Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨SILVER CONSPIRACY THEORY🚨 and YOU Get FREE $5,000

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🚨SILVER CONSPIRACY THEORY🚨 and YOU Get FREE $5,000 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:02
  Everybody, welcome to the basement.
• 0:05
  Welcome to the live stream. I appreciate each and everyone
• 0:09
  of you. Yes, you, for being here with me
• 0:12
  today. We got a lot to talk about.
• 0:14
  Let's get started right now. Have you heard about the
• 0:17
  conspiracy theory surrounding Costco and Silver?
• 0:22
  And I'll emphasize, I think it's a conspiracy theory, but it kind
• 0:26
  of sort of makes sense. You can be the judge for
• 0:28
  yourself. And how does $5000 of free
• 0:33
  money, Yes, it's an election year and suddenly we're hearing
• 0:37
  about average Americans suddenly getting free money.
• 0:41
  We're going to talk about that as well.
• 0:43
  We're going to look at the silver chart.
• 0:45
  I'm actually going to pull it up on the screen live during the
• 0:49
  live stream so we can take a look at what's going on in
• 0:52
  silver over the last four years. What indication is it giving us
• 0:57
  as to where we are heading? But let's get started right away
• 1:01
  with the conspiracy theory in Costco.
• 1:03
  As you know, Costco is selling gold.
• 1:06
  Costco is selling silver, OK. They sold $100 million worth of
• 1:11
  gold during their most recently completed a three month quarter.
• 1:15
  So they're selling significant amounts of precious metals. 22
• 1:20
  very interesting things to think about.
• 1:22
  The second one will be the conspiracy theory, but number
• 1:25
  one, we got to consider something.
• 1:27
  Costco has grown to the size they are by anticipating
• 1:32
  consumer trends. What does it tell us that
• 1:36
  they've become? AI would say in the retail
• 1:39
  world, leader in providing precious metals to their
• 1:43
  customers, right? They've they've been able to
• 1:45
  predict other big trends ahead of the curve.
• 1:48
  Are they doing the same thing with silver and gold?
• 1:51
  But let's talk about this potential conspiracy theory
• 1:56
  surrounding Costco and why, why they're selling silver and gold.
• 2:01
  Are they just anticipating future consumer trends or is
• 2:07
  there more to the story? Well, some people, and again,
• 2:10
  this is all just hypothetical, but it does make sense.
• 2:14
  Some people are suggesting that maybe the executive team at
• 2:19
  Costco is losing faith in the US dollars use, losing faith in the
• 2:25
  dollar's ability to retain its purchasing power, and that
• 2:29
  they're trying to get silver and gold into the hands of their
• 2:34
  Costco customer. So that if and when there's a
• 2:37
  dollar event that the Costco customers will have silver and
• 2:41
  gold with which they can use to buy products from Costco.
• 2:46
  Again, I'm just calling it a conspiracy theory, but there are
• 2:51
  a large number of people who are attempting to purchase their
• 2:55
  silver, purchase their gold from Costco.
• 2:57
  What I want to tell these people is there's another option and
• 3:01
  it's better. Yes, channel sponsor.
• 3:04
  Boy, my fingers I got this new what the heck, here it is.
• 3:08
  Channel sponsor Pinbex. Look, if you go to Pinbex,
• 3:13
  you're going to find the best prices, the best service, and
• 3:18
  the best selection. As these Costco people start to
• 3:22
  wake up even more and more to the benefits of silver and gold,
• 3:27
  they're going to want to work with a specialist.
• 3:29
  And I would recommend to them, and I would recommend to you as
• 3:32
  well to throw Pinbex into the mix.
• 3:36
  OK, PIM, dexpinbex.com. I think you'll find what I
• 3:42
  found. They do check all the boxes and
• 3:45
  if you want to get to a a, A, a point where you're thinking
• 3:48
  about converting an IRA or part of an IRA into precious metals,
• 3:54
  talk to Pinbex about that as well.
• 3:56
  What the Costco shoppers, what the Sam's Club shoppers, what
• 4:00
  the Walmart shoppers will find out.
• 4:03
  What the other online bullion dealer shoppers will find out is
• 4:06
  that if you go to Pinbex, you get more metal for your money.
• 4:10
  Thank you to Pendeks for sponsoring Ron's basement and
• 4:13
  making this live stream and the whole channel possible.
• 4:16
  So that's the conspiracy theory. What do you think?
• 4:19
  I mean, it does kind of make sense, right, that that the
• 4:21
  Costco executives are sitting around saying, oh, we're not so
• 4:24
  sure about the dollar and where things may be in two or three or
• 4:28
  four years. Maybe we'll give our shoppers an
• 4:32
  option if it a minimum. What we know, like we talked
• 4:36
  about, is that Costco is expert. There's a reason why Costco has
• 4:41
  grown to the size they have. They're an expert at spotting
• 4:44
  trends before all the other big retailers.
• 4:48
  So the fact that they are interested in silver and gold at
• 4:51
  minimum is a great, great thing. Let's move on.
• 4:55
  I was wrong. I was wrong.
• 4:57
  OK, 2008. I was thinking last night, this
• 5:00
  whole system, I was wrong. I was early.
• 5:04
  Was I wrong? Were we early thinking that the
• 5:07
  system was headed for very, very difficult times?
• 5:11
  I was thinking back to when I first started buying silver and
• 5:14
  it was around the time of the great financial crisis and I
• 5:17
  remember reading and diving and look, I'm no I'm no genius or
• 5:22
  guru, but I do have a degree in accounting from a top tier
• 5:24
  university and worked for a BIG4 accounting firm even though it
• 5:28
  was only for 10 months. Even though I left the job on my
• 5:31
  own. None the less, I understand
• 5:33
  finance and accounting. And back then I was very scared
• 5:37
  about the financial future of our country.
• 5:39
  And that's when I first started dabbling into precious metals.
• 5:43
  Boy was I early and sometimes being early feels a lot like
• 5:47
  being wrong, right? The price of silver, it's done
• 5:50
  well and I believe in the future I want to let you guys know
• 5:55
  that. Same thing with the precious
• 5:56
  metal mining stocks, right? I've, I've suffered some what I
• 6:01
  would consider, consider for myself, some pretty significant
• 6:04
  losses over the last year, year and a half.
• 6:07
  I don't have a crystal ball. I want to make that real clear
• 6:10
  to all you guys. I share with you what I see,
• 6:13
  what I see coming down the road. Look, when I apply basic
• 6:17
  mathematics to it, do you as well, do you see that we could
• 6:20
  be headed for some challenging times ahead?
• 6:24
  None of us have a crystal ball. I just want to reiterate that to
• 6:28
  you, I don't recommend putting all your eggs into one basket.
• 6:32
  You need to make your own financial decisions and and what
• 6:36
  I share with you is really for informational purposes only.
• 6:39
  Although I do share with you what I do, what decisions that I
• 6:43
  make. Let's move on from that.
• 6:45
  Let's look at the chart of silver.
• 6:46
  You want some some interesting? I'll see if I can pull this up
• 6:50
  for you guys On to the screen and there it is.
• 6:54
  That's a chart of silver that starts back in I believe it's
• 6:59
  May of 2020, so it's about a four year chart of silver.
• 7:04
  Kelton, one of our great viewers sent this to me to demonstrate
• 7:08
  the wedge, the wedgie that we're in right now, take a look at
• 7:12
  that. Do you see how the price over
• 7:14
  the last four years has been compressing down into a very,
• 7:20
  very tight band? And if you look on there even
• 7:24
  toward like just what the last six months, it's even compressed
• 7:27
  more. We're in a spot guys, where
• 7:30
  silver, when things get compressed like that into what's
• 7:33
  called a wedge pattern, it's going to break one way or the
• 7:37
  other. Look, we want to think and we
• 7:39
  want to believe that it's going to break up.
• 7:41
  And I, you know, when I look at the big picture with silver, I
• 7:44
  don't know how you feel about this, but when you look at the
• 7:47
  fundamental factors, the supply, demand factors, the geopolitical
• 7:52
  factors, the monetary factors supporting silver, I see it
• 7:56
  breaking up above that line, let me see if you can get back to up
• 8:00
  to me. There we go.
• 8:01
  Hey, good to see you again. Basement dwellers, thank you to
• 8:04
  all of you for being here today. Please give this a thumbs up and
• 8:07
  you can subscribe to the channel that is free and what you will
• 8:10
  get is friendship, fun, education, gold and silver talk.
• 8:14
  And you know I'm trying to do it every single day so you can
• 8:18
  always get a little bit around basement.
• 8:20
  But we appreciate you being here and thank you.
• 8:22
  Thank you in advance for any super chance.
• 8:25
  They go a long way to help support the channel.
• 8:28
  This is interesting. Are you ready for $5000?
• 8:32
  Free money, right? Isn't it interesting?
• 8:35
  It's an election year and suddenly we're hearing about
• 8:39
  average everyday Americans getting some free money.
• 8:42
  I'm going to try to share my screen with you guys one more
• 8:45
  time here because I want to go through quickly through this
• 8:48
  article. Here we go.
• 8:52
  Hold on. OK, wait a minute.
• 8:57
  Oops, I got like to say, bear with me.
• 9:03
  Here we go. OK, hopefully.
• 9:09
  Hold on. Let me, let me.
• 9:10
  I'm, I'm. I'm learning on the fly some new
• 9:12
  software. Let me, let me call the boss.
• 9:15
  Hey, Susie. We'll be right back.
• 9:20
  Hey. Hey.
• 9:22
  Is the entire screen showing the article that says Americans to
• 9:26
  get 5000 to shop under new bell? OK, I'm going to presume you can
• 9:35
  see this. It says Americans to get $5000
• 9:38
  to shop under new bill. Hold on a second.
• 9:42
  Was that a yes? OK, sorry about that guys.
• 9:49
  This is called Ron's Basement Technology.
• 9:51
  It includes, well you can't see me the use of walkie talkies.
• 9:57
  OK, Americans to get $5000 to shop under New bill In a move to
• 10:01
  boost domestic consumption and support local manufacturers,
• 10:04
  Representative ROH Khanna Never heard of her of California or
• 10:09
  him and Debbie Dingell Dingell. Debbie Dingell of Michigan, both
• 10:17
  Democrats introduced the bill aimed to encourage Americans to
• 10:20
  shop from small businesses. So basically the proposed
• 10:23
  legislation disclosed during a tour of manufacturing facilities
• 10:26
  in Ann Arbor, MI offers financial incentives for
• 10:30
  consumers to choose American made products.
• 10:33
  So what does this have to do with silver?
• 10:37
  Well, I'm going to tell you in a second here, Number one, how are
• 10:40
  they going to pay for this, right, they're going to pay for
• 10:42
  it with printed money, which will devalue the dollar, which
• 10:45
  in the long run will lead to much, much higher silver prices.
• 10:48
  The Made in the USA tax credit. So it's a tax Credit Act seeks
• 10:52
  to revitalize American manufacturing by providing up to
• 10:55
  $2500 tax credit for individuals and $5000 for couples purchasing
• 11:03
  goods that meet the Federal Trade Commission's Made in
• 11:05
  America standards, which require that the products must mostly be
• 11:09
  made in America. It would exclude luxury items,
• 11:13
  tobacco, firearms and vehicles. Why are they excluding vehicles
• 11:17
  aiming to make American goods? So basically, this is a tax
• 11:20
  credit. This is not a tax.
• 11:22
  Write off that they're talking about here, guys.
• 11:25
  And I'm going to come back to you.
• 11:27
  You're going to get to look at me again.
• 11:29
  A tax credit. So this means you could go out
• 11:32
  and spend $5000 on American made products.
• 11:35
  And at the end of the year, it's a credit on your tax return.
• 11:40
  Meaning that if last year you owed $5000, had this plan been
• 11:45
  in place and had you spent $5000 on American Made products, you
• 11:50
  would have, you would have not owed any taxes.
• 11:52
  If you got a $2000 refund last year and this set this bill
• 11:58
  proposed bill had been in place, you would have got a $7000
• 12:01
  refund. OK, but what does this have to
• 12:04
  do with Silver #1? How are we going to pay for
• 12:07
  this? And somebody not told them that
• 12:09
  we already have like a $2 trillion deficit and $34
• 12:14
  trillion in national debt. Printed money, right?
• 12:17
  Dilution of the currency. And the only reason they're
• 12:20
  doing this is because it's an election year, right?
• 12:23
  But here's my question. They didn't say they're going to
• 12:26
  exclude silver. So in theory, right?
• 12:30
  Couldn't we all get basically $5000 worth of free silver?
• 12:33
  Because last time I checked, I dug this out of the vault, went
• 12:37
  then got this, this beauty right there.
• 12:41
  See her right? That's an American Silver Eagle.
• 12:45
  I think this is made in America. So couldn't we just all go and
• 12:50
  and buy $5000 worth of American Silver Eagles and check that box
• 12:54
  on the tax return and show our receipt and get $5000 of free
• 12:58
  silver? I don't know.
• 13:00
  The way I read this, that seems to be a distinct possibility.
• 13:03
  So we'll have to see how this whole situation plays out.
• 13:06
  I I I could have had the best thumbnail in the history of the
• 13:10
  silver and gold community, $5000 free silver.
• 13:14
  I mean, it qualifies. It's not alcohol, tobacco,
• 13:17
  firearms or luxury. Well, maybe it's a luxury.
• 13:20
  No, it's not. It's a necessity.
• 13:22
  It's money. It's real money. 5000, we're all
• 13:25
  going to get $5000 of free silver.
• 13:27
  Maybe I will become a Democrat. All right, I digress.
• 13:32
  I got off subject OK, And they're going to pay for it with
• 13:35
  money. Printing is the used car market
• 13:37
  crashing. And this has to do with metal.
• 13:40
  OK? Had a keen insight yesterday.
• 13:44
  Number one is the economy crashing?
• 13:47
  Is the used car market crashing? I belong.
• 13:49
  We have a Honda Odyssey minivan. 2013 to 120,000 miles, right?
• 13:55
  I'm not living the life of luxury off this YouTube channel
• 14:00
  anyway. There I'm a part of a Facebook
• 14:02
  group about Honda Odysseys, like people that are fanatics and you
• 14:05
  can learn things and whatever. And I love Honda stuff.
• 14:08
  That's one thing you maybe don't know about me.
• 14:09
  I love Honda. I always have.
• 14:12
  My dad bought one of the first Honda cars that ever came to
• 14:14
  America. I love Honda.
• 14:16
  I used to have Honda anything I could.
• 14:18
  I've shield away from that little bit.
• 14:19
  None the less, I'm in this Honda group and people in the Odyssey
• 14:22
  group are talking about how the value of their mini Vans.
• 14:27
  And then they went on to talk about all the other segments of
• 14:29
  the automobile used. Car prices are crashing, right?
• 14:34
  Repos are through the roof. We happen to know of someone who
• 14:37
  knows of someone who recently had a car repossessed.
• 14:40
  Repossessions are through the roof.
• 14:41
  Yeah, everybody bought these crazy expensive cars during the
• 14:45
  COVID crisis and now they can't afford those $1200 a month
• 14:50
  payment for their Ford F-150 or whatever they bought.
• 14:54
  And the car's worth like 30 or 40% of what the of what the loan
• 14:59
  balance is that they own. But all these people in this
• 15:02
  Honda Odyssey owners club were talking about and I kind of, I
• 15:05
  never, I never thought and this has to do with metal.
• 15:08
  Stay with me here. There's a there's a big a big
• 15:11
  surprise boom boom at the end of this story.
• 15:14
  But I never, never think of your car as an investment asset.
• 15:17
  Maybe temporary asset cars go down in value.
• 15:20
  We had that little blip during the C19 crisis where people were
• 15:24
  like, Oh, my car went up in value and oh, hold on.
• 15:29
  Oh, OK. Thank you.
• 15:31
  That's Susie chiming in. Thank you, Susie.
• 15:36
  That's the bell. That's the.
• 15:40
  OK, thank you, thank you, Susie. Thank you.
• 15:43
  OK, back to my thought, right. The car market is crashing.
• 15:47
  People in this Odyssey Club are like, Oh my God, my car, My, my,
• 15:51
  my, my minivan was worth 12,000 three months ago.
• 15:55
  Now they're telling me it's worth 6000.
• 15:58
  So is the used car market crashing?
• 16:00
  What does that tell us? I'm hearing about used our car.
• 16:04
  Lots, everywhere, filled up. I'll tell you this, there's a
• 16:06
  Tesla dealer because I kind of live in the nice part of town
• 16:09
  here in Saint Louis. There's a Tesla dealer about 3
• 16:12
  miles from me. OK, their lot is full, but
• 16:17
  there's also a lot. Chesterfield Mall, a large mall
• 16:20
  that's now abandoned and going to be torn down so that they can
• 16:24
  build apartments. Of course, not far from my
• 16:26
  house. I don't know why they're tearing
• 16:27
  it down. It's in the nice part of town.
• 16:29
  But anyway, it's a different story.
• 16:30
  It's abandoned, has massive the parking lot.
• 16:33
  One whole section of it is full of Teslas, right?
• 16:37
  Overflow from this dealer. I'm like, how many Teslas are
• 16:41
  there? Oh my God.
• 16:42
  And and one guy I heard talking in this Odyssey group said he
• 16:46
  just bought a Tesla for like 30% of what it would have sold for
• 16:51
  like a year and a half ago. So the used car market.
• 16:53
  But what does that have to do with metal?
• 16:55
  I forgot. I apologize.
• 16:57
  I apologize. So I'm driving home last night
• 17:00
  or yesterday afternoon after lunch, and I get stuck in a
• 17:03
  traffic jam, and I'm looking at the car in front of me.
• 17:05
  And I was thinking about its value, right?
• 17:07
  And it was like a whatever, a Suburban or something.
• 17:10
  I thought, yeah, that thing's probably worth 15 grand or
• 17:13
  whatever. I have no idea.
• 17:14
  I'm not a car guru. But then it dawned on me, right?
• 17:17
  I thought, you know cars, they're temporarily valuable,
• 17:21
  right? Eventually 99.9% of cars get
• 17:24
  smooshed up. And you've seen the pictures and
• 17:27
  the little balls, right? Little balls.
• 17:29
  And what's the only thing at the end of the day?
• 17:33
  Maybe there's a few other small things, but basically, what's
• 17:36
  the biggest thing? What's the only thing left
• 17:38
  that's worth anything at the end of a car's lifestyle?
• 17:41
  Because a bunch of people. I was thinking about the value
• 17:44
  of silver, right? Let me back up.
• 17:46
  I was thinking about the value of silver, because I happen to
• 17:49
  have this with me, because I knew I was going to talk about
• 17:51
  it today, this beauty, and I was thinking like this silver.
• 17:55
  Whether it was mine 2000 years ago or two years ago doesn't
• 17:59
  matter. It stores all that work, all
• 18:02
  that effort that went into digging it out of the ground,
• 18:06
  right? OK, now back to my car story.
• 18:10
  I'm looking at the car in front of me.
• 18:11
  I'm like, it's worth 15K. There was a lot of work that
• 18:14
  went into building that car, getting all the raw materials,
• 18:18
  putting it together, manufacturing, blah blah blah.
• 18:20
  And it's temporarily valuable while it's still running,
• 18:24
  whatever. But eventually it winds up in a
• 18:26
  junkyard and it gets smushed up right.
• 18:30
  All the utility value on it. What's the only thing left in
• 18:33
  that car that's worth anything at the end of the day?
• 18:36
  Metal. Right now, it's not made out of
• 18:39
  completely, out of silver. Whatever.
• 18:40
  It's steel. But still, it just drove home to
• 18:43
  me the value of real, tangible metal.
• 18:47
  Whether it's steel, copper, silver, gold, whatever.
• 18:50
  That car, once it gets smushed up, all that it's worth is the
• 18:55
  recycling value of that metal. Metal holds its value.
• 18:59
  It's the only thing left that's worth out of the car.
• 19:01
  OK, this is not a car show. No more Car Talk.
• 19:04
  Let's move on. Let's oh, this is going to get
• 19:07
  interesting. OK, let's touch on this.
• 19:11
  Did you hear? Did you hear?
• 19:14
  And then we're we're going to dig into something.
• 19:16
  This is good. Is the economy going to crash?
• 19:19
  What do you think? Right.
• 19:21
  Are we in for a depression? Right.
• 19:24
  I think nobody's talking about depression, but Morgan Stanley
• 19:28
  had this to say. Here's a headline A hard landing
• 19:32
  recession is guaranteed as the full impact of the Fed rate
• 19:39
  hikes have yet to hit the economy.
• 19:41
  That's according to Morgan Stanley's chief economist.
• 19:45
  OK, the full impact of the Fed's rate hikes had yet to hit the
• 19:50
  economy. What do we call that?
• 19:51
  Basement dwellers? We call that the lag effect.
• 19:54
  OK, very interesting. It could take 18 months.
• 19:58
  And now we're going to, I got some some data for you.
• 20:01
  Get ready. There's a, there's a a kicker,
• 20:05
  bear with me, there's a kicker here.
• 20:08
  It could take 18 months after the last rate hike to feel the
• 20:12
  full weight of higher rates. That's the chief economist at
• 20:17
  Morgan Stanley. So again, the Fed raises rates.
• 20:21
  It takes 8 each time they raised rates over all that period of
• 20:24
  time takes 18 months. So the question I had and maybe
• 20:28
  you're having is what, what, where were we 18 months ago?
• 20:32
  Well, I did some calculations 18 months ago according to what I
• 20:36
  could figure in my head. So consider the source was about
• 20:40
  August of 2023. I'm going to share my screen
• 20:43
  with you again. Hold on here.
• 20:48
  OK. Hi, everybody.
• 20:49
  I'm still down here, but now we're gonna look at the Fed rate
• 20:54
  hikes. Hold on.
• 20:56
  Susie. Is it?
• 20:56
  Has it taken the whole screen? Susie, if you could.
• 20:59
  Yes, I see it. Am I still on there, though?
• 21:03
  Hold on. I can see it OK.
• 21:09
  Hold on. Oops.
• 21:12
  There we go. All right, hold on.
• 21:14
  OK, here we go. Let's look at the Fed rate hikes
• 21:17
  and look at the timing and see what just me, I see the.
• 21:24
  Tech. Hold on one second everybody.
• 21:31
  I need to consult with my tech guru.
• 21:34
  On the screen right now, do you just see the page that says the
• 21:37
  Fed left rates unchanged? OK, Thank you.
• 21:43
  Susie's the best. I love her.
• 21:44
  I know, guys, I need to get, like, double monitors.
• 21:47
  I'm working on it. OK?
• 21:48
  Bear with me. But buddy, we're not going to
• 21:51
  read this article. We're just going to go right
• 21:53
  here, OK? This shows all of the Fed rate
• 21:57
  hikes. OK, We can see the most.
• 21:59
  The last rate hike was in July of 2023, so last summer, OK.
• 22:06
  But, but if we go back to September, OK, that's 18 months
• 22:14
  ago, actually that's only 17. We'll go back to July.
• 22:17
  We're still going to feel the impact of rate increases that
• 22:22
  occurred in July, right? Is that correct?
• 22:25
  July of yes, 2022, that's 18 months ago .75 point 75.75,
• 22:34
  that's 2 1/4 two and three quarter, 4%, four 4.75% of the
• 22:44
  rate hikes. Does that make sense?
• 22:46
  Have yet to fully feed through. That's the majority of the rate
• 22:51
  hikes, OK. It's the lag effect.
• 22:54
  It takes time for these higher interest rates when people have
• 22:57
  to, when businesses have to refinance that.
• 22:59
  We're still, I wouldn't even say we're in the eye of the storm,
• 23:03
  right. We're like, we're in in terms of
• 23:07
  the negative consequences of the Fed rate hikes.
• 23:10
  And you can see that right here, right?
• 23:13
  That would have been, yeah, guys, we still, I didn't realize
• 23:16
  it was even that crazy. We're still like in the maybe
• 23:20
  third inning or 4th inning if it were a baseball game.
• 23:24
  So. So be prepared, right?
• 23:29
  Nobody wants to talk about a depression.
• 23:31
  Nobody wants to talk about a big recession.
• 23:34
  Now this economist, chief economist from Morgan Stanley
• 23:37
  wants to talk about it. And what I just showed you shows
• 23:40
  definitive proof that we still have not felt.
• 23:43
  It's like, how do I say this? It's like, I don't know if you
• 23:47
  were going to drink a 12 pack of beer.
• 23:49
  We're on the third beer, right? And it's kind of like alcohol.
• 23:53
  It takes a while to hit a person.
• 23:55
  I don't drink anymore. But I remember from when I did
• 23:57
  drink that that's the way it works, right?
• 23:59
  If you're going to like the Fed slammed a 12 pack over the last
• 24:03
  two years but only the 1st 3 beers have hit you, you know
• 24:08
  what I mean? We still have a lot more to come
• 24:11
  in that regard and that could nobody wants to talk about a
• 24:15
  depression and that's we've we've we've we've talked about
• 24:20
  it here in the basement. Aren't those the things that a
• 24:22
  lot of times wind up happening like nobody wants to talk about,
• 24:26
  oh, we we could be in for some really rough times like a
• 24:28
  depression? No, I'm not saying I think it's
• 24:31
  going to happen. I'm not saying I want it to
• 24:33
  happen, right? I mean, now they're even just
• 24:35
  saying, well, you know what? We'll never have another
• 24:37
  recession. We're never going to have.
• 24:39
  Everything's fine. We are living in a fantasy
• 24:42
  world, man. I mean, come on, you got to be
• 24:45
  kidding me, right? I mean, this is we are living in
• 24:48
  fantasy land where you know, we all we can just spend as much as
• 24:53
  we want. You know, we're the world power.
• 24:55
  I'm telling you it doesn't work that way.
• 24:59
  My friend Ted is going to be on here.
• 25:01
  He he sent me the saying and I'm going to murder it.
• 25:03
  But like you can ignore, you can ignore reality for so long, but
• 25:09
  you can't ignore the consequences of reality, right.
• 25:12
  And mathematics shows no forgiveness on the altar of
• 25:15
  truth. So.
• 25:19
  And what happens, What happens? What happens, right if we hit
• 25:24
  these really rough patches? And even if we don't hit the
• 25:28
  rough patches, for crying out loud, the feds got or the
• 25:31
  Treasury's got to refinance $10 trillion in debt this year?
• 25:35
  New issues and refinances of of last of of previous debt
• 25:40
  treasuries that are coming to maturity.
• 25:42
  I mean, we didn't even without hitting a rough patch, where's
• 25:46
  the money going to come from, right?
• 25:48
  The bank term funding programs done here in a couple days, the
• 25:52
  reverse repo facility, which was really stealth QE is done.
• 25:57
  The the the Chinese and the Saudis, the foreign countries,
• 26:01
  they don't want to buy the Treasuries, right?
• 26:03
  We're going to be in a weird situation.
• 26:06
  You know, everybody's saying, oh the Fed's going to cut rates,
• 26:08
  The Fed's going to cut rates. I'm telling you, even if the Fed
• 26:10
  doesn't cut rates, people are waking up, right?
• 26:14
  People are waking up. the Fed may not have to raise rates.
• 26:17
  We just, they're we're just going to have to print money and
• 26:20
  inflation is going to go way, way, way above.
• 26:24
  We're going to be back into a negative real interest rate
• 26:28
  environment because because right now we're in this
• 26:34
  situation where supposedly we have positive real interest
• 26:37
  rates, meaning yeah, you can go get ACD for 5% and inflation's
• 26:42
  only at 3%. We're in this environment.
• 26:45
  This is actually really cool about silver, but in particular
• 26:49
  about gold because all the gurus are saying this, that given
• 26:54
  where interest rates are right now, given how we have this
• 26:57
  positive real interest rate environment, right, gold really
• 27:02
  should be about 1600. If you told people that the
• 27:06
  experts, the gurus a couple years ago where we would be
• 27:10
  right now in terms of interest rates in the economy, they would
• 27:15
  have told you that gold would be 15116 hundred an ounce.
• 27:18
  But it's not. And there's a reason why because
• 27:22
  all is not well underneath the hood and who knows that, Oh
• 27:26
  yeah, it's that time for the daily.
• 27:29
  The central bankers are buying more gold than any other time in
• 27:32
  history. And why?
• 27:34
  Right. That's why.
• 27:36
  Because everything's not well under the hood.
• 27:39
  You know, I was talking with, with the guys at Pimbex this
• 27:42
  morning. We were talking about the gold
• 27:43
  price and I said to them, they didn't say this, I said this to
• 27:46
  them. I said people think that it's
• 27:49
  crazy to talk about $3000 gold, right?
• 27:52
  I don't think it's crazy, right? But I get I get a lot of heat
• 27:56
  about my thumbnails. I always talk about what I say
• 27:59
  in my thumbnails so you can give me all the heat you want.
• 28:02
  I think $3000 gold, $5000 gold, $10,000 gold.
• 28:07
  I think silver. Who knows, right?
• 28:10
  Like Keith Neumeier, $100 silver.
• 28:13
  Oh my gosh, Keith Neumeier. That's low, buddy.
• 28:19
  We want $150.00 silver nonetheless, right?
• 28:22
  You talk about 3. Let's just focus in on how do
• 28:25
  you feel about $3000 gold? I think it's really possible,
• 28:29
  right? But people act like we're crazy.
• 28:32
  Now think about this when you talk to people about, oh, I
• 28:36
  there's a stock you should buy. It's $20 a share, and if that
• 28:42
  $20 per share stock were to go to $30 per share, well, that's
• 28:47
  perfectly normal. That's within the realm of
• 28:50
  possibilities in this make Believe Unicorn fart dust
• 28:54
  lollipops and Unicorn world. Where we live, a stock can go
• 28:58
  from 20 to 30. A crypto right can go from
• 29:02
  30,000 to 57,000 and that's normal.
• 29:07
  But God forbid you talk about gold going from 2000 to 3000, I
• 29:13
  think gold and silver are going to knock some socks off.
• 29:18
  I need to get a prop where socks go flying my socks.
• 29:21
  I think our socks are going to get knocked off.
• 29:23
  All right, So here I just let me read what I wrote because this,
• 29:27
  I thought was was very, very pertinent.
• 29:30
  Gold has done very well despite high interest rates.
• 29:32
  I already said that most experts say, and this has been, this is
• 29:37
  even better, this is even crazier when you think about
• 29:40
  gold and silver, OK, this what the strength, relative strength
• 29:46
  that we've had right now is all been done in an environment
• 29:51
  where Western investors are nowhere to be found.
• 29:55
  They're done right the the inventories in the
• 29:58
  GLDETF&SLVETF, even though I do not believe in those ETFSI do
• 30:03
  not. I do not recommend them.
• 30:05
  My personally not a financial advisor but western investors,
• 30:09
  the big money are have abandoned silver and gold.
• 30:13
  Yet the prices have done well. So the fact that the price is in
• 30:16
  that all we need from the West, not you and me, basement
• 30:21
  dwellers, but the other people in the West, is for gold and
• 30:26
  silver. Not to be loved, but just a
• 30:30
  little bit less hated, right? We need gold and silver to go
• 30:33
  from being rated an F by the mega majority to being just AD,
• 30:41
  and that will be massive money coming into.
• 30:44
  That's the silver lining. Pardon the pun.
• 30:47
  I'm going to pause for a second. Have a sip of coffee.
• 30:57
  And yes, I'm using some new software, so thank you for
• 30:59
  bearing with me through this. I know there's been a few little
• 31:03
  technical hiccups, but thank you guys.
• 31:05
  Wow, I just saw almost 400 people.
• 31:08
  Thank you. Thank you in advance for the
• 31:10
  Super chance. Thank you in advance for the
• 31:12
  thumbs up. Thank you in advance for
• 31:15
  subscribing to the channel. All right, hold on here.
• 31:20
  Central banks are diversifying away from the dollar in settling
• 31:24
  trade balances in gold. Did you know?
• 31:29
  Did you know? What is this telling us right
• 31:31
  now? Right now, guys, 20% of the
• 31:35
  world's oil trade is being settled outside of the dollar.
• 31:39
  Remember the Petro dollar? That's what allowed the United
• 31:43
  States to borrow the 34 trillion that we the world is moving away
• 31:47
  from it. They're moving towards things
• 31:50
  like gold. There's this gold for oil trade,
• 31:53
  like Saudi Arabia can sell oil to China and then immediately
• 31:59
  convert the yuan that China pays with into gold on the Shanghai
• 32:05
  Gold Exchange or the Shanghai Futures Exchange.
• 32:10
  And they get the benefit of getting to do that at a higher
• 32:14
  price because in China they have more of a physical market.
• 32:19
  And so the price reflects the true price for silver, the true
• 32:22
  price for gold. I mean, in China alone, often
• 32:27
  times we're seeing a silver price which is 10%, almost $2.00
• 32:32
  per oz higher than what it's trading for at the COMEX in the
• 32:36
  LBMAI. Got an old skeleton down here in
• 32:39
  the basement. I'm thinking of hanging it back
• 32:40
  in the background with a COMEX sign on it, but I don't want to
• 32:44
  get in trouble. Let me know.
• 32:46
  Send me an e-mail if you think that's a good idea.
• 32:48
  OK All right, let's move on. The majority of the world is
• 32:54
  moving to a more protectionist stance that's going on right
• 32:59
  now. OK.
• 33:01
  Heightened, geopolitical instability heightened.
• 33:06
  And everybody's talking about it getting worse, right?
• 33:08
  Charles Nenner talked about World War Three in the year
• 33:12
  2025. That's the smartest guy in the
• 33:16
  room right now, right? The Dutch analyst, he's a
• 33:20
  medical doctor. He worked for Goldman Sachs.
• 33:22
  He knows, he looks at the every cycle known to man and he's
• 33:26
  saying that we are in a war cycle.
• 33:29
  Gold and silver are the main beneficiaries of this increased
• 33:34
  geopolitical instability. It's everywhere we look.
• 33:38
  I mean, you look at the monetary, fiscal situation in
• 33:41
  the United States of America, the political situation, the
• 33:44
  social situation, right? We're supposedly the world
• 33:47
  superpower, you know? Hey, look, I love my country,
• 33:51
  but I don't love the decisions that some of our leaders, not
• 33:54
  all, but some of our leaders have made over the last 20 or 30
• 33:57
  years. We were doing a great job of
• 34:00
  screwing things up here domestically.
• 34:02
  The world, right. We're we're doing a great job.
• 34:06
  Congratulations, Washington. Even though you, you, you
• 34:09
  distaste gold and silver. And we know that gold and silver
• 34:13
  are considered the enemy of the dollar.
• 34:16
  You're doing a lot to help your enemy, gold and silver by
• 34:19
  screwing everything up monetarily, fiscally, socially,
• 34:21
  politically. But then we look at the world in
• 34:24
  the ramifications of the US geopolitical policy and the
• 34:28
  world in the bifurcation is creating amongst the BRICS
• 34:30
  countries. And yes, I can say the 510 BRICS
• 34:33
  countries faster than anybody on the Internet, Brazil, Russia,
• 34:37
  India, China, South Africa, Iran, Saudi Arabia, Egypt,
• 34:41
  Ethiopia and the United Arab Emirates.
• 34:45
  The world is changing, OK? Countries are moving to a more
• 34:50
  protectionist stance. I heard somebody say about the
• 34:53
  only country that's not is this guy in Argentina.
• 34:57
  And people are like, we don't really understand what he's
• 34:59
  doing. But nonetheless, he's about the
• 35:02
  only guy who's not getting into a more protectionist stance.
• 35:07
  And when people don't trust each other, and we can say that about
• 35:10
  the bricks, right? People don't trust each other.
• 35:14
  They're not going to trust each other's currency.
• 35:16
  We know they're not going to trust the dollar because they
• 35:19
  saw that that the dollar has been weaponized.
• 35:22
  They're not going to trust each other's currencies.
• 35:24
  What are they going to trust? I wonder if they might put a
• 35:29
  little trust into gold and silver.
• 35:33
  They've been around for a few thousand years.
• 35:35
  Maybe they will, maybe they will.
• 35:39
  I want to say thank you to channel sponsor Fortuna Silver.
• 35:44
  You can learn more about them at fortunasilver.com.
• 35:47
  They're going to be announcing their fourth quarter and annual
• 35:52
  production and financial results March 6th next week.
• 35:56
  So we'll be looking forward to that.
• 35:57
  You yes you want to mention about.
• 36:01
  The we've. Got a winner.
• 36:05
  Yeah. OK.
• 36:06
  Yes, sorry. And I was walkie-talkie.
• 36:09
  That's the boss from upstairs on the walkie-talkie Susie Fortuna,
• 36:13
  silver.com. And of course, you can also
• 36:17
  benefit from learning about first Mining Gold Gold
• 36:21
  Development company in Canada. They have two 5 million oz.
• 36:25
  Projects, Spring Pole in Ontario, Du Parquet in Quebec.
• 36:29
  They're working their way through the permitting process.
• 36:33
  OK, these mines aren't built yet, but they're in that phase
• 36:37
  where they're working on getting the permits for the mines.
• 36:40
  It can be a very exciting phase. There's a lot of catalyst coming
• 36:43
  up for the company. You can check out First Mining
• 36:46
  at firstmininggold.com. Also, we have a winner.
• 36:50
  I can't show you. It's gone.
• 36:52
  David S won the giveaway. We contacted him yesterday.
• 36:56
  He contacted us yesterday and then we contacted him back and
• 37:01
  congratulations to David S He's actually been a long time viewer
• 37:05
  of Ron's basement. Everything's packed up and going
• 37:08
  to be sent and he is going to send us a picture of himself
• 37:12
  with all of his silver booty. So congratulations.
• 37:16
  Stay tuned for announcements regarding future giveaways here
• 37:20
  in Ron's basement. OK, OK, I can't help.
• 37:26
  I can't help but but mention this to you guys really makes me
• 37:34
  mad. One of the lead articles I saw
• 37:37
  and I know what's today, Wednesday, but over the weekend
• 37:40
  and on Monday, I was like, what's the big news?
• 37:42
  You know what the big news, One of the big news items was this
• 37:45
  week, according to Reuters, according to Bloomberg,
• 37:49
  according to Yahoo Finance, CNBC, all that that.
• 37:53
  We had 10 Fed speakers this week.
• 37:56
  I mean, I won't go off on my diatribe, but it what, what that
• 38:01
  just tells you how synthetic, the monetary and fiscal and the
• 38:06
  economy has become. When the top news story is that
• 38:11
  the Fed, the ten of their governors are going to be
• 38:14
  speaking this week. It shouldn't be that way guys,
• 38:17
  OK? The Fed is a bank.
• 38:21
  They've turned into more of a public relations firm.
• 38:25
  They move the markets. They do it through verbal
• 38:29
  jujitsu or however you want to say it.
• 38:32
  OK, it shouldn't be that way. Back in the 1960s, I guarantee
• 38:38
  you, when we were on the gold standard, the silver standard,
• 38:41
  nobody cared what the Fed, St. Saint Louis Fed governor said.
• 38:45
  That a guy's gone now. Boo Lord, remember him?
• 38:47
  He was the worst. He was the biggest hawk out
• 38:50
  there. It's it's really screwy right
• 38:53
  now in this country that we're dealing with a a situation where
• 38:57
  the Fed is considered to be such a major market mover.
• 39:03
  Maybe the Fed, this man, I'm mad.
• 39:08
  Bear with me here. Maybe the Fed needs to talk
• 39:10
  about this, OK? That if you're part of the
• 39:14
  middle class in America, while they're out saying, oh,
• 39:17
  everything's great in the economy.
• 39:19
  Treasury Secretary Yellen saying everything's great out there in
• 39:22
  the economy. If you're part of the middle
• 39:24
  class in America right now, you're already in a recession,
• 39:29
  OK? If you're like my family or a
• 39:32
  lot of other families and maybe you are, guys, we're in a
• 39:36
  recession, OK? Our earnings, if not gone up as
• 39:40
  fast as the expenses. Food, housing, insurance,
• 39:45
  healthcare, gasoline, transportation, out of the list
• 39:49
  goes on and on. Nobody, except for very few
• 39:53
  exceptions, right where maybe somebody got a big promotion or
• 39:56
  whatever. Our incomes have not kept up
• 40:00
  with inflation. We are in a recession.
• 40:03
  And that's what this is what this this is the reality of what
• 40:07
  the Fed has done, right? Our government spent more money
• 40:11
  than it brought in the deficit, right?
• 40:14
  OK. I think this year it's like what
• 40:16
  1.4 trillion or last year it was 1.5 trillion.
• 40:20
  The government spent. It's like you spending more
• 40:22
  money than you make. There's there's a deficit that
• 40:25
  needs to be made-up. They have a choice.
• 40:28
  They can either raise taxes or right.
• 40:33
  They can borrow the money, borrow the money, and that's
• 40:37
  what they've done, print money. Eventually that borrowing leads
• 40:42
  to more and more printing of money.
• 40:44
  So they can either raise taxes on the wealthy, right, or the
• 40:49
  middle class, which they always like to do as well, or they can
• 40:53
  do it through the hidden tax, which is inflation.
• 40:57
  And that's what we just got a dose of.
• 40:59
  And that's what we're still getting a dose of.
• 41:01
  And that's what we're going to get more of a dose of in the
• 41:05
  coming years, because they're not addressing the fundamental
• 41:09
  underlying fact that the government's spending more than
• 41:12
  it brings in and that at some point, nobody's going to want to
• 41:15
  buy the debt. And the only thing they're going
• 41:17
  to be able to do is have the Fed print money and the Fed buy the
• 41:20
  debt. And that's just going to
• 41:21
  continue to devalue, dilute the value of the US dollar.
• 41:27
  And when the US dollar gets diluted, the more and more it
• 41:30
  gets diluted, right? That makes prices go up and up
• 41:35
  and up. But you know what?
• 41:36
  The wealthy don't care because that makes the price of their
• 41:40
  stocks go up. That makes the price of their
• 41:44
  real estate holdings go up. Let's say a guy owns 15 rental
• 41:48
  houses, right? And the government prints money.
• 41:51
  And how low is value of all of his real estate goes up?
• 41:54
  But guess what else he also gets to choose?
• 41:57
  Charge you if you're a renter, more in rent or that big swath
• 42:02
  of the American economy that can't afford to buy a house,
• 42:06
  right? The guy that owns 15 houses,
• 42:08
  like, hey, this is great. My house has went up in value
• 42:10
  and I can charge more for rent, right?
• 42:13
  But as a middle class person, your income's not going to
• 42:16
  change. Your expenses are only going to
• 42:19
  go up in the end, guys. That's why we hold silver and
• 42:23
  gold. Now we got to be real, right?
• 42:26
  I heard a couple people say this.
• 42:28
  Everything's gone up in price over the last three years,
• 42:30
  except silver. I believe it will.
• 42:33
  I don't have a crystal ball, but I do believe we will have better
• 42:38
  days ahead for us in the in the silver market.
• 42:42
  All right, guys, I'm going to wrap it up here.
• 42:44
  Thank you for being here. Thank you to the.
• 42:47
  Oh, OK. Say hi to everybody, Susie.
• 42:51
  Hi, everyone. Thanks so much for joining us
• 42:54
  today. It's very, very nice of you to
• 42:56
  take time out of your day to be here.
• 42:58
  We really, really appreciate it. Have a good one.
• 43:05
  Yeah, yeah. And.
• 43:06
  And I will get better with this technology.
• 43:10
  I promise you. I promise you I will get better
• 43:13
  with the technology. I can't see the likes.
• 43:16
  So, Susie, you let me know when we get to 200 likes.
• 43:19
  In the interim, I'm just going to look at you and the camera.
• 43:23
  All you basement dwellers out there. 350 people.
• 43:25
  I can see that. That is awesome.
• 43:27
  Thank you, man. You guys are awesome.
• 43:30
  Thank you for being here. Thank you in advance for the
• 43:33
  Super chats. the Super Thanks. As you watch the replay of the
• 43:37
  video. We're in.
• 43:39
  Did we get it? Come on, guys, we need some
• 43:43
  thumbs up, please. It'll happen.
• 43:46
  Susie's going to let me know. We're going to ring the bell.
• 43:49
  Four more? Yeah.
• 43:50
  If you already pressed it, then repress it.
• 43:52
  Did did we get it? We got.
• 44:03
  We got it. OK.
• 44:05
  I'm going to ring the bell away from the bell or away from the
• 44:08
  microphone. All right, guys.
• 44:17
  Thank you for being here. I'll try to be back tomorrow.
• 44:20
  I appreciate you. Have a great day and we'll talk
• 44:23
  to you soon. Thank you.
• 44:24
  To the moderators. I almost forgot, Type 88 is
• 44:27
  great for those that moderate. Thank you.