Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚡SILVER Price!⚡- Did You PREPARE!...(The Truth and Gold Price Too)

Transcript

⚡SILVER Price!⚡- Did You PREPARE!...(The Truth and Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  All these other currencies and more that just simply do not
• 0:04
  exist anymore because they were all debt based government backed
• 0:10
  currencies. And so this is not me telling
• 0:14
  you that the true value of this stuff is 0.
• 0:18
  This is the Federal Reserve whose job it is to regulate the
• 0:24
  rate and speed of inflation. And when they lost that control
• 0:29
  with all of this money print, somehow they don't know what
• 0:32
  creates inflation. They.
• 0:37
  Today we're joined by Lynette Zhang.
• 0:40
  Lynette, welcome to Ron's basement.
• 0:42
  Ron, thank you so much for having me.
• 0:45
  I really appreciate it. Well, you are certainly a very
• 0:48
  popular figure within the silver and gold community, and I can
• 0:52
  tell you from the Ron's basement, basement dweller
• 0:54
  community, people are always asking me to have you back on
• 0:57
  the show. So it's a big honor.
• 1:01
  It, it's a big honor. Now you and I, one of the first
• 1:04
  times we talked, I, I, I will never forget this.
• 1:07
  I asked you, why do things feel like they're so crazy right now?
• 1:12
  And you said that's because we're getting to a tipping
• 1:16
  point, We're getting to the end. Do you think that's still the
• 1:19
  case, Lynette? I think we're closer today than
• 1:23
  we were when we had that conversation.
• 1:26
  Yes. Just look around you at the
• 1:29
  craziness that we have in the political system, in the
• 1:32
  geopolitical system, in the inflation system, you know, Yes,
• 1:37
  I'm, I'm there is really no doubt in my mind where we are in
• 1:41
  the monetary velocity. Yes, Yeah.
• 1:44
  And it, and it feels like my fellow Americans, many of them
• 1:48
  are just asleep and, and don't even realize that this is going
• 1:52
  on, just kind of living in, would you almost say like a
• 1:55
  fantasy world or, you know, I mean, I guess maybe that's why
• 1:59
  we can feel or I can feel, I can't speak for you a little
• 2:02
  crazy at times because everybody else just walks around like
• 2:05
  everything's great. But I, I, you know, when you
• 2:07
  look at the facts of like the list you just mentioned, it's,
• 2:10
  it can be a little scary at times.
• 2:13
  Which is why people just really, you know, want to bury their
• 2:18
  head in the sand and say, la, la, la, la, la.
• 2:20
  It's happening. But in reality, ignorance
• 2:24
  doesn't make you immune. It just leaves you vulnerable.
• 2:28
  And I think that's why people are always surprised at this
• 2:32
  next event where I may be shocked that it happened at that
• 2:37
  moment, but I am not surprised that any of this is happening.
• 2:41
  Yeah, Yeah, you've, you've seen it coming.
• 2:43
  Have you seen this building over a number of decades in your in
• 2:46
  your opinion? In reality it has been building
• 2:51
  since 1913 and then a big shift in 1971, but particularly in
• 2:58
  2008. For me, not one little teeny
• 3:02
  weeny doubt. In my mind, that's when the
• 3:04
  system really died and that's when all they have left this and
• 3:11
  they could just keep going and going and going and going and
• 3:14
  going into hyperinflationary depression, which is I believe
• 3:19
  has already started. Which is where we're going.
• 3:23
  So, so, so 1913 was when the Fed was established.
• 3:26
  You said it kind of started with that. 1971 was when Nixon took
• 3:30
  us officially off the gold standard. 2008 seemed like
• 3:35
  instead of dealing with really dealing with the problems that
• 3:38
  we had right, and maybe taking some pain and maybe having some
• 3:41
  consequences, the Fed took the easy route and, and used your,
• 3:45
  your money, your money printing machine.
• 3:49
  You know, it has the Fed become I, I can't think of a better
• 3:52
  word to describe this, but is the Fed become impotent?
• 3:55
  Is the Fed become have they lost their, have they, have they shot
• 3:59
  all their bullets, their real ammunition?
• 4:02
  And are we at a point now where where devaluation of the dollar,
• 4:08
  which to me is just another way to say hyperinflation or
• 4:12
  inflation, the value that are where, where that has really
• 4:16
  attained almost more power than the Fed?
• 4:20
  Does that does that make sense? Well, it it actually does make
• 4:24
  sense. If you're looking to buy gold,
• 4:26
  silver or platinum, do yourself a favor and check out Pymbex,
• 4:30
  the online precious metals bullion dealer and sponsor of
• 4:34
  Rons Basement. I was a happy customer before
• 4:37
  they offered to support the channel.
• 4:40
  You'll find they have the best prices, quality and service.
• 4:44
  I think Pembex is best and you will too.
• 4:47
  And be sure to tell him that you're from Ron's basement.
• 4:50
  And I do think that the Fed and, and other global central banks,
• 4:54
  I mean, I think they're all impotent.
• 4:57
  I don't think that that they have any more sway because, you
• 5:02
  know, this is a con game. I mean, that stuff is based on
• 5:06
  debt and the full faith and credit, the government's ability
• 5:10
  to grow more debt. That's what creates and supports
• 5:13
  this thing. And when you look at the
• 5:17
  purchasing power, I mean, if if you said to me you can only use
• 5:20
  one chart, which one do you want?
• 5:23
  I would say I want one on the purchasing power of the consumer
• 5:28
  dollar from the Federal Reserve Education Department, the Fred.
• 5:33
  That is frankly one of my very favorite websites.
• 5:37
  I mean, I just keep that pinned up all the time because I'm in
• 5:40
  there looking at this, that or the other thing.
• 5:42
  But the key piece on that is that here's I can't give you a
• 5:47
  lot of guarantees, but I can give you this guarantee.
• 5:50
  At some point all assets move to their true fundamental value.
• 5:59
  And on that graph, if you look on the index on the left hand
• 6:04
  side, what do you see? You see a big fat 0 just like
• 6:11
  all these other currencies and more that just simply do not
• 6:15
  exist anymore because they were all debt based government backed
• 6:21
  currencies. And so this is not me telling
• 6:25
  you that the true value of this stuff is 0.
• 6:29
  This is the Federal Reserve whose job it is to regulate the
• 6:35
  rate and speed of inflation. And when they lost that control
• 6:40
  with all of this money print, somehow they don't know what
• 6:43
  creates inflation. They even admit that they don't
• 6:46
  understand deflation, which is awfully scary since their job is
• 6:52
  to regulate the rate and speed of inflation.
• 6:56
  All they really want to do is keep it at a level that you
• 7:01
  don't notice that you don't go out and say, hey, boss, I need
• 7:06
  more money, right? And, and look, that was the
• 7:09
  answer to the inflation that they created, which was to hurt
• 7:14
  the hurt the, the workers, to slow down the economy to a point
• 7:21
  where, well, guess what? We, we had this little bit of a
• 7:26
  run in increased income for workers, for the masses, for,
• 7:31
  you know, all of that. And that's slowed down now,
• 7:35
  hasn't it? And we've got unemployment
• 7:38
  that's rising at the same time that that job availability is
• 7:42
  declining. This is what the Fed did.
• 7:45
  This was the answer. Not greed flation or shrink
• 7:49
  flation, right? I mean, not the corporations
• 7:54
  that whose CE OS make thousands of times what the average worker
• 8:00
  makes. I mean, certainly that's
• 8:02
  justified, you know, and I hope everybody understands that I'm
• 8:06
  being very facetious when I say this, You know, so they don't go
• 8:11
  to the root cause. Have they lost control?
• 8:14
  Yeah, the markets are in control.
• 8:16
  Yeah, yeah, yeah. Well, and, and when you look at
• 8:18
  the, when you look at the distribution of wealth in the
• 8:21
  country, you know, and there's just statistics that are mind
• 8:26
  blowing about, you know, how much, what percentage of the
• 8:29
  wealth the top 1% of people owner, the top 3% own more than
• 8:33
  the bottom 50 per. I mean, it's just crazy that
• 8:37
  it's, it's obvious that what the Fed has done is not helped the
• 8:40
  average person. And you know, I thought of
• 8:42
  something when you are, when you were speaking, you know, the
• 8:45
  FED's goal is to have 2% inflation.
• 8:48
  I mean, that's their, you know, stated policy.
• 8:52
  Why? Why do they have to have any
• 8:54
  inflation would be my question. And #1 even if it's just 2%,
• 8:59
  eventually, eventually even at 2%, eventually it becomes
• 9:03
  worthless, right? I mean, it might take a lot
• 9:05
  longer. 100% and that and that's it.
• 9:08
  That's why I said when when Nixon closed that gold window in
• 9:11
  71, he basically handed over power to regulate the rate and
• 9:15
  speed of inflation to the central bank.
• 9:19
  Which is it? Their job is not to protect the
• 9:23
  public. Their job is to protect the
• 9:26
  banking sector. And the the assumption is, is
• 9:31
  that the banking sector will loan more money into existence.
• 9:39
  No, the Fed doesn't exist or the public, they want that 2%
• 9:44
  because at 2% you don't change your behavior.
• 9:48
  What you do do, and we have seen this is you grow more debt to
• 9:52
  try and sustain a standard of living.
• 9:55
  But frankly, when you have people that when they're buying
• 9:59
  their basic groceries, have to do it on those, you know, in
• 10:05
  four payments or put it on a credit card, they can't pay for
• 10:11
  today's groceries, Guess what you got to eat tomorrow too.
• 10:15
  That shows you how little. And do we really need the Fed if
• 10:20
  we go back to a gold standard? And guess what?
• 10:25
  If we utilize the blockchain technology to vote, boy, we can
• 10:33
  shortcut out an awful lot of fat.
• 10:37
  And you know, and, and you, you, you brought up something
• 10:40
  brilliant or you made a connection for me in my mind,
• 10:43
  which is going to be, that's quite an achievement.
• 10:46
  And that is that, that the Fed is, and I knew this, but I never
• 10:50
  really thought about this. the Fed is owned not by the United
• 10:54
  States people. the Fed is owned by what is it, 8 big banks,
• 10:57
  right? So.
• 10:59
  That are reserve banks, yeah. The commercial banks, yeah.
• 11:02
  Yeah. And so who are they beholden to?
• 11:04
  They're not beholden to the US people.
• 11:06
  They're beholden to the big banks.
• 11:08
  Their job is to. I never, I guess I knew that,
• 11:11
  but it never really sunk in how how important.
• 11:15
  I think most Americans I know, you know, ask.
• 11:17
  I asked my neighbors this question from time to time when
• 11:20
  when they're bugging me at the neighborhood pool and I don't
• 11:22
  feel like talking. Nobody knows that the Fed is is
• 11:27
  not even part of the US government, that the Federal
• 11:29
  Reserve is no more federal. The Federal and Federal Reserve
• 11:32
  is no more federal than the Federal and Federal Express,
• 11:35
  right? People just assume that this is
• 11:39
  part of the United States government.
• 11:40
  It's like, no, it's a privately owned bank owned by a bunch of
• 11:44
  big banks. Who do you think they're looking
• 11:46
  out for? Duh.
• 11:47
  Well, pocket science is just the basics.
• 11:54
  And so, yeah, and, and when you look at what just happened with
• 11:58
  the reserve requirement for the Basel 3 end game, where they
• 12:03
  were coming in at 19%. Now remember, we've been in an
• 12:07
  ample reserve regime, which basically means that if a bank
• 12:11
  gets into trouble, Fed is going to do more of this, right?
• 12:16
  That's the reserve regime, but they were going to have them
• 12:20
  hold 19% and Oh my goodness, all that lobbying by the big banks
• 12:28
  and now it's down to 9%, Yeah. Interesting.
• 12:33
  So they keep all the teeth out of the regulations anyway, and I
• 12:38
  believe there was a regulator installed at SVB before it
• 12:43
  failed and they didn't pick up on any of that either.
• 12:47
  Yeah. Those two martini lunches.
• 12:51
  Well, Lynette, I think we're causing some problems.
• 12:53
  I got somebody down here in the basement who is not happy with
• 12:57
  us and what we're talking about. He wants to briefly say hello.
• 13:00
  He lives he lives in this box. And he he met you last time.
• 13:05
  His name's Jerome Powell. He's he's shaking over here in
• 13:10
  his. In his box camera, let's have a
• 13:13
  conversation. Yeah, listen, I've, I've invited
• 13:16
  him to the basement many times. I'm like, there's an open
• 13:19
  invitation to sit down here and for he and I to have a talk and
• 13:23
  he just, he just never shows up. Is it safe to say that in 1971
• 13:27
  when Nixon took the United States off the gold standard,
• 13:30
  and I think it was 1964, they took silver out of the money.
• 13:34
  So in 71 that just ended our money's connection or root
• 13:39
  rooting to any type of of of precious metals.
• 13:43
  Did the dollar and gold and silver become they went from
• 13:47
  being like best friends to becoming almost like enemies,
• 13:51
  like almost. What happens a lot of times
• 13:52
  during a divorce between a couple is that is that a safe
• 13:55
  assessment? Well, I, I'd say that the
• 13:57
  relationship really started to deteriorate in the, when the US
• 14:04
  promised and vowed to keep the value of the dollar at 35 bucks
• 14:12
  to one ounce of gold. But the problem was, is they
• 14:16
  were funding wars, the Korean War and then the Vietnam War.
• 14:22
  And so we didn't do it. We reneged.
• 14:26
  Now, that's not ever the way they're going to tell you in the
• 14:29
  history books, but we reneged on our agreement.
• 14:33
  That's why the whole rest of the world agreed to peg or tie their
• 14:40
  currency to the US dollar, because we made that promise and
• 14:45
  we broke it. And then, I mean, I want you to
• 14:48
  think about this for a second, because up until 1933, if you
• 14:54
  walked into any bank with the now I can't.
• 14:57
  Here's a $20 bill, OK, If you walked into any bank with this,
• 15:02
  you could walk out with this. What does behind a currency or
• 15:09
  to support a currency is it requires fiscal responsibility.
• 15:15
  That is not something that governments want to do.
• 15:18
  They want to tax and spend, but the public had the power because
• 15:23
  if you did not like what that government was doing, you'd walk
• 15:27
  in with this, you'd walk out with that and that would create
• 15:32
  those restrictions. So they had to take it away from
• 15:35
  us and they did in 1933. But the rest of the world could
• 15:40
  still send in these and take out these.
• 15:45
  So there was actually and there, there's all the data.
• 15:47
  So it's not my opinion. It's data, hard data, a run on
• 15:51
  the dollar in the 60s. And some of you guys that are
• 15:55
  old enough, like I am, because I'm about to be 70, can remember
• 16:00
  Charles de Gaulle coming on camera and saying that they
• 16:03
  didn't trust the dollar anymore. And that's so you can see the
• 16:07
  chart so much so that by the time that Nixon closed that gold
• 16:13
  window, they say it so nicely, it should be by the time that
• 16:17
  President Nixon reneged on the agreement that was established.
• 16:22
  And I think 48 he had less gold in deep storage than we did
• 16:29
  prior to the 1933 confiscation. Wow, wow.
• 16:35
  It's and, and since 1971, I read the other day post 1971 the the
• 16:43
  dollar has lost like I think it was 98% of its value relative to
• 16:48
  gold. I mean, what does that tell us?
• 16:51
  What does that tell us? Does that mean that the gold is
• 16:55
  worth that much more, or really that the dollar is worth that
• 16:59
  much less? Yeah, because the gold is worth
• 17:01
  about that much, about the same. It buys roughly the same amount
• 17:05
  of goods and services. But that's what that's what we'd
• 17:09
  like the dollar to do also, right.
• 17:11
  I mean. Exactly.
• 17:13
  And you know, I've been running this thing and I, I do it every
• 17:16
  once in a while, but I've been doing it more lately.
• 17:19
  And it's really interesting because anybody can go on a
• 17:23
  currency converter website, right?
• 17:28
  Put in if, you know, currencies that have done overnight
• 17:32
  devaluations like Ethiopia or Nigeria or or Zimbabwe or
• 17:38
  Argentina or you know, so there's a like a lot of
• 17:43
  countries just recently that have done those overnight
• 17:47
  devaluations. And if you put in there the US
• 17:51
  dollar to that currency, you'll see a big spike up in the
• 17:56
  dollar. But then if you put even the
• 17:59
  manipulated spot silver market, silver outperforms the dollar.
• 18:06
  And also it's so fascinating because it's every single time,
• 18:10
  it's the same thing every single time.
• 18:12
  If you then put Spot gold in to that other currency that even
• 18:18
  outperforms more. And I just did a piece where I
• 18:22
  was looking at a feed a food basket and I was using data from
• 18:26
  the Bureau of Labor Statistics. But he's you to say anyway.
• 18:34
  And comparing the prices of specific goods, of foodstuffs,
• 18:39
  staples, really, from 1913 to 1924, the most current BLS
• 18:46
  report. And I mean, I don't know where
• 18:48
  you find a loaf of bread for $2.96, but it might exist
• 18:53
  somewhere. All right, I'll take the word
• 18:55
  for it. Now.
• 18:56
  I'm not going to be to the penny in here because I don't have it
• 18:59
  in front of me, but the food inflation in that basket,
• 19:04
  according to the BLS was something like 2500% silver.
• 19:10
  Spot silver to the ounces of silver to buy that same food
• 19:15
  basket was like 2900%. Silver actually maintains your
• 19:21
  ability to buy the same goods and services over that long
• 19:27
  period of time and is why I personally use silver for
• 19:32
  barter. But when you put the gold in, it
• 19:36
  was somewhere over 12,000 percent, 12,000%.
• 19:45
  Not only does gold maintain your ability to purchase the same
• 19:49
  goods and services over time, but it also puts you in a
• 19:54
  position to thrive through this. And right now where we have
• 20:00
  those income producing assets? That ridiculously Nosebleed
• 20:06
  levels because they've been targeted for reflation, Their
• 20:12
  words, not mine reflation and you have physical gold and
• 20:18
  silver via the spot market suppressed.
• 20:22
  It's real value hidden and suppressed.
• 20:25
  That's going to flip flop. Yeah, yeah.
• 20:28
  But First Mining Gold is a development company advancing 2
• 20:32
  of the largest gold projects in Canada.
• 20:34
  Spring Pole in Ontario and Duparque, located in Quebec,
• 20:39
  each already has 5 million ounces of gold reserves, but
• 20:44
  exploration initiatives are underway at both projects to
• 20:47
  find even more gold. First, Mining is well financed,
• 20:52
  has zero debt and owns an interest in four additional
• 20:56
  Canadian gold development projects.
• 20:58
  It's interesting you say that because like if I think about,
• 21:02
  you know, if I had $10,000 that I could either put into Apple
• 21:06
  computer stock or silver. Number one, I'm an account, I
• 21:11
  have a degree in accounting. I'd love to look at financial
• 21:13
  statements. I mean, I know that Apple stock
• 21:15
  from a fundamental perspective is just the assets you get free
• 21:19
  share. It's, it's so overvalued.
• 21:22
  It's incredible, right. And then from a price to
• 21:24
  earnings or a price to sales perspective, but then also I
• 21:28
  thought, you think about this, Lynette, not only that, but it's
• 21:31
  measured in dollars, right? It's based on dollars.
• 21:35
  So it's like a double Ponzi almost.
• 21:38
  You know, I'm like, this is the craziest thing ever.
• 21:40
  And whereas I could have this stuff, you know, here's 3,
• 21:45
  here's three, you know, old silver dollars.
• 21:49
  I'll take the silver in a second.
• 21:51
  If I, if I look out over a 10 or 20 or five or one day period
• 21:56
  even, I'm going to take this over well.
• 21:59
  You know, and not only that, because definitely to your
• 22:03
  point, all you can do is convert that Apple stock into Fiat
• 22:08
  money. That's all you can do with it.
• 22:11
  It is used in one area of the economy.
• 22:16
  So when demand for these go away, what do you got?
• 22:22
  But physical gold and physical silver are used in every single
• 22:28
  sector of the global economy. They have the broadest base of
• 22:33
  functionality. This is one.
• 22:37
  This is every single sector of the global economy.
• 22:42
  This is a bazooka. This is this.
• 22:48
  Yeah. And when you're going into a
• 22:50
  knife fight, do you want a pen? Yeah, I, I, well, that, that
• 22:57
  leads me perfectly into what I, I want to, I want to talk with
• 23:00
  you about which is the cage match that we have right now
• 23:03
  between what I see the US dollar in gold.
• 23:06
  But I want to hit back on one point you brought up, which I
• 23:08
  think is so interesting and, and something that really came to
• 23:12
  surface for me the last couple months.
• 23:13
  And that is that, you know, we all know gold and silver have
• 23:16
  been valuable for thousands of years.
• 23:17
  And that's a big attribute, right?
• 23:19
  That amount of time, the dollar's been valuable for
• 23:21
  whatever, but it's everywhere. But not only is it everywhere,
• 23:25
  but if like when I especially it's true for gold, but I was
• 23:28
  more focused on silver when I thought about this.
• 23:31
  The number of people in the world who participate in the
• 23:36
  silver market, It could, it could quite possibly be from a
• 23:40
  from a human participation perspective, the biggest market
• 23:44
  in the world. Because there aren't that many
• 23:45
  humans, you know, that are buying and selling crude oil or
• 23:49
  bushels of wheat or. But there's a lot of humans out
• 23:52
  there. Maybe not in the United States,
• 23:55
  but when you look at India, China, all over the world that
• 23:58
  own silver. Yeah.
• 24:02
  And any form, you know, sterling silver spoons and iced teaspoons
• 24:07
  and chopsticks and pepper shakers and jewelry, 925
• 24:16
  jewelry, sterling jewelry. It's 92 1/2 percent pure.
• 24:20
  And, you know, I always wear my jewelry.
• 24:22
  And truthfully, when my daughters were 12, that's when I
• 24:26
  started them on, on good jewelry, right?
• 24:31
  I did that because I wanted them.
• 24:34
  I wanted them to always have money, even if they weren't near
• 24:38
  me. They're off to college, which
• 24:40
  obviously they weren't at 12, but they took their jewelry with
• 24:43
  them when they went to college because.
• 24:45
  And when I travel, I have certain travel pieces of jewelry
• 24:49
  that I use so that if I need, if something happens and I need
• 24:55
  wherever I am in this world, I can convert it just like that.
• 25:01
  Yeah, it's, it's crazy. I mean, and like you said, well,
• 25:04
  you, you brought up this point, right?
• 25:06
  The dollar is, you know, like bringing a knife fight to a gun
• 25:10
  or to a gunfight. I want to get your opinion on
• 25:13
  this. Bank of America recently
• 25:16
  published some some research that stated that gold has now
• 25:20
  become the world's preferred reserve asset, second only to
• 25:26
  the US dollar. So the gold moved up, it
• 25:29
  overtook the euro, right. So, so in my mind, I thought,
• 25:32
  here we go. It's game on.
• 25:34
  It's like it's like a cage match or a boxing match.
• 25:37
  It's the final, you know, the final.
• 25:39
  They're they're in the ring together.
• 25:41
  And as I thought about it, I was just at my get like, I almost
• 25:45
  imagined like, you know what, Lynette and I go to wear the
• 25:47
  boxing match and we have to place a wager on who's going to
• 25:50
  win this match. And I'm like, in this corner, we
• 25:53
  have the US dollar backed by, you know, 50 years of, of
• 25:57
  decreasing value of, you know, backed by $35 trillion in debt.
• 26:02
  And in this corner we have precious metals, gold and
• 26:05
  silver. They've got a 5000 year track
• 26:07
  record of never losing any value.
• 26:11
  And, and and this goes with your with your pile of, of paper Fiat
• 26:15
  that has gone bad. Not only that gold and silver
• 26:18
  had been in this fight hundreds of times.
• 26:21
  Is it hundreds of times thousands And they've won every
• 26:25
  time. They've they got a perfect
• 26:27
  record. Who we going to bet on?
• 26:30
  Not this stuff. I mean, whether you're looking
• 26:36
  at the central banks, Oregon, you're looking at a government.
• 26:39
  Can anybody actually look themselves in the eyes or look
• 26:42
  anybody else in the eyes and say this entity has my best interest
• 26:46
  at heart and my children's best interest at heart?
• 26:50
  No, it it used to be that the individual was at the top of the
• 26:54
  food chain. And then the states, I mean the
• 26:57
  Constitution, right? I mean, what?
• 26:59
  Oh, Relic. Then the states were there to
• 27:02
  support the rights of the individual, and then the federal
• 27:06
  government was there to support the states who were supposed to
• 27:10
  support the rights of the individual.
• 27:12
  That's flip-flopped right now. How long do we have to work to
• 27:17
  pay our taxes? And where is that money going?
• 27:20
  Because quite honestly, it's so easy to spend someone else's
• 27:25
  money, isn't it? Yeah, Yeah.
• 27:28
  Well, you know, I, I think about, I thought about this
• 27:31
  earlier as you were speaking, you know, when they took us off
• 27:34
  the gold standard, it, it, it took away that discipline.
• 27:38
  It took away that, you know it. So it's almost like my wife
• 27:41
  Susie and I if like we, we're, you know, our any married couple
• 27:45
  that is living within their means and living, you know,
• 27:48
  spending the same or less than they earn.
• 27:52
  And then all of a sudden, all of a sudden we say, you know what,
• 27:55
  we've got six credit cards. We've got, you know, we can, we
• 27:58
  can, let's just blow all the money and have a great time.
• 28:02
  But at some point, even if you're the United States and,
• 28:04
  and, and you correct me if if you think I'm wrong, but at some
• 28:07
  point the, the natural rules of mathematics apply even to the
• 28:13
  biggest, baddest guy in the room, right?
• 28:16
  I mean, because people say, oh, nothing, it can't happen like
• 28:18
  Argentina. It could never well, could it?
• 28:22
  Yes. And actually it will and it
• 28:25
  already has begun as witnessed by the monetary velocity, right.
• 28:31
  So we're already, in my opinion and actually according to the
• 28:35
  data that I'm looking at that I believe, I believe firmly that
• 28:40
  we are already in the beginning stages of that hyperinflation.
• 28:44
  It isn't obvious yet, but watch this pivot.
• 28:49
  Watch this pivot. Yeah, yeah, yeah.
• 28:51
  You know, everybody and everybody's always SO is so
• 28:54
  focused on the Fed. You know, my little friend
• 28:56
  Jerome in the box, what's the Fed going to do?
• 28:58
  What's the Fed going to do? And and I'm getting more and
• 29:00
  more. What's that?
• 29:02
  I wish you could keep him in that box.
• 29:04
  Keep him in the box. Not like all of this is because
• 29:09
  of Jerome. It's just.
• 29:11
  He's he's symbolic of what's going on.
• 29:13
  But I'm becoming more and more attuned with the fact that what
• 29:17
  it's really about now is inflation.
• 29:20
  Or again, that's just another way to say devaluation of the
• 29:24
  dollar and that that's what's going to drive the bus in the
• 29:27
  next 10 years. And that the Fed is, is, is
• 29:30
  becoming, you know, their, their tools, you know, and do they
• 29:35
  even really want to fight inflation?
• 29:36
  I mean. I so agree with that because I
• 29:42
  absolutely knew that the system died in 2008, but they didn't
• 29:46
  have the new system in place. I don't think it was a
• 29:50
  coincidence that that Bitcoin came out in January of 2009 when
• 29:56
  quantitative easing came out in March of 2009, because look at
• 30:01
  how much money would have gone into physical gold had that not
• 30:06
  happened. And the other thing is it's a
• 30:08
  true in my, my opinion, and I know there's going to be a lot
• 30:12
  of people that disagree with me, but it's a Trojan horse because
• 30:16
  there are, to your point earlier, thousands of instances.
• 30:21
  I mean, these are just a few of the currencies.
• 30:24
  There's over 4800 currencies that do not exist anymore.
• 30:31
  And the way they make that transition, I mean, read their
• 30:34
  documentation, they tell you we know how to do this.
• 30:38
  We just keep things looking as normal as possible so that
• 30:44
  people don't realize that anything has changed.
• 30:47
  And you know, I do happen to have in here because I ordered
• 30:50
  them in a $20 bill. What's the date on this one?
• 30:54
  1977 and a $20 bill from 1969. Look at freaking look.
• 31:05
  Exactly. They were completely different.
• 31:10
  69 still had at least a quasi gold backing 7 and I remember
• 31:17
  I'm old enough to remember Nixon saying, oh, if you just buy
• 31:21
  American, don't worry about it because we're not going to
• 31:24
  experience inflation. What is their job?
• 31:28
  To lie, To lie and lie and lie. And you should have a box with
• 31:35
  Janet Yellen in there with earplugs because that woman is
• 31:39
  tone deaf. Do you?
• 31:42
  Yay, that's perfect. I don't have the, I don't have
• 31:46
  the earplugs. You know, that would have been a
• 31:48
  little creepy if I'd pulled that one off.
• 31:50
  But there, Janet Yellen, there you go.
• 31:52
  Yeah, right. I, I mean, you're, we're not
• 31:55
  going to see another financial crisis in her lifetime and more.
• 32:00
  I mean, the economy is so strong and look at we are creating so
• 32:05
  many jobs here that it can absorb anybody that wants to
• 32:09
  come into this market. Well, they should tell that to
• 32:13
  the 2024 college grads or they should tell it to all of those
• 32:17
  people that are getting laid off while the jobs.
• 32:22
  Yes, what about the 818,000 people that had make believe
• 32:27
  jobs over to? I'm sorry, but I had to throw
• 32:30
  that in. Please, I'm so glad you did
• 32:33
  because I probably would have forgotten to mention it and
• 32:35
  you're 100% correct. Fortuna Mining is a global
• 32:40
  intermediate gold and silver producer.
• 32:42
  Since 2005, Fortuna's best in class management has delivered
• 32:47
  impressive growth and profits. Fortuna's solid financial
• 32:51
  position and operational expertise allows for performance
• 32:56
  in any precious metals price cycle, but also provides a
• 33:00
  foundation from which to harvest robust profits in more favorable
• 33:05
  metals markets. Investing in Fortuna is an
• 33:08
  investment in quality, long term, sustainable production of
• 33:12
  in demand precious and base metals.
• 33:16
  You know, they'll come out with stuff and then there's revisions
• 33:19
  and let's see, really think it was only that 818,000.
• 33:24
  Yeah, right. I, I don't know if they maybe
• 33:28
  they were cashing their make believe paychecks during that
• 33:30
  period as well. Well, they probably work as you
• 33:32
  know, isn't this a make believe paycheck anyway, right.
• 33:35
  I mean, what the heck it is? Yeah.
• 33:39
  No, I did a little thing once because it's more eye opening.
• 33:44
  So I've been using this a lot more if I'm talking about a
• 33:47
  topic and then I'm going all the way back and showing that in the
• 33:52
  beginning in terms of dollars in terms of gold and terms of
• 33:57
  silver, right and then bring it forward.
• 34:00
  And there hasn't been one case, not one case where the dollar
• 34:07
  has lost lots of purchase like your like your income.
• 34:11
  Let's just go to 1971 when we completely went off the gold
• 34:14
  standard, the average wage was 10,500 bucks at that time.
• 34:19
  I don't have this in front of me, so I'm going to be off a
• 34:22
  little bit. But had you been paid in gold at
• 34:26
  that time at $35.00 an ounce or even go to 4222 because that's
• 34:31
  what they reset it to when they went off the gold standard, you
• 34:35
  would have been paid with something like 271 ounces of
• 34:39
  gold. If you never got a raise.
• 34:44
  The average income is now something like I think $63,000 a
• 34:48
  year. So you would sit there and go,
• 34:51
  well, I would much rather have 63,000 than 10,500 except that
• 34:58
  the cost of living has expanded so rapidly and so much.
• 35:04
  If you never got a raise and were just paid in 271 ounces of
• 35:09
  gold, that equates out to somewhere six, $700,000 you
• 35:14
  would have sustained your standard of living.
• 35:17
  Yeah, yeah, yeah. And to think that that the
• 35:19
  American standard of living has not crashed since even the 70s.
• 35:23
  I was born in 1970. I was raised middle class.
• 35:27
  My my dad was in the Missouri Air National Guard full time,
• 35:32
  rose to the highest rank of an enlisted guy.
• 35:34
  He wasn't making, he was making a middle class income.
• 35:37
  We had a nice house in Saint Louis, a nice little house.
• 35:40
  We had two cars. We went to Disney World and we
• 35:43
  went on a nice vacation every summer.
• 35:44
  I went to private grade school and high school.
• 35:47
  We probably ate higher quality food than the average American
• 35:52
  family eats right now. My mom didn't have to start
• 35:55
  working and she only worked part time.
• 35:58
  I think when I was 10 or 11. And to think now, I mean A1
• 36:02
  income, middle middle, like equivalent of what my dad was
• 36:06
  doing. They could hardly afford the
• 36:08
  trip to Disney World. I mean, it's, it's crazy.
• 36:11
  Oh my God, yeah, that's true. I think the entry fee is
• 36:14
  something like what, 2300 bucks or something like that.
• 36:18
  Yeah, yeah, yeah. I mean, you're gonna, you're
• 36:19
  gonna drop 10 grand. We're going to Disney World,
• 36:24
  Annette. And, you know, there's something
• 36:26
  else in what you said that I would like to just kind of bring
• 36:29
  up because your mom stayed home and was like the heart of the
• 36:33
  family. So when we got home from school,
• 36:35
  she was there, right? Yes, yeah.
• 36:37
  And they knew because if you read again, if you read what's
• 36:41
  going on, they wanted to put the women and and look, I've worked
• 36:46
  my whole life and I've always worked in male dominated fields.
• 36:49
  So I don't really want anybody to misconstrue.
• 36:52
  And I was a single mom since my daughters were three, and
• 36:55
  they're going to be 43 or 44 this year.
• 36:59
  Yeah, they're twins, right? They are twins and you won't let
• 37:03
  them see that because they're like, you don't know how old we
• 37:05
  are. They're 3034.
• 37:09
  We'll we'll correct that right? We'll.
• 37:11
  Go with that, OK? No, they're 44, right?
• 37:14
  OK. All right.
• 37:15
  And, but, but the point is, is that it's, and everything I've
• 37:21
  seen since, it's kind of like a divide and conquer.
• 37:25
  It's degradation of the family unit.
• 37:29
  And I'm not saying that all women should stay home.
• 37:31
  I'm not saying any of that at all because I think everybody
• 37:34
  should have a choice. Yeah.
• 37:36
  What I am saying is that that degradation was intentional and
• 37:41
  all we've seen, especially with what happened with the cervasive
• 37:45
  disease in 2020, it's divide people, divide people divide
• 37:51
  people. Everything is so politicized.
• 37:54
  So we're sitting here saying you, you, you, right, pointing a
• 37:58
  finger, when in reality that means we're not talking.
• 38:03
  That means that we're not communicating and, and, and
• 38:07
  helping each other through this and we're not paying, we're
• 38:10
  paying attention to pointing fingers instead of looking in
• 38:15
  the mirror and instead of coming together to support each other.
• 38:21
  That was absolutely intentional. And that's where I have a
• 38:26
  problem. I, I think everybody needs to
• 38:28
  make the choices that are right for them.
• 38:30
  And I can't tell you what those choices are for you.
• 38:34
  I can only tell you what they are for me.
• 38:37
  However, I do believe that we need a choice and I don't think
• 38:40
  people have that choice anymore. No.
• 38:43
  And it well, you know, my wife doesn't work and it's very
• 38:45
  difficult, right, I'll say that. And we have, I have twin 12 year
• 38:48
  old old daughters. I think it is it it.
• 38:53
  It's also interesting to consider that now a dual income
• 38:56
  family in today's world, right, can barely afford the same
• 39:02
  lifestyle that a single income family could afford.
• 39:06
  And whether it's the the, the dad working or the mom working,
• 39:08
  whatever, we do know one thing for sure.
• 39:11
  When they're both working full time jobs and working hard, it's
• 39:15
  taking away from their time and focus on their family there.
• 39:18
  I think, I think you, you can't. It's really, really hard to
• 39:21
  argue that point. It is.
• 39:25
  I mean, if you know, for me, I didn't really have the help and
• 39:29
  it was a struggle to figure out how to support these babies and
• 39:33
  rape and I just was working all the time.
• 39:37
  I mean, you know, start my next job.
• 39:42
  I got a feel. I got a feeling.
• 39:43
  You did a great job. Very.
• 39:46
  Proud of my children and close and they're they're, they're
• 39:50
  successful and they're contributing people to the world
• 39:53
  and they were my focus. So thank you very much.
• 39:56
  I I'm going to accept that. Yeah, I would say 100% I could
• 40:00
  with a high level of confidence. You did a pretty awesome job.
• 40:03
  So Lynette, this has been great that I that I forget to ask you
• 40:07
  about anything, any other points you wanted to you wanted to
• 40:10
  bring up? Ron there are so many things,
• 40:13
  like for hours and hours and hours.
• 40:18
  Yeah, it's been it's it's it's always great to talk to you.
• 40:21
  Now, if people want to see more of you, you have a YouTube
• 40:24
  channel. How would they?
• 40:25
  I'll put a link to it in the description of this video.
• 40:28
  But how would they or or how else could they get in touch or
• 40:30
  learn more about you? I'm very, very visible on
• 40:34
  YouTube and on Twitter. I'm at the Lynette Zhang on
• 40:38
  Instagram and Facebook. I'm at lynettezhang.com.
• 40:42
  And I will tell you that that probably my key focus these days
• 40:48
  is on building community locally because I know 100% that food
• 40:55
  becomes the biggest issue for most people in these
• 40:58
  transitions. And we're seeing it, we're
• 41:00
  seeing it all over the place, not, not in foreign countries.
• 41:03
  We're seeing it in the US as well and also globally because
• 41:09
  we have to stand for sound money and we can create this very
• 41:15
  quiet and peaceful revolution just by converting this garbage
• 41:22
  into sound money. And if we do that and we do it
• 41:27
  on a global basis, we need to do it on a statewide basis here in
• 41:32
  the US and and urge our politicians to make gold and
• 41:37
  silver legal tender officially again.
• 41:40
  But on a global basis, we need to have a seat at the table,
• 41:45
  Ron. We have a say in the new
• 41:49
  currency, in the new monetary system that's coming out.
• 41:53
  And if I'm sitting at that table, not only do I want it
• 41:57
  backed by gold, but I want it convertible into gold because if
• 42:03
  it's not convertible, you're not going to be able to check it and
• 42:08
  it's just going to be a big fat lie.
• 42:10
  That's kind of what they're finding in Zimbabwe as they're
• 42:13
  trying to regain the confidence of the public.
• 42:17
  In gold and silver I trust. Not the Fed, not the politicians
• 42:23
  in gold and silver, I trust. Yeah, and you can hold it in
• 42:27
  your hand. I know we have some
• 42:28
  organizations here in the US, One of them is Citizens for
• 42:32
  Sound Money. They're working across the
• 42:35
  country, state by state. I know even here in Missouri,
• 42:38
  they were helping out with the Missouri Freedom Initiative to
• 42:41
  try to, we're still working on it, but there are a good number
• 42:44
  of states that have passed legal tender legislation and it's kind
• 42:48
  of getting chipped away year by year.
• 42:50
  And I mean, and I was, and I'll end with this thought I was
• 42:54
  thinking about. So they, the founding fathers of
• 42:57
  our country had Lynette Zhang, Ron Branstadter, everybody in
• 43:02
  the country in mind when they wrote that document, right?
• 43:06
  I think Lynette and and Ron still have them in mind.
• 43:09
  But most of our fellow Americans don't.
• 43:12
  They've kind of forgotten about the fact that they really, you
• 43:15
  know, they knew the fundamental kind of timeless factors that
• 43:21
  would come into play in the future.
• 43:23
  So it's good to see that we do have a growing number of states
• 43:25
  that are working to pass this legal tender legislation.
• 43:28
  Yeah, absolutely. Because I mean, really, what
• 43:31
  gave me hope was when President Biden changed the status of
• 43:36
  marijuana. Why did he do that?
• 43:38
  He did that because there was enough pressure from the states.
• 43:42
  We can come together in the States and realize it enough.
• 43:47
  You know, I mean, this is what we have to do.
• 43:49
  We have to have a sound money movement.
• 43:51
  Or, you know, I mean, I'm not so worried about me.
• 43:54
  I'm not actually even that worried about my children
• 43:58
  because of what I've managed to be able to, to do and
• 44:01
  accumulate. And I know I have a good solid
• 44:03
  sound money portfolio, but I care about the world, right?
• 44:08
  It's not me. Who if not now, when I I
• 44:11
  challenge every single person to look in the mirror and ask that
• 44:15
  question. If not me, who if not now?
• 44:19
  One, one person can't do it. But together.
• 44:24
  I mean, this is something that we've been witnessing with the
• 44:27
  rise of the unions and all of the political protests that are
• 44:30
  going on. And even China had to change
• 44:34
  things when their population rose up in unison.
• 44:40
  Community is arguably the single most important thing that I can
• 44:44
  really talk about, although a lot of people don't want to hear
• 44:48
  that piece, so I have to talk about why, which is all the
• 44:51
  garbage we've already talked about.
• 44:54
  Right. You know, but, but that's what
• 44:56
  we have to do because if we don't, then we can't complain
• 45:00
  about what we get. Yeah, yeah, your CBDC or
• 45:04
  whatever, because if you look, even just a, a brief study of
• 45:08
  history will plainly indicate to anyone that when, when the world
• 45:13
  is operating on a more gold and silver centric standard, it's a
• 45:16
  much more peaceful and prosperous place for the
• 45:21
  greatest number of people. So I agree with you 100%,
• 45:24
  Lynette. We'll look forward to seeing you
• 45:27
  next time in the basement. I know on behalf of myself and
• 45:30
  our viewers, thank you so much. And I know you do a lot for the
• 45:34
  silver and gold community. So thanks for for joining me
• 45:37
  today. Thank you for having me and, and
• 45:40
  I, I really do appreciate it and I appreciate all the support.
• 45:44
  I mean, it's really quite heartwarming.
• 45:48
  I'm the same as everybody else out there.
• 45:50
  I just looked in the mirror and said, if not me, who?
• 45:52
  And if not now, when and what else do I have to do?
• 45:57
  Well, you're doing great and we're going to look forward to
• 46:00
  seeing you next time. Thanks, Lynette.
• 46:02
  Bye.