Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / Silver Frenzy Unleashed: The Inside Story Behind Shortages and Price Surges!

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Silver Frenzy Unleashed: The Inside Story Behind Shortages and Price Surges! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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Silver rush and what will it look like?
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I've got some fascinating information we're going to talk
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about today as to what potentially a rush in the silver
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market could look like sometime in the next 12 to 24 months.
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But I'd like to introduce you to our special Co host.
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Today we have Adam Van from Alpine Gold Exchange joining us
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in the basement. He's going to be helping me out
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in giving his unique insights into what is going on in the
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precious metals market right now because we all know there's a
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lot going on. Adam, welcome to Ron's Basement.
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Thank you so much, Ron. I really appreciate you having
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me on. It's always so much fun.
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I've I've got my Ron's Basement Hat here that people can pick up
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and get their own their own Ron's Basement Hat.
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And you'll be surprised how many people recognize this hat and
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his name when I'm just walking around.
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They they point at it and then they know exactly what's going
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on. So thank you for having me.
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It's a lot of fun this morning. Yeah, everybody.
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Everybody knows the the good old blindfolded bear.
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You know, things are getting crazy right now in the precious
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metals markets. We know going into 2024, we have
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a confluence of really some scary factors going on
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domestically in the United States, but also on a world
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worldwide basis. I want to dig into the silver
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market in particular right now because when I think about what
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we could be facing here in the coming months, I could see a
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rush on the silver market similar to what we saw about a
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year ago. And I think it's something we
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all need to talk about because things are different now.
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We know, Adam, that a lot of our cohorts that are in the silver
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and gold community, we want to protect ourselves.
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We want to protect our wealth. Would you agree with that?
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Absolutely. And gold and silver is
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definitely the way to do that. Any any kind of physical asset
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is a way to protect your wealth and and hedge against inflation.
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It just happens to be gold and gold and silver is is my bag.
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So that's that's what I like is the the gold market.
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I use gold to preserve wealth and then I use silver for
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spending is how I manage it. So that's I'm right in line with
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you on that. I think the the gold market and
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the silver market are definitely headed up based on the the index
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reports that came out. I think they came out last week
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or maybe early in the week this week and they're not going to be
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lowering interest rates. So we're going to get more
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inflation. We're going to get more more
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gold buyers in the market, more silver buyers in the market.
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So more it's going to go across the board, all all assets are
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going to go up because inflation is going to be happening and
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when you have more dollars chasing fewer products, you're
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going to have inflation. Yeah, yeah.
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And you know we, we hear this, we hear this, this common theme
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that oh, the Fed has to lower rates for gold and silver to go
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up, the Fed has to lower rates. I'll argue against that.
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If we if the Fed leaves rates where they are right now and I'm
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not saying that I think that will be the case but if they did
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leave rates where they are but inflation skyrockets again, well
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that's the same at six or one half dozen the other that's the
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same thing as inflation going down and rates going down.
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So we don't necessarily absolutely need rates to be
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lowered. It really comes down to that
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relationship between the inflation rate and what the,
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what the, what the real interest rates are real interest rates
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right. And if inflation exceeds the the
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the the the prevailing interest rate, we have negative real
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interest rates which creates an unbelievable environment which
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is conducive to much, much higher precious metals prices.
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Yeah, that's right. And you know we also have a
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goods market that we have to watch to Remember last year we
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were having supply supply chain problems.
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So then we wound up not having as many goods in the Americas
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and and we had the government printing even more money and
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handing out more loans and more, more bailouts or stimulus they
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call it. And then we had fewer products
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And so you know we saw eggs skyrocket in in price and and
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all those things. So it's it's not solely interest
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rates. Interest rates touch everything,
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you know they touch how businesses expand, it touches
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assets and how they're purchased.
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So interest, interest rates are a big thing to watch, a big
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indicator, but we also have the goods markets that we have to
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watch as well. They, I, I want to say basement
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dwellers, we need to tell Adam, thank you for that because I
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have not talked about that on the channel for probably a year.
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I just forgot about that whole fact, right.
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We've we've focused so much on the Fed, the Fed and the Fed can
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control inflation. the Fed can, there's this other massive
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component to inflation and that's called supply side.
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And I completely forgot, right? If the supply of goods, the Fed
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can control interest rates but the Fed can't control how much
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oil Saudi Arabia is willing to sell the United States. the Fed
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can't control the the supply chain problems.
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And and we're living in an increasingly contentious world
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from a geopolitical perspective, right?
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Countries are, are, are are nationalizing more and more and
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cooperating less and less. the Fed can't control what the BRICS
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nations do, for instance, right? And if they decide, hey, you
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know what, we're not going to, you know, if China.
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And I don't think this isn't the case.
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But just as an extreme example of China decides, hey, we're not
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going to sell toasters to the United States.
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I would imagine that 90% of the toasters we buy are made in
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China. The price of toasters would
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skyrocket and the Fed could lower or raise rates all they
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want, but they can't do anything about it.
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So that's an excellent .1 that we haven't talked about here in
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the basement. Adam, you've already proved
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yourself to us this morning. Good morning.
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Thank you, Sir. Well, there you go.
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That's my two cents. So it was worth the price of
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admission, I suppose. Well, well.
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Well, it's been nice having you. We'll see you later, Adam.
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Take care. That's what I like to do.
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Drop bombs and run. So we're Yeah.
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Drop the bomb and then let us here to talk Let's, let's.
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I'm going to zoom in on on Silver here for a second, OK?
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Because because I think that that we were entering a
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situation where we could see, we all remember the silver squeeze
6:23
back a few years ago, but we're entering a time where we could
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see just unbelievable potentially, right.
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No crystal ball, no financial advice here, but potentially
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massive moves in the silver market.
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A couple things to remember. The float on silver is very low
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guys. We are talking about a small
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small market. A lot of other Youtubers are
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pulling up this chart lately that shows that the that that
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the Bitcoin overtook silver in terms of market cap and it says
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this market cap for silver. Look, the reality is we get
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about a billion ounces of silver supplied every year to the
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market. A billion times 25 is 25
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billion. That's the size of the amount of
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silver that's produced every year.
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We know most of it's being now consumed by by industry.
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We know that the price of silver right now is basically right at
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or below the cost of production, OK.
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And I want to say this when it comes to silver and then we're
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going to talk into what we're going to talk about what this
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next silver rush could be like. But when we consider OK that,
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that, that, that if you look at a long term chart of the silver
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price, I think $30 in my mind is really the all time high once
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silver gets above $30 and we have all these new people
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flooding into the silver market, FOMO, fear of missing out.
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I don't know anyone and I'll ask you this Adam, I don't know
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anyone and This is why I like to call $30.00.
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The, the, the, the, the, the realistic all time high in
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silver. I don't know anybody out there
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who's holding a bunch of silver that they bought for $40.00 an
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ounce or $50.00 an ounce. I mean I think most people now
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that own silver have bought it somewhere in the 15 to $25
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range. I don't know.
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What do you think about that? Well, we see a lot of people
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holding, holding silver. I mean that that's kind of what
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we do with the services we provide.
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So just yesterday we were speaking to some members who had
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bought some Silver Eagles quite a bit at $47 right at the very
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peak of the market last year and we were helping them strategize
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on what to do with it. And so, so yeah, we we do see
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people from all ranges. The the majority of people that
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I know personally that are storing and holding silver, they
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bought it between between 18 and 21 dollars around you know for
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for for what they were purchasing.
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I don't know if they were coins or rounds, but that's the the
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number that always gets thrown around.
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And the folks now, I think the new people coming into the
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market are purchasing for transactions and they're they're
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buying and transacting with it. So that maybe is keeping that
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price a little bit higher for the transaction market because
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it's they're buying it a little higher and they're trading it a
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little higher. Interesting, interesting and and
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and as I'm talking to people out there in the industry, I'm
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hearing that we're still seeing a decent flow of new people
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coming in. We hear about this, all this
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fanfare surrounding Costco selling silver and and and and,
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but when I talk to people in the industry, they're telling me
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they're still seeing new people coming into the silver and gold
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markets. Would that be your, your your
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your perception of what's going on as well?
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Yes, absolutely. We're getting people in every
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day. We had I think 7 or 8 folks that
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came in on Tuesday that had never bought gold or silver at
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all. And they they see the frenzy in
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the market and they're interested in it.
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So they come and talk to us and ask us a lot of questions and
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and you know they always buy a little something, you know just
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to kind of dip their toe in. And there's a lot of people,
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there's a lot of young people. We had a guy drive over 3 hours
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just to come to our office and and and have a chat with us.
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On top of that we take you know 30 to 40 phone calls a day from
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people that are opening up new accounts or they're or they're
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purchasing on the website and and they they just have
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questions about the the Silver Eagles and things like that that
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we have. And I I'm seeing a a big influx
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of people We're as a matter of fact two people came by our
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store yesterday from a brand new mint that opened in New
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Hampshire and you know and and so young people are not just
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getting into silver they're they're minting it now too.
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So things are. That was, that was my, that was
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my next question for you. Are you seeing younger people?
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Are you noticing anything with younger people moving into the
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the silver and gold area? Yeah, yeah.
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This week, this week I think we had more young people under
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under the age of 30 is what I would call a young person.
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And we've had more young people come into the store buying
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silver and and opening accounts and and those two gentlemen that
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came by yesterday, they started their own mint, you know and of
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course you know they were trying to sell us product and and we
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had a good conversation about that.
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We'll see how that develops. But yeah, so not just buyers but
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also people getting into the market in order to to mint and
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make and shape silvers and and things like that.
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And working with the precious metals Jewelers, I, I you know
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the Jewelers that I know are all under 30 now.
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So across the market with precious metals in utility and
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in in currency type transactions, I'm seeing younger
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people getting into it. That's great.
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That is awesome. Now I'm going to ask you a tough
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question, Adam. I'm going to put you on the
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spot. I promised I wouldn't do that.
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But you know these basement dwellers, they want to know.
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And we've got 400 joining us right now, which is awesome.
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Here's my question. We know we've got more young
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people coming into the silver and gold market.
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We know that overall you're telling us more people are
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coming in. How many people are leaving?
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That would be my question. I would suspect that on net,
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right? Of course everyone people are
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going to pass away. People are going to maybe give
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up, right? I know a lot of people 5-6 weeks
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ago were so frustrated with silver, which is always a good
12:38
sign that it's a great time to buy.
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But are you seeing more of a gain than you are lost when it
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comes to people moving into the metals?
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Yeah, we're seeing quite an uptick.
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Very few people leaving, very few people leaving.
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Like you said, some people are getting, their estates are being
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left to them. So here in New Hampshire, we
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estimate that there's about $27 million worth of precious metals
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that are sitting inside of states.
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And as as these families are transitioning to to, to
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different parts of their life, these these metals are being
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passed down to their younger generation who are now, you
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know, faced with with managing these metals.
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We had, we had a customer come in this week that had a cigar
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box and it was full of, you know, gold coins and silver
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coins. And she had, you know they were
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cleaning out her her father's residence where he he had passed
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away over a year ago and they and they found these.
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And so she asked me a bunch of questions about it, and she
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asked me what, what she should do with them, you know, and and
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yes, Sir. I want to interject.
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Imagine, OK, that person found a cigar box full of silver and
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gold coins, right? I would call that a treasure
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chest personally, Adam, but you can call it whatever you like.
13:53
Imagine if instead of putting silver and gold coins in that
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cigar box, that older gentleman who unfortunately has now passed
14:02
away, had instead put Fiat paper money in that box, right?
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What's the dent you know, 30 years ago, 40 years ago?
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Which one do you think Adam was worth more money when they
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brought it into you at the at the shop?
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Well, I can tell you precisely that two years ago it was the
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gold had increased in last two years by 22% and the value of
14:27
the paper dollar has gone down 13%, you know, so it's not hard
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to figure out that spread and that's exactly what what she had
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brought. You know she had a whole family
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involved with this. So.
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So she was just gathering information for the family and
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what to do with it. And so she quickly realized that
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maybe maybe they need to just pretend that this gold and
14:46
silver doesn't exist and just keep that as a vow, as a store
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of wealth. And and it wasn't a small
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amount. You know, it wasn't a small
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amount. It was a cigar box full of
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precious metals. So he did really well.
15:00
There were some 19 O threes and there's some pre 191938 liberty
15:05
heads that are are pretty popular.
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And so that's happening in the gold and silver market is we
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have these older generations that have built up tremendous
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wealth. You know, some of them
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tremendous wealth. You know they they own
15:17
properties, they own homes, they own bank accounts, they own Iras
15:22
and and they also own gold and silver and and other precious
15:25
metals. And they're passing them along
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to their families and the families are considering, you
15:31
know, just adding that to the to the family wealth and they're
15:35
holding on to it. So there's there's not that many
15:39
people coming into my shop and to my into my office here and
15:43
selling out. You know, we're happy to help
15:45
people in any, any stage of their life.
15:48
And you know, we offer Iras and all these other management tools
15:51
for precious metals. And so you know, we we, we do
15:55
definitely try to encourage them to put their metals to work for
15:58
them. But if if they're holding on to
16:01
them and they're using them and it's adding wealth, then you
16:04
know we're all for that, yeah. I can't imagine coming in to see
16:07
you with a cigar box full of silver and gold saying, hey, I'd
16:11
really like to trade the silver and gold for some paper money.
16:14
You know, it just doesn't compute.
16:16
But we have to realize that that the majority of our cohorts here
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in the United States, although we're being joined right now by
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450 people, Adam, you're knocking it out of the park.
16:28
They love you from all over the world.
16:31
But most of our cohorts here in the United States, most people
16:34
are still clueless about silver and gold, right?
16:37
You know, you you see these videos when people are on the
16:40
streets of New York or California saying would you
16:44
rather have a Hershey's candy bar or a 10 oz silver bar?
16:47
And unfortunately, a lot of people take the candy bar.
16:50
So it's crazy. I want to get into some other
16:54
insider feedback that I received recently about what's going on
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in the market. And then we're going to take
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people on a little, a little journey into what things could
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could look like if we have another, another silver rush,
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another silver squeeze, another silver shortage, no silver
17:12
available. But I did talk to our friend
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Mike over at Pinbex. Hold on, I want to pull up here
17:17
real quickly. Pinbex right here.
17:21
Pi, MB EX, they sponsor Ron's basement.
17:24
They make this possible. Online bullion dealer.
17:27
Silver, gold, platinum. Throw them into the mix next
17:30
time you're looking for precious metals, I think you'll find, but
17:35
you need to find for yourself that you'll get the best price,
17:38
best service, best selection. So I talked with Mike over at
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Pinbex and here's a here's a quote.
17:44
I asked him, what's going on, What are you seeing going on
17:46
right now in the market? You know, Mike and Brian own the
17:50
company. They're heavily involved.
17:52
They've got a good feel on the pulse of the precious metals
17:56
market. I'm going to read you his quote.
17:58
He said March is picking up steam and things are getting
18:01
busy. And he did capitalize.
18:03
Busy. We have products in stock and
18:07
ready to ship, but outside availability is dwindling
18:11
industry wide, wholesale shelves are getting cleaned out and
18:16
replacement costs are shooting up.
18:19
That means, guys, the potential is, I read it for higher
18:22
premiums in the future. Silver Eagles are exceedingly
18:28
popular. He says.
18:30
If you're in the market, now is not the time to be on the fence.
18:35
I found that very, very interesting.
18:37
Thank you for my friend Mike over at Pimbex Pi MB E
18:41
xpimbex.com. I also talked to coin shop Chris
18:45
last night and he said that he's seeing a pick up as well.
18:49
But he specifically talked about what he sees as a surge in
18:53
demand in constitutional silver. So guys and and I just kind of
18:58
get that feeling as well I could you know, look look, I'm in my
19:01
basement here, so I'm not a a bullion retailer, but I get the
19:05
feeling that we're starting to see a bit of a surge in demand.
19:10
Adam, any comments you want to add on that you're back on
19:13
screen? That's fantastic.
19:16
I was muted. There I was in the comment
19:18
section, so. Oh, cool.
19:21
Yeah. So, yeah, talking about demand,
19:24
is that what your question was? Yeah.
19:26
So the demand is definitely is definitely going up.
19:29
There's a lot of different options for gold and silver
19:32
purchasing. Silver Eagles are always
19:34
popular. Those are, you know, those are
19:36
the premium product. They've got a specific
19:38
thickness, a specific size, a specific weight and a specific
19:42
mixture in them that makes them, you know very identifiable with
19:47
any type of with any type of instrument as far as
19:51
verification. So the the Silver Eagles and the
19:55
Gold Eagles are definitely the, the top notch premium product.
19:58
But there's so many different options for for silver and the
20:01
demand of silver goes up and it seems like that the market
20:05
response. So you mentioned earlier Costco
20:08
was selling gold and Costco and I I think I I forget who the
20:13
other one was, Amazon I think was selling PAMP bars and things
20:16
like that. So anytime, anytime there's an
20:19
uptick in the market that the market response with you know
20:22
plenty of other options too. So it's exciting on both sides.
20:26
It's exciting because the price is going up.
20:28
So the people that are buying the the gold and silver, they
20:32
are enjoying that price increase after they purchase it and
20:36
that's really fun. And then there's also a lot of
20:39
excitement on the supply side where you see a lot of of
20:43
retailers and everybody picking these these metals up and
20:47
trading them. So it's it's really exciting on
20:50
both sides. But it but it's not a huge
20:52
market. I mean gold is is obviously
20:54
bigger than silver. When you look when you talk
20:56
about silver in particular it it's not a huge, huge market
21:02
where it can absorb a massive influx in demand.
21:06
It seems like, you know, silver in particular, you know, we get
21:10
what we saw what happened a year ago during the during the
21:14
banking crisis, right. I mean there was a surge in
21:17
demand for silver and suddenly if you wanted to buy silver, you
21:20
were going to wait six weeks. I mean, even at my local coin
21:23
shop, it was, you know, this, sure, you know, give us your
21:26
money and we'll get the silver for you.
21:28
But it's going to be five or six weeks.
21:30
And I know the online bullion dealers were hit with it as
21:33
well. So will that happen again?
21:36
I think it will. I think it's inevitable at some
21:38
point. I don't have a crystal ball,
21:39
don't make any financial decisions based on what I'm
21:42
saying. But I want to run through what I
21:44
think are some fascinating thoughts about what the next
21:47
silver squeeze could look like and and and and talk about a
21:52
couple factors that I don't hear anybody else talking about that
21:54
I think could make it even more exaggerated as we're seeing this
21:59
confluence of factors which are going to be very supportive to
22:03
the precious, the the precious metals.
22:06
I was listening to a couple people that are that have been
22:10
around for a long, long time. I was talking about the 1970s
22:14
and the 1970s. Silver took off, went up 20, I
22:17
don't know 25 times in value between 1970 and 1980.
22:22
OK. And what these people that were
22:24
around back then said, there were lines out the door at the
22:29
coin shops, literally lines down the block of people lined up
22:34
either wanting to sell their silver or buy silver, OK.
22:38
They had to turn people away. OK.
22:41
And that was the 70s, OK? That was the 70s.
22:45
Think about it. Back then, we didn't have social
22:48
media OK to spread the word. And we didn't have the Internet
22:52
where people can now buy precious metals instantaneously,
22:57
where things can happen much, much more quicker like that.
23:00
If this were to take off again, things could change very, very
23:05
quickly and in the almost like the snap of a finger, which is I
23:11
think almost what happened again like a year ago during the
23:14
banking crisis. Because if you think about what
23:16
happened during that banking situation a year ago, social
23:20
media spread the word right and and people got scared that they
23:24
were going to lose their money that were in several of these
23:27
banks that were that weren't financially solvent any longer.
23:32
So the word spread quickly and technology allowed people,
23:37
right? Everybody has a banking app on
23:39
their phone now. You know, I could drain my bank
23:42
account here in the next 5 minutes.
23:44
People were able to, they didn't have to go line up at the bank
23:48
like you saw during the Depression to try to get their
23:50
money. They were able to to drain their
23:52
money. And what I'm saying is when it
23:54
comes to the next silver rush, right, the next explosion in the
23:59
silver, if it happens, I think it will.
24:01
But I don't have a crystal ball and I'm not, you know, able to
24:04
tell you oh it's going to happen in four months, six months, 12
24:06
months. But it sure feels like to me
24:09
that it's likely that we could see some crisis maybe Black Swan
24:14
event, maybe just the the the, the result of of of all the
24:18
national debt, who knows. But something could happen that
24:21
could create a huge surge in silver and with social media.
24:27
And we saw that during the last Silver Squeeze with the Reddit
24:30
community, Wall Street silver, but with all the social media,
24:33
the instant exchange of information.
24:37
And if you couple with that, the fact that now people can buy
24:41
bullion online, right? They can go to Pinbex, right?
24:45
They can go to Miles Franklin, they can go to other, you know,
24:48
there's a whole a whole slurry of online bullion dealers and
24:53
they can drain the available inventory almost
24:56
instantaneously. They don't have to rely on, you
25:00
know, going to work or being out in their backyard talking to
25:03
their neighbors. Hey, did you hear about?
25:05
So no, now it all happens instantaneously on social media.
25:09
And then they don't have to get in there, in there a woody wagon
25:13
and drive 8 miles to the to the local coin shop and wait in line
25:18
for three hours to get silver. No, they can.
25:21
They can read about it on social media and within two minutes
25:24
they can buy silver. Now look, I'm not again right?
25:28
But to me, this just feels like a situation that we possibly
25:33
could see sometime in the future.
25:35
Adam, am I crazy? Ron, you're deaf.
25:40
No, I had it on mute. I didn't want to.
25:42
I had coughed a little. So pardon me.
25:43
Yeah. No, to answer your question,
25:45
you're crazy. Ron, Everybody here, you're not
25:49
fooling anybody. OK.
25:50
So but that has nothing to do with the news that you?
25:53
Reported you're out of here. Thanks for being here,
25:56
everybody. Yeah, go ahead.
25:58
Yeah. But no, you're absolutely right.
26:00
So we. Do, by the way, let me interact.
26:03
Let me, Let me interject one more thing.
26:04
You just scored major points with Susie.
26:07
I could hear her laughing upstairs.
26:09
So thank you. I'm done.
26:11
Good deal. But like, like I said, I like to
26:14
drop the bombs and then leave. So you can, you can go smooth
26:18
that over with Susie later. Oh, you're right.
26:21
We've got a lot of big, big suppliers in the market that can
26:24
absolutely buy up the available inventory.
26:28
But there's also a lot of a lot more producers coming into the
26:31
market as well that are also supplying these things.
26:34
So back to what you know our predictions for the future,
26:40
we're all making the guesses right.
26:41
We're all we're all trying to figure out what the next hedge
26:43
is and you know traditionally gold and silver go up overtime.
26:48
So I don't think there's a a bad time to buy gold and silver
26:51
necessarily because even though the the price of the dollar did,
26:56
if it does do a little better against silver, you still have
27:00
the silver, you still have that physical silver, that physical
27:02
gold that you're holding in your possession and that doesn't
27:04
change. And and traditionally the the
27:08
gold and silver markets go up in the second quarter.
27:11
So you know and there's a lot more ruckus in the market and
27:14
things go up. So I I definitely see a bright
27:19
future for the precious metals and for all the suppliers too.
27:22
So yeah, there's some big cats in there that can drain the
27:25
drain the the, the, the pond and but there's also a lot more
27:30
supply coming from the manufacturing side as well.
27:33
And these are all good things, these are all good things for
27:35
the market. So it it'll ebb and flow but
27:39
over time you'll see that little ticker you know going from left
27:42
to right and it'll just be getting taller and taller and
27:44
that's that's what I'm banking on.
27:46
So I'm looking at the 15 to 20 year plan with precious metals
27:49
and so far it's been doing pretty well and I'm pretty happy
27:53
with it. Yeah.
27:53
Hey, I want to say thank you to everyone who's joining us today.
27:57
Adam, we have almost 600 basement dwellers.
27:59
So thank you. It's not Adam tube, it's not Ron
28:03
tube. It's YouTube.
28:04
It wouldn't be possible without you.
28:06
Thank you for being here. Please give this a thumbs up.
28:09
And remember, subscribing is free.
28:11
Adam, I'm going to pull up a crazy.
28:14
This is crazy. I know we're talking crazy
28:16
mania. But, but really this is a
28:20
picture from China of of of the day after the Lunar New Year.
28:26
The reports that I've read and I've heard other people report
28:29
this as well, This was one shopping mall in China, 800,000
28:34
people lined up to buy gold at one shopping mall in China.
28:40
I think on a world you know we we tend to focus on on the
28:43
United States and the West but this this, this demand for
28:48
precious metals is really a worldwide thing And and I think
28:53
we need to to keep that in context as we as we think about
28:56
what's going on right now in the in the precious metals markets.
29:00
I mean, do you see, did you do you see me in there somewhere,
29:03
Adam, You know, I see. I see somebody who looks like
29:07
you a little bit, but you know, I.
29:09
Mean Like the Where's Waldo? Is that what this is?
29:11
Yeah. Where's?
29:12
Where's Waldo? Where's?
29:13
Rondo. Where's Rondo?
29:15
I mean, but Can you imagine that?
29:17
It seems unbelievable to me, but again, that that was a report I
29:21
took. That's a screenshot from.
29:22
It was actually from a Chinese news report and that was just
29:27
one shot. I mean this demand for gold and
29:29
I guess, you know, we won't go down the whole bifurcation
29:32
bricks, bricks plus the conversation.
29:34
But the world is changing, and a lot of the world, you know,
29:41
really has a different perspective and value that
29:44
they're placing on the precious metals right now.
29:48
They definitely are. When you leave America, if
29:54
there's such a limited supply to the rest of the world just
29:56
because these countries, some of these countries don't allow
29:59
their citizens to own gold and silver at all.
30:02
So I forget where I read, there was an article, I read that if
30:06
you own 3 ounces of gold, then you're in the top 1% of precious
30:11
metals owners worldwide. So we had a a gentleman come in
30:15
when we very first opened our shop, opened our our office
30:18
here. I keep calling to the shop, it's
30:19
really an office. But when we opened our office
30:21
here, we had some Internet being set up in the salesman that came
30:26
out to set up the Internet, he was from Pakistan and he'd lived
30:30
here for, you know, a large majority of his life.
30:32
But I handed him, he was interested in what we were doing
30:35
and I handed him some gold and he stopped and paused for a
30:38
minute and he says, you know where I came from it was illegal
30:41
for me to touch this gold. And he says here I am in America
30:44
and you're just handing it over to people.
30:46
So we're very fortunate here in America to be in the position
30:49
we're in where we have supply and demand and relatively free
30:53
markets as much as we can have free markets and also have
30:56
regulations if those two things have to exist.
30:58
But when once you get outside of America, the the demand or the
31:02
supply rather drops dramatically because there's a lot of places
31:05
where you're not allowed to own, you know, precious metals and
31:08
other assets in order to build your wealth.
31:11
And so I can understand why in China and places like this where
31:14
they do have access, whether it's limited or not, I don't
31:17
know. And then they get a huge run on
31:20
their precious metals. I heard.
31:24
I heard this the other day. You and I, Adam, could get in an
31:26
airplane together fly anywhere in the world with we'd have
31:30
parachutes on by the way. And if they dropped us out of
31:33
that airplane, as long as we landed on land and not the water
31:38
anywhere in the world and we had some gold and silver in our
31:41
pockets, it would have value. I mean that's massive, right?
31:45
I mean anywhere in the world the gold and silver is you are are
31:49
universal, are absolutely universal to what's to what's
31:53
going on out there. That's right.
31:56
And that's why I I like it. I like things that are universal
31:59
and because when we have to deal with it, we'll have more
32:03
options. Yeah, yeah, hold on.
32:05
I'm getting called from Susie on the on the walkie-talkie here.
32:09
So let me hold on like people can't see that.
32:12
OK, guys, we have a a special. We have a special break in from
32:17
Susie on the walkie-talkie. Let's see what she has for us.
32:21
Well, you've got 200 likes, so it's time for the cowbell.
32:25
And you also forgot to do the regular bell for 10 times.
32:29
OK. OK.
32:30
Thank you over. All right.
32:32
Adam, do you mind if I ring the cowbell here?
32:34
It's kind of a tradition on. The show We need more cowbell.
32:37
We need more. Cowbell.
32:38
All right. We're going to ring this for
32:40
Adam and we're going to ring it for Jake from Jake's custom
32:43
parts. We're going to ring it for you,
32:44
right. As an expression of our
32:46
appreciation. There we go.
32:55
Thank you guys. Thank you for, thank you for for
32:58
for everything. Thank you, thank you for the
33:00
Super chat, Christopher. Super chats are always super
33:03
appreciated. Let's talk about the value of
33:06
silver and gold. Briefly talk about go back to
33:08
inflation. Adam, you and I, you mentioned
33:10
this earlier. This became I always heard this
33:13
said like and I've been a lot of the basement dwellers have heard
33:15
this too. Inflation is a hidden tax.
33:18
And I always kind of understood that.
33:20
I accepted that, but I never really understood.
33:22
But I I heard a new way to think about it, and it makes sense.
33:26
Our government has this nasty little habit of spending just a
33:32
little more money than it brings in every year, right?
33:35
You know what? As a matter of fact, since
33:38
Adam's our special, our special guest, I know he's a big lover
33:43
of this. We're just going to pull this
33:44
up. We just need to make sure guys
33:46
that the US national debt clock that our debt levels not going
33:51
down. You never know what happened
33:53
overnight. Hold on here.
33:54
Let's just take a quick look. And now, now yesterday we were
33:57
at 30-4 trillion, 506 billion. So we've added know about
34:02
another 5 billion to the national debt.
34:05
Just wanted to make sure nothing changed there.
34:08
So this idea that inflation is a hidden tax, The government
34:11
spends more than they bring in, so they need some extra money,
34:15
right? So they have a choice.
34:16
They can either raise taxes, you know, maybe tax.
34:20
The ultra wealthy can't go there, right?
34:23
So they can either raise taxes, or they can borrow money.
34:27
And eventually borrowing money dilutes the value of the
34:31
currency, which makes prices go up for everyday average
34:35
Americans. Which most of us basement
34:37
dwellers are right. But it happens real slowly.
34:40
It's the old, you know, boiling a frog in hot water type
34:44
analogy, but all of a sudden you wake up and you go to the dollar
34:48
store and everything cost $1.25 and you're only getting half as
34:52
many, half as many pieces of candy in the box as you got,
34:57
let's say, four or five years ago.
34:59
Do you see Adam? Do you see inflation as a hidden
35:04
tax? Does that make sense to you?
35:06
And do you agree with the assertation that silver and gold
35:11
over the long run will protect your buying power, will protect
35:16
your wealth, will protect you against the ravages of
35:19
inflation? Well, the short answer there is
35:23
yes, it is definitely a hidden tax, but more menacingly, it's a
35:29
tax on the poor. So the wealthy of our country,
35:33
they have investments and they own properties and they own
35:36
assets. They're going up in value and
35:39
the the poor don't have these assets so they go work for 4050
35:44
sixty hours a week and then they're trying to scrape by and
35:47
save money and it's just getting eroded 8-9, ten, 15% inflation
35:53
every year that their labor is being devalued and that's the
35:58
real that's the real evil of of taxation and and and inflation
36:04
is is that Oh yes Sir. I want to throw in because I
36:08
read this the other day, it goes exactly along with what you just
36:11
said. And that is when that happens
36:14
for the wealthy, since they own all the real estate and all the
36:17
stocks, they call it a bull market, right?
36:19
It's a bull market in the stock market.
36:21
It's a it's a great real estate market.
36:23
But the difference, which goes exactly with what you just said,
36:27
is that, yeah, the wealthy own all the real estate, so the real
36:30
estate goes up in value. But the poor, who have to pay
36:34
rent, what do they get? They get higher rent, right?
36:37
They get higher food costs. I'm sorry I interrupted you, but
36:39
I wanted to interject that point.
36:41
No, it's 100% right. And and I want to be those rich
36:45
people and I want everybody to be rich.
36:46
I think there's enough assets to go around to where nobody has to
36:49
be poor. We have plenty of assets here
36:52
and and and the the main thing that I see it if you want to, if
36:57
you want to protect your assets and your and your your your
37:00
wealth, it's it's not a challenging, it's not a
37:04
challenging formula by index funds, by CDs, by physical
37:09
assets and property by gold and silver.
37:11
And these things go up in value over time.
37:14
But if you don't have the the the funds to do that, if you
37:18
don't have the wealth or or a limited capital, we'll we'll say
37:22
it that way. If you have limited capital and
37:24
you have limited capabilities, those things are really hard to
37:27
come by. And what is it that keeps those
37:29
people with limited capability. That's the that's the unfair
37:34
inflation that takes place inside our current you know debt
37:38
based monetary system. And it's and it's kind of
37:41
designed that way. You know for better, for worse
37:43
it's it's there and the inflation is designed into it.
37:47
The idea is to avoid deflation because deflation is much worse
37:52
than inflation. But it's a little bit of
37:55
misleading to say that a little inflation is OK as long as you
37:59
avoid deflation because you're really taking the bottom portion
38:03
of our of our society, of our American people and and and
38:08
you're you're making it impossible for them to to creep
38:12
up on on that ladder and and buy precious assets.
38:15
And that's why gold and silver for me is a great starting point
38:20
to protect your wealth because you can buy in at a very low
38:24
amount, you know, 40-50 dollars. There's a Silver Eagle, I think
38:27
they're $34 today on our system. So that's very affordable and
38:31
then you can start preserving your wealth against inflation.
38:35
Yeah. And I want to add because you
38:37
said something that that that that prompted this thought with
38:41
in my mind with that Silver Eagle you're looking at this is
38:43
1 ounce of silver. This is a store of value, right?
38:48
You go out and work and you earn one of these and you put it on
38:52
your shelf for 10 years. You're going to store the value
38:56
of your work much more effectively than if you stored
39:01
it with a $20 bill and a $10.00 bill.
39:05
You know the the bald guy money likes to talk about it's at the
39:08
silver or gold for that matter. They're like a battery they put
39:12
they they don't store energy per SE.
39:14
They store value. Although all the energy that
39:17
went into to to to mining that silver and gold always stays
39:23
within it and and you can't print it right you can't make
39:26
any any more of it. So it's a it's a great it's a
39:31
great way for for you know for all of us to to protect
39:35
ourselves protect our our value. Let's Adam I'm going to ask you
39:41
you're seeing we we covered the more younger people.
39:45
Let's run over here and talk briefly about UPMA.
39:49
You want to mention what's going on over at UPMA.
39:52
Absolutely. So the the UPMA is a set of
39:55
tools that that we offer that we manage the Alpine Gold exchanges
40:00
is contractual with the to manage the membership of the
40:03
UPMA. The United Precious Metals
40:05
Association is a 5O1C6 Member to Member Exchange, and you can
40:10
read all about that if you look at the Resources tab.
40:13
Right there on the screen. Right there will tell you all
40:16
about the features and services that we offer.
40:19
For more or less what we offer are similar services to what the
40:25
to what traditional banks offer. Only we do it with gold and
40:28
silver. You can deposit, you can
40:29
withdraw, you can get debit cards, you can get all these
40:32
other services you can ACH to your bank account.
40:34
So you can buy fractional gold on our system.
40:37
You can buy $5 worth of a gold the Eagle on our system and
40:43
deposit it into your account. You can't withdraw $5 worth of
40:46
of a gold eagle. However, you can invest in it
40:49
and you can buy it on our system and traditionally that goes up
40:52
over time. So you can start your precious
40:54
metals investing on a on our system or system like ours and
40:58
by fractional gold and then you also get the features of it.
41:02
And so this is we try to keep the the fees on the system, you
41:07
know very low you can transat, you can transfer.
41:11
Oh, what's the right word? You can exchange up to $10,000
41:16
in a 30 day period with zero fee and that's the biggest advantage
41:19
you have on our system. So you can buy it on our system,
41:24
then you can sell it on our system to another member.
41:26
And in network transfer there's zero spread on that, there's no
41:30
fee and you can do up to $10,000 in the 30 day period and that is
41:33
tremendous for folks with you know limited capability or
41:37
limited capital. This is an amazingly, you know,
41:40
unique and and approachable way to get into gold and silver and
41:45
it's relatively safe. You know, you can buy, you can
41:48
deposit, you can see how you like it and if you don't like it
41:51
then you can put in a a sell order and you can and you can
41:54
sell right there on the platform and as long as you're under
41:56
10,000 then there's no fees associated with it.
41:59
And it's, I think it's a fantastic service.
42:02
It's all run by volunteers and members.
42:05
There's no employees we we are the closest thing to an employee
42:08
but we're we're under contract to manage those transactions and
42:11
those members and and but that's as close to an employee that we
42:15
get. So it's all, it's all run by the
42:18
members and and by volunteers and it's really of just a
42:20
fantastic platform and it gives people the tools to manage their
42:25
precious metals and I'm, I'm really proud of it.
42:27
And and and is it safe to say that it gives people the ability
42:32
to that it makes silver and gold functional for that it provides
42:38
this avenue. I mean sure you know if you've
42:42
got silver and gold stacked up and that's great, right.
42:44
But nothing against if you don't hold it, you don't own it.
42:47
I'm, I'm, I'm all with you. But if you are the type person
42:51
who maybe wants to possibly convert some of your Fiat that
42:56
you have in a bank account into silver and gold, you're able to
42:59
do that. And then UPMA offers avenues
43:03
whereby you can actually use that money, spend that money
43:08
like loaded, loaded onto a debit card type situation if I
43:12
remember correctly. Don't quote me on any of that.
43:14
But it's one of the and I think it's really important that the
43:17
silver and gold community embrace these types of
43:23
organizations that are facilitating the the ability for
43:29
for silver and gold stackers to be able to use their silver and
43:32
gold in the functional way. Right.
43:34
That if you want to go out to lunch or if you want to buy
43:36
something that you can that you can that that you can you make
43:41
make that transaction and use your silver and gold to make the
43:46
trans. I mean it's it's it doesn't take
43:50
away from our ability to stack silver, gold and actually could
43:54
potentially vastly expand the number of people who are are
43:59
using and investing in silver and gold and expand the demand
44:03
for silver and gold as well. Yeah, that's exactly right.
44:06
You you hit it right, right on the head there.
44:08
So there's there's there's always the folks that say if you
44:12
don't hold it, you don't own it. And that's 100% true.
44:15
We want people to own and hold their gold, you know, so that
44:19
you can you can build your wealth yourself.
44:23
But there's also a large amount of people out there.
44:25
Just like I said earlier, there's an estimated $27 million
44:28
worth of gold and silver assets in New Hampshire that people
44:32
don't know what to do with. And so they they're not
44:35
necessarily interested in in holding it as much as they are.
44:39
How do we get this to work for us?
44:41
So the UPMA brings practical daily tools that you can use to
44:46
to manage your metals in day-to-day transactions.
44:50
You can do member to member transfers, you can absolutely
44:52
get debit cards, you can ACH to your own bank account and you
44:56
can also just you know continue to to hold and stack and it's a
45:00
Safeway to build your wealth over time.
45:03
We even have a leasing program where you can buy gold on our
45:07
platform, put it into the leasing program, get paid 2%
45:11
interest and then when you're ready to hold your gold, you can
45:14
withdraw it and we will ship it right to you.
45:17
So the idea is if you're buying this for a long term investment,
45:20
you want that investment to be what's called an active
45:23
investment. You want that that investment to
45:26
be making you money, make building your wealth as you're
45:30
buying it. So you can buy it on our
45:32
platform. You can put it into the leasing
45:34
program. You can build over time.
45:36
It pays you 2% interest and then when you're ready, withdraw it
45:39
and we ship it right to you. And these are the tools, excuse
45:43
me, these are the tools we're trying to provide to our members
45:46
so that they have a practical way of managing their precious
45:50
metals, especially in New Hampshire when all these these
45:54
estates start turning over to the children and grandchildren
45:57
and they don't know what to do with it.
45:58
They need tools and we're supplying some of those tools.
46:01
Yeah. And you're bringing more and
46:03
more people into the mix of silver and gold, right?
46:08
I mean, that's right. The weird people we're we're
46:10
taking steps here we've got the New Hampshire sound money Act
46:13
that's in committee right now and of course you know that's
46:16
the sausage factory where they're they're they're making
46:18
all the policies that's the hard stuff.
46:21
So but we support that bill we're we're looking for clarity
46:24
in the law so that these these estates can use their gold and
46:29
silver and daily transactions. Nobody on the committee was
46:31
against it. They just the questions they had
46:34
from the Treasury was you know how do we how do we account for
46:36
this To the the questions that came from the Justice
46:40
Department, where how do we how do we enforce this?
46:43
You know, if if we have to enforce gold and silver law,
46:45
what you know, what do we do there.
46:47
But nobody in the committee hearings, when we were
46:49
testifying, nobody was against it.
46:51
Everybody thought it was a fair idea and it was a good idea to
46:55
to give people clarity in the law.
46:56
And that's what we're shooting for.
46:58
We're working with several organizations.
47:00
One of them is the Citizens for Sound Money.
47:04
They're a national organization that are, you know, supporting
47:08
sound money law and sound money legislation, legal tender acts
47:12
and so forth from all different types of states.
47:16
And we're working with them. So we're bringing a whole lot
47:20
into the development of these precious metals.
47:23
And even the chairman, when when I was up there testifying, even
47:27
the Chairman pointed out that you know it was only 1978
47:30
whenever we came off of the gold standard and up to 1978 we had
47:34
clarity in the law and we were using gold and silver and
47:37
transact in these daily transactions.
47:39
So it it's not like we can't go back to that.
47:42
You know, we've we've done it in the past and we did it for
47:44
hundreds of years. And and and America achieved
47:48
greatness during the period of time when we were on the gold
47:52
and silver stand standard. We were on a bimetallic America
47:56
really achieved most of its greatness during that period.
48:00
And you can actually look back at other major civilizations
48:03
throughout history where that's the case.
48:05
And there is a wave of legal tender legislation sweeping
48:10
across the country. I talked with Pat Holland.
48:12
I talked with Pat Holland from Missouri Freedom Initiative,
48:15
Daniel Diaz from Citizens for Sound Money at Mike Mahari on
48:19
just the other day from the 10th Amendment Center.
48:22
This is real. This is happening, OK.
48:24
I think right now it's hard to keep track of, but there's like
48:27
actually 20 or 25 states that either have or are considering
48:32
some form of legal tender legislation.
48:34
If you're a silver and gold stacker, right?
48:38
Basement dwellers. I'm talking to you, right?
48:40
That's you. I know you.
48:42
I know you. You love silver and gold.
48:44
This is good for you, right? This helps actually protect you.
48:49
This was in the United States Constitution, right?
48:52
The founding fathers put it in there.
48:54
All right. And I know Thomas Jefferson
48:56
didn't write the Constitution, but listen to what Jefferson
48:58
said. Jefferson said the biggest
49:00
threat to the United States is not an invading army, but large
49:05
central banks, large corporations.
49:07
Listen to guys like Andrew Jackson said listen.
49:11
Listen to what the world is telling us about silver and
49:14
gold, right? The world.
49:16
What are the BRICS countries? Brazil, Russia, India, China,
49:18
South Africa, Iran, Saudi Arabia, Egypt, Ethiopia.
49:24
In the United Arab Emirates, there's ten of them now and
49:27
there's thirty more that want to join.
49:29
What are they telling us about the value of precious metals?
49:33
It's happening. So just because here in the
49:35
United States, what maybe one in 201 in 100 people even
49:40
understand or take the action to invest in precious metals when
49:45
people wake up here, right when the one in 100, the one in 200
49:49
turns into 5 and 100 or 10 and 100, it's going to be like we
49:54
talked about earlier. It's not going to be lines of
49:57
people around the local coin shop.
49:59
It won't just be that. It'll be online bullion dealers
50:02
putting up messages saying if you order anything from us, it's
50:05
going to take 12 weeks for us to ship it to you or sorry, our
50:09
sights down because we had too much traffic.
50:12
Look, I don't have a crystal ball.
50:14
I'll always throw that in there. But you know, when we look at
50:17
what's going on in the country, in the United States and on a
50:20
worldwide basis, it's very, very exciting.
50:23
Adam, I'm going to. Turn it over to you.
50:25
Yeah, absolute. Thank you.
50:26
Hey, you mentioned Daniel Diaz and Patrick and those guys, You
50:29
know, I'm going to be meeting with them this weekend.
50:31
We're doing a conference in Nashua, NH and they're all going
50:34
to be there. We're going to be there with
50:36
Tulsi Gabbard and Glenn Jacobs and Citizens for Sound Money.
50:40
There's going to be a lot of great speakers there.
50:42
And if you don't mind, I can invite the the the guest to your
50:45
show to to come to the conference.
50:47
It's going to be in Nashua, NH and it's going to be the New
50:51
Hampshire Liberty Forum, so you can read about that at NH
50:54
liberty forum.com. It should.
50:57
Be up on the screen right now. Is it?
50:59
Can you see it? I.
51:00
Don't think it's got it hasn't popped up there yet?
51:02
No, still. Just try that again.
51:05
Welcome to Ron's Basement, The World of technical challenges.
51:09
Now is it up? Now, yeah, there it is.
51:11
Yeah. So we're going to be there.
51:13
We're going to be with all these guys.
51:14
You can click on the speakers there if you don't mind.
51:17
Ron at the at the top. Oh sure, Whatever you need,
51:21
Adam, This is your show. I'd be.
51:22
Happy to. I'm just taking it.
51:23
Well, I was going to be the Citizens for Sound Money and I
51:27
and you know, I'm. But we're we're going to be
51:30
there. I got a question about one of
51:32
these. I got I have a question about
51:33
one of these guys that's going to be there.
51:35
So let me save that for last. So here's your speakers, homsy
51:39
Gabbard. Wow, wow.
51:41
Look at this guys. I'm going to scroll through
51:44
slowly just so people can see who will be there.
51:48
Yeah, and they have day passes available too.
51:50
I know that the VI PS, they've suspended that because they they
51:53
at some point have to start cutting off ticket sales, but
51:56
they're still daily passes there.
51:59
There's Mr. Jim Forsyth, our our best, all of our hopes, all of
52:03
our prayers go out to him and his family.
52:05
They're having some struggles right now and anyone that would
52:07
like to throw some some prayers towards Mr. Forsyth and his
52:12
family, they would be really well appreciated.
52:14
They're they're having a struggle this weekend and in our
52:16
hearts go out to them. And there is a there is a
52:19
GoFundMe. If you Google Jim, Forsyth,
52:22
GoFundMe, you can learn a little bit more about what's going on
52:26
and how you can help Jim, who is probably, I think, generally
52:32
accepted as one of the greatest leaders in the silver and gold
52:36
community. And I've never met him in
52:38
person. I met him on Zoom about four
52:41
times. Always went away from
52:43
conversations with Jim, super impressed and just a absolute
52:49
top tier person. Yeah absolutely.
52:52
He was just he's he's just fantastic and and we just we
52:55
just hope the best for him and his family.
52:57
So yeah these are just some of the local speakers that we have
53:01
coming into. These are all liberty minded
53:03
people. There's my there's my boss.
53:05
He'll be the president of Alpine Gold is going to be there.
53:08
Mark Hilton, he's going to be there on a couple of different
53:11
panels and he's very knowledgeable of economics and
53:15
precious metals and does he have?
53:17
A brother named Larry. He does have a brother named
53:21
Larry Hilton. That's right.
53:22
He's Larry is the guy who put all this stuff together for us
53:24
back in 2011 with the first Legal Tender Act in Utah that
53:29
brought brought legal tender gold and silver back into vogue
53:33
whenever Utah started accepting it so.
53:35
Was Utah the first state? I believe it was.
53:38
Yeah, I think it was, yeah. Eric Brakey is a former Maine
53:42
senator, I think, and he, he was pushing for a gold and silver
53:47
bank in in Maine. So he's in another sound money
53:50
guy that's doing a real good job there.
53:53
So it's going to be a very full weekend.
53:55
There's no way you'd be able to see all these speakers because
53:58
there's so many things happening across the board with so many
54:01
things throughout the whole weekend that it's just going to
54:05
be packed with, you know, liberty and freedom and sound
54:09
money. It's going to be a great
54:10
weekend. So anyone that is within driving
54:12
distance, come by and see us. There's a Marion Ward.
54:15
She's the former, I think she's the former executive director of
54:19
Citizens for Sound Money. I know she used to work there,
54:21
pretty much. And there's your friend Patrick,
54:23
I think, right? Yeah, yeah.
54:24
But I want to say a great friend of any and all, all the basement
54:29
dwellers know this, this man, right?
54:31
A a leader in Missouri and becoming a leader on a national
54:34
basis as well. Pat Holland, you know, I'd like
54:38
to joke around but I won't because you know Pat and I are
54:40
very good friends. He he's another person like Jim
54:46
Forsyth who has worked tirelessly for the, for the for
54:50
the whole silver and gold community.
54:52
So the fact that Pat Holland will be there, I think along
54:57
with all these other speakers including Tulsi Gabbard, I think
55:01
speaks volumes as to the quality of of of what this event will be
55:06
offering. Absolutely, Daniel Diaz.
55:10
There is there, yeah. Now he's he's an absolute joy.
55:13
What a, what a great personality he is too.
55:15
So he's a great a great. Yeah.
55:18
A great partner in the. Silver goal.
55:20
I wanna, I wanna. Let's end, let's end with this
55:23
quickly. This was kind of a a news of the
55:26
weird story. But yes, hold on, hold on.
55:30
I'm getting called by Susie. Yes, I heard you with 300 likes.
55:36
OK, Rodger. Oh, boy.
55:38
OK, Basement dwellers. It's that time of the show.
55:41
And without further ado, we have 300.
55:44
But this has been a great show. Over 500 people joining us live.
55:48
I need to ring the gong, Adam, if that's OK with you.
55:52
That's another tradition. But that speaks to how much
55:57
people have enjoyed you today. Because we don't ring the gong
56:00
on every show, but since we have 300 thumbs up, we're going to
56:03
ring the gong three times. The golden gong.
56:12
Congratulations, Adam. You're you're a popular guest.
56:16
You're in the basement, no doubt about it.
56:18
So I'm honored. You're a well, well, we're
56:21
honored to have you. I'm going to pull up this quick
56:24
article because I think this does have to do with the silver
56:27
and gold, the silver and gold, and I'm going to tell you why
56:30
you make you know, we've already established I'm a little crazy,
56:33
but $500,000 sand dune designed to protect coastal homes washes
56:39
away in three days. So this was in Massachusetts
56:44
Salisbury. They invested 500,000 to build
56:47
the sand dune, to keep their houses from wash, to keep their
56:51
their houses from washing away after being completed last week,
56:54
the barrier made from 14,000 tons of sand lasted just 72
57:00
hours before it was completely washed away.
57:03
They got hit with a bad storm, blah blah blah, this guy says, I
57:07
don't know what the solution is. Beachfront homes are being taken
57:10
away. Some guy down here later in
57:13
there was he was complaining about the fact that his tennis
57:16
court got ruined and I thought, well if he has a tennis court,
57:20
he's probably OK. I imagine he has some other
57:22
assets he can fall back on. But it got me thinking about
57:25
silver and gold. And I always, you know, we
57:28
talked about the manipulation of the silver price, the
57:30
manipulation of the gold price, right, and that and that
57:35
eventually right. The Comex and the LBMA, they can
57:37
only, they can only mess with the free market.
57:41
They can only mess with the the powers and the forces of the
57:45
free market, Mother Nature, if you will, and that eventually
57:49
market forces prevail. And I use that analogy often on
57:53
the show that eventually Mother Nature wins.
57:56
And to me, you know, this is not a religious show, but a lot of
58:00
people refer to silver and gold as God's money.
58:04
And I think that's a great example, right?
58:06
Like the COMEX and the LBMA, they're that, they're that sand
58:09
dune that gets put up and they're going to try to control
58:11
the forces of Mother Nature. But in the end, Mother Nature
58:15
prevails. And I think in the end, we can
58:17
all agree that silver and gold are a store of value.
58:22
Look at your silver. Look at your gold.
58:24
I know it's easy to to value it in U.S. dollars, Fiat, whatever
58:28
you want to call it. Sometimes we refer to it as
58:30
Unicorn fart dust here in the basement.
58:33
But at the end of the day, right, it's Oz and it's a store
58:37
of value, believe it or not. That's about all I have to say.
58:41
Adam, do you have any closing thoughts before we bid farewell
58:45
to our viewers? Over 500 people, I think 600 at
58:48
one point. Great success.
58:51
I'll I'll just add to what you said.
58:53
My favorite thing to say is that overtime gold has always
58:57
maintained its value. It's the dollar that fluctuates
59:00
and goes down in value. So 60 years ago you could buy a
59:03
house for 256 gold coins and today you can buy that same
59:07
house for 256 gold coins. So the value of the house didn't
59:10
change. The value of the gold didn't
59:12
change. The value of your money is what
59:14
changed. Wow, powerful.
59:16
Thanks, Adam. We're going to look forward to
59:18
seeing you next time. Thank you, Ron.