Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⭐SILVER - You Best PAY ATTENTION to This! 🦍🦍 (Gold Price Also)

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⭐SILVER - You Best PAY ATTENTION to This! 🦍🦍 (Gold Price Also) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
They're selling 420 paper representations of a single
0:05
ounce of silver for a single ounce of silver.
0:08
And so there's 420 claims to that single ounce of silver.
0:12
When they do that, that's how they suppress.
0:14
Well, that's one of the many ways that they suppress the
0:16
price of silver. It's hard for us to believe that
0:23
in the United States pre 1964 we had silver in our money because
0:29
now we're moving towards a situation where we may not even
0:33
have cash any longer. So much is happening, so much
0:37
has changed since our founding fathers wrote into the United
0:41
States Constitution that silver and gold are real money.
0:45
Today, we're joined by our special guest, Mr. Pat Holland
0:48
from the Missouri Freedom Initiative.
0:50
He knows a lot about the history of silver, but he has some keen
0:54
ideas on where we might be heading.
0:56
He's going to share all that and a lot more with us today.
0:59
Pat, welcome to Ron's BASEMENT. Hey, Ron, thank you so much for
1:02
having me back. And I'm looking at at the gold
1:05
bear here. He's got a blindfold off.
1:07
Look at that. Yes, we, we did it, you know,
1:09
mission accomplished, $2500 gold.
1:12
And as we're recording this on the morning of August 29th,
1:16
2024, we still have gold above $2500.
1:20
You and I knew it would happen. Silver's doing pretty well also,
1:23
you know, fighting to get above $30 per oz.
1:27
But Pat, you know, on the subject of, of, of let's say
1:31
what a constitutional or junk silver or 90% silver, anything
1:35
pre 1964, it's almost hard to believe that that, you know, 50
1:40
ish years ago we actually had silver in our money.
1:44
And to think about where we're heading next is, is an
1:47
interesting concept. Do you have any thoughts on that
1:49
matter? Well, constitutional solver is
1:53
rare, they stopped making it a long time ago, so whatever's
1:56
still in the system is all they have left.
1:59
So it strikes me as normal that that would become harder to get
2:04
or harder to find, harder for even the stores to procure.
2:09
So that actually makes sense to me.
2:11
And I have a lot of friends. Well, actually, I don't want to
2:15
say it's a hundreds of friends, but I have maybe a dozen
2:18
friends. All they collect is junk silver.
2:22
They don't get bullion, they don't get newsmatic beyond, you
2:26
know, basically what you would find in junk silver like
2:28
Morgan's and stuff like that, Freedom dollars.
2:30
So that actually makes sense to me that when there's stress in
2:34
the silver market, the constitutional silver is harder
2:36
and harder to find. Yeah, I'm getting reports from
2:39
coin shop Chris from a number of different people that while the
2:42
overall silver bullion market, you know 10 oz bars, 5 oz bars,
2:47
a lot of the sovereign coins are, are are still readily
2:50
available that I won't call it a shortage in constitutional
2:54
silver, but definitely what I would qualify as stress in that
2:59
market. You bring up a great point,
3:00
right? Like they don't make it anymore.
3:03
And, and, and a lot of it was actually from what I understand
3:08
melted down around that 1980 time frame when we had silver
3:11
hit $50 per oz, which in today's money is well north of $150.00
3:18
when you, when you, when you adjust that for inflation.
3:21
So it would make sense that this stuff is rare and somewhat
3:26
ironic that it's referred to often times as being quote UN
3:29
quote junk. I like the term junk silver.
3:32
I've that's never offended me. I like that.
3:36
And it's junk by the way, folks, because it's 90%.
3:39
It's not even 92.5, which is sterling.
3:42
So at any rate, the term junk silver, I, I, it's dear and dear
3:46
to my heart. I love it.
3:47
Yeah, one man, one man's junk is every man's treasure, or should
3:52
be anyway. I think that you and I would
3:53
agree that this this might be more more readily qualified as
3:58
junk. Is it?
4:01
Are are we moving? I mean, it just blows my mind to
4:03
think that we could be moving right now from a from a system
4:06
that that yes, we did have 90% silver in our coinage not that
4:11
long ago to a pure electronic system.
4:14
We have these fed now proposition.
4:16
We have all these different, you know, CBD CS on the horizon.
4:20
What do you see? What's your experience with
4:22
what's going on out there, Pat from your from your level?
4:25
You bet. And first of all, let's let's
4:28
just talk a little bit about FED now, which started July of 2023.
4:32
And it does many, many, many things.
4:35
But one of the things it does do is actually in, in fact, this is
4:39
the end product of FED now is to go to a cashless society.
4:44
And they do this by us incentivizing businesses to stop
4:47
dealing in cash. Now, the incentives, I don't
4:50
know what they are. It's different per customer, per
4:53
bank. But I just, as you know, Ron, I
4:56
just spent a lot of time up in Minnesota while I was up there,
5:00
my, my oldest brother Darren had a birthday and we decided to go
5:05
to the Minnesota Twins game. And which is his favorite thing
5:07
to do in the world. So of course, we're doing this
5:09
on his birthday. What I noticed, this is the
5:12
first time I've gone to a Twins game.
5:13
I think it's 17 years. First of all, they don't have
5:17
the Metrodome anymore. They have what's called the
5:19
Target Center. And one thing I got to tell you
5:23
guys is you can't get Twins tickets with cash, nor can you
5:27
go into the Target Center and actually buy anything from
5:31
vendors, any food, any drinks, any, you know, I don't know what
5:35
you want to call them, souvenirs or jerseys or hats or anything,
5:39
and they sell everything in there.
5:40
None of that can be purchased with cash either.
5:43
You must use a credit or a debit card to transact in the sports
5:48
stadium known as the Target Center.
5:50
Now, when I was talking to other family members, they said, well,
5:53
it's been that way for a long time.
5:54
You know, this is the way it is in all the sports centers now.
5:56
It's been that way since last year.
5:58
I didn't know, but I'm kind of curious, you know, basically for
6:02
people in the comments section who are watching this video, if
6:06
you've noticed places where you live where you can't use cash
6:09
anymore. OK, Rob.
6:12
Can I can I leave a comment in the comment?
6:13
Section. Sure, of course you can I.
6:15
I've I've, I've been a Six Flags season pass holder for probably
6:20
the last eight years and last year at the Six Flags in Saint
6:24
Louis and I just visited the one in Chicago about a month ago.
6:28
You cannot use cash. Everything is on credit card.
6:31
Everything is on credit card. So it is happening.
6:36
And you know the other thing I want to throw in, Pat, you
6:38
talked about the incentives that they may be giving business to
6:43
move away from cash. Maybe there's not incentives per
6:47
SE that they're giving them. Maybe they are de incentive.
6:52
I can't even say the word. Maybe they are discouraging them
6:54
from working in cash by making it more difficult because you
6:58
hear stories about that all the time, coin shop owners or other
7:02
businesses that are having problems with their banks as
7:06
related to doing big cash transactions.
7:09
So could they be incentivizing it by making it more difficult?
7:13
I guess sure. And another great way of looking
7:16
at it, you talked about de incentivizing, how about if they
7:18
charge them 2% for a deposit that includes cash versus, you
7:24
know, no deposit because everything's electronic.
7:27
And so there's absolutely no work needed.
7:30
It's all computers actually handling all these transactions.
7:33
Now at this point, now with cash, you have to involve
7:35
people. People have to count the cash on
7:38
both sides of the transaction. And for the banks to be saying,
7:42
well, gosh darn it, we just don't have the manpower to do
7:46
that, that's ridiculous. Counting cash, you know, is very
7:49
easy to do. But there's a lot to be said for
7:51
anonymous transactions from a lot.
7:54
And if you can't make anonymous transactions anymore, boy howdy
7:59
are you in for a shock because you're going to be taxed for
8:01
every single transaction you do. Remember the story I like to
8:05
tell about the wheelbarrow? Go ahead bro.
8:07
And if you're a businessman that is dealing with large amounts of
8:11
cash and you go to your bank with $100,000 in cash that you
8:15
want to deposit and the bank says, well, sure, you can do
8:18
that, but there's a 2% charge. That's a lot of money, right?
8:22
That that's a big incentive not to deal with cash and to move to
8:27
this pure electronic system that by its very nature is very
8:32
trackable. Sure.
8:34
And that's another thing with all the travelling I've been
8:37
doing recently, I've been seeing all the, the signs, the neon
8:40
signs along the, you know, 35 Highway and, and 71 Highway and
8:46
they'll flash 2, actually 2 prices for diesel 'cause I was
8:51
driving a diesel truck. One is for cash, the other one
8:55
is for credit. And the one for cash is
8:57
generally somewhere between 5:00 and 10:00 cents lower per
9:01
gallon. So in that way, the gas stations
9:04
are incentivizing people to use cash.
9:06
Take advantage of that, folks take advantage of that.
9:09
Keep using cash when you buy your gasoline so that, you know,
9:13
basically these places, these convenience stores, these gas
9:17
stations, don't fall for the Fed now trap.
9:21
If they can still keep dealing in cash, you know, basically,
9:24
then we can still keep cash around.
9:26
So it's upon all of us to keep some cash with us at all times
9:29
and try to transact in it. And I'm a silver and gold guy.
9:33
But I'll tell you what, though, going cashless does not involve
9:37
silver and gold. It involves tyranny.
9:39
You don't have that at this level with cash at this point.
9:43
But remember, silver and gold can be dealt with electronically
9:47
as well. So, you know, basically there is
9:49
a way to do that. But the guys, I'm telling you,
9:53
I'm at the Fed Now program is behind this push to go cashless
9:56
across the United States. And I've been called a
9:58
conspiracy theorist by legislators up in Jefferson
10:02
City, MO, because I'm talking about this Fed Now program.
10:06
I've read the documentation online.
10:08
I know what's coming. I know why they're doing it, and
10:11
it's specifically to turn this into a cashless society so it's
10:14
easier to transition to a central bank digital currency.
10:17
And you know, Pat, for the, for the people out there that think,
10:20
oh, that'll never happen, we'll never get rid of cash, right?
10:23
That never happened, right? I remember when the McDonald's
10:27
by my house, it was probably 15 years ago or so, started taking
10:32
credit cards and I thought this is the weirdest thing who would
10:37
ever buy McDonald's on? Because back then it was like a
10:40
foreign concept. Who would ever buy McDonald's on
10:42
a credit card, right? I just thought it was the like a
10:46
foreign idea that would never catch on.
10:49
And you know what? 15 years later, I'll be honest,
10:52
most of the time when I go to McDonald's now, I pay for it on
10:55
my credit card. I pay my credit cards off every
10:57
month, but just for so this idea that we could move away from
11:01
cash in in. And as you've, you know, with
11:05
your, your example of the Twins game and it's in the Six Flags,
11:08
there's a lot of other places that just aren't taking cash
11:10
anymore. It can really happen.
11:13
I know you want to talk more about the Fed Now program and I
11:16
and I and I want to say one thing about that and get your
11:19
opinion on this and then I will keep my mouth closed.
11:22
The way I look at the Fed Now program is it's the
11:25
infrastructure for the for the electronic system to come.
11:29
And I think the best analogy I can use is if you're a person
11:33
out there watching, joining us right now that likes to use
11:36
cash, that likes to maybe stack silver and gold.
11:39
It would be like if you had a little house on the outskirts of
11:42
the city and you had dug your own water well.
11:46
And you have no problem with the water that, that you're able to
11:49
get from your well works perfectly.
11:51
All that. And suddenly there's trucks
11:53
coming through, laying a big water main pipe right through
11:57
your yard. And they're using eminent
11:59
domain. And you go to them and you say,
12:01
Hey, what are you doing? And they said, well, we're just,
12:04
we're just laying this pipe and we're, we're putting in a new
12:06
water main through here. And, and then, you know, a year
12:11
later, you get a letter from the, from the local city and you
12:14
are required to hook onto this water, water main.
12:17
That's right. I, I see the, I see the Fed now
12:20
is kind of that, that that pipe that's been laid, which enables
12:25
this whole electronic system to come to come about.
12:28
Yeah, that's a great analogy because actually that kind of
12:31
thing is happening around the entire United States and small
12:34
towns where they're being required to go on city water,
12:38
city sewer, get off their septic, get off their well.
12:42
So actually, I couldn't have come up with a better analogy,
12:45
but that is it, gang. the Fed Now program literally was
12:49
designed to literally slowly sip the cash out of the system by
12:55
literally making it so businesses are incentivized or
12:59
decentivized, you know, basically around credit and
13:03
cash. And you know, I, I feel like I'm
13:06
kind of belaboring the point, but I promise you that's what
13:09
the Fed Now program is all about.
13:11
And as we find more and more places that are not taking cash
13:15
anymore, I would, if I were in a position to do so while I was at
13:19
the twins game, is try and find out and get to the bottom of why
13:22
they made that decision and actually start talking to
13:26
people. So if you have a local business
13:27
that is saying all we're looking at not taking cash anymore, ask
13:31
them why, talk to them about, you know, especially if it's a
13:34
mom and pop place, if it's a convenience store, you know, it
13:37
might be a corporate, you know, decision.
13:39
So you might not get very far with that.
13:41
But, but, but I think people need to weigh in on this rather
13:46
than just accepting, you know, and, and saying, oh, geez, well,
13:50
I'm just starting to use credit card for everything now.
13:53
I, I know I have never done that and neither has my wife.
13:56
We always carry cash, so we may not have enough cash for what
14:01
we're doing, and then we'll use a credit card, but we still use
14:05
cash. Like for instance, you
14:07
mentioned, you know, going to a Wendy's or whatever like that.
14:10
I'll use cash. I don't use the card unless I'm
14:14
completely out of cash. And this is very, very important
14:18
for all of us to remember. It is up to us to decide what
14:21
we're going to use as money in the United States.
14:23
People may say no, it's up to the government, It's up to the
14:25
Federal Reserve. No, it is not.
14:27
It's up to us businesses have a choice too.
14:31
So I mean, let's you know, keep, you know, visiting businesses
14:35
that accept cash and and the ones that have stopped taking
14:39
cash, I'm not saying to stop visiting them.
14:41
Question. Ask them why they're doing.
14:44
It if you're looking to buy. Gold, silver, or.
14:46
Platinum do yourself a favor and check out Pymbex, the online
14:50
precious metals bullion dealer and sponsor of Rons Basement.
14:55
I was a happy customer before they offered to support the
14:58
channel. You'll find they have the best
15:01
prices, quality and service. I think Pembex is best and you
15:06
will too. And be sure to tell him that
15:08
you're from Ron's basement. When you think about the
15:10
spectrum of what money is right now, and you start with silver
15:14
and gold, right? Real money, constitutional, all
15:18
that good stuff. And then you go to the other end
15:20
of the spectrum, which would be pure electronic, CBDC, all that.
15:24
And in the middle, there is cash somewhere probably, you know, a
15:28
little bit closer to electronic. But do you think that if they
15:31
get rid of cash like we talked about at that point, that really
15:35
leaves two options? I mean, could that be in a, in
15:38
almost a paradoxical way, a potential catalyst for more
15:43
people realizing that, hey, if I want something physical, maybe
15:48
they used to, you know, think of cash as being something
15:51
physical. But if I want anything physical,
15:53
anything real, my only option left at this point is silver and
15:58
gold. Could it actually be a catalyst,
16:00
possibly for more people coming into the silver and gold?
16:02
Absolutely it will be. And in fact, I'd like to speak
16:05
to that little bit because you know, as I'm a state legislative
16:08
guy and there's two States and I'll probably get the names of
16:12
the states wrong, gang. And you'll have to forgive me,
16:13
I've kind of been away for a month or so, but I think it's
16:18
New Jersey and Nebraska. Both states actually got silver,
16:23
gold legislation done in their states but were vetoed by their
16:28
governor, gone back to the General Assembly where they
16:31
overrode the veto in both states.
16:35
But in both states, the governor still refused to sign, you know,
16:38
gold and silver as legal tender or elimination of state's
16:41
capital gains taxes on gold and silver.
16:44
So this is happening right now. What are the forces behind this?
16:48
Why are the governor saying, I just don't give a rat's butt
16:52
what the people think? I don't care what my General
16:54
Assembly thinks. I think they're probably being
16:57
incentivized to say no to that. The governor and they've not
17:01
been able to pay off the entire General Assembly to stop it from
17:04
happening. But what I'm saying is there is
17:07
resistance to gold and silver legislation all over the United
17:12
States and in different ways. We dealt with that in Missouri
17:15
with, you know, our House Speaker, Dean Walker.
17:17
He simply wouldn't let it happen.
17:20
We couldn't even get it to the governor.
17:22
We did have a rumor that the governor would veto it if we got
17:25
it to him. But but any rate, it is what it
17:27
is. The resistance is there.
17:30
So to your point, I think of the people are getting angry,
17:34
they're getting upset. They want the option for gold
17:37
and silver. And I think when they find that
17:39
there's only one or two people behind stopping it from
17:43
happening, you have to assume the banks are somehow involved
17:47
with these people that are stopping gold and silver
17:49
legislation. But I think the very fact that
17:52
we had 27 states with gold and silver legislation last year, I
17:56
think that kind of answers your question.
17:59
The people want it. Yeah.
18:01
They actually want it. They let's put it another way,
18:03
Ron. They want the option.
18:06
Yeah. And, and that makes sense since
18:07
we don't have a central bank digital currency yet, right?
18:11
You know, simply because we don't have it here yet, but
18:13
folks in Australia and Canada look out.
18:16
You guys are going to be getting it within a year.
18:19
Yeah, yeah, I know. There's it seems like
18:20
Australia's leading the pack. Unfortunately, as you're talking
18:24
about the situation right now, it reminds me of when I, when I
18:28
dive into the history of our country, the book The Wizard of
18:33
Oz, right there was this there the bankers and at the time, I
18:37
believe it was the, the big bankers in London that were
18:41
pushing the United States to go away from using silver and the
18:46
money. And, and at that point it was to
18:48
just be on the gold standard as I understand it.
18:51
But there was all this, and there's memos that I've read
18:54
online, these, these memos between London and New York and
18:58
this real devious strategy to, to the D incentivize the D
19:04
incentivize this, the silverback system.
19:08
And it just, it feels a lot like what's going on now is this move
19:12
to go completely electronic and, and, and, and, and that there
19:18
may be some things going on, like you said, right?
19:22
Who, who would be opposed to this?
19:23
Why are these governors vetoing this legislation when it's
19:28
something that benefits the people and and that the people
19:31
want? And it's totally constitutional.
19:34
Yeah, Yeah. I mean, there there is not a
19:36
constitutional argument against gold and silver.
19:39
What I'm hearing, the arguments I hear, it's too expensive, too
19:42
expensive for us to take gold and silver.
19:44
No, it's not. So, and there's lots of ways to
19:47
do it. Another thing I hear is there's
19:52
no storage space or facility for our state to be collecting gold
19:56
and silver. Yeah, you know, that's the
19:58
thing. Texas got it right back in 2015
20:01
when they passed their legislation.
20:03
They're virtually hoarding gold and silver now.
20:06
And states are wanting to partake in that action because
20:09
Texas is talking about coming up with a digital way of
20:13
transferring gold and silver. And if everyone's working
20:16
through a central bank. Like Texas's depository, then
20:22
actually we could put up a secondary system.
20:24
I would much rather see Missouri have its own rather than joining
20:28
Texas. And in fact, I'll fight for that
20:30
and I'll try and make that happen.
20:32
But right now with the treasurer we have in the state of
20:34
Missouri, we'll never get a depository.
20:36
He is totally, 100% against it. So the states are starting to.
20:42
And by the way, there was, I think if I remember right, six
20:45
or seven states that were trying to get depositories in 2024.
20:49
No kidding, folks. I mean, that's how big this is.
20:54
They're looking for a way out of the Federal Reserve System.
20:57
They know what the Fed now program is about.
21:01
And they're very, very frightened that the.
21:05
OK, I'm sorry, Let me back up a second here.
21:07
This is actually a good point. OK, so if we go to a central
21:11
bank digital currency, I'll have a digital wallet.
21:13
Ron will have a digital wallet. You know, all of you out there
21:16
will get a digital wallet whether you want it or not.
21:19
You're going to have to have one, whether or not you use it
21:21
as irrelevant for this example. But what folks have to remember
21:25
is the state of Missouri will also get a digital wallet from
21:30
the fat. And if they don't behave, they
21:35
can start freezing funds in the state of Missouri, freezing
21:38
Missouri's funds all together. Even though this the funds may
21:42
come from the state as opposed to the federal government, the
21:45
state itself will become a slave to whoever controls the digital
21:49
currency. And if you're not doing the
21:52
right thing in your state, if your legislation isn't just a
21:55
little too much about freedom and liberty, you know, they may
21:58
shut down the wallet. So this is something people have
22:01
to remember. States know this.
22:03
They're generally, they're not very stupid.
22:05
I'm sure that California, by the way, California, I tried and I
22:08
tried and I tried to get legislation in California.
22:11
No one will carry it. They said it'll never get done.
22:13
It'll never happen. I'm not going to expend the
22:15
energy. So states like California,
22:18
Illinois, maybe New York, you know, the Minnesota, by the way,
22:22
is very blue state. It looks like the blue states
22:25
are less interested in the depository part of it.
22:29
But blue states won out of sales taxes on gold and silver.
22:32
They are working towards that. So they do want a certain amount
22:35
of freedom, but they don't want to replace the Federal Reserve.
22:39
So, and I'm just talking about blue States and, and by the way,
22:41
I'm not talking about the people, I'm talking about the
22:43
legislators and maybe the governors.
22:46
Yeah, Yeah. It's going to be interesting to
22:47
see the next 5 to 10 years how this whole situation develops as
22:51
we, you know, and on one end move toward a electronic, purely
22:56
electronic monetary system. And then on the other side, we
23:02
do have a powerful force of people who are pro precious
23:06
metals, pro silver and gold. And like you said, we have the
23:10
Constitution on our side as well.
23:12
So I think it sets up for, if there's a silver lining to the,
23:18
to the, to the black cloud of getting rid of cash, I think it
23:22
does set up this potential catalyst for a confrontation
23:27
between, you know, silver and gold versus pure electronic
23:32
money and could bring a lot more interest into the precious
23:35
metals. I just, I, you know, I think it,
23:37
I think it could in some strange way possibly be a good thing
23:41
for, for the, for the worlds of silver and gold.
23:45
And in regards to that, you were talking about the infrastructure
23:47
being laid down. You're talking about the the
23:49
pipes that were being laid down next to the houses and then
23:52
later there, you know, forced, you know, to take water from the
23:55
city. Well, in the same way, the free
23:58
market has actually been laying the groundwork in the
24:00
infrastructure for all kinds of different transact transactional
24:05
capability with gold and silver. Yeah, everything from gold
24:08
backs, you know, to, you know, UPMA with their debit card.
24:12
And I think other banks are doing that as well.
24:15
So you can do it electronically, you can do it with coins, you
24:18
can do it with gold backs. So all the options are still
24:21
available even on the gold and silver side.
24:24
So this is where depositories for billion banks are becoming
24:29
an extremely important part of this equation.
24:32
Here the free market must must be allowed to operate within
24:37
this gold and silver venue. We cannot have the government
24:39
taking over gold and silver. Yeah, and there's Kinesis, I
24:44
think there's one called load that's an interesting concept
24:48
because because there are the of the free market moving into this
24:54
area, right Being able to I think our friend Daniel Diaz
24:57
from Citizens for some Money likes to talk about making
25:00
silver and gold functional. He was the first person that I
25:03
heard say that in that and that the free market is is kind of
25:09
seeping into that arena. But just my opinion.
25:13
I've yet to, I think there's great OP of the products out
25:17
there, great systems that are being built, but I've yet to
25:20
feel like any of them has has has they're, they're growing,
25:24
but it seems like one of them is going to have to get some real
25:27
traction at some point, like real solid traction.
25:32
But that's just part of this process, right?
25:34
Of, of as we, as we kind of work our way through it.
25:36
I do know also interestingly that the World Gold Council is
25:41
working with the LBMA, our good friends at the London Bullion
25:45
Market Association, to also build an electronic blockchain
25:50
based system as well. And you know, look, I don't like
25:53
the LBMA and I don't really have a big opinion on the World Gold
25:56
Council one way or the other. But those are two big name
26:01
organizations that are also involved in, you know, high
26:05
level organizations that are also involved in what you're
26:08
talking about, right, the free markets moving in.
26:11
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26:14
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26:16
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26:21
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26:25
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26:30
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26:39
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26:42
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26:46
in demand precious and base metals.
26:50
And we have to, that's why I said we have to be very careful
26:52
about that aspect of things. LBMA, although it's, you know,
26:56
quasi private, but they do involve themselves in setting
27:01
the price of gold and silver with black water.
27:03
And so when you're talking about a blockchain with someone like
27:08
the LBMA or even the COMEX, remember now the the leverage is
27:13
huge on silver. And in fact, I saw it a couple
27:16
of weeks ago, I think it was 420 to one.
27:20
Now we're talking about the futures market folks when we're
27:23
talking about this kind of leverage.
27:24
In other words, they're selling 420 paper representations of a
27:30
single ounce of silver for a single ounce of silver.
27:34
And so there's 420 claims to that single ounce of silver.
27:38
When they do that, that's how they suppress.
27:40
Well, that's one of the many ways that they suppress the
27:42
price of silver. And if you look at the US debt
27:45
clock, you can confirm, you know what I just told you, what you
27:48
can also confirm is they're not going after gold anywhere near
27:52
as hard as they're going after silver.
27:53
There's something about this, you know, they silver is the
27:56
Achilles heel of the entire system for because of its
28:00
usefulness in industry. That's why and and also it's
28:04
getting used up so rapidly it's becoming rarer and at some point
28:09
the rarity of silver might match the rarity of gold above ground.
28:15
Now I'm I'm not 100%. Some people say we're there.
28:17
It's. Less.
28:18
It's less. Some people claim there's less
28:20
above ground silver and there is gold.
28:23
Yep, it's what I heard lately. So when they're selling futures
28:27
and they keep pushing down the price of futures, they're not
28:30
taking into account the inflation that the mining
28:33
companies are going through on fuel and manpower to get the
28:37
silver out of the ground. And so this is a very, very
28:41
dangerous game they're playing right now.
28:43
And we have seen before where mining companies have literally
28:46
boarded up some of their minds because they literally could not
28:50
afford to mine it for the price that was set by the LBMA, for
28:54
the price of silver. We have seen that in South
28:57
America before in the past. I'm not sure we've seen it and
29:00
anywhere else, but in South America we definitely saw that.
29:03
And I do believe a few places in Canada boarded up for about a
29:07
year when the price of silver went really low.
29:09
They couldn't afford to mine it anymore at current prices.
29:13
And once again that these are not free market prices gang.
29:16
These prices are set by the LBMA and by Black Rock.
29:19
That's how they do it. And they literally determine how
29:22
much silver is worth, you know, by literally pulling a number
29:25
out of the air. Gold is harder for them to
29:28
manipulate on that level, but but they do control gold to a
29:31
certain extent as well. But rich people tend to actually
29:35
invest in gold rather than silver.
29:38
And that's when they want physical, by the way, when they
29:40
when they just want paper, they'll do both.
29:43
So they don't want to piss off the rich people.
29:45
These are the people who are, you know, you know, contributing
29:48
to political campaigns. They don't want to piss them
29:50
off. So gold is not manipulated as
29:53
badly as silver is. Yeah.
29:55
And you know, there's there's few things in life that we know
29:58
for sure. But when it comes to silver, we
30:00
do know for sure that the world is demanding on an annual basis
30:06
more silver than the mining companies can produce.
30:10
We also know that the mining companies are producing a
30:13
smaller amount less silver every year.
30:15
It's not dramatic, but they are producing less and less silver
30:18
every year. So the world demands more silver
30:21
than the miners can produce. And we also know for sure that
30:25
we don't know what the exact amount is, but there is just a
30:28
finite amount of silver that's in the surplus fund that's being
30:34
drawn upon now for the last four years.
30:37
So we know that eventually at some point if these trends
30:41
continue and if the demand for silver continues to increase, we
30:46
will run out of silver at some point, right.
30:49
Nobody knows for sure the exact date of when it is, but if these
30:53
current trends continue where we have a decrease in production
30:57
and increase in demand and this above ground, I call it the
31:01
silver slush fund that they draw upon every year is getting
31:05
smaller and smaller and smaller. At some point we have a.
31:09
Silver Shortage First Mining Gold is a development company
31:13
advancing 2. Of the largest gold projects.
31:16
In Canada, Spring Pole in Ontario and Duparque, located in
31:20
Quebec, each already has 5 million ounces of gold reserves,
31:26
but exploration initiatives are underway at.
31:29
Both. Projects to find even more gold
31:32
First Mining is well financed, has zero debt and owns an
31:36
interest in four additional Canadian gold development
31:40
projects. Actually, technically, I think
31:42
we technically, I think we do have a silver shortage already
31:46
and peak silver, forgive me, I think that was 2015 and that was
31:52
the 2015 was the last year they were able to maintain those big
31:56
numbers. And that was after high grading
31:58
after 2009, 2010. And and by the way, when silver
32:03
went up in 2011, I'm not sure that anything to do with the
32:07
rarity of it or anything to do with getting it out of the
32:10
earth. I think that had to do with the
32:11
Euro looking like it was failing the pigs nation.
32:14
You remember because Bitcoin went up at the same time.
32:17
And I think that was correlated. However, I will say that I do
32:23
believe that basically the high grading is, you know, just about
32:29
done now. They're going to have to start
32:30
low grading and leaching mines to get every last bit of silver
32:35
out of them. And I don't think they're
32:36
developing a lot of silver mines anymore.
32:38
We're going to probably end up having to go into the ocean to
32:40
get silver probably within the next 10-15 years.
32:44
We, we, we could be moving into a golden age for Silver Pat,
32:48
because you're exactly right, there are very few companies
32:51
that are exploring or developing new silver mines.
32:55
So if, if this all comes to fruition and we do, you know,
33:00
the, the, the price, the, the actual price discovery is based
33:05
upon the physical market, we do get a, a, a, a big increase in
33:10
the silver price there. There's no pipeline.
33:13
That's not like there's a switch they can turn on and say, well,
33:15
now we can make twice as much silver.
33:17
I mean, there's some small modifications, but it's going to
33:20
be AI like to say A6 to 12 year gap for the mining industry to
33:25
even start to catch up. And if the demand continues to
33:29
go up because it takes you know, if you're going to explore for
33:32
silver, you don't know you're that you're going to find it.
33:34
It takes millions and millions of dollars to just do the
33:37
drilling. You don't know for sure that
33:39
you're going to find silver. If you do find it, then you have
33:41
to go through a a multi year permitting process.
33:45
Then you have to go through a multi year process of building
33:48
the mine and then you got to hope that the mine actually
33:51
produces what you thought it would produce based upon.
33:54
So there could be a big gap, you know where where the silver
33:59
price is is forced to go much higher just to to compensate for
34:04
the fact that that the supply will be significantly lower than
34:08
demand potentially don't make any financial decisions based on
34:12
anything. Yeah, but that's that's actually
34:14
technically, that would be the free market forces beginning to
34:17
assert itself back into the silver arena.
34:20
And, you know, for silver miners, God love them.
34:22
I mean, they put up with a lot of crap.
34:24
And we all know this. And Mitt, Ron, you talk to them,
34:26
you know what I'm talking about. But the fact of the matter is,
34:30
at some point there should be a little solidarity between them,
34:33
like you and me with our red shirts today, right?
34:36
And they should stop producing so much silver until they raise
34:40
the prices to to a livable wage for those who work in these
34:44
companies. These companies can make a
34:45
little bit of money. The gold companies are doing
34:48
quite well, folks. But silver, those who are just
34:51
involved in silver are not doing so well.
34:54
And those that have silver as a by product, you know, are
34:57
actually making out like bandits because they are bringing up
34:59
stuff like copper's worth a lot right now.
35:02
You know, we've not even talked about copper, but the gold and
35:06
copper and possibly zinc are probably the primary ones that
35:10
bring up silver as a secondary product.
35:13
And these guys are, you know, doing very well on their other
35:16
metals. That's how they're able to keep
35:18
suppressing the price of silver because these guys produce, I
35:21
think it's 70% of the world's silver, you know, second
35:24
secondary mining. And so, in other words, what
35:28
that means is they're not digging in the earth to bring
35:30
out silver, but they are taking it out along with whatever their
35:34
primary metal is that they're trying to, you know, extrude,
35:37
you know, in this case, gold or copper.
35:40
Gold and silver mines are always bringing up silver it seems
35:42
like, and in some cases zinc mines.
35:45
And zinc, yeah, zinc, lead, copper from the base metal
35:49
perspective. But what's even a little more
35:51
interesting before I keep you on this for for too long, Pat, but
35:55
what's even more interesting is that I heard Ross Beatty and
35:58
I've heard other people say this as well.
36:00
The copper, the new copper mines are much deeper.
36:04
Copper's also becoming increasingly difficult to find.
36:08
So it used to be that the easy copper, the easy to mine copper
36:13
always had a lot of silver that kind of coexisted with it.
36:16
These newer, deeper mines that they have to build for copper,
36:20
there's hardly any silver or much less silver that coexist
36:24
with the copper. So.
36:26
Yeah, we can't even maintain it copper standard for a monetary
36:29
standard in the United States. We can't because our pennies are
36:33
made out of zinc. Now it's like 3% copper to give
36:35
it its color, you know. But so we guys, that's a good
36:40
point to hear on on for Ron's basement folks. the United
36:44
States is is so bad off financially.
36:47
We can't even maintain a copper standard in our change for our
36:50
pennies. We can't maintain that anymore.
36:53
Why? Because the copper is worth more
36:55
than the pennies, that's why. So this is how bad things are
37:00
getting. I'm sorry, I didn't mean to
37:02
interrupt with. No, you're, no, you're fine.
37:03
Because what like 1984 and earlier pennies I think have are
37:07
made out of copper. And that's right.
37:09
Yeah, and the like the penny, I don't forget what it is, but
37:12
it's worth more than a penny from what I understand.
37:15
Because of this 1.4 cents or something like that if the penny
37:19
were made out of copper now. Yeah, right.
37:21
Yeah, I got to run pad. I got to go dig through my
37:23
change drawer. And that's right.
37:25
I'm a copper, I'm a copper stacker, and it's always, always
37:27
great when you join us. If people want to learn more
37:31
about you, they go to mofree.org.
37:34
That's right. Yep.
37:35
And we're about ready to start writing our silver and gold
37:38
legislation for Missouri. We'll be sharing this with other
37:41
states. We're going to make it real
37:43
easy. We'll put it on our website.
37:45
But when we have our legislation ready to go, I will definitely
37:49
let you know. Wrong.
37:50
OK, so folks all over the United States can just go right to our
37:54
website. Get a copy of of what's actually
37:57
going on, you know, basically with the legislation and see if
38:02
they can find someone in their state to run that legislation.
38:05
And let's let's top 27 states. I mean, 27, that's huge.
38:09
That 27 states, pardon me, going for silver and gold legislation
38:14
simultaneously. That was massive.
38:17
I don't think there's there's ever been anything like that
38:19
before. What happened in 2024?
38:22
Let's hit 30. Yeah, somebody, somebody needs
38:25
to put a map up on the Internet of the United States with each
38:28
state and kind of a, you can click on each state and see
38:32
where they are in the gold and silver movement.
38:34
I think that'd be a fun thing for for people to get to check
38:37
out. I talked to the 10th Amendment
38:39
Center and they're thinking about doing that, Yeah.
38:42
So yeah, I think that would be a good idea as well.
38:45
Yeah, yeah. We could have silver and gold
38:47
States and then, you know, the states.
38:49
I know California wouldn't have much color to it.
38:52
But hey, thanks, Sharon. Little, little by little, you
38:57
know, on behalf of myself, Pat, all the silver and gold stackers
39:00
across the United States, around the world, you've worked
39:04
tirelessly. I know here in Missouri, right,
39:07
Right in the center of the United States, but you've also
39:09
helped out on a national basis on many different levels and
39:12
many different ways. And, and you do that.
39:15
What's the right term, pro rata? You aren't out there being
39:18
sponsored or, or making money off this in any way, shape or
39:21
form. So thank you.
39:23
OK. And you're loved here in Ron's
39:26
basement. You know, you're always welcome
39:28
here. And we'll look forward to
39:30
talking to you next time. All right, Ron, thank you very
39:33
much. I appreciate being back and just
39:37
I wanna actually renew my relationship with that bear
39:39
right there because that's the first time I've seen its size,
39:42
so. And that is really cool.
39:45
But you know what? We gotta do something for
39:47
Smitty. Yeah.
39:48
We gotta do the Silver Bear Smitty here, right above my
39:51
there he is right, $85. And yesterday Peter Grandage
39:55
said it's going to take a little while, but it'll it'll happen.
39:58
So we'll, we'll keep an eye on him.
40:00
Well, there's lots and lots of little things happening in the
40:02
background that may end up being major worldwide events that may
40:06
raise silver price. You know, to the point where
40:08
Smitty will see again. You never know the brick nations
40:11
you. Know that's right?
40:13
And stuff like that. But Ron it it's, it's been a
40:16
long time and I'm very, very glad to be back.
40:18
I was travelling for a while, as you know, but I am back home
40:21
now, so it's time for me to get to work on silver and gold
40:24
legislation. Sounds great, Pat.
40:26
Thank you. Thank you, Ron.
40:27
Have a good day.