In this engaging conversation, Rick Rule, former President & CEO of Sprott U.S. Holdings, shares his vast expertise in commodities. He discusses how current tariffs are impacting global trade and America’s competitive edge against China. Rick highlights the potential for gold and precious metals amid ongoing currency devaluation. He also delves into the significance of adapting to a bifurcated economy, the influence of AI on labor, and upcoming opportunities in natural resource investments. A must-listen for anyone intrigued by financial trends!
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insights INSIGHT
Currency Debasement and Gold Value
The U.S. is likely to debase its currency to honor debts nominally but not in real terms.
Gold tends to perform well during such periods, as seen during the 1970s when the dollar lost 75% of its purchasing power.
volunteer_activism ADVICE
Prepare Independently for Retirement
Prepare for retirement independently due to government financial challenges.
Save systematically and invest in assets that protect against currency debasement such as precious metals.
insights INSIGHT
Assets That Withstood 1970s Inflation
Companies with pricing power and natural resources performed well during the inflationary 1970s.
Long bonds performed poorly due to fixed yields losing value against rising inflation.
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In this book, David Stockman provides an insider's account of the Reagan administration's fiscal policies and the reasons behind their failure. Stockman details the dueling delusions between President Ronald Reagan and himself: Reagan's economic delusion that taxes could be cut, military spending increased, and the budget balanced without cutting popular domestic programs, and Stockman's political delusion that such cuts could be implemented in the U.S. democratic system. The book highlights the challenges of budgeting during the era of disinflation and the role of Federal Reserve Chairman Paul Volcker. It also discusses the political realities that prevented deep spending cuts and led to significant increases in the national debt.
Interview recorded - 14th of April, 2025
On this episode of the WTFinance podcast I had the pleasure of welcoming back Rick Rule. Rick is the Former President & CEO of Sprott U.S. Holdings with decades of experience in the commodities business.
During our conversation we spoke about the Trump tariffs, what this means for the global world order, China, which assets to perform, a bifurcated world, gold & precious metals and more. I hope you enjoy!
0:00 - Introduction 1:37 - Tariffs 3:56 - China’s government backed economy 4:57 - US competitive edge 6:38 - Why has US economy shifted? 7:38 - Tax shifts 9:34 - Cutting government spending 13:16 - More retirees impacting coming years 14:01 - Challenging times 15:11 - Which assets to perform? 17:13 - Consumer products and tariffs? 18:08 - Bifurcated world 18:51 - All regions pushing towards protectionism 21:11 - Gold & precious metals 29:13 Energy 32:17 - Copper 36:10 - One message to takeaway?
Rick began his career 47 years ago in 1974 in the securities business and has been involved in it ever since. He is known for his expertise in many resource sectors, including agriculture, alternative energy, forestry, oil and gas, mining, and water. In 1990, Rick founded the business now known as Sprott US Holdings” merging in into Sprott Inc. ( SII) in 2011. He retired from Sprott Inc., in 2021, and resigned from the board of directors in 2023, but remains Sprott’s largest shareholder. IMr. Rule is a sought-after speaker at industry conferences, and a frequent contributor to numerous media outlets including CNBC, Fox Business News and BNN. Mr. Rule is actively engaged in private placement markets, through originating and participating in hundreds of debt and equity transactions.
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