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**SILVER NEWS** Big FED Week to Move PRICES -- COIN SHOP CHRIS · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
A significant update on the silver market and gold market.
0:04
What happened to gold 10 times over or maybe even more?
0:09
We have a massive week coming up with the United States Federal
0:13
Reserve. They will impact the price of
0:15
silver and gold like nothing else.
0:18
We're going to cover that. We're going to talk briefly
0:20
about Home Depot, and you'll understand what that means a
0:23
little bit later on. And Will the price of silver
0:26
explode in 2024? And are you overpaying for your
0:33
silver by maybe 10%? It might depend on what state
0:37
you live in, but we're gonna talk about all of this with one
0:40
of the most interesting characters in the silver and
0:43
gold arena. An expert in my mind.
0:47
The one and only coin chop, Chris.
0:50
Ron, please don't call me an expert because I'm just a human
0:53
like everybody else. But I like to be back.
0:55
I love to be back with you in the basement.
0:57
Ron, talk to you, to talk to your viewers.
1:00
As if everybody can just please, like, share and subscribe.
1:03
Share this out everywhere. Let's get the word out, and
1:08
let's get more people in the basement.
1:10
And let's recognize that person that's with us right now, our
1:13
viewer. We do appreciate you and we love
1:16
the fact that you're a basement dweller here with Coin Shop,
1:19
Chris and I. But Chris, question for you.
1:22
It's all over Twitter. Have you seen the news about
1:25
gold? People are saying that gold
1:28
closed on a weekly basis above $2000 per oz.
1:33
And I'm reading for the last 10 weeks.
1:36
I dug in myself and it looked like like almost 12 or or 10 out
1:40
of 12 weeks on Yahoo Finance. But gold has been holding above
1:45
$2000. What do you think's going on?
1:49
I I think it's it's other countries or stockpiling goes
1:53
on, you know that has a lot to do with it.
1:56
The central bank's stockpiling still and we wonder why What is
2:01
really going on Ron, you know why is most major countries
2:06
telling their people to buy silver and gold and US and
2:10
Canada are not saying a gosh darn thing about it to their
2:15
their population. I wonder why, Ron.
2:18
I don't know. I have, I have no clue why the
2:21
world's central banks, the most sophisticated financial
2:24
institutions in the world by the world central banks, the
2:28
insiders in the financial and monetary system.
2:32
I have no idea why they would want to be buying gold.
2:35
Why over the last couple years they've bought more gold than
2:39
they bought during the last four decades combined.
2:42
I don't know, Chris. That must just be a coincidence.
2:45
I'll give you I'll give you a reason.
2:47
See our currencies going in the toilet?
2:50
That's where it's going wrong. It's paper.
2:54
If Unicorn fought us, as you like to call it, and I and I
2:56
like to call it too, you know Fiat currencies are dying breed.
3:02
Yeah, yeah. Well, gold we know is doing very
3:06
well. But silver, who is silver poised
3:11
for a price explosion? One thing we do know right now
3:15
about silver, Chris, is it takes a lot of silver to trade for one
3:20
ounce of gold. Is that is that true?
3:23
Well, right now the ratio is 88.13, Ron.
3:27
So I mean yes, silver is due for pounds.
3:31
At what point in time is it going to happen this year?
3:34
I think it will. Are we going to get back to 50
3:37
to one this year? I don't think we can get that
3:39
close. I I'm looking probably at about
3:42
60 to 61 ratio by end of the year.
3:47
We just have to wait and see and it's going to catch a lot of
3:51
people off guard Ron. And it's going to be, you know,
3:55
I I still say this is the best time to stack right now.
3:59
Especially silver at this time. This is so cheap so.
4:05
So let's play. Let's play a quick game of Make
4:07
Believe. Chris, I call you at the coin
4:10
shop and you answer and you're friendly and jovial as usual.
4:13
And I say, hey Mr. Coin Shop, Chris, I want to I want to
4:16
convert some silver into gold. Are you telling me that I would
4:20
have to take four tubes of American Silver Eagles, each of
4:25
which have 20 coins each in them and another 8 coins and then I
4:31
would have to saw off like what, 13% of 1 more coin just to come
4:37
in to to trade you that 88.13 American Silver Eagles for one
4:43
ounce of gold? Well, I wouldn't sell off
4:46
anything. I mean, you would probably want
4:48
to bring in at least 89. I'll give you the cash
4:50
difference back. But there's going to be a little
4:53
bit of a spread there. We're going to do our sale, then
4:57
we're going to do a purchase. So give me a little bit more of
5:01
a spread there anyways. It's going to be, it's going to
5:03
be like 2025 bucks extra to complete the sale anyways.
5:08
You know what, you bring up a great point.
5:10
It's probably, it really probably would take 90 ounces of
5:13
silver to get that one. And so gold, you know what's
5:15
interesting too and you touched on this historically, like in
5:20
the last number of decades the silver to gold ratio is averaged
5:24
more around 50 to one like you said.
5:27
But if you go, if you broaden your scope a little bit, it gets
5:30
even more interesting because over longer periods of time you
5:34
see the silver to gold ratio closer to like 2016.
5:40
I think geologically when they were setting up some of the BI
5:44
metallic monetary systems in the past, they would do 16 to one
5:49
and it comes out of the ground. For each one ounce of gold
5:53
that's mined every year, there's only 7 ounces of silver.
5:56
It's just ridiculous. Chris, my blood pressure is
5:58
going up. And you have to and we have to
6:01
remember server is used in every aspect of the world and using
6:06
every industry. So why how is this, you know,
6:10
really service more useful than gold?
6:12
Gold is for really big purchases, you know for banks
6:16
and stuff like that. But silver, it's in our
6:18
medicine. It's in everything we use.
6:20
Ron. It's in your cell phone.
6:22
It's in your computer. Why is it silver at a higher
6:26
price now I cannot figure out and they claim we have a server
6:30
shortage. Yeah, I.
6:34
Mean. Yeah, yeah.
6:34
Yeah. Well the you know and and and I
6:37
heard somebody say the other day which I also thought was
6:40
interesting and honestly I've not dug into the data but
6:44
basically all the silver that's being mind now like in current
6:49
years is pretty much being absorbed by industry, by the
6:53
electronics industry, by the solar industry, by the defense
6:56
industry. And we don't even know how much
6:58
silver the defense industry really uses on an annual basis
7:02
because a lot of that information is classified.
7:05
So if you think about the fact that every ounce of silver
7:08
coming out of the ground is being consumed, anything that's
7:11
demanded by investors, right is, is kind of gravy on top and at
7:16
this point being absorbed by the current above ground surplus
7:20
that we have. But that can't last forever.
7:23
And what makes it even more egregious is the fact that that
7:27
supply coming from the miners is going down, down, down, down,
7:31
down. Every year we hear about silver
7:33
mines shutting down. We don't hear about many new
7:35
silver mines coming online. So the supply is going down and
7:40
all we hear about is demand going up.
7:42
At some point, the price will reflect that reality.
7:46
Absolutely Ron. And you you know another point
7:49
is you know most silver is a by product they're searching for
7:53
other metals too. So I mean it it's not cost
7:57
effective oil shooting up again, it's not cost effective to
8:02
really build a new silver mine. And you know.
8:05
Like you said in your previous videos, Wrong.
8:07
It's going to take 10 to 15, maybe even 20 years before the
8:12
full line production gets going. And you only have millions of
8:15
dollars into this and you really don't know what you're going to
8:19
get out of the ground at that point.
8:21
You have an idea? The the the reality is it's
8:24
becoming more cost effective to close down silver mines and
8:28
we're hearing more and more about that companies making
8:32
business decisions that unfortunately because the price
8:35
of silver has been suppressed artificially low for so long
8:39
that companies are having to shut down silver mines.
8:42
Fortuna Silver our sponsor has a silver mine that they've run in
8:47
Mexico for many years and they're being forced to
8:51
basically shut it down at the end of the year because it's not
8:54
cost effective now. They've pivoted and are now
8:56
producing much more gold and the company's in incredible
9:00
financial shape. Their production numbers are
9:03
going up and up, but if you just zoom in on their their one
9:07
silver mine in Mexico, it's becoming very difficult to run a
9:12
silver mine in Mexico. And you're hearing more and more
9:15
companies making a business decision that that they don't
9:19
want to make. They don't want to impact the
9:21
communities they want. They want these silver mines to
9:24
be open. The world needs the silver, but
9:27
for the miners to be able to do it, they need the price to be
9:31
much higher. Absolutely.
9:34
And at what point, at what breaking point is that going to
9:37
happen on? That is the question.
9:39
Nobody knows. Yeah, yeah, yeah.
9:42
It's a, it's a it's an interesting scenario that's
9:45
unfolding this week. We have a big decision coming
9:49
from the Fed. What what are your thoughts on
9:51
that, Chris? The big decision is going to be
9:55
another I I don't even want to say that word.
9:59
So it's it's going to be, it's going to be another clown still,
10:03
Ron, they're not going to do a gosh darn thing.
10:06
They're going to stay right that they're not going to change
10:09
rates again and it's going to, they have two decisions, let the
10:14
banks fail, drop rates, let inflation rise.
10:19
And I think they want to go after the banks.
10:21
I think they're trying to maintain inflation right now.
10:24
And you know, and it's not working because everything's
10:27
still going up slowly. But surely we know every time
10:30
when you go to the grocery store, I go to the grocery
10:32
store, your viewers go to the grocery store.
10:33
We've seen prices rising still. Yeah, we're living in.
10:37
We're living in a fantasy world. We're living in a very synthetic
10:41
economy. the Fed is, is, is really, truly is a clown show,
10:47
right? Like they say one thing
10:48
everything is meant is kind of calculated about how it's gonna
10:53
it's I just it makes me because if you think about this Chris I
10:58
don't even wanna talk about the Fed cuz nothing the Fed it makes
11:01
me sick. But think about this.
11:03
If we were still on the gold standard and our money was
11:07
tethered to gold, tethered to silver, right, based on those
11:12
things, all this fed smoke and mirrors and and manipulation and
11:19
and really, like, like I said, synthetic.
11:21
It wouldn't even, it wouldn't exist.
11:23
We would have real money that we know is worth a certain amount
11:27
and will be worth a certain amount in the future.
11:30
Instead now we live in this make believe fantasy world and you
11:34
know what that's exactly what the Chinese that's exactly what
11:37
the Russians that's exactly what the Saudis that's exactly what
11:41
all these BRICS countries and all are all saying they're like
11:44
we're we're kind of like fed up with your your your your fantasy
11:49
financial system and those countries are moving more toward
11:53
gold and silver. I went off on a tangent.
11:55
I apologize. Anything you want to add to that
11:57
Mr. Coin Shop, Chris? You.
11:59
But you make a good point Ron. You know, talk about China for a
12:02
minute now. China don't have to fire one
12:04
missile towards us at all. All they have to do, Ron, is
12:08
shut everything down. They send to us.
12:11
United States will be devastated.
12:13
There be no more small appliances.
12:14
There will be no more big appliances.
12:16
There will be no more nothing at your local Walmart on because
12:19
Walmart buys everything from China.
12:21
You know, your your, your cheap furniture you can buy at
12:24
Walmart, your mirrors, what this, whatever your home goods,
12:27
all all that stuff comes from China and whatever's in your
12:30
warehouses, now he's still warehouses or in the stuff.
12:33
That's it. All China says has to say, give
12:36
us the middle finger on really, and say we're done.
12:40
We're not shipping you nothing. Yeah.
12:42
And and Chris, Chris, wow, think about this.
12:45
Think about this idea cuz I was talking with Andrew McGuire live
12:48
from the vault who worked with that Kinesis company over in the
12:52
UK. Very smart guy.
12:53
He basically said the same thing but he kind of said like like
12:56
they could they could they could they could use a nuclear option
13:00
on the United States without ever firing a missile or a all
13:04
they would have to do is is revalue or or or go to a gold
13:10
backed currency at that point that would destroy the United
13:14
States. And think about this like if
13:15
those countries decide which there's been a lot of
13:20
speculation and indication that they are moving toward more gold
13:26
backed, silver backed, commodity backed, you know, backing their
13:30
currency with real assets. Think about this.
13:33
I I I'm not a historian, but I'm confident in saying that like
13:38
during World War, after World War 2, you know the United
13:41
States, we kind of produced a lot of the the ammunition and
13:44
the goods that were used by the European countries to fight.
13:48
We demanded that they pay us with gold because because we we
13:53
weren't sure that their currency was going to be worth anything.
13:56
And I believe the same thing happened during World War One.
13:59
Like we demanded that they pay us with gold because we weren't
14:02
sure that their currency was going to be worth anything.
14:04
What if those countries do the same thing to us?
14:07
What if we get to a point where China, Saudi Arabia, Russia, the
14:11
all the bricks will just, you know, all ten of the bricks get
14:15
to a point where they're like, hey America, we, you know, we
14:19
are using a currency now that is backed by a real asset and is
14:23
tethered to something real. And we're over, you know, in
14:26
America saying, well, we've got paper money.
14:28
We've got paper money. Look, the dollar, let's say,
14:31
that's great. But if you want anything from
14:34
us, it has to be in in the form of gold or it has to be in the
14:39
form of some type of money, real money that's backed by, like
14:45
they could force us to revalue gold.
14:48
Does that does that make sense? Maybe that's the best thing for
14:51
everybody, really. Yeah, yeah, you know.
14:54
Maybe it's maybe it's the best thing for the United States to
14:56
join bricks. But is bricks gonna let us in?
14:59
I don't think so. They've had enough of it, Ron.
15:03
Yep, they've had enough of it. All right.
15:04
Well, that I think we just had a fascinating conversation that's
15:07
going to get more interesting here because I want to briefly
15:10
touch on GDPPCE and BTFP. OK, three quick acronyms.
15:18
Yeah. Well, GDP, we had a unbelievable
15:22
great GDP numbers for the fourth quarter.
15:24
Imagine that right before we get into this big election cycle.
15:27
The economy is doing great. I just want to point out a big
15:30
portion of the growth in that GDP economic number was from
15:36
recreational vehicle sales and coin shop.
15:38
Chris and I will be going on a recreational vehicle trip around
15:42
the United States and Canada and we may even float it across the
15:46
ocean to visit you. When the price of silver gets to
15:49
$85. We're going to ask our channel
15:52
sponsor Pinbex at that point to help sponsor our our gold and
15:56
silver painted RV. But if you want to get your
15:58
hands on some silver, gold or platinum right now, go check out
16:02
Pinbex. I think they check all the
16:04
boxes. They have the great greatest
16:06
prices. The best prices.
16:08
Great service and selection. Chris.
16:11
GDP, RV's. Hey, that's awesome.
16:14
PCE we got oh, the feds controlling inflation, right?
16:19
Oh, the inflation is under control.
16:21
Well, in the feds favorite inflation metric or measurement
16:26
stick. Is this PCE, the personal
16:28
consumption expenditures that came out yesterday?
16:32
Did you know that the PCE index, it it does not.
16:36
It eliminates, it takes out the cost of energy and food.
16:40
What's up with that? The two highest cost things that
16:43
we pay for run and it probably takes out housing too.
16:46
It probably takes out rent in in a mortgage payment.
16:50
You know the the numbers are flawed.
16:53
We all know that. You know, they have replaced
16:55
those, the core CPI from beef to chicken on.
17:00
And they just, you know, they moved it.
17:02
They moved their little chess pieces around to their
17:04
checkerboard. They don't even playing on the
17:06
chess board. They're playing on a
17:08
checkerboard with chess pieces. And you know, they're just
17:12
moving them here and here to see what, see what makes them look
17:16
better. And that's all they're doing.
17:18
Yeah, yeah, I want to. I want to.
17:20
We're going to move on here in one second to the numbers, guys.
17:23
We have some fascinating numbers regarding why you may be paying
17:28
up to 10% more for your silver and gold, but I want to touch on
17:31
one thing about this GDP. One final things.
17:34
I think this is sad and hilarious at the same time.
17:39
Basically, Chris, I want to ask you a question.
17:41
If if you took, if you went to Home Depot and bought $25,000
17:47
worth of building supplies you were going to add on to your
17:50
house, OK, so you buy $25,000 worth of building supplies and
17:55
you put it on your Home Depot credit card.
17:57
OK. Then you do all your work, you
17:58
get it all done and you call the realtor over and you say, look
18:02
what I did. I put this addition on my house.
18:05
I worked so hard, I did it all this, you know, all this work
18:08
and I bought $25,000 worth of supplies at Home Depot.
18:11
And that realtor tells you and you say, well, how much, how
18:14
much value did I add to my house?
18:16
And that realtor says about $10,000.
18:20
So now you've added, you spent 25,000 that you're going to owe,
18:25
you have debt and you're going to be paying interest on, but
18:28
you only added $10,000 worth of value.
18:31
Do you think that would be a smart move?
18:34
Absolutely not. But how do you know that until
18:37
you do it And you know, I mean normally when you spend 25,000
18:43
you can almost double that. Right.
18:46
Good. OK, great, great point.
18:48
The reason I told that story is because that's what the US
18:52
economy did in the fourth quarter, these unbelievable GDP
18:57
numbers. OK, here I have it.
19:00
Hold on a second. Hold on, But we also had
19:02
Christmas spending. Too out of the No, that doesn't
19:05
matter. That doesn't matter.
19:06
Here's here's a chart right here.
19:08
Here's the amount that the the USGDP grew during the fourth
19:12
quarter, 300 and $28 billion. This is the total amount of
19:19
debt. This is the the deficit increase
19:21
and that's the total amount of debt increase.
19:24
OK, that was $2.55 in debt increase to only get a dollar's
19:31
worth of GDP growth. We're in a position where we're
19:34
in a spiral. That's what I was trying to
19:36
demonstrate that we're we're spending, it's taking $2.55
19:41
worth of new debt to get $1.00 worth of GDP growth.
19:45
That's like going and spending 25 grand on building supplies
19:49
and only adding 10,000 in value. And it's a spiral situation,
19:54
right? And all that growth and debt
19:57
that we had, it is going to make this, it's going to exacerbate
20:00
the situation as we move forward.
20:02
So this whole idea that, oh, the it's all smoke and mirrors, I'll
20:06
be quiet. Let's talk about paying too much
20:09
for silver, too much for gold, people who are forced, people
20:13
who live in certain states. Do you live in one of the states
20:17
where you're forced to pay sales tax?
20:19
Chris has some data for us. You want to run through that?
20:22
Ron, this was a very hard list to put together because after
20:25
some research online different websites, you know you you type
20:30
in what sales taxes for different States and this
20:34
different websites come up. So I mean and everybody seemed
20:37
to have a little bit of different numbers.
20:40
So I'm going to do the best as I can.
20:42
If you have one of these states, please correct us.
20:45
We would like to get the IT the right information out to
20:48
everybody, but I'm fine. Hawaii, if you live in Hawaii
20:53
you're the dealer pays the sales tax in Kentucky there's a 6%
21:00
across the board on everything. State of Maine is also 6%, New
21:07
Jersey is 7%. New Mexico I'm seeing based on
21:12
what's sold. So I don't have a percentage on
21:15
New Mexico, Vermont, it's also 6%.
21:20
Washington DC of course they could have tax.
21:24
I don't have a percentage on them and I found one website
21:28
saying it's Wisconsin two and I don't have a percentage on them.
21:33
Now the states that have a minimum threshold, California
21:37
used to be run $1500. California recently upped their
21:43
game to $2000. That means you have to spend
21:46
$2000 on silver or gold before it comes tax free.
21:52
Connecticut was they had the same kind of threshold but they
21:55
are $1000 threshold. State of Florida It's only on
22:00
foreign silver and gold. So Canadian Britannias
22:05
Australian fourth. Anything else is $500 then it's
22:14
become tax Free State of Maryland.
22:16
Anything less than $1000 is a taxed Massachusetts, $1000 or or
22:25
less, it's taxed. In New York, $1000 or less, it's
22:30
taxed. So you got to be over these
22:32
thresholds to get your tax exempt.
22:36
Yeah, yeah. And that's that's.
22:39
A sad. I mean.
22:40
California went the wrong way with that.
22:44
Yeah, it's A and it's a. It's a.
22:47
It's a tragedy that people would be taxed on converting one form
22:52
of money to another. I always like to use the
22:55
example. It'd be like going to your bank
22:57
with $100 bill, saying I want $520 bills and them telling you,
23:02
well, that's going to cost you $108.00.
23:05
Give us 108, you know, dollars and we'll give you those five
23:08
20s because silver and gold were money long before Fiat was.
23:14
What about, what about? So people can't necessarily
23:18
control, I mean they could go to neighboring states or whatever,
23:21
but what you can control is the price you pay for the silver
23:25
that you have. Did you do any comparison
23:28
shopping for us this week, Chris?
23:31
Before we get to that, yes, Ron, I would like to make one point
23:33
about that. Going to neighboring state, if
23:36
you're going to do that, I would recommend to bring cash because
23:41
so your state don't know that you went out of state because
23:44
states are starting to watch all this and you know you go out of
23:48
state and they know you, they will know what you bought
23:51
basically by bringing on the credit card.
23:53
So if you want to go, I need the radar use cash.
23:57
So yes, I did some comparing shopping on this week.
24:01
We're going to talk about this week 20 four 2024 Silver Maples
24:06
in the tube Lawn and there's 25 in the tube.
24:11
So I went over to Money Metals Lawn.
24:14
They were $717.00 for 225. Silver Golden Bowl was seven O 9
24:23
even BGASC was seven O 475 at Max.
24:30
Had a sale on OK, a sale price of 69975 JM.
24:36
Bowen also had a determined sale price of 67475 SD Bowen came in
24:45
at 67425 Hill. Bowen came in at $665 at our
24:56
sponsor pin backs had them at $663.25.
25:03
That's the savings of 5375. I would also like to note at
25:07
this time on that is a kind of of a pre-order.
25:10
Pemdex does not expect them to have them in until February 9th
25:14
at this time. OK, OK, but from from the
25:17
highest price to the lowest price on one tube of Canadian
25:22
2024 Canadian Maples, in which there's 25 coins in each tube
25:28
was over a $50 difference. So in theory, when comparing pin
25:34
backs to the highest priced of the group that you just showed,
25:37
a person could order that tube the same exact tube of maples,
25:41
but get themselves two additional maples basically for
25:46
free. Is that correct?
25:49
Yes, that is correct and I would, I would also like to
25:52
point out pin backs beats at Max and JM Bones so-called sale
25:58
price. Interesting.
25:59
Yeah, very interesting point. That out, Danny?
26:02
And I, and I want to point out that when you do this comparison
26:05
shopping, you do it on the same day, at the same time and you're
26:10
comparing the cash price for the same number of coins, right, for
26:16
the tube. So we are comparing.
26:18
I mean we are comparing maples to maples.
26:23
Pretty much, yes. That's what we're doing.
26:25
And you know, I mean you know, and this is not a call out to,
26:29
you know, rag these other companies, but really we, we all
26:33
need to shop around. I mean you know, $53.75
26:38
difference. I mean that's, you know, you
26:42
want to go pay more money, metals, you want to go pay more
26:44
at silver, go. Let me let, let me let me ask
26:46
you a question Chris. If I call you up an hour from
26:49
now and say, hey Chris, I'm going to come by your house and
26:53
bring you a tube of 25 Canadian Maples that I will sell you for
27:00
what, 580? I'm just using $580 and and I
27:06
show up at your house and I say here's your tube of maples and
27:10
then I have two additional coins and I say do you want these as
27:12
well? I mean wouldn't you take them?
27:14
I. Would say, yeah, I'll give you
27:16
the difference for, for them. Oh yeah, that price.
27:19
Yeah. Right.
27:21
I mean so why not, I think we're, I think we're doing a
27:23
great service to the stacking community.
27:26
What about the 30 day numbers my friend?
27:28
30 day numbers OK 30 day numbers were on.
27:32
Server was in a hole this past 30 days.
27:34
Down $1.50 or down 6.13% Gold was down. $51.60 or down 2.49%.
27:46
Platinum was down $660.70 are down 6.81%, Bitcoin was down 600
27:55
and $7027.67 or down 1.48%. And I've always, you know, on
28:04
the oil run, you know we have to watch oil because everything
28:07
revolves on around oil. Oil was up $2.66 a barrel or up
28:13
3.52% run. Wow.
28:17
You know just a few weeks ago we were talking oil beam down,
28:21
down, down. Now what I like to make out is
28:24
Ron, when we had lower oil prices, silver, gold, platinum
28:28
were all higher oils up. But why the metal is down?
28:35
Well, that. Makes no sense.
28:37
And oil is the lifeblood of the world economy.
28:40
It's the biggest traded commodity in the world.
28:43
And it's also, I wanna just touch on this because I think
28:46
it's critical that silver and gold investors understand this
28:50
idea that right now a barrel of oil, 1 barrel of oil cost about
28:58
1g of gold. A gram of gold is about 130th of
29:01
an ounce. So roughly, you know, 1g of
29:04
golds, let's say $70.00 and a barrel of oil we'll say $70.00.
29:09
There's this idea that the BRICS countries and it's I think
29:12
Zoltan Pulsar is the one who initially floated this idea and
29:17
it's been this is being talked about that the the BRICS
29:20
countries could get to a point where they say you know what,
29:22
we're going to reprice oil in gold terms.
29:27
We're now instead of getting one for one for one gram of gold,
29:32
you now get 2 barrels of oil. But since oil is such a bigger a
29:39
commodity mad like 10 times the size of the gold market, that
29:43
would essentially make the value of gold pretty much double
29:46
overnight. That's an idea that's been
29:49
floated out there. And and part of that like you
29:52
know, de dollarization, war on the dollar, I'm not saying that
29:57
I think it's going to happen, but it does make sense.
30:00
And and if it does happen, you know we could see that's a a
30:05
great example of what we talked about earlier where you know so
30:08
you get the BRICS countries that that kind of are are coming
30:11
together and working together and have made it very explicitly
30:15
clear that they want to move away from the dollar that that
30:18
that's the type of scenario that could possibly unfold.
30:23
And then I just, yeah, absolutely.
30:25
Ron, I just got two more points. I know we covered this already.
30:27
But again, everybody knows silver, the gold ratio was
30:30
88.13. And I got one question for you,
30:34
Ron, and we can wrap this up. I guess what is, I just noticed
30:39
this wrong on the US debt clock, Your portion of the interest, if
30:43
you're an adult in the United States, what do you think your
30:46
portion is? And everybody's portion is just
30:50
the interest along on the debt. Interest on an annual basis or.
30:55
On as we sit right now. Roughly sit right now.
30:59
What would you what? Oh, I don't know. 15,000.
31:04
You're you're pretty close, Ron. It's 16,000, $595.
31:10
I want to I like this. Ask how many people out they
31:13
really have 16,595 bucks seeing their bank account.
31:18
Not many of us, but I know I don't.
31:21
We don't. We, we, we don't want to be doom
31:23
and gloomers, but we want to be risk assessors and it feels like
31:27
we're in a very risky situation with it.
31:29
We are in a debt spiral or we're very close to a debt spiral in
31:35
this country and there's absolutely no interest in,
31:39
excuse me, addressing it from a political perspective.
31:44
Absolutely. Well Chris, thank you on behalf
31:48
of our viewer, right. I know you you're the most
31:50
important guy in the world. I'm the second most but the
31:53
viewer is also the most important.
31:56
You know that's there is no Ron's basement, there is no Ron
31:59
and Coin shop Chris without this viewer.
32:01
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32:04
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32:20
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32:26
Comment Chris. We'll look forward to talking to
32:29
you next week. I'll.
32:30
See you next week. I want to thank everybody for
32:32
watching and we'll catch you all next week.