#330 Rick Rule: I Sold 80% of My Silver — Here's Why and Where I'm Putting It Now
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#330 Rick Rule: I Sold 80% of My Silver — Here's Why and Where I'm Putting It Now
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In this wide-ranging conversation, natural resource investor Rick Rule, president and CEO of Rule Investment Media and co-founder of Battle Bank, shares his macro outlook, warning that the global economy is weaker than most believe. He explains why he sold 80% of his physical silver after its run from $20 to $75 — and redeployed half into silver mining equities where he sees better leverage if prices hold. Rick breaks down the stark math behind America's $160 trillion in combined liabilities versus $167 trillion in total private net worth, arguing that a "dishonest default" through inflation is inevitable. He shares his framework for knowing when to sell, discusses the coming AI disruption to white-collar jobs, offers his candid views on the Fed and taxation, and provides an update on Battle Bank's national rollout after a 54-month regulatory journey.
This episode is brought to you by VanEck.
Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXJulia
Timestamps:
0:00 Welcome back Rick Rule
0:47 Macro outlook: Global economy weaker than people think
3:19 Precious metals are "absolutely screaming"
4:14 Silver update: The coiled spring has sprung
5:16 What's driving the gold price
6:40 US debt: $160 trillion in liabilities vs $167 trillion net worth
9:48 Honest default vs dishonest default
11:00 Why CPI understates real inflation
13:22 What would fix this? (Hint: Nothing politically viable)
15:29 Where could gold go from here
16:37 Warning: Expect 30-50% drawdowns in this bull market
18:23 Is gold and silver still contrarian?
19:16 Why Rick sold 80% of his physical silver
20:47 Redeploying into silver mining equities
21:57 Rick's investment memo framework
24:00 Silver equities: The leverage opportunity
26:44 Wealth taxes and the nature of taxation
29:52 The New York City socialist experiment
33:35 How we fixed it in the 1970s — five lessons
37:34 Innovation as the way out
38:36 "Take care of yourself — society won't be able to"
42:29 Thoughts on the Federal Reserve
44:45 What would free market interest rates look like
46:56 Signs the economy is deteriorating
49:53 AI and the coming white-collar disruption
54:09 AI: "Greatest memory, no common sense"
55:09 Battle Bank update
58:08 Closing