Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 $1 Silver Price MOVE 🚨 Presidential Debate and PCE - THIS is Happening!

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🚨 $1 Silver Price MOVE 🚨 Presidential Debate and PCE - THIS is Happening! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:02
  Silver investors could likely see a massive BM big move
• 0:08
  tomorrow in the silver price. No, not bad BM.
• 0:11
  We don't want one of those. We want ABM big move and we want
• 0:15
  to see it to the upside. I'm going to explain to you why
• 0:19
  I'll make that prediction that tomorrow we could actually see a
• 0:22
  $1.00 per oz move in the silver price.
• 0:27
  Now look, you're joining me in the basement.
• 0:29
  That's a big, big deal. I appreciate you being here.
• 0:32
  I'm just sharing with you my opinions, my forecast based on
• 0:38
  what I see. So don't go making any wild
• 0:40
  financial decisions based on what I'm telling you.
• 0:43
  I'm often wrong, but I'm also often right.
• 0:47
  And when I look at what's going on right now, big news will come
• 0:50
  out tomorrow. Not to mention we have a little
• 0:54
  presidential debate, which I'll touch on briefly here in a
• 0:57
  moment. But massive news tomorrow.
• 1:01
  Look, we don't like this, but tomorrow the market will be
• 1:05
  moved by some crazy economic data that will get PCE.
• 1:11
  Now, we talked about this, guys. We were kind of out of the woods
• 1:14
  in terms of economic data quote, UN quote in the Federal Reserve
• 1:20
  having a lot of sway over the silver and gold price.
• 1:23
  And I still believe, I don't know how you feel about this,
• 1:26
  but that those factors are becoming less and less
• 1:30
  important, right? The the gold and silver have
• 1:33
  decoupled in a lot of ways from a lot of the previous Co
• 1:37
  relations. But for whatever reason, right
• 1:39
  now we're in a situation where these goofy little economic
• 1:44
  reports are going to matter again.
• 1:46
  So we're going to talk about the PCE, we're going to go to
• 1:49
  school, basement dwellers and learn a little bit about it, but
• 1:53
  we're also going to look at some crazy data about Japan.
• 1:57
  Have you ever looked at a the chart that shows the price of
• 2:01
  silver in Japan and how that relates directly to us right now
• 2:07
  in the United States, in Canada, right in the Western countries,
• 2:12
  we're in the same, pretty much identical situation as Japan.
• 2:16
  And when we talk about what silver has done in Japan, your
• 2:20
  socks will be knocked off. So hold on to your socks.
• 2:23
  Let's get started. Let's let's talk about oh, also
• 2:26
  you're losing hope, right? If you do know that Americans,
• 2:30
  congratulations, we're losing hope.
• 2:34
  I won't comment on that, but someone who did comment on it
• 2:38
  was the the lady that's like the head of the University of
• 2:41
  Michigan consumer sentiment. We're going to touch on that as
• 2:44
  well. The presidential debate tonight,
• 2:46
  guys. Is it going to move the market
• 2:48
  tomorrow? Probably not, but you never
• 2:52
  know. Look, I think we're in for some
• 2:54
  major, major fireworks and it could all start tonight.
• 2:58
  Welcome to the craziness, basement dwellers, right, the
• 3:03
  election. There's enough craziness going
• 3:05
  on in the world right now. We know war in Europe, war in
• 3:09
  Israel, all you know, Taiwan, China, North Korea, South Korea,
• 3:13
  Bolivia coup, all this craziness going on.
• 3:16
  But is tonight, will tonight when Joe Biden and Donald Trump
• 3:22
  face off on CNN for a debate, will that kick off what could
• 3:27
  likely prove to be right, a crazy election cycle?
• 3:32
  Think of all these factors coming together and they're all
• 3:36
  supportive for silver and gold, all the aforementioned factors
• 3:40
  of things going on in the world right now.
• 3:43
  But tonight, they're going to kick off the crazy party with
• 3:46
  the presidential election. Look, this is not a political
• 3:50
  channel. I'm not going to say anything.
• 3:52
  But I will say this. I think we're ready for some
• 3:54
  fireworks in this country, right?
• 3:56
  Things have gotten pretty crappy.
• 3:58
  Do you feel it? I feel it, right?
• 4:00
  Everybody feels it. Excuse me.
• 4:04
  And you know what, think about this.
• 4:06
  In America, we're all programmed when people say, hey, basement
• 4:10
  dweller, my fellow and thank you for being here.
• 4:12
  By the way, I don't, I don't beg for this very often, but if you
• 4:16
  haven't subscribed, please do that and give this video a
• 4:19
  thumbs up. That would be much appreciated.
• 4:22
  Then I want to talk to you, right?
• 4:23
  We got a lot to cover about what's going to go on in the
• 4:26
  silver. Remember, there's our sponsors
• 4:28
  at the bottom. I'm predicting tomorrow a $1.00
• 4:33
  move in the silver price. It could be down, but I think
• 4:36
  it's going to be up. I'm saying, you know, look, this
• 4:39
  is like a 3035% chance that this will happen.
• 4:43
  But don't be surprised tomorrow if we have major, major moves in
• 4:47
  the metals markets. Back to the presidential
• 4:50
  election. What is that called debate
• 4:53
  they're doing tonight? We need some fireworks in this
• 4:56
  country, right? We need people to get riled up.
• 4:59
  I'm sorry things are not good. And at this point, we need the
• 5:04
  American people to get off their arses collectively and start to
• 5:09
  care about what's going on. Maybe tonight, somehow this
• 5:13
  debate will spark that amongst us.
• 5:15
  But it's going to be crazy no matter what.
• 5:18
  And as we move into November, Oh my gosh, guys, just buckle up,
• 5:22
  Buttercup is all I have to say. Will be interesting to see how
• 5:27
  this debate goes tonight. Let's talk about tomorrow's big
• 5:30
  data, right? And this will move the silver
• 5:33
  and gold market, the PCE, personal consumption
• 5:37
  expenditures index put out by the Bureau of Economic, the Bea.
• 5:43
  Anyway, what is the PCE? OK, let's go out here and take a
• 5:48
  look quickly. And I discovered something.
• 5:51
  I uncovered something very interesting, a little secret
• 5:56
  factoid that's going to help us tomorrow, right?
• 5:59
  It added a little fuel to the flame as to why I think we could
• 6:02
  see this massive move. Forbes tells us the PCE indexes
• 6:06
  the prices for goods and services, the change constantly
• 6:09
  rising and falling, blah, blah, blah, consumers.
• 6:11
  And like, OK, The PCE index looks at US inflation by
• 6:16
  measuring in red changes in the cost of living for households.
• 6:21
  OK. It tracks the prices of a basket
• 6:24
  of goods and services, each with different weightings.
• 6:27
  What's interesting, we go to the last paragraph.
• 6:30
  It says the weightings are important.
• 6:32
  Say the price of gasoline rises in a given month.
• 6:35
  We know how that feels now, don't we, my friends?
• 6:38
  But the price of tomatoes falls. Gasoline represents a larger
• 6:42
  portion of of a family's monthly budget, so it's weighted more
• 6:46
  heavily in calculating the PCE. That means rising gas prices
• 6:51
  have a bigger impact on the overall index than cheaper
• 6:54
  tomatoes. That's that's not the secret
• 6:57
  factor I have for you about the PCE.
• 7:00
  Cause guys with inflation, I didn't even explain.
• 7:03
  I apologize. Look, I'm doing the best I can,
• 7:05
  right? I'm feeling my way through this.
• 7:07
  We're doing it all together. I'm shining my flashlight out
• 7:10
  the best I can for you and I know you are as well.
• 7:15
  But the PCE is more household oriented, OK, as as opposed to
• 7:23
  the CPI. But why is it a big deal because
• 7:26
  of this? If tomorrow, OK, conveniently
• 7:30
  located tomorrow, the day after the big debate, if tomorrow
• 7:33
  morning the PCE number, the inflation number for households,
• 7:37
  comes out and it's down. Buckle up, buttercup, because
• 7:42
  this stuff, right? This stuff, besides being
• 7:47
  beautiful and fun to hold, will skyrocket.
• 7:51
  That's my prediction, OK? Because that means that the Fed
• 7:54
  has inflation under control. The PCE is the Fed's preferred,
• 8:01
  their preferred measure of inflation.
• 8:04
  So there's going to be, it's a big deal.
• 8:06
  Get ready for fireworks. We got big fireworks coming
• 8:08
  tonight. Debate big fireworks tomorrow
• 8:11
  morning with the PCE report. And it could be a major move for
• 8:16
  gold and silver. And silver is primed.
• 8:20
  We've talked about this a lot, guys.
• 8:22
  Think about it, over the last two or three weeks, we've had
• 8:24
  many days when the price of silver moves by a dollar, close
• 8:29
  to a dollar, or even more than a dollar, and tomorrow could be
• 8:33
  the big day. By the way, did you hear JP
• 8:36
  Morgan? Here's a little nugget for you,
• 8:38
  huh? Yes, we love JP Morgan.
• 8:41
  Not that they've ever manipulated the price of the
• 8:44
  precious metals or anything like that now, right?
• 8:47
  But they came out with an update to their metals forecast and
• 8:51
  they're calling for $34 silver next year. 34 yeah, 34 and gold,
• 8:58
  I think 2627 hundred. They're bullish.
• 9:01
  That's the bottom line, you know, JP Morgan bullish.
• 9:05
  So we're set up right now with silver.
• 9:07
  There's more factors we're going to talk about with silver as
• 9:10
  well. And wait till you think about
• 9:12
  silver in Japan, the price of silver in Japan and what that
• 9:16
  means for the United States. So real quickly, just to prove
• 9:21
  to you that this I got to prove this to you, right?
• 9:24
  And you, you don't have to agree, right?
• 9:26
  Here we go. Oh, here.
• 9:28
  Oh, the nugget. I almost forgot the big nugget.
• 9:30
  This right? Federal Reserve Bank of Saint
• 9:34
  Louis. This is from 11 years ago.
• 9:37
  They hid this in an article 11 years ago by James Boulard, who
• 9:41
  they have put out the pasture. But none the less, he's talking
• 9:45
  about the comparison between CPI, excuse me, and PCE, and we
• 9:52
  won't even I will read that. OK.
• 9:53
  Two different price indexes are popular for measuring inflation.
• 9:57
  CPI from the Bureau of Labor Statistics, the Bureau of Lies
• 10:01
  and Statistics and the Personal consumption expenditures index.
• 10:06
  PCE from the Bureau of Economic Analysis Analysis.
• 10:12
  Sorry, I have a hard time with that word.
• 10:16
  OK, thank you, Jake. Jake just sent me a text.
• 10:18
  Thank you, Jake. OK, this is the nugget.
• 10:22
  This is the nugget, and this is the number we're getting
• 10:24
  tomorrow. The PCE between the two headline
• 10:28
  indexes, the CPI tends to show more inflation than the PCE, so
• 10:36
  we're going to get this number tomorrow.
• 10:37
  The Feds telling us themselves that usually the PCE is lower.
• 10:41
  OK, And when we get a low inflation number, this is all my
• 10:45
  prediction. I could be dead wrong.
• 10:46
  You can throw tomatoes at me tomorrow.
• 10:49
  Look, I'm willing to stick my head out there.
• 10:51
  I make mistakes all the time, right?
• 10:53
  Your guys are more than happy to point, more than happy.
• 10:56
  I'm happy for you to point them out.
• 10:57
  Or you can check with Susie. She'll let you know I'm wrong
• 11:01
  often. But I'm telling you, tomorrow
• 11:02
  morning, low PCE bond rates are going to go down, dollars going
• 11:08
  to go down, silver and gold are going to go through the roof.
• 11:11
  I think we could see a $1.00 move in the silver price
• 11:14
  tomorrow. I'm putting a little over a 30%
• 11:16
  chance of that being the case. Hey, let's go out to the
• 11:19
  comments real quick and Jake, Hey, metal sear, thank you.
• 11:24
  Thank you for your super check. Good to see you.
• 11:26
  Drug testing should be that's not a political statement.
• 11:31
  Yes, I agree they should drug test both anyone involved in the
• 11:35
  in the in the debate. I won't argue with that right.
• 11:38
  If we're listening to someone who's on drugs, I think and
• 11:41
  they're asking us to vote for them to be president, I think
• 11:44
  that we should be entitled to know that that's the case.
• 11:47
  I'm not saying one way or the other.
• 11:49
  I wouldn't rule anything out with anybody.
• 11:52
  Make it across the board. If you're going to be in a
• 11:54
  presidential debate, you need to be drug tested, right?
• 11:58
  Because I think there's proof that like some previous, like in
• 12:01
  the 60s, maybe don't quote me on this, but maybe it was Kennedy
• 12:06
  that they was on, you know, some form of speed when he was doing
• 12:09
  Anyway, I don't, I don't even want to go there.
• 12:12
  I want, I want Bill Holter to have my babies.
• 12:18
  Yes. She's referring to Mr. Bill
• 12:20
  Holter, who was recently a guest here in Ron's basement.
• 12:23
  I'm sure he'll get a kick out of that one.
• 12:25
  So thank you, guys. OK, just to prove.
• 12:28
  Let's get to the proof here. Let's get to the proof that's in
• 12:32
  the pudding about what's going to happen tomorrow.
• 12:35
  Oh, look at all these colors. And this from Kitco.
• 12:39
  Hawkish Fed and a strong U.S. Dollar is right now camping
• 12:44
  gold's potential gains, but OK, but PCE will provide direction
• 12:51
  that's from FX empires, Ali OK, we're just going to read a few
• 12:55
  of this hawkish comments. So the Fed's been hawkish
• 12:58
  lately, guys, remember OK, back in December, everything changed
• 13:03
  for silver and gold, right? You did you understand what I'm
• 13:07
  saying that we talked about that exhaustively, but but the, the,
• 13:11
  the parameters under which the silver price and gold price were
• 13:15
  established, a lot of long standing relationships broke
• 13:20
  down, right? The dollar's been strong, rates
• 13:22
  have been up, OK. And and the Fed even more
• 13:25
  recently started to lose a little bit of its sway because
• 13:28
  gold and silver are very intelligent.
• 13:31
  They can see through the BS basically, right.
• 13:34
  But just for whatever reason, I don't like it.
• 13:37
  You don't like it, it's a temporary thing.
• 13:40
  It's temporary noise. Right now, the Fed this E com
• 13:44
  data is getting some of its mojo back, but that again, that will
• 13:48
  be temporary, OK. He says, quote, gold prices
• 13:52
  continue their downward trend for the 2nd consecutive day.
• 13:57
  That was on Wednesday hitting their lowest point in over a
• 13:59
  week in red. Hawkish comments from the
• 14:02
  Federal Reserve officials have served to boost Treasury yields
• 14:07
  in the dollar. And that makes the price of gold
• 14:09
  and silver go down. Fed Governor Michelle Bowman
• 14:13
  expressed a readiness to raise borrowing cost if inflation
• 14:17
  progression stalls. Inflation is not going away,
• 14:22
  guys. They're going to massage these
• 14:24
  numbers. The reality is the value of the
• 14:26
  dollars going down and that's happening.
• 14:28
  There's no mathematical others unless the government stops
• 14:32
  spending money, there's it's mathematically impossible that
• 14:37
  inflation comes down. OK, They'll they'll make up all
• 14:41
  kinds of crazy smoke and mirror BS, whatever, you know, try to
• 14:45
  try to keep the masses happy. But the reality is the value of
• 14:48
  the dollar, it's all you got to remember.
• 14:50
  Simple. The value of the dollar goes
• 14:52
  down. OK, the price measured in
• 14:55
  dollars of everything else, including silver and gold, goes
• 14:59
  up and I'm going to show you some shocking evidence of that
• 15:01
  later with how it happened in Japan.
• 15:04
  Fed Governor Green Lisa Cook suggested that rate cuts might
• 15:09
  be appropriate eventually, but emphasize the need for caution
• 15:12
  if inflation expectations rise again.
• 15:15
  All this will be rug pulled tomorrow 'cause they're going to
• 15:18
  come out with low inflation numbers unless I'm wrong, which
• 15:21
  I may be, OK, and then I'll feel bad that I said that.
• 15:24
  But hey, you know, I'm willing to go out and take a take a risk
• 15:28
  purple. The persistent strength in the
• 15:30
  US economy. Oh yeah, we got some data we're
• 15:32
  going to look at later. There's a swimming pool, a cop
• 15:35
  Apoppa blips a Poolopoulos swimming pools.
• 15:39
  It's crazy What what's going on? OK, but strength in the US
• 15:44
  economy supports this outlook again, pushing up yields.
• 15:47
  Orange weaker, weaker consumer and producer prices for May are
• 15:53
  keeping a September rate cut on the table.
• 15:55
  Now they're saying this is all, it's all like wishy washy.
• 15:58
  If you noticed that with the Fed lately.
• 16:01
  Oh, we're going to cut rates. Oh, no, we're not going to cut
• 16:04
  rates. Oh, we're going to cut rates.
• 16:05
  Oh, we're not going to. It's like that girl I wanted to
• 16:07
  bring to senior prom. Yeah, I'll go with you.
• 16:09
  No, I won't. Yeah, I'll go with you.
• 16:11
  No, I won't. Finally, I just said forget it.
• 16:13
  You know, we just won't go. Additionally, geopolitical
• 16:18
  tensions. Why?
• 16:18
  We could talk about that in the Middle East and ongoing Russia,
• 16:21
  Ukraine, OK? That's what he wrote.
• 16:24
  Yellow markets are now turning their attention, OK, to the
• 16:28
  final Q1 GDP on Thursday. I don't know if that came out
• 16:32
  yet or not. Who really cares?
• 16:33
  It's all a bunch of BS anyway. And here you go, guys, the big
• 16:39
  trump card, pardon the pun, with the big debate tonight, the
• 16:43
  personal consumption expenditures PCE index on Friday
• 16:48
  to provide clear signals on the Fed's future policy decisions
• 16:52
  and their impact on the US dollar and gold prices.
• 16:56
  I'll say it one more time. The, the So he's saying that's
• 17:00
  going to be the big news, right? And I'm telling you the number,
• 17:03
  the PCE is going to be lower, OK?
• 17:06
  And if I'm wrong, I'm going to be down here in a fit of shame
• 17:09
  tomorrow apologizing to you, OK? In the near term, Ali said the
• 17:15
  Federal Reserve's hawkish stance will likely pressure the Spot
• 17:18
  gold price. Immediate resistant levels at
• 17:20
  2329 and 2337 could limit upward movement, while breaking below
• 17:26
  2310, which we did yesterday, might trigger significant
• 17:31
  selling. Let's run out the pin backs and
• 17:34
  take a look at an update that is not the update.
• 17:36
  Take your blood pressure medicine with me.
• 17:38
  Let's see where the gold price is.
• 17:41
  Oh my gosh. OK, guys.
• 17:43
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• 17:56
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• 18:05
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• 18:09
  hey, this is not made possible without the help and support
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  from my sponsors. OK, so please, I'll never tell
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  somewhere else. I get it for a lower price.
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  Fun to say, fun to smell, fun that we got 400 basement
• 19:19
  dwellers together. Look, we don't know what we're
• 19:22
  talking about, but neither does anybody else.
• 19:25
  OK, thank you, Vince, for that super chat.
• 19:29
  Wow. Hey, I moved the mic a little
• 19:31
  closer. Maybe I need to stop yelling so
• 19:33
  much. Is the yelling bothering you
• 19:35
  guys? Send me an e-mail.
• 19:36
  OK. But it's a big deal when you're
• 19:40
  here. I want you to be comfortable
• 19:41
  when you're in the basement. I want you to feel like you
• 19:43
  found a new community. You belong here.
• 19:46
  I got news for you. Welcome.
• 19:49
  You do belong here. There's some awesome, awesome,
• 19:52
  nice people in the basement. We want you to come back.
• 19:55
  Please subscribe to the channel. That's twice I've asked you that
• 19:58
  today. I will not ask you.
• 20:00
  Yes, you that question again. Your time is valuable.
• 20:04
  Oh, you want to talk about $100 moves in gold, huh?
• 20:08
  Huh. You want to talk about $2700
• 20:12
  gold and Q1 of 2025? Let's go.
• 20:17
  Let's go back to Kitco. Kitco and let's see what is it?
• 20:23
  TD Securities, I believe. Look at all those colors.
• 20:27
  We're going to get through this one.
• 20:28
  Hey, Neils, this is from our friend Neils.
• 20:30
  We love Neils at Kitco. He says gold will be sensitive.
• 20:35
  Here it is again. I'm not going to repeat it to
• 20:37
  tomorrow's biggest news in the history of the gold and silver
• 20:41
  market, the PCE inflation number.
• 20:43
  But that won't stop its long uptrend.
• 20:46
  That's according to TD Securities.
• 20:48
  We like the sound of this already in red.
• 20:50
  The gold market is caught in a holding pattern as it awaits the
• 20:54
  latest inflation data. We beat this to death Friday's
• 20:57
  PCE index in a report published last week.
• 21:00
  Commodities commodity analyst at TD Securities.
• 21:05
  Several. These were not.
• 21:06
  This was not just one analyst. These were several analysts said
• 21:10
  that they wrote. I should say that the gold
• 21:13
  market is vulnerable to the timing of the Federal Reserve's
• 21:16
  interest rate cuts. Yeah, no joke.
• 21:18
  The analysts see near term risk to the downside if inflation
• 21:23
  comes in hotter than expected, which it will not.
• 21:26
  In red. The yellow metal, that's gold,
• 21:30
  right? What do they call silver, the
• 21:31
  white metal? Anyway, the yellow metal could
• 21:33
  plunge an additional $100 if the progress made on inflation
• 21:39
  stalls. So we get a high inflation
• 21:42
  number tomorrow and now that'll this is the bad news.
• 21:45
  If Ronnie's wrong, which Ronnie could be wrong, all right, and
• 21:49
  you hate me, all right, I'm I'm often wrong.
• 21:52
  I struggle with this stuff too. But if I'm wrong and tomorrow
• 21:54
  the PCE number comes in way higher than expected, batten
• 21:59
  down the hatches. Buckle up, buttercup, in a bad
• 22:02
  way 'cause it's not going to be good.
• 22:04
  OK? So if progress on inflation
• 22:07
  stalls or if U.S. economic data continues to surprise to the
• 22:11
  surprise to the upside, the Fed could be more hawkish again.
• 22:15
  That would create a bad environment for silver and gold
• 22:17
  in yellow or yeller is a lot of people here in Missouri call it.
• 22:21
  You call it yeller or do you call it yellow?
• 22:24
  None the less, or I should I say.
• 22:26
  However, any weakness in the gold market is expect I'll be
• 22:29
  like this. Any weakness in the gold market
• 22:33
  is expected to be short lived as the Canadian bank sees gold
• 22:39
  prices ultimately going higher by year end in orange.
• 22:43
  More certainty surrounding the timing and magnitude of the
• 22:46
  pending fed fund cuts. Fed funds cuts, yes, which
• 22:50
  should bring in specs. Those are like speculators,
• 22:54
  gamblers and ETF logs should start to place the yellow yellow
• 22:59
  metal on an upward trajectory again.
• 23:01
  This combined with renewed appetite for physical metal
• 23:04
  around the world. Oh yeah, baby.
• 23:07
  Yeah, you got that right. Everywhere except the United
• 23:11
  States and Canada, there's renewed interest in gold and
• 23:15
  silver, which includes long term strategic central bank bind is
• 23:18
  projected to drive the Q 10 the. But here's the fun part Q1 2025
• 23:26
  average price to $2475.00 an ounce with a trading high around
• 23:33
  $2700 an ounce a possibility, he said.
• 23:37
  So there we got it guys. The guys, the guys at the
• 23:39
  Canadian banks are the smartest analyst around.
• 23:42
  Trust me. They follow gold and silver like
• 23:46
  way, way, way, way, way more closely and accurately than the
• 23:51
  analyst in the United States at JP Morgan.
• 23:54
  But even JP Morgan, like we just talked about, came out with a
• 23:57
  bullish update on the price of gold and silver.
• 24:02
  So we got the potential for big, big moves to happen.
• 24:06
  Think about this, OK, 'cause everybody's talking, I'm guilty,
• 24:10
  OK, I'm, I'm guilty as well, right?
• 24:13
  We are in a seasonably low period for silver and gold.
• 24:17
  You know what that means to you and me?
• 24:20
  That means silver and gold are are kind of swimming against the
• 24:23
  current during the summer. Traditionally, OK, they are
• 24:27
  running into the wind or doing something else into the wind
• 24:31
  that I won't say. But nonetheless, that's the
• 24:33
  situation. That's what everybody says.
• 24:35
  But is it different this time? Because can't we argue, right?
• 24:40
  Tonight's the big night, the big massive debate, the kick off.
• 24:44
  It's like the start of the fireworks show, OK, And this is
• 24:49
  a different year than a normal year and this is a different
• 24:53
  election than a normal election and the world is in a different
• 24:56
  situation. I would argue, OK, I would argue
• 25:02
  that we are in a different scenario for this summer than in
• 25:06
  the past. I still say I'm happy if we
• 25:09
  escape the next 5 to 8 weeks with a $2200 gold price,
• 25:13
  $2728.00 silver price. But but I think if I'm wrong,
• 25:19
  I'll be wrong to the upside because I want you to think
• 25:22
  about this concept that not a lot of people think about.
• 25:26
  Think about this. Things are happening so much
• 25:28
  quicker right now. So, so much quicker.
• 25:31
  All right, let's go. You know what?
• 25:36
  Let's go take a look. Let's have some fun.
• 25:38
  Are you ready for some shocking evidence of what can happen to
• 25:42
  the silver price? Have you ever looked at the
• 25:44
  silver price as measured in Japanese yen?
• 25:48
  All right, let me pull this chart up for you and I want you
• 25:56
  to think about right 30 year silver price history in Japanese
• 26:00
  yen per oz. Look at this guys.
• 26:03
  This goes back to 1995. OK, look, the, the the ¥500 per
• 26:10
  ounce of silver, where are we today, 5000?
• 26:14
  I don't know. Let's see if this gives us a
• 26:16
  recent now that gives silver and gold price in U.S. dollars none
• 26:20
  the less. Look at the 2011 high in
• 26:24
  Japanese yen, 4000, this is the equivalent.
• 26:27
  That's what 25% higher? That would be like a $63 U.S.
• 26:34
  dollar per oz silver price, right?
• 26:36
  Now, what caused this to happen? Maybe you're hearing right.
• 26:41
  And I'll tell you and I'm going to explain to you why it
• 26:43
  directly relates to what's going on in the United States.
• 26:46
  I mean, look at this silver price in Japanese.
• 26:49
  Well, there it is right there. 5073 is it was the high, OK,
• 26:55
  from 500 all the way up there from 4000, right, which was the
• 27:00
  2011 high all the way up to 5000.
• 27:04
  Look at this chart, OK, this is a 5 year, yeah, five year chart
• 27:09
  of the Japanese yen in dollars. This basically tells you how
• 27:13
  many Japanese yen it takes to buy $1.00.
• 27:16
  And as you can see back here at the beginning of 2021, So what,
• 27:21
  3 1/2 years ago, that was around 100.
• 27:25
  Let's say today it's at 160, right?
• 27:30
  That means that now instead of if, if a Japanese person wants
• 27:33
  to convert their currency to dollars, instead of it only
• 27:36
  taking ¥100, now it takes ¥160.00.
• 27:40
  So you may have been hearing and it gets, it's confusing, I think
• 27:44
  for a lot of people that there's big issues in Japan.
• 27:47
  What Japan did, OK, And I'll ask you the question and then we'll
• 27:51
  go back to that chart. What Japan did over the last
• 27:55
  what, 10/15/20 years is rack up a ton of debt, OK.
• 27:59
  And then they got to a point does this, I want you to think
• 28:02
  about this. Does this, does this sound
• 28:04
  familiar to you at all? The Japanese government spent
• 28:07
  way too much money, right? Ran big deficits, then had to
• 28:14
  engage in what was called yield curve control.
• 28:17
  You probably heard that term. What that basically means is the
• 28:20
  their debt. Nobody wanted to buy their debt
• 28:23
  because everybody knew they were in such bad financial shape that
• 28:26
  their central bank just started printing money out of thin air.
• 28:30
  Hold on a second. Hold on.
• 28:37
  We need to ask this character. Does that sound familiar?
• 28:43
  Does that sound familiar if they just started printing yen out of
• 28:47
  thin air to buy their own debt, right?
• 28:52
  Does that sound familiar? Is that happening in the United
• 28:54
  States? And as a result, right, the
• 28:57
  value of their currency has gone in the toilet, right?
• 29:01
  And as a result of that, the value the the price for silver
• 29:07
  and yen in their local currencies, huh, Let's go back
• 29:13
  has done this skyrocketed. OK, Now also consider also
• 29:19
  consider that when we look at the DXY index, right, the dollar
• 29:23
  index, which we look at all the time, and the dollar being so
• 29:27
  strong, consider the fact that the yen is a major component of
• 29:31
  that. So the dollar being strong, does
• 29:34
  it make sense when people say the dollar index is just like,
• 29:38
  it's like comparing 3 turds in a toilet.
• 29:40
  There's no other way to say it. OK, that's the analogy I'm gonna
• 29:44
  use. I hope that doesn't offend you,
• 29:45
  but it really is true. So the United States dollar is
• 29:49
  in a little bit better shape than the yen, but we're heading
• 29:52
  down the exact same path. So can you envision this chart?
• 29:57
  We'll look at it one more time. But instead of this being in
• 30:01
  Japanese yen, right, where we have a spike in silver, that
• 30:06
  that chart could be in U.S. dollars, All right, Because
• 30:10
  everything's so great here in the United States, right?
• 30:13
  It's silver has been defined the odds and silver will continue to
• 30:19
  define the odds of A prettiest turn in the toilet.
• 30:23
  Strong dollar, no doubt about it.
• 30:26
  Define the odds of high interest rates.
• 30:28
  No doubt about it. And guys, I don't know.
• 30:32
  How do you feel about this? Am I alone?
• 30:35
  Sometimes I feel like I'm alone. Do you ever feel that way?
• 30:39
  I'm always down here in the basement.
• 30:41
  We're not alone right now. I got to remember that you're
• 30:43
  here with me. Thank you for being here, right?
• 30:46
  It really is a big honor. I really do.
• 30:48
  I really do hope that when you come down here that you guys
• 30:52
  feel like you're in a little home away from home where we can
• 30:54
  talk about what we love silver and gold, right?
• 30:58
  But the silver price has defied the odds will continue to defy
• 31:03
  the odds. I know it's frustrating.
• 31:04
  I know it can be, you know, and they want to and now they want
• 31:07
  to tell us if you heard all she all they want to tell us.
• 31:10
  This makes me mad. This this woman makes me mad.
• 31:15
  OK? There's a woman who makes me mad
• 31:17
  and a woman who I have a new level of respect for.
• 31:20
  I'm going to show you quickly. The woman who makes me mad.
• 31:25
  This woman, I got her in a box, OK, Because she's going to tell
• 31:33
  you and me and the other night, I feel for people.
• 31:36
  I just don't feel for one in 100.
• 31:38
  I feel for everybody She's going to tell, right?
• 31:41
  The the 99 out of 100 Americans and everything's great out
• 31:45
  there. Well, no, everything's not
• 31:46
  great. And you know, this is this is
• 31:48
  crazy, OK. But the woman you've you've
• 31:51
  heard of the consumer sentiment survey that's from the
• 31:54
  University of Michigan. What is this telling us?
• 31:57
  Right? And then what does this mean for
• 31:59
  silver and gold? I'll tie it all together.
• 32:01
  Joanne. Who?
• 32:03
  Who's who? OK, she's kind of the head of
• 32:06
  the University of Michigan consumer sentiment survey thing
• 32:09
  that goes out. She I listened to her recently
• 32:11
  say that Americans are losing hope a big, you know, certain
• 32:16
  portion of Americans are losing hope that the American dream is
• 32:21
  gone away. It slipped away, that there's no
• 32:24
  way they'll ever be able to buy a house.
• 32:26
  And I don't really blame it. There's no way that they can
• 32:29
  afford a middle class lifestyle. And I'm raising two kids.
• 32:33
  I have 12212 I've I've no, I have one set of 12 year old twin
• 32:39
  daughters, right? And Susie is a, is a, is a
• 32:43
  homemaker and a wonderful wife and all, but I'm telling you, it
• 32:45
  is, it is a rough go right now in this country, middle, upper
• 32:50
  middle class, lower middle class Americans losing hope.
• 32:53
  And but I want you to think about this.
• 32:56
  She's saying that, OK, and this is America where we are
• 33:00
  programmed to say everything's great, right?
• 33:03
  That's what we're programmed to say when people say, hey, how
• 33:06
  you doing? If you run up to me on the
• 33:07
  street, you're programmed to value your silver and gold in
• 33:13
  U.S. dollars, Fiat dollars. We all make that mistake, right?
• 33:16
  We're also been programmed that if somebody walks up, if I, if I
• 33:20
  saw you, if I called you on the phone after this live stream and
• 33:23
  said hey Jake, right from Jake's custom parts.
• 33:27
  We talked from time to time say how you doing Jake or Jake said,
• 33:30
  hey Ron, how you doing? I said I'm doing great.
• 33:33
  Doesn't matter really how I'm doing.
• 33:34
  That's so if Americans secretly are saying they're losing hope,
• 33:38
  that's a big deal. And what, you know, what would
• 33:41
  what, what would, what would lead us, us to believe?
• 33:44
  That's the fact. All the data that's coming out.
• 33:48
  But what about the pool? What about the swimming
• 33:50
  poolopolis that I promised you? We'll touch on that one briefly.
• 33:53
  And it's not funny, but it proves that we are having
• 33:57
  economic problems. This came from zero hedge.
• 34:00
  OK Pool shares Plunge, the world's largest wholesale
• 34:05
  distributor of swimming pools and related outdoor living
• 34:08
  products with hundreds of stores across North America, Europe and
• 34:11
  Australia, slashed their full year earnings forecast.
• 34:15
  They said quote recent trends that dampen the the
• 34:19
  discretionary spending, signaling a broader consumer
• 34:23
  downturn theme. The company which sells pool
• 34:26
  chemicals, blah blah blah, Pool, swimming pool stuff, revised
• 34:30
  their earnings guidance down to $11.00 a share from as high as
• 34:34
  $14.00 a share. Guys, that is significant, but
• 34:37
  listen to this, OK? They said that year to date
• 34:40
  sales, while better than the first quarter are down 7%.
• 34:45
  I always round up or down, OK, And that it now expected full
• 34:49
  year sales and a similar range. So even swimming pools, I'm
• 34:54
  going to warn you, if you go to your neighbor's house to go
• 34:56
  swimming and they got a pool, be careful.
• 34:58
  They might be skimping on the chemicals, OK?
• 35:01
  But this is a sign of what's going on in America.
• 35:05
  Now, how does this feed into this big PCE data tomorrow,
• 35:08
  which I'm telling you is going to be lower than expected, and
• 35:11
  it's going to send the value of silver and gold higher when
• 35:15
  there's less demand in the economy because people have less
• 35:19
  money, right? It brings prices down, right?
• 35:23
  Maybe we could even see a deflationary environment.
• 35:26
  I'm not saying that's going to happen tomorrow, right.
• 35:30
  And then the Fed really freaks out.
• 35:32
  Then the Fed really puts their foot on the gas pedal.
• 35:36
  That's what that's what we're looking at right now.
• 35:38
  That's what the the situation is at here in the United States.
• 35:44
  OK. Oh, OK.
• 35:46
  Here. You want more?
• 35:47
  Look, you want more proof about how great things are, here we
• 35:53
  go. I got this one highlighted for
• 35:55
  you to the Silver Academy, my friend John Little who was on
• 35:58
  yesterday. Thank you, John.
• 36:00
  Everyday events, shock and awe in the US commercial real
• 36:05
  estate. This has to do with with banking
• 36:07
  problems, collapse, warning, bank runs.
• 36:11
  Get your money out of banks now. But listen to these situations.
• 36:14
  This is real guys. One of the most insane deals
• 36:17
  we've ever seen in office tower in San Francisco.
• 36:21
  And I, I haven't been to San Francisco for like 15 years.
• 36:25
  I remember being such a nice city and I hear now that it's
• 36:28
  kind of turned into a, a, a, a, a dirt hole.
• 36:32
  But anyway, mid market or office tower sold for 90% less than
• 36:38
  what it last traded for. Previous owner paid $62 million
• 36:43
  in 2018, OK, $62 million in 2018.
• 36:51
  That was six years ago. It was recently acquired by by a
• 36:56
  Starwood affiliate for 6.5 million.
• 37:00
  That's like a little over 10%. That would mean like if you went
• 37:04
  to your wife and said I'm going to buy this office building,
• 37:06
  honey, we're going to be rich, $60 million.
• 37:09
  That was six years ago. And then today you got to go
• 37:13
  tell her, hey, I had to sell our office building that I bought
• 37:16
  six years ago for 60 million and I only got 6,000,000.
• 37:20
  Yeah, that would be almost a 90% loss.
• 37:23
  OK. They say vacancy rate in San
• 37:26
  Francisco, vacancy 37%. That means almost 4 out of 10
• 37:32
  office space square feet are empty in San Francisco.
• 37:38
  Absolutely crazy. OK, Texas.
• 37:42
  OK here, Texas, A300 empty office buildings.
• 37:49
  Houston and Houston empty space, 26% vacancy rate.
• 37:54
  Trailing behind the two are Dallas and Austin with about
• 37:57
  25%. I mean, my gosh, here's another
• 38:01
  building. A New York City office building
• 38:03
  at 321 W 44th Street is being sold for less than $50 million.
• 38:08
  Sixty 7% discount from where it sell sold.
• 38:12
  In 2018, Empire Capital Holdings agreed to purchase the property
• 38:18
  at 321 W 44th for less than $50 million.
• 38:22
  This represents a steep discount of approximately 106.
• 38:27
  I'm sorry, 67% from the 153,000,000.
• 38:31
  So somebody OK, paid 153,000,000 for this building not too long
• 38:37
  ago and now they have to sell it for 50 million.
• 38:42
  This is big, big trouble coming down the down the Pike for the
• 38:47
  commercial real estate sector. Now let's talk about let's talk
• 38:51
  about the bricks and the gold standard.
• 38:53
  You want to hear about the gold standard?
• 38:54
  I don't, I don't hear as many people talking about this, this
• 38:58
  prospect that we could have some form of a gold standard coming
• 39:03
  to the BRICS nations. But what I do hear is this see
• 39:07
  if I can find this article saying that the bricks are
• 39:10
  really just a bunch of BS, right?
• 39:12
  So we're gonna look, but we're gonna, I'm I'm gonna, I'm gonna
• 39:15
  present a different theory and how we could and some people are
• 39:19
  saying really soon, right have a gold backed currency in the
• 39:23
  BRICS nations. But since we always look at both
• 39:26
  sides of the of the equation. This is from Reuters mainstream
• 39:30
  media. OK, the US dollar's dominance is
• 39:35
  secure. The BRICS see no progress in D
• 39:40
  dollarization. That's according to a report.
• 39:42
  OK, so this whole D dollarization thing that Goldman
• 39:46
  Sachs and JP Morgan and and everybody's talking about,
• 39:51
  including all the BRICS countries, it's all this a bunch
• 39:54
  of BS. OK, in red, the US dollar
• 39:56
  remains the world's primary reserve currency, and neither
• 40:00
  the euro nor the so-called BRICS countries.
• 40:04
  Have been able to reduce global reliance on the dollar, a new
• 40:07
  study by the Atlantic Council's Geo Economic Center shows In
• 40:11
  Green, the group's Dollar Dominance Monitor said the
• 40:15
  dollar continued to dominate foreign reserve holdings, trade,
• 40:18
  invoicing and currency transactions globally, and its
• 40:23
  role as the primary global reserve currency was secure in
• 40:28
  the near and medium term. OK, OK, I'll, I'll buy that.
• 40:33
  I'll buy that. Because we've often said, right,
• 40:35
  most likely the dollar is not going to go bye bye like
• 40:38
  overnight. It could, we could have a
• 40:41
  massive event, right? There's there's, there's the
• 40:43
  conspiracy theorists that think there's some plan to one day
• 40:47
  pull the plug. But realistically, at least what
• 40:49
  I believe, you may believe something different.
• 40:52
  The dollar is not going to like just immediately go away.
• 40:55
  But the trend is in that direction.
• 40:57
  But I would ask this question, think about this and then we're
• 41:00
  going to talk about gold and silver and the bricks and why I
• 41:03
  think we could be back even in the United States potentially
• 41:07
  sometime, let's say in the next 5 to 10 years with a gold backed
• 41:11
  currency. OK, But think about this.
• 41:13
  These people are saying they called it the so-called BRICS
• 41:16
  countries. Well, I have a question for you.
• 41:18
  Think about the bricks. Think 10 years ago the bricks
• 41:21
  were like in, and I don't know specifically the day, but it was
• 41:26
  they were in their infancy. Nobody paid attention to the
• 41:29
  bricks, right? Nobody even really cared.
• 41:31
  Oh yeah, there's this thing I think a guy Goldman Sachs coined
• 41:34
  actually coined the phrase. Now it's like a growing
• 41:38
  worldwide. What my my point is as we think
• 41:41
  in 3D chess, think about how far the BRICS countries as an
• 41:47
  organization have come in the last 10 years.
• 41:51
  Think about how far the BRICS organization has come in the
• 41:54
  last five years. Think about how far they've come
• 41:57
  just in the last two years. So to think that that trend is
• 42:01
  going to just immediately stop and the dollar will just
• 42:04
  absolutely remain the world's dominant reserve currencies BS.
• 42:08
  And guys, like we've talked about so many times, what are
• 42:11
  the BRICS countries doing? What are the world central banks
• 42:14
  doing? They're buying gold, right?
• 42:16
  We've talked about that 1000 times.
• 42:19
  OK, So what does that tell us? Well, that tells us something
• 42:23
  very, very, very important that we always have to remind
• 42:27
  ourselves of. They want to get away from the
• 42:30
  dollar, number one, OK Number two, OK, they may not like the
• 42:36
  dollar, but they don't like each other's currencies either.
• 42:40
  So where are they going to go? What will continue to gain in
• 42:45
  popularity as a medium gold and by default silver is well now to
• 42:51
  take things hypothetically even one step further, think about
• 42:56
  what happens in the United States.
• 42:59
  If the world, the majority of the world population, resource
• 43:04
  base and eventually economy, economic strength is is is
• 43:09
  working together with gold. And they're talking about that
• 43:12
  being a big subject at the end of the summer when they have
• 43:15
  this big bricks meeting, right, A trade settlement currency that
• 43:19
  could be backed by gold, right, or the development.
• 43:22
  And there's this in bridge system and there's all kinds of
• 43:25
  stuff going on. So if they're the if the
• 43:28
  majority of the world is working on gold and the value of the
• 43:31
  dollar is going down, down, down at some point, I just want to
• 43:34
  throw this out there. All right, you got to consider
• 43:36
  this at some point. Will it behoove you know the
• 43:41
  against everything that they want to see happen, but will it
• 43:44
  behoove the Federal Reserve, the Treasury Department, the United
• 43:47
  States government to revalue Because don't forget, supposedly
• 43:53
  we have more gold than anyone in the world, 8000 metric tons.
• 43:56
  And if we real really do have that gold, wouldn't it make
• 44:00
  sense then if if the dollars losing the at some point do that
• 44:05
  big revaluation? You see these calculations
• 44:08
  people throw out, right, $19,000 gold, 38 forty, $27,000 gold was
• 44:15
  Jim Rickards most recently. Doesn't that become something
• 44:19
  that's within the realm of possibilities?
• 44:21
  I don't know. You let me know.
• 44:23
  Tell me in the in the chance section, guys, I want to do
• 44:26
  something we haven't done for a long time with the community is
• 44:29
  the big deal. You're here.
• 44:31
  I want to show you how powerful the gold and silver community
• 44:35
  is. Tell me in the in the in the
• 44:39
  chance section. Tell me where you're joining
• 44:41
  from. I'm going to start out by saying
• 44:43
  I'm in Saint Louis. I just want to see, get a feel
• 44:47
  for you guys where we are in the country and the world as
• 44:51
  basement dwellers. I won't be able to shout out
• 44:54
  names, but I will be able to shout out your city or where
• 44:57
  you're from. Hey, Yas.
• 44:59
  Hello. Raven.
• 45:01
  Ron Wood, C130. Bend, OR.
• 45:04
  OK, Come on, guys. Type it in there.
• 45:07
  Oregon, Ohio, Lone Ranger, Wisconsin, Gary.
• 45:11
  I will say names if I can. Melbourne, Australia.
• 45:14
  Yes. Wow.
• 45:15
  The other side of the planet. That's awesome, Wes.
• 45:18
  Good to see you. Oh, boy, oh boy.
• 45:20
  Mount Florida, Canada, A College Station, TX.
• 45:24
  Tampa, FL, Austin, TX. Denmark.
• 45:27
  Wow. Tyler, TX, Colorado.
• 45:30
  It's going too fast. Netherlands, Dallas, Perth,
• 45:32
  Australia, Amsterdam, Virginia, Michigan.
• 45:36
  Guys, think about this. Kansas, California.
• 45:38
  Perth, Switzerland. AKA Redneck A Stand S Cumberland
• 45:46
  Plateau. OK.
• 45:47
  Florida, North of sea. South Dakota, Florida, New
• 45:50
  England. Dallas, TX.
• 45:52
  If I didn't read you, I'm sorry. I'm trying to read these.
• 45:54
  Philippines. Colorado Springs.
• 45:56
  Bend, OR The world is here. Yes guys, we are Germany.
• 46:02
  Hello Lone Wolf. Good to see you my friend.
• 46:05
  Oakland, CA, Malaysia. Wow, Colorado, you guys, we are
• 46:11
  from all over the world. Vincent.
• 46:13
  OK, Vincent. All right, if you keep, I'll try
• 46:15
  to read a few more what I'm trying to drive home.
• 46:18
  Number one, thank you for being here from all around the world,
• 46:22
  I think. I think we're the smartest.
• 46:24
  We're the elite. We are.
• 46:27
  Yes, you. You're part of the elite.
• 46:29
  I will tell you that. OK.
• 46:30
  Washington State, England. United Arab Emirates.
• 46:34
  Washington State. Wow.
• 46:36
  My house just fell in the Missouri River and I'm coming
• 46:38
  down to see you. Yeah, I live on the banks of the
• 46:41
  Missouri River. That's what he's joking around
• 46:43
  with me. Saint Louis.
• 46:44
  Hello, Dave. Good to see you, my friend.
• 46:47
  Isle of Moo, Man, it's been hot in Saint Louis.
• 46:49
  Has it been hot where you are starting to think maybe that
• 46:52
  global warming. Arizona.
• 46:54
  I've never heard of Isle of Moo yet.
• 46:56
  We are the 1%. We're actually you at your part
• 46:59
  of this is a big key thing to realize as we think about silver
• 47:04
  and go maybe I'm wrong, right, maybe I'm wrong could be dead
• 47:07
  wrong right. I'm doing my best and by the
• 47:10
  way, if there's ever anything that I can do to make these live
• 47:13
  streams better, I mean this, please send me an e-mail.
• 47:16
  There's contact e-mail address in the description of this and
• 47:21
  all the videos. Please.
• 47:23
  If you have an idea like Ron, you, you do this you, I mean, I,
• 47:26
  I, I, I, I, I would love to get your feedback, but you're an
• 47:30
  elite. You're part of the elite, right?
• 47:32
  We hear about it all the time. Oh, the 1% there.
• 47:35
  Oh the whatever. Hey, look guys, we are all over
• 47:38
  the world, OK, all over the place there's coin shop Chris by
• 47:43
  the way, coin shop Chris has his own YouTube channel.
• 47:47
  I command you all right, when we're done with this live
• 47:51
  stream, go on the YouTube search bar and type in coin shop Chris
• 47:54
  and go watch a couple of his videos and maybe give him a
• 47:57
  thumbs up and subscribe to him as well.
• 47:59
  But we are such an elite, small group of people throughout the
• 48:05
  world, even in more particularly so here in the United States.
• 48:09
  Guys, the good news is this, OK? This is something we review
• 48:14
  every 10 days, something very important for us.
• 48:17
  Do you agree with what I'm about to say?
• 48:19
  OK. I'm actually happy that we are
• 48:22
  such a small, elite group of people.
• 48:24
  One in a hundred, really. I mean, and we're the smarter of
• 48:29
  the I mean, I don't mean that in a arrogant way, but trust me, if
• 48:34
  you're down here, we, we think, we talk about subject matter and
• 48:37
  the fact that you're here listening means you like to go a
• 48:40
  level deeper. We talk about some people play
• 48:43
  checkers, some people play chess.
• 48:45
  But you, yes, I know you like to play 3D chess, right?
• 48:50
  And think about this, the fact that we are people say, oh, it's
• 48:54
  a bad thing. We're only one in only one in
• 48:56
  200 people stack silver. Only one in 200 people stack
• 49:00
  gold. No, that's a good thing, right?
• 49:03
  Because let's say we're one in 200 and let's say we go to five
• 49:09
  and 200. OK, that's a 2 1/2 times the
• 49:12
  amount of money in the world going into precious metals.
• 49:17
  And man, they talk about that idea of and I didn't make this
• 49:21
  one up. I, I don't know who did.
• 49:23
  I wish I could give him credit, but it's a the best analogy.
• 49:26
  It's like trying to drain Hoover Dam with a garden hose.
• 49:29
  Hey, thank you for being here. Thanks for being part of the
• 49:32
  basement. I really do appreciate you and
• 49:34
  your time. Please support, support our
• 49:36
  sponsors first mining gold, Fortuna mining.
• 49:40
  And if you want to get your hands on some silver, gold or
• 49:42
  platinum, check out Pinbex. Have a great day.
• 49:45
  OK. Thank you and I'll see you soon.