Big Picture Great For Gold But Bad For Millions Of Americans
September 26, 2013
With continued uncertainty in key global markets, today one of the wealthiest people in the financial world told King World News that the big picture is great for gold, but very bad for millions of Americans. Rick Rule, who is business partners with billionaire Eric Sprott, also spoke about the continued decline of the United States. Below is what Rule had this to say in his interview.
Rule: “As always, the big picture is interesting but you make money where the rubber meets the road. We are taking advantage of low equity prices and confusion in the resource markets. We are buying high quality companies with the view that the market will correct itself in the 2 to 3 year time frame.
We have also been extremely successful in our lending business, which is evidence of the fact that management teams do regard their share prices as undervalued. Circling back to the big picture, what the Fed calls ‘quantitative easing,’ I call ‘counterfeiting.’….