Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⚡$248 SILVER⚡- You Best PAY ATTENTION to This! ⛩️ (Gold Price Also)

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⚡$248 SILVER⚡- You Best PAY ATTENTION to This! ⛩️ (Gold Price Also) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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$248 silver. If that number shakes you, if
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you don't believe it, you might just be a believer.
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I think you will be a believer after you see the next chart
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that I'm going to show you. But also, is all the silver in
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the world about to be gone? We're going to listen to what
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Elon Musk is saying. And I think you'll clearly see
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after we explore what he's talking about that we could be
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in a situation where there really is hardly any silver left
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sooner as opposed to later. But as we know, the laws of
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supply and demand can kick in and price fixes everything.
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Let's dive right into $248 silver and a brand new exciting
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chart that indicates to us that that could be on the horizon.
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But first, thank you for being here.
0:53
You, yes, I see you, right. We are here together in the
0:57
basement. Basement dwellers are the most
0:59
important part of Ron's basement.
1:01
I appreciate your time. Please subscribe to the channel,
1:05
turn on the notification, give the video a thumbs up.
1:08
Super chats, all that stuff are always super appreciated.
1:10
But let's dive right in to this exciting indicator that is
1:15
showing us. How we can?
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Easily get to 248 dollars silver, I mean super easy.
1:21
This comes from our friend Gladdy.
1:24
He looks at commodities, technical analysis and cycles.
1:28
He says for silver, the big breakout level using the yearly
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time frame is 31 to $32 per oz. Knock, knock, knock.
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We're there right now. One of the most significant
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breakouts in history is in the making.
1:45
We're hearing this from everywhere, right?
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The cup and handle formation, the biggest one in the history
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of the. Universe then in yellow he says
1:54
that is really one very very good looking chart for silver.
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Let's pull it up and I'll explain to you what we're
2:01
looking at here. Guys, this is called.
2:04
A. Candlestick chart.
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So each of these lines, candlesticks, these are called
2:09
candlesticks represent one year in time.
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You can see 1974. This one right here would be
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1980. OK, each represent one year in
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time, going all the way up to the present.
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We're going to talk about the cup and handle.
2:24
But again, here's the cup and handle.
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But what's different about this is this is a yearly chart.
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Now, 30 seconds of education for those of you who don't
2:33
understand how to read a Candlestick chart.
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If it's black on this chart, that means it was a down year.
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If it's white, like this year 82, that was an up year.
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So the big chunky part, the Candlestick part on a down year
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represents the top of the of the chunky part represents where
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silver opened on January 1st. The price that it opened at in
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the bottom is where it closed the little Wicks on either
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direction that would be the the high for the year.
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So silver opened right there at the top of the chunk when as
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high as that, closed at the bottom of the chunk, but also at
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some point during the year went as low as that.
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Then you can see the next year, the white Candlestick, that's an
3:23
up year. So silver opened right here, OK,
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closed right there, got as low as all the way down there during
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the course of the year, but got as high as that.
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And then the next year was a down year.
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So where it closed at in 1982 is where it opened at in 1980.
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Three it didn't get. As high during the year as that,
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but wound up closing at the bottom of the chunk, but got
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down there. OK, Hopefully you understand
3:50
what you're looking at here. These are yearly numbers and on
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a yearly chart, OK. From a Candlestick perspective,
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we clearly see the cup and handle.
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This is different than just looking at the price over the
4:04
course of the year and we can see, I forget what that's
4:08
called, not the neckline, but the top line, which is right at
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the 31 to 32 level. Now how you read a cup and
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handle chart is this. If you go from that top, the
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rim, I guess you would call it all the way down to the bottom
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of the cup, that's an 827% difference.
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That means that when it breaks out over here, that's how high
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it should go, 827% up. If we take 800%, OK, we're going
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to bring to average down a little bit, down by just not
4:45
827, but just 800%. And multiply that by the current
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31 price, we come to $248 per oz.
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And a lot of people look at these yearly Candlestick charts.
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Now what's also double crazy interesting about it is sure,
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here's the cup, here's the handle.
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But within the handle, as we've talked about several times,
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there's a cup and handle embedded within the handle.
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And here is where we are right now.
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It is so critical, guys, that we stay above this $3031.00 per oz
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level and silver, OK? He says up here, the mother of
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all, the mother of all very probable cup and handles, the
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mother. All the top analysts are saying
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this. This is like the.
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The epic all. Time biggest cup and handle in
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the history of of the planet universe, whatever equals the
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bigger the base, the higher in space again, meaning this 800%.
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That's how high we should go. It is going to get very, very
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interesting in the silver market.
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In the coming years. Wow, Thank you Mud for the Super
6:00
chat, my friend. Super appreciate it.
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Let's pull you up, OK? We've got so much to look
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forward to and on top of it all. Are we facing a major what is
6:10
Elon Musk telling us that to me indicates it's unbelievable
6:15
what's going to happen with the demand for silver and we know
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the supply is going on Let's go check out what Elon saying
6:22
again. Thank you for being here leave
6:25
comments. Thank you for the Super chat Mr.
6:27
Mudd. Let's run over and see what Elon
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love him or hate him right. The guy's very successful, very
6:34
innovative, very smart, and I'm not a a big super fan, but I
6:38
always, he's listened to what he's saying and what he's
6:40
telling us now to me indicates we are in for some very, very
6:45
crazy times within the silver market and here we go, Elon
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tweeted. Once you understand the
6:54
Kardashian scale, it becomes utterly obvious that essentially
6:59
all energy generation will be solar.
7:05
Also, just do the math on solar on Earth and you might figure
7:09
out that a relatively small corner of Texas or New Mexico
7:14
can easily serve all US electricity.
7:18
Guys, solar is happening, and it's not just we got some Solar
7:22
is happening at a massive scale in the world right now.
7:27
Every solar panel has. Silver in it, 2/3 of an ounce,
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all the new to make it even more exciting, right?
7:36
And what's what gets us even more exciting about silver and
7:39
solar is the fact that the new technology, the next generations
7:44
of solar panels will have silver in them, but on top of that,
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they will have even more silver than the current generations.
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All the new tech, Provosky, whatever, all that, all the
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reports that I'm reading now, no guarantee.
8:00
Right, But all the reports that we're seeing say that that,
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number one, the number of solar panels are exploding.
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And wait till you wait till we look at this data that we have
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coming in and #2 not only are the number of solar panels being
8:13
produced exploding #3 each of those panels, the new technology
8:19
is going to have more silver per panel.
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It's really crazy. I don't know where they think
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they're going to get all this silver from.
8:27
It's just absolutely astounding. On top of that, demand for
8:31
electricity throughout the world continues to explode, right?
8:36
You've got like hundreds of millions of people in India
8:40
coming into the consumer class. It's very, it's astounding what
8:44
we're looking at. And at the same time, the amount
8:47
of silver being produced is going down, down, down.
8:50
Let's see what Yahoo Finance has to say about this most recent
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Elon Musk bombshell. Here we are at Yahoo Finance
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where they have a headline. Elon Musk says the world isn't
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using the sun's energy enough because most people don't do the
9:10
math. All energy, all energy
9:12
generation should be solar. There's our silver friend Elon
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Musk. He's a he's a fan of silver.
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In a series of posts on Thursday, Musk, known for his
9:22
visionary ideas, reiterated his belief in solar energy's
9:27
potential to meet our civilizations power needs.
9:33
There's the tweet we just read, OK.
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He also said this one square mile, one square mile on this on
9:40
the surface receives about 2.5 gigawatts of solar energy.
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That's gigawatts with AG. It's roughly 30% higher in space
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star length. So we can even, I mean, it's
9:52
unbelievable. Solar is solar is the future
9:56
must further explain that a small portion of Texas or New
9:59
Mexico could serve all of our energy needs.
10:02
He also highlighted solar energy received by one square mile.
10:05
We just read that OK. He suggests that the amount of
10:09
solar energy received by Earth could power a civilization 100
10:15
times larger than ours. OK.
10:18
He also noted in August of 2023. This is where it gets super
10:21
interesting. This is where it could get even
10:23
more interesting for Silver that the intermittent nature of wind
10:27
and solar power makes stationary battery packs at utility scale
10:33
increasingly important. That's what they need to figure
10:36
out next. Because solar and wind, for
10:39
instance, aren't constant, right?
10:41
The sun's not always, always shining.
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That we need to find a way to store all this and very likely,
10:48
I mean, isn't it like every time we turn around when we hear
10:52
about something that relates? To energy or technology or
10:57
batteries that it always includes silver.
11:02
Maybe somebody? Maybe one of your basement
11:05
dwellers? Needs to tweet back to Elon that
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hey, you may want to talk to Samsung because they just
11:10
developed a solid-state battery that uses a ton of silver,
11:14
right? That like blows away the
11:16
batteries that you're using in your Tesla cars right now.
11:20
Very likely we will see silver incorporated as a critical
11:24
component within these batteries that will be necessary to store
11:29
the intermittent power generation nature that we get
11:33
from solar panels. Oh my gosh.
11:35
I mean all the silver. What is the car?
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And I, we used a fancy word there, the car Rodashev scale
11:42
that was proposed to quantify as a Russian guy, the relationship
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between energy consumption and the development of a
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civilization. Thank you, Jason.
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Wow, man, you guys are that's thank you for Ronnie and Susie.
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I owe Susie $2.50. Thank you, Jason.
11:59
Thank you Marshall. It's very interesting.
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Now, according to the Silver Institute, darn it, I don't have
12:05
this prepared to pull up for you guys and hold on here.
12:12
According to the Silver Institute, silver demand for
12:16
solar panels is projected to represent about 19%, we'll say
12:22
20% of global silver demand this year, equivalent to 232 million
12:28
oz. I.
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Broke out the calculator. I took 232 million oz.
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That'll be needed for solar panels.
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And don't forget, don't don't forget when that silver goes
12:40
into those solar panels, bye bye for 20 years, OK, now 232
12:45
million oz for solar panels. And if you divide that by the
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850 million oz that are being produced by the mining sector,
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that's almost 30%. I was wrong, I apologize.
12:57
I was saying one in four. It's now.
13:00
Three out of 10 of every ounces of silver coming out of the
13:04
ground. And does it make sense?
13:05
And it's not just. I mean, it, it's not just Elon
13:09
Musk talking about the United States here.
13:11
Let's pull up a couple quick headlines because it's we're
13:14
getting bombarded by the solar story right now here.
13:19
This is from our friends at Reuters.
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Is it India? And wait till you see the next
13:26
chart we have. Hold on here.
13:28
Come on. There we go.
13:29
From Reuters. India seeks 6000 megawatts of
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peak renewable power supply with storage right there.
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That picture, we looked at this yesterday, you're looking at a
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giant silver stack each one of those panels, right?
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Just think of a, think of a 20 gram bar of silver, right?
13:48
Each one of those panels and they go on forever.
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India is seeking bids. So the Indian government is
13:55
saying please help us to supply 6000 megawatts of electricity
14:00
from renewable energy power projects.
14:04
So does this make sense? Let's go to the next chart.
14:08
This comes from Tavi Costa, the smartest guy in the room.
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Tavi knows more about precious metals.
14:14
He's one of the top ten. He's part of the royalty.
14:17
OK, India imports. This is the first time I've
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actually visually that we've seen this presented visually.
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India silver imports 12 trailing month data updated monthly U.S.
14:32
dollar millions chart. We are at record all time levels
14:36
for India importing silver. I think it was like so far this
14:41
year, I believe easily over 250 million oz.
14:46
I mean. The solar industry and these two
14:48
overlap, right? 230 million India alone
14:52
importing who knows what it'll excuse me be by the end of the
14:56
year, 300 million ounces of silver.
15:00
Let's get out our crayons guys quickly and just indicate I want
15:05
you to look at this chart going back to 2003.
15:10
Do you see is that is that stop that right there.
15:16
Boom, Wow, that was perfect. Do you see a trend?
15:19
Sure, it's gone up and down, up and down, but do you see a?
15:22
Trend. This is 1 country, 1 country
15:27
importing. OK, unbelievable.
15:31
Hold on. There we are.
15:34
I see you. Thank you, John Stack on.
15:37
Yeah, baby, 1 country importing that much silver.
15:41
I mean, we know they're buildings.
15:44
It's. I'm telling you.
15:45
And there was some Scottish bank, remember that?
15:49
A Scottish bank that predicted that like, solar would use up
15:52
98% of the world's silver by the year 2050.
15:56
I mean, that's not that far away.
15:58
And guys, the only thing, there's one thing.
16:03
That fixes the situation. And that's $248 silver, that's
16:09
$98 silver, that's even $68 silver in today's dollars right
16:16
now dollars, right? You get 60. $8 silver, Sure.
16:19
There's going to be companies scrambling right to scrape the
16:24
bottom of the barrel, and that's really what they're going to be
16:26
doing because there's just not a ton of silver out there.
16:30
The only thing that's going to fix this?
16:33
Is price. Price fixes everything.
16:36
That's a fact. Supply and demand.
16:39
And when the paper Unicorn fart dust, electronic comex and the L
16:44
the LBMA, the London Bullion Market Association, right, who
16:48
we know has manipulated down the price of silver for decades.
16:52
We have a, a document that was released, I think it was part of
16:56
the WikiLeaks where they said back in the mid 70's, the LBMA
17:00
said to the US authorities, hey, yeah, we'll start this futures
17:05
market and, and, and we'll induce volatility into the
17:09
precious metals futures market. And that will discourage
17:13
citizens from investing in and holding precious metals when
17:18
that gets broken. OK.
17:20
And it's going to get broken because guess what?
17:23
It's a different world. It's bifurcated.
17:26
Bifurcated. Do you know what that means?
17:29
Yeah, I had to look it up. Bifurcated means split.
17:32
It's a split world. It's not just London and the
17:36
United States ruling the entire financial world.
17:39
No, now there's this little thing called bricks.
17:41
Yes, they're having a meeting here at the end of October and
17:44
it's a different world it really.
17:47
Is different and the only thing that's going to fix this massive
17:52
imbalance that we're going to see in the silver market is
17:56
price, price fixes. Everything mathematics shows no
18:02
forgiveness on the altar of truth.
18:06
It's time to put some boots on the warehouse floor.
18:11
It's time to make some feathers fly.
18:14
I don't have any more for you, but none the less, let's get
18:19
back to this. What about Australia?
18:23
What we're going to wrap up here on the solar?
18:25
It's on guys. There is not enough silver in
18:30
the world. World's largest solar.
18:33
World's largest. The say that with me, we'll say
18:41
it one more time. Basement dweller slow world's
18:45
largest solar project will send Australian energy to Singapore.
18:52
Look at the map over here on the right.
18:54
The world's I I don't know. I'm speechless.
18:59
OK. I think we looked at this
19:00
yesterday, but here build the world's largest solar farm on a
19:05
remote island in Australia. It will also include the world's
19:09
largest battery. So I want you to think of one of
19:13
those AAA here, I'll show you here.
19:15
Hold on world largest battery that will include silver.
19:19
I mean, I'll get out grandpa's clock.
19:21
You know my grandpa's dead OK, He was a great guy.
19:24
He lived to be 90. He told me he was 85.
19:26
He was ready to be dead. But my now deceased grandfather,
19:30
right. I did inherit just a few things
19:33
from him, one of which was this Timex clock OK, and if you look
19:39
in there and it's. Still.
19:40
Running. I mean, he died 10 years ago.
19:42
My mom's probably watching the She knows.
19:45
And it look at that battery, OK. Now think about the.
19:48
World's largest battery, because that's what they're going to be
19:51
building. And I would imagine it's
19:52
probably going to have some silver in it, OK.
19:55
The new solar technology that they're going to be using in all
19:58
these farms, we can't reiterate this enough.
20:02
We'll have more silver per panel.
20:07
OK, It's silver. It's everywhere.
20:09
Solar. This is hilarious.
20:10
So I'm driving this morning. I go on Sunday mornings, meet
20:13
with a group of friends every Sunday morning.
20:15
I don't know, Kind of like my version of church, I guess.
20:17
Whatever. And I'm driving there.
20:20
I'm on this road, Fifi. And I saw this.
20:22
Let me show you this picture quickly.
20:23
And I, I risked my life. I like, swerved out of the lane
20:27
to take this picture. This is on Fifi and Olive in
20:29
Saint Louis and I'm thinking I'm like it's everywhere.
20:33
I'm always thinking about this, but look at right in.
20:34
The middle of that. Picture it's one of those like
20:36
temporary sign things and what do you see?
20:39
Silver bars. Do you see 10 actually
20:43
12345678820 gram silver bars. But what cracked me up about
20:50
this picture is again, this is right at.
20:52
Fifi and olive here in Saint Louis.
20:54
Behind it is a massive electric substation and I'm thinking
21:01
they're even using solar and it's pointing to the South,
21:05
right? Why aren't they just connected
21:08
to like this? It's a massive, I mean, like, I
21:11
wouldn't want to go over that. Fence, but the the solar panels
21:14
are everywhere. Don't worry, I got more pictures
21:16
for you to share later, but let's move on.
21:20
OK, here I have something to read for you, it feels like.
21:24
Let me ask you if it feels this way to you.
21:27
Solar demand alone makes for a good five years ahead for you
21:31
and me, us basement dwellers, silver stackers.
21:35
But if investor demand, forget about solar.
21:40
Solar smaller investor demand wakes up from the dead Oh, it's
21:47
almost October. Time for the spirits to wake up
21:52
from the dead. Watch out for the silver price.
21:55
OK, I'm going. To be upstairs, no more
21:57
basement. Watch out, because when investor
21:59
demand comes back, it will be a confluence.
22:03
Now a confluence means a coming together of several factors.
22:08
Supportive at once. It'd be like if if silver was a
22:12
sailboat and it's in the lake and you and I are sitting on the
22:14
silver sailboat together with our silver.
22:17
OK. And suddenly the solar wind
22:20
catches our sails and we start to move.
22:23
But then from the other side, the investor wind catches the
22:28
sail as well and we start to move.
22:30
Very, very fact. That's the secret factor.
22:33
That's the factor. That nobody's really talking
22:37
about but guess what guys? I got some bad news for you,
22:41
investor. Demand for silver has been down
22:44
the last few years down Yeah, you are I mean, and that makes.
22:48
You did you buy silver in the last few years?
22:51
I bought some silver. I told you guys yesterday one of
22:53
the things I bought was this 1.6 oz point whatever 110th of an
22:58
ounce. The UK Britannias with King
23:01
Charles on them and I've lost this and I just found it, but I
23:04
bought a lot of other silver as well.
23:07
Look, that makes you elite. That makes you smart.
23:10
If you were buying over the last two years when nobody else was
23:13
when the price was 2122, OK, because when the investor comes
23:17
back, Katie bought bar the door because remember, critical,
23:23
critical thing for us. That's a fact right now.
23:26
This is we can talk about what might happen with with solar.
23:31
We can talk about what might happen with investor demand,
23:36
both of which are very. Positive.
23:41
But what really puts boots on the warehouse floor?
23:44
One thing, one thing only. And that is the absolute
23:49
statistical mathematical math shows no forgiveness on the
23:53
altar of truth. Math doesn't lie that every year
23:57
we have a deficit. We're in the fifth year of a
23:59
deficit in the silver market. Oh, what does that mean, Ronnie?
24:05
That means that the world is demanding more silver than the
24:09
world can supply because the mine output is down.
24:13
And then when you add the little bit of recycling on top of that,
24:16
there's like I think last year was what 219,000,000 oz more
24:21
silver demanded that can be supplied.
24:23
That's not the fact. Jack, there's that a very
24:28
important mathematical truth fact, OK?
24:33
And I'm going to spill it. I'm going to spill it right now
24:36
to you, OK? The fact is, there's number one
24:43
only so much silver in total on the whole planet.
24:46
We know that already. Of all that.
24:48
Silver that's everywhere, you know, maybe in the your
24:51
backyard, dirt, whatever. There's only so much above
24:55
ground silver, period. That's a fact.
24:58
All right, we don't we don't know for sure what that number
25:01
is, but there's only so much silver on the above ground right
25:05
now. We know that every year that
25:08
amount, because there's a deficit, is being drained.
25:12
So by the laws of simple mathematics, eventually, and we
25:16
call that the slush fund. Some people maybe call it the
25:19
surplus, whatever. That includes your silverware,
25:22
you have your silver necklace, your silver rounds, whatever.
25:27
There's only so much and it's being drained and it's only
25:30
going to last for so long. That's the good news.
25:32
Now, if you want to get your hands on some gold, silver,
25:35
platinum, anything like that, hold on here.
25:39
We need to say thank you, right? We've got. 800 basement dwellers
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26:17
last year and a half. I ask you to.
26:19
Please. Just consider them, I'll never
26:21
tell you what to do, but throw them into the mix.
26:22
Next time you're looking to buy some gold, silver, platinum,
26:25
compare what they can do for you compared to the other big online
26:28
bullion dealers and or maybe your local coin shop and give
26:33
them a shot. Thank you Pembacs for sponsoring
26:35
Ron's basement. Thank you guys.
26:37
This is crazy 700, we have a big tradition.
26:41
It's Sunday morning. Time to wake up.
26:43
I'm gonna ring the 200 thumbs up bell.
26:46
Thank you. Thank you to the.
26:49
Moderators who are here, we got a lot.
26:51
More to talk about Baby, but thank you to the moderators.
26:55
Jake from Jakes Custom Parts, Annie Oakley, Big Tim, the
26:58
Silvershire and the One and Only.
26:59
Susie. Silver Susie, Everybody say hi
27:02
to Silver Susie. She's in the house.
27:05
She's the best wife in the world.
27:07
I love her dearly. If I talk about her more, I
27:09
might just tear up. And you're not here to watch me
27:11
cry. We're here together.
27:14
Right, to help each other. I need your help.
27:16
I thank you guys for the emails you send me.
27:19
Thank you for the Super chats. Thank you for the comments.
27:23
That's how we learn. You matter, right?
27:26
You got a good head on your shoulders.
27:28
Google tells me that they send me the analytics.
27:30
They're like your audience. Yeah, they're above average
27:33
intelligence. Well, maybe they don't directly
27:35
say that, but I read between the lines.
27:37
OK, none the lesson we want to hear from you.
27:40
Leave some comments, leave your thoughts.
27:42
That's our best chance for helping each other.
27:44
What about China record? Is there a record silver price
27:50
in China? Let's go see what the Oriental
27:52
ghost is telling us. And this is no ordinary.
27:58
Hey. Wait a minute, it's almost
27:59
October. Wrong one.
28:01
Bear with There we go, the Oriental ghost.
28:04
It's almost October. The sheeple will be waking up in
28:09
October. Get your silver and gold before
28:11
it maybe is all gone. But it's October.
28:15
The month of. The ghost in the Oriental ghost
28:18
and he tells us China's largest e-commerce sitejd.com from what
28:23
I understand, I live in Saint Louis.
28:26
I don't know where you live, right?
28:28
We you don't live in China because YouTube's not allowed in
28:31
China, but butjd.com is the Chinese equivalent to Amazon.com
28:38
and a lot of people buy their precious metals.
28:40
They're the best selling silver material bar has reached a price
28:45
of CN¥8 per gram for the first time today.
28:49
For the first time, equivalent to approximately $35.47 U.S.
28:58
dollars per oz. Very.
29:00
Very interesting. The price of silver in China,
29:04
physical price continues to be significantly above that of the
29:09
United States. We know from the Shanghai Gold
29:11
Exchange, typically it's at least a dollar, sometimes two or
29:15
three dollars higher per oz in the Shanghai.
29:18
And I emphasize the high in Shanghai because it's always
29:22
higher. Right.
29:24
But what's critical is that the Shanghai Gold Exchange is a
29:28
physical market. There's a little difference
29:31
between the Shanghai Gold Exchange and the COMEX.
29:35
The crime X. Is it crime X or come X?
29:38
Is it, is it Jerome Powell or Gomer Pyle?
29:41
Surprise, surprise, surprise Sergeant Carter.
29:44
I got to, I got to lower rates. Oh, surprise, surprise, surprise
29:47
Sergeant Carter. Right.
29:49
Inflation is out of control. None the less, I got off on a
29:52
little Ted Ted tangent. The reality is one thing, the.
29:58
Physical market in China where it's real physical has a much
30:03
higher silver price. The physical market in China is
30:06
now bypassing this is that they don't want you to know this, but
30:10
it's from what I hear from some. Very trustworthy sources.
30:15
The Chinese are bypassing the COMEX and the LDMI, the London
30:20
Million Market Association. How could they do that?
30:22
We control the metals markets. We control them.
30:26
You Brits, No, you don't. The Chinese are saying no thank
30:31
you. OK, we'll we'll we don't need
30:33
you to be the middle man anymore.
30:35
We will go directly to Mexico, the world's biggest producer of
30:40
silver. They treat us better.
30:42
And we'll buy the do Rey bars. We'll buy this.
30:45
We'll buy it directly from. Mexico.
30:47
Huh. Yeah, imagine that.
30:50
They're losing control. They're losing control.
30:54
The Comex. Crime X The LBMAI need to come
30:58
up with something for the LBMA loser boy.
31:02
I don't know, I'll think of that later.
31:04
Anyway, they're losing control of the price of silver, $248
31:10
silver. OK, we got. 800 people, we're
31:12
almost at the limit. I'm going to lock the basement
31:14
door in one second. Let's all have a drink of
31:16
coffee. And we got more to talk about a
31:18
gold shortage. I didn't even tease you with
31:21
that. A shortage in gold?
31:24
I thought you just talked, no? I wear silver.
31:26
I love silver. I have silver shirts.
31:28
I got silver. I love silver.
31:30
Here. This is how much I love silver.
31:32
I have silver heart. Well, that actually belongs to
31:34
Susie. That was a a a Valentine's gift
31:38
a few years back. It's from people always ask me.
31:42
I can't read it. What's that say something Bison
31:45
bullion. It's really cool.
31:48
It's 3 ounces of silver and I oh, there it is.
31:50
And when I bought it, I think I only paid I think I paid like 90
31:54
bucks and that was a high premium.
31:56
So anyway, let's have a drink of coffee.
31:59
It's come back gold shortage. Let's take a little breath.
32:03
All right, Sunday morning like something positive.
32:05
I'll be right back. Some of you may prefer that I
32:20
leave the microphone. Off, but nonetheless.
32:23
Peak gold. Gold shortage, supply, demand.
32:28
Let's run out. Let's run out.
32:30
And I believe this comes from one of our favorite people in
32:33
the whole wide world. And does it?
32:37
Does it? Nope.
32:39
But we like you too, Jordan. I thought maybe that was from
32:41
our friend Neils Analyst Warn of peak gold by 2026.
32:48
We covered this story briefly a few weeks ago, but Kitco added
32:52
some more interesting data. Peak gold.
32:56
What does peak gold mean? Let me look at you.
32:58
Peak gold means not that the world's out of gold, but that
33:03
the peak has been reached in terms of the amount of gold
33:07
that's been discovered. Remember peak oil?
33:10
That was a big thing like 15 years ago.
33:11
So bear that in mind as we go through this.
33:14
However, let's see what they're saying about the world's supply
33:18
of gold running out. Thank you, Jordan, for this
33:23
wonderful article. And.
33:25
Oh, there's my grandpa's clock and there's the gold running out
33:31
2026. Let's see here about this.
33:34
OK, according to a report, not just from anybody standard and
33:40
poor. S&P Global analyst Paul Manalo.
33:45
There have only been five. Look at your hand.
33:50
Hopefully you have 5 fingers. Major gold discoveries since
33:54
2020. Now I can't get this out of my
33:58
mind, but my neighbor, my best friend, he's from Africa,
34:01
Eritrea. When he knocked on the front
34:03
door, this is like 10 years ago. It's not funny, but he chopped
34:08
his finger at the end of his finger off in his lawn mower and
34:12
and Susie about fainted and I. Anyway, he only has four
34:16
fingers. Well, he's got 5 fingers.
34:17
So I took him to the hospital and they they helped to help to
34:20
get it all fixed up. Anyway, five major gold
34:24
discoveries since 2020 totaling 17,000,000 ounces of gold.
34:29
That's from the S&P by S and PS and P Manalo said since 2020
34:35
there have only been five major discoveries with a total of
34:38
17,000,000 ounces of gold. Guys, that's not a lot.
34:42
Some mid size gold mining companies right now will mine
34:47
like a million oz individually per year, accounting for just
34:51
22% of the additional 79,000,000 ounces of gold added in the 2024
34:57
update. So what they're saying is
35:00
they've added more gold than that, 17,000,000 oz, but most of
35:06
it was from discoveries that were made years and years back.
35:11
This chart shows it all. It's supply and demand guys.
35:14
And the only thing again, same deal that we're dealing with
35:19
with silver, the only thing that.
35:21
Fixes this is price. Astronomical prices at 5010
35:26
thousand dollar gold. They will spend a lot more money
35:29
to find gold, but the reality is this.
35:31
Because when you look at the dotted line, right, that that
35:34
that goes kind of up and up and up and really does continue up.
35:38
Let's pull out the crayons. I'm getting fast with this.
35:42
Better watch what I say. Move this thing out of the way.
35:48
OK? As you look, we're looking at
35:50
the dotted shoot. Hold on here, guys.
35:56
There we go. Hold on.
35:57
All right, trash up. There we go.
36:02
We look at the dotted line, OK, I would say it's a pretty much a
36:07
trend. That's the amount of money,
36:10
billions of dollars on the right hand side being spent right now
36:14
on gold exploration. Do you see how it's going up,
36:18
up, up over the last 35 years? The yellow bars are the amount
36:24
of gold in reserves, OK and past production going not let's hold
36:31
on here. It's supply and demand and it's
36:33
gonna it, it is. It's driving me crazy.
36:40
It is going down, down, down. I mean, look that over here on
36:45
the right, OK. They're spending more money,
36:48
finding less gold, adding less gold to reserves.
36:52
At some point, it is not just at quote, UN quote.
36:55
Some point at a definite point in the future, this all catches
37:00
up with the industry. Manala said that recent
37:03
discoveries are scarce and small in size, with an average of just
37:08
3.5 million oz compared to 5.5 million oz average just back in
37:16
2010 to 2019. So not only are they finding
37:20
less, they're scarcer and they're smaller.
37:24
OK, just compared to five years ago, the average size has
37:28
dropped from 5.5 million ounces to 3.5 million ounces.
37:33
This this is crazy. None of the discoveries made in
37:37
the last 10 years have entered the list of the largest 30 gold
37:42
discoveries based on just a few more things based on the on the
37:47
latest monthly gold commodity briefing service, we.
37:50
Expect gold supply to peak at two in 2026.
37:55
What year is it? Look at the bottom right corner
37:57
of your computer. It's 2024 peak gold, 2026 gold
38:03
supply. It gets even crazier, is
38:06
expected to fall to 103 million ounces in 2028.
38:12
So are we at peak gold? A few more quick things.
38:16
Commenting on Manalo's analysis ahead of the herd, editor Rick
38:22
Mills warned peak gold is already here.
38:26
OK, I'll read this whole paragraph, then we'll be done.
38:29
In a world of resource depletion, it falls to gold
38:31
exploration companies to fill the gap with new deposits that
38:35
can deliver. Whoa, stop.
38:37
And this is exactly true with silver.
38:39
The silver price will need the skyrocket.
38:42
The gold price will need the skyrocket for this to be fixed.
38:46
Because the reality is what there's.
38:49
Gong. OK, I'll read the green.
38:50
The gong. Thank you, Susie.
38:51
Thank you, Susie. Because the reality is there's
38:55
no money, OK, going into the exploration sector, there's very
39:02
little money, OK? You saw that graph that showed,
39:05
yes, the money is going up. But when you look at silver in
39:08
particular, guys, the silver. Look at go look at Zuma silver,
39:12
go look at BlackRock silver, go look at Dolly Vard and silver.
39:15
Those are that's like those are the creme de la Creme of the
39:18
silver exploration companies in North America and they're not
39:22
their market caps combined are probably under 200 million.
39:26
I mean, there's no money going into the sector, so yes, price
39:30
will fix it, but the reality is in terms of like some immediate
39:34
supply of silver or gold. Not going to happen because the
39:38
gold exploration sector, sure, there's a much more activity in
39:42
that, but it's not, it's really nothing.
39:44
It's a drop in the bucket compared to what will be needed,
39:48
it says, he added, to fill the gap with new deposits that can
39:53
deliver the kind of production required to meet gold demand,
39:56
which is currently out running supply gold demand, which is
40:01
currently out running. Supply, he added quote the gold
40:05
market continues to experience tightness due to difficulties
40:09
expanding existing deposits in a pronounced lack of large
40:14
discoveries in recent years. OK, OK, It.
40:22
That's what we're dealing with. Wow. 800 people.
40:24
Thank you, basement dwellers. I'm going to ring the golden
40:27
gong. OK.
40:28
We got a lot more to cover, though, so stick with us here.
40:33
Everything is changing. People are waking up.
40:36
Do you feel it right? Do you feel?
40:38
Alone. You ever feel alone as a silver
40:41
and gold investor? I hope you don't.
40:43
I mean in the in the broader context of maybe your family and
40:47
extended family, your neighborhood, your coworkers,
40:52
maybe the people you go to church with.
40:54
Do you ever feel alone? A lot of us do.
40:57
I do, right? Right.
40:59
I don't even when I go to family functions.
41:02
I'm always thinking about silver and gold.
41:04
I'm looking at my relatives jewelry.
41:06
I'm like that silver, that's gold, that's platinum, but I
41:11
don't talk about it because they don't want to hear about them.
41:13
They. Don't they're like, let's watch
41:16
football and I don't. Nothing against watching
41:18
football. I'm going to watch the Kansas
41:20
City Chiefs play later today, but people do you.
41:22
Feel. Alone because you are.
41:25
Alone the statistics indicate I got a cure for you, I got a cure
41:32
for you but the statistics make it very, very clear that in in
41:36
the United States of America, no matter where you are in the
41:39
world, we got a lot of Australians put put it in this
41:42
in the chat. Let everybody know where you
41:44
guys are from. What country are you from?
41:46
I'm going to say mine. USA.
41:49
OK. And I'll tell you guys, like all
41:51
through the night, we'll have a lot of Australians that watch, a
41:54
lot of people from Asia, a lot of people from South America.
41:57
All over the world, England, Scotland, Ireland, OK, Limerick,
42:03
all all over the place. But we are alone.
42:06
We are OK. But that's OK, buttercup,
42:08
because you. Know in your heart why you love
42:11
silver and gold. I know.
42:13
In my heart, right? We gotta.
42:14
But the cure also is we have each other.
42:17
The fact that you're here right now, you're in the basement, 800
42:20
of us together talking about what we love and what's gonna
42:24
happen in the United States. Did I type?
42:29
USA I was supposed to do that. USA in the United States, where
42:33
maybe one in 300. Let's be real when it comes to
42:36
being an enthusiast. Like are you, are you, Do you
42:39
consider yourself, Do you consider yourself to be a
42:42
precious metals enthusiast? I consider you that if you're
42:45
here in the basement, right? That's what I tell the companies
42:48
that sponsor me. Right look, I own that stock
42:51
first mining gold. I own that stock Fortuna mining.
42:54
I eat my own cooking. But when I talk to him, like if
42:57
you want to, if you want to sponsor a channel that gets
43:00
watched by. 20-30 Forty 50,000 Gold and silver enthusiasts on a
43:06
daily basis. I'm your man.
43:08
I wear a silver shirt because these are silver and gold
43:11
enthusiasts. I heard you.
43:13
Thank you. And when and when, right, the
43:17
other people wake up, all right, it's going to be a big deal.
43:20
It's going to be. The smallest amount of people
43:24
joining us. Right, the basement doors now
43:27
locked. We're over 840.
43:28
No more people are allowed in. Stop it.
43:31
OK, but watch this. This is what Here's my other
43:34
picture that I had this morning. I'm going to ring the gong at
43:37
the end of the show. I am not at the end of the show.
43:40
OK, Don't worry. All you basement dwellers.
43:42
And I love you, Susie, more than any silver Susie anything in the
43:46
world. But wrong one.
43:48
Hold on here, add the stage there it is OK, not.
43:51
That we already looked at that. That's not what's exciting.
43:55
So I'm driving down olive like a mile from my house and what do I
43:59
see? This big neon sign Gold is up
44:05
$2600.00 an ounce we are buying now.
44:08
This is on a major Rd. in Saint Louis and it was an old bank.
44:13
That somebody bought bank, probably went belly up, had too
44:16
many commercial real estate loans or whatever.
44:19
There's not a banking crisis. We won't go down that road in
44:21
this video. No, but they turned the bank
44:24
into a jewelry store. Hamilton.
44:26
Jeweler, I don't know what it is.
44:27
I've never been in there. I don't go to jewelry stores and
44:30
I see this. I'm like, wow, everybody and
44:33
this is a major busy Rd. People are waking up.
44:37
OK, people are being woke up. And then I see this, it this,
44:41
I'm I'm waiting for the sign to come and the actually this came
44:44
up. First, there's a jewelry store.
44:47
We have gold and silver bullion. Guys, it is happening right now,
44:52
live right now. Like us.
44:54
We're live right now. It's happening OK.
44:57
Let's go to CNBC. CNBCCNBC is talking about gold
45:07
and silver, just a couple key points.
45:11
I didn't realize this rate cuts set gold on track for best
45:16
quarter in eight years. So unless we get completely and
45:21
be prepared, OK tonight, let me look you in the eye for this one
45:25
tonight. If there was.
45:27
Ever a night where they're they want to clobber gold, I'm going
45:30
to give you a big warning, warning, warning, OK, If there
45:35
was ever a night when they want to clobber the gold price, when
45:39
they want to tamp down slammy, slammy, whatever you want to
45:43
call it, gold down, 100 bucks. Gold down, 120 bucks, Silver
45:48
down $1.80, silver down to dollars.
45:51
We haven't seen that one. It would be.
45:54
Tonight and tomorrow, Why? Because tomorrow is September
45:58
30th. It's the end of the quarter and
46:02
it's very important, right to a lot of technical analysis people
46:06
to a lot of big investment firms if they ever.
46:09
Were going to. Kill the gold price it warning
46:12
so it tonight, I'm not saying I think it's going to happen.
46:15
I think it's about a 8% chance, but it's a chance.
46:20
OK, I remember, gosh, I remember one Sunday night.
46:25
Remember the old days like 3 years ago where it was like gold
46:28
would go up? Silver would go up and then
46:30
boom, they pull the rug. That's because we were in a bear
46:34
market. We're not in a bear market
46:36
anymore. We are in a bull market right
46:38
now until until the overall conditions change.
46:41
We're in a market now where the silver price and gold price go
46:44
up, then they pull back a little bit like Friday, maybe tomorrow,
46:49
Monday, but then they continue up higher.
46:51
Then they pull back a little bit.
46:53
I remember like it was like 3 years ago.
46:56
It was horrible. Oh my God, it was.
46:58
Heartbreaking. It was gut wrenching.
47:01
OK, I remember a Sunday night we dropped the twins off at my mom
47:04
and dad's house. Susie and I were enjoying a
47:07
romantic dinner overlooking the Missouri River here, and we were
47:11
in Old Saint Charles. It was Sunday night about 7:00
47:15
and I pulled up my phone because I'm, I'm obsessed with the gold
47:19
and the gold price was down like $130.00 on a Sunday night.
47:23
And I should remember that hitting me like, Oh my God, you
47:27
know it. Because then that was back when
47:29
gold was really struggling. And honestly, I probably had way
47:33
too much of my money too concentrated in just a few gold
47:37
mining stocks at that point. So it really, really hit me and
47:41
we've been and we were, we were just probably in the first third
47:44
of that bear market. I mean, but you know, I knew,
47:48
right? I knew that there'd be days like
47:50
this, times like this, when now we're in a bull market.
47:53
So even if they beat us down, we're going to be OK.
47:57
Let's go back. And that's why this article from
48:00
CNBC is so important. Best quarter in eight years for
48:05
gold. I know.
48:08
Is that a picture of you? Are you looking at this right
48:10
now in your basement? Is that your goal?
48:12
You can't decide gold, silver, gold or silver.
48:15
Gold, silver, it doesn't matter. Whatever you want, gold prices
48:20
are doing good, blah blah blah blah blah.
48:22
Basement dwellers know all that already.
48:24
Here's a good quote. 3. $1000 per oz levels this year.
48:32
Are quite possible. I wonder who said this.
48:34
I wonder if the guy who CNBC is interviewing had ever been a
48:39
guest with us, part of us, part of the family here in the
48:43
basement, the familia, the basement dwellers.
48:47
There's a lot of things out there that could throw gas on
48:51
the market, said Phillips Tribal.
48:54
Chief market strategist at Blue Line Futures and a previous
48:58
guest in Ron's basement. We had him down here like 3
49:00
weeks ago. The smartest guy in the room.
49:03
He's one of the top ten. He's part of the elite, OK, And
49:07
he is a great guy, super nice guy.
49:09
He has a video that comes out every morning.
49:11
It's like 5 minutes long. He gets up at like 4:00 in the
49:13
morning, makes this video from his house in Florida.
49:17
Super smart guy, Blue Line Futures.
49:20
And he's not trying to really sell you anything.
49:22
He's just giving updates on the market, he's saying.
49:24
And we can get $3000 an ounce here.
49:27
Let's just read his next paragraph.
49:29
You can see a breakdown in the Middle East peace talks, check.
49:32
The labor market deterioration could continue, check.
49:37
Fed could cut rates by another 50 basis points, check.
49:40
And China can add more stimuli. These factors will support the
49:45
gold market. Everything's working in our
49:48
favor. This is where it gets
49:50
interesting. Gold exchange traded funds, ETFs
49:54
that are backed by the physical metal, a key pillar of demand,
49:58
saw modest net inflows last week and are are yet to fully
50:04
contribute to the rally, though analysts expect more.
50:10
Activity from ETFs in the coming months.
50:13
This is a big, massive potential piece of good news for gold and
50:20
silver investors. We still have yet to get the big
50:24
ETF wind blowing. It's like a little breeze right
50:29
blowing in our back. It's yet to really start
50:33
blowing. It's like, it's like if you look
50:36
here right over my left shoulder, myself waving American
50:40
flag, which I invested a lot of money in, self waving flags are
50:43
very expensive. That's about the wind that we
50:46
have right now coming from guys. We're going to have Hurricane
50:49
Helen coming when all that money goes into the gold and silver
50:55
ETS. Are you having a problem like
50:58
fully accepting it? OK, you've got what's called, I
51:03
think it was, I forget the guy's name.
51:05
Anyway, shoot. Larry.
51:08
Larry Leppard. I don't see him on the Internet
51:10
very much anymore. Larry Leppard, Harvard NBA, good
51:14
guy, though, down to earth, smart guy.
51:17
I'm going to diagnose you. I'm the by the way, I'm the
51:21
silver psychiatrist and and I have a couple that first we're
51:25
going to diagnose Silver. Silver.
51:28
OK is a schizophrenic I've diagnosed silver is
51:32
schizophrenic multiple personalities sure it's got its
51:36
industrial solar Elon Musk like we talked about personality.
51:40
But there's more. Not only is it a, it's also the
51:44
other half of its personality Is monetary okay?
51:49
It's really a schizophrenic. It's trying to decide what am I,
51:53
What? What am I in today?
51:54
But to make matters even worse, Silver has a dual diagnosis.
51:57
It's also bipolar. It is subject to wild mood
52:01
swings, wild mood swings, absolute wild mood swings.
52:08
David. Oh, shoot.
52:09
This, this chart that we looked at earlier.
52:11
Let me show you. Let's let's bring back this
52:13
chart. Where is it?
52:15
Hold on here. There she is.
52:18
See if I can find the actual tweet.
52:20
Remember, that's India silver imports, David Morgan.
52:24
See if it's still up here. Said something about this, about
52:29
this. Darn it.
52:31
OK, well, David Morgan made a tweet about this chart that that
52:37
Tavi Costa put out and he said and wait until the monetary
52:41
component of silver kicks in. OK, 'cause it's true.
52:46
Silver schizophrenic, also bipolar, right?
52:49
Big mood swings, big swings in price.
52:52
So, you know, be prepared. Be prepared.
52:56
Now you I have a diagnosis for you as well and me just an all
53:01
fun here, right? But Larry Leppard said in this
53:04
likely what we could be suffering from battered bowl
53:07
syndrome, right? We've been traumatized a little
53:10
bit. That's why we come together down
53:12
here in the basement, right? We've had the rug pulled many
53:15
times. They can pull it a few more
53:16
times. At this point, we don't care.
53:18
You are a hardened veteran of the precious metals market.
53:23
OK, good things can happen good things will happen.
53:29
I think the best thing that's happened for me today is the
53:33
fact that you yes, I see you decided to give some of your
53:37
time to us here in the basement. You know, Susie and I really
53:41
appreciate all the support that you guys have given you right
53:45
you individually, cuz that's what we are It's I really tried
53:49
guys. Can you change it to Ron tube
53:51
and they said Nope, it's YouTube because it's about you.
53:53
This is not possible. So thank you for being here.
53:56
Thanks for your contributions thanks for your thoughts thanks
53:59
for your support right, right and also thanks to our sponsors.
54:02
Don't forget pinbacks Pi MB EX first mining gold.
54:07
And Fortuna Mining, First mining's got 2 multi million
54:11
ounce projects in Canada, right? Fortuna Mining has 5 operating
54:15
mines right now, silver mines and gold mines in Latin America
54:20
and West Africa. I own both the stocks, right?
54:23
I eat my own cooking. I'm not going to take a
54:26
sponsorship unless I own it myself.
54:28
I'm not giving financial advice mining.
54:31
Stocks are risky. I buy my metals from Pendeks,
54:36
OK, because I believe in them, right?
54:38
And, and, and I bought metal from them before they sponsored
54:41
the channel. So guys, it's going to be a
54:44
crazy crate. Oh my gosh, Oh my gosh.
54:48
Quickly take your blood pressure medicine.
54:52
I'm on blood pressure medicine. You'd never imagined now would
54:55
you take your pills because it's going to be a crazy 30 days
55:01
ahead of us. OK, tomorrow is the end of of
55:04
September. We're going to October is going
55:07
to be a scary month. Not just because it's Halloween.
55:10
OK, October. I'm going to get the skeleton,
55:12
have it hanging back there. It's going to be a scary, scary
55:14
9 more. For a training.
55:17
OK, I almost forgot. Thank you Susie.
55:19
Hey. Hey.
55:20
I want everybody say hi to Susie and Susie, can you please with
55:24
your really nice sweet voice say hi to everyone.
55:28
Hi everyone. Thank you so much for tuning
55:31
coming in today. I hope you all have a wonderful.
55:36
Day. OK, I got to do the gong.
55:38
I got to do oh, that's gonna oh, wait a minute back that October
55:41
is gonna be scary Oh, my God. Oh, gosh.
55:46
Sorry. Election.
55:50
I forgot to talk about that I'll talk about that tomorrow.
55:53
Bricks. What?
55:55
Oh my God, you have the world is like they're talking about the
55:58
the Taliban wants to go to the BRICS summit.
56:00
I'm not saying that's happening, but that's a story that's out
56:03
there. Oh my gosh.
56:05
Oh, the national debt, we didn't even check right.
56:09
The the paper to silver ratio. I mean guys, it is just
56:13
absolutely, I don't know, there's too much.
56:18
We'll talk about more of it tomorrow.
56:20
Let me get the gong. We need a few more thumbs up and
56:24
we'll get the train whistle. OK.
56:27
This is the golden gong. This is for you, Mile.
56:34
Golden gong. We'll do the train whistle.
56:36
We will do today. Flag man, protect the train
56:41
front. Three shorts and a long.
56:47
Thanks, guys. Thanks for being part of the
56:49
basement. OK.
56:50
And I'll see you soon. Have a great day.
56:54
Thank you.