In Episode 150 of Hidden Forces, Demetri Kofinas speaks with Rick Rule, President & CEO of Sprott US Holdings and Senior Managing Director of Sprott Inc. a global, alternative asset manager focused on precious metals and real assets with approximately 12 billion dollars in assets under management.

After spending most of the last decade in a period of prolonged underperformance, gold has spent the last two years on a tear, up 67% since September 2018. This episode is meant to introduce Hidden Forces listeners gold, precious metals, and the larger natural resource industry. We discuss gold’s physical qualities as a commodity that needs to be prospected, mined, extracted, refined, and stored, as well as its investment profile in the form of bullion, equities, and derivative products like futures, options, and ETFs.

We also spend time in the regular episode discussing gold in philosophical terms. What is gold? What is it that gives gold its value? Is gold a hedge against inflation? Is it insurance, and if so, insurance against what? Finally, is it possible to even talk about gold without discussing the macroeconomy, credit markets, and ultimately people’s faith in the institution of paper money?

Other topics include the supply and demand-side drivers of the gold price, what Rick Rule sees in terms of institutional demand for gold, how the mining industry has changed over the last few decades, the relationship of gold to silver and where the silver market is trending, the use of public ledgers and blockchain-related technologies in the precious metals industry, and much, much more.

You can access the episode overtime, as well as the transcript and rundown to this week’s episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 08/03/2020

Rick Rule began his career in the securities business in 1974 and has been principally involved in natural resource security investments ever since. He is a leading resource investor specializing in mining, energy, water utilities, forest products and agriculture, and has originated and participated in hundreds of debt and equity transactions with private, pre-public and public companies. Mr. Rule is also the Founder of Global Resource Investments, President and CEO of Sprott U.S. Holdings, Inc. and a member of the Sprott Inc. Board of Directors. He is a frequent speaker at industry conferences and has been interviewed for numerous radio, television, print and online media outlets concerning natural resource investment and industry topics. Mr. Rule is frequently quoted by prominent natural resource-oriented newsletters and advisories.