Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / I Warned YOU! 🚨 SILVER Price and Gold Quaking on THIS NEWS!

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I Warned YOU! 🚨 SILVER Price and Gold Quaking on THIS NEWS! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  We're going to be okay. Silver and gold investors,
• 0:04
  congratulations, you survived. The biggest Newsday of the year
• 0:09
  so far for the precious metals sector.
• 0:12
  The big August jobs number came out.
• 0:14
  We're going to touch on that briefly, but what we really want
• 0:16
  to talk about here is some shocking news about silver.
• 0:20
  I've got more data coming out. Listen to an intriguing
• 0:23
  conversation last night. I want to share that with you in
• 0:26
  this video. But let's just briefly talk
• 0:28
  about these jobs numbers. Of course, everything came in
• 0:32
  just right. Did you notice that, Gee whiz,
• 0:35
  it's an election year. But the jobs numbers here, let's
• 0:38
  go out and dig in briefly into what they're telling us and then
• 0:41
  kind of tear it all apart because I think there's a lot to
• 0:45
  learn under the surface. We'll go to Zero Hedge.
• 0:48
  First, the June payrolls miss. So that was good for precious
• 0:54
  metals, right? Fewer jobs created than
• 0:56
  expected. August payrolls number came in
• 0:58
  at 142,000, a small miss to the estimate of 165,000.
• 1:05
  But of course, because by dynamics is working, the
• 1:08
  unemployment rate actually dipped from 4.3% to 4.2%.
• 1:15
  Now, the big take away here is that these numbers could be
• 1:18
  better, but certainly not bad enough to trigger A50 basis
• 1:23
  point rate cut by the Fed in the next two that'll be two weeks
• 1:27
  from now the next time the Fed has a major announcement.
• 1:29
  So but what's interesting about this is again is again that the
• 1:37
  numbers for the previous months were revised.
• 1:40
  OK, so I, I like the, I, I wonder if like over at the
• 1:45
  Bureau of Labor and Statistics, they have like buy one, get one
• 1:48
  free coupons around because every single month the number
• 1:53
  they put out is, is always revised down in the subsequent
• 1:57
  two months. So really that number we heard
• 2:00
  today, what was it 165,000? I mean, in reality we could like
• 2:04
  say well it's probably closer to 100,000.
• 2:08
  I mean because every single month they come when they put
• 2:12
  out the new numbers, they revise back or revise down the previous
• 2:16
  month numbers. Here I'll just read this from
• 2:17
  Zero Hedge as it's become the norm.
• 2:20
  Both previous months were were revised sharply lower.
• 2:25
  So once again, expect the August print to suffer the same fate.
• 2:28
  Specifically, the BLS said that the payroll print for June was
• 2:33
  revised down by 61,000 jobs, from 179,000 to 118,000, and the
• 2:42
  change for July was revised down by 25,000.
• 2:46
  OK, that marks 4 consecutive job prints that have been revised
• 2:50
  lower, or six of the past seven. I want to go back up and look at
• 2:55
  this, draw your attention to this.
• 2:56
  I think we're in a recession right now, guys.
• 2:59
  I don't know how you feel about that, but if we just look at
• 3:03
  this, this is a chart that shows the job.
• 3:06
  Job creation goes back to what, June of 2022?
• 3:11
  And if you look at this chart, let's draw a line on here.
• 3:17
  Do you see what I see? Right?
• 3:23
  Do you see this? Let me move this out of the way,
• 3:28
  right? Job creation is going down,
• 3:31
  down, down, down. So that's the big news of the
• 3:35
  day, right? We're going to, we're going to
• 3:36
  talk about some shocking news regarding silver, but basically
• 3:41
  everything came in just right. And when we look at the jobs
• 3:45
  numbers that were reported today, we know they're going to
• 3:48
  be revised down lower. What do we know about the
• 3:51
  unemployment rate? I mean, that's even more of a
• 3:53
  joke. The way that they calculate that
• 3:56
  labor participation rates, everything else, it's all a big
• 4:00
  joke. We are in a recession right now.
• 4:03
  Now, what would indicate that to us?
• 4:04
  This, this is truly a eye opening, which was a recent
• 4:09
  report. Not from the government, right?
• 4:11
  No, not from the government. Here from CNBC In Challenger,
• 4:17
  layoffs jump in August while hiring in 2024 is at a historic
• 4:25
  low, Not low, not lower. A historic low.
• 4:33
  Layoffs soared in August, hitting their highest total for
• 4:37
  the month in 15 years, while year to date hiring hit the hit
• 4:43
  hit the lowest in the 19 years of a Challenger Gray in
• 4:47
  Christmas survey. Wait, what does that say?
• 4:50
  While year to date hiring hit the lowest.
• 4:53
  Wow. In the 19 years.
• 4:56
  Wow. So August was the worst month in
• 4:59
  15 years and year to date, it's the worst in 19 years.
• 5:03
  But somehow the unemployment rates only 4% and the jobs
• 5:07
  numbers are great and by dynamics is working OK.
• 5:11
  The report showed the biggest growth in plan layoffs came in
• 5:15
  the technology field with companies announcing 41,000
• 5:20
  cuts, the most in 20 months. And then let's just go out here,
• 5:23
  layoffs or in August hitting their highest total 15 years.
• 5:27
  While year to date hiring reached historic low, announced
• 5:31
  job cuts totaled 76,000 for the month, lurching 190 percent,
• 5:37
  193% higher than in July. The year to date hiring
• 5:43
  announcements of nearly 80,000 is the low.
• 5:47
  So companies announcing they're going to hire people, right?
• 5:49
  80,000 jobs is the lowest total in the history going back to
• 5:55
  2005. Wow, wow, wow.
• 5:59
  There's also the recent data from ADP, which showed the
• 6:02
  economy slowing. Guys, things are slowing down.
• 6:04
  Let's go check on the gold and silver market and then I want to
• 6:07
  share with you. Oh, shoot, there we go.
• 6:12
  All right, let's go out and take a look at the gold and silver
• 6:17
  market. All right, we're going to do an
• 6:18
  update here. This is not up-to-the-minute, so
• 6:21
  let's press the button and all right, We're down $1112 in gold.
• 6:27
  We're still above $2500 gold. Take a breath.
• 6:31
  OK, these numbers that came out this morning, two things about
• 6:36
  them. Number one, they were fudged the
• 6:38
  jobs number, right? Buy one, get one free at the
• 6:41
  Bureau of Labor and Statistics. No doubt about it #2 they came
• 6:47
  in just right. What is that?
• 6:50
  That little Goldilocks, right? Everything was just right, just
• 6:54
  perfect. So we know that the reality is
• 6:57
  something different. Wow, Silver's taking it on the
• 6:59
  chin down $0.25. All right, guys, hey, thank you.
• 7:03
  While we're here, let's say thank you to channel sponsor
• 7:05
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  Do your own due diligence, read other people's reviews, but
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  please just throw them into the mix next time you are
• 7:54
  considering buying some precious metals.
• 7:55
  And if you ever, I'm going to preach for a second, if you ever
• 8:01
  please, please ever consider converting part or all of an IRA
• 8:07
  to gold or silver. Take your time, shop around,
• 8:11
  talk to a number of different OP, you know, companies that
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  offer that. And please talk to the people at
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  Pembex. And please, at the end of the
• 8:19
  day, what really is critical to consider is how many actual
• 8:23
  ounces of silver and gold you're getting for the amount of money
• 8:27
  that you're converting. All right, where were we?
• 8:31
  Let's talk about shocking silver news.
• 8:33
  I listened to a conversation last night.
• 8:35
  This was, to me, a bit mind blowing.
• 8:38
  This guy wrote the book Peter Kruff, right?
• 8:42
  The great silver bowl. Many of you know it.
• 8:44
  Wonderful book. He's a silver guru.
• 8:47
  He was on with Chris Marcus on Arcadia Economics.
• 8:51
  I wrote down some notes. I heard some things that I think
• 8:54
  US silver investors can be extremely optimistic about, OK,
• 8:58
  Even on a little day like today where the price might be going
• 9:01
  down, right? Remember, markets go up.
• 9:04
  Markets go down. The trend is up OK.
• 9:08
  The inventories at the COMEX and the LBMA have been drained by
• 9:13
  about 70% over the last three years.
• 9:19
  OK in two, this is this was crazy.
• 9:22
  In 2019, it was estimated that we had 165 year supply of
• 9:29
  silver, right? So because back then there
• 9:32
  wasn't a silver deficit, there was a little more silver, right,
• 9:36
  that would make sense being produced than was being
• 9:39
  consumed. So it was estimated that we had
• 9:42
  165 years supply. But now four years later, the
• 9:47
  estimate has been crushed. Now they're saying that we could
• 9:50
  only have two years supply of silver.
• 9:55
  That's because that above ground silver, that silver slush fund
• 9:58
  that four years ago was having silver added to it is now being
• 10:03
  drained and being drained at a very, very fast rate.
• 10:07
  OK, so now we've gone from having an estimate, excuse me,
• 10:13
  of 165 ounces of silver or 165 years worth of silver down to
• 10:20
  two years worth of silver. Think about that.
• 10:23
  Think about that. OK, there, there's and that's
• 10:29
  because the demand is exploding and we have the deficit.
• 10:32
  This is only looking at the big exchange data.
• 10:35
  These are my notes. OK, And warehouses, there's that
• 10:39
  other silver out there, the silver that's held by investors.
• 10:43
  But think about it, that silver, and I'm talking to you and I'm
• 10:46
  talking to myself. You know, that's our favorite
• 10:49
  person to talk to ourselves. Our silver's not for sale, not
• 10:53
  at these prices. Our silver's really never for
• 10:56
  sale for paper Unicorn fart dust, Fiat dollars.
• 11:00
  We might convert it at some point.
• 11:03
  Silver price in dollars goes to like 6-6 or triple digit, right?
• 11:09
  Right, $100 silver, $150.00 silver.
• 11:12
  But again, that's only looking at the data from the like the
• 11:15
  Comex and the LBMA and the amount of silver in those
• 11:18
  warehouses and including the Shanghai Gold Exchange is going
• 11:23
  down, down, down. Chris Marcus said that he thinks
• 11:27
  that that he thinks there's been about 3 billion ounces of silver
• 11:32
  that had been sold to retail. I don't know over how many
• 11:34
  years, but roughly that sounds about right.
• 11:37
  Americans right now are selling their silver.
• 11:40
  OK. And I'm going to be talking with
• 11:42
  coin shop Chris here a little bit later about what he's seen
• 11:44
  at the at the coin shop. But it is proposed that a lot of
• 11:50
  that silver that Americans are selling back is being melted
• 11:56
  down. There's this possibility, real
• 11:58
  possibility, it's being melted down and shift over the places
• 12:03
  like China and India to help satiate this unquenchable thirst
• 12:09
  for silver that these countries have that's only going to last
• 12:14
  for so long, right? And at this point, we got to
• 12:18
  remember we're in a battle for $28.00 silver right now.
• 12:23
  Guys, we are in a battle. Let's go out and do an update.
• 12:26
  I'm a little concerned about the silver price after what we just
• 12:29
  saw. Let's press the pin backs magic
• 12:32
  button. OK, It's gotten better.
• 12:34
  Thank you. I knew it would.
• 12:36
  Silver only down $0.16. All right, we're going to come
• 12:39
  back. We're going to get silver green
• 12:41
  by the end of you guys think we can get silver green, right?
• 12:44
  Silver and the positive by the end of this, by the end of this
• 12:48
  live stream, I think we can. If you think we can get silver
• 12:51
  to green, let's do it, baby. Let's do it together.
• 12:54
  Basement dwellers type green in the comments.
• 12:57
  I just put my money where my mouth is and I'm going to have a
• 13:01
  quick sip of coffee. Don't go anywhere.
• 13:03
  I'll be right back. OK, I'll be right back.
• 13:12
  I think the Kansas City Chiefs won last night.
• 13:15
  I'm not a big football fan, but I live in Missouri and since we
• 13:18
  don't have a football team here and I got my Chiefs red shirt on
• 13:21
  by accident. Nonetheless, the Chinese
• 13:24
  refiners are still desperate for silver.
• 13:28
  Peter Carruth was talking about how the Chinese refiners are
• 13:33
  making it very easy for Mexican miners offering like big
• 13:38
  premium, big premiums, basically like on the ore, they're making
• 13:42
  it super easy to get that silver shipped from Mexico over to
• 13:46
  China. And you know what's going on
• 13:48
  with India as well. I mean, my gosh, guys, some
• 13:51
  people are saying that India could import somewhere between
• 13:54
  200 million and 250 million ounces of silver this year.
• 14:00
  Are you kidding me? It's like 2530% of the entire
• 14:04
  world's mine output. I digress.
• 14:08
  We simply are not going to see more silver coming to the market
• 14:14
  until the prices are higher. That's just the reality of the
• 14:18
  world that we live in right now. Now let's go look at next.
• 14:24
  We're going to look at some visuals that are going to blow
• 14:26
  you away about some pictures, OK, that are going to blow you
• 14:30
  away about what's going on right now in the silver market.
• 14:33
  But before we do that, I need to have a word with you.
• 14:37
  I just want to tell you I appreciate you joining me here
• 14:40
  in the basement this morning special because we are going to
• 14:43
  get the silver price green through the magical basement
• 14:46
  dweller powers. We're going to go back and check
• 14:48
  in a second. But on a serious note, we
• 14:51
  appreciate you coming here. It's a big deal.
• 14:53
  Most important, I want you to feel like you found a little
• 14:56
  home away from home, like you're part of a group, a group of
• 14:59
  people who love silver and gold and love each other, or at least
• 15:04
  like each other. So many people have made great
• 15:06
  friends. Your comments matter.
• 15:07
  Please leave a comment in the comment section.
• 15:10
  Please subscribe to the channel. We're getting close to 40,000
• 15:13
  subscribers. It's just, thank you, Susie.
• 15:16
  It's just a number, but still, but still, it's an important
• 15:21
  milestone for the channel and we already have 100 likes, which
• 15:23
  means ten rings of the bell. And when we get to 200 thumbs
• 15:31
  up, we will ring the cowbell. So thank you.
• 15:35
  All right, this is not Ron tube. It's YouTube.
• 15:38
  You are important. Don't forget that your thoughts
• 15:40
  matter. We really do want to hear from
• 15:43
  you. I'm going to talk about some of
• 15:44
  the comments. We bring up a well viewer
• 15:46
  comment during every live stream.
• 15:49
  OK, let's go look at some stunning silver visuals.
• 15:53
  These come this came from one of you from our friend Mark, who is
• 15:58
  a basement dweller. Let's see if I can get the right
• 16:01
  1 here it is. I'm sure we got that up OK this
• 16:05
  comes from visual capitalist. Wait till you see this guy's.
• 16:08
  This puts it in pictures. You don't want to just watch me
• 16:11
  talk or listen to people talk. This shows you in pictures.
• 16:14
  What is going on in the silver market right now?
• 16:17
  I'm going to have a video coming out about this too in a few
• 16:20
  days. But silver's the unsung hero in
• 16:22
  the new economy. In 2023 alone, the silver market
• 16:28
  experienced a 15% supply deficit.
• 16:32
  So that whole circle, that whole pie is the amount of silver that
• 16:36
  was demanded by the world. This dark part right here that
• 16:40
  represents the deficit, that represents the amount that the
• 16:44
  world could not supply. That represents the amount that
• 16:48
  came out of the warehouses at the COMEX and the LBMA that that
• 16:54
  that came from people giving up on silver and selling their
• 16:57
  their silver. I know that's not you guys.
• 17:00
  That is a big chunk of that pie and it is growing.
• 17:05
  Here's another way to look at this, the silver supply and
• 17:09
  demand gap. So the dark color is the total
• 17:13
  demand. I'm sorry, the lighter color is
• 17:16
  the total demand. The darker are the lighter, I
• 17:20
  guess you would say shaded part, whatever the Gray part is total
• 17:23
  supply. So if we go down here and take a
• 17:25
  look, OK, starting in 2021, you can see that demand outweighed
• 17:32
  supply by that much. 22, it grew bigger, 23, it got a little bit
• 17:38
  smaller, but still significant in this year, which has not yet
• 17:42
  been finalized. But we also are on track for a
• 17:45
  major. That's the deficit.
• 17:47
  That's another way to look. This is going on this, but back
• 17:51
  here, like we talked about earlier in 2019, as you can see,
• 17:55
  right, the supply was as big as and probably greater than the
• 18:00
  demand. That's why back then they were
• 18:02
  saying we got enough silver for 165 years.
• 18:05
  Now that this has happened, OK, And remember these COMEX, LBMA
• 18:10
  and even the Shanghai Gold Exchange vaults, they're like
• 18:15
  down by sixty 7080%. Now that this has happened.
• 18:19
  We went from 2019 with 165 years supply to now where they're
• 18:25
  saying we have two year supply. But wait, there's more silver
• 18:28
  lovers. Silver is essential in new
• 18:31
  technologies. See if I can get this to move
• 18:38
  OK, in 2025, that'll be next year.
• 18:44
  Renewables are expected to generate more electricity than
• 18:47
  coal. I didn't know that was solar
• 18:50
  meeting half of a global demand growth over 2024 and 2025.
• 18:57
  That means that solar electricity is now going to be
• 18:59
  providing more than half of the demand growth for the next two
• 19:03
  years. And if you look down here at
• 19:05
  this pretty solar panel, it shows right the amount of silver
• 19:10
  used in 2022 in solar panels 118 million twenty 393,002,020 four
• 19:20
  232,000,000 ounces. And growing solar demand in 2024
• 19:30
  is expected to account for 23% of total silver supply.
• 19:36
  Where did that come from? Right to almost almost 1/4 of
• 19:42
  the silver that's going to be supplied to the market this year
• 19:46
  is going to be consumed by solar.
• 19:49
  OK, this, this talks about all these different things that have
• 19:52
  solar in it, nanoparticles for clothes, EVs, you know the big
• 19:56
  news about the new Samsung solid-state.
• 20:00
  So I call it the Samsung Solid-state Silver.
• 20:03
  Save your battery. The battery that weighs half as
• 20:06
  much, the battery that lasts twice as long, the battery that
• 20:10
  takes a fraction of the time to to charge, the battery that's
• 20:15
  way safer than the current batteries used in electric
• 20:18
  vehicles. And on top of that, the battery
• 20:22
  that has nearly one kilogram of silver in it.
• 20:26
  I digress. Used in airplanes.
• 20:28
  Everything else. This is what's interesting, very
• 20:33
  interesting. The average cell phone contains
• 20:37
  .34 grams of silver. And think about it this way.
• 20:42
  That means that for every 100 cell phones, that's 30.4g of
• 20:49
  silver. For every 100 cell phones,
• 20:52
  that's nearly one ounce of silver.
• 20:56
  For every 100 cell phones, do you know how many cell phones
• 21:00
  there are in the world? Think about it.
• 21:03
  OK, think about it. Silver improves everything, and
• 21:06
  I mean everything that it touches.
• 21:08
  This was interesting. We hear this all the time, but
• 21:11
  to see it graphically. Silver supply by source, hold on
• 21:19
  here. Over 70% of silver is mined as a
• 21:23
  byproduct of gold, copper and other metals.
• 21:27
  Only 28 percent is from primary silver mines.
• 21:32
  Now you might be thinking, well, what's the big deal about that,
• 21:34
  Ron? Well, that is a big deal because
• 21:36
  when the silver price skyrockets, right when there's
• 21:39
  two year supply that Peter Kurath talked about the other
• 21:43
  with it in his conversation with Chris Marcus.
• 21:46
  When that two year supply runs dry and people are looking for
• 21:50
  silver, these companies that are lead miners and gold miners and
• 21:54
  copper miners, silver is still an afterthought to them.
• 21:58
  They aren't going to be able to turn on massive new supplies of
• 22:02
  silver. And we also know we won't go
• 22:04
  down this dirty path, but we also know guys, that the silver
• 22:09
  mining industry has been neglected and and not had any
• 22:14
  real material investments made into it for decades.
• 22:18
  So in terms of new silver mines that are in process, there's
• 22:22
  very few very slim pickings. It we could set up a really
• 22:26
  crazy environment just to show you where the top silver
• 22:30
  deposits are in the world right now.
• 22:32
  Number one, I think that's China Prognos.
• 22:35
  I don't know what happens if I click on it.
• 22:37
  I'm afraid to click on it. I don't want to click on it.
• 22:39
  God knows where we might go. Poly Metal resources #2 is
• 22:46
  Outcrop Silver, which I think is the company that put, yes,
• 22:49
  Outcrop Silver, put all these graphics together so they have
• 22:53
  the the second biggest is that Columbia, I believe Outcrop
• 23:00
  Silver deposit known as OK yeah, in Columbia #3 is the stock I
• 23:06
  own Dolly Varden Silver. They've got massive silver
• 23:10
  deposits in Canada. British Columbia #4 is Visla,
• 23:15
  which I believe is Mexico. I don't know a lot about Visla.
• 23:19
  Obviously, Mexico is challenged right now.
• 23:22
  Mexico's like doing everything they can to discourage companies
• 23:27
  from mining for silver in Mexico.
• 23:30
  And #5 is BlackRock Silver. Another company that I own, they
• 23:34
  just put out Apea Report there in Nevada.
• 23:38
  Very interesting. It's the Tonopah District, and
• 23:42
  again, they're a development stage company, but they own half
• 23:45
  of this Tonopah district and it was actually a part of a massive
• 23:51
  mining project that was owned by Howard Hughes.
• 23:53
  So anyhow, guys, wow, 500 people.
• 23:58
  Thank you, basement dwellers. Thank you each and everyone of
• 24:01
  you for being here. And we got more shocking news to
• 24:04
  talk about with silver. Believe it or not, it just keeps
• 24:07
  coming. OK, well, let's go check this
• 24:11
  out. This also came from our friend
• 24:12
  Mark. When we talk about solar, we
• 24:14
  don't think of solar in the United States as being a big
• 24:17
  deal. But let's just touch on this
• 24:19
  real quickly. This came from PV magazine, the
• 24:23
  Bureau of Labor. I'm sorry, the Bureau, the
• 24:26
  Bureau of Land Management, not the BLS, right?
• 24:30
  That gave us those great job numbers this morning.
• 24:32
  But the BLM, the Bureau of Land Management releases plan to
• 24:37
  develop solar on 31,000,000 acres of western United States
• 24:43
  land. I won't read all this, but I I
• 24:46
  highlighted a few things. They put out their proposed road
• 24:50
  map for solar energy. This is an America OK proposed
• 24:55
  update. Western solar plan blah, blah
• 24:57
  blah. Developed solar in Arizona,
• 25:00
  California, Nevada, New Mexico and Utah.
• 25:02
  Most recently was also expanded to include Idaho, Montana,
• 25:06
  Oregon, Washington and Wyoming. I got something I'm going to
• 25:09
  share with you. Oh, thank you.
• 25:14
  OK, I will. I'm going to ring the bell here
• 25:15
  in one second, guys, we have 200 thumbs up.
• 25:17
  We're having a party and we're on a mission, basement dwellers,
• 25:21
  to get the silver price green by the end of this, by the end of
• 25:25
  this live stream. If we do that, I'll blow the
• 25:28
  train whistle, OK? It's been a while.
• 25:31
  So they're massively expanding. They've been they're improving
• 25:35
  the permitting process. The solar permit process is one
• 25:37
  of the greatest bottlenecks, OK? And they are, they have a goal
• 25:43
  of achieving A1 hundred 100% clean electricity grid by 2035
• 25:50
  and they're surpassing, they're putting out permits.
• 25:52
  So so I got something I want to tell you about solar that
• 25:55
  nobody's talking about. Well, thank you Daniel Silver's
• 25:59
  atomic number. Thank you for that super chat.
• 26:01
  And while we're at it, I got something crazy that I want to
• 26:05
  share with you guys about solar. This is a Ron's Basement
• 26:08
  original. Feel free to use it for
• 26:10
  yourself. Hold on here, guys.
• 26:13
  Hold on a minute. And what's going on here?
• 26:18
  Show. OK, hold on.
• 26:20
  We're having some technical problems.
• 26:22
  Stay with me. Comments.
• 26:24
  Thank you Daniel for that super chat.
• 26:26
  Let me see if I can do this. Oops.
• 26:29
  Oh, boy. There's Jake from Jake's Custom
• 26:31
  Parts. OK, what am I doing here?
• 26:34
  All right, guys, hold on. There we go.
• 26:39
  There's our banner thanking our sponsors.
• 26:42
  Oh, we need to ring the bell. We're back.
• 26:45
  Hello. Yes, basement dwellers, we are
• 26:47
  back. I want to check to make sure you
• 26:49
  can hear the bell, and you will be able to.
• 26:53
  OK, we got 200 thumbs up. Thank you guys.
• 27:05
  Now, nobody talks about this with solar.
• 27:08
  We know solar is green. We know solar, it's not solar
• 27:11
  energy, it's silver energy, right, Because each solar panel
• 27:14
  has 2/3 of an ounce. I like to round up, when I look
• 27:17
  at the solar panel, I think of a one ounce bar of silver or
• 27:20
  silver eagle, whatever the case may be.
• 27:23
  But nobody talks about this benefit of silver.
• 27:25
  And I want to get your thoughts on this, OK?
• 27:28
  I think one of the other massive benefits to solar energy or
• 27:32
  silver energy as we may call it, is the fact that like if you put
• 27:36
  solar panels on your house, the electricity is generated right
• 27:42
  there. It doesn't need to be
• 27:43
  transmitted. It doesn't need to go through
• 27:46
  overhead wires, it doesn't need to go through underground
• 27:49
  cables, OK? It's, it's generated right at
• 27:53
  your house and consumed right at the house.
• 27:55
  I would think that's a massive benefit because number one, you
• 27:59
  don't have to pay for all that infrastructure #2 it would
• 28:03
  eliminate outages. I mean, we used to have it
• 28:06
  horrible where I live. We'd have like a power outage
• 28:08
  every month. They fix that.
• 28:09
  They trimmed a bunch of trees. But nonetheless, I digress.
• 28:12
  And there was another big benefit to that.
• 28:14
  Oh, from what I understand, like those big overhead electric
• 28:19
  wires you see everywhere, they lose energy as they transmit the
• 28:24
  electricity. What I was told is that those
• 28:27
  big overhead wires, those big, they're all over around Saint
• 28:30
  Louis. They're actually made of
• 28:32
  aluminum because copper would be too expensive for like long
• 28:36
  distance electricity transmission.
• 28:38
  But like a certain percentage of the electricity gets lost.
• 28:41
  I mean, solar panels at the source where they're being
• 28:45
  consumed. I know there's a lot of talk
• 28:47
  about solar farms, but just putting the darn things on a
• 28:50
  house, that makes a lot of sense, doesn't it?
• 28:53
  OK, nobody talks about that. That was my own idea.
• 28:56
  Feel free to use it. All right, let's go to the
• 29:08
  subscriber comment. I got a couple subscriber
• 29:12
  comments here. Let's read this one first.
• 29:15
  This is from Mr. C, This was actually an e-mail I got this
• 29:18
  morning. He said I'm not going to use his
• 29:21
  real name. He said hi Ron.
• 29:23
  This morning with the recent non farm payrolls and unemployment
• 29:27
  August data, gold initially reacted very well, but it was
• 29:31
  short lived. I don't understand anymore and I
• 29:34
  like this guy, but he emails me a lot and I really like him.
• 29:37
  I'm not putting him down. I'm not using his real name, but
• 29:40
  it does start with the letter C. He gets very temperamental about
• 29:44
  moves in the silver and gold market.
• 29:45
  Said the US dollar quickly regained its losses at the
• 29:49
  expense of gold. Honestly, I don't know what it
• 29:51
  will take to give gold a boost. It's a bit discouraging this
• 29:55
  morning and I'm not putting, I'm not busting you.
• 29:57
  I understand Mr. CI, get it right.
• 30:02
  But man, we got to realize these markets move up and down and
• 30:06
  sometimes the movements in the mining stocks, the movements and
• 30:10
  the prices of the metals aren't really like don't make a lot of
• 30:14
  sense. What we got to keep an eye on is
• 30:17
  the long term trend. And what I emailed this guy back
• 30:20
  and said was, you know, I said a boost.
• 30:23
  I said, how about the fact that over the last year the price of
• 30:26
  gold is up by like $700.00 an ounce.
• 30:29
  I'd call that a boost. And again, I love him.
• 30:32
  He's a great guy. The other thought I had because
• 30:35
  I'm that way as well. I can be very temperamental
• 30:38
  watching the obviously guys, I watch the price of gold and
• 30:40
  silver every day. I own a lot of precious metal
• 30:43
  mining stocks. I mean a lot of precious metal
• 30:46
  mining stocks. OK, Is that is that you got if,
• 30:51
  if it's if it's too much of your money that you have invested
• 30:56
  either in physical metal or the mining stocks, I've been there,
• 31:00
  right. It can give you a nervous
• 31:01
  breakdown, especially when the prices are going down.
• 31:05
  So make sure you're balanced. Like for me, what makes sense
• 31:08
  is, you know, we got about a third of our wealth in our
• 31:12
  house, about a thirds in cash and about 1/3 is in precious
• 31:16
  metal mining stocks. And I have some physical metal
• 31:19
  which I don't keep at the house. But nonetheless, you know, it's
• 31:21
  kind of split between that and 1/3 and 1/3 and 1/3.
• 31:24
  So if it's causing you to lose sleep, and I'm not saying it is
• 31:29
  for him, or if it's then, you know, maybe dial it back a
• 31:32
  little bit. OK.
• 31:33
  I did sell some precious metal mining stocks about a month ago,
• 31:37
  trimmed back a little bit after the market went up because I was
• 31:40
  getting to have too much money in that area.
• 31:44
  I still have a lot. Trust me guys, I eat my own
• 31:47
  cooking. OK, Speaking of precious metal
• 31:49
  mining stocks, let's say thank you to 1st Mining Gold.
• 31:53
  Hey, their CEO, Dan Wilton did a unbelievable great webinar
• 31:58
  yesterday with a company called 6S IX.
• 32:02
  It's a Canadian company that interviews CE OS.
• 32:05
  There's a lot of good things going on at first mining gold.
• 32:08
  I'm not giving investment advice, but you can probably
• 32:10
  find it on YouTube or go to the Six website.
• 32:14
  And again, that's first mining gold, Canadian gold developer
• 32:17
  with two major projects in Canada and our friends, excuse
• 32:22
  me, everybody's sick, me included, Fortuna Mining,
• 32:28
  they're an active mining company.
• 32:29
  They have operations right now gold and silver in Latin America
• 32:34
  and some major gold operations working in West Africa.
• 32:38
  You can learn more about them at Fortuna mining.com.
• 32:42
  Let's go to our viewer comment. I want to show this one from
• 32:45
  yesterday. I couldn't pull up.
• 32:48
  We had some technical problems. This was from Ray.
• 32:51
  I thought this was probably the the analogy of the year.
• 32:54
  Silver is like a pond with a garden hose going in and a huge
• 32:59
  siphon hose going out. Supply is getting smaller.
• 33:04
  So thank you again Ray, that sums it up.
• 33:06
  Mic drop, right, That's what's going on.
• 33:08
  That's why we've gone from 2019 having 165 year supply of silver
• 33:17
  to today or maybe at most we have a two year supply of
• 33:22
  silver. Next comment, Kevin Wall there,
• 33:27
  he is good looking chap, basement dweller.
• 33:30
  He said when silver can close at $35 and hold $33 for two weeks
• 33:37
  then I will believe it. Otherwise the Comex is still in
• 33:40
  charge and doing a pump and dump on retail purchasers.
• 33:44
  I can't argue with that Kevin. I think if we get about 30,
• 33:47
  we're off to the races. But what I do think, I think
• 33:50
  that your comment shows is that you and a lot of people that
• 33:55
  when we do get above, I talk about a wave of new buyers
• 33:59
  coming in when silver breaks up to 343536, when people do really
• 34:06
  believe. I think it'll happen sooner.
• 34:10
  I think once we get above 30 and stay there, we're off to the
• 34:14
  races. But there's also a big group of
• 34:17
  people like like let's say Kevin, who don't believe but
• 34:21
  will believe when we get to $3637 per hour.
• 34:25
  So it's going to be interesting, guys.
• 34:27
  It's going to be interesting as always.
• 34:29
  Thank you for your comments, guys.
• 34:30
  You know, leave comments. I read them.
• 34:33
  And you know, you could be featured here on Ron's basement
• 34:38
  if your comments that good. Who knows, it might be picked up
• 34:40
  by the Wall Street Journal. We know the boys at Goldman
• 34:44
  Sachs watch. Thank you again.
• 34:45
  All of you basement dwellers, lovers of silver and gold, Do
• 34:49
  you love silver and gold? Of course.
• 34:53
  OK. And we appreciate you being here
• 34:55
  today. Let's talk about Russia buying
• 35:00
  gold. This is a big story everybody's
• 35:03
  talking about. OK, so let's go check this out.
• 35:09
  Just touch on this from the Silver Academy.
• 35:12
  There's a link to them in the in the description of this video.
• 35:15
  They put out compelling articles about the precious metals.
• 35:19
  Every single day, Russia to increase its gold purchases by a
• 35:24
  whopping 732%. The West will have to answer by
• 35:32
  gold hoarding. First, gold is purchased in
• 35:35
  Russia. It is then transported to Hong
• 35:37
  Kong where it is sold. The proceeds from the sales are
• 35:40
  then deposited back in the local bank bank accounts.
• 35:43
  OK, the take away here here. This is from Task, the Russian
• 35:48
  news agency. Russia to allocate 1.9 billion
• 35:52
  for purchases of currency gold from September 6th through
• 35:55
  October 4th. It's a 7.23 times larger than
• 36:05
  what they were doing. Russia and China began using
• 36:08
  gold to pay for goods due to increasing challenges with
• 36:12
  banking transactions. That's according to Reuters.
• 36:16
  These difficulties were a result of the sanctions.
• 36:18
  Under this new arrangement, gold is purchased in Russia,
• 36:22
  transported to Hong Kong. In Seoul, the proceeds are put
• 36:25
  into bank accounts to facilitate these transactions.
• 36:29
  This is gold, guys. This is the battle, the the gold
• 36:33
  standard battle, the precious metals battle of the ages that
• 36:38
  is going on right now. Russian entities have had to
• 36:43
  hire couriers. How would you like that job?
• 36:45
  That reminds me of the Wild West when Wells Fargo was shipping
• 36:48
  all the silver from Arizona back to New York couriers to
• 36:53
  physically transport documents across the border to obtain
• 36:58
  these necessary seals from Chinese bankers, Russia and
• 37:02
  China and began using gold to pay for goods due to increased.
• 37:06
  So this the take away here is we are in an epic battle of the
• 37:14
  ages, whether you want to call it Keynesian versus Austrian
• 37:19
  economics. I call it the battle of precious
• 37:23
  metals versus the dollar because we know precious metals have
• 37:28
  recently become the preferred reserve asset in the world,
• 37:33
  second only to the US dollar. So gold has officially become
• 37:38
  the number 2 reserve asset in the world.
• 37:41
  It's moving up. Here's the dollar, here's gold
• 37:44
  and there is a mass. How can there not be?
• 37:47
  We know that the Bank for International Settlements
• 37:50
  designated gold now is a tier one asset on par with what?
• 37:54
  Right, The dollar, basically. And U.S.
• 37:57
  Treasuries. OK, there's a massive battle
• 38:02
  going on, but you can put your money wherever you want.
• 38:06
  But I want you to think about this in this battle between
• 38:10
  precious metals. Uh oh, my chair.
• 38:12
  Just hold on my chair. Uh oh.
• 38:16
  Did I break my chair? I'll work on that later.
• 38:19
  I'll do my best not to fall over.
• 38:21
  Hunt you guys as this battle unfolds.
• 38:27
  Right we live. I'm 54.
• 38:29
  How old are you? Right?
• 38:30
  You know how old you are? No matter how old you are,
• 38:33
  during your entire lifetime, the dollar has never really
• 38:37
  collapsed. Suddenly.
• 38:39
  The dollar's been collapsing in slow motion.
• 38:41
  No doubt about it, but we're kind of brainwashed, I guess you
• 38:46
  would say, or conditioned. We have recency bias because
• 38:50
  during our lifetimes the dollar has just gone down in value, but
• 38:53
  gone down very, very, very slow. OK, but it hasn't been that long
• 38:58
  when you compare the dollar and what does the dollar have going
• 39:01
  for it, $35 trillion in debt case If you if you, if you got 2
• 39:07
  fighters, OK, and you're in Vegas and you got to bet about
• 39:10
  you forced, you got to bet 1000 bucks on this fight.
• 39:13
  You got 2 fighters, you got the dollar and you got precious
• 39:16
  metals, gold in this corner. You've got the US dollar with a
• 39:22
  very brief history from a historical perspective, what 150
• 39:26
  years? Also, the dollar's been training
• 39:30
  very hard. It has $35 trillion in in debt
• 39:34
  backing it up. Nothing real backing it up OK
• 39:38
  versus gold precious metals in this corner precious metals 5000
• 39:44
  year history. Oh and by the way, precious
• 39:47
  metals has done battle with paper Fiat currencies hundreds
• 39:51
  of times throughout history and every single time precious
• 39:56
  metals is won who would you bet on who would you bet on he'd bet
• 40:00
  on precious metals. I know and I even.
• 40:04
  Look, I'll, I look, I, I questioned myself, are we in a
• 40:09
  new era for precious metals? I don't know, right?
• 40:12
  I mean, but that's the reality of the situation.
• 40:16
  Look at what's going on. What is it?
• 40:17
  What does it tell you, right when we hear that Russia and
• 40:21
  China are now using gold to trade, to settle right with each
• 40:25
  other, What do what do we know is going to happen?
• 40:29
  What in about six weeks, October 22nd, October 23rd in Russia.
• 40:34
  What is Vladimir Putin said in the past?
• 40:37
  Like I'm done with paper money. Good luck, he said.
• 40:41
  Good luck eating your tech stocks.
• 40:46
  It's going to be super interesting.
• 40:47
  Let's go back out and do an update on the gold and silver
• 40:51
  price. Can we get the silver price
• 40:53
  green? OK.
• 40:54
  It would be a small basement miracle and OK, maybe not.
• 41:00
  Wow, gold now is only down $3. Interesting changes going on
• 41:05
  between gold and silver. Silver guys, real important
• 41:10
  thing to remember is, is that silver has been following the
• 41:16
  copper price. Let us make sure I got you up
• 41:19
  here. Let's go.
• 41:23
  Let's go to ceo.ca. That's a Canadian bulletin
• 41:28
  board. Yeah.
• 41:29
  See, So copper's down .8%. Silver has been more trading in
• 41:35
  line with copper, as you can see here, down .8% than gold.
• 41:40
  Remember, silver is a magical metal, right?
• 41:45
  It's bipolar. Silver's half of silver's
• 41:48
  personality is a precious metal. The other half of silver's
• 41:51
  personality is a industrial metal, right?
• 41:56
  There's no other I mean, but in really think about think about
• 41:59
  this. Another shocking piece of
• 42:01
  information to consider. Take a step back, right?
• 42:05
  Silver has like double demand profile investors and industry.
• 42:12
  OK? No other metal has that real
• 42:16
  profile. There's a little bit of demand
• 42:18
  for gold from industry, but silver is the only one that has
• 42:22
  two sources of major demand. I've got a picture somewhere.
• 42:27
  Hold on one second. Hold on.
• 42:29
  Hold on just one second. I found this the other day.
• 42:38
  I'd lost it. OK, see that silver is in the
• 42:44
  middle. It's like half gold, half
• 42:46
  copper. Industrial, right?
• 42:50
  And we've got gold at an all time high.
• 42:53
  I want you to think about that, OK.
• 42:55
  And we have copper, which at the time was at an all time high,
• 43:01
  but still very high in silver, which is like get them, it gets
• 43:06
  demand from both of those same components is in the middle and
• 43:10
  is far from an all time high, super far from an all time high.
• 43:14
  So just remember that when you think about silver and gold.
• 43:17
  Hey guys, I want to tell you one more time how important you are,
• 43:23
  right? You're the apple of your mommy's
• 43:24
  eye, of course, but also you're very important to a lot of
• 43:28
  people in your life. What's that?
• 43:32
  We got 300 likes. I'm Oh, and I got a super chat.
• 43:36
  OK, OK, sorry. We got a lot more to talk about.
• 43:40
  Thank you. Susie.
• 43:42
  That's Silver, Susie. OK Silver's atomic number is 7.
• 43:47
  That was Daniel. And let's see what?
• 43:49
  Let's see this other super chat here.
• 43:52
  A stopping monkey. Here's a little something for a
• 43:55
  new chair. Thank you, Buttercup.
• 43:59
  And I want you guys to know when I call you Buttercup, that is a
• 44:03
  term of endearment. OK.
• 44:06
  My most favorite nephew in the whole world, Matthew.
• 44:08
  I call him Buttercup. He's been really successful,
• 44:11
  too. I'm very proud of Matthew.
• 44:12
  He's only 24 years old anyway. Oh, I gotta.
• 44:14
  I gotta blow the whistle. Hold on.
• 44:17
  I'll blow the whistle. We got 300 thumbs up.
• 44:19
  Basement dwellers, Are you ready for the train whistle?
• 44:27
  I didn't realize this, but it tells you we're gonna do a train
• 44:30
  approaching 2 longs, a short and a long.
• 44:35
  The train is approaching. It gives you all the different
• 44:38
  signals that they used to use on these whistles.
• 44:41
  You know what? Trains approaching?
• 44:43
  The precious metals train is approaching.
• 44:46
  OK, Did I put that up there? Show?
• 44:48
  Yes. OK.
• 44:49
  All right, Here comes the train. That's the silver train
• 45:03
  approaching. I think we covered it all.
• 45:07
  Thank you, guys. OK.
• 45:09
  I want you to come back. You're important.
• 45:10
  I really want you to feel like you're always welcome here in
• 45:14
  the basement. Right?
• 45:16
  Yeah. I know life is challenging for
• 45:18
  each and every one of us. Maybe we get a little refuge
• 45:21
  here, a little time to hang out together.
• 45:22
  I promise you I will always do my best to create a great
• 45:27
  community that I want you, yes you to be a part of.
• 45:31
  They did not They did. I got disapproved by YouTube.
• 45:36
  Sorry. I wrote him a big letter.
• 45:38
  I said can you please change the name to Ron tube?
• 45:41
  They said Nope it's YouTube because it is YouTube.
• 45:43
  This is not possible without you.
• 45:46
  You're important, you're special.
• 45:48
  Leave a comment in the comments section.
• 45:51
  Please subscribe if you haven't done that.
• 45:53
  Turn on the notifications. Number one, be good to yourself.
• 45:57
  Have a great day. I appreciate you and I'll see
• 46:00
  you soon. Thank you.