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**SILVER** You Better PAY ATTENTION! 💡 (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  Is there a silver shortage in Texas?
• 0:04
  Is there a silver shortage in the United States?
• 0:07
  Is there a silver shortage on a worldwide basis?
• 0:11
  I think you know the answer to that question, but we're going
• 0:14
  to dive in to some recent messages that I've been
• 0:18
  receiving regarding is there an issue in Texas right now with
• 0:22
  silver or is it just a particular type of silver?
• 0:26
  And does that particular type of silver shortage, does that
• 0:29
  overlay the entire country? We know a couple things about
• 0:34
  our friend Silver and I know a couple things about you, my
• 0:37
  friend as well, who are joining me.
• 0:39
  You are joining me right now in the basement.
• 0:42
  It's a big honor. You're important, you're
• 0:44
  special, your mommy loves you. You got friends, family, and
• 0:47
  you're part of the basement group.
• 0:49
  When you're here, you're a basement dweller.
• 0:51
  So thank you for being here. Please subscribe to the channel,
• 0:56
  give the video a thumbs up. We can get the word out to more
• 0:59
  and more people and super chats are always super appreciated.
• 1:04
  Go a long way to help support the family.
• 1:06
  Now what do we know about Silver?
• 1:08
  Silver improves everything that it touches.
• 1:14
  Think about that for a minute, right?
• 1:16
  It improves electrical conductivity.
• 1:18
  It improves thermal conductivity.
• 1:21
  It improves batteries. What did we recently hear about
• 1:24
  Samsung and a new solid-state battery that set the
• 1:29
  revolutionize the electric vehicle world.
• 1:32
  It kills germs. Silver is everything OK?
• 1:35
  And we're running out of it. You know the data.
• 1:40
  I know the data. We're running out of silver
• 1:43
  right now. There are no new silver mines.
• 1:47
  I misspoke. There's very few new silver
• 1:50
  mines coming online. There's very few silver
• 1:54
  exploration or development projects.
• 1:58
  That's the first stage. OK, sure.
• 2:01
  You can think about silver mines.
• 2:03
  Hekla Mining, Fortuna Mining, who happens to be a sponsor of
• 2:06
  Ron's Basement, they have silver mines in Peru and Mexico.
• 2:10
  You can think about these big mining companies, but before
• 2:13
  there's a mine, before they can pull silver out of the ground,
• 2:17
  there are exploration companies and there are development
• 2:22
  companies. Once they explore and they find
• 2:24
  the silver, which hardly nobody's doing, next they have
• 2:27
  to develop it, which takes, what, 10-15 years to go through
• 2:32
  the permitting process, if they even find some silver, then they
• 2:36
  have to spend 10 or 15 years trying to get a permit.
• 2:40
  And you know what's going on in Mexico night?
• 2:43
  The Mexican government is making it increasingly more difficult
• 2:48
  for any type of new silver project to be permitted or
• 2:52
  built. That's what's going on.
• 2:54
  And on top of that, we know 75% of the world, silver comes as a
• 3:01
  byproduct, right? An afterthought from base metal
• 3:05
  mining, mining for things like zinc and lead.
• 3:08
  And in that area, there are fewer and fewer mines being
• 3:12
  built. And on top of it all, this is
• 3:13
  not a mining show. But you know, we're in the
• 3:16
  silver and gold. So we think we need to keep
• 3:19
  abreast of the mining sector because that's where the supply
• 3:24
  comes from. It just doesn't magically appear
• 3:27
  right this somebody spent a lot of time and a lot of energy to
• 3:33
  get this beautiful one ounce of silver out of the ground in the
• 3:40
  supply pipeline is running dry. OK, Now one more final very
• 3:48
  interesting point regarding the fact that 75% of the world's
• 3:52
  silver is a by product from copper mining, zinc mining, that
• 3:56
  type of thing. Those metals #1 there's also
• 4:00
  very little development stage work going on for those metals.
• 4:04
  But the newer deposits in particular with copper, right,
• 4:07
  all the easy copper's been found.
• 4:09
  The new copper deposits are much deeper in the earth.
• 4:12
  And I heard Ross Beatty himself say this.
• 4:16
  The new copper deposits don't have as much silver coexistent
• 4:21
  with the copper guys. When it comes to silver, it's
• 4:24
  the new oil. Our friend Pierce in Limerick,
• 4:28
  Ireland, I believe, coined that phrase.
• 4:31
  OK, And there's a lot of oil in Texas, but are they missing
• 4:35
  silver? Let's take a look at a couple
• 4:37
  comments that I've been receiving lately.
• 4:39
  And by the way, I want you to leave a comment.
• 4:42
  That's how we learn is from each other.
• 4:44
  We're going to share a viewer comment right now.
• 4:46
  Your comment, right, could be featured here in Ron's basement.
• 4:50
  You can be a part of the team. We want you here.
• 4:52
  You're welcome here. We want you to subscribe.
• 4:55
  And after you subscribe, yes, you can leave a comment and
• 4:58
  thank you for that super chat from our friend.
• 5:02
  Hold on here, Ramos Nerferton from Switzerland.
• 5:06
  Thank you, my friend. Hey, Switzerland, UBS right that
• 5:10
  we talked about this yesterday. The world's one of the world's
• 5:13
  biggest banks, UBS talking about what, 27, twenty $800 gold.
• 5:18
  Thank you, Ramos. Thank you and welcome to the
• 5:20
  basement guys. We've got people all over the
• 5:22
  world think about that. This is not a Saint Louis thing.
• 5:28
  I'm in Saint Louis. Where are you right now?
• 5:30
  Put it in the comments. We're all over the world and
• 5:34
  that's a big deal. We got a guy in a basement.
• 5:38
  Maybe he's in his basement. I don't know that for sure.
• 5:41
  But figuratively speaking, all of our basements are coming
• 5:44
  together. We'd love to talk about silver
• 5:46
  and gold. Let's get to let's go to Texas.
• 5:49
  Let's go to Texas. And by the way, what you see on
• 5:53
  the screen will be given away this Saturday, August 31st.
• 5:58
  Unfortunately, due to regulations, it's only open to
• 6:01
  U.S. citizens, but it's 16 ounces of silver donated from
• 6:06
  our friends at Pembacs that will be given away during the 10 AM
• 6:09
  live stream on Saturday. There's a a link in the
• 6:13
  description of this video that will help you explain to you
• 6:17
  very simply how how you can enter into that giveaway.
• 6:22
  It'll be this Saturday, August 31st and it will be at the 10:00
• 6:26
  AM. This was from yesterday.
• 6:28
  This guy says he lives outside Dallas Fort Worth area.
• 6:31
  He's been to a bunch of coin shops and he says he's finding
• 6:35
  that there's basically a, a limited supply, let's say of
• 6:41
  silver that's outside Dallas Fort Worth.
• 6:43
  We talked about this yesterday. Then I received this one he
• 6:47
  said. Nice comment.
• 6:48
  I live outside of Austin, TX in my local in my local coin shop.
• 6:56
  Never called me back after leaving a message of what I was
• 7:00
  looking for. That's the first time ever they
• 7:02
  never called me back. That tells me everything I need
• 7:05
  to know right there. It's starting to become a thing
• 7:08
  now. Never in my life would I ever
• 7:10
  see this. I was just a regular silver coin
• 7:13
  collector for years now. This is crazy and let's see our
• 7:18
  next comment. OK, we're going to talk about
• 7:21
  this later on, a recurring fear that a lot of you silver
• 7:25
  stackers have. But what we're hearing guys, is
• 7:28
  this OK? There is.
• 7:30
  I, I checked with Jake from Jake's Custom Parts last night,
• 7:33
  who who's knows people in Texas, there's silver in Texas, there's
• 7:38
  a lot of oil, there is silver in Texas.
• 7:42
  OK, number one. But what we're hearing and I
• 7:45
  heard this from coin shop Chris in a video he put out yesterday.
• 7:48
  And what we're hearing, I believe one of the a couple
• 7:51
  dealers down in, in the Southern United States is that there is
• 7:55
  an increasing shortage of 90% silver or an increasing wave of
• 8:01
  demand, which could lead to a shortage for 90% silver, junk
• 8:06
  silver, right? This stuff which we love, this
• 8:10
  came from Big 10 to Silvershire also, right?
• 8:13
  This is a pre 1964 silver for some reason that is becoming
• 8:19
  very popular and very difficult to acquire.
• 8:22
  So we're going to keep an eye on this trend.
• 8:26
  Now what we're, what we're also hearing and this all plays in
• 8:30
  together for a silver shortage is that India and China new new
• 8:35
  data came out about China. They're importing like twice as
• 8:39
  much silver per month. The the July data was the latest
• 8:43
  that I saw. I think it was.
• 8:46
  I'm on, wait a minute for it was double.
• 8:49
  I can tell you that kilograms, I don't know how many ounces.
• 8:52
  I don't even want to try to try to calculate it.
• 8:55
  We also know that India is set to import somewhere between 200
• 8:59
  million and 250 million ounces of silver this year.
• 9:04
  Bear in mind the entire mining sector will produce this year
• 9:09
  will produce 800 million ounces of silver and India is on track
• 9:14
  to import 25% of it. Think about this guys.
• 9:19
  We are in a new world. We are in.
• 9:21
  Think about back to the we're going to talk about $50 silver
• 9:24
  because we get this question from you all the time.
• 9:27
  Let me pull it up and then let's talk about $50 silver and why
• 9:31
  that's so important. This is from Xandan Shaw.
• 9:35
  Suppose I have 10 kilograms, 10 kilograms of silver and the
• 9:40
  price shot to $50.00 an ounce. Where do I sell it?
• 9:43
  Who will buy it? OK, We're going to get into
• 9:47
  that. That's such a recurring
• 9:49
  question, but I guess we need to keep talking about it.
• 9:52
  But $50 silver that we had back in 1980 and 1980 dollars, India
• 9:59
  and China were not even on the map when it came to economics.
• 10:03
  If they were a fraction of what they are now, we are in a whole
• 10:07
  whole new world. Who's going to buy that $50
• 10:11
  silver? OK, think about it.
• 10:14
  You own some silver, right? You own some gold as well.
• 10:18
  Gee, I wonder if when gold was $1200 an ounce not too long ago,
• 10:22
  people were saying if gold ever goes to 2500, who would buy it?
• 10:27
  What do you think? There's people willing to buy
• 10:29
  gold right now for $2500. Let's go check.
• 10:33
  Let's go check and then we'll talk about why you won't have to
• 10:36
  worry a lick about selling your silver at $50.
• 10:41
  Are you are you wondering about that?
• 10:43
  Are you worried about that? I'm going to set all your fears
• 10:45
  at ease, but let's go check on let's go check and see if
• 10:49
  there's anybody willing to buy gold for $2500.
• 10:53
  We're going to go out to pin backs channel sponsor here and
• 10:57
  we have gold. Oh, the gold current gold price
• 11:00
  2000. Let's let's update it.
• 11:02
  Everybody take a deep breath, $2516 per oz gold, silver
• 11:11
  $30.01. Man we are on a fight for $30.00
• 11:14
  with silver. Do you feel it?
• 11:16
  Silver stackers? I, I resend what I've said over
• 11:20
  the last few months, the $3234 range, if we can stay above 30,
• 11:25
  if we can continue to build this base at 30, there's no
• 11:28
  guarantees. We're going to be off to the
• 11:30
  races. We are going to be off to the
• 11:32
  races. But I'll tell you, we'll buy
• 11:34
  gold for 2500 right now. A lot of people everywhere, all
• 11:39
  over OK, the Comex will buy it, the LBMA will buy it.
• 11:44
  I guarantee you the Chinese people will gladly buy your
• 11:48
  gold. But so remember when we talk
• 11:50
  about $50 silver and people are concerned about who would buy
• 11:55
  it, let me first say thank you to channel sponsor Pembex.
• 12:01
  We are here on their website. Yes, we are Pi, MB, EX.
• 12:07
  If you want to get your hands on some $30 silver right now,
• 12:11
  that's the roughly the spot price.
• 12:13
  Want to buy silver at that spot price?
• 12:15
  Just do yourself a favor, compare what PMBEX can do for
• 12:19
  you to the other big online bullion dealers.
• 12:22
  Really, I don't need to say much else, but I can tell you that
• 12:25
  I've worked with PMBEX over the last year.
• 12:28
  Plus on a personal basis, I've had great experience.
• 12:31
  You know, I'm very frugal. I'm very, I always want to get
• 12:35
  good value and I'm always getting what I feel is the best
• 12:39
  value. With Pymbez, it's the magic
• 12:42
  combination of ultra competitive pricing, great selection and a
• 12:46
  company, and this is very important, a company that I
• 12:49
  really can trust. I really, I know in my heart and
• 12:53
  I feel 100 percent, 100% confident recommending to you
• 12:58
  to, to consider them OK to give them a chance because I know
• 13:03
  that they are a great group of people and a great reputable
• 13:06
  company. If you ever please, please, I'm
• 13:10
  going to beg you. If only one person benefits from
• 13:13
  this next message, it's worth me taking 20 seconds to say it.
• 13:17
  If you ever go ever decide that you want to convert part or all
• 13:21
  of an IRA into precious metals, take your time.
• 13:25
  Don't get high pressured by anyone.
• 13:27
  Please. Please remember what I just
• 13:30
  said. Don't get high pressured by
• 13:33
  anyone. Shop around and please consider
• 13:37
  what pin backs can do for you with an IRA conversion as well.
• 13:41
  I think you'll find that they can get you an extraordinary
• 13:45
  more amount of actual ounces of silver and gold as compared to
• 13:49
  some of the other options out there, but you need to find that
• 13:52
  out for yourself. So $50 silver, everybody's,
• 13:55
  everybody's worried. I could never sell my silver at
• 13:59
  $50. I remember back when silver was
• 14:02
  $15.00 an ounce. And you know what everybody was
• 14:05
  saying back then, What if silver ever goes to 30?
• 14:09
  Who's going to buy my silver? Well, guess what, guys?
• 14:12
  We're at 30 and there's a lot of people you would gladly buy your
• 14:18
  silver right now for $30 per oz. It's a market.
• 14:23
  The only way that silver's gonna get the $50.00 an ounce is if
• 14:28
  people are buying it at $50 per oz.
• 14:31
  Think about it. It's a market.
• 14:33
  If nobody's buying it at 50 or if it goes to 60 and nobody's
• 14:38
  willing to pay 60 to buy silver, well then it'll drop to 55, OK.
• 14:43
  And if people are willing to buy it at 55, that's where the price
• 14:46
  will stay. And if more people want to buy
• 14:48
  it, then the price will go back up to 60.
• 14:51
  But if nobody wants to buy it up there and then nobody wants to
• 14:54
  buy it at 55, then it'll go to 50.
• 14:56
  That's the way that markets work.
• 14:58
  OK. So don't worry about being able
• 15:02
  to and you don't really want to cash your just my opinion.
• 15:05
  You don't really want to cash your silver in any way.
• 15:09
  You want to convert it into another real asset.
• 15:13
  You don't want to turn. Imagine it's a miracle.
• 15:16
  Are you ready for a little? Are you ready for some miracles?
• 15:18
  OK, this is a miracle to me. Unbelievable that you can
• 15:23
  convert paper into real, legitimate metal.
• 15:29
  Look how pretty that is, how real that is.
• 15:31
  Trust me, it's pretty, right? You can convert this into this.
• 15:35
  Do you want to con? Do you?
• 15:36
  Would you want to trade this? You do not want to trade this
• 15:41
  for this unless you have a bill to pay, and I'd never recommend
• 15:45
  that you invest in physical silver with money that you think
• 15:48
  you'll need within a relatively short time frame.
• 15:52
  You want to at. The only thing you want to do
• 15:54
  with this, OK is convert it into another real asset, right?
• 16:01
  Maybe a stock in a company that owns other real assets, Oil
• 16:06
  fields, farmland, gold mines, silver mines, whatever the case
• 16:11
  may be right but you don't want. Or maybe you can convert this
• 16:15
  into gold or platinum or some other real asset.
• 16:20
  You don't want to convert it into paper.
• 16:23
  No, no no no no. OK if coin shops.
• 16:27
  This is interesting. Someone brought this to my
• 16:30
  attention. Let's say silver goes to $65 per
• 16:34
  oz and the coin shops are like Oh no, no more.
• 16:37
  Well, I don't want to buy it. I won't buy it.
• 16:38
  I'm not buying not buying. If the coin shops stop buying
• 16:43
  OK, or the retail are the are the the people that are that are
• 16:48
  that are that wholesale the metals stop buying.
• 16:51
  That will further decrease the amount of supply on the market.
• 16:56
  And wouldn't that only drive the price higher?
• 17:00
  Yes, it would, right, If there's less supply.
• 17:03
  So if we do get into a situation where people were in and it's a
• 17:07
  market, right, not everybody's going to stop, but but a
• 17:10
  percentage of the buyers stop buying silver, wouldn't that
• 17:14
  create a situation where there's less supply?
• 17:18
  And when there's less supply, the only way to fix that price
• 17:23
  fixes everything in markets. Silver is a market, Yeah, the
• 17:29
  COMEX is over there messing with a little bit over the years.
• 17:33
  But at the end of the day, as we are talking about silver and
• 17:37
  gold, we're going to hone in on silver as one of the oldest
• 17:41
  markets in the world, oldest and biggest, right, spread out more
• 17:47
  around the world than anywhere. Consider the fact right that the
• 17:53
  silver market, I think is probably one of the biggest
• 17:55
  markets in the world. If you talk about the number,
• 17:59
  sheer number of participants that participate in the silver
• 18:04
  market, there are hundreds of millions of market participants
• 18:10
  in India alone. Farmers buy silver every year.
• 18:14
  There are probably hundreds of millions of participants in the
• 18:17
  silver market in China right now because the Chinese government
• 18:21
  is encouraging the Chinese citizenry to buy silver.
• 18:26
  How many do you think millions are in the United States market?
• 18:28
  Maybe 5 million. There's all different estimates.
• 18:32
  OK, maybe 10 million, maybe 2 million, who knows?
• 18:35
  But the, the, the fact remains that if you are going to measure
• 18:39
  a market by sheer number of, of market participants, I'm I, I'm,
• 18:44
  I'm challenged to think of any other market that has so many
• 18:49
  participants. OK, so if those coin shops stop
• 18:53
  buying and people still want silver, right, the wholesalers
• 18:57
  stop buying, the supply is going to go down, then the price will
• 19:01
  go up. And then you know what those
• 19:02
  wholesalers will say? They'll say, you know what, we
• 19:06
  changed our mind. We think we'll buy your silver
• 19:09
  now, even at $70.00 per oz. All right.
• 19:17
  We just talked about how the silver market is probably bigger
• 19:20
  than any other market. But on top of that, the other
• 19:25
  critical thing for us to remember is it's also very
• 19:29
  delicate and very sensitive, OK? I've shared with you, I've
• 19:34
  opened my heart and told you that I'm a very delicate,
• 19:37
  sensitive person. But I think the silver market
• 19:40
  has me beat, OK? Because when the rush of money
• 19:44
  does come in, silver has a silver's like the, the, the,
• 19:50
  the, the, the little sister or little brother that throws hissy
• 19:54
  fits. The silver market will throw a
• 19:56
  hissy fit. And when the silver market
• 19:59
  throws a hissy fit, that's why it moves so explosively.
• 20:06
  Anyone who's been involved in. Right, Or has observed the
• 20:12
  silver market over the decades will tell you when silver moves,
• 20:18
  it just doesn't make little moves, right?
• 20:20
  It doesn't just move out of mom and Dad's house.
• 20:23
  It moves out of Mom and Dad's house and moves 3000 miles
• 20:26
  across the country or around the world, around the world.
• 20:31
  Silver. Right.
• 20:32
  Silver moves out of the house in Saint Louis with Mom and Dad and
• 20:36
  moves to Rome, Italy and does it unexpectedly?
• 20:40
  Does it suddenly all of a sudden, like did you hear?
• 20:42
  Did you hear what silver did? Yeah.
• 20:44
  Silver took off. OK.
• 20:46
  That's the silver market. It is.
• 20:49
  It is while it is while it is the biggest market in the world,
• 20:54
  in my opinion. And prove me wrong.
• 20:57
  I could definitely be wrong about that.
• 20:58
  So please, you're welcome to prove me wrong, but I believe
• 21:01
  it's the biggest when it comes to participants around the
• 21:04
  world. It's also from a Fiat Unicorn
• 21:08
  fart dust, right? This stuff.
• 21:11
  Look what's floating across the screen, basement dwellers.
• 21:14
  It's also from a dollar perspective, very small.
• 21:19
  I mean, what is it? I mean, it's like the, the, the
• 21:21
  total. I mean, to buy all the world's
• 21:24
  production of silver, let's say a billion oz a year will be
• 21:29
  produced this year would take about $30 billion.
• 21:33
  OK, That's, that's like a pimple on the butt of Apple Computer or
• 21:38
  Samsung Electronics. I mean some of these, some, a
• 21:41
  lot of publicly traded companies in the United States are bigger
• 21:46
  than the entire value of the silver market.
• 21:49
  I mean, we have companies that could buy up the entire year's
• 21:53
  worth of silver. So it can move hugely because
• 21:57
  while it's thinly spread out with a record number of
• 22:01
  participants, the actual dollar value when those dollars come
• 22:04
  back in. And let me show you visually
• 22:07
  what I mean by that. Let's go take a look at this.
• 22:16
  That's not it. That's the cup and handle.
• 22:18
  Oh my gosh, right. The the biggest, strongest chart
• 22:22
  pattern in the history of the world, they say this is this is
• 22:27
  not what we were going to talk about.
• 22:28
  We're going to talk about, OK, that right there that you're
• 22:31
  looking at the cup and handle and silver.
• 22:34
  People are calling it like in the history of economics and the
• 22:40
  history of money and the history of markets, probably the most
• 22:44
  appropriate word. That is the most beautiful, epic
• 22:50
  textbook cup and handle pattern that the world has ever seen.
• 22:54
  Now, don't forget, you look at the cup, right, 1980 to 2011.
• 22:58
  You look at the handle which we're in now, that handle
• 23:02
  extends above $50.00 and yes, goes to $100 or higher per
• 23:06
  month. Now back to why there's another
• 23:10
  for those of you that didn't visualize the last one.
• 23:12
  There's the cup and there's the handle.
• 23:15
  Little bit better representation we're going to go through there.
• 23:18
  That was the wedgie and silver. There's Gold Cup and handle
• 23:23
  dollar. There's the price of silver in
• 23:24
  Argentina. Oh, did you notice that the
• 23:26
  price of silver in Argentina is up?
• 23:28
  Like, I don't know, 28 million percent?
• 23:33
  There we are. OK, guys, This is why this is
• 23:38
  something that we, we cannot forget about.
• 23:41
  We need to review on a weekly basis, Gold and silver.
• 23:45
  This is extras pyramid. John Extra, who worked for the
• 23:47
  New York Fed, only died about, I don't know, 20 or 25 years ago.
• 23:51
  He put this together. He, in this, somebody from the
• 23:55
  Fed claimed that the silver and gold were the base of all
• 23:59
  monies. Everything above silver and
• 24:02
  gold, starting with the green base money, bank money, bonds,
• 24:05
  corporate bonds, debt, all of that is debt.
• 24:09
  Everything above gold and silver is synthetic.
• 24:12
  It's debt. It's all make believe, OK?
• 24:15
  It's all based on confidence in a con game.
• 24:19
  So when just a little bit of this money, right?
• 24:21
  And I would even include the stock market, the stock market's
• 24:24
  the biggest con Ponzi scheme going right now with or what do
• 24:28
  they call that institutional trading, like the index funds,
• 24:32
  the ETS that just track the the the blindly track the nobody,
• 24:37
  Nobody really does any research. It's just like, I'm going to buy
• 24:40
  that and it'll go up and I'll sell it to somebody else.
• 24:43
  When just a little bit the real estate market, which I won't
• 24:46
  really put up there, but you could put the real estate that
• 24:49
  one a little tiny hair, 1% if 1% of all of that above right base
• 24:56
  money, bank money, corporate debt, corporate municipal debt,
• 25:02
  all of that derivatives. This one even has crypto in it.
• 25:06
  Don't get mad at me. I'm just going to leave that
• 25:08
  subject alone. But nonetheless, if 1% of that
• 25:11
  money were to leave and look for a new home, it's going to go to
• 25:15
  gold and silver and it's going to have an impact on the gold
• 25:18
  and silver market like you have never, ever, ever seen before.
• 25:24
  OK, let's go check out. Let's go check out a great tweet
• 25:34
  from Peter Sweena. Peter Spena.
• 25:37
  I'm sorry, that's Sweena Spena. He's the guy that runs gold seek
• 25:42
  silverseek.com. He's very well super respected
• 25:46
  smart guy. He brought up a great point
• 25:48
  buying silver here. OK, right now if you and I buy
• 25:51
  silver even at $30 while gold is soaring past 2500 is like
• 25:58
  getting to buy gold when it was 1000 or 1500 per oz.
• 26:03
  What he is saying, OK, and he's he's a both a gold and a silver
• 26:06
  guy is if you look at this chart from goldseek.com, the gold to
• 26:12
  silver ratio still as of his tweet was at 85 S.
• 26:18
  Our ability from a gold to silver relationship,
• 26:22
  historically speaking, in his opinion, the ability to buy
• 26:26
  silver today at $30 is very similar to being able to buy
• 26:31
  silver, gold today at 1000 to 1500 per oz.
• 26:37
  OK, hey gold, let's switch back to gold here for a second.
• 26:43
  It's getting no attention, so we need to bring it to our
• 26:46
  attention. The gold price.
• 26:47
  Last week the spot price closed at another all time high.
• 26:52
  Yesterday the gold spot price closed at another all time high.
• 26:57
  If you heard, what does this tell us when the smartest guys
• 27:01
  in the room are buying gold? Yeah, we know the central banks,
• 27:04
  the insiders, the people that rule the monetary world, That's
• 27:07
  not what we're talking about. Hedge funds are now more net
• 27:11
  long on gold. Hedge funds, that's where you
• 27:14
  got to be really rich to invest in a hedge fund.
• 27:17
  All right? Hedge funds are now more net
• 27:20
  long gold than any other time since 2020.
• 27:24
  Since when the Federal Reserve, like did these emergency rate
• 27:28
  cuts? What is that telling us?
• 27:31
  What does it tell us when we hear Peter Spina point out the
• 27:35
  fact that buying silver right now, it's like getting to buy
• 27:39
  that gold at 1000 to $1500 per oz.
• 27:43
  All right, Asia led the charge. That's a fact.
• 27:47
  OK, The Asians led the charge this year in the silver and gold
• 27:51
  market. I was listening to Randy
• 27:54
  Smallwood, the guy that runs wheat and precious metals.
• 27:57
  He's also was the head of the World Gold Council pointed out
• 28:01
  something that most of us probably haven't thought about.
• 28:05
  But earlier this year, Asia led the charge in the precious
• 28:08
  metals. But guess what?
• 28:10
  Guess who's catching on now? It's the Western investor
• 28:13
  starting to show up. We have, we have, we just got
• 28:16
  this information breaking news that the hedge funds are now
• 28:20
  more net long on gold and we also know that ETF inflows are
• 28:25
  up and the mining stocks are sharding starting.
• 28:32
  We don't chart here in the basement starting to show signs
• 28:38
  of life. It's happening.
• 28:41
  Think about this, what is it telling us?
• 28:43
  We might be, you might be wondering like, oh, we're gold
• 28:47
  because there's a possibility that gold and silver could go
• 28:49
  down through the end of the year.
• 28:51
  Always a possibility, right? I don't think it will.
• 28:54
  I think we're going to see 44 dollars silver by Christmas.
• 28:57
  I've made that prediction. I'll stand by that prediction.
• 29:01
  But what is it telling us now that we have the hedge funds
• 29:05
  buying that long and on top of that we have ETF inflows in the
• 29:10
  West? That means more money going into
• 29:15
  the silver and gold ETFs. That means those ETFs need to
• 29:20
  buy physical gold and silver. That is if the good people at
• 29:25
  BlackRock that run them do what they purport that they do in
• 29:30
  their communications with their investors, that they actually
• 29:32
  use that money to buy physical metal.
• 29:35
  None the less, it's a great sign that we have ETF inflows going
• 29:39
  on right now. And it all comes down to the
• 29:43
  dollar. This is fascinating.
• 29:45
  This is interesting. A new, a new concept for us to
• 29:47
  think about is precious metals investors, right?
• 29:50
  The new little light bulb to add to the growing list of light
• 29:54
  bulbs that you have going on in your in your mind.
• 29:57
  OK. It comes down to the dollar,
• 29:59
  because we measure gold in in dollars and the dollar is weak,
• 30:04
  the dollar is weakening. We talked about this from 2001
• 30:08
  to 2011. The dollar went down in value.
• 30:12
  The dollar's in the market, it goes up and down, right?
• 30:15
  In the world forex markets, the dollar goes up and down, period.
• 30:20
  The dollar's going down. We measure the price of metals
• 30:24
  in dollars and think about this. There's no other alternative for
• 30:30
  people to run to, not just here in the United States of America,
• 30:35
  but all around the world. The dollar because of the US
• 30:39
  hegemony since 1971, right? The dollar has been king of the
• 30:46
  world. So the king is, is in bad shape.
• 30:50
  Everybody knows it. Everybody can, can go to the US
• 30:53
  debt clock and see like, oh, this doesn't make sense, right?
• 30:57
  I mean, your general, you know, I know your average American
• 31:01
  could care less, but guess what, right?
• 31:04
  The people in Saudi Arabia, the people in China, India, Brazil,
• 31:09
  all around the world, they know they are moving away from the
• 31:12
  dollar. The dollar is going down in
• 31:15
  value. The dollar is how gold is
• 31:18
  measured, right, on a mainstream basis.
• 31:22
  But here's the incredible thing to think about.
• 31:26
  There's nowhere else for people to run to.
• 31:30
  It's becoming a battle between gold and the dollar.
• 31:34
  This is new. This is breaking.
• 31:36
  All right, This is, and this is exclusive for you, Ron's
• 31:40
  basement. It's a it's a, it's a battle
• 31:43
  between gold and the dollar, gold and silver and the dollar.
• 31:47
  It's not, there's no other thing.
• 31:49
  This is here. I can do it visually.
• 31:52
  It's a battle between where'd it go?
• 31:56
  Here it is. Think of this gold.
• 31:58
  It's a battle between the dollar and precious metals.
• 32:02
  OK, and guess what? There's no other place for
• 32:07
  people to go. There's no other competing
• 32:10
  paper. Unicorn fart does.
• 32:12
  Sure, they can go to the euro, or they can go to the yen or the
• 32:15
  Japanese yen. That'd be a real good idea.
• 32:17
  No, it it's the dollar or gold and it's coming to the forefront
• 32:23
  and they're not going to go to the Chinese yuan and they're not
• 32:25
  going to go to the Russian ruble.
• 32:27
  They're going to go. They get to choose.
• 32:28
  Do you want to choose between the dollar?
• 32:31
  This is big, guys. Let this sink in.
• 32:35
  The world can really, for all intents and purposes, choose
• 32:40
  between the dollar or precious metals.
• 32:44
  And we know absolutely without a doubt that the world is choosing
• 32:50
  precious metals. It's happening.
• 32:52
  It's happening right now. I'd like to take a moment to
• 32:54
  thank our other channel sponsors, very important first
• 32:57
  mining gold, Canadian Gold Development company.
• 33:01
  They've already explored, there's been, they have two
• 33:04
  massive multi million ounce projects in Canada.
• 33:08
  The gold's there, it's in the ground.
• 33:10
  It's not like they're trying to find gold.
• 33:11
  They know it's there. They are now in the permitting
• 33:14
  process. You can learn more about them at
• 33:15
  firstmininggold.com. Fortuna Mining is a producing
• 33:19
  gold and silver company with major operations successful in
• 33:25
  Latin America and West Africa. Jorgenosa is one of my favorite
• 33:30
  CE, OS and the whole precious metal sector.
• 33:33
  You can learn more about them at Fortuna mining.com.
• 33:36
  I'm not offering financial advice, but the gold and silver
• 33:39
  mining stocks do, in my opinion, present an unbelievable value
• 33:45
  opportunity right now as we speak, OK.
• 33:50
  I don't see any other sector out there that has the value
• 33:54
  prospect and gold and silver. Remember, when these gold and
• 33:56
  silver mining stocks start to take off and get some attention,
• 33:59
  that's going to be good for gold and silver as well.
• 34:03
  The other thing, the other major catalyst, big catalyst.
• 34:06
  Do you do you think about like what are the big what are the
• 34:09
  big events that could happen that could really propel silver
• 34:13
  and gold higher? There's a lot of them I know,
• 34:18
  but one of which will be when they turn the printing presses
• 34:22
  back on. Look, this guy, he is in big,
• 34:25
  big trouble. Hold on one second.
• 34:27
  Let's he is in big, major trouble right now.
• 34:37
  His name is Jerome Powell. He runs the United States
• 34:41
  Federal Reserve. His mission is to keep
• 34:44
  unemployment low and something else.
• 34:48
  Unemployment low. Oh yeah, and inflation to 2%.
• 34:50
  He's only trying to steal 2% of your money per year.
• 34:53
  When that when that nice man turns back on his printing
• 34:58
  press, OK, that will be another major catalyst for the silver
• 35:04
  and gold price. And it is only a matter of time.
• 35:08
  There's no magic tricks they can do at some level, at some point,
• 35:14
  the printing press comes back on.
• 35:17
  It's the only trick they know. It's the only thing they can do
• 35:21
  to stop the the, the, the implosion right of the US
• 35:26
  economic system. At this point, I don't please
• 35:32
  tell me what else can they do Either the whole system implodes
• 35:36
  or they turn on the printing press, right?
• 35:39
  And that means the value of silver and gold will skyrocket.
• 35:43
  What? What's up here?
• 35:44
  Let's this is this is the scary part of the show.
• 35:47
  Let's talk about the Great Depression because when the
• 35:50
  Great Depression comes back, if it comes back, OK, Oh boy.
• 35:55
  And we're going to talk about this two in a minute, guys.
• 35:57
  Big news this week, short term catalyst.
• 36:00
  This is the financial calendar. We're going to come back to that
• 36:04
  big news this this week. They could really also be a
• 36:07
  catalyst for for the silver and gold price Here we have from
• 36:13
  zero hedge today's economy here. Wait, wait, wait, wait.
• 36:16
  Oh, here we are. Are we headed for another Great
• 36:19
  Depression? This is fascinating.
• 36:22
  Today there's a great wage and wealth disparity, just as there
• 36:27
  was in the late 1920s. The, the, the, the, the
• 36:30
  distribution of wealth and income in the United States is
• 36:34
  at record bad levels. You know, it's really good to be
• 36:38
  really rich in the United States right now.
• 36:41
  Everybody else has pretty much been screwed.
• 36:44
  This is the interesting part. Recent energy consumption growth
• 36:47
  has been low, OK, just as it was in the 1920s.
• 36:52
  And then they go on to say, so let's we're only going to talk
• 36:55
  about this one paragraph. What this whole article talks
• 36:58
  about, and a very, very pertinent thing it brings up is
• 37:01
  that despite the fact that everything is supposed to be so
• 37:04
  awesome out there, when you look at overall energy consumption,
• 37:09
  it is down, which tells us that we could have an economy that is
• 37:14
  grinding to a halt. The best way to think about this
• 37:17
  guy's is if there's, if the whole world were a town of 10
• 37:22
  people, OK, and, and we all used U.S. dollars and there were only
• 37:27
  a hundred U.S. dollars. The, the Fed hadn't printed a
• 37:30
  bunch of there was a hundred U.S. dollars that the whole town
• 37:33
  of 10 people had to use to conduct trade with each other.
• 37:37
  And there was one guy who had 99 of those dollars and everybody
• 37:42
  else had had a had a dime each. At some point everybody gives
• 37:46
  up. They can't, you know, they
• 37:48
  can't, they can't, they can't buy energy, they can't buy
• 37:52
  anything. And and really that is
• 37:54
  essentially closely to what we're approaching today.
• 37:58
  OK. The other big thing is in red.
• 38:00
  A significant difference today is that the debt level of the US
• 38:05
  government is already at an extraordinarily high level.
• 38:10
  Adding more debt now is fraught with peril.
• 38:14
  We're already screwed because of all the debt that we have.
• 38:18
  OK, right now where we are, OK, if we go into a depression and
• 38:23
  they have to have to have to do what they did during the during
• 38:26
  in, in what was that 2020, Frank?
• 38:29
  40% more dollars. The spiral becomes even more
• 38:34
  accentuated. The bottom hits sooner and we go
• 38:37
  back to that extras pyramid we talked about later where people
• 38:41
  are running for the doors. OK.
• 38:43
  It happened in China, just here in the last few years, which is
• 38:47
  a big reason why we've got the gold price and the silver price
• 38:50
  going up so much higher. The other thing we'll look at,
• 38:54
  you're looking to get an RV. Now is the time.
• 38:57
  And what's important about this is that they're saying the RV
• 39:01
  downturn, the recreational vehicle downturn has turned
• 39:04
  apocalyptic with largest dealerships offering 55%
• 39:10
  discounts. Look at the this is the sales,
• 39:16
  yeah, this is the sales of one of the biggest RV companies,
• 39:19
  Lazydays Holdings. If you go back to that's the
• 39:25
  peak around what, Q2 of of 2022, it is just collapsing, crashing.
• 39:32
  What does that tell us? That's discretionary purchases.
• 39:36
  That's people that and there's a wide range of people who buy
• 39:40
  recreational vehicles, no doubt about it, right.
• 39:44
  But what that's telling us is that's a discretionary, that's a
• 39:47
  luxury type item. People don't have the money and
• 39:52
  we have a crash going on right now in that sector.
• 39:56
  It's only going to get worse, OK?
• 39:58
  It's only going to get worse. All right, All right, guys,
• 40:02
  thank you for being here. Thanks for being part of the
• 40:04
  base and thank you to the moderators.
• 40:06
  OK, Jake from Jake's Custom Parts.
• 40:08
  Annie Oakley, Big Tim The Silvershire Susie Silver.
• 40:12
  Silver Susie. You know her, my beautiful.
• 40:15
  Wife, most importantly, thank you.
• 40:17
  Please subscribe to the channel. Please give this a thumbs up and
• 40:23
  please or thank you for the Super chats.
• 40:25
  Have a great day. It's going to be interesting,
• 40:28
  guys. Hey, whoa, whoa, whoa, whoa,
• 40:29
  whoa, whoa. Those of you I know I was
• 40:32
  wrapping it up. Let's go check.
• 40:34
  OK, let's go check. It's been about 1/2 hour since
• 40:37
  we checked the gold and silver price and it's down from where
• 40:41
  we were. Oh well.
• 40:44
  Hey, it'll be back. OK.
• 40:47
  I want you to be back. Please come back to the
• 40:49
  basement. You're welcome here every time
• 40:51
  and I will see you guys soon. Bye.
• 40:54
  Bye.