Rick Rule Rhetoric

"I have never seen gold stocks as cheap at today's gold prices as they are right now."

“When I look at the #gold price in the context of my portfolio, it would take a huge increase in price to get me to sell. Therefore, I don’t have any immediate interest in higher gold prices, but I do have an interest in lower gold prices because I’d like to buy more.”

“When I look at the basket of goods and services that I consume, and I look at them in dollar terms, I’m horrified. And when I look at them in #gold terms, I’m amused.”

“People have told me, ‘Rick, you’re so far up on your #oil equities, you need to sell.’ Why? If I sell them, I pay capital gains tax, I shield myself from a downside which I feel is temporary, and I have to buy back in to participate in an upside that I think of as inevitable.”

The World’s Biggest #Gold Producers.

“Speculators and traders that believe they are smarter than the rest of humanity can do okay buying inefficient companies in melt-up circumstances, but most mortals, even mortals like myself who have studied and participated in the markets for 50 years, need to pay much more attention to efficiency and value than they do leverage to the #silver price.”

@factor_members Regretful.

“If you believe, as I believe that the U.S. dollar loses 75% of its purchasing power over the next 10 years - it is imperative that you consider putting some of your savings in an asset which has a millennium-long track record of maintaining its real purchasing power.” #Gold

#oil stockpiles. As of December 2025.

“If you are involved in a circumstance where public opinion is broadly lined up against you, you’re almost certainly correct.”

“In the decade of the ’70s, the #gold stocks outperformed gold two and a half to one, and gold ran 26-fold.”

“35 years ago, anything below 1% #copper was considered waste, and the average mine grade worldwide was 1.5%. The average mine grade, if I’m not mistaken, last year was 0.44%, which is to say the average mine grade is now one-third of what it was three decades ago.”

“The lessons that I should have learned early, I learned after 10 or 12 years, very painfully. Natural resource-based businesses are capital intensive and cyclical, and when they’re doing extremely well, they’re getting ready to do extremely poorly. I unfortunately didn’t anticipate that; I experienced it, which was a truly ugly circumstance.”

“Real estate measured in #gold is cheap. Food measured in gold is pathetically cheap. Health insurance and health care, measured in gold, are cheap. When, by contrast, I measure them in U.S. dollars, all of those things are frightfully expensive. That tells you gold’s true role.”

“Japan built their nuclear fleet, the world’s third largest, in response to the Arab oil embargo in the early part of the decade of the ’70s, as did France. The lessons that were learned by those constituencies are being relearned now.”

“#Uranium is the only power source that is dense enough for a nation like Japan, France or Korea to store 5 or 6 years of latent energy in a warehouse. You can’t store that much coal or natural gas or oil; you certainly can’t store that much wind.”

“It’s estimated by Codelco that the world needs one more Bingham Canyon every year for the next 10 years.” #copper

“For people who have adequate supplies of #oil and #gas in their portfolio, this is probably not a time to add - those stocks are up substantially. If the circumstance in the Persian Gulf doesn’t de-escalate in the next 90 days, this will sound like stupid advice indeed.”

“If the interruption of hydrocarbon exports from the Persian Gulf continues for 2 or 3 more weeks, we’re going to have to begin to ration #oil and liquified natural #gas by price, not by availability - and that’ll be ugly, really truly ugly.”

There is a ‘risk premium’ in the #oil market, but I don’t think we’ll see, for a week or two, a ‘shortage premium’ in oil. If we do see a shortage premium, you are going to see oil priced to utility as opposed to cost. And oil’s utility is very, very, very high.”

“I think a big beneficiary of this will be the #uranium industry. Uranium is the only fuel on earth dense enough that Taiwan or Korea or Japan could easily store 5 years of energy requirements in a warehouse.”