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Transcript

**SILVER** You Best LISTEN CLOSE to This! 🎯 (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Welcome to the live stream. Welcome to you to the basement.
0:06
We're going to have some fun today, $600.00 silver.
0:10
Some people get so upset when I talk about that.
0:14
Are you one of those people? If you are, I'd recommend you
0:16
not watch this video, not engage in this live stream because
0:21
today I'm going to tell you based upon a piece of
0:24
information that was shared with me by one of you, yes, basement
0:30
dwellers, about what happened in the 1970s and lays it out very
0:36
simple for us to understand how we could easily get the $600.00
0:39
over. But actually guys, the situation
0:42
now is even crazier. So let's dig right in.
0:46
Thank you for being here. Thank you for being part of the
0:48
basement. Please give this a thumbs up,
0:51
subscribe to the channel that helps us get the word out to
0:55
more people because you are important.
0:58
The message that we are sharing about silver and gold are
1:02
important. So please share this video, give
1:06
it a thumbs up and subscribe and I won't beg for anything else
1:08
from you for the rest of the video.
1:10
Let's go take a look at what I got in the mail.
1:14
Let's take a look. And I even put pretty color
1:17
highlights on it, guys, in purple.
1:19
Let's remember in the 1970s, silver rose from under $1.50 an
1:25
ounce to nearly $50.00 an ounce in 1980.
1:29
Thus, silver rose by more than 25 times, or more than 2500%.
1:37
Actually, it went up 33 times. And I've even heard some people,
1:42
according to our provider of this information, say that it
1:46
went up as many as 38 times and I've heard that as well.
1:50
None the less, if you multiply the current silver starting
1:54
price and we'll go back to $25, we'll be conservative by 25,
2:00
right? If silver were to go up by 25
2:03
times again, we would easily get the 600 and $25 silver.
2:09
But that's not really the important part, guys.
2:11
What's important here as we talk about this is that we really
2:16
dive in deeper and understand that while we had these crazy
2:20
moves in silver in the 70s up into 1980, the conditions now
2:27
are much more extreme. We could potentially have an
2:32
even more extreme move. And I think a lot of us, if
2:36
you're like me, feel like, well, if we get the triple digits
2:39
silver, we're so conservative, right?
2:42
Oh, $100 silver. How could you even say that?
2:45
This is black and white proof that we could go way, way
2:49
higher. We could don't make any
2:51
financial decisions based on anything I'm saying.
2:53
I believe this. You need to listen to me, listen
2:57
to other people, because trust me, there's plenty of people out
3:00
there who'll say Ron's just a silver pumper, Ron's full of it,
3:03
Ron lives on a bubble, blah, blah, blah.
3:06
Well, hey, look, I happen to know, right?
3:08
Like I looked at Bitcoin and we're going to talk about
3:11
Bitcoin a little bit later. When Bitcoins were $10 each,
3:15
what are they now, $60,000 each? Why can things like Bitcoin or
3:20
NVIDIA, some of these stocks go up thousands of times in value,
3:25
But if we talk about silver going up by 25 times, you're an
3:29
absolute maniac, crazy person. I don't buy it.
3:32
Do you buy it? I don't know.
3:35
Are we all maniacs and crazy? No.
3:37
I really believe that we could see these major moves in the
3:40
silver price. Let's get back to our piece of
3:43
hold on here. Make sure we're still live.
3:46
Yes, we are. Thank you.
3:47
By the way, Yes, you know, I started out begging you for for
3:52
giving me a thumbs up and for subscribing.
3:54
But what I really should have done was say thank you to each
3:57
and everyone of you right now for joining us in the basement.
4:01
I hope you found a home away from home, right?
4:04
We're all special and unique. I can, I can tell you one thing
4:07
for sure, right? All of us have a mommy and
4:10
you're the apple of your mommy's eye.
4:12
But when you're down here in the basement, you're a basement
4:14
dweller with us, right? We hope you found a community
4:18
where you feel comfortable where we can talk about things like
4:21
silver and gold. All right, let's get back to the
4:24
so. Thank you.
4:25
That's what I wanted to say. That's the most important thing.
4:28
Let's remember that the inflation adjusted 1980 high of
4:33
$50 alone would be $160.00 in today's money, right in red.
4:41
OK, It's hard for us to to think that this was the case.
4:44
But I've talked to the old timers who were around during
4:47
this period. They tell us that there were
4:50
lines out the door at the local coin shops around the corner,
4:56
that they would have to give people numbers and then turn
4:59
people away, right? Remember that picture of what's
5:02
going on in China right now with gold, with 800,000?
5:05
It was like that. But in the United States, that
5:09
can happen again. OK, And here we hear a lot about
5:13
comparisons of conditions now compared to the 1970s.
5:17
So in the 1970s, let's set this as a base.
5:20
And gold went up, Fanta Onyx, gold went up 17 times in value,
5:25
but silver absolutely skyrocketed.
5:27
That's our base. OK, that's our base.
5:30
But let's compare now, just for fun, basement dwellers, let's
5:33
compare how things are now compared to how things were in
5:37
the 1970s 'cause I need to give you a quick look in the eye.
5:40
I'm going to tell you something right now.
5:42
When I was a kid, that's what my dad would say.
5:44
When you get mad at me, I'm going to tell you something
5:46
right now. And I knew I was in trouble.
5:49
You're never in trouble with me. But I'm going to tell you
5:51
something right now, buttercup. Things are more extreme.
5:56
Conditions are more extreme on almost every and any variable
6:02
that you want to look at a variables that will have an
6:05
impact on the precious metals prices.
6:07
Things are crazier now. Do I have to pull up the US debt
6:12
clock? No.
6:13
Right. We've looked at it plenty of
6:14
times. That's just one example, right?
6:16
The national debt, I mean, compared to the 1970s when we
6:21
thought we had some financial troubles, our debt is
6:24
unbelievably exponentially higher.
6:26
So it begs the question, why can't silver be unbelievably
6:31
exponentially higher? You ever think about that?
6:34
All right, let's get back to our article.
6:36
You're tired of looking at me. I don't blame you.
6:37
I'm tired of looking at myself. Things are more extreme now in
6:43
green, fiscally, OK, Our government, Oh my gosh, out of
6:48
control spending, nobody cares, all right.
6:51
It's things are way worse now than the 70s monetary policy.
6:55
the Fed has turned into a printing press machine.
6:59
OK, We've just gone off the gold standard in the 1970s now,
7:03
right? We know it's all funny money.
7:05
Unicorn Fart does make believe. Everything's a big facade now.
7:10
Again, comparing conditions now to the 1970s.
7:13
Now, I also want to tell you this, I want to say thank you to
7:16
our channel sponsor Pin Backs. And we'll do this quickly, but
7:20
it's very important I give you this message, OK?
7:23
If you're looking to get yourself some gold, silver,
7:26
platinum group metals, do yourself a favor.
7:28
And I mean that. Check out Pinbex.
7:31
I will never tell you what to do.
7:34
I don't give financial advice, but I would say you may benefit.
7:38
All right, If you're looking to buy silver, gold or platinum
7:40
group medals, from comparing what you can get from Pinbex to
7:43
the other big online bullion dealers, I always find I get a
7:47
lot more metal for my money, the exact same metal.
7:51
And they always have what I want.
7:52
They've got a great selection and it's a company that I trust,
7:56
but you need to dig in and discover that for yourself.
7:59
And I think when you do, you'll be like me, a repeat customer of
8:03
Pendex. And hey, while we're here,
8:05
Silver up $0.20. OK, so we're done for the week.
8:10
We can relax, guys. We closed above $29.00.
8:14
Sorry, I'm yelling. We closed above $29.00 for the
8:17
week. Basement dwellers, we must say
8:20
that midweek it was looking questionable whether or not we
8:24
would close out the week above $29.00.
8:26
And at one point this morning, the silver price looked like it
8:30
could even breach the $30 level. All right, back to this.
8:36
Debt levels we talked about that already are worse now socially
8:39
in this country. Things have never been worse,
8:41
right? And we got that.
8:42
I didn't even put it on the list.
8:44
We got millions of illegal immigrants coming into our
8:46
country. Politically, Oh my gosh, right.
8:50
Are you tired of hearing about the debate last night?
8:52
But politically in this country, and we are heading into the meat
8:56
of the firestorm. Politically, things are way
8:58
worse now than they were in the 70s.
9:01
Geopolitically, Can you believe all this?
9:04
This is depressing. Maybe I should stop right now.
9:08
Well, we got war in Europe, we got war in the Middle East.
9:11
We got a potential war in China with Taiwan.
9:13
We got a potential war with North Korea and South Korea.
9:17
Let's just say geopolitically, things have never been like they
9:20
are right now, not since World War Two, OK?
9:24
Not to mention you've got more than half of the world aligning
9:27
themselves in this bricks alignment where they're wanting
9:31
to move away from the dollar and wanting to tell the US to go
9:34
take a big jump, right? They're tired of the US being a
9:37
hegemony, hegemony, hegemony. However you say that word,
9:41
hegemony. OK.
9:43
On top of that, all those situations being more extreme
9:48
now, the industrial demand for silver solar panels, electric
9:53
cars, the technology revolution, semiconductors, right?
9:58
That was not the case during the 1970s.
10:01
Absolutely, there were industrial demands for silver,
10:03
but not the unbelievable prospects for increase in demand
10:09
in silver solar. OK, you know that story.
10:14
Semiconductors, you know that story.
10:16
Electric cars, you know that story.
10:19
And that's really just the beginning of the list.
10:22
There's like 300 applications for silver.
10:24
So now on top of everything else being extreme, the demand
10:29
profile, right, the deficit situation in the silver market
10:33
for what the last four years now that's a different situation,
10:37
OK. And and this is might, maybe
10:40
you'll, maybe you'll say, oh, this is actually a negative,
10:42
Ron. That's a negative, no less
10:44
investor demand. Now that's a big positive.
10:48
Because what that tells us is that when investor demand does
10:51
pick up, we've talked about this ad nauseam, basement dwellers.
10:55
But when investment demand does pick up, right, even the
10:57
smallest pick, pick up in general investor demand in the
11:02
precious metals and we're focused in on silver right now
11:05
will be like trying to drain Hoover Dam with a garden hose.
11:09
I wish I knew who said that originally.
11:10
I'd give him or her credit. OK, did I miss anything?
11:14
Right. This is the green.
11:15
So we know quickly let's review. Silver had unbelievable returns
11:21
in the 1970s. We know now by what we just saw
11:24
there in green that the macro situation for the silver market
11:29
is so much more extreme. The variables that affect the
11:32
market are so much more extreme now and these are all variables
11:36
that will lend support to the silver market.
11:40
Do you think I'm done or do you think we have more to talk
11:42
about? No, we got more to talk about.
11:44
And this is actually the bonus kicker.
11:47
And then there's a bonus bonus kicker, right, because it just
11:50
gets even crazier when you think about this.
11:54
Let's go back. I just wanted to say hi to you
11:56
guys. But but but wait, there is more
12:00
yes, because I messed up there. There we go in purple.
12:06
There's more. That can lead to another major
12:08
silver squeeze. Similar to what happened in the
12:11
70s. Similar to what happened or even
12:14
more extreme back in 2020, More 24.
12:17
Why is it more extreme? Because now guys, as compared to
12:22
the 70s, news travels exponentially faster.
12:28
In the 1970s, people relied on on Rotary dial telephones and
12:32
newspapers and the company water cooler for information to
12:36
spread. So it took days, sometimes weeks
12:40
for for things to catch on. Now things are spreading in an
12:44
instant. And and when people do wake up
12:48
to the silver, there is a sudden rush to the silver market.
12:52
The big difference, remember earlier we talked about lines
12:55
around the block, out the door, the local coin shop.
12:59
And yes, we could potentially see that again in the near
13:03
future, in the, in the midterm future, but we could also see
13:07
digital lines. Cause the big difference now is
13:11
that you can buy silver and gold online.
13:13
Remember, we were just at the Pinbeck's website that didn't
13:16
exist in the 1970s. If somebody wanted to buy silver
13:20
or gold, pretty much their only option was to steal it from
13:23
grandma or go to wait in line at the local coin shop.
13:27
Now you got three options. You can steal it from grandma.
13:31
You can go wait in line at the local coin shop or you can hop
13:34
on your phone and instantaneously, guys, any of us
13:40
here in the next 5 minutes, goodbye several monster boxes of
13:44
American Silver Eagles. Think about that in 5 minutes.
13:48
OK, no problemo. I know you're Mr. Moneybags or
13:51
Misses Moneybags, right? We could buy.
13:55
Think how different that is. I want to look at you and talk
13:57
about that. We could buy monster boxes in
14:00
minutes. OK, in the 1970s, if you wanted
14:04
to buy a monster box, I don't even know if they had them back
14:07
then, to be honest with you. But if you wanted to buy the
14:09
equivalent amount of silver in the 1970s, you had to go to the
14:13
bank, probably take out a bunch of cash, right?
14:17
Get back in your Cutlass, Dr. your Cutlass down the street to
14:20
your local coin shop if you could because there was a gas
14:23
crisis. But nonetheless, go wait in line
14:26
with your big heavy wad of cash and hope when you got to the
14:29
front of the line that they would have that monster box
14:33
available now, 5 minutes Max, we could buy a monster box.
14:38
Think about that. And why is that important?
14:41
That's important because the available inventories of silver
14:46
can be gone super quick now. That's way different than what
14:51
we saw back in the 70s and the amount of silver, the silver
14:55
market, we talk about this all the time.
14:57
I'm just honest with you guys. I'm sensitive, I'm delicate.
15:01
So be careful with those comments, OK?
15:04
But guys, the other thing that's sensitive and delicate is the
15:09
silver market. It's very thin, right?
15:12
I, I've heard it from all the top bullion dealers.
15:14
But we, we think that, oh, we just take for granted that we
15:18
can go to pin backs and there's all this supply that we can go
15:20
to. The other big on it's, it's a
15:22
very, very narrow market. It doesn't take a lot, right?
15:27
Remember what happened during the little banking crisis 14 1/2
15:30
months ago? Silver was gone.
15:33
OK, Remember during the C19 crisis, silver was gone.
15:38
It can happen super quickly. And those were big deals, right?
15:43
But if we get a really big deal, silver could be gone and it
15:47
could be almost impossible to get.
15:49
Possibly, possibly I'm gonna be tinfoil hat run here, but
15:54
possibly forever. So we got to think about that in
15:57
the in the context of what's happening.
16:00
The other big component. Well, let's make sure we got
16:02
through all that. Hold on here.
16:04
Hold on. I hope you guys are doing well.
16:08
Happy Friday night. I don't have to work tonight.
16:10
Yeah. The other big thing.
16:11
So purple people can clean out the retail silver supply much
16:16
faster with online sales extras. Pyramid crumbling.
16:21
OK, let's take a quick look at some headlines here.
16:24
I thought this was interesting. Well, here, gold, this was
16:27
Reuters gold shines on rate. This is today, right?
16:31
Yep, Friday, June 28th in the app did this Breaking news from
16:35
Reuters, Reuters, Yahoo Finance Gold shines on rate cut hopes
16:40
after inflation data on track for quarterly gains.
16:45
This is talking about gold, right?
16:47
Gold prices steadied on Friday headed for their third straight
16:51
quarterly gain after it. So that's three quarters of
16:54
gains right? The quarterly close green, OK, a
16:58
key US inflation report that was the PCE.
17:01
Watch the earlier live stream. Actually watch yesterday's live
17:04
stream. We talked PCE as the preferred
17:08
inflation gauge used by the Federal Reserve.
17:11
And our old friend Gomer Pyle or Jerome Powell, sorry, always mix
17:15
up and call him Gomer Pyle was the.
17:18
So the US inflation report was in line with expectations.
17:21
All we were so shocked by that hope.
17:23
So now they're talking about, guys, I'll cut to the chase.
17:27
That we could get a rate cut in September says that down here
17:32
somewhere. We're not going to read through
17:33
all this, but here we yeah, here it is.
17:36
Traders are currently pricing at about a 68% chance of a Fed rate
17:40
cut in September, compared to 64% before the release of the
17:44
inflation data. Here we go.
17:46
San Francisco Federal Reserve President Mary Daly, she is one
17:51
of our favorite Fed Reserve presidents.
17:53
She's the, well, I'm going to leave that alone.
17:55
Also a member of the 2024 Federal Open Market Committee
18:00
said the latest inflation data was good news, Good news, that
18:07
policy is working. All right.
18:09
So here the price of gold's been trading in a fairly tight range
18:12
and will probably hold this range until the FOMC confirms
18:16
they will be cutting rates. That's from Chris Gaffney,
18:18
president of the world markets at Ever Bank.
18:22
So it's such BS Everybody's waiting for the Fed to, you
18:28
know, cut rates and thinks that that really is what's affecting
18:31
the price of silver and gold. We know it's all a bunch of
18:35
short term noise, the reality long term, just like happened
18:39
with Japan right here. Do I need to pull it up here?
18:42
I'll pull it up. Hold on here.
18:44
I got something to show you. Just like happened with Japan.
18:48
I'm going to do 2 things at once.
18:50
Hold on here. Here we go.
18:52
All right, I'm looking. I'm talking to you, but I'm
18:54
looking at my screen. Just like happened to Japan.
18:57
Because in the long run, what's gonna happen in the United
19:00
States? We're almost there.
19:02
We're almost we are there. Is this right?
19:05
There's a 30 year. I show it every day.
19:08
It's my new favorite chart. 30 year silver price chart for 30
19:15
year chart for silver in Japanese yen.
19:19
That's what I'm trying to say. Here we go guys, look at that.
19:22
That's exactly what's going to happen in the United States
19:25
because this is what's called mathematics and we are doing the
19:29
same thing that Japan is doing. So they can talk all their
19:33
gobbledygook, short term stuff, whatever.
19:35
Let's get back to our idea about silver.
19:38
What do you say? OK, because the other big thing
19:41
going on, let's go to extras pyramid.
19:49
Is this right? Extras pyramid down here.
19:53
See my arrow? Everything from here down, that
19:58
little bitty part that everything rest on this is an
20:01
upside down period is real. Everything up here is Unicorn
20:05
fart dust make believe synthetic.
20:07
Funny money, credit, credit, right?
20:11
What is it? Keynesian economics, whatever
20:14
you want to call it, everything up there is BS, right?
20:17
And when this stuff starts to come down, OK, it's not it.
20:21
It just takes a tiny little bit of this, right?
20:24
1% of this makes three times the derivatives, 1% makes 3-4 times
20:30
the amount of money going to something like silver.
20:33
And it gets crazy guys. And let's think about this, all
20:38
right, we got cryptos and crypto derivatives up there.
20:41
We got some interesting developments.
20:43
Let's just look at Bitcoin. This is from Coindesk.
20:46
All right, Coindesk. They say Bitcoin and crypto
20:52
close out a lame quarter. And one analyst believes more
20:57
pain could be in store. The price of Bitcoin has dipped
21:01
nearly 15% during the second quarter, and all coins fared
21:04
even worse. Look, I'm not an anti crypto
21:06
person, so please don't send me any hate mail, right?
21:11
I don't own any Bitcoin. I don't own any crypto.
21:14
I kind of have an understanding of what the blockchain is.
21:17
I think it's great. I also love the fact that people
21:21
in the crypto world share many of the same fundamental beliefs
21:25
that many of the people in the silver and gold community hold.
21:28
But I do believe that there's a possibility, right, because
21:32
things like Bitcoin have siphoned off money from the gold
21:36
and silver market that when we look at this extras pyramid,
21:41
part of that money, if people lose faith in crypto currencies,
21:46
could flow down into the gold and silver market.
21:50
The other thing we need to consider is this, right?
21:54
Listen to this congratulations to you if you have money in the
21:59
stock market because the S&P surges to the best election year
22:04
first half, so January through June since 1976 as rate cut
22:08
hopes and macro data collapse, everything's falling apart.
22:16
However, however, the stock market's at all time highs, you
22:21
know, so look, if the stock market were to crash, OK, the
22:26
common fear amongst silver and gold, everybody says, oh, if the
22:30
market crashes, gold and silver go down, right?
22:33
That's the, the common theme or the common bias or the common
22:38
story or thesis that we hear the stock market crashes, the S&P
22:43
500 crashes, the price of silver and gold crash, right?
22:47
I'll sure I'll admit I will I'm, I'm, I'm going to argue that.
22:51
I'm going to argue that. I don't know how you feel about
22:53
it, but I'm going to argue that because I don't think that that
22:55
absolutely has to be the case. I know there have been times in
22:59
history, including the Great Depression, where that wasn't
23:03
the case, where the price of gold and silver didn't
23:06
automatically get annihilated because the stock market
23:10
collapsed. The whole theory for those of
23:12
you who don't know, is that when the stock market goes down, some
23:17
people that own silver and gold have to sell their silver and
23:20
gold to cover their losses in their stock market accounts.
23:23
I don't buy it. I think we're in a new world, a
23:26
new paradigm. You know what's driven the gold
23:28
price, right? What's your think about this?
23:31
Why? I'll tell you why it's BS.
23:32
This is this is an aha moment for us.
23:35
I'll tell you why that theory, I think very well could be BS,
23:39
that just because the market goes down that the price of gold
23:43
and silver have to go down. No, it doesn't.
23:46
Because think about it, what's driven the price of gold and
23:50
probably the price of silver as well over the last six months,
23:54
over the last year and a half, central bank buying, but eastern
23:58
central bank buying, those are the people that it drove the
24:01
price up. Those are the people that are
24:03
holding the investment gold. Now.
24:06
They're not going to be impacted by the US stock market, not
24:09
significantly, right? I might argue that even the
24:11
opposite could happen, right? That if that were to occur that
24:15
the stock market starts to go down, let's let's go look at
24:19
let's go look at extras pyramid 'cause I think this is
24:22
important, right? I don't see stocks on here.
24:25
They have bonds on there, right? The bond market goes down.
24:28
But if the stock market starts to go down, think of all the
24:31
make believe money in the stock market.
24:34
Again, this is all synthetic, all fake, all Unicorn fart dust,
24:39
whatever you want to call it, OK, that includes the stocks,
24:43
right? These stocks, if people, if
24:45
people get get get scared that are in the the NASDAQ or the S&P
24:50
500 and they really get scared, that money's going to be looking
24:54
for something safe, right? The bonds aren't going to look
24:57
any good because we're mathematically up a Creek
25:00
without a panel. It could lead to it's some money
25:03
and it would not take a lot, guys.
25:05
I mean, remember on an annualized basis, what's the
25:10
total amount? I'd say there's a billion ounces
25:13
of silver produced every year. That's mining and recycling
25:17
combined. It's about a $30 billion market.
25:21
I mean, what's the, I'm, I'm, I'm getting flustered here.
25:27
We gotta go check What's the market cap of NVIDIA alone?
25:31
Let's go check that out. I mean, it's absolutely, it's
25:35
absolutely crazy. Let's go to Yahoo Finance.
25:39
We're on a little trip on the Internet together guys.
25:41
What's the market cap of NVIDIA? NVIDIA, here we go.
25:48
This is going to be interesting, $3 trillion.
25:54
So that would mean the entire silver market, OK?
25:59
They are the entire market value of all the silver that's
26:03
produced in one year in the world, right, is 1%, right,
26:11
Because 300 billion would be 10%.
26:14
Yeah, 1% of the market cap. There's the market cap right
26:19
there where my cursor, my arrow is over $3 trillion.
26:24
Does that make any sense? So if we had, OK, here we go,
26:31
right. If 1% of the money left NVIDIA
26:35
then went into the silver market, it would double the
26:38
amount of it would it would be it would it would they could buy
26:41
the entire production, annual production, all the mining, all
26:46
the recycling efforts, right, 1% of NVIDIA.
26:49
Does that make any sense? No guys, that does not make any
26:54
sense. That shows how distorted how how
26:58
perverted the markets are right now and is that perversion is
27:04
very extreme, right? And some of these tech stocks
27:08
and, and even the S&P 500 in general, it's also extreme on
27:12
the negative side in the silver and gold market.
27:14
I appreciate you joining me today.
27:15
Have a great weekend. OK.
27:17
I have a feeling I'll be seeing you at some point over the
27:20
weekend. Thank you to all the moderators
27:22
for being here. Thank you, Annie Oakley for
27:23
doing a great job. I don't know who else is on.
27:26
Let me look through here real quick.
27:28
Who else do we have? There's Annie.
27:30
Thank you. OK, Blade man, the lone Rangers
27:35
here. All right.
27:36
OK, guys, thank you for being here.
27:39
Have a great day. Have a great night and I'll see
27:41
you soon.