BULLION BANKS DEFEATED! How Many Ounces Of Gold & Silver Are You HOLDING? - Rick Rule

BULLION BANKS DEFEATED! How Many Ounces Of Gold & Silver Are You HOLDING? - Rick Rule

In this video, Rick Rule, President and CEO of Rule Investment Media, notes that the US dollar's relative strength hides its declining purchasing power and anticipates this shift could boost gold prices in dollar terms. With the global economic shift and downturn, the US dollar's valuation has taken a major hit. Per an article by Pragmatic Capitalism, the greenback has lost nearly 96.4% of its purchasing power since 1913.
Rising inflation, economic downturns, and rising rates have caused the nation to experience a stark currency depreciation.
From a technical perspective, Rick emphasizes how the gold mining industry rewards strong performers like Agnico Eagle while penalizing laggards like Newmont and Barrick. He predicts Newmont's acquisition of Newcrest could drive transformation through tier 2 asset sales, debt reduction, and focus on tier 1 assets. This strategy, though lowering production, could boost margins. Shares of Newmont Corporation, the world's largest gold producer, climbed up to 1% in pre-market trading Friday, supported by rising gold prices amid a weaker dollar and persistent geopolitical tensions, even as CLSA initiated coverage with a bearish outlook.
According to Bloomberg, Newmont's stock experienced its steepest drop in over two years following its third-quarter earnings report. Despite posting its highest quarterly profit in five years at 4.6 billion dollars, an 85% year-over-year increase, results fell short of analysts' expectations on earnings, revenue, and costs.
Based on fundamentals, Rick mentions that large mines often exceed reserve estimates, with exploration extending their lifespans. Ultimately, he expressed confidence in Newmont's strategy if executed well and urged investors to monitor Newmont and Barrick's progress in aligning with their goals.
In his assessment, Rick Rule criticizes the credit market, favoring short-term US Treasuries due to high risks in long durations. He notes overpriced below-investment-grade debt and investors chasing yield without understanding covenants. The United States debt situation has surged to alarming levels, putting it on track to outpace the economy.
Specifically, the US debt-to-GDP ratio now stands at 121%, the highest rate since 2021, according to data shared by the finance commentary platform The Kobeissi Letter on November 30. This ratio is concerning because the last time the US came close to this level was during World War II when it peaked at 119%.
However, Rick questions inflation metrics, estimating the dollar's purchasing power decline at 7.5%, far above official CPI figures. He argued that low yields on risky debt fail to offset inflation, making many credit investments unattractive.

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