12:01
the second thing and this is astonishing
12:03
to me
12:03
is that the fed’s estimate of the cost
12:05
of living doesn’t
12:07
include tax while
12:10
government expenditures are over 40
12:12
percent of gdp
12:14
the idea that your cost of living
12:15
doesn’t include tax
12:17
i suspect daniella that would be okay
12:19
with you if you didn’t have to pay the
12:20
tax
12:21
but given that you do a calculation of
12:23
cost of living that doesn’t include tax
12:26
seems very odd to me i reck i understand
12:29
that government probably shouldn’t be
12:32
considered to be a consumer good
12:34
unfortunately it’s a good which you are
12:36
forced to consume and fund
12:38
and people when they are thinking about
12:40
the impact of their savings
12:42
and their uh earned income relative to
12:45
their purchasing power
12:47
need to think about inflation very
12:49
differently
12:50
than a slavish reliance on the cpi oh
12:53
that is so well said and i’m happy you
12:55
brought up the point about uh
12:56
tax a rick a real good one um so you
12:59
know
13:00
it seems like we’re living in this world
13:02
of you know fake earnings fake gdp
13:04
fake interest rates and super high
13:06
valuations
13:07
um the feds in a corner
13:11
i think the fed isn’t a corner uh i i
13:14
think
13:14
i think they’re there by popular demand
13:17
when i see what the fed does it reminds
13:19
me of an old
13:20
pogo cartoon from my youth where pogo is
13:23
in the swamp
13:24
and he says i have met the enemy and he
13:27
is us
Former Sprott executive Rick Rule speaks candidly with our Daniela Cambone on everything from the Fed’s current moves to the best safe havens for money right now. Chiming in on the silver squeeze, he also offers insight on why $PSLV has become such a popular vehicle.
In this must-see interview, Rule reflects on his career, explaining the game-changing mindset that has cultivated his success. “The essence of wealth is enhancing your wellbeing— and that isn’t all material,” he says.