:26
  be today's and the month's main event is the FLMC decision due
• 16:30
  at 2:00 PM Eastern Time when the Fed.
• 16:32
  Is widely expected to leave rates on hold at 5.25 to 5.5% if
• 16:38
  the Fed raises rates. Katie, bar the door, hold on to
• 16:43
  your gold and silver 'cause we're going to get crushed.
• 16:45
  If the Fed lowers rates, which they likely won't do either of
• 16:48
  those, woohoo. They're going to have to lower
• 16:53
  rates though. Guys, the system is a mess.
• 16:56
  Let me tell you this, Let me tell you this.
• 16:59
  So I'm watching CNBC this morning and they're talking
• 17:02
  about the soft landing. And some of the people were
• 17:04
  saying like that guy Rick Santelli, like the guy, this is
• 17:07
  a bunch of BS. We've got all this government
• 17:11
  debt, the system doesn't work the way it works.
• 17:13
  But they're talking about, oh, we're coming in for a soft, the
• 17:15
  feds doing a great job with the economy and we're coming in for
• 17:18
  a soft landing. And I'm thinking, yeah, we're
• 17:21
  coming in for a soft landing on A7 Boeing 737 where the window
• 17:26
  blew out, right? The engines on fire and the
• 17:29
  landing gear won't come down. But the pilots like, don't worry
• 17:33
  everyone, we're coming in for a nice soft landing, right?
• 17:37
  I mean, soft landing my arse. I'm sorry.
• 17:41
  You know, I think I've used the word.
• 17:42
  Arse and trick today during the live stream.
• 17:44
  If anyone's offended, send me an e-mail.
• 17:46
  I'll stop doing that. Now let's get back to this
• 17:48
  article and the statement. That's the big thing.
• 17:52
  So it's not. Just what they say about
• 17:54
  interest. Rate.
• 17:54
  It's the statement they put out first.
• 17:57
  They put out a statement and then everybody looks at all the
• 18:00
  words. Any of the words change, you
• 18:03
  know, And one word changing could make gold and silver
• 18:05
  skyrocket. One word changing could make
• 18:08
  gold and silver get completely pummeled, largely to be
• 18:13
  reiterated after slight tweaks in the May statement.
• 18:17
  So they may anyway. In Green, attention will fall on
• 18:21
  the summary of economic projections and more
• 18:23
  specifically, the dot plot. Where the number of the dot plot
• 18:27
  is this? For those of you who don't know,
• 18:29
  the number of projected rate cuts in 2024 will be trimmed
• 18:33
  from 3:00 to 2:00. So now everybody's thinking the
• 18:36
  dot plot's going to say they're only going to lower rates twice.
• 18:38
  Instead of three times, I guess the last dot plot.
• 18:41
  I mean, what are these guys playing?
• 18:43
  It's like they're playing like they're playing crossword
• 18:45
  puzzles, dot plots. What is this?
• 18:47
  Connect the dots, y'all? Connect the dots, Jerome.
• 18:50
  You're in big trouble, right? You're trying to land that 737 I
• 18:54
  just described orange after a string of hot inflation reports
• 18:59
  in Q1. Well, we can scratch that now
• 19:01
  because we know inflation's under control.
• 19:04
  It's only it's steady 3.3%. the Fed has been stressing.
• 19:09
  I bet they're stressing stagflation.
• 19:12
  Jerome. Where is he?
• 19:13
  Hold on, let's stress out Jerome.
• 19:15
  For a second, huh? Yeah.
• 19:17
  Hold on here. Where'd he go?
• 19:18
  Here he is, huh? This will stress out.
• 19:21
  Jerome. You ready?
• 19:22
  Stagflation, guys? Stagflation, as you've heard me
• 19:30
  tell you 16 zillion times, is what we're in right now.
• 19:34
  We still have inflation. The economy's stagnating.
• 19:36
  Wait till you hear some of this data we're going to talk about
• 19:38
  later. Nonetheless, I digress.
• 19:41
  Stagflation scares the pants off.
• 19:44
  Him and he's in big, big, big trouble.
• 19:47
  All right, no more. I'm going to go straight back.
• 19:49
  And we're going to. Stick with it till the end, OK?
• 19:53
  After a string of hot inflation reports, the Fed has been
• 19:56
  stressing that the luxury of a strong economy, the strong.
• 19:59
  Economy. That's great, Jerome, as long as
• 20:02
  you're part of the 1%. The wealthiest 1% gives the
• 20:07
  Federal Reserve time to be patient before acting.
• 20:11
  They can be patient. In the hot non farm payrolls
• 20:15
  release, right, that was the the jobs number from Friday that
• 20:19
  unbelievable by dynamic economic miracle that all these illegal
• 20:23
  immigrants are getting jobs and that's OK that Google and Amazon
• 20:27
  and the big I know somebody who just got laid off from Amazon,
• 20:30
  OK. That that the big companies are
• 20:33
  laying people off good high paying jobs.
• 20:35
  But that's OK 'cause we're hiring a bunch of illegal
• 20:38
  immigrants, right? And this says it right here.
• 20:40
  Assuming, of course, that a drop of 625,000 full time jobs is
• 20:45
  viewed as strong last week only gives the Fed more time.
• 20:49
  See that? Everything's great.
• 20:50
  Right. Therefore it is likely the 2024
• 20:55
  median FFR will be revised. That's the the median federal
• 21:00
  funds rate. That's like the average for the
• 21:02
  year as I understand it will be revised.
• 21:03
  Up. From 4.6% or equivalent of three
• 21:08
  rate cuts over the remainder of 2024 penciled in at the March
• 21:13
  meeting. That means that they OK that I'm
• 21:16
  going to let me convert that that to English for you.
• 21:19
  Basically what that purple sentence says is that they're
• 21:22
  going to reduce the number of expected interest rate cuts from
• 21:26
  3:00 to 2:00. And that means that the average
• 21:29
  federal funds rate for the year will go up because they'll be
• 21:33
  fewer rate cuts. I hope that makes sense.
• 21:36
  That's the the meat. Oh, there's the dot plots.
• 21:39
  Yeah, boy, when I look at those dots.
• 21:42
  Look at those real quickly and see what you see.
• 21:44
  I think I see that one on the right looks like a a plane
• 21:48
  coming in for a soft landing and realizing they don't have any
• 21:51
  landing gear. Let's just look at this.
• 21:53
  This is the. Best head spin of it all,
• 21:56
  remember? What I said earlier, guys.
• 21:58
  It, it, it your normal, Your normal?
• 22:02
  If all of this is a little bit confusing because they want it
• 22:05
  to be confusing. Number one, they make it very
• 22:07
  complicated and #2 they lie. So it's almost impossible to
• 22:11
  parse through it, right. But the Wall Street journals,
• 22:15
  Nick, Nicky Leaks, Timorous, he's works for the Wall Street
• 22:18
  Journal and always seems to have the inside scoop of what's going
• 22:22
  on confirming. Listen to this sentence.
• 22:25
  I read this at like 6. In the morning and I'm like,
• 22:27
  what? They know that we know that they
• 22:31
  know that we know. I think I can get a job writing
• 22:36
  for the Wall Street Journal. Thanks for that Nick.
• 22:38
  That made things really clear. Or that quote.
• 22:41
  Most sell side economists and other professional Fed watchers
• 22:44
  now anticipate one or two rate cuts this year in either
• 22:48
  September. Or December.
• 22:50
  That's the expectation. It's going to be interesting
• 22:54
  what goes on this afternoon with the Fed.
• 22:55
  Like I said, guys, be prepared for anything silver and gold
• 22:59
  investors, we can have a red day.
• 23:02
  I don't think that's going to happen.
• 23:04
  But now we have this expectation after the inflation report this
• 23:08
  morning. How do I say this the the path
• 23:11
  of? Least.
• 23:12
  Resistance in a very mild way in my opinion.
• 23:16
  Don't forget, I'm not bragging. I said I'd come on today and say
• 23:19
  if I was wrong. I predicted that we would have a
• 23:21
  low inflation report this morning and that silver and gold
• 23:26
  and the general markets would go up.
• 23:27
  I even said that I might put my money where my mouth is and make
• 23:31
  some type of bet. I didn't do that.
• 23:33
  I looked at. Options, short term options and
• 23:36
  you know it's, it was too risky for me.
• 23:39
  I've done that before and had my arse handed to me.
• 23:42
  But none the less, I'm telling you now as we go into this, the
• 23:45
  the we're a little bit skewed on the side of a potential let
• 23:50
  down. If we can end the day with
• 23:53
  silver above $30, we're going to be partying, OK?
• 23:57
  I'll check in on the community tab with you guys later on once
• 24:01
  the market closes because I think it's real possible.
• 24:04
  I think it's like a 5050 right now that we close the day on
• 24:07
  silver above $30 per oz. OK?
• 24:10
  When in doubt, Zoom Outlook. Let's take stock, OK?
• 24:14
  If you how? Long have you owned silver?
• 24:17
  I've been buying silver for 20 years.
• 24:19
  OK never have sold an ounce. If you own gold, how long have
• 24:23
  you owned physical gold you had been.
• 24:26
  Through the mill, baby, right? You know, like I look like I do
• 24:30
  today because I haven't been able to take a shower in two
• 24:32
  days. My mom's watching right now.
• 24:35
  She'll say you look like something that the cat drug in.
• 24:38
  We have been through the mill, through the absolute no, you
• 24:43
  don't know why. I bet what I'll tell you later.
• 24:45
  I, I, there's very few things I hate in this world.
• 24:48
  But I got a problem I'm dealing with right now and I've been
• 24:50
  dealing with it for a couple years and it has to do with
• 24:53
  Facebook. And I won't.
• 24:54
  Go in that path. But I'm telling you, Facebook
• 24:57
  drives me crazy with their accounts and then and then
• 25:01
  banning or or shutting down one of my old.
• 25:03
  It's a it's the biggest joke in the world.
• 25:06
  OK, I'll, I'll be quiet. You were to get back to your
• 25:10
  silver and gold. You were just thinking about how
• 25:12
  much, how long you've been buying silver and gold.
• 25:15
  You've been through a lot, OK? You have you've been
• 25:18
  traumatized. We've been traumatized.
• 25:20
  We've been lied to, manipulated, all of that.
• 25:24
  Anyone who's invested in silver and gold over I don't care to 1°
• 25:28
  or another. Maybe I'm a sensitive Sally.
• 25:30
  You know that Susie will tell you.
• 25:32
  You can ask Susie send her an emails.
• 25:34
  Ron sensitive. Yes, I'm as sensitive as my mom
• 25:37
  who might be watching. I would always, always say
• 25:39
  Ronnie's so sensitive and I am right.
• 25:42
  I get my. Feelings hurt real easy.
• 25:43
  Whatever you know. I'm shy none the less.
• 25:48
  You didn't come here to hear about me.
• 25:49
  You came here to hear about your gold and silver.
• 25:51
  I apologize. You have been traumatized to the
• 25:55
  extent that you're sensitive, OK?
• 25:58
  We could be heading into a new environment for the silver and
• 26:03
  gold market. All right, let's look.
• 26:06
  Oh, here, here, here, here. Let's zoom out.
• 26:08
  Let's talk about let's take stock.
• 26:11
  We need to take stock. And where is it?
• 26:15
  Here it is Make sure you're seeing this.
• 26:19
  Are we still? Live or did we go on live?
• 26:21
  Uh oh, we might. I might have lost you.
• 26:24
  Well, if you're still there, this came from Wall Street
• 26:27
  silver. We love Wall Street silver.
• 26:28
  Silver squeeze, silver, silver, silver squeeze.
• 26:32
  OK, right there it is. But this guy says when in doubt,
• 26:38
  zoom out. OK, so let's take stock here.
• 26:41
  This is silver from like March of 2021.
• 26:45
  This is the silver price guys. OK, When you zoom out and look
• 26:50
  at where we are, we're in good shape.
• 26:52
  I'm telling you. I'm telling you, I'll make a
• 26:54
  prediction, OK? My, my big prediction I have
• 26:57
  right now is we will have economic turmoil before the
• 27:00
  election. But if we can close above $30
• 27:03
  today, I think it's real likely that we're off to the races.
• 27:07
  There is strength in the silver market, absolutely.
• 27:11
  No doubt about it. And what about gold?
• 27:14
  Let's talk about gold as well. Because you know what?
• 27:17
  Where are we? Are you still there?
• 27:19
  I think we're still alive. I don't know.
• 27:20
  I mean, Susie's not here. Susie's out taking care of her.
• 27:24
  I think her mom's 90. I always get in trouble.
• 27:26
  Everybody's age is wrong. I'm 54.
• 27:28
  None the less, if you're still there and you can still see me,
• 27:31
  thank you for being here. We're having some technical
• 27:33
  glitches this morning, but I want to bring you out now and
• 27:38
  we're going to talk about gold and we're going to talk about
• 27:40
  the fact. That.
• 27:42
  There may not be much gold available in the future.
• 27:46
  There may not be much silver available in the future.
• 27:50
  It's absolutely stunning what is going on right now in the world
• 27:55
  of gold and silver. Let's go out.
• 27:57
  This is CNBC, OK? And look, CNBC is writing daily
• 28:04
  articles. This was from a few days ago,
• 28:06
  but I told you we were going to dig into this and talk about
• 28:08
  two. There's two critical things
• 28:12
  embedded in this article that they don't say.
• 28:15
  But there are those things where you know you put those dot, not
• 28:18
  that dot. Plot from the Fed.
• 28:19
  But you put the dots together in your head and you're like, oh,
• 28:22
  aha, light bulb goes off, right? Light bulb turns on.
• 28:27
  This is good for silver and gold.
• 28:29
  So I'll point those out to you here as we go.
• 28:31
  As we go through this, gold is getting harder to find as miners
• 28:35
  struggle to excavate more in orange.
• 28:38
  The gold mining industry is struggling to sustain production
• 28:42
  growth as deposits of the yellow metal become harder to find,
• 28:46
  said the World Gold Council. When it comes to silver, that's
• 28:49
  even more so the. Case in yellow According to data
• 28:52
  from the international trade association, mine production
• 28:56
  inched up only .5% in 2023 compared to a year ago.
• 29:02
  So gold production was up less than 1%.
• 29:05
  What about silver? It's actually down, OK.
• 29:08
  Remember, there's two big interesting things embedded in
• 29:12
  this, a quote, it's getting harder to find gold and silver,
• 29:17
  permit it, finance it and operate it, said the World Gold
• 29:21
  Council's John Reedy. OK.
• 29:24
  In purple quote, we've seen record first quarter mine
• 29:28
  production in 2024 up 4% year on year.
• 29:32
  OK, Yeah. But.
• 29:34
  The bigger picture I think about mine production is that
• 29:37
  effectively it plateaued around 2016, 2018 and we've seen no
• 29:43
  growth since then. What's?
• 29:46
  One of the key, but this is actually three big deals.
• 29:49
  OK, this is a new one. Bonus, bonus basement dwellings.
• 29:52
  What's one of the biggest attributes?
• 29:54
  To silver and gold, right, It's scarcity.
• 29:57
  You can't print it. There's only so much on the
• 29:59
  planet, OK. And what this guy's telling us
• 30:02
  is that the new supply coming on, right, might have been up
• 30:06
  year on year, but overall is going down, down, down.
• 30:10
  And we know that's also true for gold and silver when the supply
• 30:15
  of anything goes down and the demand goes.
• 30:19
  Up price fixes that. And man, we are ready for a
• 30:25
  slingshot, rubber band, whatever you want to call it move in in
• 30:29
  both gold and silver OK, mine production and step only .5%
• 30:34
  where I talked about that OK and and I think this color is called
• 30:37
  Cayenne this. Blue cayenne, Yeah, new gold
• 30:40
  deposits are becoming harder to find around the world.
• 30:45
  So is silver, as many prospective areas have already
• 30:48
  been explored, he elaborated. You can't find new gold, you
• 30:53
  can't find new silver. I talked to the CE OS.
• 30:56
  It's very difficult. Green large scale gold mining is
• 31:00
  capital intensive and and silver mining and requires significant
• 31:04
  exploration and development taking an average of 10 to 20
• 31:08
  years. I had to give CNBC some credit.
• 31:10
  This is a good article. Before a mine is ready for
• 31:13
  production according to the World Gold Council.
• 31:16
  So they're finding. Think about the next. 10 to 20
• 31:19
  years, you know what, I hope we're down here together,
• 31:22
  basement dwellers during that whole period, I love you guys,
• 31:25
  but over the next 10 to 20 year, 20.
• 31:27
  Years. There's there's.
• 31:29
  Less, less and less and less gold and silver being being
• 31:35
  developed, being brought online, being mined, right?
• 31:38
  They can't find it. And it gets even worse even
• 31:41
  during the exploration process in yellow.
• 31:44
  The likelihood of a discovery. Progressing into the development
• 31:48
  of a mine is low, with only about 10% of global gold
• 31:51
  discoveries containing sufficient metal to warrant
• 31:55
  mining. This is just.
• 31:57
  Crazy government permits are getting harder to secure, right?
• 32:00
  We know with Silver Mexico trying to basically shut down
• 32:04
  the silver mining industry to secure and requiring more.
• 32:08
  Time to come through have made mining more difficult.
• 32:11
  Mini mining projects are planned for remote areas.
• 32:15
  I mean, it's this is crazy. It's true too, right?
• 32:18
  The projects now are in these remote areas that require
• 32:21
  infrastructure to be. Built such as roads, power and
• 32:24
  water, resulting in added cost to building these mines and
• 32:28
  financing operations, he says it's getting harder.
• 32:31
  OK, what are the what are the big key takeaways from this
• 32:36
  article? Well, here we are.
• 32:38
  We're back, OK. There's a lot.
• 32:42
  Let's just, let's just. Are you, are you feeling after
• 32:45
  reading that with me right that the future supply, the big
• 32:49
  picture, the future supply of gold and silver as well is going
• 32:54
  to be constrained, There's going to be less supply of.
• 32:58
  Both the metals and you know the story on silver.
• 33:01
  More than half of it's getting consumed every year.
• 33:04
  When an ounce, When 2/3 or more of an ounce of silver get put
• 33:07
  into a solar panel, bye bye. You aren't going to see it
• 33:10
  again, if ever. It's as soon as 15 or 20 years
• 33:13
  out into the future. OK.
• 33:16
  The other big key take away is that development stage companies
• 33:20
  could. It's unbelievable.
• 33:23
  The market cap of the mining stocks is, is just it's, it's,
• 33:27
  it's the values are crazy, crazy low.
• 33:31
  They're telling us they can't find gold.
• 33:33
  OK, But you look at any development stage, gold or
• 33:37
  silver mining company, any exploration gold or silver in
• 33:41
  their valuations are it's the toilet of the toilet, OK?
• 33:45
  There's no money in that sector right now.
• 33:48
  It's it's, it's sad, but true, OK.
• 33:51
  I think that those companies could offer an unbelievable
• 33:55
  opportunity for capital appreciation.
• 33:57
  Don't make any investment decisions based on what I'm
• 34:00
  saying. That's just what I see.
• 34:02
  One of those companies is first Mining gold, OK, they've got 2
• 34:06
  multi million ounce projects in Canada that they're working
• 34:09
  through the development phase, OK, you know, and they have five
• 34:14
  or four other projects that they have an interested in all in
• 34:17
  Canada gold in the ground that's already been drilled, already
• 34:21
  explored, right, but they're working through.
• 34:24
  That permitting process that this author talked about, it
• 34:27
  takes years and years, OK? First, mining is getting, you
• 34:32
  know, they've been working on permits for five or six years on
• 34:34
  one of their projects, Spring pole.
• 34:36
  It's getting closer. And at some point, these big
• 34:39
  gold mining companies, their pipelines are running dry.
• 34:42
  They're going to have to look for more gold.
• 34:44
  OK, doom time. Are you ready for some doom?
• 34:50
  Are you ready? Are you ready?
• 34:52
  Because I'm going to show you right now.
• 34:54
  The Black Swan. Where's the Black Swan?
• 34:56
  Susie, put the black hold on one second.
• 34:59
  There he is. You can't see him.
• 35:01
  Are you ready for this guy? Huh.
• 35:03
  Yeah, the old Black Swan. Hello.
• 35:05
  I'm here, right? I'm here.
• 35:08
  We'll put him there. He'll get knocked off.
• 35:10
  OK, Let's talk about commercial real estate.
• 35:13
  Let's go to our. Friends at the Silver Academy
• 35:18
  could see if I can get that right.
• 35:20
  Yeah, this is crazy, guys. This is commercial real estate.
• 35:24
  It's from the Silver Academy Substack.
• 35:26
  There's a link to it in the description of this video.
• 35:28
  I'm not sponsored by them. I just love their content.
• 35:31
  New York City office building. I want you to.
• 35:34
  Think about the banking sector and Black Swan as we talk about
• 35:38
  this because it's going to get it's going to get scary So.
• 35:41
  So buckle up, buttercup. New York City Office Building,
• 35:45
  321 W 44th Street, is set to be sold for less than. $50 million,
• 35:50
  Sixty 7%. Off what it sold for just a few
• 35:54
  years ago, Tuesday June 11th. OK, the eye on commercial real
• 35:59
  estate collapse of 2024. There's New York City commercial
• 36:04
  real estate collapse will set off the great financial collapse
• 36:08
  of 2024. OK, the New York City office
• 36:11
  building. Previously this year, FedEx
• 36:14
  building in Ohio sold for $9 per square foot.
• 36:17
  In Saint Louis, it's unbelievable.
• 36:19
  Where I live here in Saint Louis, the AT&T building
• 36:22
  downtown, which I used to go to all the time, right?
• 36:26
  I had an executive recruiting and, and IT consulting business
• 36:29
  that I own. I would be down there all the
• 36:32
  time. It was the one of the nicest,
• 36:33
  biggest office buildings in Saint Louis.
• 36:36
  It sold for like like 5% of what somebody had paid for it.
• 36:41
  I don't know, 12-14 years ago. I mean, the numb, it's just mind
• 36:45
  numbing, OK? Now, Saint Louis is the, you
• 36:47
  know, the downtown Saint Louis is like a litter box, a cat
• 36:53
  litter box that hasn't been cleaned in four year or four
• 36:56
  days. OK.
• 36:58
  There's a few clean spots in it, but it's mostly full of you know
• 37:01
  what, OK. But nonetheless, the Xerox
• 37:04
  building in Washington, DC just last week, OK, these banks.
• 37:09
  These banks loaned money on these buildings.
• 37:12
  These buildings were collateral for loans.
• 37:15
  OK, it's a big deal. The FDIC announced that 63 banks
• 37:19
  were teetering on the brink of insolvency.
• 37:22
  What do you think will happen when the banks get hit with
• 37:24
  these? Defaults in purple banks do not
• 37:27
  have the liquidity to absorb these losses.
• 37:29
  Everybody knows that welcome to the great collapse of 2024,
• 37:34
  where bankers profits are privatized and their losses are
• 37:38
  socialized. That's what happened during the
• 37:40
  great financial crisis of 2008, right, guys?
• 37:44
  They kicked the can down the road.
• 37:47
  This this the the great financial crisis.
• 37:50
  Let's go back what I don't know how many years.
• 37:51
  That was 16 years ago. They kicked the.
• 37:55
  Can down the road if you're a banker.
• 37:58
  And you make profit, right? You get to take all this risk.
• 38:01
  You get to get great big bonuses.
• 38:03
  If everything collapses, guess what?
• 38:06
  The government bails you out. And there's no ramifications.
• 38:10
  And now this is true. And this is.
• 38:12
  Scary. We're we're get, we're getting
• 38:16
  to the point where the hens are coming home to roost, where the
• 38:19
  piper has to be paid. OK, it, it, there's no escaping
• 38:24
  it. You can only manipulate and the
• 38:27
  numbers for so long. There is no escaping it.
• 38:30
  Let's get back to our article. See what else we got highlighted
• 38:33
  here for you. There we go.
• 38:35
  There's the Ohio building, so for $2.4 million, I mean. 2.4
• 38:41
  million for these giant buildings.
• 38:43
  I think the one in Saint Louis has been bigger sold for sold
• 38:47
  for like 5 million or 4 million. It's it's crazy.
• 38:50
  Or three million, I don't know. It's nuts.
• 38:52
  That's in Ohio, OK. The US recession. the US is in a
• 38:56
  recession and the leadership is in full theft mode.
• 38:59
  OK, the villagers listen to this.
• 39:02
  That's us. We're the villagers.
• 39:04
  Basement dwellers in the USA are facing increasing state of
• 39:08
  desperation. It is clear that a significant
• 39:11
  portion of Americans are struggling to afford basic
• 39:15
  necessities and emergency expenses.
• 39:18
  Nearly 40% of our fellow Americans think of that.
• 39:21
  Think of 10 of your neighbors and four of them struggle
• 39:25
  struggle to pay for basic needs like housing and food.
• 39:28
  Almost 7 out of 10 Americans couldn't cover their living
• 39:32
  expenses for even a month. If they lost their job, wow. 60%
• 39:39
  of Americans cannot afford a $1000 emergency expense. 6 out
• 39:45
  of 10. People can't absorb a $1000
• 39:49
  expense. Inflation has forced many
• 39:50
  Americans to spend significantly more just to maintain the same
• 39:55
  standard of living as before, an extra $11,400 per year on
• 39:59
  average, according to analysis, and I've seen that number quoted
• 40:03
  many, many times. Lower and middle income
• 40:05
  households are especially strained, yes, because they're
• 40:09
  getting killed by inflation as they spend a larger portion of
• 40:13
  their income on essentials like food, which have steep price
• 40:17
  increases. OK.
• 40:19
  Next off we're going to go we're going to go talk about so that's
• 40:22
  commercial real estate boom, BAM, bank crisis, OK, bank
• 40:28
  crisis on the commercial real estate as long but let's let's
• 40:32
  go, let's go out there. Let's go back to pin backs here
• 40:35
  first. You know what?
• 40:36
  Let's say thank you to our other channel sponsor, Fortuna Silver.
• 40:40
  Mines Silver is having a good day.
• 40:42
  We're going to go to pin backs and get an update on the price
• 40:44
  here in a second. Last we checked.
• 40:46
  Silver was having a great day. Fortuna mines silver in Mexico
• 40:51
  and Peru, they mine gold in Argentina, they mine gold and
• 40:55
  Burkina Faso, and they mine a lot of gold at their newest mine
• 40:59
  in in the ivory. Coast Cote d'Ivoire.
• 41:02
  Is the other way to say that the seguela?
• 41:04
  Mine and they've got this awesome big new.
• 41:08
  Advanced stage exploration, some might say development stage
• 41:12
  project in Senegal, the Diamba suit project.
• 41:15
  And it's going to be really interesting to see what all
• 41:18
  these mining companies report as earnings for the second quarter
• 41:22
  because the average price of silver and gold have been higher
• 41:26
  than ever. So I think the if you own any of
• 41:29
  the mining stocks, it's going to be crazy that's going to bring.
• 41:32
  What does that mean? What does that mean for the
• 41:35
  price of silver and gold? Maybe you don't own mining
• 41:37
  stocks. Maybe you own both, right.
• 41:39
  I own silver and and gold and silver mining companies.
• 41:43
  Maybe you own gold and silver. You're like, why do I care about
• 41:46
  the mining stocks? I'll tell you why you care,
• 41:49
  because when the mining stocks catch fire, that's going to
• 41:52
  bring more attention to the overall metals sector guys.
• 41:58
  And don't forget, OK, don't forget here, let's take a look
• 42:01
  at. This this is exciting.
• 42:04
  Hold on here. I'm here.
• 42:06
  Don't, Don't, don't. Don't.
• 42:07
  Don't. Don't.
• 42:08
  Don't forget. We're gonna go fly through.
• 42:11
  These blue do do do do. We're gonna go over looking for
• 42:15
  our friend Jordan Roy Byrne. Where is he?
• 42:19
  Where are you, Jordan, Where are you?
• 42:21
  You're coming up. I can feel it.
• 42:23
  I can feel it. There he is.
• 42:26
  There's the comex. That's not what we're showing
• 42:30
  you. There's Jordan right down there,
• 42:35
  Great guy, smart guy. He had this chart that I think
• 42:38
  is so key for us to look at. OK, Remember, as those gold and
• 42:42
  silver mining stocks take off, it's going to bring attention to
• 42:46
  the overall metals sector. It won't hurt and it likely.
• 42:51
  Could be a big big. Benefit, Let's all have a sip of
• 42:54
  coffee. I'll be right back.
• 43:04
  OK, what this shows us guys is the oh shoot, hold on, let's see
• 43:09
  if I can get rid of this. Tired of looking at that anyway,
• 43:13
  how do I get rid of that thing? Hold on, bear with me.
• 43:19
  Overlay show. Show.
• 43:23
  Gosh darn it, here we are. Technical diff.
• 43:25
  Here we go, we're getting rid of that.
• 43:27
  And here we go. This shows us gold ETFs as a
• 43:32
  percentage of all ETFs, guys, we only have look at the lower
• 43:37
  right corner. This goes back to what, 2006,
• 43:39
  like 20 years Basically we're at 1% of of, of of.
• 43:46
  All money that's in gold ETFs as a percentage of all the ETFs.
• 43:53
  Look back here that got as high as 8.
• 43:54
  Percent 7 percent 6% Heck, I mean.
• 43:59
  That's the beauty of the situation we're in right now.
• 44:01
  You got to realize this as a silver and gold investor, right?
• 44:06
  1% of the money. Is in these.
• 44:09
  ETFs 1%, OK, it was as high as 8%.
• 44:14
  It's been over four percent, 5%. Let's just say we get the three
• 44:17
  percent, 3% that's. Three times as much money.
• 44:23
  It's it's in there now. Think about that.
• 44:25
  What happens if three times as much money?
• 44:28
  And remember what we talked about earlier about the silver
• 44:31
  mining companies, The total market cap is $15 billion.
• 44:35
  GameStop had a higher market cap than all the silver mining
• 44:38
  companies at one point last week.
• 44:41
  The entire silver mining industry market cap is less than
• 44:46
  5% of the market cap of The Home Depot.
• 44:50
  I hate Facebook, but I really don't like going to those big
• 44:53
  hardware stores. I'm sorry, I don't know why.
• 44:55
  None the less I digress. The money coming into this
• 44:59
  sector could be overwhelming and it will result in major, major
• 45:04
  money coming into into the, the the the the physical metals as
• 45:09
  well. All right, let's get.
• 45:11
  Back here. Hold on, let's go.
• 45:14
  Now we talked about the banking black Black Swan, OK, and the
• 45:18
  banking Black Swan from the perspective of the commercial
• 45:23
  real estate market. But now let's talk about it from
• 45:26
  the perspective of the Treasury. And this is just interesting on
• 45:29
  the unrealized loss problem. As interest rates rise, the
• 45:33
  price of Treasury bonds and mortgage-backed securities fall.
• 45:36
  This is another reason why what we started with, think about
• 45:39
  this, connect the dots, another reason why when we talked about
• 45:44
  earlier, the inflation numbers are down.
• 45:46
  That's going to allow the Fed to lower rates soon.
• 45:48
  Do you know another reason why they want to juice it for the
• 45:51
  election? But another big reason why they
• 45:53
  want to get rates down is it reduces stress on the banks
• 45:57
  because they bought all these treasury bonds, all these
• 46:01
  mortgage-backed securities with your money that they lost their
• 46:04
  arches on, OK? And that's a big, big, big
• 46:08
  problem, OK? The decline of these assets
• 46:11
  prices has put a dent in bank balance sheets.
• 46:14
  A big dent. OK, the highlights in purple.
• 46:18
  In other words, the Federal Reserve incentivize the bond
• 46:22
  buying spree that talks about the years of 0% interest rates.
• 46:25
  I didn't want to bore you with all that.
• 46:27
  Also in purple with the Fed keeping interest rates
• 46:29
  artificially low for more than a decade in the wake of the 2008
• 46:33
  financial crisis, right? Which was a big.
• 46:36
  Joke kick the can down the road and slamming rates to 0 again
• 46:41
  During the C19 crisis, most people began to assume that the
• 46:45
  era of easy money would never end but what the Fed giveth, the
• 46:50
  Fed taketh away. The easy money had to end when
• 46:53
  price inflation reared its ugly head thanks to the stimulus
• 46:57
  mania during the C19 crisis, and the Fed could no longer
• 47:02
  plausibly claim it was transitory.
• 47:09
  Remember. That don't even believe, well,
• 47:11
  why do we believe the Fed? Remember, inflation was
• 47:13
  transitory, inflation was temporary, inflation was would
• 47:16
  never be a problem. We're not going to raise rates
• 47:19
  till the end of 2023 and they raised rates at a record pace
• 47:23
  throughout 2020. Two, the Fed's wrong all the
• 47:27
  time. OK, let's go down here, right
• 47:30
  here to unrealized. So the banks here's here's the
• 47:32
  deal. The banks have a ton of
• 47:35
  unrecognized losses on their ban.
• 47:38
  And I'm going to make this, I'm going to make this real clear
• 47:40
  for you why this is a crisis #1 why it can be good for gold and
• 47:44
  silver, but how it relates to you as an individual, OK.
• 47:49
  Unreal loss, Wolf St. says as unrealized losses don't matter
• 47:55
  until they suddenly do. In reality, the unrealized
• 47:59
  losses matter a lot, as we saw in the above 4 banks.
• 48:03
  They were talking about the bank.
• 48:04
  Remember the little banking crisis a year and two months ago
• 48:08
  after? Depositors.
• 48:09
  Depositors figured. Out what's on their balance
• 48:13
  sheets and yanked their money out, which forced the banks to
• 48:17
  try to sell those securities, right?
• 48:19
  The banks needed money, so they needed to liquidate their
• 48:22
  securities, which would have forced them to take those
• 48:25
  losses, recognize the unrealized losses, at which point there
• 48:30
  wasn't enough capital to absorb the losses and the banks
• 48:35
  collapsed. All right, the Fed papered over
• 48:39
  the problem. Remember the BTFP?
• 48:40
  We haven't. Nobody talks about that anymore.
• 48:43
  The Bank Bank Term Funding program that allowed troubled
• 48:45
  banks to borrow money against their devalued bonds.
• 48:49
  At face value it would. Basically be like if you bought.
• 48:52
  A stock or a bond or something and lost a bunch of money and
• 48:56
  your daddy or your grandpa said, well don't worry about it
• 48:59
  buttercup, I'll buy it from you for what you paid for it.
• 49:03
  OK, I'll give you your all your money back.
• 49:05
  I hope you learned a lesson. But these bankers never learn a
• 49:08
  lesson, right? It allowed banks to quickly
• 49:11
  raise capital against their bond portfolios without realizing big
• 49:15
  losses in an outright sale. It gave banks a way out, or at
• 49:20
  least the opportunity. To kick the.
• 49:22
  Can further down the road for another year, but the BTFP was
• 49:27
  shut down in March and banks haven't paid back much of the
• 49:30
  money they borrowed. As of April 30th, the BTFP still
• 49:33
  had an outstanding balance of under 148 billion.
• 49:37
  The highest level of unrealized losses still sloshing around in
• 49:41
  the banking system means a lot of banks are in the same
• 49:45
  precarious position as SV BS Silicon Valley Bank was last
• 49:51
  year. The commercial and then it goes
• 49:53
  into the commercial real estate problem.
• 49:54
  We just talked about that. So these banks are in big
• 49:57
  trouble. This would be like this
• 49:59
  unrealized loss problem. It would be like if you bought
• 50:02
  Apple stock for your 6 year old child's college fund.
• 50:07
  OK and you paid $220 whatever Apples tree you bought some
• 50:12
  Apple stock and I'm going to invest in Apple computer cause.
• 50:15
  Apple's a tech stock. And it never goes down, right?
• 50:20
  So you buy it today at 220, let's say six years from now,
• 50:25
  that stock's only worth $50 a share.
• 50:28
  You've lost 75% of your value, 80%, whatever the case may be.
• 50:32
  And you're like, well, it doesn't matter because I don't
• 50:34
  need to. I don't need the money for
• 50:36
  another six years because your child's only 12.
• 50:39
  Well, then six years from then, right?
• 50:41
  If that stock's not back, at some point you got to realize
• 50:45
  the loss. You got to realize, well, this
• 50:47
  is crazy. I owe you an.
• 50:49
  Apology, Jay my friend Jay, one of our basement dwellers.
• 50:52
  I owe a. Big, big apology, Mr. Jay, right
• 50:56
  he. Sent something to me and this is
• 50:58
  going to this is going to sum it up.
• 50:59
  The banks have a massive problem with commercial real estate.
• 51:04
  The banks have a massive problem with the Treasuries now lower
• 51:07
  interest rates like we talked about, we're putting the dots
• 51:10
  together, could help the banks quite a bit.
• 51:12
  OK, so it'll be interesting what Jerome says later today.
• 51:16
  Maybe that's why he didn't renew the BTFP program.
• 51:20
  Maybe he knew that loosening lowering of rates is on the.
• 51:23
  Way could this be what David Hunter talked about as we're
• 51:27
  moving into this period where they'll be this like blow off
• 51:30
  top and he doesn't use that term.
• 51:31
  I forget what he uses, but. Where the markets go up crazy,
• 51:36
  everything goes up crazy, right? Wouldn't Joe Biden and his press
• 51:40
  secretary love that? Oh, everything's wonderful,
• 51:42
  Everything's awesome, right? But wait till you hear this.
• 51:45
  This is going to get ready. Strap yourself in buttercup,
• 51:49
  'cause this is maybe you know. This.
• 51:51
  Maybe you don't, but we're talking about black Swans, OK?
• 51:55
  And this is from our friend. Jay, do you know?
• 51:59
  What a large group of black Swans is called a large group of
• 52:04
  black Swans. OK, This is like nature, nature
• 52:07
  time. It's called a bank.
• 52:09
  And that's the truth. I looked it up.
• 52:11
  The San Francisco Zoo even said it.
• 52:14
  While while a group of black Swans in flight is called a
• 52:17
  wedge. So when they're flying, it's
• 52:18
  called a wedge when there's a large group of them, I guess on
• 52:21
  the ground in reality. It's called a bank.
• 52:25
  Isn't that ironic? A large group of black Swans is
• 52:29
  called a bank. Let's go out and check on the
• 52:35
  price of silver and gold. Basement dwellers.
• 52:39
  Let's look. We got to be prepared for
• 52:41
  anything. Who knows?
• 52:43
  It could be red. All right, I'm going to.
• 52:44
  Press the refresh button. Everybody take a deep breath.
• 52:48
  OK, Silver up 62 cents at 2993. Let's go 30.
• 52:54
  Huh. Let's go 30.
• 52:56
  Gold 2328, man, it's going to be interesting.
• 53:00
  Let's go take a look at the headlines real quickly and see
• 53:04
  what they're saying. Inflation.
• 53:05
  Down right. Yeah.
• 53:06
  OK, whatever, Whatever. They still have it.
• 53:12
  The Dow jumps, right? This could be a crazy summer,
• 53:16
  guys. Let's go out.
• 53:18
  Let's go check out Zero. Hedge real quick.
• 53:21
  That's homemade WASP repellent. If you guys see my screen, my
• 53:26
  daughter, this is fun, not funny.
• 53:29
  I'll tell you a quick story. My daughter Evelyn, who's now
• 53:31
  12, she was three, Susie was over taking care of her mom on a
• 53:35
  Saturday night and my mom and dad were with me here at the
• 53:39
  house. We had this little kid
• 53:40
  Playhouse, one of those little little Tikes playhouses, and my
• 53:44
  daughter, I built a little wooden deck for underneath.
• 53:46
  My daughter Evelyn was in there and she was like.
• 53:49
  Daddy, Daddy, come here. Come here.
• 53:52
  And there's a little sink in there, a little plastic sink
• 53:54
  with like two drawer, 2 little cupboard, whatever underneath
• 53:57
  it. She opens the door, she said.
• 53:59
  Look, there's a ladybug. And she was three years old, and
• 54:03
  as soon as she said that, it was a wasp, and I saw it land on her
• 54:07
  hand and sting her and man, she screamed like nothing I'd ever
• 54:11
  heard in my life. And her hand swelled up.
• 54:13
  It was real scary, actually. Let's see what Zero Hedge has
• 54:16
  going on. Wall Street OK reacts to today's
• 54:20
  dovish. CPI shocker, down and out, OK.
• 54:26
  All. Right.
• 54:28
  That was good news. That was good news, but it is
• 54:32
  one piece of news. June is a no go.
• 54:35
  That means the Fed's not going to cut rates today.
• 54:37
  Guys, we felt July the same again.
• 54:41
  Today is a good print for restrictive rates working to
• 54:43
  quell inflation and September is still a possibility.
• 54:47
  So they're saying September. Consumer prices hold at record
• 54:55
  highs, up 20% since Biden elected, right?
• 55:00
  Yeah, inflation. Let's do.
• 55:02
  We're doing great on inflation. We beat the expectation by .1%.
• 55:07
  But let's look at the inconvenient truth here, guys.
• 55:09
  Since President Biden's not a political show, just reality.
• 55:13
  Since President Biden has been elected, prices are up 20%.
• 55:17
  I mean, and you know that you go to the grocery store, I go to
• 55:20
  the grocery store, right? Biden approved sending second.
• 55:23
  Yeah, OK. We're not.
• 55:24
  We're not even even. Talking about this, OK, we're
• 55:27
  not even talking about this. Let's touch on this quickly.
• 55:31
  The situation in Europe, the war in Europe is not getting any
• 55:35
  better and could could result in some scary developments here in
• 55:39
  the next six months. Right?
• 55:41
  Tinfoil hat time, I'll say it. Not making a prediction, but
• 55:45
  when, when things get really difficult sometimes for
• 55:48
  political leaders, sometimes they like to have crisis occur
• 55:52
  because that allows them to kind of galvanized support amongst
• 55:55
  themselves. So we're going to be keeping an
• 55:56
  eye on that situation. Thank you for being here.
• 55:59
  Hey, thank you to our sponsors Pinbex.
• 56:01
  Pi MB, EX. If you're looking for gold and
• 56:03
  silver, go to pinbex.com first. Mining gold and.
• 56:07
  Fortuna Silver, but thanks to you for being here.
• 56:11
  You are the most important part of the base basement.
• 56:14
  Thank you to all of the Oh my gosh, hold on here Clifton.
• 56:20
  Thank you for the Super chat. I almost forgot California is
• 56:23
  crazy. Yeah.
• 56:24
  California. Thank you Clifton and thank you
• 56:27
  metal Sear me and you guys are overly generous with me.
• 56:31
  It goes a long way to help support the family, so thank you
• 56:34
  so much. OK, let's see what else we got.
• 56:36
  Who else is here? Hey, Jake from Jake's custom
• 56:39
  parts. Nice to see you, my friend. 8 is
• 56:41
  great. Yes, guys, Type 8.
• 56:43
  I haven't done that forever for the moderators.
• 56:46
  Daniel, Good to see you. Dan W All right, Matt.
• 56:50
  Yeah, we need. More likes.
• 56:52
  I can't see how many likes we have, and Susie is not here.
• 56:55
  So you know what? I'm going to ring the bell,
• 56:56
  presuming we got the 200. Thumbs up our old friend Joe FI
• 57:02
  Don't know if we still see him around here anymore.
• 57:06
  Only up $0.58. Now they're dumping paper and
• 57:10
  China, India are happy to buy. Still arbitrage?
• 57:12
  Yeah, let's go. Let's go look and see.
• 57:15
  Thank you for that comment. OK, there's Clifton.
• 57:20
  OK, hold on. Let's go take a look at the.
• 57:25
  Let's go take a look at the what the our friend the Shanghai
• 57:28
  Ghost has to say about the the silver price in Shanghai.
• 57:31
  We forgot to check that today. Hold on.
• 57:34
  Here. All right, let's go to Twitter.
• 57:41
  Tweeter, Tweeter. It's happening on X.
• 57:46
  Let's see what the Shanghai Ghost has to say.
• 57:49
  There he is. All right.
• 57:51
  Six hours ago after today's close.
• 57:54
  Many people are discussing the outflow of OTC silver and silver
• 57:59
  vault fell below 700. Oh, we forgot to talk about
• 58:02
  that. Yeah, guys, the amount there is
• 58:04
  a little bit of panic spreading. Wow.
• 58:07
  As for Silver Vault of the Shanghai Gold Exchange, it
• 58:11
  hasn't been declared for customs.
• 58:13
  It can disappear in just one night down here in red.
• 58:18
  He says this the vaults of the Shanghai Futures Exchange
• 58:21
  dropped to a new low and fell below 700 tons for the first
• 58:26
  time since 2020. Why is that significant guys?
• 58:34
  Why is that significant? And I forgot there's AI had an
• 58:36
  article from Silver Academy talking about how this, this
• 58:40
  Shanghai, the, the, the vault, the amount of silver that's
• 58:44
  there. This is a physical market #1 OK,
• 58:51
  they can't leverage like they do at the COMEX and the LBMA.
• 58:55
  But I want you to think about this.
• 58:57
  The lowest since 2020. That's four years.
• 59:02
  That's a long, long time. And, and when we consider what
• 59:08
  do you think it means when you consider that the amount of
• 59:11
  metals like how different the Shanghai Gold Exchange and the
• 59:15
  Shanghai Futures Exchange is now as compared to four years ago?
• 59:20
  I'm not a guru, I don't know. But I think it's a a safe
• 59:24
  assumption for us to say that the Shanghai Gold Exchange and
• 59:28
  the Shanghai Futures Exchange are much more important now as
• 59:33
  opposed. To.
• 59:34
  Four years ago and now the vaults are at a much, much
• 59:38
  lower, lower, lower place. OK, look at the gold.
• 59:42
  Are the silver price all right, $33.25.
• 59:48
  That's $4.00 higher than where the COMEX in the LBMA were when
• 59:52
  these numbers were put out. Four dollars.
• 59:56
  OK, it's absolutely crazy, but let's go back to what he's
• 59:59
  saying here. Let's let's reread this.
• 1:00:03
  This is the Oriental Ghost. This guy is awesome, and I'm
• 1:00:07
  trying to get him to come on the show with us, but not yet.
• 1:00:10
  After today's close, many people are discussing the outflow of
• 1:00:14
  the OTC silver and the silver vault falling below 700 tons.
• 1:00:19
  There's a little bit of panic spreading, a little bit of panic
• 1:00:24
  spreading. That's how big panic start with
• 1:00:27
  little bits. By the way, As for the silver
• 1:00:29
  vault of the Shanghai Gold Exchange, it hasn't been
• 1:00:32
  declared for customs. It can disappear in just one
• 1:00:36
  night. Wow.
• 1:00:38
  I want to see if anybody has any comments on here.
• 1:00:43
  No, Shanghai Gold Exchange Vault silver is roughly equal to COMEX
• 1:00:51
  eligible silver stored in COMEX warehouses, but without a
• 1:00:55
  warrant attached to it. All right, so interesting
• 1:00:58
  developments still in China. OK oh, here this guy says he has
• 1:01:03
  some extremely interesting information.
• 1:01:07
  Faith Walker 777 Interesting. I learned some very extremely
• 1:01:11
  interesting info yesterday. Hopefully can dig into it today,
• 1:01:15
  but way bigger than China and one leader got taken out
• 1:01:19
  yesterday. I OK, Wow.
• 1:01:21
  Interesting. That doesn't seem the question
• 1:01:25
  is why silver prices reacted to this.
• 1:01:28
  All right, what's this guy doing?
• 1:01:30
  Poof. Let's take a look at that.
• 1:01:34
  That's the comex. All right, here we go.
• 1:01:37
  Right. Yeah, All right.
• 1:01:40
  And by we trust. Yeah, we love this guy.
• 1:01:42
  Here we go. Registered.
• 1:01:45
  It was unchanged open interest. So the vault totals at the COMEX
• 1:01:49
  look for eligible to have gone up a little bit.
• 1:01:54
  Wow, here. I like this guy.
• 1:01:56
  His prediction is eventually we get to 300 and then $400.00
• 1:02:01
  silver and then people will sell, but the final landing
• 1:02:04
  point will be more like 11,000. So you have XRP, you can
• 1:02:09
  tokenize it and never have to sell your silver.
• 1:02:13
  Interesting. All right, guys, I appreciate
• 1:02:15
  you joining me today again. It's been awesome.
• 1:02:18
  Daniel, thank you to all the oh, did I get a super chant here.
• 1:02:23
  Another one. Hold on here.
• 1:02:26
  Hey, metal sear. Goldmine.
• 1:02:29
  Wow. Thanks again.
• 1:02:31
  Metal sear. Thank you for being here.
• 1:02:34
  I'm going to sign off. Wow.
• 1:02:35
  It's going to be an exciting afternoon.
• 1:02:37
  Let's keep our fingers crossed, right that Jerome, if Jerome
• 1:02:41
  comes out with something that's perceived as being hawkish.
• 1:02:45
  We're going to be OK either way. Guys, we're going to be OK
• 1:02:48
  either way. It's all really a bunch of
• 1:02:50
  noise. Even if it's if it's bullish and
• 1:02:53
  good for the gold and silver price, what the Fed says later
• 1:02:56
  today, it's still, you know, we'll be happy and it and and I
• 1:03:00
  think it'll be a step closer to the truth coming out the real
• 1:03:05
  value of silver and gold. But if it's not bullish, if we
• 1:03:09
  do end up red today and the silver price, it's OK.
• 1:03:13
  It's all really is all short term noise.
• 1:03:16
  So I'll see you. Later, thanks for being here,
• 1:03:18
  thanks for the Super chats, thanks for the support.
• 1:03:21
  I'll look forward to seeing you next time.