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🚨SCARY News! - This is SERIOUS... (and good for Silver and Gold) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Are we experiencing the death of paper silver?
0:05
Is the COMEX in the process of dying right now?
0:08
We're going to look at some compelling reasons why that very
0:11
well could be the case. The physical metal, physical
0:15
silver, physical gold are taking over from the paper markets.
0:20
It's incredible what we're going to look at today, guys.
0:23
But first, we have shocking news, disaster numbers about the
0:27
United States economy. And we're going to look at the
0:30
big picture. We're going to look at this from
0:32
a perspective that makes us very happy that we've decided to
0:37
protect part or all of our wealth with precious metals.
0:41
Because the numbers and what we're seeing, if we take a step
0:44
back and think about what we're experiencing ourselves, right?
0:48
What you're living every single day, but also now even the data
0:52
that we're getting, it's downright scary.
0:54
Let's get started on that right after I tell you.
0:57
Thank you for joining me down here in the basement.
1:00
Please hit the subscribe button. That way you'll get notified
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1:06
leave a comment in the comment section because we want to hear
1:09
from you. This is not possible without you
1:12
viewing and without you participating.
1:14
So thank you, thank you, thank you.
1:16
Let's talk about the big picture and why this is so great for the
1:20
precious metals. Here's what we learned this
1:22
morning. And people are calling this a
1:25
shocking, absolute, shocking report.
1:28
The jobs numbers came out out and it shocked with an
1:32
unexpected loss of 92,000 jobs. We're going to talk about why
1:36
that's so important. In February, as unemployment
1:39
rate also rise, rose rose risen. Economist surveyed by Bloomberg
1:45
had expected a job gain of 55,000 jobs.
1:51
That's almost a 150,000 job difference.
1:55
And then they go into all the details, which we're not going
1:57
to talk about because we got more important things to talk
2:00
about on this subject matter. We know the US economy is
2:04
nowhere near as rosy as they say it are.
2:08
I believe that we could actually be in a recession right now, but
2:12
I want you to think about what we just learned.
2:14
And then we got something really important to remember about that
2:18
number, but that the government is telling us that we lost
2:22
92,000 jobs on top of that guy. We have skyrocketing oil prices
2:27
right now in the world. The price of oil has gone from
2:31
about $62.00 a barrel up to the last time I saw a headline this
2:35
morning that it was at $90.00 per barrel.
2:39
Oil has gone up 3035% in a very short period of time.
2:43
And that's because we have a war going on.
2:46
So think about that. Jobs being lost, OK, Oil going
2:51
through the roof. Why is oil important?
2:53
Because oil is the life blood of the world economy.
2:58
Oil is the lifeblood of the US economy.
3:01
Oil also, when it skyrockets, puts pressure on inflation.
3:05
OK, so you got jobs being lost, oil going through the roof,
3:09
credit card debt. OK, Americans are in record
3:12
credit card debt. I think I saw that like like
3:14
accounts that are over 90 days past due or are higher than the
3:18
great financial crisis. Long term interest rates.
3:22
We're going to touch on this more later.
3:24
Have been going up when because of the war they should be going
3:27
down and on top of that we've got this national debt.
3:30
The whole point when you put it all together, what we can look
3:35
forward to, what will happen and I think could happen sooner as
3:39
opposed to later, possibly within the next three months is
3:43
money printing some form of monetization of the debt, some
3:47
form of the Fed or old friend, your own pal with the Federal
3:50
Reserve here. He is doing all that he need
3:54
knows to do do right on his last days as being Fed governor.
3:58
And that will be to print money. When they print money that makes
4:04
the value of that dollar go down and that makes the value of your
4:08
gold and silver go up. It makes you a very happy
4:12
basement dweller that you have part or a big part of your
4:17
wealth protected with gold and silver.
4:20
That's the big picture. Now there's something very
4:22
important we need to talk about, about the number that came out
4:26
this morning that came the the employment number comes from the
4:29
Bureau of Labor and Statistics. If you there's some suspicion,
4:34
speculation by people on Wall Street, very smart people, that
4:38
those numbers aren't always all that accurate.
4:41
I want you to think about it this way, right?
4:43
Believing the numbers that we get from the government about
4:46
things like inflation, GDP and jobs numbers, right?
4:51
Believing those is kind of like believing in a timeshare
4:56
salesman when you're on a vacation, like, you know, like
4:59
believing what they're telling you.
5:01
They're going to give the most rosy massaged vision of what's
5:06
coming out. And I'm talking about and
5:07
specifically the jobs number this morning.
5:10
So if that's the think about that, that's the best they could
5:14
do is say that the economy lost 92,000 jobs.
5:19
It's highly likely that things are much worse out there.
5:22
And let's look at some proof. Enough of me.
5:25
What happened? Let's go look at some proof
5:27
here. Another headline quickly, this
5:30
came from the New York Times. There was their their, their
5:35
news about the employers cutting jobs, but also gas prices are
5:40
up. It's everywhere we look.
5:42
I won't go down that that path again, guys, but things are not
5:46
looking good in the US economy. Oh, look at this.
5:48
I meant to share this couple days ago.
5:50
This is from the Kobesi letter that you think things are good
5:54
out there. I'm we're going to we're going
5:55
to run through this super quickly.
5:57
These are recent layoff announcements.
6:00
The US Government 300,000 Jobs UPS, Amazon, Intel, Nissan
6:06
20,000 Jobs Nestle, Microsoft, Bosh, Verizon, Dell, Accenture,
6:11
Ford, Novo Nordisk, Microsoft Price Waterhouse, Coopers, Dow
6:14
Chemical Block, Salesforce, Lufthansa Listen, IBM, American
6:20
Airlines, Paramount, Target, Conoco Phillips, General Motors,
6:23
Applied Materials, MasterCard, Kroger and Meta.
6:28
I know some people here in Saint Louis.
6:29
There's a big MasterCard facility in Saint Louis and
6:33
they're talking about everywhere.
6:34
Things are going to get crazy. But the thing, remember, if we
6:38
take a step back, all right, we can't control what goes on in
6:41
the economy, but what we can control is how we react to it
6:46
and, and, and what the government will wind up doing.
6:49
What the Fed will wind up doing is printing money.
6:52
That's all they can do. OK, All right, If they do
6:56
anything else, literally the whole system implodes.
7:00
And again, money printing will be good for your silver and
7:02
golden. After that.
7:03
Let's talk about the end of the Comex is the end.
7:07
Will we be having a funeral for the Comex for paper silver?
7:11
And you know what that'll mean for the price of physical
7:14
silver. Before we do that, if you want
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basement dweller. Make sure you use that discount
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code VIPRB. Let's talk about the end of the
8:15
of the Comex, maybe the end of paper silver all together.
8:18
We got a lot of data to cover. We're going to run through an
8:22
article here from Jensen Economics on Sub Stack silver
8:27
market leverage. Hold on here.
8:29
Now you can see it, Jensen Economic sub stack silver market
8:33
leverage, increasing distress at major silver exchanges.
8:38
We're going to go through the COMEX, we're going to go through
8:40
the LBMA and we're going to talk about China.
8:43
They talk about how the critical situation in silver right now
8:47
and that the physical market is taking over.
8:50
The physical market is also taking over the Fiat based debt
8:55
system that's been a temporary rarely kind of in charge here
8:59
for the last 50 years. But let's focus first on the US
9:02
silver market. Over the past six months,
9:06
registered silk registered silver stocks, the ones
9:09
available for delivery in New York bolts for the CME.
9:12
The COMEX silver futures market have been in blue declining at a
9:17
rate of 20 million oz per month and now stand at 88 million oz.
9:24
It's even lower than that now. Note that the the 20 million oz
9:29
a month vault draw draw down over six months represents the
9:33
pace of net silver withdrawals. That's the deposits less the
9:38
withdrawals from this vault category that is not relented
9:42
due to the increasing global shortage of physical silver.
9:46
Over the past four days registered vault stocks of
9:49
silver have seen 5694 March 2026 futures contracts almost 30
9:55
million oz Stanford delivery with a 1900 contracts for
9:59
9,000,000 ounces of silver still open for this month.
10:04
And then they talk about the shenanigans the available silver
10:08
the comex is getting to rock bottom lows.
10:11
OK, Remember that on February 25th the the COMEX shut down due
10:17
to a technical glitch. For 1.5 hours after trading was
10:21
reopened, it was announced that 31,800 contracts, 160 oz were
10:28
cleared magically while the market was quote UN quote
10:32
suspended or in glitch mode. We know as basement dwellers
10:36
what really caused the COMEX data center to go down was it
10:39
was overrun by a herd of bowls, silver bowls.
10:44
OK. This followed the day after
10:47
Thanksgiving, Black Friday, November 28th, 2025.
10:51
Multi hour suspension by the CME of the Comex, allegedly due to
10:56
server cooling issues. Even though it was like -5° in
11:00
Chicago at the time where the data center is located.
11:03
Nowhere there. No other users of the same data
11:06
center used by the CME Comex reported any slow down or
11:10
problems on that day. Again, it was just the the
11:14
servers that were in charge of of processing the the silver
11:18
futures markets. As the silver shortage problem
11:21
becomes more acute, the COMEX silver market is also having
11:25
increasing problems. Don't be prepared guys.
11:29
It's going to be interesting to see the the the reasons why they
11:32
come up with for shutting down the COMEX as we move into the
11:36
coming months. London silver, this is the LBMA.
11:39
The London silver market data published by the LBMA indicates
11:43
that oh, this is interesting. London Bolts held 226,000,000
11:47
ounces of silver at the end of January 2026.
11:52
That may sound like a lot, but wait, there's more.
11:55
Because however, London market trading seized for a period of
11:59
hours on October 10th of 2025 due to no London silver market
12:05
liquidity, despite the fact that 140 million ounces of silver
12:10
being in London Bolts at that time.
12:13
He says thus we can estimate that approximately 140 million
12:17
ounces of silver in London bolts is not available to the market
12:21
and it's simply in storage there.
12:24
So they had 140 million oz, but they still had to shut the
12:28
market down. This implies approximately 88
12:31
million oz. That's eerily similar to what's
12:34
at the COMEX registered of silver are available for
12:37
delivery in the London silver market.
12:40
The LBMA indicates that the London Silver market sees over
12:44
7, 780 million oz per day of trading and it's cash spot
12:49
silver markets on an active day. And again, he's estimating that
12:53
there may only be about 88 million actual oz available to
12:57
back all of that trading. Let's go to China.
13:01
China's two primary silver markets, the Shanghai Futures
13:04
Exchange and the Shanghai Gold Exchange.
13:07
The Shanghai Futures Exchange has open futures claims on 250
13:12
million ounces of silver and BALT stock of only 10 million
13:19
ounces of silver. So 250 million oz traded are
13:24
claimed, but only 10 million oz that's actually lower.
13:27
We're going to look at that here in a second.
13:29
While the Shanghai Gold Exchange has about 96,000,000 ounces of
13:33
silver claims with 14,000,000 ounces of vaulted silver
13:38
shenanigans, Shanghai exchanges have suspended dozens of large
13:42
silver trading accounts over the past few months as the global
13:46
silver shortage has seen China's exchange vault experience a draw
13:51
down to extreme levels. Details have not been
13:57
forthcoming. Now here's an easier way to look
14:00
at what we're just talking about from Hugo, and he shares with us
14:05
the Great Silver Drain, OK, at the COMEX, the Shanghai Gold
14:09
Exchange and the Shanghai Futures Exchange.
14:12
That yellow area that you see shaded on that chart coincides
14:17
with about October of last year, So again about 5 or 6 months
14:22
ago. That white line right there,
14:25
that's the COMEX inventory. That blue line right here that
14:30
you're following with my red line, that is the Shanghai Gold
14:34
Exchange and the green line would be the Shanghai Futures
14:38
Exchange. Guys, we are likely experiencing
14:43
at minimum major stress in the paper silver markets, but I
14:48
think it's a it's a safe assumption to say that we could
14:51
be experiencing possibly the extinction of paper silver of
14:57
make believe silver of what we like to refer to as fantasy
15:01
Island silver. We got wait a minute, hold on
15:05
one second. Excuse me, I didn't understand
15:09
you upstairs, Susie. Super.
15:13
Sticker. Oh, thank you.
15:14
Sorry to interrupt. Oh, you're fine.
15:17
You're fine. That's that's that's our friend
15:21
upstairs, Susie, my lovely wife and assistant.
15:24
Yes, for those of you who are new, she communicates via
15:27
walkie-talkie. She says hi and gives you a high
15:30
5 as well. And it's very important to her
15:33
that you subscribe to the channel.
15:34
So please do that. Now let's get back to more.
15:38
It's it's at the Comex. We got more that information
15:42
being provided to us in regard to the Comex and International
15:47
Stacker pointed this guy at this out.
15:50
Comex Silver open interest is also crashing.
15:54
Wait till you see volume data here in a second preliminary.
15:59
Easy for me to say. Data from March 4th 2026 shows
16:03
total open interest at close 112,000 contracts in yellow.
16:09
This is the lowest levels in over a decade since 2013.
16:16
OK, weak paper hands liquidated leverage longs flushed out.
16:22
Right. That open interest data is more
16:25
corroborating evidence to the fact that things are starting to
16:29
really die down at the Comex. OK, now on top of that, we've
16:34
got COMEX volume numbers to look at.
16:37
This came from goldfish chart. See him?
16:39
I'm sorry, what? What?
16:40
What? Oh, shoot, hold on here.
16:42
See if I can find. All right, darn it, the well,
16:46
the volume numbers are absolutely collapsing.
16:51
And hold on here, guys, we're having a little technical issue.
16:54
All right, we're back now. OK, I can see you.
16:57
Hopefully you can see me. The volume numbers are also
17:00
collapsing. Give me one second.
17:02
Give me one second. I'm going to pull this one up
17:05
first, OK. And then we'll come back to the
17:08
volume numbers. Interesting enough as well, the
17:11
CME lowered the margins, OK, on gold from 22% by 22%, I'm sorry,
17:19
from 9% to 7%. And on silver they just re
17:23
lowered the margins also by 22% from 18% to 14%.
17:29
Why is that a big deal? Because when the COMEX wants to,
17:33
wants to put the brakes on the precious metals markets, as you
17:36
know, that was always is one of their tricks they would pull and
17:40
they did it a lot over the last few months, raising margins,
17:43
raising margins. Now with lowered margins, that
17:48
may be a little bit at this point of a sign of desperation
17:52
coming out of the COMEX. Let's go see if we can get the
17:55
latest. Hold on here.
17:59
Hold on, we'll do this live. You can watch me struggle.
18:02
We're going to go to the dude, OK, because not only are they
18:05
lowering margins, not only is open interest coming down
18:08
significantly, but if I can find it here, here we go.
18:13
We found it. The actual volume of of of paper
18:17
traded is collapsing. OK.
18:20
Well, going down significantly, we know, right that what 234
18:26
weeks ago it was not uncommon to have 800,000,700 million, 900
18:32
million paper ounces of silver traded on the Comex now, right,
18:37
we've got 295 million, it's dropping, OK.
18:41
That was yesterday. The LBMA and that he talks about
18:44
looks to looks to have had 250 deliveries and the COMEX shows
18:49
0. Again, the market is coming to
18:52
an end with low physical inventories.
18:56
The value of paper silver contracts are going down, while
19:01
physical is going unobtainable, right?
19:05
And that's what we're seeing like we were.
19:07
So we're so trained to look at these COMEX and LBMA prices, but
19:12
the reality is, guys, that they're beginning to lose a big
19:16
part of their validity. And you know what?
19:18
While we're at it, let's go out here quickly and get an update
19:22
on the silver price, which looks to be up in the spot market by
19:27
$1.60 per oz at $84 per oz. Now let's go to the futures
19:33
market and see, OK, the futures market's up to dollars at 8425,
19:40
but again, something very suspicious when we look at those
19:44
numbers in the in the Western markets, the spot market in the
19:48
futures market had been strangely close in terms of
19:53
their price. The futures market is supposed
19:56
to be noticeably higher in price.
19:58
That's called contango. That's a normal state of any
20:01
market. What that means is is that the
20:03
spot price, which is the immediate price for supposed
20:07
immediate delivery of silver, should be lower than the futures
20:11
price because the futures price is for delivery of the metal.
20:15
In four weeks, six weeks, 8 weeks, whatever the date is on
20:18
that futures contract and because people have storage cost
20:22
and interest on, on that, on that gold or silver over that
20:27
period of time, the futures price should be higher.
20:30
But it hasn't been. It's been about equal, strangely
20:33
equal. And I think that shows that the
20:35
paper futures market is is is almost becoming make believe or
20:44
can you say more make believe? I think more make believe might
20:47
be the might be the the, the, the, the more accurate term.
20:52
We're going to go to China and look at their vault numbers.
20:55
It's in crazy what's going on there as well.
20:58
And then we're going to hear from our good friend Rashad and
21:02
a shocking piece of data out of China, another shocking piece of
21:06
data out of China about silver. Before I do that, thank you to
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Please remember, I'm not a financial advisor.
21:50
Don't make any financial decisions based on what I say.
21:53
Always do your own research and in in mining stocks, like any
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stocks can be risky. OK, let's head out to China,
22:02
man. It just does not end.
22:05
And here we go. Hold on here now, right now, I'm
22:12
going to bring you there. Sorry about that guys.
22:15
OK Chinese, this comes from make old grade again.
22:18
Chinese silver vaults only have 15 days left at today's drain
22:24
rate. Just four days of global mine
22:27
output. Comex registered registered
22:30
silver 91 days left at today's drain rate.
22:33
The western price $84. China is paying $98.
22:38
OK, they still can't keep the vaults full.
22:42
And that's the key take away here.
22:44
China is paying a massive, massive premium, right?
22:48
We just saw the western price $84.
22:51
China's price for silver $98. China's vaults are almost empty
22:56
even with a $14.00 per oz premium for silver.
23:01
They can't get their vaults though.
23:04
Someone knows something? And here's the proof of our old
23:07
friend Oriental Ghost. Right here is the silver price
23:12
in the Shanghai Futures Exchange, $98 and $96 in on the
23:18
Shanghai Gold Exchange. Think about that guys in China,
23:24
right, They're paying $14.00 per oz more for silver.
23:28
I forgot to, we're going to go back and look at the the vault
23:30
data. They're paying $14.00 more per
23:33
oz per silver and they and their vaults are getting drained.
23:38
It's very critical in China, based on what I'm seeing, right?
23:42
This is a very critical situation.
23:45
Let's go back out there and look at where their vault levels are.
23:50
Let's get rid of those. We don't want to look at that.
23:52
Those are the prices, at least in the in the West, we get,
23:56
we're getting a deal on silver. This is the Shanghai Futures
23:59
Exchange silver vault, as I've underlined for you, 255,000
24:07
kilograms. There's about 32 or so Troy oz
24:10
per kilogram. If you multiply that number
24:13
times 32, you're going to get to owe about 8,000,000 ounces at
24:19
this point. 9 million oz, OK. And in the Shanghai Gold
24:24
Exchange, it's just as critical. So, man, it is interesting times
24:30
in which we're living. But then we get this again from
24:33
the Shanghai Ghost. One of China's biggest banks,
24:39
the China Construction Bank, sells investment grade Panda
24:43
silver coin on its app right now for $137 per oz.
24:51
Why is that important? Because he notes that five years
24:54
ago I purchased a Silver Panda only at 167 Chinese yuan.
25:01
It's at 910 OK currently, but he bought 1 five years ago at 167
25:09
yuan. It has surged over 440 percent,
25:12
444% over that time period in Beijing.
25:16
Median free market prices are even higher.
25:20
Guys, it just doesn't end and you know, because we love him.
25:24
We love his optimism. We love his analysis.
25:27
We know that the silver price should be way, way, way higher
25:32
than where it is right now. Don't forget, we've yet to see
25:36
the silver squeeze. What we saw over the last 6-9
25:41
months was a silver squeeze, kind of a semi squeeze.
25:47
You know, like when you're questions and.
25:51
A community member. OK.
25:54
What's the question, Susie? How do you think the price of
25:59
oil going up will affect silver in gold?
26:01
Shouldn't just put the precious metals?
26:04
Up. Yes.
26:05
And Linda, yes. OK, Linda, I'm going to get your
26:09
question. OK, Linda.
26:10
Yes, we're going to talk about oil skyrocketing and what that
26:14
will do to the silver and gold price.
26:16
That's a great, great point. I'll get to that.
26:18
Yes, we've had a silver squeeze. We got to remember, don't get
26:23
mad at me for telling you this. We don't want the silver
26:27
squeeze, the real squeeze to happen anytime soon, OK?
26:32
Because silver just right now on its physical fundamentals has so
26:36
much higher to go, right? We want the silver squeeze to
26:41
happen maybe six months from now, maybe nine months from now
26:45
when the silver price has been steady at around $120.00 or
26:51
$150.00 per oz, even at $100 per oz, we want that platform from
26:57
which the squeeze occurs to be much, much higher.
27:00
I believe 100% percent, yes, right, that we're going to have
27:03
a silver squeeze. I'm more interested in long term
27:06
and even after that squeeze, right, the silver price will
27:10
consolidate at even a higher level.
27:14
We're going to get to Rashad and and talk about what he sees
27:17
happening in the near term with the gold and the silver price
27:21
more focused on silver. But before we do that, Linda had
27:25
a great question about the price of oil.
27:28
The price of oil going up will make inflation go up.
27:32
The price of oil going up makes the US dollar less valuable
27:38
because you know the amount of oil that you can buy right now
27:42
with one of these, which would be what about let's well, let's
27:45
say, let's here's a great way to think about it.
27:48
What about a two weeks ago, you could buy about 160th of a
27:53
barrel of oil with this. Think of a big barrel of oil and
27:57
you can buy 160th of it today because the price of oil has
28:02
gone up based on U.S. dollars. If you're using the US dollar,
28:06
you can buy only 190th of a barrel of oil.
28:11
You feel it? I feel it every day, right?
28:13
I just drove by my local gas station last night.
28:17
Gas was $2.60 just what, a week ago?
28:21
Basically now it's $3.10. My dollars are becoming less
28:28
valuable. When, when, when you're when
28:30
you're looking at oil. Oil, because oil is the
28:34
lifeblood of the world economy. When the price of oil goes up,
28:39
it has a major impact on inflation at the end of the day,
28:45
right? When all the little noise is
28:47
filtered out, when inflation goes up, that is absolutely a
28:52
positive for the gold and silver price.
28:55
There might be some noise in between, right?
28:57
But if you look at it on a long term basis, and I think the
29:00
price of oil will only continue. I, you know, we, we may, we may
29:05
never see $60.00 oil again. I could be dead wrong, but I
29:09
hope that answers your question, Linda.
29:11
Now let's go take a look at Rashad and then we got even more
29:14
to cover. Hold on one second here Mr.
29:17
Rashad. I love his analysis.
29:21
Good, good, good guy. I believe in very good times for
29:24
the precious metal sector in is just around the corner.
29:28
Once the present declining cycle ends.
29:32
We are in a bit of consolidation here, which I believe is either
29:35
done or about to be done. An impulsive advancing cycle in
29:40
metals and miners is going to be the case.
29:43
Just as previously one could see in the example of junior miners
29:47
SILG. So here he is looking this is
29:50
the SISILJ, this is the the silver miners and the silver
29:55
miners will strongly and generally move in the same
30:00
direction as silver and gold as well.
30:03
And what he's talking about here you can see right we've had
30:06
consolidation phases, consolidation phase here,
30:10
consolidation phase here that we're in right now.
30:13
And he foresees a big move up. Let's pull up the silver chart
30:18
here real quickly. Get that on the screen for you.
30:21
This is the silver futures chart for May.
30:26
OK, so this is the Comex for May, still up about $2.00 and
30:32
we're looking at a six month. Let me get the markers out.
30:35
This is a six month chart, OK now, right.
30:40
Remember that was the big, that was not a squeeze, that was a
30:43
squeeze and kind of a little parabolic move at the end.
30:48
What I want you to, what I want you to focus on, All right, is
30:52
that basically here we have been get the lines, there we go.
30:57
We have been consolidating in this area ever since, OK, let's
31:04
say about oh, 75 and we popped up here in the 95.
31:10
If we can continue to consolidate in this area, which
31:13
I think we will, I'm getting more and more optimistic that we
31:16
can consolidate. And as long as it goes, we're
31:20
fine. OK, guys, we got $84 silver.
31:23
We got $75 silver. Think back a year ago right now
31:28
when we were down here in the basement together, basement
31:30
dwellers and we had $34 silver, we had $32 silver, right?
31:36
A year later, we've got silver, more than double the price.
31:41
If we can consolidate here for a while.
31:43
And why do we want to consolidate?
31:45
Because anything that goes straight up, straight up,
31:47
straight up always has major corrections.
31:50
If we can consolidate here. And what consolidation achieves
31:53
is the short timers, the people that aren't really wanting to
31:57
invest in silver on a long term basis, They give up, they say
32:01
goodbye. The new people or the existing
32:04
people who buy more come in who've got a lot more
32:08
conviction. It builds a solid foundation.
32:11
It's all a market of buyers and sellers.
32:14
So when you when you when you weed out all the we cans, maybe
32:18
some of one of those people who just temporarily joined us or
32:24
the short, short term traders, they get replaced by people that
32:27
believe in the long term story, the long term thesis of silver.
32:32
And it builds the space from which we can go much higher.
32:36
And eventually we will get that long sought after squeeze, which
32:41
could bring us the levels that we just sorry guys that we just
32:46
only dream about at this point. I want to go out and say thank
32:49
you. Looks like we got a super chat
32:51
from Renee. Renee.
32:54
OK, hold, hold on. I want to say thank you.
32:56
And then we're upstairs. Susie has something she wants to
33:00
say. OK, but Renegade designer,
33:04
hopefully I'm pronouncing that properly my eyesight.
33:07
Yes Renegade Designer 8643, I'm loving what you do.
33:11
Thank you. I love you.
33:12
I love the people in this community.
33:14
All right, it makes it fun to be able to be down here in the
33:16
basement and spend this time with you.
33:18
Now we're going to go in with the real boss of the basement,
33:22
Spot silver Susie, OK, Cuz she only looks at the spot price and
33:27
see the question. Hold on here.
33:30
Spot silver. Spot silver.
33:33
Susie, do you have a question over yes.
33:38
Francis would like to know, considering what's been
33:42
happening, if you had to take a guess, what do you think the
33:45
eventual full price of silver would be?
33:49
Yeah. OK, OK.
33:51
Thank you, Spot Silver, Susie Francis, that's a great
33:56
question. I kind of just talked about it,
33:58
but since I love to repeat myself, I'll say it.
34:01
I think the number that comes to mind, the floor, OK, that I
34:06
would say. And look, nobody has a crystal
34:08
ball, you know, all that good stuff.
34:10
But the floor based on I look at charts, I'm I'm I'm constantly
34:15
analyzing. I've been doing it for decades.
34:18
My gut feel, given everything that's going on in the world.
34:21
You got to think about things like the war that's happening,
34:24
the uncertainty, right? The level of debt in the world,
34:27
the fact that the US economy is kind of in the pooper right now
34:30
in the see that right there. I may not know that, but right
34:34
behind my head I've got a toilet seat hanging.
34:36
Some people might say that's because I'm full of you know
34:39
what? But anyway, when you consider
34:40
everything going on, but kind of the the like, the like, I would
34:45
be very surprised. Francis, if the price of silver
34:49
gets below $72, I'm thinking that we're going to build this
34:54
base and that 75, I'd love it to be 85 range, no doubt about it.
34:59
If it gets below $72 per oz, I personally maybe start to get a
35:04
little concerned. If it gets below $66 per oz,
35:08
which I think there's maybe like a 1015% chance of that
35:12
happening, then I get a little more concerned.
35:15
I give up, I surrender, right? I zip my lips and I and I come
35:21
on here and eat crow and, you know, nothing's out of the realm
35:24
of possibilities, but I just can't see silver getting into
35:29
the 50s again. I really, really can't.
35:32
So hey, guys, I think we're in for a great time ahead.
35:36
And I mean, where else? I had this conversation with
35:39
some very intelligent people, very credentialed people in the
35:43
world of investing that know a lot about what's going on in the
35:46
financial world. And we almost always come to the
35:49
same conclusion. It's because we'll talk about
35:52
people say, like Ron, when are you going to sell your silver?
35:56
When are you going to sell your mining stocks?
35:57
I'm like, I don't really ever sell them.
35:59
I don't have any plan because of this key critical thing when I
36:05
evaluate other places where I I don't, I don't want U.S. dollars
36:09
or you going to sell silver and gold and what are you going to
36:12
get? You want these, huh?
36:13
I mean, really, where is it really, huh?
36:16
Let's let's do a little silver show and tell.
36:20
Isn't it beautiful? I mean, look at that.
36:23
Honestly. You're going to trade that for
36:25
the, the some of this stuff? Are you kidding me?
36:31
You know, the available options are we am I going to put money
36:35
into the stock market into like Apple stock?
36:39
No, right. That the outlook for the
36:41
precious metals, I think remains so crazy, crazy optimistic.
36:46
The other thing that encourages me is you OK, Because remember,
36:51
I used to have it. I've got it.
36:52
I'm going to show it to you for a second.
36:54
The people that are in Ron's basement, the basement dwellers
36:58
are some of the smartest people out there, right?
37:01
The love of analysis, right? The level of, of willingness to
37:06
dig in and learn and look at the big picture.
37:09
And I just believe what CNN tells me, right?
37:13
That kind of stuff, No, but people who are willing to dig
37:17
in, do analysis and do it in an objective way, do it not inside
37:21
a bubble. I love when people disagree with
37:23
me. It gives me an opportunity,
37:25
gives us an opportunity to learn.
37:27
But the fact that the smartest people in the room, you know,
37:31
think about some of the people that are in precious metals,
37:33
Rick Rule, Andy Scheckman, Keith Newmeyer, the list goes on and
37:38
on. Lynette Zhang, David Hunter, I
37:41
mean, these are smart, you and me.
37:43
And I'm going to prove it to how smart you are right now because
37:46
get this right. Look, as a, as a quote UN quote,
37:50
relatively successful YouTube content creator, I get all kinds
37:54
of information provided to me from Google, who owns YouTube.
37:58
And look what they said when they analyzed my audience.
38:02
It's right here, it's highlighted, it's highlighted
38:06
that yellow part, but I'm going to read it to you.
38:09
It says you can tell this to your partner later today.
38:15
Spouse whatever your your audience in Rons basement is
38:20
highly sophisticated focusing on the underlying mechanics they
38:26
believe are driving the market. The underlying mechanics trying
38:31
to piece thing not trying piercing things together.
38:34
This goes beyond simple price action and points to A to a
38:39
desire for deep dive analysis. When you got all the smartest
38:44
people together, right, helping each other and coming to the
38:48
same basic conclusion, guys, that makes me feel great, great,
38:52
great about what's what's going on right now in the world of
38:56
precious metals. I feel even greater to know you
38:59
and I feel really honored that you join me down here in the
39:02
basement. I'd love for you to come back.
39:04
Don't forget to subscribe. Thank you so much.
39:07
Have a great day and I'll see you and yes, I see you.
39:11
You're important, you're special.
39:13
I'll see you next time. Have a great day and bye bye.