While Eric Sprott was speaking with The Doc this morning, Sprott’s Rick Rule was on CNBC discussing gold, silver, platinum, and palladium in the midst of the latest cartel raid on the metals.
While Rule’s entire interview is a MUST WATCH, the below clip was an absolutely classic response to CNBC’s claims that jewelry recycling will prove to bring massive supplies to the market:
In terms of gold and silver with supply, you have to think about historically mine supplies, but there are no substantial inventories of platinum and palladium. It has gone up a smokestack, it has gone out a tailpipe or been turned into jewelry. If you think your wife’s ring is supply, ask her. You’ll find out it isn’t.
When asked which precious metal Rule would recommend owning he responded: I would own the whole bullion suite.
Rule’s full interview is below: