Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / SHOCKING - DUTCH Central Bank Revelation - Silver Price & Gold Standard

Transcript

SHOCKING - DUTCH Central Bank Revelation - Silver Price & Gold Standard · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  What would it mean for your silver, your gold, if the
• 0:04
  European Union went to a gold standard?
• 0:08
  You remember backing our money with actual physical metal.
• 0:12
  What do you think that would do to the price of precious metals?
• 0:17
  Do we have some evidence? Do we have some clues, some
• 0:21
  crumbs we can pick up along the way that maybe indicate to us
• 0:25
  that that could be the case? Or at least one or many of the
• 0:30
  European Union countries are preparing themselves,
• 0:33
  positioning themselves for that possibility.
• 0:37
  We're going to talk about that in this video.
• 0:40
  We also want to talk about the big picture of what's going on
• 0:43
  in the silver and gold market, the dollars going down, bond
• 0:48
  rates are going down. There's a lot of big factors at
• 0:51
  play that can be coming together.
• 0:53
  What do you think's going to happen if we get just a little
• 0:57
  good luck, a little confluence of good factors that could
• 1:01
  propel the price of silver and gold higher?
• 1:03
  I'm going to talk about a couple critical things that are
• 1:06
  changing right now that can give us reason for great optimism,
• 1:11
  and we deserve that, right. We've been through the mill as
• 1:14
  precious metals investors. The last official three years
• 1:19
  have been very, very difficult. Look, the gold price is actually
• 1:23
  holding up pretty well. But silver investors have been
• 1:26
  buffeted around. We're hearing from a lot of the
• 1:29
  retail coin shops. People are actually giving up on
• 1:33
  silver. Could that be a good sign for
• 1:36
  what's to come? That's officially considered
• 1:38
  capitulation. When people give up, it's
• 1:42
  usually measured more in the stock market.
• 1:44
  But could that be going on right now in the precious metals
• 1:48
  market on the retail investment side as well?
• 1:51
  I've got a fascinating visual that I'm going to show you later
• 1:55
  as well about just how much gold and silver had been mined in the
• 1:59
  history of the world relative to other metals.
• 2:03
  But let's dig right into watch the what this Dutch central
• 2:06
  banker had to say. There was a recent interview
• 2:10
  with one of the one of the Dutch central bankers.
• 2:13
  His name is Artert. Artert Hubin.
• 2:16
  OK, he's the Director of financial markets for the DNB.
• 2:20
  Now you may be asking, what's the DNB, Ron.
• 2:23
  Well, that's the Dutch National Bank.
• 2:25
  That's the Dutch equivalent of the United States Federal
• 2:29
  Reserve, where our old friend Gomer Pyle, not Gomer Pyle,
• 2:33
  Jerome Powell works. But the Dutch central banker had
• 2:38
  some very interesting things to say about his viewpoint on gold
• 2:43
  in particular. And when he talks about gold,
• 2:45
  you know he's talking about silver.
• 2:47
  Could we be heading, are they preparing for a potential gold
• 2:52
  standard in the future? Guys, we got to remember and
• 2:55
  let's do a quick history, because that's what this article
• 2:58
  starts out with. We were on the gold standard
• 3:00
  until 1971, the Dutch central banker says.
• 3:04
  Right after World War Two, we had the Bretton Woods agreement.
• 3:08
  That was when the United States basically told the world, hey,
• 3:12
  the dollar is king and all the other world currencies, like 40
• 3:17
  other world currencies were pegged to the dollar.
• 3:20
  That meant that it was a a fixed exchange rate to the dollar.
• 3:25
  But the United States said don't worry guys, because the dollar
• 3:28
  is backed by gold. The dollar is good as gold.
• 3:32
  And that worked great. Right up until about 1971,
• 3:36
  countries like France, countries like Holland did very, very
• 3:39
  well. They had trade surpluses and
• 3:42
  they were able to accumulate large amounts of gold.
• 3:44
  But then suddenly, and now I'll start reading to you from this
• 3:47
  article, we're going to analyze this because this Dutch central
• 3:51
  banker has some fascinating things to say that can spark
• 3:55
  some real optimism for anyone who's an enthusiast.
• 3:59
  And I know that you for the precious metals.
• 4:02
  Before I do that, I want to remind you, big giveaway this
• 4:05
  Friday. Black Friday.
• 4:07
  The big Black Friday giveaway. Let me pull out the box and show
• 4:10
  you what you can win this Friday.
• 4:12
  OK, quickly. Where's the box?
• 4:15
  Here's the box. I lost the box.
• 4:20
  I lost the giveaway. Just kidding.
• 4:22
  I've got it all in here. It's all here.
• 4:25
  Look, look, let's start with the biggie.
• 4:28
  We've got a 10 oz Bar from our friends at Pinbex Pi MB E
• 4:33
  xpinbex.com. It's right there.
• 4:35
  Go check them out online. Bullion Dealer A 10 oz
• 4:40
  Engelhardt bar. You can win this on Friday, OK,
• 4:45
  but you need to enter the giveaway.
• 4:48
  We've got some gold backs from our friend Adam Van, gold backs
• 4:55
  and from our friend Jim M Coin Shop Chris and a number of
• 4:59
  other. All this silver, there's
• 5:03
  everything in here. One ounce coins, all kinds of
• 5:05
  crazy stuff. All that can be yours.
• 5:08
  Go to the link in the description of this video or any
• 5:12
  of my videos. Don't go now.
• 5:14
  I want you to stay with me now, but there's a short little 2
• 5:18
  minute video. I'll go through everything
• 5:20
  that's in the giveaway in detail, but you can.
• 5:23
  All you have to do is leave a comment on that video.
• 5:25
  I tell you exactly what you have to say to be entered into the
• 5:28
  giveaway. Now let's get back to this
• 5:30
  Dutch. What did this Dutch central
• 5:32
  banker say about gold that we found so interesting?
• 5:36
  He says here. As a as a result, our gold
• 5:41
  reserves increased or we got more dollars that we converted
• 5:45
  into gold. We kept asking the Americans,
• 5:48
  can you convert our dollars into gold?
• 5:51
  This was like in the 1960s, all right.
• 5:54
  Leading up to when Nixon took us off the gold standard.
• 5:57
  Americans made losses from their trade relationships.
• 6:00
  Eventually, it was unsustainable for them to lose more and more
• 6:03
  of their gold reserves. And finally, in 1971, you're
• 6:07
  likely if you're joining me from the United States, you're
• 6:10
  President. Nixon announced America's
• 6:13
  departure from Bretton Woods. But by then the the Dutch had
• 6:18
  over 1700 tons of gold. He says yes we did very well.
• 6:24
  Nixon temporarily took the United States temporarily,
• 6:27
  although it's lasted almost 50 years now, right?
• 6:30
  Guys took us off the gold standard and we know what a wise
• 6:35
  decision that was for President Nixon to take the United States
• 6:38
  off the gold standard, right. The dollar has done so well now
• 6:42
  that it's just based on nothing. You know Nixon press the button
• 6:47
  and turn the dollar into Unicorn fart dust and look how great.
• 6:50
  You know, look how great the that the tech stocks have done.
• 6:53
  Look how how the dollar has maintained so much of its value.
• 6:58
  Prices have gone down, right? The middle class is flourishing
• 7:02
  in the United States. What a great idea.
• 7:05
  President Nixon, we really appreciate you abandoning what
• 7:08
  the founding fathers of the United States of America put
• 7:13
  into the United States Constitution because they were
• 7:15
  afraid of the evils or the downfalls of central banking.
• 7:21
  I digress. This is where it gets very
• 7:24
  interesting. The narrator asked the question.
• 7:27
  Since the 1970s, gold had no role in the monetary system, but
• 7:33
  we and other countries had substantial reserves, and the
• 7:36
  Dutch central banker says this. He says the beauty of gold.
• 7:41
  I wonder What he finds beautiful about gold and silver is that
• 7:45
  it's stable in value. It retains value.
• 7:49
  That's one of the reasons why central banks hold gold.
• 7:52
  If you thought about this, central banks around the world,
• 7:56
  they're not buying dollars, they're not buying Bitcoin.
• 7:59
  They're not buying anything right now.
• 8:01
  What are they buying? They're buying gold.
• 8:04
  And when we say gold, we're talking about silver as well, he
• 8:07
  says. Gold has an intrinsic value,
• 8:10
  unlike a dollar or any other currency, let alone Bitcoin.
• 8:15
  He actually said that wow, gold has a value on its own.
• 8:21
  It's fungible product, meaning it can be separated.
• 8:24
  I'm pretty sure that's what fungible means.
• 8:26
  I could be wrong. Correct me in the Does fungible
• 8:29
  mean it can be divided easily, Say yes or no in the comments.
• 8:33
  Otherwise I'm going to feel like a real more of a heel than I
• 8:36
  feel like a lot of the times. He says it's a liquid product.
• 8:40
  You can buy and sell it almost anywhere in the world.
• 8:44
  This is the Dutch central banker guys.
• 8:47
  So it's really an outstanding commodity to base an exchange
• 8:51
  rate system. Quote, parentheses, gold
• 8:54
  standard on. Did you hear what this guy just
• 8:57
  said? That's music to our ears.
• 9:00
  This is not not some gold or silver enthusiast in his
• 9:04
  basement in Cincinnati or Saint Louis or or Texas or Tampa or
• 9:11
  Quebec or or Mexico City. This is the Dutch central
• 9:15
  banker. OK, darn it.
• 9:18
  I need to look at the things. Does fungible.
• 9:20
  What does fungible mean? Somebody help me.
• 9:25
  I think it means it's it's dividable.
• 9:29
  Hold on, let me, let me pop out the chat here.
• 9:33
  Fungible, fungible Bitcoin. Bitcoin is a reason.
• 9:36
  God bless. God bless you, Goya.
• 9:38
  OK, let's get back to this. Let's get back to this.
• 9:42
  OK. But then the, the, the, the, the
• 9:45
  central bankers asked this question.
• 9:46
  Yet we sold quite a bit of our gold.
• 9:48
  Why? He said there are a number of
• 9:50
  things that make gold very attractive to central banks.
• 9:53
  Gold is like, is like solidified confidence.
• 9:57
  Wow, listen to this. Gold is like solidified
• 10:04
  confidence for the central bank. It's something that has
• 10:07
  historically fulfilled that role.
• 10:10
  If we ever unexpectedly have to create a new currency or a
• 10:14
  systematic risk arises, right Crisis, like maybe the dollar
• 10:19
  blows up. I'm not saying it's going to
• 10:21
  happen, but could the public can have confidence in the Dutch
• 10:25
  National Bank because whatever money we issue, we can back it
• 10:29
  with the same value in gold. Oh wow, let's, let's move on.
• 10:41
  The Dutch hold the 7th most gold in the world.
• 10:44
  He says yes, in terms of our GDP, this is where it gets
• 10:47
  interesting, more interesting, We're in a fine position.
• 10:51
  So then they ask the banker, so how do you determine what is an
• 10:54
  appropriate amount of gold to hold?
• 10:56
  Because that 35 billion, that doesn't quite relate to our GDP,
• 11:01
  does it? Thank you, Craig, for the Super
• 11:02
  chat. Thank you.
• 11:05
  And I think I got another one before the IT started.
• 11:07
  Thank you also for the Super chat.
• 11:10
  Super appreciated, guys. OK.
• 11:12
  So he's asking, do we hold enough gold?
• 11:15
  OK. And Huban says the the Dutch
• 11:18
  central banker says we have about 4% of our GDP and gold
• 11:22
  reserves. This is the key and this is a
• 11:25
  big deal. And that's comparable to France,
• 11:28
  Germany and Italy. Those are the biggest economies
• 11:32
  in the EU and they all hold about 4% of their GDP in gold.
• 11:38
  They hold proportionate amounts of gold to their relative GDPS.
• 11:44
  And I we, I we've, we've heard this before.
• 11:46
  I haven't talked about this for months and months but it's been
• 11:50
  brought up several times before. Why do they all hold about 4% of
• 11:55
  their GDP in gold? Because they know that if the if
• 12:00
  the going gets tough, right? There's other ways to say that,
• 12:04
  but if the if the if the turds start flying however you that
• 12:07
  was probably bad to say. But you know what I'm saying, if
• 12:09
  things get bad that they can back their currency with gold,
• 12:15
  he said. I think it's they asked him all,
• 12:17
  is that the rule of thumb? And the Dutch central banker
• 12:19
  says, I think to be very honest, there is no optimum.
• 12:22
  So you can't determine objectively what is the optimal
• 12:25
  level, optimal level of gold reserves, just like with
• 12:29
  insurance, insurance, because you don't know when and to what
• 12:33
  extent a fire is going to occur and so on.
• 12:36
  Of course, it also has to do with the shocks of the future,
• 12:41
  with all kinds of uncertain factors.
• 12:44
  I think it's just that we as Dutch people want to be a little
• 12:47
  careful. We think it's good to have a
• 12:50
  certain basis of solvency at the central bank invested in gold.
• 12:57
  They then they then ask him, because you could also say if
• 13:01
  it's a kind of insurance, for example, if the financial system
• 13:04
  collapses or whatever, shouldn't you have a lot more?
• 13:07
  And he says to that, remember guys, central banks.
• 13:11
  It's not just the Dutch, OK? It's it's not just the French.
• 13:15
  It's not just the it's not just the Chinese.
• 13:17
  Central banks around the world aren't buying Treasury bonds,
• 13:23
  aren't buying U.S. dollars, OK? They're buying gold.
• 13:28
  We can't emphasize this enough. And they're buying more gold
• 13:32
  right now than they bought back. And when the Bretton Woods was
• 13:35
  in place and they were on the gold standard, it's absolutely
• 13:39
  crazy, OK, Again, they asked him, shouldn't you have a lot
• 13:42
  more gold? And the Dutch central banker
• 13:44
  said you could think that. I think it's more than enough
• 13:47
  because if everything collapses, I can't believe this guy saying
• 13:51
  this, then the value of those gold reserves shoots up.
• 13:56
  It skyrockets. OK, look, I get beat up all the
• 14:01
  time for saying gold and silver could skyrocket.
• 14:04
  You probably do too, amongst your your mainstream friends.
• 14:08
  This is the Dutch central banker, right?
• 14:11
  There's there's us, right? There's the financial media,
• 14:15
  there's the the central bankers are way up here.
• 14:18
  He's talking about the value potentially skyrocketing.
• 14:22
  Look, I need to do something very important right now.
• 14:25
  You guys have supported me through the last one year and 10
• 14:29
  months. Thank you very much.
• 14:31
  One little thing you do that really helps is give this video
• 14:35
  thumbs up. You've given it over 100 thumbs
• 14:38
  up. You get 10 rings of the bell for
• 14:40
  that. Thank you very much.
• 14:45
  This is a Dutch central banker talking about the value of gold.
• 14:49
  And you know what that's going to do for silver.
• 14:52
  We talk about, I'm telling you, do you believe?
• 14:56
  Let me ask in the chat. I want to ask you a question.
• 14:58
  Right. Whoa.
• 14:59
  Look at all these people here. Hello, Annie Oakley.
• 15:01
  Hello, coin chap. Chris, do you believe do you
• 15:05
  believe that by Christmas we're going to have a new all time
• 15:09
  high in gold? I believe we will.
• 15:11
  OK. I'd say it's a 62.4% chance that
• 15:15
  we will, but you put what percent chance do you think?
• 15:19
  Somewhere between 0 and 100 I say 62.4.
• 15:24
  I want to see what you guys think.
• 15:25
  Am I full of it? Am I crazy?
• 15:27
  I just believe we're going to get that new all time high.
• 15:29
  Steph Fram 100 Ricky Sasha crap says 808078.8 Sassy Silver goes
• 15:37
  with 100. Woo wee I can feel it.
• 15:40
  And one of the reasons why I say that is, guys, the last three,
• 15:44
  4-5 weeks gold shot up and it has built a solid base, right at
• 15:49
  a point where it's within spitting distance of a new all
• 15:54
  time high. OK, we're talking 5% more.
• 15:57
  I mean, Bitcoin moves that much in an afternoon, a lot of days.
• 16:01
  OK, 317095. Thank you guys for
• 16:05
  participating. Thank you for being here.
• 16:07
  OK, Don't forget, go to www.ronsbasement.com and
• 16:11
  register. We're incubating.
• 16:13
  You can be one of the first dwellers there, right?
• 16:17
  We've got a chat room that we're building and it's going really
• 16:20
  well. So please, if you get a chance,
• 16:22
  check thatoutandthank.com Don, for all of his hard work on the
• 16:26
  website. Let me get back to this.
• 16:30
  We're not. We're almost done with the Dutch
• 16:32
  central banker. Wow.
• 16:36
  Secondly, OK, he just said that silver and gold.
• 16:39
  Well, he said gold, but we're going to throw silver in there
• 16:42
  with it, right? Because silver always follows
• 16:44
  gold and it follows it in a more exaggerated way.
• 16:48
  Secondly, you don't have to fully cover it.
• 16:51
  That's what experience shows. Full coverage is only necessary
• 16:56
  in a country where there are no other mechanisms to support
• 17:00
  confidence in the central banks. What he's saying is you can
• 17:04
  tether, you can have a gold backed currency.
• 17:07
  Maybe you say that the currency is based 20% with gold.
• 17:11
  Every dollar you know or or or or or euro or whatever is back
• 17:15
  20% by gold. But it's tethered.
• 17:19
  It's think of it like this, think of it like like the
• 17:21
  currency is like a ship floating around and the tether is the
• 17:25
  anchor right. It can float around, but the
• 17:28
  base, the foundation, the anchor, right, is gold, right?
• 17:33
  Gold, gold, Gold. Very, very interesting.
• 17:36
  Let's he says it right here, right.
• 17:40
  He, he's talking about protecting the Dutch people.
• 17:46
  Protecting. There's two big key takeaways
• 17:48
  from this. Number one, protecting the Dutch
• 17:50
  people. The value, the historic value of
• 17:54
  gold and silver for that matter, OK.
• 17:57
  And he's talking about how you don't have to have a ton of it.
• 18:01
  It's like insurance, like he says, all right.
• 18:03
  And it when it when it comes into play, it doesn't just pay
• 18:08
  off, it pays off very, very big. Do you think I'm curious.
• 18:14
  OK, I'm going to ask one more question today.
• 18:17
  Do you think that within the next let's, let's, I mean three
• 18:21
  years, does three years seem that far out?
• 18:24
  Three years. It was three years ago right now
• 18:27
  that we started this horrific market for silver and gold that
• 18:30
  we've endured basement dwellers, we've made it through.
• 18:33
  Think out three years from now into the future, do you think
• 18:38
  that we are going to be facing a much tougher economic
• 18:41
  environment? When I say tougher, I mean the
• 18:43
  hens come home to roost that all this debt that our government.
• 18:47
  Thank you Tara. Wow, Big super Chad, All the
• 18:51
  Super Chad, super appreciated. But when you look out three
• 18:54
  years, do you? I mean three years when I look
• 18:57
  out, I don't want to be a pessimist.
• 18:58
  I don't want to be a cynical, OK?
• 19:01
  But when I look at what's going on right now, and I look out
• 19:04
  three years from right now, I see what this Dutch central
• 19:07
  banker is talking about, that a lot of this could come to
• 19:10
  fruition, that people that hold silver and gold could be very
• 19:15
  grateful. They have it because it will act
• 19:17
  like an insurance policy. Do you think that we've got some
• 19:21
  doom coming down the pipeline? And I'm not going to go, this is
• 19:24
  not going to be a Doom video. It's it's we're not going to go
• 19:27
  completely into the doom. But I feel like when I look at
• 19:31
  what's going on in the world on many different let's let's just
• 19:34
  go through it. Think about your life, your
• 19:37
  household. It's much harder to live.
• 19:39
  OK, It is. Unless you've had some windfall,
• 19:43
  gotten a big promotion at work, won the lottery, whatever.
• 19:46
  If you're average Western person, it's has hasn't it
• 19:49
  become much harder to live right then think about the city that
• 19:53
  you live in. Overall, much harder.
• 19:55
  Think about the United States in general.
• 19:58
  Very difficult situation the country finds itself in
• 20:01
  financially OK. Fiscally our government is in
• 20:05
  deep trouble. Won't go down that rabbit hole.
• 20:07
  But you know, right? 3334.
• 20:10
  Who knows, Maybe it's 35 trillion in debt.
• 20:14
  That alone. But then politically right
• 20:17
  Americans don't get along like no other time in history.
• 20:20
  So we're zooming out. We started with you and your
• 20:22
  house, city, country. Then think about the world, the
• 20:25
  war. We have two wars going on right
• 20:27
  now right? And it's it's it's up for debate
• 20:30
  how involved the United States is.
• 20:32
  But we also know the world is splitting, bifurcating.
• 20:36
  The world is bifurcating. All right.
• 20:39
  You got the West, which is in deep financial trouble.
• 20:42
  Almost all the Western countries, Japan, Europe, right.
• 20:46
  And you got the East, countries that are that are starting the
• 20:49
  bricks, the bricks. Plus, don't forget we have 6 new
• 20:52
  countries joining the bricks and like, what?
• 20:54
  Six weeks the bricks and six, six weeks, 6 new countries.
• 20:59
  See if I can remember them. Iran, United Arab Emirates,
• 21:02
  Egypt, Argentina, Ethiopia. And there's one more that I
• 21:07
  forgot. Please forgive me, right?
• 21:09
  I'm the worst YouTube content creator on the face of the
• 21:11
  earth, right. Anyway, there's six new
• 21:14
  countries joining Brazil, Russia, India, China and South
• 21:16
  Africa. The world.
• 21:19
  That's the big picture, right? That's the big, big picture that
• 21:23
  we're dealing with right now. And it's an interesting time.
• 21:26
  So do you think that in the next three years, three years, that's
• 21:31
  not that long, OK, that we're gonna be facing some very hard
• 21:35
  times? If you do type hard, I'll type
• 21:39
  it hard, I'll type hard times, I'll type you are the best and
• 21:46
  I'll stop typing. You're the beset.
• 21:49
  You're the beset. I like communicating with you
• 21:53
  guys via typing. That's kind of fun.
• 21:55
  Want to do a little more of that.
• 21:57
  Anyway, that's the big picture in that regard.
• 22:00
  But what else is going on in the big picture?
• 22:02
  Because we have some interesting developments.
• 22:04
  I'm having technical problems. Can you guys still hear me and
• 22:07
  see me? If you can give me a 5 by 5,
• 22:10
  that would be very helpful. Hello.
• 22:14
  Extremely. OK, That's coming through hard 5
• 22:17
  by 5. Thank you, Snakebite.
• 22:19
  I'm telling you, someday guys, you're going to get to meet
• 22:21
  Snake Bite in person because he doesn't live too far from me and
• 22:24
  I'm going to get him here in the basement.
• 22:26
  Big picture. OK.
• 22:29
  Oh, have you thought about this? Silver and gold, investors, This
• 22:33
  will bring a little cockles to your heart.
• 22:35
  OK, warm the cockles. Isn't that a sane?
• 22:38
  I hope I didn't say anything bad there.
• 22:40
  Anyway, don't forget as we're dealing with almost all time
• 22:45
  highs for the silver and gold price in Saint Louis.
• 22:48
  And yes, it's going to be a Merry Christmas.
• 22:50
  I told you a 62.3% chance we're going to have all time highs in
• 22:54
  gold. And you know silver's going to
• 22:55
  zoom. Zoom, huh?
• 22:57
  Like Santa on his sleigh. Remember, remember, this is
• 23:02
  serious around the world, gold is reaching all time highs in
• 23:07
  almost every other currency. OK, EUR can't Canada, China
• 23:13
  everywhere, right? And I just generally speaking,
• 23:17
  gold is at all time highs all throughout the world.
• 23:21
  OK, what is that telling us? Ain't telling us nothing about
• 23:25
  silver, but remember, silver always moves later.
• 23:30
  Number one, this is the one and two we all have to remember now.
• 23:34
  Basement dwellers, silver moves later and #2 more extreme, and
• 23:42
  you don't even want to see what's going to happen to the
• 23:44
  mining stocks. I'm not giving financial advice,
• 23:48
  but when they move, they really move.
• 23:51
  I've been at this for 20 years, OK?
• 23:54
  And I've been beat to a pulp with mining stocks over the last
• 23:57
  two or three years, right? We're still standing.
• 23:59
  I'm still strong, you're still strong.
• 24:01
  But I'm telling you, those mining stocks can really, really
• 24:04
  move. OK, I got this.
• 24:07
  We, we have a fellow basement dweller.
• 24:09
  Everybody say get well soon, Mark.
• 24:12
  OK, he'll know what we're talking about.
• 24:13
  He's a fellow basement dweller who's in a state of recovery
• 24:16
  right now and a regular contributor to this channel.
• 24:21
  He sent me something interesting.
• 24:23
  I want to read you about China. China and silver and China's
• 24:29
  central bank. What we're talking about, we
• 24:31
  don't usually talk about central banks so much, but nonetheless,
• 24:35
  let's let's just talk this real quick.
• 24:37
  This was from FX Empire headline and there's not this, this is,
• 24:44
  this is short and powerful, OK. Central bank demand influencing
• 24:51
  silver's bullish trend. Interesting.
• 24:55
  Is that supposed to say gold? Isn't it always the central
• 24:58
  banks are buying gold, gold, gold, which is fine.
• 25:01
  We're happy about that. We're not complaining.
• 25:09
  Hope you didn't hear me slurp. This says central banks are
• 25:13
  buying silver. Very interesting.
• 25:15
  Shall we examine a little bit central banks, notably China,
• 25:23
  the world's second largest economy and growing with a
• 25:27
  growing middle class 1.4 billion people.
• 25:30
  China alone. Like what?
• 25:35
  Excuse me, four times the population of the United States.
• 25:39
  Huh. I hope I don't disintegrate on
• 25:45
  you here on camera. Nonetheless, central banks,
• 25:49
  notably China, continue to increase their silver reserves,
• 25:54
  providing a steady demand for the metal.
• 25:58
  This trend along with the recent economic data from the United
• 26:03
  States, they're talking about our unemployment, our employment
• 26:06
  situation not looking so good, inflation supposedly dropping.
• 26:12
  OK, all right, real estate situation more all that.
• 26:18
  This trend, along with the recent economic data, points
• 26:20
  towards a market that is increasingly bullish on silver.
• 26:24
  Investors remain cautiously optimistic, with expectations of
• 26:28
  a dovish turn in Fed policy amidst subsiding inflation.
• 26:33
  Now what's so interesting about China and silver?
• 26:36
  And I need to do some more digging on this, but excuse me,
• 26:40
  there's also been a recent report that says the Chinese
• 26:45
  government is now encouraging their citizenry to buy silver.
• 26:52
  I'll just go ahead and read you briefly what I know about that.
• 26:55
  But well, basically the Chinese government has come out with
• 26:58
  some new silver investment products.
• 27:00
  I think one was like a 500 gram bar, a kilogram bar.
• 27:04
  I'm doing some more digging on it, but the Chinese state media,
• 27:10
  OK. Like in America you turn on Fox
• 27:12
  or CNN and you get all these washed up TV personalities
• 27:18
  trying to tell you to convert all your money into silver and
• 27:21
  gold. I'm not putting anybody down any
• 27:23
  of those companies, but look, if you you want to buy silver or
• 27:26
  gold, I recommend you buy it for the best price.
• 27:29
  I would recommend that if you're going to deal with one of those
• 27:31
  TV commercial companies that you investigate thoroughly, take
• 27:36
  your time and make sure you're getting a fair price.
• 27:39
  I think Pembax for me is a great solution because they always
• 27:44
  have the best price. And if I'm going to buy silver,
• 27:47
  I want to get quality. I trust Pembex, OK?
• 27:51
  And I want to get as much silver as I can get the best value I
• 27:54
  can get for my dollar. I want quality at the best
• 27:57
  price. Nonetheless, in China, the state
• 28:01
  media is now advertising the benefits of of of investing in
• 28:07
  silver to the Chinese citizenry. Very, very interesting.
• 28:11
  OK, you know, when we're on the subject, the silver, this could
• 28:15
  become a big story. And I think that I'm one of the
• 28:18
  first to be talking about it. I believe Bix Weir was the first
• 28:21
  person I heard talking about it. And I love Bix Weir, and I love
• 28:26
  the content that he puts out in the quality.
• 28:28
  But I did some digging on my own as well.
• 28:30
  This big COP 28 conference in Dubai in a few weeks, Likely
• 28:35
  what we're going to hear is like a new version of the Paris
• 28:38
  Accords. The Paris Accords came out of
• 28:41
  COP 21. That's when the world's powers,
• 28:44
  I mean, this is like a group of the world's biggest, most
• 28:47
  powerful countries. So we got to deal with climate
• 28:50
  change. We can only have 1 1/2 degree
• 28:52
  average increase based upon the Industrial Revolution, the
• 28:56
  average temperature back then between 1850 and 1900.
• 29:00
  And we need to do, they're going to do it again and they're going
• 29:04
  to raise more cane. And what we're hearing, and this
• 29:07
  is coming from official sources, that they're going to propose
• 29:11
  that the world's power elite agree that by the year 2030,
• 29:15
  they triple the amount of installed green energy capacity.
• 29:20
  Most of that will be solar. OK, look, wind turbines use a
• 29:24
  lot of silver as well. But if we get a tripling of the
• 29:28
  world's installed base of solar, where we're at right now, guys,
• 29:32
  the demand are already this year, solar alone is sucking up
• 29:36
  160 million ounces of silver. That's huge.
• 29:42
  And some people think that the final number this year could be
• 29:45
  as high as 200 million oz. Remember, remember last year
• 29:51
  when our friends in India, we're not, we're not real happy with
• 29:54
  our friends in India right now. We're just joking.
• 29:57
  We love India, but our friends in India, last year they
• 30:00
  imported 300 million ounces of silver.
• 30:03
  That was big news. Oh my God, all the all the all
• 30:06
  those pumper silver channels on YouTube, we're talking about II
• 30:13
  imported 30% of the world silver.
• 30:15
  Oh my God, it's a big deal. Blah blah, blah.
• 30:18
  Well, 200 million or 100 solar alone this year, you know and
• 30:23
  the next couple this year is going to bring in, you know half
• 30:27
  or 2/3 of of that amount of silver.
• 30:30
  And as we move in and it and that on its own is growing, but
• 30:34
  if we get this COP 28 thing that goes through, it could be
• 30:39
  absolutely crazy for demand. That's industrial.
• 30:44
  And then I want you to think about this.
• 30:45
  This is the big picture. This is what we get excited
• 30:48
  about. It's awesome that everybody in
• 30:51
  the West is selling their silver, all right.
• 30:53
  It's all over the place. It's just the reality, right.
• 30:56
  People are. People are giving up.
• 30:57
  They're capitulating. They're having silver diarrhea.
• 31:01
  I don't know, whatever you want to call it, People are giving
• 31:04
  up. That's a good thing.
• 31:06
  That's a sign that the market is about to turn.
• 31:08
  And listen, Rick Rule said this, and I think it's brilliant.
• 31:12
  Silver doesn't have to be loved to do well.
• 31:15
  It just needs to be a little bit less hated because silver is
• 31:20
  hated. I can't believe we're going to
• 31:21
  get to 200. Thumbs up, guys.
• 31:23
  Thank you. Don't forget press the thumbs
• 31:26
  up. We got 350 people.
• 31:28
  Let's get it up to 400. Let's do it, baby.
• 31:31
  OK. OK.
• 31:33
  Silver just hasn't. Silver doesn't have to be loved.
• 31:36
  It just has to be a little less hated.
• 31:38
  Thank you. Thank you, my friend Craig
• 31:41
  Edmonds for the Super chat. Super generous.
• 31:43
  We love you too. Just a little less hated, right?
• 31:47
  Has to go from, from, you know, I keep thinking of a story I
• 31:54
  don't want to tell. So, you know, like there's been
• 31:59
  times in my life when certain people maybe weren't too fond of
• 32:02
  me. Okay.
• 32:03
  I'm 53 years old. Let's say when I was in my 20s,
• 32:06
  30s, OK, maybe. Maybe some in laws, right?
• 32:10
  And they didn't like me too well.
• 32:12
  And I changed my ways and I went from being not so well liked to
• 32:16
  being less hated. And it was a good step in the
• 32:19
  right direction. That's all we need for the price
• 32:23
  of silver. OK, All right.
• 32:25
  Anyway, I better. I better get off that subject
• 32:27
  right away. And that COP 28 can be a big
• 32:31
  deal. But what's even a bigger deal?
• 32:33
  Thank you, Frank. Man, you guys are you guys are
• 32:36
  giving it to me. There's even more, Frank.
• 32:37
  Now you got me pumped up with that super chat.
• 32:40
  There's even more what we're talking about.
• 32:43
  The C word. You know what the C word is?
• 32:46
  Basement dwellers. Who knows what the C word is.
• 32:48
  And it's not anything that has to do with any type of body
• 32:50
  part. If you do that, you will get
• 32:52
  timed out on the channel. OK, Who can tell me what the C
• 32:56
  word is? Who's been paying attention?
• 32:58
  Basement dwellers, 'cause this is where it gets exciting.
• 33:01
  OK, who can? Who knows?
• 33:03
  I'm watching. I'm watching.
• 33:05
  Oh, dear God. It's not it's it's a it's a
• 33:09
  economic. Or it's a term that has to do
• 33:11
  with nothing to do with about. Nope.
• 33:13
  Good try original intent. Good try contango currency.
• 33:16
  Nope. Nope.
• 33:19
  I'll get got silver. That's a funny one.
• 33:23
  Horrible spelling. Yeah.
• 33:24
  Let me I'll give you a hint. Rivers sometimes do it.
• 33:28
  Nope, not not crypto. Not contraction.
• 33:31
  Not crime. X not CPI.
• 33:33
  Confluence. Bruce, Tampa.
• 33:35
  Guys, this is where it gets exciting.
• 33:37
  If we have a confluence of factors that are actually
• 33:42
  supportive for the silver price and gold price, a confluence of
• 33:46
  factors, what could another confluence be?
• 33:49
  What could what little streams come together and they become
• 33:52
  very powerful rivers and that could be the silver price
• 33:55
  because we've been fighting against a lot of headwinds, you
• 33:59
  know, that whole story. But the Fed being done, Let's
• 34:03
  talk about our friend Gomer Pyle.
• 34:05
  I keep calling him Gomer Pyle. Not Gomer Pyle.
• 34:07
  I'm going. What's his name?
• 34:08
  The guy that runs the Federal Reserve?
• 34:10
  Not. It's not Gomer Pyle.
• 34:12
  Right. That's Sergeant Carter.
• 34:13
  Surprise, surprise, surprise. Oh, no, it's not Gomer Pyle.
• 34:17
  It's Jerome Powell. Jerome Powell's done raising
• 34:21
  rates. Surprise, surprise, surprise.
• 34:23
  Right now everybody's saying it. Everybody is saying it.
• 34:28
  Oh, my number of people on the thing just went away.
• 34:31
  OK, there you go. You're back.
• 34:32
  We had 200. Thumbs up.
• 34:33
  Let me finish on this and I'll ring the cowbell and I'm going
• 34:36
  to ring it loud, OK. But everybody's saying that
• 34:40
  Jerome Powell, we're done. So congratulations, right.
• 34:44
  I think we're done now. They could try to raise quarter
• 34:46
  point again. Whatever they're doing now, if
• 34:49
  they do raise anymore is just in nominal terms.
• 34:52
  It's not real, OK? They've shot their real
• 34:55
  ammunition. They've used all their good
• 34:57
  missiles. Is another way to think about
• 34:59
  it. So we've got a potential
• 35:01
  confluence of factors coming together that will be very
• 35:05
  supportive for Silver. And there's even more.
• 35:09
  Guys. Man, this is great.
• 35:12
  This is great. I'm so glad you came and joined
• 35:14
  me this morning, 'cause there's even more to be excited about.
• 35:18
  OK? And this came from our friend
• 35:20
  Rick Rule again. Rick Rule, I call him.
• 35:22
  He's like the Crown Prince of precious metals.
• 35:25
  He's smart, brilliant mind. I heard somebody describe him as
• 35:28
  think about this, I want you to think about this.
• 35:31
  All these good things coming together, the whole list we just
• 35:34
  talked about. But the cherry on top, and I
• 35:38
  mean a big nice cherry on top of it all is manipulation.
• 35:44
  Everybody that's invested in precious metals, everybody says,
• 35:47
  oh the price. I have the crime X, right?
• 35:49
  Somebody type that in and I agree it's absolute the price of
• 35:53
  gold and silver. It's been proven pizza cottage
• 35:55
  industry, right. Oh wow.
• 35:58
  Whoa. Silver State man.
• 36:00
  Thank you for that super chat man.
• 36:03
  You guys are super blowing me away.
• 36:05
  Thank you Tony. Thank you Silver State.
• 36:08
  The cherry on top is and Rick Rule said this and it it was a
• 36:12
  it was like a mental explosion for me because I'd never thought
• 36:17
  about this. And that's why we learn from
• 36:19
  each other. You guys please leave comments
• 36:23
  interact. Be nice.
• 36:24
  And you guys are nice, right? All right.
• 36:27
  The moderators do a great job of wedding out the few and I mean
• 36:31
  very few people that aren't nice.
• 36:33
  So. But that's how we learn this
• 36:34
  from each other. Rick Rule said this, OK, all
• 36:38
  this confluence of factors, the price of silver is manipulated.
• 36:41
  The price of gold is manipulated.
• 36:43
  But think about this. Nobody's ever really that I've
• 36:47
  heard brought this up over the last 50 years.
• 36:50
  It was easy. It was easier for the
• 36:52
  manipulators to manipulate the price down, OK?
• 36:56
  Because of macro factors. A strong dollar.
• 36:59
  A strong. the United States ruled the world, right?
• 37:03
  Those manipulators, OK, they don't care.
• 37:06
  What they care about is making money, Number one, right?
• 37:11
  They're greedy, Right. OK.
• 37:14
  They don't care if the price goes up or down.
• 37:17
  They likely manipulated it down over generally over the last 50
• 37:22
  years because that was the easiest direction to manipulate
• 37:25
  it in. Now because of all those
• 37:28
  factors, this confluence that we talked about, as we move into
• 37:32
  now this new era for silver and gold, it's going to be easier
• 37:37
  for them in a minute manipulate the price up.
• 37:41
  OK. So we could be watching the
• 37:44
  price of silver. That's when we see remember
• 37:46
  silver $50. Remember all that.
• 37:48
  I got to ring the bell. Hold on, I'm sorry, I apologize.
• 37:51
  Here you go. Hold your ears.
• 37:52
  If you don't like Bells 321, this came from Joe F, right?
• 38:09
  A regular subscriber member of Ron's Basement.
• 38:13
  We got 400 people here on a Sunday morning.
• 38:16
  You guys are awesome. Thank you for the Super chance.
• 38:19
  OK, thank you, Thank you. Let's talk about you want to see
• 38:22
  something crazy? I'm going to pull up a chart.
• 38:25
  OK, Well, no, a visual. I like pictures.
• 38:28
  OK? I like pictures.
• 38:30
  All right, hold on. OK, This.
• 38:32
  And then we got another bomb. I got a drop on you guys.
• 38:35
  I'm sorry. It's just one of those mornings.
• 38:37
  We are on A roll, baby. Don't forget to go to
• 38:40
  www.ronsbasement.com When you find yourself with a little
• 38:43
  spare time later today, Let's look at something super
• 38:48
  interesting. If I can get the technology to
• 38:50
  work here, we'll just do it this way.
• 38:55
  Here we go. All the metals.
• 39:00
  Oh, here we go. This is all the metals that were
• 39:03
  mined in 2022, OK? All the metals in the world in
• 39:10
  2022 that were mine. So up there, that big one at the
• 39:14
  top, that is iron. Ore goes through all these
• 39:18
  different metals, some of which I've never heard of.
• 39:20
  Copper. There's copper.
• 39:21
  Look how small copper. Copper is that little red one.
• 39:24
  That's copper. OK, now let's go down here to
• 39:29
  precious metals. OK?
• 39:31
  Look at how tiny silver is. That's silver right there,
• 39:38
  26,000 tons, I guess that is. Hold on here, 26.
• 39:45
  Do you see silver? It's right there.
• 39:49
  You see it? Yeah.
• 39:50
  Do you see silver right in the middle of your screen?
• 39:54
  Silver, 26,000 tons. There's something big about this
• 40:01
  that I want to Here's gold. See.
• 40:04
  Tiny little gold. 3000 tons. Silver and gold are precious.
• 40:13
  They are rare. OK, trust me, because people are
• 40:16
  greedy. They would have dug up all that
• 40:19
  they could. Now remember.
• 40:20
  OK, I'm going to show you this picture again.
• 40:24
  This is crazy. Gold is that little tiny dot
• 40:28
  over there. Silver is one of those little
• 40:29
  tiny dots. Those are all the other metals.
• 40:31
  OK. That's how precious silver and
• 40:35
  gold are now. And I forget who shared that.
• 40:39
  Maybe Mark, our friend Mark, who's always helping out with
• 40:42
  the channel. Thank you.
• 40:43
  Mark. Here's what I want to point out.
• 40:47
  I want you to think about what does that mean that the amount
• 40:50
  of gold, the amount of silver, is that small.
• 40:53
  OK. Because people are eyes when we
• 40:55
  talk about silver going to 100, right?
• 40:58
  Keith Newmar can say it, right? Triple digit silver, right.
• 41:01
  He can say it. But if we say it, we kind of get
• 41:03
  attacked on a regular basis. What is, what is this?
• 41:07
  This is this. I want to get your thoughts on
• 41:09
  this. The silver market in particular
• 41:13
  is so small. Do they we all, there's always
• 41:17
  this, oh, it's manipulated, there's powers.
• 41:19
  They want to keep the price down.
• 41:21
  It's so small, right? Like what 20 billion, $23
• 41:25
  billion worth of silver were produced last year.
• 41:28
  Do they really care if this, if the, if the annual silver
• 41:32
  market, excuse me, goes to a trillion, I mean our government
• 41:36
  has 34 trillion in debt. The the the market cap of Apple
• 41:41
  or Microsoft is well north of a trillion.
• 41:44
  I meant to look it up before I came on but I don't know the
• 41:46
  numbers. Home Depot.
• 41:47
  OK, Robbie, Toby Costa put out a very cool tweet just the other
• 41:53
  day that like the value of Apple and Microsoft waiting, the value
• 41:59
  on the S&P 500, Apple and Microsoft combined is like or or
• 42:04
  separately I think are like 70 times more than the entire
• 42:10
  mining industry. Are you kidding me?
• 42:13
  So when I hear here's, here's what I want to ask you.
• 42:15
  When we hear that, oh, they won't let silver go up in value.
• 42:19
  They won't let it's blah, blah, blah.
• 42:21
  I mean, let's say, what is that? What is that 50 times more?
• 42:24
  If, let's say, the value of silver went to a trillion, the
• 42:27
  annual production went to a trillion dollars.
• 42:29
  Oh, what's a trillion? Right.
• 42:32
  And it's our, it's our, it's our government deficit, right?
• 42:36
  Let's say it, it goes up 10 times from where it is to 200
• 42:40
  billion. Just a 10X.
• 42:42
  OK, just a 10X. That would be what $200 silver
• 42:48
  would be. It'd be a $200 billion market.
• 42:51
  We've got, we got. I mean, do you get what I'm
• 42:54
  saying here? I don't know.
• 42:55
  I'm not. I'm not.
• 42:56
  I don't want to get, I want to anger you or get anyone mad when
• 42:59
  I say this. But when I hear us think that,
• 43:02
  oh, there's no way silver could go up 10 times in value.
• 43:05
  You're a pumper, Ron. You're a pumper.
• 43:08
  You're this, you're that. Well, that would be a $200
• 43:11
  billion market. That's like 1/5 of a trillion.
• 43:14
  And we've got companies that sell hardware right, that are
• 43:19
  that are worth, you know, 10 times that.
• 43:22
  I don't know. Just a thought, just a thought.
• 43:24
  OK, let's talk about the California gold rush.
• 43:28
  What do you say? Remember the gold rush, the
• 43:29
  49ers 1849? I learned something fascinating
• 43:33
  last week. There was so much gold in
• 43:35
  California, here in the United States.
• 43:38
  And I think there's still a lot of gold in California, but
• 43:41
  nonetheless that in one year, 1852 this was interesting.
• 43:48
  More gold was produced in California alone in the year
• 43:51
  1852 than the entire world produced during the entire 18th
• 43:57
  century. There was so much gold that was
• 44:00
  being found. What else is interesting is that
• 44:02
  during the first year of the Gold Rush, 1848, it was mostly
• 44:06
  American Indians and Peruvians and Chinese because the word
• 44:11
  hadn't got Americans didn't believe it.
• 44:13
  Well, on the East Coast at first they thought that it was the
• 44:16
  government trying to lure people out to the West.
• 44:18
  OK, so for the first year it was mostly American Indians,
• 44:22
  Peruvians, Chinese that were getting all this easy gold that
• 44:25
  was being found. And then when all the people
• 44:30
  from the East Coast went out there, it's kind of sad guys
• 44:34
  what happened. They basically eradicated.
• 44:37
  I I forget the number, but the number of Indians went from, it
• 44:41
  was very sad, went from like, I don't know, 150,000 down to
• 44:45
  15,000 in the matter of just a couple years.
• 44:49
  It's not. It's not a pretty story, but
• 44:51
  it's just shows. I guess there is a dark side to
• 44:56
  gold, right? And silver.
• 44:57
  But it shows how people are still back then and still today
• 45:03
  attribute such a huge high value to gold.
• 45:06
  Now if you want to get your hands with some gold in the
• 45:07
  ground, check out our other sponsor.
• 45:10
  These shows are only possible with your support.
• 45:13
  Thank you for all the Super chats, but also our sponsors
• 45:16
  like First Mining Gold. They've got a bunch of gold in
• 45:20
  Canada. We could see a new gold rush
• 45:22
  erupt in Canada. They have two of Canada's
• 45:25
  largest development stage gold projects.
• 45:29
  But wait, there's more. But those two projects alone,
• 45:33
  right? They each have 5 million oz
• 45:35
  Spring Pole in Ontario and Du Parquet in Quebec.
• 45:40
  They also own a number of other projects and I think somebody's
• 45:43
  yelling at me from upstairs. Hold on one second.
• 45:45
  Yes. And if you put on the Weber
• 45:48
  shades, he'll send you another super chat.
• 45:52
  OK, so apparently Craig Susie told me.
• 45:55
  Craig said if I put on the Weber shades that he would send me
• 45:58
  another super chat. All right, I'll put them on.
• 46:01
  I'm getting ready to wrap up, but I'll do it.
• 46:03
  Anything for you guys. Sorry, buddy.
• 46:10
  There we go. Welcome to Ron's basement.
• 46:13
  Now I really can't see anything. These feel crooked.
• 46:19
  So it's going to be an interesting week.
• 46:20
  I am optimistic. I can't see you now.
• 46:23
  So I'm just, I know what it feels like to not have good
• 46:26
  eyesight. This week is going to be
• 46:28
  critical for the silver price and the gold price.
• 46:31
  Why? Why?
• 46:33
  Because we're at a point where that base, right, that
• 46:37
  consolidation that's gone on could be how would I say it
• 46:41
  finalized, right? We could, we could find out this
• 46:45
  week if we are actually going to make the big run.
• 46:48
  I think this week is going to be pivotal.
• 46:50
  I think it's going to be absolutely pivotal.
• 46:53
  I don't want to be sitting here next week, you know, telling you
• 46:57
  that, oh man, we're trying to fight for 1850 gold.
• 47:01
  It can happen, right. We we're trying to stay above
• 47:03
  $21.00 in silver. I don't think that's going to
• 47:07
  happen. I do believe that we're going to
• 47:08
  make a run into the end of the year.
• 47:10
  I do believe that the consolidation, the base has been
• 47:14
  built very strong. So what I'm hoping is that next
• 47:18
  Sunday you and I are sitting here and we're talking about
• 47:22
  $2000 gold, right. We'll be fine either way.
• 47:26
  You know, we've been through. Hey, thank is that is that that
• 47:28
  super chat I was promised? All right, Greg, thank you.
• 47:32
  OK. But I do think that I do think
• 47:35
  that we have a good shot at moving into this record
• 47:38
  territory before the end of the year, right?
• 47:41
  We need to check in with Buddy Rumble and see what he says.
• 47:43
  Don't forget to go to the to the description of this video.
• 47:48
  Please enter into the giveaway, the big Black Friday giveaway
• 47:53
  and #1. And thank you guys.
• 47:56
  You know what? Let's take a second here.
• 48:02
  Well, I'm man, I'm losing it. Hold on.
• 48:05
  I can't see. Oh, yeah, 400 of you.
• 48:08
  Please. I want to see 400 people type
• 48:11
  the letter four or the number four.
• 48:14
  Thanks, Craig. You're awesome too.
• 48:17
  And that number four is for the moderators to tell them thank
• 48:21
  you. OK.
• 48:23
  They do a great job and and we're all grateful the entire
• 48:27
  community Sassy Silver, Jake Coin Shop Chris, Jim and Annie
• 48:32
  and our newest Sassy Silver. OK.
• 48:34
  The guys, they do a wonderful look at all that.
• 48:37
  Wow. Thank you.
• 48:39
  Now that makes me feel good. We got 400 people and you guys
• 48:43
  all type 4. Have a great day.
• 48:45
  OK, guys. And I'll see you soon.
• 48:47
  Thank you.