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Costco Canada's Shiny GOLD Surprise & USA's Wealth Disparity Crisis! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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  For the next little bit of time, you're in the basement.
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  We call ourselves Basement Dwellers.
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  I'm glad you are here. You are the most important part
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  of Ron's Basement. You're the most important part
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  of a lot of things. So give yourself a little pat on
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  the back. And if you want to do something
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  nice, give this a thumbs up. That helps us get the word out
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  to more and more people. Well, let's talk about Canada
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  and Costco. The Costco thing was A and the
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  best word I can think of is catalyst, but there's got to be
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  other a sign, a Canary in the coal mine, right, that that what
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  we are seeing in the metals market that it's changing.
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  Let me read this to you. This is about Canada and Costco
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  from CBC. Costco now sells gold bars.
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  This is in Canada, but are they a good investment?
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  So let me tell you, this is great.
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  This is typical what silver and gold investors deal with.
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  It's a great article about how Costco Canada is selling gold
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  and how people are buying gold and it tells the price of the
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  gold, you know, doesn't say anything about silver yet, but
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  it's talking about gold. But then then it turns into a
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  hit piece. Then they start putting you
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  down, OK, if you're a gold investor, a silver investor, he
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  said. Gold is an awesome.
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  Gold is awesome for people who have really unstable currencies,
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  right? Well, that would be everybody,
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  my friend. This is Will Huggins.
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  He's an associate professor. Oh, he's in academia of finance
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  and economics at the McMaster University's to Gruti School of
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  Business. So it's good if you have an
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  unstable currency and can and can represent an attractive
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  stable investment because then he goes on to say it's just not
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  a real problem we have in Canada, right?
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  Like we don't, we don't have that problem here.
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  We have a real stable good currency.
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  I don't know is your currency in Canada lost any value.
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  I think it has gone. I look at the exchange rate
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  here, he said. He said it's not like a herd of
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  cattle or some land or a corporate entity.
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  It's just a yellow rock, that's all that is right?
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  So this this turns into a hit piece.
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  Most part, the reason people buy gold is because they've been
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  told the same story We all heard as a kid that gold was a hedge
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  against inflation. And as a result, when we start
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  to see the ghost of inflation rising back up after 40 years,
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  people think I should buy some gold.
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  OK, Michael, thanks. So pretty much anybody who can
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  sell gold is able to tap into people who have these fears,
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  inflationary fears. Then he talks about how it's
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  people in their 70s and 80s that are really scared and and
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  falling for this, you know, gold trick.
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  I don't know. So buying gold is mostly done
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  because people are afraid, not because it's been a great asset.
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  No, it's been not a great asset over the last thousand years.
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  No, not at all. It hasn't done anything in three
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  years. It's the same price.
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  It was, you know, two months into the pandemic.
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  Anyway, I just thought that was interesting that again, you
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  know, we get a story about people buying gold and then of
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  course, that's from the Canadian Broadcasting Corporation.
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  They have to. They have to smash down gold.
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  We'd like to thank our sponsor First Mining Gold.
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  They're a Canadian gold developer with two world class
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  projects in Canada. They also have a handful of
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  other projects. When you total up all the gold
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  in their resources, it comes to over 12 million oz.
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  They're worth checking out. I'll put a link to the company's
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  website in the description below.
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  I went to a high school called CBC, Christian Brothers College.
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  High school here in Saint Louis was all boys.
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  They wouldn't let me go to a school that had girls in it when
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  I was in high school. Anyway, one of the Christian
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  Brothers came to our school one time and he, he came into our
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  one of my classes and he gave this talk and he talked about,
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  I'll never forget it, about the distribution of wealth in the
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  United States. And this was in the mid 80s, OK.
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  Then he talked about how crazy it had gotten before the Great
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  Depression. I don't know why he came in and
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  talked to us about that. But now we don't it we are at
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  the most absurd levels of the wealthy having more assets than
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  the poor. This is a mind blower.
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  This is, this is a mind blower. And I think it could indicate to
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  us historically it's kind of like that money supply shrinking
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  thing. Historically when wealth
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  distribution has become this out of whack and unfair, unfair that
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  has has created major economic problems.
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  Because guys it's like think about this.
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  It'd be like if I have a poker game and invite invite you over
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  to my house and you and nine of your buddies show up and you all
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  are like, yeah, I got $100, I got $120.00 and we come and we
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  sit down, we start playing poker and I pull out a stack of
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  100,000. You guys are going to be like,
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  I'm not playing this game. This is rigged.
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  This is not going to work. He's got Ron's got 100K and we
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  all have 100. Listen to this, listen to this
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  statistic because it's a sad commentary on what's going on in
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  this country right now. I'm going to use my bedroom
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  voice, OK, the top .1. And I'm going to give you an
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  example from these numbers that will blow your mind.
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  The top .1%, not 1% point 1% of Americans own 11.4% of the
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  country's assets, so the we'll say 11%.
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  The poorest 50% of Americans own just 6% of the assets, so so .1
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  percent is 1 in 1000. If you're looking to buy gold,
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  silver, or platinum, do yourself a favor and check out PIM Becks,
• 6:23
  the online precious metals bullion dealer and sponsor of
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  Ron's Basement. I was a happy customer before
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  they offered to support the channel.
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  You'll find they have the best prices, quality and service.
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  I think Pembex is best, and you will too.
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  And be sure to tell him that you're from Ron's basement. 1%'s
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  one in 100.1 percent is 1 in 1000.
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  So one person out of every thought get Let's just take a
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  thousand Americans, OK? We're going to line them up or
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  put them in a room together. There's one guy.
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  OK? There's one guy who owns almost
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  twice as much. One guy out of 1000 owns twice
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  as much as the poorest 500 people in that room.
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  OK, It doesn't work. OK.
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  I'm sorry. And it's a sad commentary on
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  what's going on in this country. We have, we, we.
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  You don't. And you're not going to hear
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  about that on the Today show or on the Children's News Network
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  because you know why that point 1%.
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  They control the media. They don't want people to know
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  that that's the case. That's an absolute fact.
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  But what more important when it comes to this, what does that
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  mean for precious metals, silver and gold?
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  It's like the snake eating their own tail, their greed and hubris
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  at the top, right? Eventually they wind up shooting
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  themselves in the foot, figuratively, OK, and the system
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  crashes because people just give up.
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  And we're seeing that already. Think about this, right?
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  Welcome to October of 2023. If you have student loans,
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  you're supposed to be paying them back.
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  But like 44% of people who were surveyed, they said I can't
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  afford. I'm just not going to pay them.
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  I'm just not going to pay my student loans.
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  And I wouldn't be surprised. I'm not saying it's right and
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  wrong or anything else, but even with credit cards and car
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  payments, people are just like force majeure.
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  I give up. I can't do it.
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  It doesn't make any sense.