Rick Rule: U.S. Debt Out of Control, “Gold is Catastrophe Insurance”

debt ceilingIn this interview with Finance & Liberty, Sprott’s Rick Rule discusses the coming recovery in the precious metals sector, as well as his view on whether a fiat currency and sovereign debt collapse is dead ahead.
Rick Rule’s full interview is below:

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Comments

  1. Really enjoyed this one!

  2. Congress will keep spending as long as banks and wall street have them bought off.

    • Yes, and if they stop or cut back spending the Deflation picks up even quicker … the problem is the Debt Money Federal Reserve Notes.
      BRING BACK THE GREEN BACK!!! … and re-monetize PM’s as coin and promote them to the Public as an asset worth holding (Like the Communist Chinese are doing on State Sponsored TV … it’s really ironic when the biggest Communist country is promoting Capitalism to their own people and the US is promoting Centralized Debt Money Policy as the new GOD of the Republic).
      Greenbacks and PM Coins … These 2 acts would de-centralize credit away from the TBTF and drive them crazy.

    • WillNotBeASlave … “BRING BACK THE GREEN BACK!!!”

      Slogans are fine if they carry an wholesome message. Fake is fake. Whether issued from government (which I’ve already documented, it already does anyway) or from an agency bank, the effect of circulating credit scrip is destructive of price discovery which then goes on to destroy entire economies in a cacophony of capital-allocation confusion.

      You rail against a mere single step of Interest driven Inflation. So, what happens … the very instant … this ‘Greenback’ trash leaves government and gets ‘deposited’ into the banks, THEN the Interest begins its self-inflationary juggernaut!

      Unless you have no offspring, nor ever will … I respectfully suggest you contain your emotional fervor, to think beyond slogans. And, should you be graced by children, teach them to do likewise.

    • @WillNotBeASlave
       
      “…it’s really ironic when the biggest Communist country is promoting Capitalism to their own people and the US is promoting Centralized Debt Money Policy as the new GOD of the Republic”.
       
      Leftists have replaced God in their hierarchy with THE STATE, so this is what must be preserved at all costs and not the people.  It is a quirk of psychology that people tend to become the enemy that they have known and hated for many years.  Perhaps it is the Dark Side power of hate that causes this.  In any case, the commies are becoming more like who we used to be and we are becoming more like who they used to be.  They are definitely getting the better deal in this.  But who knows?   Maybe we will meet in the middle someday and not see enough difference between us that we can avoid killing each other?  Hard to say.  Old habits die hard, if at all.
       
       
       

  3. Man, oh man. Rick Rule is every bit as erudite and logical as Jim Grant (without Mr. Grant’s uniquely wry humor).

    I too, very much enjoyed the interview.

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