TRUTH REVEALED! Silver and Gold Price Manipulation… the Real Reasons

Join us for an enlightening interview with the Silver Hermit YouTube channel as we delve into the intricate world of precious metals manipulation with Oren. We uncover the compelling reasons behind the artificial pressures influencing silver and gold prices, exploring the historical context of US monetary and fiscal policies. From the abandonment of the gold standard to contemporary issues, we dissect the complexities and ponder the potential alternate realities, inviting reflection on the broader implications beyond Nixon’s era. Tune in for a thought-provoking discussion that challenges conventional narratives and sheds light on the forces shaping our economic landscape.

RONS BASEMENT Website & Community FORUM:
https://www.ronsbasement.com/forum/

**SUBSCRIBE**: https://www.youtube.com/channel/UC7KRV9tVt7JqaSO3t6ifAsA?sub_confirmation=1
**FOLLOW ON 𝕏 (Formerly Twitter)** : https://twitter.com/BasementRon
**FOLLOW ON SPOTIFY**: https://open.spotify.com/show/3AcS5O5y8GrnBEdsL92VTI
**FOLLOW ON RUMBLE**: https://rumble.com/c/c-4565586

RONS BASEMENT “MERCH”ppl
“Blindfolded BEAR” T-Shirts, Hats, Mugs….
https://ronsbasementshop.myspreadshop.com/

You Can Donate To *RONS BASEMENT* Here:
https://www.paypal.me/RONSBASEMENT
THANK YOU!

Thanks to our Silver & Gold Bullion Dealer Sponsor PIMBEX!
PIMBEX is Best: https://www.pimbex.com/
PLEASE tell them RONS BASEMENT Sent you!
(I do NOT get a commission on your purchase)
PIMBEX ADD: https://youtu.be/Vu1Ru8x84hI

Thanks to our Sponsor FIRST MINING GOLD!
Website: https://firstmininggold.com/
Questions: paul@firstmininggold.com Director of Investor Relations
Stock symbol: OTCQX: FFMGF / TSX: FF / FRANKFURT: FMG

Thanks to our Sponsor FORTUNA SILVER MINES INC.
Website: https://fortunasilver.com/
Questions: info@fortunasilver.com
Stock symbol: NYSE: FSM / TSX: FVI

Paid Promotion Disclosure: RONS BASEMENT YouTube channel is sponsored by Fortuna Silver Mines and First Mining Gold. Any information shared in this video should not be construed as investment advice or a recommendation to buy or sell the company stock (informational purposes only). Ron does own a significant number of Fortuna Silver Mines and First Mining Gold shares, which were purchased years before the commencement of this sponsorship arrangement.

#silver, #silverprice, #gold, #goldprice, #ronsbasement, #economy, #platinum, #federalreserve, #fed, #silverstacking, #goldmines, #wallstreet, #preciousmetals, #housingmarket, #crypto, #cryptocurrency, #stockmarket, #foodshortages, #bitcoin, #jeromepowell, #stagflation, #usdebt, #bullion, #economiccrisis, #prepper, #dedollarization, #stockmarketcrash, #inflation, #geopolitics

CONTACTS:
Ron
RonsBasementSilver@gmail.com
Suzie
RonsBasementSuzie@gmail.com

**Informational purposes only. Do not buy or sell anything, make any type of investment decision, adopt a puppy, get engaged, or do anything based upon the information I share with you.**

My current mining stock portfolio: EQX, FSM, FFMGF, BBBXF, USAS, TSRMF, FSXLF, SSVRF, CAPTF, DOLLF, SILEF, AGMRF, WRLGF, GLDG in order of highest to lowest position size.
ALSO hold positions in: MMM, NOK

BUYING GOLD AND SILVER FOR BEGINNERS
SILVER SPOT PRICE
GOLD AND SILVER
SILVER STACKING
SILVER NEWS
GOLD SPOT PRICE
SPOT SILVER
SILVER BULLION
SILVER SPOT PRICE TODAY
GOLD SPOT PRICE TODAY
INVESTING GOLD
PRECIOUS METALS PRICES
KITCO SPOT GOLD
PRICE OF GOLD AND SILVER
PRICE OF SILVER PER GRAM
GOLD AND SILVER SPOT PRICE
SILVER OZ PRICE
PRICE OF GOLD AND SILVER TODAY
GOLD PRICE OZ
PIMBEX
BULLION
SILVER NEWS TODAY
US DEBT CLOCK
SILVER PRICE PREDICTION
Equinox Gold EQX
Fortuna Silver FSM
First Mining Gold FFMGF
Brixton Metals BBBXF
America’s Gold & Silver USAS
Fosterville South Exploration FSXLF
Treasury Metals TSRMF
Kinross Gold KGC
Barrick Gold GOLD
Hecla HL
First Magestic AG
Newmont NEM
Agnico Eagle AEM
Arizona Metals AZMCF
Snowline Gold SNWGF
GDX
GDXJ
HUI Index
NUGT
JNUG
Wall Street Silver
Nasdaq
Stock market
Russel 2000
Dow Jones
Federal Reserve Bank

I follow Lynette Zang, Andy Schectman, Rick Rule, Keith Neumeyer, Frank Giustra, Michael Gentile, Eric Sprott, Larry Lepard, Kitco, Stansberry, Brent Cooke, Peter Grandich, David Hunter, Daniela Cambone, John Feneck, Bill Powers, Stansberry Research, Rafi Farber, Charles Nenner, Greg Hunter, Goldman Sachs, Tucker Carlson, Joe Rogan, Peter Schiff, Andy Schectman, Michael Oliver, Kai Hoffman, Steven Van Metre, Jim Rickards, Russel Brand, Gerald Celente, Ed Steer, Ron Paul, J Bravo, Michael Pento, Gregory Mannarino, Lyn Alden, Heresy Financial, Sorelle Amore, I LOVE PROSPERITY, Gareth Soloway, Graham Stephan, Parker Schnabel, Jeffrey Gundlach, Michael Maloney, Alasdair Macleod, Bill Holter

The silver price and gold price are certainly not at a top today we’re joined by our good friend Orin from the silver hermit YouTube channel he has a great story about a recent visit he made to a bullion dealer but on top of that we’re going to dive into silver and gold price

Manipulation we know that it’s been going on but the big question is why and Orin has some great information he’s going to share with us about why the price of silver and gold are manipulated Orin welcome to Ron baceman hello Ron it’s a pleasure to be here as always

Well so you you made a trip to the bullion dealer and uh you had some interesting observations I understand yeah yeah like like a good stacker well last week after we finished our interview I I I bought the dip like a good stacker is supposed to do and a few

Days later I I went to go visit the guy and pick up uh and pick up a few the few ounces only a few ounces that I bought and and it’s you know I always talk to the person I I try to to understand ER what what he thinks about the market in

General and I should point out this is a guy who who usually deals with uh with Collectibles but this time he had like really big sale and had some uh uh some some a silver coins uh which were you know modestly priced and and and and and

Had good value so I so I took advantage of the opportunity but what I was absolutely amazed was just how negative he was about the price of gold and silver in general I mean like this is a guy okay he deals mainly with Collectibles I understand that and he

Tries to capture you know the premium of Collectibles but of collectible coins but but he was so so negative I mean like I couldn’t he wouldn’t he wouldn’t even hear uh it wouldn’t let me even explain why I believe that the price of gold and silver is destined to rise and

You wouldn’t hear of it it it was just amazing and and I couldn’t help but thinking that you know sometimes uh although it’s anecdotal but stuff like that you know sometimes it’s a contrarian indicator I mean like it shows you that the sentiment is so low

It’s so bad if even the guys who deal with with gold and silver are are so pessimistic that maybe we’re close to a bottom you know it’s interesting you bring that up uh Orin because I was listening to an analyst who’s getting a lot of attention recently here in the

United States his name’s Gary Savage and he talked about how a lot of times that that feeling that frustration that a lot of silver and gold investors and especially PR ious metal Mining stock investors that frustration builds the base for future price gains I mean I’ve also heard people say that we’re

Demoralized right we’ve had the rug pulled out from underneath us so many times so uh uh I’ll use the example maybe the silver lining in this horrible sentiment is the fact that people are capitulating is another term that’s often used for it um you know that’s the professional term people use

Capitulation when when you see when by the way usually when it comes to the price you usually see this this terrible week this uh this candle just dropping down usually it means that that uh you’re you’re this is the bottom you’re close to a bottom people are just giving

Up but with gold and silver it’s more complex than that it’s not a single day that you can point it it’s a process but I think I think we’re close to about them really yeah yeah yeah it feels like uh I can say personally like the thought

Of and I’ll just be honest I own a lot of precious metal mining stocks and it has been absolutely brutal over the last two or three years and over the last year I did add to some of my positions but they’re back down again so low and

The thought of putting any more money into these stocks is just uh it makes me feel sick to my stomach uh and but then I think is that a sign because I’ve heard people say the the best trades that you make are the ones that are the

Absolute hardest to make so you know hopefully hopefully my sickness in my stomach has to do with the uh a turning point right yeah I want to tell people look if it’s too hard for you to buy at the bottom well at the very least don’t sell

Yeah at the very least I mean like that’s if if at least you don’t sell at the bottom you’ve you’ve already done a great thing if you can act actually you know have the guts to to add to your position a bit when it looks like it

Can’t go down any further that perhaps it will turn out to be a good deal I we we cannot of course guarantee anything but at least don’t don’t sell because yeah like logic dictates that the price of gold and silver is destined to rise I mean like they have all the fundamental

Conditions are there it’s just the price action isn’t happening yet and of course that leads us to the topic of manipulation and if you’re looking to buy gold silver or platinum do yourself a favor and check out pinck the online precious metals bullan dealer and sponsor of Ron’s basement I was a happy

Customer before they offer to support the channel you’ll find they have the best prices quality and service I think pinck is best and you will too and be sure to tell him that you’re from Ron’s basement and we want to talk today about the the history of the manipulation and

The point of this history is to demonstrate that there is the US government has a a strong ER reason it has a strong incentive to control the price of gold and silver and that’s a long historic process that uh took place started many years ago and it progressed

Gradually until what we’re seeing today which is the price getting slammed almost on a daily basis yeah yeah you had an very interesting chart you showed in a previous video of how what was it 10: a.m. eastern time almost every day or a lot of days you can see a slam at the

Comx and the silver price where do you want to start I know history you know we have 4,000 years of History if we talk about silver in particular where do you think a good place to start is if we’re gonna we’re gonna we’re gonna build this

Case uh as to why the price of silver is manipulated and I don’t know if I believe you Orin you’re gonna have to convince me I’ll let you know at the end of the video if you’ve convinced me and don’t you dare don’t you dare I gotta tell everybody you our viewer who’s

Joining us Orin was worried before we came on that he might get a date wrong so if you need to check dates you know there’s a lot of information here yeah uh and we’re we’re talking about you know bigger picture things but we’ll we’ll do our best to get the dates right

Yeah so I think although the history of gold and silver and even the history of manipulations it goes uh quite far back uh you know people may mention the crime of 1873 the coinage act of 1873 where uh you know the try to to demonetize Silver

For the first time well we can go far back but I think the the if the point in time which is which is important to focus on is the end of World War II because that is truly the point in which the let’s say the modern day

Manipulation the the the roots of the modern day manipulation I think you can trace them back to the to the end of World War II and for those of of you who don’t know well you know at the end of World War II the United States was the

Superpower the the the the had no competition and uh militarily financially let me let me throw something in because I think this is a key Point uh the United States also had a majority of the world’s gold at that point is that correct and I think it’s I

Think it’s critical for people to understand the reason we had all that gold is because we had been essentially insulated from any uh combat occurring on our soil so we were able to manufacture a lot of goods but I think what’s fascinating about that is we didn’t want to take payment in currency

Or paper we wanted as I understand it payment in gold which I think says a lot about the value of gold yes of course and and the United States finds itself in the position in which it has most of the gold reserves in the world and European countries for instance they

They have been devastated they’ve lost most of of their wealth fighting this war and their industrial base has been destroyed and they can’t back their currencies with gold because they don’t have enough gold so they come up with h with this Arrangement during the Britain Woods conference which T takes place in

1944 mind you before the the war even ends but there already sniffing out that the war is is coming to an end and they’re starting to think about how how the world is going to look financially after the war so the the agreement is that the United States will back its

Currency with gold and other nations will will back their currencies with dollars and at the time of course after FDR confiscated the gold from US citizens so US citizens are not allowed to hold any gold but foreign governments are are allowed to convert their dollars

To gold at a fixed rate of $35 an ounce okay okay and that’s you know and so the the the post war years begin and at first they’re very prosperous because you know United European countries are rebuilding themselves and they’re producing uh goods and and they’re sending them over to the United States

In order to acquire dollars and US citizens are enjoying this incredible prosperity and postwar I I needless to say postwar years were the 50s were you know a time of tremendous affluence and and growth and and and and even there are say happiness and optimism towards the future but everything good must come

To to an end unfortunately because it turns out that the United States used that privilege that exorbitant privilege that it had thanks to the Bron Woods agreement it probably started issuing too many dollars and started spending the federal government spent too much and that means that inflation started creeping creeping in

At very very slowly at first and during the 1960s you gradually see pressures on the price of gold and this is why the United States set up what we call the the London Gold pool it was set up in the early 60s 1961 if I recall correctly and

The purpose of the London Gold pool it was a group of Nations who each contributed of course led by the United States each contributed some of their gold reserves in order to try to manage the price of gold and keep it at $35 an ounce just as it was stated

During in in the Breton Woods agreement now at the time and and and that operation was was located in London which was a major uh gold trading Hub and every time the price Rose above 35 so they you they sold some some of their reserves into the market to and and

Every time the price went back down so they bought it back and and they tried to manage the the the price this way but you know like some some people may say that’s that’s manipulation but I think it’s it’s somewhat legitimate or at the time it was legitimate because the

Dollar was still backed with gold and there was an agreement and there was an attempt to keep the price more or less it the way it was set in the in the Breton Woods agreement and if if the United States wasn’t issuing too many dollars they would probably be

Successful to it would probably exist till this very day at $35 an ounce I see no reason why it couldn’t it it it could have kept on going just as it it it did back then but as we said there were inflationary pressures and and I think the big culprit this is my

Personal opinion um I think the culprit was Lyndon Johnson because if as you may recall he he’s the the president who’s responsible to the Great Society all those programs uh food stamps extending Social Security ER Medicare social housing social education public education all those all those programs which were intended to you know

Make the American people better off but they cost a lot of money they cost a lot of dollars and also at that time during the 60s we’ve had the Vietnam War which also cost a lot of money so and at the time they used to call it guns and

Butter it means because it was for a long time it was uh people used to say you can you can either have guns or have butter it means that the the government can either go to war or it can invest its its resources in on social programs

It can’t do both and the United States try to do both guns and butter so the deficits translated eventually to inflation and eventually in 1968 the gold pool collapsed they couldn’t they couldn’t keep the price at $35 an ounce anymore and during that time mind you the US lost half of its

Gold reserves trying to keep that the price at Bay so it was it was tremendous and you know H Lyndon Johnson ends his uh his term and Nixon ER enters after him and you know we we always blame Richard Nixon for ending the gold standard in the United States

And and severing the last link between the dollar and gold as he did uh in 1971 but we have to give him credit that just just put yourself for a moment in his shoes he becomes president he enters the over office and he discovers that the

United States has you know has lost so much of its gold reserves and that his predecessor has has signed a bunch of of laws that that has indebted the country for many years to come because you know those programs once once established are very difficult to take back to cut back almost

Impossible so um I I don’t want to absolve Nixon from a responsibility altogether but he was put in quite a difficult situation in which he didn’t want to give up the rest of the United States gold reserves I think in 71 maybe onethird of it was was

Left and um there was pressure of course foreign countries which which knew that uh that that the dollar has been revalued but they still had that right to convert their dollars into gold at the old price of $35 an hour so they started taking advantage of the

Situation and it was led by France by the go by by uh by the way yes the gold the golds France he was he was leading this process of repatriating the gold and and of course there was huge concern that after France did it Other Nation s would

Start doing that because there was huge concern that that the dollar was losing value and indeed in 1971 we have the ni the Nixon shock in which he suspended the convertibility of the dollar into gold and of course at the time he said that it was only temporary but we all

Know 50 years have gone by and what was temporary became very much permanent and this is how we ended up in in the Fiat world a world in which there are no gold back currencies all the currencies or Fiat currencies this is you know history which which is quite

Well known so let me let me ask you a question Orin so at this point the dollar is no longer backed by or Tethered to however you want to say it to gold or silver for that matter from a conceptual perspective I I like to describe it as almost like a

Divorce like when a couple gets divorced maybe a couple uh a married couple that has two children when typically when when they get divorced they aren’t very fond of each other any longer they went from being best friends and you know on the same team to well we’ve got to still

Share respon I don’t really like there’s a reason why they uh is it is it is it reasonably accurate to say that that Nixon divorced the US dollar from gold at that point like oh we know Gold’s still there we we got to take care of

Our gold we have but but the the situation changed the relationship change well obviously the relationship changed yeah that that’s a great analogy I really love that that analogy because uh it was it was an ugly divorce you can say because after after the Nixon shock I say that the gold and silver

Became the adverse series of the dollar just like in an ugly divorce um because from that point on gold and silver when their price is rising it it gives an indication of how much value the the dollar has lost and you know when people compare the price of gold

Back then which which at the time was supposed to be $35 according to the Brittain Woods agreement and went in 1971 went up to something like I think 41 or $42 an ounce when when the link was finally severed and that’s an indication that the dollar is losing value

And indeed in the years after 1971 the the gold price started Rising considerably and you know it started Rising $70 $100 $120 I think it was around that time 1973 1974 when the the the public started pressuring ER the government ER to make gold ownership legal again to legalize the ownership

The private ownership of gold because they were seeing the price just rising and rising and Rising it and they were not allowed to to to participate in the party so around that time in 1974 when President Gerald Ford is H forced I believe he was forced to

Legalize gold again but we can see we have this incredible piece of evidence which was Unearthed by Wikileaks it’s a cable which was sent from diplomats American diplomats in in London which had a meeting with major bullion dealers in London and they are sending a cable back to the state department in

Washington DC and they’re telling them that the bullan dealers have told us that if we set up a a commodity exchange which deals with gold a a a gold Futures Contract that will probably attract the majority of capital instead of being invested in physical gold and also that this will inject

Volatility into the market and that will deter H the average person from holding gold on the long term so and we can see that the the the trading in Gold Futures Contract started shortly after in the beginning beginning of 1975 just as ownership of gold was legalized again and we can only assume

That um the formation of that Futures Contract was intended in order to prevent the price from you know going berserk and to prevent the American public from exercising its right now it was legal to own gold to deter them from buying too much gold so so we’ll we’ll we’ll demoralize them we’ll inject

Enough volatility into this Market that they think I’ve had enough I give up I don’t want to deal with this so basically we had the divorce that occurred in 1971 between the dollar in Gold um American citizens and around the the early 19774 I I think it was uh since they

Couldn’t own Gold by owning the dollar anymore were allowed to own physical gold the price of gold started to go up the government said we need to do something about this uh we need a mechanism by which we can uh uh discourage people from owning so the the

Futures markets were established and and we do have proof based on some intercepted cables that went on we for sure we know for sure they were interested in it we know for sure that they were concerned now I don’t think the manipulation back then was as active as

It is today I think it was a process but the fundament the foundations of the manipulation were laid back then and we know for sure that they were aware of it and that they were hoping that the the the commodity exchange will will H keep keep the price at Bay yeah yeah

Interesting now historically we know that at first it seemed to succeed it it it looked like it was working because the price fell during that year the price fell like considerably from $195 per ounce all the way to $100 per ounce it was a huge huge correction 50

Almost 50% correction just just imagine how it feels to be a gold owner in 1975 it has it’s just been legalized you run out and you buy some gold and and and and you need to see it like the price dropping by by 50% and and and by

The way inflation was was getting hot at that time and we all remember the 1970s it was a time of great inflation and also economy stag nating this is how we got this term stagflation the combination of inflation and stagnation yeah which is which has traditionally been a very fertile

Environment for the silver and gold price the stagflation environment and we’re hearing I just want to throw this in and we’ll get back to our history lesson but we’re hearing more and more mainstream media right now talking about us being in a in the United States in a stagflationary environment right now see

NBC Yahoo finance Reuters uh Bloomberg they’re all they’re all talk we like to call it the s word here in the basement stagflation um which is no guarantee but it certainly is very fertile soil for the silver price and gold price yes and it makes sense because on one hand you

Have the inflation but other asset classes such as the the stock exchange they usually don’t perform well in an environment of inflation and by the way in recent years people have completely forgot forgotten that people think that the stock market is supposed to protect you from inflation that’s not necessarily true because because

Companies they get pinched they they on one hand they can’t raise prices too much because people can’t afford it but their costs are rising regardless so companies if inflation is severe enough you you reach that point in which companies their their margins are getting squeezed and usually that’s not

A good thing for the gods for the stock market and and what we’re seeing right now in in the stock market which is reaching new all-time highs that’s that’s an anomaly that’s not something I would expect in a in an environment of St flation and this is why I’m still

Pessimistic about the stock market yes yeah Y and what about and what about monetary policy from the FED in a stagflationary environment on one hand they have inflation which would require a tightening of monetary policy but if they tighten the monetary policy well then that makes the recession worse so

They run over and now they got to fight the recession so they have to loosen monetary policy but that makes the inflation worse it’s almost like the FED gets painted into a corner or or put in a box uh as I like to show with my jome

Pobox where he’s you know he’s stuck in a box and and either way uh either of those options I think create a uh a lucrative environment for the precious metals prices yeah precisely and and what we see is usually you get the worst of each of of of the

Two Worlds because they can’t fight inflation seriously and they can’t prevent the recession Ser they can’t do anything they’re like stuck and and we’ve had that during the 70s too there was there was back then the Fed was every time it was Raising in rates a bit trying to fight inflation but was

Making the economy worse so they they they they couldn’t really do that all the way in so inflation ended up Rising all the way to I think 40 14% by late 1970s by 1980 and and uh uh the the the price of gold as we said it went ballistic it

Went absolutely crazy and it went all the way we we we just said that it had a correction all the way to $100 well in in the following years it Rose all the way to $800 an ounce by 1980 and that was like the blowoff top for

Gold and this happened in in an environment in which a a inflation is rising and the Federal Reserve is chasing the inflation but not unable like to catch it because it was all always behind the curve and it was it was not over until Paul vuler fed Sher Paul vuler

Entered office and he jacked up he he was courageous enough to jack up rates all the way to 20% Which today it sounds inconceivable to have rates at 20% like people are suffering right now rates are around 5% it’s already considered the the the the most radical fed hiking cycle ever and just

Imagine that if you we really wanted to fight inflation like Paul vuler did we had to increase rates now four times four times more than they are right now that’s incredible yeah yeah but this is what they had back then and it was very difficult and it led to a recession

But it saved the dollar at least for a while it saved the dollar it it put an end to inflation it it of course the price of gold topped at $800 and the world the United States went back to to growth and then you had you

Know the the good old 80s and the good old 90s and you had growth and and and it seems as though it seemed back then like people got used to fiat currency that it’s going to be and and I think for a time people completely forgot about gold and silver

Yeah I want to I want to I want to interrupt you because I think that what you just said is a a keen Insight that I read in your writings about this that kind of the 80s and 90s um people uh became comfortable kind of got

Put to sleep with this idea that hey you know what we don’t really need gold or we don’t need to back our currency look how great things are going it was a very um lucrative period of time overall for the United States right we were we were

Fighting and then winning the Cold War there was a lot of globalization going on we had the expansion of the Petro dollar uh we were definitely I think in a period of military uh strength uh throughout the world so it kind of put everybody to sleep and uh but but led to

The buildup of some really massive problems which are potentially coming to a head right now not the least of which Orin is the fact that the country where I live has $ 34 trillion dollar in debt yeah and it’s growing rapidly yes thanks thanks for the good news

Yeah well you see I think that such problems they they tend to Fester it’s like they grow you know when when you’re not not when you don’t notice it they’re gradually gradually growing and and this is this is what we had during the 80s and 90s and and then in the 2000s you

See again inflation starting to you know to pick up and especially during the the housing bubble in the United States which which which of course building houses also needs all sorts of material so there was a lot of demand for materials back then so inflation was

Starting to creep up and gold and silver finally put in a bottom in the year 2000 and started rising and they had another huge run up like from 2000 all the way to 2011 ER the price of gold again like did uh went up Eightfold and and silver went

Up 10 fold now there in the middle people kind of forget it was a a huge drop during the the the financial crisis of 2008 a but people responded to that financial crisis because you know the FED started QE they started 0% interest rates these policies began

Back then and people were afraid that inflation was going to get out of hand people were really concerned about inflation back then ER which it didn’t materialize in hindsight it didn’t it didn’t translate into commodity consumer goods you have to understand yes there was inflation inflation is the expansion

Of the money supply of course and the money supply was expanding all the while but it wasn’t flowing into Commodities it was flowing into the stock market it was flowing into uh bond market the bond market it was flowing into assets so after a few

Years in 2011 more or less it was it was when people realized that okay we’re not seeing it in in the supermarket so maybe we’re a bit too concerned about inflation and then we had this huge drop in the prices the prices of Commodities and also of course the top in gold and

Silver and this huge huge correction that we’ve seen in in gold and silver but again inflation was there all the time it was just you know it didn’t go to the direction the newly created money didn’t flow in the direction that we expected it but you know it has this

Tendency to flow around and what goes around what goes around comes around as you say in the US So eventually after uh after uh 2020 we started seeing that that money trickle into Commodities and we started seeing that inflation in the supermarket but the interesting point is

This now imagine that you are the chairman of the Federal Reserve and you have you know the lesson of what happened in the N during the 1970s and you remember that your predecessors they had to hike rates all the way to 20% to fight that inflation

And and that the price of gold and silver these were the the the the canaries in the coal mine these were the the the indicators that the the dollar was losing value so naturally if you your a Fed chair you will have a strong incentive especially after you started

QE and 0% interest rates to try and control the price of gold and silver I mean like the the incentive is there it’s so clear yeah yeah yeah and even even if you zoom out and look at now what’s going on in the world right with this bifurcation that’s occurring um

Does it does it feel like uh there’s a saying here in the United States custers last stand right like it’s is like the us trying we we’ll we’ll do whatever it takes to to try to keep the price of gold and silver down but because of potentially because of Market forces

Beyond the control of even the fed or the United States you know when you talk about the bricks countries and the uh in the economic power that they’re starting now to represent there may come a day I mean are we are we possibly at the you know Custer Last Stand For Trying to

Trying to control the price of gold because let’s face it Orin over the last you know couple years the last year especially in the face of a strong Dollar in the face of relatively High interest rates uh the gold price in particular has hung in there and

Actually done I mean even in US dollars I I like to you you know we’re a Stones Throw right now from an all-time high again um are are we at the last potentially the last you know chapter of this book I think it’s it’s a good time to stress and to emphasize that

Having um the the world Reserve currency the global Reserve currency is is an extreme privilege especially when it’s a fiat currency it means that you can print all you want and you can you can deficit spend all you want and you can extract resources from all around the world with with no

Ramifications there’s no adverse consequences to printing more money and spending more as a matter of fact us lawmakers in our day and age they have reached this this point in which of course they don’t have any fiscal respons possibility whatsoever but also they have this mentality as though it is

Important for them to spend as much as possible because the world needs our dollars so we need to spend them into existence in order to supply the world with dollars that’s that’s what people are saying that’s what economists are saying nowadays and they’re doing it and

Yeah nonstop and and and of course it leads to inflation but so long as you can uh control the price of Commodities and especially of precious metals then you can it’s not clear to the public that this inflation exists it’s not clear that the dollar is losing value you can

Pretend as though it’s not happening and you can extend the life of the Fiat US Dollar by a few more years and I think that’s that’s what is behind this manipulation this is a huge huge battle and we’re seeing the fact that so many resources are are put into the the the

The attempt to to control the price of gold and silver should be an indication that it’s an important thing that this is not this is no some some trivial thing this is like this is like the the power and the ability of the United States to project power abroad rests on

The the ability to to use the dollar to weaponize the dollar and we we’ve seen that in sanctions against Russia and now it doesn’t matter on which side of of of this fight you are you can be very patriotic in regards to the United

States I am too I am I for the United States I’m I certainly don’t support Russia and I don’t support China I don’t support Iran of course of course I don’t but I have to admit that the United States is abusing this power and the

Price of it is going to first of all it translate to inflation and and the cost of living for each and every one of us and it’s it’s really making life really difficult for for everyday people yeah but also they risk losing that power because they’re abusing that power if

They weren’t Abus that power they could keep the US dollar as as the global Reserve currency indefinitely but because they are abusing it you have the bricks Nation trying and and I think that the the fight on gold on the dollar I think it stands at the center of this conflict

And no politician will ever admit it but I think deep down this is the cause of the conflict we’re seeing right now against Russia against although it’s not declared against China here in the Middle East regrettably and as a matter of fact trying to preserve the dollar it it as the global

Reserve currency is leading us to World War I so so when I criticize the US government for what it’s doing people should understand I’m doing that out of concern to the American people not only to the to the entire West to the the the future of Western Civilization including

My own country yeah yeah well because because I’m a patriotic American I am willing to do what my Constitution uh allows for which is to if I think something is not right with what’s going on with what my government’s doing right now I can speak up about it and I don’t

Agree you know I I I I I’ll to me the analogy of what’s going on with this spending of money uh in in the in the dollar and everything it’s like you’re it’s like you’ve given I mean we just the system like you said this this Global Reserve currency this privilege

That was given you know to the United States and before that it was England before that it was the Dutch and the Spanish right this has happened obviously many times over history it requires a an immense amount of discipline and um and and I don’t think that I don’t think that most Americans

Would exp would describe our politicians in Washington as disciplined um so we do have the right because I am a patriotic American and I I do care about my kids about your kids about everybody in the world uh I I want to speak up and say I don’t necessarily agree with it so

Doesn’t mean that I’m not patriotic um it means that I am patriotic I think uh and I will not go on about this but I think most Americans I can tell you from living here right in the middle of the country in St Lewis Missouri are asleep

About what’s going on they have no clue and I’m not talking like three out of four Orin I’m talking about like you know 98 out of 100 are just like oblivious to what’s to what’s going on in the world right now and it’s real scary I want to tell you another

Thing when I speak about returning to a gold standard or silver standard and you know remonetized gold and silver I know it’s going to come at at a cost at a huge cost to everyone in the west and especially to the US to the American people they’re not going to be able to

Continue to live at the high standard that they are used to yeah this is for many people it will lead to reduction in their standard of of of living it’s going to be very painful I I don’t want to you know I can’t sugarcoat it yeah I can’t

Sugarcoat it exactly and but I think that in the long run they’re better off doing that yeah I think right now they’re on a trajectory to complete disaster like I think the sooner they they stop the printing and start you know going back to some kind of fiscal responsibility the sooner things are

Going to be able to return to normal because eventually growth will return yeah yeah eventually even if your country is not going to be as powerful even if your standard of living is going to be lower but you still everyone is going to be better off going back to

Sound money eventually now of course it’s like it’s like you know going on a diet it hurts at first of course it’s difficult at first but on the long run you’re better off you’ll be healthier you’ll be better off and this is something which you know people don’t want to hear because they

Want they want to enjoy themselves right now right here and now they don’t want to hear that they need to go through a few years of suffering in order to enjoy later I’m afraid that that the way we we’ve become accustomed to we’ve got we become accustomed to having everything

We want right here right now but we need to learn again how to postpone our satisfaction and this is this is the meaning of being an adult yeah yeah well one way uh Orin that you and I can postpone our satisfaction is here I’ll hold this one up that’s a 10 o silver

Bar right when I convert Fiat money into a 10 oz silver bar this uh uh should at any point in the future allow me to harvest some satisfaction from this be it if I want to use it for a month’s worth of groceries or a bunch of them

Myself yeah right I mean the that’s our way we we have you know this is postponed gratification or postponed I forget yeah right it’s wealth it’s the opposite of debt right I could have I could have spent that money uh that $250 us or I could have even spent an

Additional $250 us and gone into debt which is the opposite of this and unfortunately on a big simple macro level that’s the position that the United States and a lot of the western other Western countries R are in at the same time you know we have uh we have

Racked up this debt that really uh can never be paid off you know and I think that’s a a certain on a worldwide basis whatever the number is 300 or 130 trillion 300 trillion that there’s all this debt out there that it it’s it’s sad because for each dollar of that debt

Somebody thinks they’re going to get their money back but the reality is it’s not going to happen yes exactly I really you’ve said it I can’t add anything to this mic drop right that’s it look I’m I’m just going to say in order to wrap this topic look there’s ample evidence that

There is reason for manipulation of precious metals there there is a strong incentive to manipulate the price of gold and silver there is the means as we’ve spoken last time the means to do that so I think it’s a you know the case is very clear ER and and anyone who wants to

Argue with what I believe is is beyond doubt that this manipulation exists willing to just needs to have a look at the and try and try to explain how all these things are uh are happening I think it’s going to be very difficult for them to explain uh what

We’re seeing I think this is the the first instance in history of inflation if if if the price of gold and silver doesn’t rise in in the coming years it’s going to be the first instance in history of inflation without gold and silver Rising so it’s yeah well yeah I

I’ll I’ll throw this in Orin because we’ve heard this probably uh over 3,000 times over the last couple years but the world central banks uh are buying near record level amounts of gold so what does that tell us huh what does that tell us hey um on

Behalf of the viewer who’s joined us today right you have imparted uh a keen insight and a great amount of knowledge regarding not only just the history of the silver and gold price manipulation why it occurred uh but also I think we did a good job of throwing in some

Current uh events and how it applies as well uh thank you okay if people or if the person who’s joining us right now wants to learn more about you they can go to your YouTube channel channel the silver hermit I’d highly recommend it um I consider Orin a friend and I consider

His uh content that he puts out to be second to none but you also have a substack and what else do you want any any final words you wantan to you want to give to our viewer Orin yes I I will repeat what I said last week regarding

Uh the price of look you need to develop your conviction you need to develop your your strength and you need to look at the bigger picture and and the the the grand scheme of things and even if it takes quite a while for the for the

Price of gold and silver to reflect the rate of inflation that we’re seeing I believe that eventually it will happen simply because this is what the laws of Economics dictate and I I’m a keen believer I believe in the laws of Economics I haven’t given up on them yet

So thank you for having me well Orin it’s our pleasure and uh as you said that those final words I thought you know unless it’s like the law of gravity right I mean there’s certain laws of the of the of nature that apply and in the end you know an

Ounce of silver is an ounce of silver and an ounce of gold is an ounce of gold that’s the value of what it is it’s easy for us to get distracted with price and you know compare it and dollar but at the end of the day uh it’s an ounce of

Silver and it’s an ounce of gold and uh it’s been great having you here can we look forward to seeing you again in the basement always always whenever you want to have me whenever you’ll have me I’ll come on all right thank you sir have a great day you too Fortuna Silver Mines

Is a global intermediate gold and silver producer since 2005 Fortuna’s best-in-class management has delivered impressive growth and profits Fortuna’s solid financial position and operational expertise allows for performance in any precious metal metal price cycle and provides a foundation from which to harvest great profits in more favorable Metals markets investing in Fortuna is

An investment in quality long-term sustainable production of in demand precious and base medals first mining gold is a development company advancing two of the largest gold projects in Canada spring pole in Ontario and dup par located in Quebec each already has five million ounces of gold reserves but exploration initiatives are underway at

Both projects to find even more gold first mining is well financed has zero debt and owns an interest in four additional Canadian gold development projects