Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **ALERT** Silver Investors to POUNCE on Dire Economic Developments

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**ALERT** Silver Investors to POUNCE on Dire Economic Developments · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:11
Hello basement dwellers. We are back and today we have a
0:14
big show, Silver and gold. We've got some bad, bad,
0:19
horrible, scary news to talk about, but we also have some
0:24
good news and for silver and gold investors.
0:28
This real bad news that we are going to talk about could
0:32
actually be good news. Real value in silver.
0:36
Real value in gold. But let's start.
0:39
What do you say we we're we're optimistic, positive people,
0:42
aren't you? I have a feeling right basement
0:44
dwellers. I know you.
0:45
You're an optimistic person. Let's start with the good news.
0:48
Let's talk about what is going on right now.
0:51
And this is big. And it rhymes with big it's the
0:56
Zig Zig. Have you heard about the Zig?
1:00
It is Zimbabwe's new gold standard, Zimbabwe's new gold
1:05
backed currency and it's getting a lot of.
1:08
Attention and we're going to talk about why the Western
1:12
countries. Might be a little upset about
1:14
this. Take a little look at history
1:16
and what the Western countries have done in recent years to
1:19
other countries that tried to go on to a gold standard.
1:22
But let's talk about what's going on with the Zig.
1:24
I'm going to read this to you as Zimbabwe's zig currency
1:28
strengthens OK? The day after it debuts, even as
1:32
it Royals commerce. OK, the whole reason why they're
1:36
doing this? Gold standard.
1:37
Gold standard. Can you believe it?
1:39
This is huge news, right? And it's one little experiment,
1:44
but it's not really an experiment.
1:47
What am I saying? I can't believe I said it's not
1:49
an experiment. It's going back to what has
1:52
worked traditionally over time. And that's what the Zimbabweans
1:55
want to do. They've had horrible currency
1:58
crisis in Zimbabwe over the last decades they've had.
2:03
Unbelievable. Crazy inflation.
2:06
So now they're backing a new currency.
2:09
With gold the. Gold standard.
2:10
What do you think that'll mean for silver?
2:12
You know what that'll mean for silver?
2:15
Banks. This is from Bloomberg.
2:17
Banks, Utility providers still working.
2:20
This is interesting. The.
2:21
IMF, The International Monetary. Fund says they need time to
2:26
study the impact of the nation's new currency.
2:30
I bet they do, right? They've come out and said in the
2:33
past. I remember it was like about a
2:35
year ago when I believe it was Zimbabwe.
2:38
Maybe it was Uganda somebody, but they were like.
2:41
Anything other than the dollar and a debt based system where we
2:45
get to loan you money and put you into a huge trap is a bad
2:49
idea, right? Zimbabwe is bucking the trend.
2:52
Zimbabwe's new gold back currency, the Zig, strengthened
2:55
a day after its debut. It's strengthened even as it
3:00
royal commerce nationwide as banks, retailers and utilities
3:04
battled to switch to the new unit.
3:05
It gained .2% to 13.53 per U.S. dollar.
3:12
OK, it's gaining value against the dollar.
3:16
Let's do this. Hold on, let's go.
3:18
Let's just go check and see what the world is saying.
3:23
I went in and did a Google search on the Zimbabwe Zig and
3:27
look at these top stories from Bloomberg Zimbabwe Zig Rally.
3:32
Enters third day, three days in a row.
3:35
It's rallying against the dollar.
3:37
I wonder why is the dollar based?
3:40
Oh yeah, the dollar's not based on anything but confidence.
3:44
Very interesting, adds Point. 4% against the dollar.
3:48
That was just six hours ago, Reuter says.
3:51
Zimbabwe's new Zig currency starts trading Credibility.
3:56
Doubts linger. The West is going to bash this.
3:59
MarketWatch, Zimbabwe's new gold backed currency, the Zig is on A
4:03
roll. That was just two hours ago
4:06
Zimbabwe to publish info. This is interesting.
4:09
Now they're saying they're going to publish inflation data.
4:13
Not only in they're going to have it in dollars and in zig.
4:17
And you know what's going to happen.
4:19
You know what's going to happen? Well, we know what's going to
4:21
happen because didn't we hear it from the Federal Reserve?
4:25
Well, the Philadelphia Federal Reserve just a few weeks back.
4:28
What's gonna happen is it's gonna show that a gold backed
4:31
currency helps control inflation, right?
4:34
Gold and silver backing money works, did it.
4:38
Work in the United States. What do you think it worked in
4:41
the United States? And we've talked about this ad
4:44
nauseam. It worked for for 100 years.
4:46
It was the period of time in this country had its absolute
4:51
greatest periods of growth and greatness.
4:53
However, you want to say it right where we.
4:55
We're, we're, we're average people prospered in the United
4:58
States. Let me.
4:59
Ask you a. Question basement dweller.
5:03
I'm 54 years old. You're probably around my age,
5:07
right? Since we've been alive, do you
5:09
think that the middle class, average Americans are doing
5:12
better now that we're off the gold standard or worse?
5:15
That's an easy question for us to answer, of course, right?
5:19
The paper Nixon taking us off the gold standard has not
5:23
resulted in a good situation for average Americans.
5:28
Let's say 90% of Americans, maybe 95% of Americans, I think
5:33
in real terms are worse off now than in 1971, when we were
5:39
indeed still on the gold standard.
5:42
OK, remember what the Philadelphia Federal Reserve
5:45
said? The Federal Reserve.
5:48
They put out a report last week and of touting the potential
5:52
benefits of a gold standard for controlling inflation, for
5:57
helping people. Average people like you and me
6:00
maintain their wealth, OK? Let's talk about more good news.
6:06
For silver investors, Gold investors.
6:08
And by the way, the best news is you join me here today.
6:12
It's a big, big deal when you come to the basement.
6:15
Thank you for being here. OK.
6:17
It's me. It's you.
6:18
It's our group. We're together.
6:20
Please give this a thumbs up. You can subscribe to the channel
6:24
that's free. And super chats are always super
6:27
appreciated. Thank you for being here.
6:29
That's number one, right? We're together.
6:31
We're a group welcome, welcome, welcome to the basement where
6:34
you're a basement dweller. Let's talk about China, it
6:37
continues, continues silver. What is this telling us big
6:43
picture about silver. We know that Janet Yellen just
6:48
went to China and told it doesn't make any sense.
6:52
Janet Yellen went to China and said basically said stop making
6:56
so many solar panels. Stop making so many electric
6:59
cars. We know we bashed you 10 years
7:02
ago for being the worst polluting country on the earth.
7:05
We've showed pictures of rivers that were green and blue and
7:08
everything else and all the coal that you're burning.
7:11
But look look. You need to stop.
7:14
You need to. Stop with this.
7:15
All these solar panels you've learned how to produce so
7:18
efficiently, and all these electric cars that are a little
7:22
bit better value than the ones that we make in the West.
7:25
You need to slow down on that. Oh, and by the way, China,
7:29
you're using, you're sucking in all.
7:31
The world's silver? You know the story on Silver and
7:36
you know we know the big picture, right?
7:39
The amount of silver coming out of the ground from the mines is
7:42
going down, down, down, while at the same time the demand is
7:46
going up, up, up. That's in a nutshell, us
7:49
basement dwellers. No, all those statistics.
7:52
Projected demand for solar. Projected demand for anything
7:56
electronic through the roof. Did Yellen tell them when she.
8:00
I don't know. I'm just, I'm we're just kind of
8:02
putting the pieces together. Did Yellen tell them?
8:05
Maybe when she wasn't, she was drinking beer.
8:08
I saw a picture of her drinking. What is she doing here?
8:12
Let's get Janet out for one second.
8:14
Where is she? There she is.
8:16
Can you Can you imagine her drinking beer and telling the
8:24
Chinese to knock it off? But what is crazy about silver?
8:29
In China right now. Let's go.
8:31
I got the latest and greatest. This comes from our friend the
8:35
Oriental Ghost. This is the price of silver in
8:39
China. This was as of the close last
8:42
night. Guys, this is so critical.
8:44
The S up in the upper left corner, you see the AG, that's
8:48
silver and that's the Shanghai Gold Exchange.
8:51
SGE go all the way over to the right.
8:55
Close price in U.S. dollars per oz.
8:58
Almost $31 per oz. This is getting absolutely out
9:03
of control. Go down to the third on the
9:07
left. Silver on the Shanghai Futures
9:09
Exchange. $30.93 per oz. The Chinese are sucking all the
9:17
gold, all the silver out of the world.
9:20
There's a huge, huge situation developing right now where not
9:25
only are they buying it off places like the COMEX and the
9:28
LBMA that mean there's all types of theories about how this is
9:32
occurring. There's also now direct
9:35
relationships between Chinese refiners and gold silver miners
9:41
to avoid the big electronic exchanges altogether.
9:44
But the guys? They're paying $3 almost per oz
9:48
more for silver. I mean, that's the math, right?
9:51
We're around 20. 8-2 dollars, $3, whatever it is, they're
9:54
paying a huge, huge premium. This incentivizes people to send
10:00
to buy silver in the West, right?
10:02
Turn around and sell it for what, almost 10% more in China?
10:07
Can you see what is going on right now?
10:09
This this situation is huge. It's huge and it's not by the
10:15
way. But wait, but wait, Basement
10:18
dwellers, you know, there's always more.
10:20
There is more, right? Because we know.
10:22
And when are we going to get? Who knows?
10:24
Does do you know I can't do all this on my own basement
10:27
dwellers, Do you know the March numbers for India's silver
10:31
imports? Because I don't.
10:33
Maybe they haven't been published yet, but we I got, I
10:36
got Pat. We had Pat Holland on yesterday.
10:38
He kept saying to me, I. Got a little secret for you.
10:41
I got a little secret. For you, we do know that in
10:43
February, the Indians, right? We we were just talking about
10:46
China, but India imported 70 million ounces of silver.
10:50
I know that's the 18th time I've told you that, but bear with me.
10:54
It's such a crazy amount of silver.
10:56
It's darn near 10%. Of the world's mining production
11:01
for the entire year going to 1. Country India.
11:07
That's not even counting what's going on with China with what we
11:11
just looked at. All right, one more time.
11:13
I want you to look over there on the far right corner.
11:16
Closing price. U.S. dollars per oz. 31 dollars
11:20
we're going to round up right? Because we're accountants $31.00
11:23
per oz. It just gets crazier and crazier
11:27
the more we look at this. Bad news Warning if you were
11:32
only here for good news. Now we're going to start talking
11:35
about. The bad bad bad.
11:37
News. Hey, don't forget at 11:00
11:39
Central, 45 minutes from now, we have a new video.
11:43
It's a premiere with James Anderson, where he goes through
11:47
a lot of this stuff as well. Super smart guy.
11:49
Super smart guy. James is gets a lot of respect
11:53
in the precious metal sector and it's a great video.
11:57
Again, it's a premiere that we're doing on Ron's basement in
12:00
about 45 minutes here at 11:00 AM.
12:02
Now let's get into the bad news. OK, let's just be briefly talk
12:07
about big scary. This is serious.
12:11
I'm you know, I like to joke around but the wars that are
12:14
going on in this world right now are scary and serious.
12:18
And yes, you know we don't want war.
12:22
I could. I think you can.
12:23
You and I can agree on that right?
12:24
Basement dwellers. But it is getting.
12:27
But we need to pull our head out of the sand and it is getting
12:29
scarier and scarier. Last night Russia attacked the
12:33
Ukraine with I think 6 hypersonic missiles.
12:36
Those those are the ones that are almost impossible to defend
12:39
against. Blew up major power stations
12:42
major destruction in Ukraine. The, the, the, the situation in
12:47
Europe is getting, is getting very, very scary.
12:52
OK, now on top of that, Can you believe if we told if you and
12:57
I've been talking five years ago, that we'd be talking about
13:00
a war in Europe, basically between the East and the West,
13:04
between Russia and when the West, Some people say we're
13:07
basically at war, we're funding it, providing weapons.
13:10
Anyway, I digress. It gets even scarier when we go
13:14
to the Middle East where there's this, we're all on pins and
13:17
needles waiting to see if Iran is actually going to attack
13:22
Israel. And then there's talk about the
13:24
United States helping Israel defend itself.
13:27
It is very scary. Our hearts and prayers go out to
13:31
everyone in all of these regions right now.
13:36
If we're going to be, if we're going to talk about this from a
13:39
precious metals perspective, gold and silver benefit, I hate
13:44
to use that word, not benefit protect or they derive a lot of
13:49
their value through geopolitical turmoil.
13:52
And we have scary bad situations going on both in Europe and in
13:56
the Middle East. Not to mention a bunch of other
13:58
potential powder kegs. China with Taiwan, North and
14:01
South Korea, the list goes on and on.
14:04
We are living. And do you feel it?
14:06
I mean, I mean, do you? Does it scare you?
14:10
It scares me to think about this stuff like this world that we're
14:15
living in. Just real quickly.
14:16
Let's go through the list. The big four right now, War in
14:19
Europe. War in the Middle East.
14:21
China and Taiwan. Situation North and South Korea.
14:25
North Korea is a big, powerful country.
14:28
This is Hey we got 100. Thumbs up.
14:31
I'm going to ring the dinger here in just one second.
14:33
It's a scary time. Did you ever think that we would
14:36
be experiencing this right? Is this why we hold precious
14:40
metals? It's a big part of the reason
14:42
why, right? Unfortunately, the world hasn't
14:45
learned how to get along yet. Hey guys, we got 100.
14:48
Thumbs up. It's time to ring the the
14:49
ringer, the pocket pinger. And let's do we'll do, we'll
14:53
stick with Big Tim's. Look at that.
14:55
Isn't that beautiful? That's from Big Tim, The Silver
14:58
Shire. Nice, beautiful silver round ten
15:02
rings of the bell. Because we got 100 thumbs up.
15:08
967. I'm supposed to smile when I do
15:12
this. You smile too, 8910.
15:14
All right, guys, what else is bad news?
15:18
Big bad news. And I'm going to get to it.
15:20
Next I need to have a quick sip of coffee.
15:22
Why don't we all smile for one second and I'll have a sip of
15:25
coffee? Inflation, Interest rates
15:38
screaming higher. OK, stock market crumbles,
15:43
mortgage rates going up. This all happened yesterday, but
15:47
what critical information is it telling us?
15:50
For silver and gold investors, this is bad, right?
15:53
Inflation going up. Interest rates went flying up.
15:57
OK, let's take a look. I've got something.
16:00
You're going to be you're going to be floored.
16:02
I was floored when I learned this last night.
16:05
You're going to be floored by this.
16:07
Let's go take a look at something very, very
16:11
interesting. We're going to look at at the
16:15
interest rates, OK. We're going to go out to Yahoo
16:18
Finance. This is if you look up here
16:20
where my cursor is, the 10 year bond yield.
16:23
OK, let me refresh. Well, let me refresh real quick
16:29
just to get an up to date number for us.
16:31
OK. So right now we are at 4.57.
16:37
This is crazy guys, let's go here.
16:39
I like the little simple chart. Let's look at a one year chart.
16:43
The interest rates going up are bad for gold, bad for silver,
16:47
right? That's what you've heard.
16:48
Is that true? Is it?
16:50
We're. I'm gonna.
16:50
We're gonna blow this whole thing up right now.
16:53
OK, let's go over here. This is one year.
16:56
So right now. Where we are, as you can see,
16:59
4.57. If we go over here, this is the
17:02
only time in the last year that we were above 4.57%.
17:07
So from about September through let's say October, was that
17:11
September about one month, OK. But but it gets even more
17:16
interesting if we make that a maximum, OK, and we go back over
17:22
here to where we are right now. Guys, we've not been we.
17:26
We were. We we.
17:28
This is this is the big. Deal.
17:30
We've only been in an environment with higher interest
17:33
rates than we have right now for basically what a month is, what
17:37
that chart showed me in the last year.
17:40
But it's actually we can go all the way back over here to O
17:46
seven O 6, which is what 18 years ago.
17:50
We have only been in a higher interest rate environment than
17:54
where we are right now for what we discovered a month, month and
17:59
a half, two months in the last 18 years and really.
18:03
If you go all the way back here, here's the last time where rates
18:06
consistently stayed above that level, that's back in O1, O2,
18:11
that's 25 years. The the message here that we
18:14
need to remember is that we, you know, we're we're hearing about
18:18
how, oh you know, interest rates are going to go up and that's
18:21
bad for gold and silver guys, we're we're in Nosebleed
18:26
territory. From the perspective of the last
18:29
20 years, OK. And rates can't go any higher,
18:33
remember. OK, the Fed again, let's go
18:37
back. I mean look at this, look at
18:38
this. We've only been high.
18:40
I mean it would you go back let's say 20 years to get to a
18:45
point where interest rates have been higher?
18:48
OK. Do you the and and and look at
18:52
look at the amount of government debt that we have.
18:55
All right. OK let's let's go real quickly.
18:58
I'm. I know it's been a couple days.
19:00
We just need to check to make sure.
19:03
Hold on. Let's go out and look at the US
19:06
debt clock here. Hold on, hold on.
19:10
Because we're in this environment where we've not had
19:13
higher rates over the last 20 years and people are talking
19:18
about rates going higher. OK, we're going to look at it
19:23
quick. Come on.
19:25
Here it is. Oh boy.
19:26
Boy, I remember when it went to 34 trillion, 600 billion, just
19:30
about a week. Ago seems like they're adding 10
19:33
billion or so. Are there 34?
19:35
We're, we're, we're, we're now closer to 35 trillion in debt.
19:38
And you're going to tell us, you're going to tell us that
19:41
they're going to raise rates, Hold on.
19:44
Hopefully you guys can. I'm gonna show you one last
19:46
time, right? That's where we are right there.
19:49
See that? That horizontal line that goes
19:51
across, that was the last time we were a little bit higher.
19:54
And this is when it really stayed, was much higher.
19:57
It's 25 years. So you're gonna tell me.
20:01
You're gonna tell me. They're gonna raise rates.
20:02
No, they can't raise rates. Rates are already high.
20:07
We're already in Nosebleed territory.
20:10
The amount of government debt is out of control and that's
20:12
nothing I mean, well, and on top of that, let's say you add
20:16
corporate debt, business debt. On top of that you add personal
20:20
debt, credit card debt. On top of that, you Add all the
20:24
debt in the world. I got news for you basement
20:27
dwellers, right? There's more than the United
20:29
States, right? I think total debt in the world,
20:32
they're saying is 300. The world financial system is
20:36
already under great stress. It won't accommodate rates going
20:41
any higher. And that's why gold and silver
20:45
are staying where they are. They know what's going on and
20:47
I'm going to show it to you visually here in just one
20:50
second. But guess what?
20:52
So the Fed can't raise rates, right?
20:54
Well, guess what? the Fed can't lower rates
20:57
either. OK?
20:58
Everybody thinks they're gonna lower rates.
21:00
No. You know what's gonna?
21:01
You know what would happen? Little secret, right?
21:03
They can't raise rates 'cause there's so much debt won't
21:05
accommodate it. They can't lower rates 'cause
21:08
there's this little problem called inflation and the Fed is
21:12
losing its potency to fight against inflation because
21:16
because of the bricks, because the world is changing, because
21:18
of what's called supply side inflation, that has really very
21:22
little to do with monetary policy and interest rates.
21:26
We are in an untenable situation.
21:29
I got to get him out. There you go, guys.
21:34
Do not open this box. Right?
21:36
Right. Because this guy, where is it?
21:39
I used to have a screwdriver down here.
21:41
This guy is is is kind of screwed.
21:45
I mean, that's just the reality, right?
21:47
He's got his Unicorn in there with him, right?
21:49
His little Unicorn. There it is.
21:52
And he squeezes to make more money.
21:54
Unicorn fart dust. And that's all he's gonna be
21:57
able to do. That's his only solution.
21:59
Create more money. Print more money.
22:02
Devalue the US dollar, right, Which will be nothing but
22:08
double. Triple.
22:09
Are you ready for double? Triple.
22:10
Double triple. Rocket fuel for the price of
22:14
silver and gold for the. Real value.
22:17
We talk about that all the time. OK, inflation is coming and the
22:22
Fed is impotent. I wrote this for you, so please
22:25
listen. Oh, this is this is big.
22:29
I'll. I'll leave him in his box.
22:31
We got to remember something. OK, Inflation's coming, and the
22:34
Fed is impotent. We just covered.
22:36
They can't raise rates. They can't lower rates.
22:38
He's in a box, right? OK.
22:40
That's the last. Thing.
22:41
Remember this. This is critical.
22:44
This is critical, right? Nobody's going to tell you this
22:47
except Ron from Ron's basement, right?
22:50
The last thing that the Fed is going to say is that we're kind
22:54
of screwed. OK, I think I can use that word
22:56
on this channel. If that offends anyone, please
22:58
send me an e-mail. Let me know in big trouble.
23:01
That's the last thing. Remember the movie The Wizard of
23:03
Oz? And at the end of the movie,
23:06
they figure out who the man behind the curtain is.
23:09
And he's impotent. He's just, you know, it's it's
23:12
that's exactly. Exactly.
23:15
The situation we're dealing with right now with the Fed.
23:18
I'm sorry, I don't like it. I don't like the Fed.
23:20
I didn't create the Fed, right. I like what our founding fathers
23:24
created for us, this thing called the United States
23:28
Constitution, which explicitly says gold and silver are the
23:31
only forms of real money. And we got people like Pat
23:34
Holland and Daniel Diaz right now in the Missouri State
23:37
Capitol trying to fight for you. Daniel Diaz on a national basis.
23:41
Pat Holland as well, to get these legal tender laws passed.
23:45
This is not going to be a show about legal tender, but that's
23:48
the answer, right? It's the Wizard of Oz.
23:50
It's a con game. It's a con game, guys.
23:54
That's all it is. This.
23:55
Where'd it go? I used to have.
23:57
One down here, maybe it blew away.
23:59
Let me tell you something. These things can blow away,
24:01
right? This is a confidence game.
24:04
And hey it. Worked.
24:05
I'm not. You know, I'm an American.
24:07
I wish, if I could wish Upon a star right, I would wish that
24:12
this little beauty right. They are pretty.
24:15
They're cool, right? I was brainwashed into liking
24:18
these things. Give me a stack of hundreds.
24:20
Ah, my eyes will light up. I.
24:21
Wish it was still backed by real something real metal.
24:25
Something real, right. This blows away.
24:27
Watch. See.
24:30
Floats. It's magic, right?
24:32
Let me let me show you something.
24:34
It's time for show and tell. Sit down.
24:36
Take a drink of coffee. I'm going to show you something
24:38
very beautiful. I'm trying to get it to come
24:43
into focus. This does not blow away.
24:47
This is a beautiful American Silver Eagle.
24:51
It will not blow away. It's real.
24:53
OK. It's a con game and the Fed is
24:57
in a box. And what this proves, and what
25:01
we've been proven, this is also. Key.
25:03
Right. Everything's been thrown out the
25:05
window, right? Including this idea that gold
25:08
and silver cannot go up in a rising interest rate
25:12
environment. OK, next we're gonna talk about,
25:15
we're gonna, we're gonna, you're gonna learn something and I'm
25:17
gonna make it so simple for you. You know those aha moments when
25:21
you're like, wow, now it makes sense if you don't understand
25:24
this. And this is one of the key
25:26
fundamental reasons why you should be investing in silver
25:30
and gold. You're I'm, I'm, I'm.
25:32
My goal for you is to give you an aha moment here in a second.
25:37
Aha. I'll do my best, but let's go
25:38
check on the silver and gold price.
25:40
Look, these are all short term noise moves at this point.
25:44
OK, let's go out to pin backs. OK, let's have refresh.
25:48
Hold your breath, guys. And.
25:50
OK, gold is up $4.00, silver down $0.05.
25:55
Yes we have gold at $2338. We have silver fighting for 28
26:01
dollars. $28.00 on the silver price is so critical.
26:07
OK I was talking with coin shot Chris last night via text and he
26:11
said we got this fight going on for $28.00.
26:14
Can we hold it? Will we build a?
26:15
Floor, I said. I hope so.
26:17
Because I think that in a week or two, we're either going to be
26:20
at $3132 or we're going to be down by $25.
26:24
I think it's about 5050. I'm just being honest with you,
26:28
28 is a critical level for the silver price.
26:31
And let me tell you something. I got a.
26:35
Secret Once we get to 3132, it's going to do exactly what Gold
26:39
did. It's going to go write this down
26:42
that on what is today, April 11th, 2024, Ron from Rons
26:47
Basement said that once a silver breaks $32 per oz, it's going to
26:53
go to $40.00 an ounce within 24 days.
26:57
OK, that's going to happen quick.
26:59
And we're going to be like, whoa, we got $40 silver, just
27:03
like gold went above 2021 hundred and when it made its
27:07
break, moved up to where it is today.
27:09
I could be wrong. Don't make any financial
27:12
decisions based upon anything I say.
27:13
But if you. Find yourself curious about
27:17
wanting to buy some silver, gold, or platinum?
27:20
Come to this website. I I believe you're seeing it
27:23
right now. If my if my technology is
27:25
working as as as prescribed, it's called pinbex.com Pi MB EX.
27:32
They're an online bullion dealer.
27:35
They're growing. They have a a business model
27:40
that works and one of their core values is to try to get as much
27:46
metal into the hands of everyday.
27:48
Average people like you to give you more metal for your money.
27:53
Now that's what I found out when I worked with Pinbex.
27:56
One of the basement dwellers told me check out Pinbex.
27:58
I checked out Pinbex. I read about Pinbex.
28:01
I made a couple of purchases from Pinbex.
28:04
I was very happy. What I found was that their
28:07
prices were always the best, their service was great, and
28:11
they had everything that I wanted, The exact same products
28:14
that I could get at some of the other big online bullion
28:17
dealers. I think that if you do what I
28:20
did, go out, check out Pembex, you'll find what I found.
28:23
But you need to find that out for yourself.
28:27
You can go to pembex.com and thank you to Pembex for
28:31
sponsoring the basement. They make this possible.
28:33
All right, let's move on guys. Real.
28:35
If you heard this, OK, now then don't let this scare you away.
28:40
But everybody talks about how real interest rates are what
28:43
are, what are, what controls the price of gold for you know real
28:47
interest rates and what's a real interest rate.
28:50
Here we go, OK, this is interest rate.
28:54
OK, this is inflation. I'm going to hold it like this
28:59
right now. OK, so right now interest rates,
29:02
the prevailing, the prevailing interest rates are at about 5%.
29:06
Inflation is about 3%. So to calculate real interest
29:11
rates, you subtract inflation, that's about 3% from the
29:16
prevailing interest rate, about 5%, and you get a positive real
29:21
interest rate, right? You take out what you lose to
29:25
inflation from what you're earning on your interest.
29:28
So if you subtract 3% from 5%, you get real interest rates are
29:33
positive right now. That's bad.
29:35
That's bad for gold. That's bad for silver.
29:37
OK, now let's talk about how, how how this situation can
29:43
change and all the, a lot of the silver and gold community is
29:46
saying, oh, well, when when interest rates that's all we
29:49
hear about the Fed's going to lower rates.
29:51
That's all we've heard about for like what the last six months,
29:54
right. The Fed's going to lower rates.
29:56
When they lower interest rates and they come down, right?
29:59
And then they go below the inflation rate, then we get
30:04
negative real interest rates. Because when you subtract the
30:07
inflation, right, this part here, you're losing.
30:10
If inflation's 3% and the interest rates 1%, well, you're
30:14
losing 3% and only making 1%. That's good for silver and gold.
30:18
But wait, there's more. OK, OK.
30:21
There's another way that nobody talks about that these real
30:26
interest rates can go negative. All right, So if.
30:29
You have your. Inflation right here, and we've
30:30
talked about this, inflation is not going anywhere.
30:34
This is let's. Say, I'm sorry, interest rates
30:37
are not going anywhere, Interest rates at 5%, OK.
30:41
And we have inflation still down here at 3%, right?
30:45
If inflation goes up and gets higher, let's say to 8% again,
30:51
and interest rates are still at 5% because the debt won't
30:54
accommodate them raising interest rates, everything blows
30:56
up. Now again, this is the other
31:00
scenario. But wait, there's more.
31:01
Bear with me. Real good news.
31:04
But under this scenario, 8% inflation, 5% interest rate,
31:09
right? You subtract the 8% inflation
31:11
from the 5% return, you're at -3%.
31:15
Very good environment. Now what is the Holy Grail?
31:18
What is the? Ultimate The absolute ultimate
31:22
situation. Think about this.
31:24
Here we are right now. This is where we are.
31:26
Right now, interest rates 5%, you can earn 5% anywhere at a
31:32
money market, a short term CD, whatever, OK, Inflation's only
31:36
3%, so you can actually come out ahead 2%.
31:41
Real interest rates are positive.
31:43
But if they both move at the same time, if we get inflation
31:47
going up, which is happening and will continue to happen,
31:51
inflation going up and the Fed who's in a box, does have to cut
31:56
rates a little bit. This is the Holy Grail.
31:59
This is when this difference between inflation and lowering
32:04
interest rates even becomes more pronounced.
32:06
Negative real rate interest rates become even bigger.
32:09
And you know what happens then? You want to know what happens
32:11
then? I've told this story.
32:13
It's been a little while, right? I have a neighborhood swimming.
32:16
Pool here where I live. In my neighborhood, it's
32:18
wonderful, a little. It's like a watering hole.
32:20
It's been there for 50 years. It's beautiful.
32:23
People donate their time anyway when I go to the neighborhood
32:26
swimming pool. Nobody.
32:29
I mean, nobody wants to talk about silver and gold, OK.
32:33
So under this scenario, under this scenario when you have in
32:38
inflation going up, up, up, up. In interest rates, is that
32:43
upside down? It is.
32:47
Sorry, interest rates going down, down, down.
32:50
About right here is when my neighbors start, right here is
32:54
when my neighbors start to wake up, right.
32:56
They're like inflation's going up, interest rates are going
32:58
down. My paper money, where did it go?
33:03
It's on the floor. Where it belongs right?
33:08
My paper money is losing value. Well, talk, talk.
33:11
To me. And everybody's going to gather
33:13
around me in the swimming pool, You know, there's going to be a
33:15
glow above my head. And then they'll all be saying,
33:19
tell us about silver and gold. Tell us right.
33:21
Yeah, sure I will. You should have listened about
33:24
three years ago. I could be wrong.
33:26
Maybe they never will gather around me, but I think it's
33:29
going to happen, OK. I think it's going to happen.
33:33
We got a lot more to cover, guys, and it gets even more
33:36
interesting from here. OK, but but but let's go.
33:42
Let's. All right, Let's talk about
33:43
inflation quickly and quickly. I've got something to show you.
33:46
Show and tell time. Hold on here.
33:50
Doo Doo Doo Doo Doo Doo Doo. Proud as a Peacock.
33:54
Remember that. NBC proud as a Peacock.
33:57
Maybe you don't. Maybe you do.
33:58
NBC News says consumer price growth accelerated in March.
34:03
Well, no joke. Have you been to the grocery
34:05
store? The gas station lately, Adding
34:08
to cloudy picture for the US economy?
34:11
Oh no, I told you this was. Bad, bad, bad.
34:15
I'd shut this off. Here we go.
34:17
OK. Hopefully you guys can still
34:20
hear me. Since the start of the pandemic,
34:22
Americans have seen average prices increase more than 20%
34:27
overall. Wrong.
34:29
Wrong. Wrong.
34:30
Despite this, economic growth in the US rolls on because we've
34:34
got Bionomics. All right, let's go.
34:37
I want to get right to. Here we go.
34:41
We're not. Yeah.
34:41
I'm not going to bore you with all this.
34:43
You know. You already know this inflation,
34:45
blah, blah, blah, blah, blah. I got it right here.
34:48
Let me highlight. This but.
34:52
And we like big butts, and it's a big butt.
34:55
Greg McBride, chief financial analyst at Bank rate, put the
34:59
situation succinctly in an e-mail following Wednesday's
35:04
release. Drum roll, Drum roll.
35:08
OK, drum roll. Mr. Bryant said.
35:13
Quote, there is no improvement here.
35:17
We are moving in the wrong direction, he said.
35:21
Inflation is going up guys. OK And the Fed, I'll say it one
35:28
last time, cannot raise rates because the massive debt levels
35:32
of the United States in general and the world will not
35:34
accommodate it. OK.
35:36
On paper the use US economies look solid.
35:39
The unemployment rate has remained low, below 4%, because
35:42
we all know the Bureau of Labor and Statistics puts out accurate
35:45
numbers. For the longest stretch since
35:47
the 1960s, stocks have been at all time highs.
35:51
The economy continues to add jobs, but since the start of the
35:55
pandemic, Americans have seen the average price increase of
35:57
20% overall. Wrong.
35:59
We're going to prove it to them again one last time.
36:03
Hey, this comes from my old buddy Secret Sean.
36:09
Not Secret. Sean.
36:10
Sean, my college roommate. OK.
36:13
And he wants me to say hello to his daughter.
36:16
Neve. Neve.
36:17
Welcome to the basement. We get a lot of younger kids
36:19
that believe it or not which is very encouraging that enjoy
36:23
watching Ron's basement. So Neve give your dad a big
36:26
kiss. Tom.
36:27
It's from me. But he Sean provided this.
36:29
Guys, this shows just so clearly right now.
36:33
Price increases January of 2020 through January 2024 in four
36:38
years and I'm just going to go we did this cream of mushroom
36:41
soup anyway. It went from $0.99 to $1.50.
36:47
I think that's like in a lot of those casserole dishes that
36:50
people make. Butter.
36:54
Let's look at butter. I haven't looked at butter
36:56
$4.00. Now it's only 550 for a pound of
36:58
butter, up 37% anyway. The average increase, 46%.
37:05
So they're trying to tell us that inflation.
37:07
Yeah, right. No, we don't believe it.
37:09
We don't buy it, OK. Inflation is here to stay, OK.
37:13
They cannot if they lower rates do.
37:16
You know what's going to happen to inflation, right?
37:19
Remember, Right. Remember over here, guys,
37:22
Remember, here's inflation. Here's the interest rates.
37:26
If they lower interest rates, OK, maybe by 1%.
37:31
Let's say inflation goes. There it goes.
37:34
Do you see it? Watch.
37:36
That means inflation. Goes up super.
37:39
High Wow. This is a break breakthrough
37:41
moment for me because this is what everybody thinks is going
37:44
to happen. Everybody thinks the Fed's going
37:46
to lower interest rates that will make inflation go up and as
37:50
inflation gets to 10%, OK, and. Interest rates are at 2%, let's
37:56
say, or 4% or 3%, doesn't matter.
37:59
Say they're at 3%. OK.
38:01
Inflation. It keeps going off the screen.
38:03
It keeps wanting to go higher. It can't hold this down.
38:05
All right. And the value of the dollar.
38:07
Keeps going on the floor anyway, inflation's up here and we got
38:11
three that's 7% negative real interest rates.
38:16
You know what that does for the price The value of your silver
38:19
and gold that that probably that makes we will have more people
38:27
wanting to join us in the basement.
38:29
I might just have to make it an exclusive for you that have been
38:31
here from the very get go wanting to learn about what's
38:34
going on and and and and and and why can't they raise rates.
38:39
Do you want me to show you basement dwellers?
38:42
Huh. I love you guys.
38:43
Thank you again for being here. Thank you for the thumbs up.
38:45
Thank you for the Super chats. Thank you for subscribing.
38:48
Most importantly, seriously, thank you for being a basement
38:52
dweller for these few moments we get to hang out together.
38:55
It's a big honor. Susie.
38:57
Oh, Susie. I'm sorry.
38:58
I don't. I don't have Susie turned on.
39:00
She is home today. She's back.
39:02
Susie came back home. For all of those of you that
39:05
were concerned about that, she was not here yesterday.
39:08
Susie. Is your walkie on?
39:09
Yeah. And my.
39:11
Walkie's been on. Oh, do you want to say hi to
39:16
everybody real quick? Sure.
39:19
Hey, everyone. Thank you so much for being here
39:22
with us this morning. I hope you're doing well and and
39:25
have a great day. Thank you, Susie.
39:29
I got to tell you guys, she's probably one of the nicest
39:31
people you would ever meet in your life.
39:33
And maybe someday we'll have a Ron's basement convention.
39:37
I'm not planning anything right now, but I was thinking maybe I
39:39
would rent that. Saint Louis has all these
39:41
Catholic churches and they all have big basements underneath
39:44
them where you can rent for wedding receptions.
39:46
I thought it'd be fun for us. You have over 200 mics.
39:50
OK. Thank you, Susie.
39:52
To have a convention or not a convention to get together or
39:55
whatever in the basement of a church, right.
39:58
Or a basement of whatever. Where was I?
40:01
Oh my gosh. Oh.
40:03
OK. I got to ring the Cowbell Bell
40:05
warning and we know, OK, if you're at work, if you happen to
40:09
work at Goldman Sachs or or JP Morgan Chase, it's time for you
40:14
to turn your speakers down, 'cause I'm going to ring the
40:15
bell. All right, this is.
40:27
Why? You want to know why?
40:30
Hold on. This is why add the stage all
40:35
right. And here we go.
40:39
This comes from this site called Volvo.
40:42
And then they stole my name, Ron Oy.
40:44
But this is federal debt held by the public, expected to rise.
40:49
Federal debt held by the public. All right, here we are.
40:51
Right now, and I thought this number was higher, but
40:54
nonetheless this shows right now 2024 debt as a percentage of GDP
41:02
is almost okay, almost the same as it was at the end of World
41:07
War 2. So we're right now at a debt
41:10
level that we've never been at since we were just completed
41:14
what was the biggest war in the history of the world.
41:16
But what's scary guys this Right now, the Fed can't raise rates.
41:21
We talked about it right? The banks.
41:23
It's going to be. Interesting to see what happens.
41:25
Remember we've only been in an environment with interest rates
41:28
this high for like a couple months out of the last 20 years
41:33
and we're going if we're going higher and higher with this 10
41:36
year bond yield. Of the stress that this is
41:39
putting on the banks, I mean we had three of the four largest
41:42
banks go belly up and I think rates probably weren't even as
41:45
high as they are right now. And we have this commercial real
41:48
estate wave of refinancings that need to come.
41:51
Through where the collateral which the loans were based on is
41:55
worth 6070. 50. Cents on the dollar.
41:58
None the less. I digress.
42:00
See my arrow? I believe you can see my arrow.
42:03
That's right. Now this is what's projected and
42:07
this is according to our government, this is like.
42:09
Best I I think it more goes up like this right?
42:13
But this is just projected by 20. 54 that will be at like
42:17
what? Well, here we can go down.
42:18
Let's look, this is to give us some historical perspective that
42:22
as a percentage of GDP after World war 285% in the 50s, 57,
42:28
sixties 30. We got all the way down to 23
42:30
percent 1974 Why did we have to go off the gold standard anyway?
42:35
I digress. In the 80s, Thirty nineties,
42:38
50%. In the early 2000 we were back
42:40
to 35%. 2014, 72,024 we're at 100 and then it's projected to
42:48
go to all the way to 165. The amount of debt cannot allow
42:53
for, cannot accommodate for, can't handle, can't absorb
42:58
interest rates going any higher than they are right now.
43:01
We are in, we are really are in a doom loop.
43:04
I'm sorry. I have to say it.
43:06
I don't want to be, you know, scare you or or be like, oh, the
43:10
sky is falling. The sky is falling.
43:11
What's that guy's name? Johnny John.
43:14
What's I forget somebody anyway? It's it's it's not a a good
43:20
situation. Thank you PWS for super chat.
43:26
Mind that from Taiwan. Oh, from Taiwan.
43:30
That's awesome. Wow, that's awesome.
43:33
I had a friend named David Lu from Taiwan.
43:36
He was born in Taiwan. People from Taiwan are very
43:38
nice. They can't raise rates.
43:42
OK, what is CNN? Let's talk about gold, silver.
43:46
All right, let's talk about a very interesting little piece.
43:50
Mainstream media. OK, Where'd it go?
43:54
Here it is. Oh, shoot.
43:56
Hold on, guys. Let's bring this one up and
44:00
boom. Uh, oh, there we go.
44:03
We're going to get rid of that. Everybody gives us pop up ads
44:07
now, huh? OK, How do I get that?
44:10
Boy, oh, boy. All right, here we go.
44:11
Why? Gold prices are at record highs.
44:14
It's all a bunch. OK, two, there's two big things
44:17
we want to learn from this. Number one, mainstream media is
44:20
catching on. OK.
44:21
They talk about Costco in here. They talk about all the debt.
44:25
They talk about blah, blah. OK, we already know all that.
44:28
So we're not going to bore you at that.
44:29
The interesting part of this article is toward the bottom,
44:34
toward the end, there's Costco. People's Bake at China bought
44:38
all this gold. Have you heard that?
44:39
Yes, you've heard that. A sign of the times?
44:43
Keep going down. OK, hold on.
44:49
OK, OK, here. This is the interesting part.
44:54
So why is gold surging right now?
44:56
Some investors are buying into the hype around gold bullion.
44:59
See, it's just a bunch of hype. That's what the mainstream media
45:02
wants you to think as prices rise, pushing them further up on
45:05
Reddit, right? Proud gold buyers often post
45:09
threads about their stashes. By the way, they also do this
45:12
with silver on Wall Street, Silver and the Silver Desian
45:17
Club. OK, then they talk about Costco
45:20
began selling bars online in August.
45:21
We covered this yesterday. The company may now be selling
45:25
this. This just floored me.
45:26
OK, as much as 200 million in gold and silver each month.
45:32
And again, my personal opinion is that if you're going to buy
45:36
gold and silver, buy it from a specialist, OK, Buy it from
45:40
somebody who, that's all they do.
45:43
Might I recommend, if you're going to do that and buy it
45:45
online, that you take a look at Pembex, put them into the mix
45:49
because they do an outstanding job of getting you the best
45:52
price and the best packaging, OK, OK, Then it goes down here.
45:57
This is where it's interesting. The accelerating frequency of
46:00
Reddit post, quick online sellouts of product, and the
46:05
company's robust monthly E com sales suggest a sharp uptick in
46:08
momentum since the launch. People are waking up.
46:13
Guys. Look silver if you know I I'm
46:18
I'm cool. And I keep mine off site stored
46:20
securely. I'm cool with how much silver I
46:23
have, I'm telling you. Could we see a silver shortage?
46:27
Absolutely I am. I I can't predict the future.
46:31
Nobody can with 100% certainty. But I am so certain that I'm
46:35
going to be sitting down here saying I didn't say, I'm not
46:37
going to say I told you so, but I told you that we could quickly
46:41
and I mean snap of a finger hours, days there.
46:45
We could be back in the situation where there is no
46:48
silver available for the. Retail investor, I'm not trying
46:52
to scare you, I'm just saying that with.
46:54
With the supply demand, big picture that we have in the
46:57
market, coupled with the fact that now with instant
47:01
communication, things like Reddit that they're talking
47:04
about there. And even more importantly the
47:08
the fact that you people can buy, you don't have to go to the
47:11
local coin shop and wait in a big line to buy silver.
47:15
You can hop online and buy 10s of thousands of dollars.
47:20
And that happened. That's happened several times,
47:22
right? That happened a year ago right
47:25
now during the banking little banking crisis.
47:28
It happened during COVID. I mean, guys, it can happen.
47:31
It happened during the Silver Squeeze back in 2021.
47:34
It's happened three times. And we're in a more precarious
47:37
Think about it. We're in a more.
47:38
Precarious situation right now, OK?
47:42
Lindahl said that trend followers and others jump on the
47:45
rise in prices as the background begins to point to substantially
47:50
higher prices over the long term.
47:52
It's also worth noting that gold is a traditional asset to hold
47:56
during political uncertainty. Thank you, CNN The Children's
48:00
News Network. Voters in More Than. 60
48:03
countries are said to head to the head to the polls this year.
48:06
That's interesting. Yeah, I hear that brought up
48:08
right, But we've got major elections going on, including.
48:12
No way. Did you guys know that there's
48:14
AUS presidential? Election.
48:16
That's why I, I, I read CNN. There's AUS presidential
48:23
election. What?
48:25
Oh my gosh, I better buy more silver and gold.
48:27
That uptick in geopolitical and economic unpredictability
48:32
underscores the precious metals stable value.
48:35
Well, there we go, our daily dose of the Children's News
48:39
Network. There's a piece out that I need
48:44
to read more about, but apparently TD Securities talked
48:47
about the potential for a silver short.
48:50
Squeeze what? They must be watching Ron's
48:54
basement. We knew JP Morgan was joining
48:58
us. We knew the Goldman Sachs was
48:59
joining us. But TD Securities talking about
49:02
a silver short squeeze? Let's talk about that for a
49:05
second. OK, do you think?
49:07
There's a potential for a silver short squeeze, right?
49:12
It's kind of a a word that has a stigma with it.
49:15
Now like oh, don't talk about short squeeze, Don't talk about
49:18
silver short squeeze. Well, hey guys, if any metal, if
49:22
any investable asset out there, right, has potential for a short
49:28
squeeze, I would think it would be silver.
49:31
We just talked about how people can jump online and and read the
49:35
retail investment community can wipe out the available inventory
49:39
hours, days, right. OK.
49:42
But on top of that, don't forget there is so much manipulation of
49:46
the silver price on the Comex, on the LBMA, it's absolutely
49:51
crazy. So the potential, right, that
49:54
these guys that have all these contract derivatives on the
49:57
silver price could also help accelerate a short squeeze it
50:02
it's it's, it's a real possibility.
50:05
I'm not saying, I'm not predicting it for this week,
50:08
this month, this year, but but it's a real possibility,
50:13
especially with silver. I mean, the whole silver market
50:16
is like what, $1.6 trillion? All the silver in the world
50:21
right now, I think all the gold in the world is like 10 times
50:25
more. We saw what happened with gold
50:27
and we know that on top of that, 60% of the silver is absorbed by
50:31
industry. So that's that story.
50:34
Let's move on. One more quick story, but a big
50:38
story and one that we are not real happy about.
50:42
This comes from our friend JP Cortez and J PS been on the
50:47
channel before. Idaho governor, this is crazy.
50:50
Opposes gold and silver. Vetoes a bill to enable
50:54
protective holdings Idaho Governor Brad Little and I'd say
50:59
he is Little today, vetoed legislation that would have
51:03
enabled the Idaho State Treasurer to protect state
51:07
reserve funds with an allocation to physical gold and silver,
51:10
sending a potentially alarming message to the state's mining
51:15
industry and investors. This story is astounding on 2
51:19
levels. OK, #1.
51:22
All they wanted to do was to help allow the state treasurer
51:27
to protect some of the state's wealth by putting some of the
51:30
money into silver and gold. OK guys, that's real.
51:35
We were talking with Pat Holland and and Daniel Diaz yesterday.
51:38
Like these states, they have like their pension funds.
51:41
What are their pension funds invested in?
51:43
Bonds. What if bonds done?
51:45
Ask a bank. Ask anybody.
51:47
Bonds have gone down, down, down in value.
51:49
These pension funds are in a position where they could be
51:53
like paying out more money every year and the actual principal
51:59
balance of what they owe is going down.
52:01
This would have just allowed the state to put some of their
52:05
assets into silver and gold. OK, but what's even more
52:10
astounding that this occurred? Yeah, it says right here.
52:14
SB would have permitted the treasurer to hold 7.5% in state
52:20
funds and physical gold and silver.
52:22
So as long as the assets are maintained securely in a
52:25
depository specifically built for precious metals located
52:29
within Idaho or a contiguous state, or in an Idaho Chartered
52:33
Bank or Credit Union, all they wanted to do right was put up to
52:38
7.5. Percent of the state's.
52:40
Assets treasury into silver and gold, but what's crazy about
52:45
this is, is that Idaho is a big, major mining state here, Senator
52:52
Hart said. Idaho's known as the Gem State
52:55
and was first settled by miners. Historically, a reliance on gold
52:59
and silver is part of our state's DNA.
53:02
OK, that's what he said after governor. 300 likes?
53:06
All right, guys, I'm going to ring the gong, but this is
53:08
crazy. This is absolutely crazy.
53:11
But the good news is this, right, the momentum continues.
53:15
We had Wisconsin. They got rid of sales tax on
53:19
silver and gold. We've got Tennessee that's
53:21
fighting for some legislation. We have Missouri.
53:23
Look. The important thing to remember
53:26
here is that, sure, we're not going to win every fight when it
53:30
comes to silver and gold legal tender legislation.
53:33
We're just not. But we are winning fights.
53:36
Think about this. I got news for you.
53:38
We're not having anti legal tender legislation being passed
53:45
state by state right. What we're having is new good
53:49
legislation being passed. It's not winning every time, but
53:53
it is winning. It's chipping away state by
53:56
state to give you right your ability to reclaim your right to
54:01
use silver and gold as legal tender.
54:04
I gotta ring the gong. Who doesn't love the gong?
54:06
The golden Gong. I'll be right back.
54:09
Let me grab it. Before I do that, let me remind
54:16
you guys you can go to. Ronsbasement.com There's a 24
54:20
hour forum there. There's a giveaway going on.
54:23
Our friend Big G from CT from Connecticut is running a
54:28
giveaway that you can start guessing the OR or predicting
54:33
the price of silver on July 3rd. But you don't want to start that
54:36
until a week from. I'm not sorry.
54:38
Not a week till Monday. Yeah, on tax day.
54:42
OK. All right, here we go.
54:46
Don't forget to smile, Basement dwellers.
54:52
Let's go check the gold and silver price.
54:55
I know that. My, my blood pressure is going
54:58
up. And let's see where we are.
55:03
Are we red? Oh my gosh.
55:06
Hey, good job basement dwellers. Over the last hour, we made the
55:09
price of gold go up almost $10 per oz and silver by almost five
55:15
whole cents. Where is.
55:16
Silver, hold on. Let's go back 27.
55:19
It is fighting for $28.00. Come on Silver, you can do it.
55:23
Hey guys, thank you for being here.
55:25
Thanks for being part of the basement.
55:26
This is an awesome community of people, but it's not possible
55:30
without you, OK? It is a big honor.
55:33
When you come down here, you're a good person.
55:35
So many wonderful, nice people that I've met and that have met
55:39
each other. A lot of you have made great
55:41
friendships through the community through the chats.
55:45
And I'm going to tell you you're going to find some really,
55:48
really great people, really smart people.
55:51
It's a big deal to me when you come here.
55:53
Thank you on behalf of myself. Susie Oh, I almost forgot.
55:58
Let's type 8. Oh, I almost forgot.
56:00
Double forgot. I need to thank my sponsor,
56:03
First Mining Gold. You can learn more about them at
56:05
firstmininggold.com. They're a gold developer based
56:08
in Canada, but they have two multi million ounce development
56:11
stage projects in Canada. And of course our friends at
56:15
Fortuna Silver Fortuna silver.com.
56:18
But they're actually more of a gold mining company now,
56:20
although they do have two big silver mines that are still in
56:24
operation. They've got major operations in
56:27
West Africa, gold centered. And then they have a Latin
56:30
American operations with one big gold mine in Argentina, silver
56:35
mine in Peru and a silver mine in Mexico.
56:37
Thank you. Thank you.
56:38
But let's all type. 8888. For those that moderate, OK,
56:43
'cause the moderators make this possible.
56:45
Thanks for being here. OK, guys, have a great day.
56:48
I'll see you soon.