Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨SILVER CONSPIRACY THEORY🚨 and YOU Get FREE $5,000

Transcript

🚨SILVER CONSPIRACY THEORY🚨 and YOU Get FREE $5,000 · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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.
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3:22
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3:27
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And I would recommend to them, and I would recommend to you as
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3:48
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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
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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
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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.
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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.
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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
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the wedge, the wedgie that we're in right now, take a look at
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that. Do you see how the price over
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the last four years has been compressing down into a very,
7:20
very tight band? And if you look on there even
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toward like just what the last six months, it's even compressed
7:27
more. We're in a spot guys, where
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silver, when things get compressed like that into what's
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called a wedge pattern, it's going to break one way or the
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other. Look, we want to think and we
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want to believe that it's going to break up.
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And I, you know, when I look at the big picture with silver, I
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don't know how you feel about this, but when you look at the
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fundamental factors, the supply, demand factors, the geopolitical
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factors, the monetary factors supporting silver, I see it
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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
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you can subscribe to the channel that is free and what you will
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get is friendship, fun, education, gold and silver talk.
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And you know I'm trying to do it every single day so you can
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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
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average everyday Americans getting some free money.
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I'm going to try to share my screen with you guys one more
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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,
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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
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in Ann Arbor, MI offers financial incentives for
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consumers to choose American made products.
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So what does this have to do with silver?
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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.
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The Made in the USA tax credit. So it's a tax Credit Act seeks
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to revitalize American manufacturing by providing up to
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$2500 tax credit for individuals and $5000 for couples purchasing
11:03
goods that meet the Federal Trade Commission's Made in
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America standards, which require that the products must mostly be
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made in America. It would exclude luxury items,
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tobacco, firearms and vehicles. Why are they excluding vehicles
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aiming to make American goods? So basically, this is a tax
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credit. This is not a tax.
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Write off that they're talking about here, guys.
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And I'm going to come back to you.
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You're going to get to look at me again.
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A tax credit. So this means you could go out
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and spend $5000 on American made products.
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And at the end of the year, it's a credit on your tax return.
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Meaning that if last year you owed $5000, had this plan been
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in place and had you spent $5000 on American Made products, you
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would have, you would have not owed any taxes.
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If you got a $2000 refund last year and this set this bill
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proposed bill had been in place, you would have got a $7000
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refund. OK, but what does this have to
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do with Silver #1? How are we going to pay for
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this? And somebody not told them that
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we already have like a $2 trillion deficit and $34
12:14
trillion in national debt. Printed money, right?
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Dilution of the currency. And the only reason they're
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doing this is because it's an election year, right?
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But here's my question. They didn't say they're going to
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exclude silver. So in theory, right?
12:30
Couldn't we all get basically $5000 worth of free silver?
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Because last time I checked, I dug this out of the vault, went
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then got this, this beauty right there.
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See her right? That's an American Silver Eagle.
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I think this is made in America. So couldn't we just all go and
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and buy $5000 worth of American Silver Eagles and check that box
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on the tax return and show our receipt and get $5000 of free
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silver? I don't know.
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The way I read this, that seems to be a distinct possibility.
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So we'll have to see how this whole situation plays out.
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I I I could have had the best thumbnail in the history of the
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silver and gold community, $5000 free silver.
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I mean, it qualifies. It's not alcohol, tobacco,
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firearms or luxury. Well, maybe it's a luxury.
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No, it's not. It's a necessity.
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It's money. It's real money. 5000, we're all
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going to get $5000 of free silver.
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Maybe I will become a Democrat. All right, I digress.
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I got off subject OK, And they're going to pay for it with
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money. Printing is the used car market
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crashing. And this has to do with metal.
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OK? Had a keen insight yesterday.
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Number one is the economy crashing?
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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
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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.
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I love Honda. I always have.
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My dad bought one of the first Honda cars that ever came to
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America. I love Honda.
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I used to have Honda anything I could.
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I've shield away from that little bit.
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None the less, I'm in this Honda group and people in the Odyssey
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group are talking about how the value of their mini Vans.
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And then they went on to talk about all the other segments of
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the automobile used. Car prices are crashing, right?
14:34
Repos are through the roof. We happen to know of someone who
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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.
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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.
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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
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like, Oh, my car went up in value and oh, hold on.
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Oh, OK. Thank you.
15:31
That's Susie chiming in. Thank you, Susie.
15:36
That's the bell. That's the.
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OK, thank you, thank you, Susie. Thank you.
15:43
OK, back to my thought, right. The car market is crashing.
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People in this Odyssey Club are like, Oh my God, my car, My, my,
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my, my minivan was worth 12,000 three months ago.
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Now they're telling me it's worth 6000.
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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.
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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
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the biggest thing? What's the only thing left
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that's worth anything at the end of a car's lifestyle?
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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
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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.
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I'm looking at the car in front of me.
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I'm like, it's worth 15K. There was a lot of work that
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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
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that car that's worth anything at the end of the day?
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Metal. Right now, it's not made out of
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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.
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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.