To analyze an analyst = anlayst meta-analysis. You just created a new field of applied research! Study one: People who are capable of pronouncing "cup of coffee" perfectly are probably very capable, thus, their insight on gold is golden. :D
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Gold facing an existential crisis......? Quite a statement for an element that has been treasured for 5,000 years. Those who doubt gold have never held a gold nugget or coin in their hands. Feels very different than staring at your bitcoin wallet digits on your smartphone. No crypto will ever replace the real, tangible asset that is gold or silver.
Lots of things change in 5000 years. Salt used to be a monetary store of value sometime. Im afraid gold is going down the hill in the next decade replaced by BTC.
@@Marcelo-Caruccio LMAO you're an idiot. Gold has been thru every single economic condition, every single fiat currency, and every single civilization in all of mankind. It's fine to like Bitcoin but this arrogance is absolutely absurd.
@@Marcelo-Caruccio Have fun when there's an internet blackout and you will see why you're stupid af to overlook Gold. Better get yourself a HAM radio for your Bitcoin which only will send your BTC about 12 KM. Might as well just have Gold.
BlTCOlN is also the future now, less than 1% of the world population is holding it, If you’re a btc maximalist and you spend a lot of hours watching podcast, learning, reading, and trying to understand. If you’re here, you’re early and you deserve it.
So are so many other cryptos. When tenants offered bitcoin 9 years ago in the absence of cash I had to take the bitcoins without knowing what they were or what they did.
Kyn Chan When I first heard about it, I was like everyone else. Ridiculous and crazy idea. Years later it’s still around, my regret is not getting in then.
@@creditplug2342 Dumb luck on my part. I thought I was getting cheated again with another none paying tenant. I've been a terrible landlord being especially good at choosing awful tenants but luckily the bitcoins were a saving grace and the properties appreciated far more than any rent I ever go out of them.
Bingo silver is gold on steroids the most UNDERVALUED ASSET on the Planet the crime of 1873 the demonization of silver before the gold standard was put into existence
What a clear, articulate and measured guest this guy is! Prefer him to those ones that come on ranting and rattling on. Looks like he collects Second World War helmets too. Good investment.
Technically speaking, applying the Fibonacci Retracement to the Spot Price from the March low to the August high. The low hit in late November was a 50% pullback. So, in my opinion the next leg up has begun.
Congratulations to everyone who is a proud owner of Precious Metals, after all they are precious and will make you Rule like Rick ! Seriously the metals are about to be THE ONLY GAME IN TOWN....🎉💰😎🍿
It's an absolutely very well devised and naturally thought financial insurance policy at a certain point the trend will be roaring and that's the key point and equities will catch up to the demand the physical metal which will be peaking then
@@stevegaspar Yeah, sell more "rope" to China, you greedy fool. I guess if there is a war, and some of that Uranium comes back to us one day, the millions of people who lose everything will know Exactly who's houses to go to with the pitch forks and torches. I guess you aren't factoring that in , too damn greedy.
Central Banks will also soon own junk bond and any old stocks most probably. Look you don't need to pick a side, it's not like the election. You can stack gold and btc and benefit from both
@@atapene i agree you can benefit from both, but for different reasons. I would encourage people to ride the BC high as a speculative asset and sell at the bubble peaks. CB's are holding gold, but have junk bonds for different reasons. CB's around the world repatriated their gold for a reason. Comparing gold with junk bonds is disingenuous at best.
David: Smiling. Rick: "Deficit spending, which is the theft by my generation of your generation's wealth" David: Not smiling. (edited as per Brandon K's spotting of my erroneously referring to Rick as "Doug"). -gfcardi
@@brandonklosterman9880 Ah, you got me. I was listening to a Doug Casey podcast right before this so I mucked up the names. I've edited it to indicate "Rick." Thank you!
@@brandonklosterman9880 Yeah, he's one of my favorites. I first learned of him while watching a Kitco podcast with Doug and Rick Rule, and it was one of the best...I think it was a few months ago. Thanks!
Thanks for calling it what it is, "Counterfeiting" and "Theft"... the FED's overreach this time has resulted in an exponential amount of individuals finally seeing it for the Criminal Cartel it is.
Try your damnedest, but you can't stump Rick Rule with a commodities question. You can't even get him to give a less-than-brilliant answer. Next time he's on, ask him something profoundly deep about precious metals investing. Something like, "What would you say is the number one factor that leads an individual to gold, and what creates a gold bug?" Also, "What are gold bugs to do AFTER this final bull run of an era that you see coming?"
Rick would say you should rejoice in their decrease as it is a buying opportunity. However, he'd also say that you have to do your HW on the quality (and value) of those miners.
You'd also be dead. One trillion dollars = 100 trillion pennies X 1 hour/penny = 100 trillion hours = 11407711613.039124 years. So, how you feelin', great great great great great great great grandpa?
@@gfcardi What a minute. There can be multiple people talking about gold at the same time. And that seem like hundreds at least. They'd be ahead of it--if they just went prospecting for gold.
@@rons5319 lol, good point. But since he never stated his assumptions, the logical starting point was to assume that he would need to verify all of those hours, and whether they were in parallel or serial he would need to verify them as "wasteful" by listening to all of them--which he can only do in serial mode.
Rick makes me feel smart for investing in PM's. So well spoken and intelligent. I got his appraisal via email and it helped me pick between 2 stocks. thanks sprott
Thank you both. Always a “check up from the neck up” for me. Although I stack physicals, I trade other stuff for fun. An ounce of gold in 1820 bought a medium quality custom suit as it does in 2020. Agree with Rick Bitcoin is interesting, but it’s store of value is questionable. It is also dependent on too many man made variables, seen and unseen, i. e. eventual Fed coin outlawing competing crypto’s. Don’t shoot the piano player, I’m just playing a song ;) What man creates, man can destroy.
Are we thinking gold is realistically a medium of exchange in today's world? There's going to have to be some medium of exchange digitally for the digital world with the inherent money properties.
We really don't use the brains we've been given. We give monetary value to anything we deem fit. Cryptos are another example of this human flaw. GOD BLESS🙏🏼
I used to be a gold bug, and after I been invested in Bitcoin for years now, when I come back and listen to anything regarding gold, it is very boring to me. Gold does not provide me any world changing hope as Bitcoin does. But when I say Bitcoin, I don't necessarily mean Bitcoin itself, but I am meaning to more revolutionary cryptocurrencies that are now able to be used for paying little transactions like buying a coffee, at lightspeed compare to how fiat or gold can perform.
At 6:05 the commentator lost me because he is referring to a past that was in pure balance for the last 1000 years . The Digital Era is totally something else . I am a stacker by love . The miners have been my Weakness.
Yes the invention of the internet would seem to have changed things, and to ignore it would seem a bit naive. Given this video and all our discussion are on the internet, which has changed our lives so much we just forget about it
Bitcoin is replaceable with bitcoin 2.0, 3.0 ,4.0 Gold is Aways Gold, Au element 79 Halving of bitcoin every 4 years makes it scares, but gold according to miner's reserves reports we are in roughly last phase of 50,000/250,000. When gold mines depletes in 15years don't expect reserve banks or some Indian or Chinese grandma selling to you the gold they own.
I don't understand how people have faith in bitcoin long term; are they aware the network can only process 4-7 transactions per second? It would take over 10 days (best case scenario) to process a measly 10 million transactions. I haven't been able to disprove the possibility that a motivated organization could choke the network with valid transactions, pushing settlement times high enough to kill bitcoin. Or that could simply happen from wide-scale public adoption. Is there something I'm missing? If few individuals actually hold bitcoin and the average person invests in it through exchanges or derivatives it could work for a period of time. Like gold. But there's just too many technical vulnerabilities for bitcoin to hold up in my opinion. I find it ironic that people who tout it as the future are omitting that functional quantum computers would turn bitcoin's cryptography into a wet paper bag. If anyone can point out any flaws in these concerns, I would appreciate it. I'm just trying to come to an unbiased, logical conclusion
You have to consider the whole crypto industry. The narrative of bitcoin is not to buy coffee with... You don't use gold for that either. It's as collateral, like gold. There are stablecoins and other cryptos which can handle all those transactions, for that utility.
Literally, if you have a piece of gold to Starbucks they would have to check the price of gold etc in just the same way... Frankly it's a childish argument to make, Rick is normally fairer than that
@@atapene I never indicated I believe bitcoin can function as a form of daily payment. In fact, my original comment indicated I believe that's impossible, as the transaction speed required to support that type of behavior is impossible. Your comment about hyperdrives is illogical. First, let's not use an equities comparison to make a point about reserve assets. Secondly, hyperdrives don't exist and there are working demonstrations of quantum computers. All you have to ask yourself is: will computers be exponentially more capable in the future? If you believe so, then there will inevitably come a day when bitcoin will be worthless. I don't know when that is. I think what you're trying to argue is that there will always be innovation and disruption. But If the innovative and disruptive technology is already obsolete then it's just speculation. Which is fine, speculating on bitcoin these past few years has been very fun.
@@atapene Do you have any thoughts on how easy it would be to choke the bitcoin network? Does that concern you? If you had to wait 2 years for your bitcoin transaction from your Ledger to your favorite exchange to settle, would that not shake public and institutional confidence? If you needed to liquidate some of your 'assets' in an emergency, would 2 years cut it? These are the concerns I have. If just a small amount of the population as well as institutions and governments used bitcoin as they do gold, the transaction times would be impractical. Any group with enough resources could delay settlements by years. What would that do to a bitcoin ETF? What would that do to pension funds that have replaced or offset their gold weightings with bitcoin?
I think Rick is missing the threat of Bitcoin. Gold has served it's purpose for thousands of years so it must continue? Imagine the same argument for traveling by horse when the car came around haha. BTC is still so misunderstood. We are in the early 90s of the internet of money revolution.
Only one choice in this world matters: 1) Will you build YOUR kingdom and serve yourself as you prop yourself up. 2) Will you serve God and submit to His Kingdom. Serving others than yourself. Get to know Jesus before it is too late.
Rick Rule is one awesome possum. I read that some countries achieved quantum supremacy. I guess that makes all crypto trash. Gold and miners are the time tested inflation hedge.
Didn't you watch the video and Rick mentioning retracements. If you cant stomach volatility perhaps miners are not for you. Not investment advice. Its up to you to decide risk versus reward.
Rick, thank you so much for using that nose hair trimmer your family gave you for Christmas last year, and I say this as a man whose nostril bush can only be affected by the latest week eater.
Shit interview. He just lets R Rule ramble on. Specifically Rule's statement/argument that people won't/don't use Bitcoin to buy coffee is: 1) false, and 2) a terrible argument --- people don't use silver or gold to buy bitcoin either. ??? The subject was about 'investment' not use as a currency. But of course, the interviewer doesn't have the balls to call him out on that statement.
@@dballard8660 That is an argument based on a belief that his authority in it self render his argument credibility and validity. In my book that is invalid.
@@dballard8660 My observation is that it’s not a mirage and that it’s got all the necessary properties for retaining value over time with scarcity and incorruptability being the most important ones.
@@rickrule5517 there is no dirth in your vocabulary Rick lol that’s so awesome of you to expand mine lol cheers and merry Christmas! You and Erick are absolute go 2s for no BS honest opinion based on reasoning. Ps. I’m all in on Pute gold mining and Discovery metals. Thanks for helping me to hold through the down swings Rick :) your my rock lol
