Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🎯 Increased SILVER SQUEEZE Chatter 🎯..as WORLD Goes Gold Price CRAZY

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🎯 Increased SILVER SQUEEZE Chatter 🎯..as WORLD Goes Gold Price CRAZY · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Strange activity right now in the silver market.
0:05
We're going to talk about what's going on that should have our
0:08
antennas sticking up right now in the silver market.
0:12
Yesterday I said that I thought silver would close this week
0:15
above $30 per oz. I'm going to stick by that call,
0:20
but we need to look at some interesting developments,
0:22
including, if you notice this increased chatter about a silver
0:28
squeeze, wouldn't that be awesome?
0:33
Those poor boys down at the Comex in the LBMA, what would
0:37
they do with themselves, right? Hey, we've got a lot more to
0:40
cover as well. This is a big week.
0:42
What could push silver over $30 per oz?
0:46
Look, I know the gold price is struggling.
0:49
This morning I woke up right and I looked and I thought, oh, down
0:53
$20 per oz. And I'm sorry, Gold price
0:56
struggling down $20 per oz. It's like the second thing I do
1:00
once I wake up in the morning and then I looked at silver and
1:04
it was green. What is going on?
1:07
I'll tell you one thing and we're going to cover this as
1:10
well, that's going on. There is a worldwide frenzy
1:15
rush, I don't, I can't, it's Monday morning.
1:19
It's hard to think of big words to describe it.
1:22
Interest level increase in the silver market and the gold
1:26
market going on right now. OK.
1:29
But let's talk about the big news this week and and how it
1:33
will impact the silver and gold price.
1:35
Let's talk about what we have to expect, because yes, it's
1:39
another big Newsweek for silver and gold and it will be the
1:43
inflation and consumer spending updates that we're going to get
1:47
that will impact the silver and gold market.
1:49
I'm going to tell you how I think they could impact them or
1:53
not impact them, but let's go down here.
1:55
I thought this was very interesting right here in the
2:00
week ahead. A crucial April inflation
2:04
reading and an update on retail sales will highlight the
2:08
economic calendar. Initial jobless claims will also
2:12
be in focus after the weekly data set hit a surprise nine
2:17
month high in the first week of May.
2:20
Yes, the US economy seems to be shedding jobs on the corporate
2:25
side. We're going to hear from
2:25
Walmart, Home Depot and Alibaba. That'll be interesting.
2:29
In terms of retail sales. Price check.
2:33
Here we go. Stickier than expected.
2:35
Inflation reports headlined the first quarter of economic data,
2:38
prompting investors to scale back expectations for a Federal
2:43
Reserve interest rate cut in 2024.
2:46
You know this whole story. They try to sell us, right?
2:49
If the Fed cuts rates, gold's going to go up.
2:52
If the Fed raises rates, gold will go down.
2:55
If the dollar goes up, gold goes.
2:57
You know that. All that, that rigmarole, that
3:00
that noise or distraction that they try to sell us all short
3:05
term noise on Wednesday. Yes, this Wednesday will be the
3:10
biggest Newsday of the week maybe of the year.
3:13
Who knows? Investors will get their first
3:15
look at whether this trend continued into the second
3:19
quarter with the release of the April CPI report.
3:23
Wall Street expects an annual gain of 3.4% for the headline
3:28
CPI, which includes the price of food and energy, a decrease from
3:34
the 3.5% headline number in March.
3:37
Prices are set to rise .4% month on month.
3:40
Let's talk about this and talk about why in some ways it's
3:46
nothing but a bunch of BS noise that we really don't have to pay
3:51
attention to. Sure, we can have short term
3:54
movements in the gold price and the silver price based on the
3:57
CPI report. But guys, the reality is at this
4:02
point it's all about the Fed monetizing the debt, printing
4:07
more dollars, the devaluation in the real value of the US dollar
4:13
so they can throw out all kinds of crazy numbers.
4:15
I want you to think about something.
4:17
Think about what we're what we're being fed right now by the
4:20
mainstream media. Oh, big CPI report comes out.
4:23
Inflation, inflation #1. Let's remember that three years
4:28
ago, Janet Yellen and Jerome Powell, Jeremy Powell were
4:34
telling us that inflation wasn't a problem, inflation was
4:37
transitory. Inflation was temporary.
4:39
Right now, it's the biggest thing in the world.
4:42
It's all a bunch of games. It's all a bunch of smoke and
4:45
mirrors because the Fed needs inflation.
4:48
The only way the system that we're living in right now
4:53
survives in its current form, where you've got, you know, the
4:57
top 1% of the people in the country that own, like, what,
5:00
65% of the country's assets, whatever the number is.
5:03
It's incredible. The only way the people in power
5:06
survive with all their wealth that they've, some people might
5:11
say, stolen from the middle class over the last 10 or 20
5:14
years is to perpetuate the system.
5:16
And the only way they're going to be able to do that is with
5:20
inflation. They don't care.
5:22
They don't care about inflation. I'll tell you why.
5:25
Right? They're not going to the dollar
5:27
store to buy food to feed their family.
5:30
No, no, they they don't care. They don't call it what you call
5:34
if you're a middle class person struggling, right?
5:37
Like every middle class person, you're not alone if you're
5:40
struggling. If when you go to the grocery
5:42
store and they give you the total right, your blood pressure
5:46
goes up, you're not alone, right?
5:48
But the wealthy aren't. It's not inflation to them.
5:51
It's something else. It's called increase in real
5:55
it's a bull market. It's an increase in their real
5:58
estate, residential real estate holdings.
6:01
It's an increase right, in their portfolios 'cause they own all
6:05
the stocks, right? It's a whole different game
6:09
altogether. The only way they can keep the
6:10
system glued together is with inflation.
6:14
They have to inflate away the debt.
6:16
Eventually they'll have to monetize the debt.
6:18
I'm sorry I went off on a bit of a rant there, but that's the
6:22
reality. All this stuff right is short
6:25
term noise, right? For you as a precious metals
6:28
investor, the long term foundation remains intact.
6:34
Silver and gold will protect you against inflation.
6:39
They always have. They always will.
6:41
That's not debatable. You can't debate the fact that
6:45
if your great great grandma yesterday was Mother's Day to
6:48
the 20 and 90 millionth degree, your mother or your father that
6:53
you were related to. If you traced your family tree
6:55
all the way back, 3002 thousand, 4001 thousand years, If they
7:01
had, they had one little gold, one ounce coin.
7:05
Whatever they had back then, if they had a chunk of gold or
7:08
silver for that matter, and they passed it down through all those
7:12
years, that metal protected whoever was holding it.
7:16
All your relatives going all the way back through all those years
7:18
protected them against inflation, protected them
7:20
against geopolitical turmoil as well.
7:23
And we already gonna get into that this morning.
7:25
I don't think I have anything, but it's not getting any better
7:28
and it's actually nothing to laugh about what's going on in
7:31
the Middle East, what's going on in Europe, right?
7:35
Hundreds of thousands of people dying, right.
7:38
So the silver and gold are going to be there.
7:40
They're going to protect you. This we're going to get all,
7:42
let's go out, Let's get back to the data.
7:45
I'm sorry, I apologize. Let's go out here and take a
7:49
look right now, just so we know what's going on.
7:52
We're going to do our check on the calendar.
7:54
There is nothing going on today. This shows all the big news for
7:58
the week. OK, Tomorrow we're going to get
8:00
the PPI and the core PPI. That's got a red exclamation
8:04
point to it. That means it can have a big
8:06
impact on the market might right 'cause that's the producer price
8:11
index. That's kind of like the
8:12
inflation for companies. But here on Wednesday, as you
8:16
can see, we get CPI, core CPI and retail sales.
8:22
So Wednesday is the big kahuna day.
8:24
Let's go down to Friday. My We get initial claims on
8:28
Thursday, Friday, nothing big. So really, Wednesday is the big
8:34
Newsday of the week. There was something I wanted to
8:37
point out to you on this Thursday.
8:41
Could be interesting though, with jobless claims numbers
8:43
coming out. The bottom line is everybody you
8:48
talk to, everybody I talk to tells us the economy is going
8:51
into the tank, right? Unless you're one of the 1%.
8:54
So we know what's really going on.
8:56
We're going to keep our eyes on it.
8:58
Go. Let's go do a quick check.
9:00
Let's do a quick check. It's going to be painful.
9:02
Be prepared. Let's go out to Pinbex and check
9:06
on the gold and silver price. Not down 20.
9:09
It was down 23 earlier. Look at silver.
9:13
What do you make of this? What does that mean to us?
9:16
Silver. What about a silver squeeze
9:20
potential, right? I know, I know.
9:25
How do you feel about $50 silver?
9:28
How do you feel about $40? Silver first, right?
9:31
How do you feel about 60 or $65 silver?
9:35
But as we can see, very strange behavior.
9:38
Platinum is flying up 17, Palladium up 4, but Silver up
9:43
$0.12 on a day when gold is down.
9:46
Huh. I wonder what's going on.
9:49
Let's dig in and let's find out. Of course, it wouldn't be a
9:53
complete morning if we didn't go check with our friend Bai Yi
9:57
Jangon, also known as the Oriental Ghost.
10:01
Hey, we got bad news here guys. Silver price as you can see
10:06
actually was down on the Shanghai Gold Exchange 3143
10:12
gold, I'm sorry, silver on the Futures Exchange 3140.
10:16
Look at gold though on the Shanghai Futures Exchange 292397
10:22
still almost $2400. And he points out that the
10:25
weekly report of silver vaults on the Shanghai Gold Exchange
10:30
shows that it's about to fall below 1400 tons.
10:35
So are we, are you hearing and what does it mean?
10:39
Are you hearing what I'm hearing increased chatter about the
10:44
potential for a silver squeeze. And I'm hearing it from a number
10:48
of different angles, not just my contacts at the executive level
10:53
in the mining industry, not just my fellow YouTube content
10:57
creators that are saying it right.
10:59
I'm hearing it even on some like news, like people are beginning
11:03
to realize the crazy situation. Are we, are we starting to see
11:08
small, small. Then I'm not saying we're gonna
11:11
have the silver squeeze, don't go out and you know don't go out
11:14
and make any financial decisions based on this.
11:17
But are we seeing now and starting to hear right what,
11:22
what, what we can expect to see in regards to a potential for a
11:25
silver squeeze in the future. You know what?
11:27
I need to run back out and say thank you to our channel sponsor
11:30
today, Pen backs. We always appreciate the quote
11:35
that they give us, but you'd appreciate them even more, I
11:39
believe if next time you're out shopping for gold, silver or
11:43
platinum, you throw Pinbex into the mix.
11:46
Compared to what you can get at Pinbex to what you can get at
11:50
the other online bullion dealers, I think you'll find
11:54
what I found. You get more metal for your
11:57
money at Pinbex. And to me that's most important.
12:00
You know, I get a company that I can trust.
12:03
I get the same exact whether it's a Krugerrand or an American
12:06
Silver Eagle or a 10 oz bar. The exact same product I can get
12:09
elsewhere. It comes packaged like Fort
12:12
Knox. Right?
12:13
But I get it at the best price, which means I get the most
12:16
metal. For my money, I think Pinbex is
12:19
best. I think you will, too.
12:20
Thank you, Pinbex, for sponsoring Ron's basement.
12:23
Oh, oh, oh, oh. Susie's gonna be proud of me.
12:26
I remembered to put up the banner.
12:28
There we go. All right.
12:30
OK. Silver Squeeze.
12:34
How does that make you feel? What what type of evidence do we
12:39
have? You know, Andy Scheckman always
12:41
says you got to pick up the crumbs and put them together
12:44
that we might. And Andy Scheckman's not saying
12:46
the silver Squeeze thing, he said the thing about pick up the
12:48
crumbs. But nonetheless, what crumbs?
12:50
All right, major arbitrage going on right now between the East
12:57
and the West. We just looked at it on the
13:00
Shanghai Gold Exchange and the Shanghai Futures Exchange.
13:04
The price is silver, Gold for that matter as well.
13:07
But we're talking about a silver squeeze here.
13:08
The price of silver is substantially higher, $31.50
13:14
versus what did we see here hold on, current price 2836 here in
13:20
the United States, it doesn't make sense, right?
13:23
People are buying silver in the United States, in the West and
13:30
selling it in China. And China's like, hey, we'll
13:32
take it. We'll take it.
13:33
We want it right there, stockpiling.
13:35
And it's not just silver. I hear it's copper.
13:38
I hear aluminum. I hear obviously.
13:41
What's that other metal that they might be collecting over
13:43
there in China? Gold.
13:45
Yeah, gold, as well. Big movements of metal, silver
13:49
in particular. And it's putting stress on the
13:52
COMEX and the LBMA, OK. We know the inventory levels at
13:58
these big major Western exchanges are slowly being
14:04
drained, right, which means the metal that is left there in the
14:08
in the inventory, in the registered inventory, in the, in
14:11
in the inventory vaults that they have to back all this
14:15
electronic paper. Don't we have a word we like?
14:21
OK, Susie says we have 100 likes.
14:23
Thank you, Susie. Hold on one second.
14:25
It's been a while. Hey, guys, seriously, we're
14:28
going to get back to the Silver Squeeze and we got a lot more to
14:30
talk about in in evidence of that going on.
14:33
But I want to say thank you right now to you for joining me
14:36
here in the basement. As a small token to my
14:38
appreciation, I'm going to make some music for you.
14:40
Do you see that? That's an American Silver Eagle
14:44
beautiful coin with the pocket pinger. 10 rings for you.
14:48
That's for 100 thumbs up, all right.
14:58
Further proof that I can count the 10.
15:00
So the little bit of metal that's at the LBMA?
15:04
The itsy bitsy bit of metal. Right.
15:07
That's at the COMEX that's backing up all this paper
15:12
silver, make believe leveraged silver, right.
15:16
All these contracts, right. It's getting to a point of
15:21
stress. OK, Andrew McGuire, I have to
15:24
repeat this once every other day, who I have the utmost of
15:27
respect for. This guy knows the inner
15:29
workings of these exchanges. It was about a month ago.
15:34
He was talking about the stress getting to a point where it
15:38
pretty much what he alluded to creates a event or a big problem
15:43
that it's likely not years into the future, right?
15:48
It's actually likely now, more like months into the future.
15:53
Things are going on massive right now in the world when it
15:57
comes to the precious metals, and you're a part of it.
16:01
We're a part of it. OK, Silver Squeeze.
16:06
And it's not going to be right. It could be.
16:08
They'll be involved, right. The other Silver Squeeze was
16:11
with Wall Street Silver. Now we have the Silver G Dijon
16:15
Club. These are great guys that are
16:16
doing great work and great communities for the Silver
16:21
World. But what's really potentially
16:24
going to be a major catalyst for this next Silver Squeeze isn't?
16:28
Well, it could be. Oh my God, it just gets better
16:31
and better. I mean it could be demand from
16:34
the West. We'll talk about that in a
16:36
second. But what's likely going to be
16:37
the catalyst for a next silver squeeze is demand from the East.
16:43
China, India, right. Russia, The BRICS countries,
16:48
Brazil, Russia, India, China, South Africa, Iran, Saudi
16:51
Arabia, Egypt, Ethiopia and the United Not States, but the
16:56
United Arab Emirates. Those are the 10 countries that
17:00
are in the bricks right now. Yes, I can say them faster than
17:03
anybody else on the Internet, but nonetheless, they're gonna
17:06
be the reason. They're gonna be the catalyst
17:09
that initially could ignite this next silver squeeze.
17:14
Are we seeing it already right now in the gold market?
17:18
Doesn't it kind of feel like we are?
17:20
It does to me, right? I mean, look at the gold market.
17:23
Look what's going on in the gold market.
17:26
But wait, there's more. It gets even crazier, right?
17:30
When you know what's going on. Those those countries are like,
17:34
yeah, boys, we'll take all your silver.
17:37
We'll take all your gold. OK?
17:39
Don't don't you even think about giving them yours, 'cause if you
17:42
sell it right, if you go sell some of your silver, go sell.
17:45
Are you thinking about selling some of your silver and gold,
17:48
You take it to your local coin shop, it's probably gonna get
17:50
melted down and sent over to China.
17:52
We don't want that, right? No, but while there, there's
17:56
this massive demand sucking sound.
18:00
I if I had a vacuum down here, I'd turn the darn thing on.
18:03
But Susie's always so busy cleaning the house, she keeps
18:06
them all upstairs. I can barely get time to come on
18:10
these live streams. She's running the vacuum so
18:12
much. But that vacuum sound, that's
18:16
the that's the Chinese sucking in all the silver, all the gold.
18:21
But wait, there's more. And I'm not gonna keep you
18:24
waiting any longer, 'cause we talk about that, the Chinese,
18:29
the bricks, beans. Just.
18:30
I just want you to imagine something, and you may not wanna
18:34
recognize this because you are joining me from a Western
18:38
country, right? Most likely AG 7 country.
18:42
We aren't buying any silver. We aren't collectively any gold.
18:46
It's starting. It's starting to percolate,
18:50
right? People are starting to wake up.
18:52
But the numbers don't lie. OK?
18:54
Over the last six months, 12 months, the ETF outflows people
19:00
taking money out of silver and gold retail bullion sales.
19:05
And that, my friends, can be proven by the fact that premiums
19:08
are so low down. So what happens when you got the
19:11
giant Chinese Russian bricks vacuum cleaner sucking in all
19:17
the metals? Excuse me?
19:19
What happens? I begged the question when the
19:23
Western investor wakes up that my friends OK, is the Double
19:29
Silver Squeeze. I should have titled this video
19:38
the Double Silver Squeeze because it's going to be a AA
19:41
Double Silver Squeeze. Like, what's that guy that used
19:44
to be on selling stuff on TV? But wait, there's more.
19:47
Like just when all of a sudden, right, things erupt because of
19:52
what the East is doing with the silver and gold market and then
19:56
the double silver squeeze is when you know the the the
20:00
western investors, our friends wake up.
20:02
It's absolutely crazy. OK, on top of that, Oh my God,
20:06
there's there's one more. I'm gonna move quickly now.
20:09
And that is just the basic fundamentals backing up the
20:13
silver market. We won't go into it, but it's
20:17
real easy. Basement dwellers we know.
20:20
The demand for silver is far outweighing the supply.
20:23
There's a deficit on top of all the, I mean, the mining
20:28
companies. I talked to the CE OS of the of
20:31
the silver mining companies. There's been no money going in
20:35
to to finding new silver. You know why?
20:39
You know why? You want to know why?
20:41
Because the price of silver has been held down artificially low
20:45
for so long. So think of it like a pipeline,
20:49
like a silver mining company has a giant pipeline, right?
20:53
OK. And it's providing oz.
20:57
And every year they're, they're digging these oz out of the
20:59
ground. Once they dig that oz out, it's
21:03
not coming back. Because don't forget, that's one
21:05
of the other beautiful attributes of silver and gold,
21:08
right? You can't print it.
21:10
There's only so much of it. So they're pulling those oz out
21:13
of the ground, but their pipeline is drying up, OK
21:17
because there's no money to invest in the pipeline, right.
21:21
So we're heading into a perfect storm for a potential silver
21:27
squeeze. I'll, I'll argue that till the
21:29
end. I could be wrong.
21:31
You know, maybe there is 95 billion stored by JP Morgan in
21:36
some secret vault. I don't think so.
21:38
We don't. We know that's not the case.
21:40
And why? Why is JP Morgan holding so much
21:42
silver anyway? That's a subject for another
21:45
another video. Hold on one second.
21:47
I'm going to have a drink of water.
21:48
You have a drink of water. We're going to be back.
21:49
So we got a lot more to cover. And I'm glad you're here.
22:04
And it's not just us saying it. Let's go out here.
22:06
Hold on, hold on. I got something to share with
22:10
you. What's this?
22:12
Oh, look at this article. This came from the Gold Broker
22:16
site, but it's an article published by Laurent Morrell
22:20
Towards a new Silver Short Squeeze What?
22:25
Lauren, what are you talking? About.
22:26
OK there. Global silver demand.
22:29
Oh boy, oh boy. Yeah, growing and growing.
22:34
That was from the Silver Institute.
22:36
We've only seen that chart. Explosive solar panel
22:39
manufacturing. Guys, look, we are here on this
22:43
chart. Hold on one second.
22:47
We are here. OK, we are 2024 India's annual
22:53
solar module manufacturing capacity 85 in three years that
23:02
double S OK on top of that the new generations of solar panels.
23:08
This is something that a few people are talking about.
23:11
But but you may have forgotten this interesting fact.
23:15
The newer generations of solar panels actually use more silver
23:20
per panel. So when we look at numbers like
23:23
this, again, this is where we are.
23:26
This is India, right? This is the same India that what
23:29
imported, I don't know, 125 million ounces of silver during
23:34
the first quarter of the year. Yeah.
23:36
Now we're not going to have a silver squeeze.
23:38
Can't happen. Sorry.
23:39
I don't know why I'm even saying this stuff to you guys.
23:42
That could never happen, right? Look here, the increase in
23:47
production is helping to accelerate the reduction of
23:50
stocks in the Chinese market, right.
23:54
This is the stock of warehouse at the Shanghai Futures
23:58
Exchange, right? This is probably tons over here.
24:01
This is what our friend the Shanghai Darren.
24:03
For the Super. Chat Thank you Darren for the
24:06
Super chat and thank you Susie for speaking to me through the
24:10
walkie-talkie. But look at this guys.
24:12
This is the, this is the amount of silver in the warehouses in
24:15
China, right? We talked about this earlier.
24:19
It's just I'm gonna go through this.
24:22
This shows the premium for gold, but still, right?
24:26
Actually, no. This is probably silver,
24:29
Shanghai Gold Exchange, physical premium 3%.
24:33
I mean it's well, no because that can't, that has to be gold
24:35
because the premium on silver right now between the Comex and
24:39
the Shanghai Gold Exchange is like three.
24:42
Yeah, it would easily be 10%. Anyway, I'm going to go through
24:47
this one in more in more detail. Oh, this, let's look at this
24:53
though. OK.
24:55
This is the silver price again showing the incredible breakout
24:59
that we had up to 30. Now we're back up in here in the
25:03
28 level. It just gets more and more
25:06
interesting as we go along. And is the Wall Street Journal,
25:10
you guys ever heard of that paper called the Wall Street
25:12
Journal? The wall is why.
25:14
Why suddenly is the Wall Street Journal always talking about
25:17
silver and gold? Does that make any sense to you?
25:21
Right. But they are here.
25:23
John Rubino on his sub stack. Hold on.
25:28
Here we go. Wall Street Journal boosts gold.
25:33
FOMO, fear of missing out. They hate that everyone suddenly
25:37
wants physical metal. I mean, it's it's bizarre.
25:43
OK, I just want to read this little part.
25:45
This is, this is interesting. Do you guys know Eric Vasquez?
25:49
He's a lineman for a power company in Southwest Florida.
25:52
He says he's holding a lot more gold than most financial
25:56
advisors would recommend. Well, I got news for you, Eric.
26:00
Financial advisors will say, what would you Why would you
26:02
ever want to hold physical gold or silver?
26:05
I can't make a Commission off that.
26:07
You need to hold a a mutual fund that I get in for the rest of my
26:11
life. You don't want to hold physical
26:12
gold and silver. It doesn't make any money,
26:15
right? No, not just in his portfolio,
26:18
but also in bars and coins spread between several secret
26:23
locations. OK, so he's got it hidden
26:26
secretly. It's a strategy for a world that
26:30
he worries is growing more chaotic.
26:32
Check, check, check. We agree with that.
26:33
I mean, did you see the college graduation protest?
26:37
Susie and I this morning were watching the Today Show.
26:41
She gets mad at me when I call it Good Morning America.
26:43
When I'm it's so early in the morning.
26:45
Any new show to me is Good Morning America.
26:47
But nonetheless, there were major protests at college, like
26:52
at Duke University, when Jerry Seinfeld was talking some of
26:55
these other major universities. Major disruptions?
26:58
Yes, chaos. The government keeps spending
27:01
beyond its means. What are you talking about, Mr.
27:03
Vasquez? Stock prices can crash from a
27:07
tweet. I love that.
27:10
Right, 'cause don't forget guys, don't forget there's a lot of
27:13
money that people think they have in the stock market, in the
27:17
magnificent. Seven The tech.
27:19
Stocks right? And those things are are backed
27:22
up by a lot of hot air and hope like like for every $100 you put
27:28
into the Magnificent 7 tech stocks, you're only getting a
27:31
fraction of that in real assets. A tweet, whatever could send
27:36
these stocks down precipitously. OK, could.
27:39
I'm not. I'm not, you know, but easily
27:41
could and send a lot of money filtering down looking for a
27:45
home in real assets like gold and silver.
27:49
He wants to ensure that his wife and children go to bed at night
27:53
in peace. Well, who doesn't, right?
27:54
Mr. Vasquez said. Requires owning tangible assets
27:59
not just a claim on them through some fangled exchange traded
28:03
fund. He says.
28:04
Quote, at least in my adult life, nothing's gotten better.
28:08
So this is a 33 year old, right? And that that really hit me to
28:13
think that, right. And then I kind of thought about
28:15
myself and 54 years old and it feels like things were kind of
28:19
got better during the 90s when I was in my 20s.
28:23
But it seems like I agree with him, somebody who's 33 years old
28:28
is going to look at what's going on in the world and I can
28:30
understand his frustration. Nothing's gotten better.
28:33
Do you feel that way? I mean, I certainly what what
28:36
year are we in here, 2024. I mean, it's kind of around 2008
28:42
is when it really. So, yeah, for the last 15 years,
28:45
16 years this, this, this chap. That's what happened when he was
28:50
17 years old, the great financial crisis.
28:53
No wonder he's he's a little skeptical of what's going on, he
28:58
says. I just feel like I want to take
29:00
as much of my own livelihood, my own safety, my own family's
29:04
safety into my own hands. Worries about war, discord and
29:08
mounting government that had fueled A worldwide rush.
29:11
OK, this is the Wall Street Journal fueled A worldwide rush
29:16
by individuals and institutions into what Wall Street calls
29:21
physical gold. They also call it like what?
29:24
Pet Rocks. And other things.
29:26
Who would want physical gold is only outperformed most of the
29:29
other markets. So don't.
29:31
See the? Article.
29:33
Unless you're not sharing it. Oh, what the heck.
29:34
Hold on here, guys. I forgot.
29:38
Hold on. I apologize.
29:40
Here we are. There's the article.
29:42
Let me go back up here. I usually check that.
29:46
Wall Street Journal Boost FOMO John from John Rubino sub stack.
29:50
This is the Wall Street Journal article.
29:52
OK, it's it's just unbelievable what's going on.
29:59
Hold on here now. I lost my spot, OK.
30:02
Worries about war discord and mounting government debt have
30:04
fuelled A worldwide. Here we are right now.
30:07
I'm even going to highlight it for you now that I had you guys
30:11
not seeing the screen worldwide rush by individuals and
30:16
institutions for what they call physical gold bars, coins,
30:19
jewelry has lifted prices more than 40% since 2020.
30:24
So are we having OK now let's just do we'll do one more
30:28
paragraph. This is so much fun.
30:30
The Wall Street Journal's calling it a worldwide rush.
30:33
Are we having a worldwide rush. The climb at times has perplexed
30:38
analyst because it didn't coincide with a typical feature
30:41
of prior rallies mounting bullish bet and futures options
30:46
and ETF markets. Yeah.
30:47
So they're like, why is gold going up?
30:50
Why is gold going up? Because we, us Westerners, we're
30:53
not. We're not buying.
30:54
We're not making big, you know, options, bets, leveraged bets.
30:58
We don't understand. Are you Gold's supposed to go
31:01
down? It's because the world is waking
31:05
up. The world.
31:07
There's more to the world than just the United States.
31:11
OK, All right, guys, that. I mean, that's because the world
31:15
is waking up, OK? Also, gold pays no income and
31:18
generally becomes less attractive, blah, blah, blah.
31:20
So they're just saying we don't understand, right?
31:23
People think it's because of Chinese consumers.
31:26
Well, maybe that's the case. Hey, I really apologize for not
31:30
having that article up on the screen while I was talking.
31:33
Hopefully I didn't do anything to embarrass myself while the
31:35
camera was on me when I thought it was off.
31:39
All right, the world. OK, the world is what is what's
31:44
going on. So where do we see proof of that
31:47
Right here. Right here.
31:48
One more article. The world is is driving this
31:51
massive move short squeeze potential in silver gold as
31:57
well. OK, here.
32:01
This from Gold Star. OK, this is his sub stack.
32:09
Gold sells out in Hanoi, that's Vietnam, Korea and 15 cities
32:15
across India in dozens of Costco retail outlet.
32:21
I'm going to repeat that guys gold is the godfather of the
32:26
precious metals and gold sold out in Hanoi, right?
32:30
Vietnam, Korea and 15 cities in India and dozens of Hey, wait a
32:38
minute. This is our friend John Little
32:39
who writes this right? This is the Gold Star sub stack.
32:43
I highly recommend you subscribe to these things.
32:45
It's great information. The world Gold Guild.
32:48
Look John, though, you you forgot you that headline.
32:51
You forgot China. I'm just giving him a hard time
32:55
because John does extensive reporting on China.
32:59
Here. Look at these pictures.
33:00
Gold bars sold out in Hanoi, right?
33:03
Isn't that cool, guys? Don't you wish we had gold shops
33:06
like that in the United States? Maybe.
33:08
Maybe we need to open one. Thousands buying gold along with
33:11
their groceries. Koreans.
33:13
Translate. Buy some gold along with your
33:15
ramen. Look at that.
33:19
See. Look.
33:21
This is what they're they're the right here.
33:23
Here's the gold. Here's the ramen.
33:26
Kind of looks alike. Gold.
33:29
Frenzy. Grit 200 thumbs up, guys.
33:33
I'm going to ring the bell and we're going to come back to
33:35
this. You know what?
33:36
I want to say something. Oops.
33:39
Hold on here. Cancel.
33:41
I almost ended the live stream. Whoo.
33:44
That's turning out to be one of those days.
33:46
Hey, thank you for being here. Thank you.
33:48
I'm going to ring the cowbell. We got 200 thumbs up.
33:51
It helps. It helps get the word out to
33:53
more people. We're trying to spread the word,
33:55
the news about gold and silver. But most importantly, it's a big
33:59
deal that you're here. It's a big deal that you show up
34:02
in the basement. 500 of us, on a Monday morning.
34:05
Thank you for being here. Right.
34:06
You're as you. Yes, you are super important.
34:10
We're all important. I'm going to ring the bell for
34:13
200. Thumbs up and a few more for
34:17
Jake. All right.
34:19
Let's get back quickly to this article because this stuff is
34:23
absolutely fascinate. OK, there we go.
34:28
Ronnie's got to remember to share his screen.
34:30
OK, Gold frenzy grips Asian markets amid economic
34:33
uncertainly A remarkable surge in gold demand has swept across
34:37
Asia, driven by economic instability.
34:40
Does that sound familiar? Huh.
34:43
Economic instability. I'm telling you, we've got it
34:47
right now in the United States of America.
34:50
Go anywhere where middle class people live, shop, buy right and
34:57
talk to them. Right.
34:59
Go to a Red Lobster, go to a ALDI grocery store, Go to
35:05
somewhere where middle class people and then go to a dollar
35:08
store and ask people, do you think we're having economic
35:12
instability? Absolutely we are.
35:15
OK, it's happening here right now in a deep rooted cultural
35:19
affinity for the precious metal we definitely it's so bizarre
35:23
isn't it, that we don't have that in the United States.
35:26
This country was built on gold and silver.
35:30
We were on the gold of bimetallic standard.
35:32
We were on the gold standard for 180 years.
35:36
And did you know, and how does it make you feel right, this
35:41
fact that those 180 years that the United States was on the
35:45
gold standard and much of that a Bimetallica silver standard as
35:49
well, that 180 years up until 1971 when President Nixon
35:53
temporarily took us off the gold standard.
35:56
During that 180 years of gold standard, we had economic growth
36:02
and innovation in this country that was never matched by anyone
36:07
anytime in history. Guess what?
36:10
Since 1971, and I can vouch for that 'cause I was born in 1970.
36:15
That's not been the case. Now we have Unicorn fart, dust,
36:19
magic, money, economy, right? Everything's everything's
36:23
printed and paper and electronic and similarly have CBD, CS and
36:28
and oh, by the way, the middle class during the last 50 years
36:32
in this country has been decimated.
36:36
Have you been decimated? Right.
36:38
People are working harder and harder to get less and less.
36:44
That's an absolute fact of what's going on right now.
36:48
But none the less, our fellow Americans, you.
36:51
I mean, come on, man. You talk to your.
36:53
Talk to your you. We've we've covered this 10
36:55
zillion times. Talk to your neighbors.
36:57
Talk to your relatives about silver and gold.
36:59
And they look at you like you're crazy.
37:01
Like, no, we like Unicorn fart dust.
37:03
It feels better, You know, whatever.
37:04
Paper money, whatever you want to call it.
37:07
In Vietnam, gold bars swiftly sold out in major cities like
37:12
Hanoi and Ho Chi Minh City as prices skyrocketed.
37:16
Meanwhile, South Korea witnessed a novel trend, with convenience
37:18
stores and vending machines becoming unlikely.
37:21
Retail outlets for miniature gold bars like fingernail size.
37:26
OK, China. And then I want to get because
37:29
we haven't talked about this, this, this.
37:31
China's huge. We know that, OK?
37:33
Chinese surge in Chinese demand is rooted in cultural and
37:37
economic factors, right? Gold is increasingly viewed as a
37:42
symbol of prudent financial planning.
37:45
I'm telling you, basement dwellers, we're gonna be saying
37:48
the same thing, OK? Five years from now, I'm well,
37:52
we'll. I'll be 59.
37:53
How old will you be in five years?
37:55
Don't worry. We're all gonna still be here
37:57
together. We're gonna be saying the same
37:58
thing, but we're gonna be saying gold is increasingly viewed as a
38:01
symbol of prudent financial planning in the United States.
38:05
And good fortune. All right, here's the real
38:09
interesting It's been a while since we talked about gold
38:12
beans. The young people in China,
38:15
right? The young people in China love
38:19
gold. India love gold and silver.
38:22
Korea. The stamp that we saw out of
38:24
these new little Korean bars, It's young, a lot of young
38:27
people buying them. Young Chinese investors, part of
38:31
the Gen. Z cohort, have diversified their
38:34
gold investment strategies. Platforms like Alibaba's, which
38:38
is like the the Amazon of China Taobao have become popular for
38:43
purchasing miniature gold beans. Small scale investments, often
38:49
just a gram per unit. So they're like little tiny
38:52
beans, little gold beans. These bite sized gold products
38:55
along with other forms of gold jewelry have emerged as
38:59
preferred secure investment options among young people
39:03
navigating uncertain economic times.
39:06
OK, India, it's going on as well.
39:09
We know. It's just absolutely crazy
39:12
what's happening out there. Let's let's go, man.
39:17
We got so much to cover. Thank you for being here.
39:22
We got more to cover. We got more to cover.
39:25
I'm trying to decide which of these I want to pick to tell you
39:27
about because there's so much, so much going on.
39:31
Let's just look at a headline. These are headlines, right, from
39:35
Zero Hedge. Why we are at the start of a
39:38
multi year gold bull market, right.
39:41
That's from John. John Newenhouse.
39:43
This guy writes unbelievable great articles about the gold.
39:48
OK. Extras pyramid.
39:50
Yeah, our old friend John Exter. Here's a real simplified version
39:56
of Extra's Pyramid. Stare at that for a second
40:02
because don't see money. Money.
40:04
See over here on the right. This is great.
40:06
I, I, I like this money. Things are more money down here.
40:10
He forgot to put silver down there as well.
40:12
But none the less, real money as you go down.
40:16
Credit as you go up at the top. Derivatives equity.
40:20
Right. This wouldn't be stocks in my
40:22
opinion. I don't see stocks listed on
40:24
extras pyramid. I'm telling you, there's a
40:25
bubble in the stock market and when that bubble bursts, OK, and
40:32
it will, it will. That money is gonna be looking
40:35
for something. And when it's burnt money, what
40:37
happened in China, right. That's a great example of
40:41
exactly what could happen here as well.
40:42
That money and it the the crazy part about it is it's not gonna
40:46
take a lot of the money. I mean if 4% of the money that's
40:52
in the stock market right now says sell, sell, sell and moves
40:57
into silver and gold and mining stock equities for that matter,
41:01
it could be a massive absolute massive.
41:03
I got another chart though. This one is going to blow you
41:07
away guys. Absolutely blow you away.
41:11
But right now I'm going to say thank you to channel sponsor
41:14
First Mining Gold. They put out a quarterly report
41:17
this morning with some crazy interesting information about
41:21
the value. I mean they've got two big, big,
41:25
big development stage projects in Canada, OK, massive multi
41:29
million ounce projects, the Duparque project in Quebec and
41:34
the spring pole project in Ontario.
41:36
But on their balance sheet, they also have four other projects
41:40
and two of these projects Pickle Crow and then their interest in
41:46
a company that is Treasury Metals which is going through a
41:48
merger in there right now. The value of these of the of
41:52
their investment in those companies.
41:55
I was, I'll just say I was blown away and I'm, I'm looking to get
41:58
some more information in terms of specific dollar amounts
42:01
whether it was Canadian or U.S. dollars.
42:04
But it's very, very interesting. They got the two massive
42:08
projects that they own. They also have Cameron, another
42:12
like Million Ounce project in Canada, Pickle Crow and and the
42:18
Treasury metal situation. And then they still own 20% of
42:22
the Big Ridge project in Newfoundland.
42:24
So very interesting developments.
42:26
Also say thanks to our friends at Fortuna.
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Again, great earnings out of Fortuna last week generating
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awesome cash flow. You can learn more about Fortuna
42:34
at fortunasilver.com. And I forgot to tell you that if
42:37
you want to learn more about first mining gold, go to
42:39
firstmininggold.com. Now let's look at a chart.
42:43
This tells us every at the end of the day, I had Lynette Zhang
42:47
on. A lot of you probably watched
42:50
the my interview with her. She explained this so clearly.
42:54
Right? All this.
42:56
Right paper. This is paper.
42:58
Make sure I got the right one, 'cause I have a silver
43:00
certificate. This my friends, right?
43:02
Your eyes light up, right? We're brainwashed, right?
43:06
But all of this, and this is actually the good stuff.
43:09
All the derivatives, all the debt, all the electronic,
43:14
Imagine this floating around in space of this, right, is based
43:19
on this. It's all based on this beautiful
43:23
silver round, right? Or gold, right?
43:26
OK, all of it. And when we look at this chart
43:31
of what the Fed has done, this came from my friend Sean.
43:34
My college roommate sent me this one.
43:36
This was breaking because it just happened right before I
43:39
came live. So thank you, Sean, for sending
43:41
this. When we look at this chart, I
43:44
was just absolutely flabber. And I got another chart to show
43:48
you. OK, hold on.
43:49
Make sure I got it. I know.
43:51
Mcadamsburg. Super.
43:53
Chat. OK.
43:54
Yes, hold on a second here, guys.
43:57
Hold on. Here we go.
43:59
Thank you, Ron McAdams for the Super chat.
44:01
Let's put Ron up on the screen, huh?
44:03
With this crazy chart. OK, go back to the crazy chart
44:07
there. This comes from our friends at
44:12
VO. Ron, oy, they put out some
44:16
interesting charts. Federal Reserve assets, OK,
44:21
These are the Federal Reserve assets factors affecting and
44:26
quantitative easing. I'm going to make this a little
44:28
smaller so we can see it better. There we go.
44:32
OK, now look at this. These are the total Federal
44:36
Reserve assets, right? Where's the list?
44:42
Darn it. OK, Treasury securities, this is
44:45
2000, OK? This is 2005.
44:50
This is 2008, The great financial crisis.
44:53
So look at how steady the amount of Federal Reserve assets was
44:58
during that period. Hold on here.
45:00
I'm going to get the whole thing on the screen.
45:04
I won't give up. Never, ever, ever give up.
45:07
I knew a great old man. He always said that.
45:08
Don't give up. Don't ever, ever.
45:10
There we go, guys. OK, 2008, look at this.
45:14
Then it shot up, right? And then from O 8 to about 2020.
45:18
Then they tapered back a little bit.
45:20
Oh, but they started, they started buying mortgage-backed
45:24
securities. OK.
45:25
All right. This, these are Federal Reserve
45:28
assets. Look how huge this amount is.
45:32
OK, compared to what we had before the great finance.
45:36
It's no wonder that Vasquez guy that said he buys gold, right?
45:40
This. This happened when he was about
45:41
17. Since then, what?
45:44
It Let me look at how things exploded.
45:47
But then then take a look at what happened in 2020.
45:52
Look at this massive BLOB, guys. That BLOB is Unicorn fart dust.
45:58
It's make believe paper printed money.
46:00
This BLOB is the reason why when you go to the grocery store with
46:08
$150.00 today, you only get all right as much as you got with
46:14
$80.00 eight years ago. This is why we've had massive
46:19
inflation and this is not going anywhere.
46:22
Sure, they've cut down a little bit in the last couple years,
46:26
but nothing material compared this, OK to this.
46:31
And again, you know I'm going to say it again.
46:34
I, you know, it's a goofy term, but it is.
46:36
It's make believe. Funny money.
46:37
Unicorn fart dust. Whatever.
46:40
This. This.
46:41
Right. This fits in with extras
46:44
pyramid. Right?
46:45
This has changed. Let me show you something.
46:48
Let me show you something. Right.
46:52
That chart I just showed you, that's this paper money.
46:54
OK, hold on one second. Right, Right.
46:57
This has changed this, right? If I could magically print more
47:02
of these. That's what's going on.
47:04
We had another one. Hey, Darren, thank you for the
47:06
Super chat. Also, we'll put you up OK.
47:09
This, during that period has not changed.
47:13
All right? This has not changed.
47:15
We got one more cool chart. I want to show you this one.
47:20
OK, I I was surprised by as well.
47:26
And this one is really pretty. Another one from Bill Rodney.
47:33
Another one from my college roommate Sean Gold has an 86%
47:38
recycling rate, according to the latest data available.
47:42
What about silver? OK, recycling rates of metals.
47:46
So there we have gold right? The gold ball 86% platinum and
47:52
Palladium. We know they steal people's
47:54
catalytic converters off their cars. 60% Nickel 60%.
48:00
They're claiming 50% of silver is recycled, which to me, I was
48:06
shocked by that. I thought that was very, very
48:08
high, but none the less only 50% of silver is being recycled,
48:13
copper not far behind, 46%. Again, we know they like the
48:18
steel wire out of houses under construction and in old parts of
48:23
cities like Saint Louis, aluminum 42%.
48:27
We help out with that. We throw our aluminum cans in
48:30
the recycle bin. Chromium, cobalt, zinc, very
48:33
low. Lithium.
48:34
That's interesting. Very, very, very low.
48:37
All right, guys. I appreciate you being here
48:40
today. OK.
48:41
You are the most important part of the basement.
48:43
Keep up the good work. It's going to be an interesting
48:45
week. We're going to get this big
48:47
inflation data on Wednesday. Noise, noise, noise.
48:51
Remember that graph I just showed you?
48:53
You can't just print money into Infinity and not think that
48:58
there's going to be real, real consequences, and that's what
49:01
we're running into. The real value of gold and
49:05
silver will absolutely shine through.
49:09
Please support our channel sponsors Pinbex at Pi MB E,
49:13
xpinbex.com, First Mining Gold and Fortuna Silver have a.