'Why I'm Using More Cash,' as My Worst Nightmare Closes In Warns Rick Rule
Stansberry Research, Released on 4/24/23
"The enemies of the U.S. dollar are not Saudi Arabia. They aren't China. They aren't Russia," says Rick Rule, founder and CEO of Rule Investment Media. "The worst enemy of the U.S. dollar, rather than being external, it's from within." He argues that the U.S. is facing more than $130 trillion of debt and Congress has promised to service with a budget that's in deficit $2 trillion a year. "You don't dig yourself out of a hole by digging deeper.. which is precisely what we were doing," Rick says. However, he is still impressed by the resilience of the U.S. economy and advises young people to follow their passion if they want to succeed. In regards to latest rollouts of central bank digital currencies, Rick says it's the "worst possible nightmare" because the digital currency program will allow governments to monitor people and control their money. "I am using more and more cash," Rick says. He concludes that the deficits, debt issues, and negative real interest rates will tempt folks to explore the precious metals sector, including physical gold and gold-mining companies.
00:00 De-dollarization13:30 Economic outlook17:04 Rick's advice on youngsters21:17 Rick's thoughts on the Fed23:52 Rick starting banks29:26 Investor education31:57 Gold price35:23 Rick's final thoughts on central bank digital currencies
Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries. He is also the founder of Rule Investment Media.
'Why I'm Using More Cash,' as My Worst Nightmare Closes In Warns Rick Rule added by Herman James on 04/21/2023View all posts by Herman James ?+'