hey everyone welcome to bald guy money I am bald guy and this week was a Whopper for silver it was up nearly 10% on the week outperforming both gold and the S&P 500 which I told you would have a temporary bounce leading into US interest rate cuts and for a while after and what this past week showed us was that despite a lot of the negative or bearish talk from Silver's critics the fact is that the recent pullback we saw in the price of silver was exactly what I said it was in last week's video and that was that it was an opportunity to buy not something to be stressed out about because silver so far in 2024 is not only outperforming all the major stock indexes including NASDAQ but it's even outperformed gold so far in 2024 with the potential to continue doing so as we move into 2025 if my prediction of $42 an ounce silver by the end of next year comes true now does that mean we are officially Off to the Races and now is your last chance to buy silver before we see the next major run up in price that I've been talking about here on the channel for the last couple months well I'd say that's basically a coin toss right now because despite the fact that I've said in past videos that we'd see the next move up in the last three months of 2024 I've been very consistent with that message the possibility of the US Federal Reserve cutting rates deeper and quicker than expected to boost the failing economy May accelerate price action for golden silver starting right now in September on the flip side of that because I have to present the other side of the argument because I cannot predict what Jerome Powell will say or do on Wednesday if the Federal Reserve comes out so Jerome Powell and says everything is okay we only need to cut by 25 basis points which in simple terms repes presents one single rate cut it could mean we will temporarily give back some of last week's gains creating yet another opportunity that I hope the people who were waiting last time don't ignore this time around now if I'm asked to pick a side of the coin and say what I think is going to happen to the price of silver over the short term what I will say is this I think the price of silver will hold up a bit better than the last time we hit $30 an ounce and the reason for that is many people forget that the coins and bars that people are holding in their Stacks in their houses represent silver Supply and a lot of that supply that people owned that was purchased in 2012 and 2020 right around the $30 level started to come online as it was sold during that period marked here on the chart with the red circle and I know this because I saw a lot of my YouTube colleagues interviewing their local coin shop dealers about it and they wereing talking ad nauseum about the fact that people were showing up trying to unload their silver bars and coins at $30 an ounce but my suspicion today is and why I think it's different this time around is because I think a lot of the people who were waiting for $30 an ounce silver to come back again have already visited their local coin shops they've already contacted online dealers and they've already sold what it is they were planning to sell once they reached that nominal Break Even Point again which is of course not including inflation and really a lot of that was purchased by people like you watching videos like this people who understand that this is the worst time to sell silver to pay for a bathroom renovation and when you add the fact that a lot of the paper shorts have been squeezed out of the market now and those Traders are likely fearful to short silver again and when I say short I mean bet against the price of silver and they're again they're afraid to do that leading into US interest rate Cuts it's really why I think things will start to get interesting for the price of silver from here so in the spirit of keeping things interesting for silver in this video I want to do something that hundreds of you asked me to do in the comments section of my video two weeks ago and that is share the silver ownership tiers that rank silver owners from entrylevel knights all the way up to the big stacking Kings and once we're done that I have a great viewer question to answer on the topic of bricks and how they could influence the prices of gold and silver and that is a mustat because what I have to say might open your eyes to some of the things that I don't think many stackers are paying attention to now just before we dive in I have a new free article for you at www.summit.com on the topic of how much gold and silver I think people need to have as a first stacking Target what it will protect you from as well as some anal is of how these numbers compare to my 2021 figures and for my American viewers please remember that if you are looking to buy golden silver before Wednesday's interest rate decision please give Summit medals a shot at earning your business we currently have deals on the items you see here on the screen at our website those deals end today so I'll leave a link to the site along with my article in the video description below so you can see for yourselves but that's www.summit.com for great prices and great service please check it out okay so let's get into the ranking of silver owners stackers investors I don't care what it is you call yourselves what matters to me is that we agree on the importance of owning precious metals at a pivotal Moment Like This and like I said two weeks ago it's a shame that things like Bitcoin and I'm showing it here on the screen now has a system that ranks owners in tiers to help them understand where they are in relation to other own owners and that Timeless assets like gold and silver do not have this so to reflect the history of gold and silver as real money we ranked gold owners based on the scale of medieval nobility just like you see on the screen here and for those of you who weren't able to watch that video I do encourage you to go back and watch the entire thing but here is how those rankings broke down for gold owners from the entrylevel knights all the way up to the level of gold stacking King now as I reveal the first level of silver stackers I want to say that I have adjusted the ranking and the amounts needed to get to the different ranks based on the scarcity of silver relative to gold as well as the fact that most upper tier stackers gravitate towards gold due to the value concentration as a result of the gold to Silver ratio which currently stands at 1 ounce of gold to about 84 ounces of silver so if you're looking for a deal in Precious Metals I think this gold to Silver ratio is definitely telling us something anyhow what I will say about these first three tiers is this is where you are going to find most silver stackers people who have been priced out of gold especially now considering where the price of gold is relative to incomes and savings rates but these people still want to protect themselves from the incoming US dollar and fiat currency debasement that I've said is on the way as governments print money not only to stimulate their failing economies but also also pay back debts that can't be covered by tax revenues simply because they spend more than they take in now as you can see here I recognize entrylevel stackers who are just making their first purchases at the Night level from having 10 to 25 troy ounces of silver with the Lord level holding between 25 and 100 ounces of silver and the Barron level between 100 and 500 Tri o of silver and before I move on to the next levels what I will say here is if we are using this scale to help us set stacking targets I would encourage the majority of you watching this video right now who are not in that Baron level to try your best to get into that Baron level because that will provide over the long-term tangible security for you in the case of a real emergency now moving on to the next three levels you have VI count count and Marquee and maybe some of you have landed in this territory instead of being Marquee dad which would be an undesirable title in my opinion maybe you are marquee dver and the people in this group are your typical millionaires next door they have had very respectable careers done very well for themselves by all accounts but due to having a low level of trust in the financial system at large have decided to allocate a certain amount of money to Precious Metals instead of squirreling everything away in a 401k with the majority of these stackers at least based on my estimations likely Landing in the count level which means that today they have roughly 60 to $150,000 worth of silver in their stack or precious metals portfolio moving on and just before I reveal the top tiers for silver owners I want to remind you all of what I said when I showed you this for gold and that is these next levels are very rare these are levels for the elites they incl include multi-millionaires and institutional investors like Eric Sprat who was a Canadian investor billionaire and a man who is rumored to have as much as 5 million troy ounces of silver so when we're talking about this Elite group of people to enter you need to have a minimum of 10,000 troy ounces of silver with the King level starting at 1 million Troy o of silver and going up to a ceiling around 10 million Troy o which is in fact the upper range of what Mr Sprout is rumored to own and for those of you wondering yes there have been people in history who have amassed silver Stacks larger than 10 million troy ounces and some of you may be shouting at the screen right now the Hunt Brothers yes the Hunt Brothers they purchased around 100 million troy ounces of silver in the 1980s which at the time was estimated to be about a third of the world's Supply but the reality today is and why I ended this list at 10 million troy ounces and didn't make it higher is that most billionaires tend to favor gold due to lower volatility its status as a tier one asset as well as the fact that they see central banks building a very sturdy price floor underneath it that said there are still many wealthy people who recognize the importance of silver both as a monetary medal that can save your behind in an emergency much like the silver stackers of turkey who have seen the value of silver in the Turkish L appreciate more than 2,000% over the last 10 years out outpacing their insane levels of inflation and hello to all of my my Turkish viewers out there but what these very wealthy silver owners recognize as well is that silver is also an important ingredient in Industry which with the innovation of this new Samsung battery I've read so much about May propel demand in Industry to new heights in the coming years as that Innovation slowly trickles into the hands of consumers so please let me know what you thought about these rankings do you think I got the explanations of the tiers correct do you think I put the right profiles in the right places please let me know in the comments section below but with that covered it's time for this video's viewer question and also while you're in the comment section remember you can submit your questions in the comment section of every video I do I cover one question in each video and you never know yours may be the next one I answer and this week's question comes from B sers and Mr sers would like to know what I make of the potential bricks gold back currency a possible revaluation of gold and if the West will follow suit in adopting a new gold standard and revaluing gold now I get this question a lot and I have to say that it's a bit surprising to me just how often it comes up because for a community and I'm referring to the precious metals community of course here that is so skeptical of government and dislikes government intervention it's hard for me to understand why so many gold and silver stackers think that government intervention in the price of gold in the value of gold would be a good thing especially when I recently demonstrated how the USA's supposed gold standard from 1944 to 1971 was nothing more than a ticket for the USA to devalue its currency while keeping the US dollar price of gold artificially low and unable to react to real inflation due to the internationally accepted Peg of $35 us to one Tri ounce of gold so as I start answering this question let me please make it perfectly clear that this is not only something that we should not Embrace as a community or as people eager to protect the value of their savings with the help of precious metals it is in fact something we should be extremely skeptical of if not against because an organization of countries that doesn't exactly have a reputation for treating their citizens very well has absolutely no interest in the well-being of people outside of their borders and speaking for myself as a person who is skeptical of most things which is probably what attracted me to gold and silver to begin with I'm not sure that the bricks aren't trying to pull off the same confidence game that the United States successfully pulled off in the Breton Woods agreement that would not only allow them to export inflation to the several countries lining up to participate in bricks and the Chinese belt and Road initiative much like the United States currently does via the global US dollar Reserve System but also cause a long-term suppression in gold prices not like the ones we talk about being executed by the big Banks who are spoofing the metals market today but the very real one that I just showed you and I'll switch back to that graphic right now that was forced upon the people in the 27-year period following the Breton Woods agreement until Nixon finally admitted that the entire thing was basically a scam and since I have probably the best educated viewers of any precious metals Channel on YouTube I leave it for you to decide based on what I've shown you please let me know do you think Brick's involvement in the prices of gold and silver is positive or do you think this could be long-term negative now to answer Mr siver's question of whether the West will recognize the revaluation of gold if the brics uses it to back a new currency intended on becoming a substitute to the US dollar I don't think they will in fact I think many governments not only Western ones see this through the same historical lenses that I do because the fact is gold is constantly revaluing itself from Monday to Friday on the free market against the US dollar and recently has been doing a great job of reflecting the shrinking purchasing power of the US dollar now is that free market perfect and totally free of manipulation no it's not and I've covered that in other videos but over the past 12 months gold has been significantly revalued in response to inflation and expected debasement of the US dollar going from $1,900 an ounce all the way up to nearly $2,600 an ounce where we are today and that ladies and gentlemen is a phenomenon that can only function properly in the absence of a gold standard an absence that has allowed China arguably the lead country of the bricks to grow rapidly thanks to the manipulation of its currency which has created a stable rate of exchange with the US dollar and made Chinese products attractive from a price point of view for many years now so as a secondary layer to that answer I see major barriers for bricks countries like China in implementing this system in the same way the US dollar system has been implemented and the reason is because as gold appreciates in value it would make them less competitive Chinese Goods that is uh it would make them less competitive versus Goods coming from other countries in the global economy so ultimately what I think the bricks unit because it is called the unit right will play if it is introduced in the next year so so this year or next year is as a medium of exchange for Commodities between different nations and not necessarily something we'll be carrying around in our pockets so Mr sers I am not sure if I answered your question as well as you were expecting but I did want to take this opportunity to drop some truth bombs on the bricks Fanboys because as messed up as things are in the west right now I think it's important to remain optimistic and determined to help fix problems and educate people on the benefits of real money as well as the pitfalls associated with embrace political and economic ideologies that have caused nothing but pain and suffering throughout history we can get back to the way of life that our grandfathers and great-grandfathers fought for on the beaches of Normandy and in the skies of Korea because the grass may look greener on the other side today but let me tell you I think those who embrace the bricks way of life will have serious long-term buyers remorse in the future so that's it for this video I want to thank you all for taking the time to watch if you enjoyed the content please remember to leave a like leave a comment leave me a question if you want me to answer a question in a future episode and if you really thought this content was valuable and could be helpful for somebody you know please share this video with family and friends to get the word out and as I just said a moment ago get that education about the importance of real money out there so again to everybody watching thank you so much for joining me today I'm wishing you all a fantastic day ahead and as I say at the end of all of my videos take care of yourselves and take care of each other goodbye