The Julia La Roche Show, Released on 11/1/22
Investor and speculator Rick Rule, president and CEO of Rule Investment Media and board member of startup bank Battle Financial, joins Julia La Roche for a wide-ranging discussion on natural resources. Rule, who has more than 49 years of investing experience, looks at the macro picture from the lens of a credit analyst. He’s long-term optimistic but short-term pessimistic, thanks mainly to the excesses of artificially low interest rates, artificially induced liquidity, and systematic overregulation. Rule expects there will be 3 or 4 “very hard years not too far in the future,” and it will be “severe but survivable.” He added that he’s investing aggressively. During the conversation, Rule shared his view on energy, the diesel shortage in the U.S., and his thesis on investing in uranium. He detailed some of the fictional narratives about energy, including why the narrative that we’re going to replace fossil fuels is a joke. Elsewhere, Rule outlined why one should invest in gold, which he characterizes as an insurance policy. He also shared why he’s speculating on silver.
0:31 ‘Failing’ retirement
2:46 Macro view as a credit analyst
5:00 A reckoning from rising rates
6:25 War on savers
8:58 Young people are becoming aware at a great rate
10:15 Long-term demographic trends
13:03 Idiocy of energy policies
15:27 People are waking up to the need for fossil fuels today
17:30 Diesel fuel shortages in the U.S.
21:31 It’s a joke that we’re going to replace fossil fuels
24:44 Investment thesis for uranium
28:15 Triumph of reality over narrative for ESG
32:55 Ways to invest in uranium
34:30 Biggest risks of investing in uranium
34:45 Outlook on gold
40:00 Gold as a life insurance policy
41:45 Why buy a 10-Year Treasury?
43:30 Will the Fed stop inflation?
44:45 A partial return to sanity
47:07 Social Security
49:45 How to invest in gold
52:30 Thoughts on silver
56:00 Where to find more from Rick Rule
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.