Mining Network, Released on 6/3/26

Rick Rule explains why he believes America’s debt trajectory has no realistic solution — and why that makes gold effectively unsellable for him long-term. In this in-depth interview, legendary resource investor Rick Rule breaks down the numbers behind the U.S. fiscal situation, including roughly $40 trillion in on-balance-sheet debt and over $120 trillion in unfunded entitlement liabilities. He argues there is no arithmetic path out of the current position and states clearly that the only scenario in which he would sell his gold is if the U.S. achieved a balanced budget including entitlements and resolved its massive net debt — which he describes as “a different way of saying never.” Rick also shares why he personally hopes the gold price goes lower so he can continue accumulating, why he recently sold most of his physical silver in favor of silver stocks, and why he is funding new exploration ventures in Venezuela despite having been nationalized there four times previously.

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 co-founder of Battle Bank and founder of Rule Investment Media.

  gold, investing, silver