Where Are We in the Commodity Cycle? With Rick Rule

Rick rule is a favorite in the real Vision Community if you'd like to meet up with Rick and get a master class from the master himself you'll want to head to the Rick rule Symposium on natural resource investing in Florida July 23rd to the 27th you'll get access to Industry insiders Elite bullion dealers gold council members and uranium Pros there are special early bird pricing for in-person and virtual sets until June 30th just head over to realvision.com forward slash Rick yeah foreign [Music] where are we in the Commodities cycle hi everyone Welcome to the Real Vision Daily Briefing with me today is Rick rule president and CEO of rural investment media hi Rick it's great to see you again Maggie it's great to be back with you thank you for having me back on yeah and we're sort of um we're talking just as we're closing out the first half of the year right this week is going to be the final for the week the quarter and the and the half year and when we think about it we've had so many guests coming on talking about what a complicated macro environment is right we have central banks either tightening or promising to hold rates higher for longer we have a U.S economy which is sowing unexpected staying power as we saw in housing and consumer confidence data that was released today geopolitical drama in Russia Chinese economy which appears to be losing momentum so there's a there's a lot of factors feeding into this for investors to kind of sift through how are you thinking about Commodities against this backdrop well I think the Outlook is mixed but mostly bullish for reasons that we'll discuss later uh I think it's likely that we continue to experience supply shortages uh in commodity not as much demand based uh as as in fact a response to declining sustaining capital investment but as you also point out there are many more geopolitical concerns some of which have been expressed in the market so far and some of which will be expressed in the market uh in the markets to come I know too uh that the awareness that the policy Community has and the awareness that government has around these supply shortages are starting to increase investor interest both official sector and private sector interest something that we haven't seen for 10 years now when you're talking about around the supply side are you talking across the entire commodity complex are you more specifically talking about metals or rare earth materials things that go into semiconductors how are you thinking about that almost the entire supply side as an example in the biggest of all extractive Industries oil and gas it is estimated that the oil and gas industry as a whole is under investing in sustaining Capital to the extent of about a billion dollars a day 365 billion dollars a year the industry can continue to do that for a little while but over two or three years uh deferred sustaining Capital Investments like that impair the industry's ability to produce oil uh it isn't that we haven't discovered the oil it isn't that we don't know where it is it's that we are under investing in as an example development Drilling and infrastructure construction the consequences of that can be seen historically in places like Mexico and Venezuela a potentially very large oil producers countries pardon me that have under invested in sustaining capital and have temporarily or perhaps even permanently impaired their ability to produce I'm talking about this from an illustrated illustrative sense of uh point of view but we've also seen uh historical under investment really across the Spectrum in most Commodities we're starting to see that addressed in some of what are now called the battery or the electric Metals as an example there's been a real surge uh in Exploration for lithium but the surge that we've seen in lithium exploration has not been repeated in other critical Metals things like zinc things like tin things like even copper and Cobalt we have had systemic under investment in the means of production around natural resources for a very long time and the chickens are coming home to roost there yeah when we're talking about I want to talk a little bit about that in our regular viewers know that we talk about those those um sort of necessary rare earth metals the complex around EV however you want to categorize it we talk about that we've talked about that a lot and we'll continue to do deep Dives on that when you're talking about energy energy and the under investment in in oil and oil and gas why is that happening I I because the majors are not they I just saw a headline recently saying that they're you know they're once again deferring from Capital Investments is it is it the the sort of ESG side of it is it because of the price I think it is the ESG side the industry the Private Industry is is exhibiting record high cash flows uh there's money there to invest but you know the the policy makers are schizophrenic on the one side our president has told the domestic oil industry to increase production so he can bring down politically sensitive gasoline prices while at the same time he says he's going to put them out of business uh in 2030. the idea that he's going to put the oil industry out of business in six years is not a wonderful way to get them to invest uh tens of billions of dollars today and this isn't a criticism that's leveled solely at Biden the same has been true for Trudeau Canada does one thing really well produces oil and gas is what the country runs on yet they discourage it uh you know we've seen this official sector schizophrenia for a very long time and they being they being the political classes I think that have done their best to not only discourage by jaw boning investment in oil in oil and gas and natural resources but also uh actively try to Lobby uh institutional investors and Banks uh against natural resource investment particularly natural resource investment that is carbon generative it's interesting I spent a lot of time um in other areas talking on a pretty granular level about this stuff too and there's much more nuanced conversations when you're in other circles I'm just wondering in this environment when we saw the shortages you know I feel like there was pre invasion of Ukraine and there was a a sort of black and white rhetoric around this anyway in a push to sort of move very quickly and then the realities of what happens if you don't have a well thought out transition um there was some thinking that that would change the Dynamics that that would change the conversation um but it sounds like you're saying that hasn't happened or you're not seeing signs of that you're still seeing kind of widespread discouragement I I think Russia and the invasion of the Ukraine was the catalyst but I think that the seeds were sown for that uh well before the Russian investment in the Ukraine the Russian Russian invasion of the Ukraine pardon me uh I think what you're seeing is a reaction to the fact that the world's Supply chains with regards to natural resources and energy in particular were compromised that we had had a long time under investment and also that investment in hydrocarbons was regarded as politically correct uh the big thinkers in the world talk about a transition away from oil and gas and they talk about peak oil demand occurring in 2030. let me leave your audience with one statistic about that we have now invested over 40 years almost five trillion dollars in alternative energies and I'm not a Critic of alternative energies but we've invested five trillion dollars in them and we have reduced the market share of fossil fuels from 82 percent all the way down to 81 percent for a five trillion dollar investment what would it take to get the market share of fossil fuels down to 70 in a market where demands of all for all forms of energy are increasing the policy makers need to understand but more particularly your listeners need to understand the peak oil demand just as an example will probably occur in 2060. there's nothing nuanced about this there's nothing uh narrative about this this is pure arithmetic the big thinkers in the world don't seem to want to understand that a billion people on earth have no access to primary electricity and two billion people on earth have access to intermittent or unaffordable electricity what that means is that the world is going to need more of all forms of electricity more of all forms of energy going forward and that's going to that's going to uh require whether the big thinkers like it or not uh both uh oil and gas and coal okay so I it's so I'm going to Veer it back onto the a little bit to the markets um right now because I think there's a really extensive political conversation you can you can have about that I mean it's a really interesting one um you know for those who want to go down that rabbit hole there are lots of good places um uh to go including we're going to get to this a little bit later but Rick is holding a symposium in Florida where they're going to talk a lot about this too um of of I think at some point we're going to have to have everyone no matter what side you are on and unfortunately this is very tribal and can get very you know um people yelling at each other across the aisle when you know there are folks trying to work on a solution forward that kind of brings everyone along um but if we bring it back to the markets it's very interesting that you're talking about supply and supply change because um we spoke with Marco popik yesterday from Clock Tower and he made the argument that longer term regardless of how you feel about these things this isn't an endorsement of this this is just if you look at trends that some major trends that are happening with regard to supply uh for one are going to have uh are they going to be prove really bullish for Commodities let's have a listen to that and then we'll talk on the other side everyone's decided and by everyone I mean the policy makers in almost every country have decided that they need to redesign Supply chains away from China so that's like a priority number one there's this National Security prerogative to redesign Supply chains I mean China itself is doing it as well so that's priority number one priority number two is apparently to um sink a lot of capital into the green energy Revolution these two policy priorities are combining to create a very capex driven cycle okay what does this have to do with Russia well what do you need to do if you want to redesign Supply chains and do a green energy transition what do you need what is the fundamental need you need what is the fundamental asset you need Commodities a lot of them and not just energy you need metals so we're basically redoing the 2001 to 2007 cycle uh for policy and political reasons and ideological reasons as well you know basically the West has decided China's evil now and that everyone's going to be cooked Alive by climate change those are two priorities so if you suddenly have political risk in Russia and it doesn't have to be something extreme it doesn't have to be like Mel Gibson roaming the highways of Russia in a Mad Max scenario it doesn't have to be apocalypse or warlordism it could simply be a reversion to sort of the instability of the 1990s it's highly unlikely that Russia will receive the sufficient capital uh sorry sufficient financial and human capital to extract the supply of Commodities that we're going to need some real I think that's such an important comment coming from Marco yesterday and by the way this push and pull between supply and demand the effects of some of these longer-term macro economic developments the kind of thing we dive into all the time on the platform if you are not a member scan the QR code come join our community so you can get access to all that good content um so Rick how are you know I think I think he laid it out really well the issue that the market seems to be grappling with so Marco's perspective was longer term which he was clear about um but he also said short term you could get a lot more volatility as investors try to Grapple with this demand side which is if we look at especially the energy Market this year really cratered oil prices so how are you thinking about the demand side right now well I I think it was a very important clip for just that reason uh I have been surprised as you said in the lead into the show with the strength in the U.S economy uh given higher interest rates uh I've been impressed on the demand side I would have expected demand growth around the world to be slower and I don't think that the strong interest that you've had in Commodities is uh just around geopolitical issues but rather the fact that we need to continue to accommodate more and more people on Earth that have more and more material needs I think your comment with regards to volatility is right on uh you have these long-term macro Trends and you have these nearer term geopolitical interest rate and economic Trends and I think the Hallmark in in the near term is going to be volatility I think the Hallmark in the long term is going to be supply shortages yeah that so that's super important that's super important because this is and we talk all the time about time frame both on this show but across real Vision it's part of the academy it comes up in the academy sessions we do you and I have talked about it before what's your time frame because people know you they know your expertise and commodities longer term you've been talking about some of these structural supply shortages so um everyone would assume that you are always a commodity bull but that's not the case if you narrow it down to Shorter term we've got some shorter term questions here people want to get to um so if we're in this more volatile situation that's going to change the way people have to approach these markets correct yeah I I think somebody needs to identify uh what kind of investor they are if they're a short-term Speculator or a Trader you trade volatility uh as opposed to longer term reality my experience in the resource business is that you either have to be a contrarian or you're going to be a victim uh when you come to realize that markets work you understand that the oil Market goes up to 150 it becomes unsustainably High uh because the high prices encourage uh conservation and they encourage production simultaneously more production less consumption means lower prices so perversely you become more bullish when prices are weak and more bullish less bullish pardon me when stress when prices are strong it's difficult for people to do uh what I ask people to do is look for circumstances that appear statistically inevitable and worry a little less about time uh accommodate themselves to being willing to wait a little bit for uh what is inevitable understanding that it may or may not be imminent when we talk about developing uh shortages over five years as an example as a consequence of uh demand growth oh pardon me Supply shrinkage what we don't take into account as an example is the possibility of a recession uh in a recession you could have some Supply shortfalls and Destroy some demand and the prices don't need to move so investors need to take all of that into consideration and successful investors need to take successful investors in national resources pardon me need to take a fairly long time frame yeah that's perfect so I mean so well said and I and I I'm always taking notes when we I I keep threatening to have a t-shirt contest for the show and in the resources if you are not a contrarian you are a victim has got to be a contender because that is so true but it's hard to do right it's hard to be that contrarian So to that point David is asking do you trade around the price of gold while holding for the long term and how do you stay patient when the price is down uh I do not trade around the gold price uh particularly with regards to the medal itself uh the metal in my own portfolio is insurance against my government which I feel I need uh the consequence of that is that I buy it just the way I'm paying an insurance premium I will trade gold stocks although not normally based on the price of gold I I trade gold stocks because in my own mind I have a range of values and when they get towards the top end of that value uh particularly if I see too many buy recommendations from generalists I tend to trade I I tend to sell by contrast uh when the conventional analysts uh as they occasionally do don't remember how to spell gold uh I'm inclined to be on the buy side I guess the contrarian coming out in me again but with specific regards to Gold the metal itself for me it fulfills an insurance function in my portfolio and I'm unlikely to trade it so for anyone who may not be familiar with Rick's pass when he says generalist versus his understanding of value I encourage you to go look up uh the my life in four trades we did together because that will give you a good background on just how well Rick knows this area so he does have Insight that others don't so he is talking as somebody who specializes in this area which I think is important um for those who may not and you know you always feel more comfortable with what you know so just take that as a sort of cautionary note as well as a compliment to Rick so Oliver is asking what levels are you watching for gold and silver so even though you buy it like an insurance premium you're paying are there levels you're currently watching for for those precious metals right now not in the gold itself uh but if gold perversely were to fall to 1500 uh I would be buying the gold stocks with every spare Farthing in my existence in the near term were the gold price to handily exceed 2500. uh and I began to see you know gold on the cover of uh Investors Business Daily or something like that I would likely trade out of some gold stocks as I say with regards to Gold uh I don't have levels it's I I guess there would be a point at which I wouldn't buy Property and Casualty Insurance where the premium would be too high relative to the payoff but as I say I don't regard gold myself as an investment asset I regard it as wealth and I regarded as insurance so I don't have levels there I'm an old-fashioned gold bug I'm not suggesting that the rest of your audience adhere to my point of views I'm nearly answering that question absolutely um we always say that all the guests who come on are not dispensing investment advice they are simply talking about their thoughts on this on these issues we always want to remind people of that um Chilean X asking what do you think of platinum Supply which is concentrated in Russia and South Africa two countries having their specific issue so this issue of political risk against this is another thing we're talking about the general geopolitics but anytime you're talking about Commodities there's an element of understanding what's happening in the country that you're operating in which you know a thing or two about Rick I own platinum and Palladium for precisely that reason I note on the demand side that irrespective of the big thinkers wish to do away with the internal combustion engine it's going to be with us and platinum and Palladium are the catalysts that reduce uh Automotive uh industrial internal combustion engine smog people don't like smog so there's ongoing demand for platinum and Palladium it only costs 125 dollars to provide enough Platinum to sell you a Mercedes-Benz for ninety thousand dollars price of platinum went up if it doubled it wouldn't change the price of a Mercedes the supply side is what's really interesting as the questioner points out Platinum comes from three places really Russia South Africa in Zimbabwe uh if you wanted a sort of collection of political risk for connoisseurs of political risk you couldn't get a better collection than that uh South Africa experiencing extraordinary internal uh political constraints power supply shortages corruption Zimbabwe uh I mean historically it almost hasn't been a state it's been a place on the map uh and then the Paragon of stability until recently Russia uh where suddenly uh the supplies and perhaps even the internal sociology is challenged if I had to find a medal that had or the potential for a real exogenous Supply shock among every other commodity I follow it would be platinum and Palladium wow okay uh we've got some people who are also bullish on that on the chat uh Charles asking and I'm gonna I'm I'm limiting what I'm saying and getting to the questions because we have so many of them and that's what we do on the show uh Charles asking can the Saudis attempt to cut the U.S off in order to increase short-term prices in oil I'm jumping around a bit here with commodities Rick but uh the United States is a consequence of the Permian Basin uh and a history of free market uh attitudes is effectively self-sufficient in energy the Saudis have very little leverage over us but the Saudis have much greater leverage over emerging and developing countries uh over China and over Europe so if the questioners uh question specifically regards the United States the United States particularly in conjunction with Canada and Mexico uh are amazingly insulated from what the what the Saudis might be able to do to our domestic Market but the Saudis do have the ability to impact the World Market and impact it substantially and we are connected to a much greater degree than many people realize are you surprised we had that move a while back where they decided to go it alone without their OPEC plus Partners did that surprise you what did you make of that I thought it was amusing I think it might be for internal uh political discussion I think the Saudis have come to understand over the last 50 years that it's not too hard to manipulate the oil prices up when they're going up anyway uh it's not too difficult to manipulate them down when markets are working but the the Saudis and the rest of OPEC have learned that markets work uh markets end up being bigger than governments governments can impact markets in the near term but the truth is when the oil price gets too high we produce more and we consume less uh and the Saudis I think have come to understand uh bitterly that markets work do you know we we saw that uh reversal in Energy prices uh there had been an expectation that we're going into recession but you just pointed out U.S we're not seeing it yet everyone keeps pushing it back are you surprised we haven't seen more of a response or is it just that the market still thinks is the market telling us that despite the analysts pushing it back they're still convinced there's trouble ahead they're looking at China they're worried about a Slowdown in China what is the oil Market telling us I think that the oil Market is being schizophrenic uh as a consequence of policy I think that the Fairly strong economy has it has surprised everybody but in particular the oil industry and perhaps myself uh I I think too that uh this lack of sustaining capital investment in places other than the Permian Basin is coming home to bite us uh you know if you look back 15 years ago uh two of the biggest oil exporters in the world were Venezuela and Mexico uh neither of which are forces on the World Market the Saudis uh and others including the United States uh have had to uh fill that bill it's important to note too that despite the big thinkers Wishes the use of uh oil and gas as power sources in this Transportation fuel is growing rapidly in other parts of the world the impact that you saw with regards to the urbanization of China in the period 2000 to say 2010 is being repeated to a lesser degree around the world the urbanization of emerging and Frontier markets and humankind's wonderful ability to lift a billion and a half people from dire poverty to merely being poor is one of the things that's continued to drive demand for oil and gas and will continue to demand to drive demand for oil and gas yeah you have to look at this as a as a global picture and James is is asking that although he's asking about currency so I'm not not sure if you're watching this I know you watch everything but he's asking is the US dollar about to get some serious competition from bricks in July no uh uh my friend Doug Casey describes the US dollar as a as a I owe you nothing a brics currency like the Euro would be a who owes you nothing if you look at the strength of the individual currencies in those countries if you look at their government deficits if you look at their trade deficits if you look at the incontroverty the inconvertibility of their Securities the illiquity of their internal uh uh debt markets uh as troubled as the U.S dollar is it is as again Doug Casey says by far the prettiest mayor at the slaughterhouse and the consequence of that not because necessarily of the strength of the U.S economy but rather because of the weakness of the competitors the US dollar will remain Supreme if you were going to be a creditor if you were going to loan money to a Serial defaulter like Argentina would you give them the double advantage of lending to them in a currency that loses its purchasing power by 50 a year I don't reckon so my belief is that the US dollar remains perhaps undeservedly the world's Reserve currency for a very long time I would hasten to add and your viewers will hate this but that's okay the worst enemy that the US dollar has is the US government we've weaponized the currency uh we've used the currency to try and impose our will extra extra territorially on other countries we have forced them to look for alternatives to the US dollar uh it isn't any any wound uh to the U.S exorbitant privilege that hasn't been self-inflicted there are a lot of folks uh anyone out in the Bitcoin world I'm sure will that will resonate with them for sure um uh any thoughts on uranium we have a lot of we have some questions we also have a lot of chat and people going back and forth among themselves about uranium people in Europe not feeling very good about it uh what are your thoughts on uranium Rick I'm a uranium bull uh maybe I should describe myself as the Iranian beneficiary I've been in that market for a very long time and it's treated me extraordinarily well uh I would point out to you that the Catalyst that I talked about in real Vision a year and a half ago which is to say uh Japanese restarts has begun uh so I don't need to say I don't know what it's going to happen anymore it's going to happen in 2023. it's happening with us you can see the increase in the spot price you can see too more transactions taking place in the term Market which while opaque has higher basic price pricing than the spot market so the uranium bull market rather than being something in the future uh is something in the present uh I think it starts slowly but I think it's an extremely fertile area to invest it's interesting to me that uh many former opponents of nuclear looking at Japan as an example where five years ago 30 percent of the electorate favored restarting the nuclear power plants and now 65 percent favorite uh if you look at Gordon Moore the co-founder of Greenpeace saying the only hope that we have of reaching the carbon protocol uh uh guidelines is nuclear energy there's beginning to be in addition to the economic need for uh uranium the political and narrative support around the Iranian business this isn't something that's happening in the future it's something that's happening right now I know too in the stupidly named inflation reduction Act uh that the U.S federal government which is for 25 years vilified uranium has now decided to subsidize it uh I this feels paradoxic to me and I'm uncomfortable I guess being on the side of the state but the truth is uh having them uh while I don't want to receive their subsidy uh having them no longer vilify the uranium industry I think is useful yeah yeah there has been it's interesting you say that because a lot this is again Rick is always kind of looking past and and trying to um and you you have I think some insights into some of these markets that are a bit opaque that other people don't see um because people have kind of been giving up on uranium they've been losing faith they've been thinking that this um all this enthusiasm that we saw for nuclear after the energy crisis last year in Europe and and and based on all the conversations uh around um you know cleaner energy that this was nuclear as time and then they kind of lost faith in that but you're saying it's don't lose faith that it is happening about four years ago uh I think and perhaps as a consequence of my former employers fraud uh initiating the Sprott physical uranium trust the uranium uh spot price increased from Circa twenty dollars to Circa 40 45 dollars and that plus the incredible narrative around uranium and investors memory of the unbelievable marketing uranium uh in the 2000 to 2008 time frame caused a poor pun uh uranium Equity prices to explode upwards there were expectations in the uranium Equity Market four years ago that couldn't be sustained uh markets worked people who were drawn into the market by The Narrative rather than being drawn into the market by the math before the narrative ended up being disappointed because they couldn't have helped being disappointed when the price of a small uranium Equity that has no uranium other than as a component of the name on the share certificate increases in price by four or five hundred percent because the underlying commodity which they don't have any of doubles you have a silly circumstance and people who by that circumstance deserve to get punished right and we've seen this before this is what you know make sure you understand the underlying um because there's a there's a mega Trend and then there's all the volatility and froth and sometimes you know people going out we talk about this a lot with AI right now because it's attached to every single headline as you and I discussed right before we came on air we have so many good questions um as you can see we're we are out of time some of them are asking about um I just want to mention them because they're so good Jonathan talking about how does Rick scale or build positions in say a palladian energy I know he funded it at one cent a year ago Derek asking when you're planning to open your bank we can't get them to them all on the show today but hopefully the kenied uh Watchers if you're seeing the promo that we put ahead of time we're flagging the fact that Rick is having a symposium in July in Florida I think the 23rd to the 27th right where you're going to be there what what's going on there Rick tell us a little bit about it this will be the 23rd year that I've put on that Symposium so first of all the Symposium stood the test of time uh we had to do it virtually during covid uh so why has the Symposium worked I would suggest the value proposition comes down to a few things the first is that we have great big picture thinkers but not the kind of big picture thinkers that you'd see on you know CBC or CNBC more the kind that you'd like to see on real Vision the Jim Rickards of the world the Nomi princes of the world the bill Bonners of the world uh if you agree with that point of view which you seldom see in the mainstream media what we have for you are great analysts and portfolio managers people who didn't parachute into as an example the oil and gas space because they failed to supervise as a supermarket analyst but rather people who have been in the industry through thick and thin 30 years through bull markets and bear markets but better than that Maggie we have a group called The Living Legends entrepreneurs who have built multi-billion dollar natural resource companies from scratch it's important to less to listen to how they did it because it teaches you how to be a better investor and they tell you how they became better investors and by the way we always make them give us each two or three picks about companies that they're not involved in so that we could use their expertise I'm very smart for a specific record well you know I've been around a long time Maggie I've got a couple things right beyond that you know at most conferences the qualification to be an exhibitor is a check that caches uh to be a sponsor at our conference you have to be owned in an account that's managed by the sponsors of the conference there's no guarantee unfortunately because I own a stock it goes up but there is a guarantee that we know the exhibitors well enough that we own them the final guarantee is this if you come to the Natural Resources investment Symposium either physically coming to Boca Raton or virtually watching it from home around the world you will be able to watch the tapes at your leisure for six months after the conference because there's two much programming to absorb in 50 hours over four days and the final guarantee is this if for any reason attending virtually uh or physically you don't think that you got your money's worth I'll give you your money back absolute positive money back guarantee I love that listen I think that we've heard a lot we we have people who come on who just say listen the Commodities or they're very specific it's not my area of expertise you can get really really killed in them if you don't know what you're doing so I feel like it's got to be part of all of our portfolios right now we we hear from you from Marco from all these different people that it's there are all of these sort of structural issues and kind of megatrends coming at us we didn't even get to talk about infrastructure all the infrastructure building that's going to be going on um and what that impact that's going to have so we all have to understand it so love the fact that you're getting everybody together to do this Rick I think it'll be really interesting so if we didn't get a chance to answer your questions maybe you want to roll up and hang out with Rick for a little while in Florida and you can catch his ear and he can tell you all about the bank and how he's going to build a position or how he did build a position in Palladium energy Rick we never have enough time with you so great to see you I look forward to being invited back to answer more questions I enjoy the process Maggie I enjoy particularly the fact that you're prepared to ask me these questions and I love the clip that you guys had to set this interview up yeah it it really worked out well it's on everyone's mind Commodities are on everyone's mind given what's going on in the world so we were lucky to be able to have you for the time we did today Rick always appreciate it thank you thanks thanks to all of you for the Fantastic conversation and questions that you sent in uh we'll be back tomorrow for extended I believe Brent Donnell is going to be with us which is always great so get your questions and thinking cap on ready for that and as always take care and good luck out there [Music] thank you Rick rule is a favorite in the real Vision Community if you'd like to meet up with Rick and get a master class from the master himself you'll want to head to the Rick rule Symposium on natural resource investing in Florida July 23rd to the 27th you'll get access to Industry insiders Elite bullion dealers gold council members and uranium Pros their special early bird pricing for in-person and virtual sets until June 30th just head over to realvision.com forward slash Rick

Channel: Real Vision Finance

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Keywords: real vision finance, real vision tv, chinese, stocks, bitcoin, equity, equities, nasdaq, consumer sentiment, consumer prices, inflation, chinese tech, chinese tech stocks, china's tech crackdown, fed, federal reserve, the fed, taper, fed tapering, fed hikes, rate hikes, interest rates, bonds, treasuries, investing in bonds, raoul pal, 2023 markets, 2023 recession, 2023 inflation, realvision, ral pal, raoulpal, portfolio management, AMa Raoul Pal, Raoul Pal 2023, raul paul, raoul paul

Id: UO5_hZA8OyE

Length: 38min 25sec (2305 seconds)

Published: Tue Jun 27 2023