Rick Rule’s Take On Gold
This entire 10 minute video is well worth your time but the part where you get Rick Rule’s opinion on Gold starts at about the 5:20 mark.
Rick Rule is a wealthy individual because he knows how to seek out assets that are selling at a good VALUE, regardless of what the mob currently thinks about them. He then holds those assets until they are selling at prices far above their value and then sells them to the mob.
Here are some key reference points from the video.
- The current correction in Gold & Silver is natural, healthy; it’s a sale for people who want to buy things of quality at prices below their value
- The alternative to Gold is really the 10 year Treasury note – which James Grant has called “return free risk” – it’s stupid in Rick’s mind.
- Buying Gold here is a no-brainer. He buys Gold instead of Silver because he is a fear buyer, for insurance – and he expects a very, very, very happy ending for Gold owners vs people who follow the consensus and put their trust in U.S. bonds and cash.
- The “Silver guys” are more speculators (that would include Rick’s partner Eric Sprott)
- But Rick Rule’s favorite is the PGMs, Platinum & Palladium – Supply is going down (South Africa, Zimbabwe & Russia – 90%; North American not a player) while demand is staying strong, in good part because of cleaner air standards for autos
- The Fed is convincing people that liquidity is a substitute for solvency (if you have $2000 in your pocket it’s OK that you owe $1 Million)
- The only difference between Quantitative Easing and counterfeiting is who is doing it. If you or I did it we would go to prison.
Summary
If you don’t own any Gold or Silver then you have to ask yourself if the alternative – return free risk Treasuries – is the right place for your money. Or are they, as George Soros quips, the commonly held perception that is wrong?
If you do own Gold and Silver, then ask yourself “Do you have enough?” Have you stored it safely and securely? (BullionVault, GoldMoney, Hard Assets Alliance)
If you think Rick Rule is right about Platinum and Palladium, did you know that you can buy Platinum and Palladium in your GoldMoney account? Or that you can buy and take delivery (or store) Platinum (currently bars) and Palladium (currently coins or bars) at Hard Assets Alliance?
