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Speaker 1: The people who are involved in complex hedges in the

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silver market, I think you're going to get massacred. I mean,

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I think they're in for some truly religious experiences. To

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the extent that a short position on silver that has

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been put in place by algorithms that are looking at

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silver markets over the last forty years, those leverage guys

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are really truly in for a world of hurt.

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Speaker 2: You are listening to Carrie Lutz's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than.

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Speaker 3: Ever, And welcome. You are listening to and watching the

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Financial Survival Network. I'm your host, Carrie Leutz, and with

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us is one of the savvyest and most successful resource

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investors on the planet. Rick Rule officially in retirement, but

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I was with him last week at his investment symposium

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Resource Investment Symposium. And Rick, if you've retired, you're keeping

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it a big secret, aren't you.

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Speaker 1: I failed retirement pretty cool, pretty completely. And I'm delighted

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about that. I joke with my wife that my mind

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doesn't do well in neutral. It needs to be stimulated

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or sedated, and working for me is healthier than drinking.

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Speaker 4: But I enjoy both.

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Speaker 3: I feel exactly the same way you got a few

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years on me. But the thought of retirement is not

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something I've come to terms with yet. And this is

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the probably the greatest time to be in this sector

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of our lifetimes here right.

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Speaker 1: I don't know if this will be more successful than

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the decade of the seventies was, But coming into the

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decade of the seventies, I didn't have much experience and

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I had no money. What's different is that I have

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both now, so I suspect that I will come out

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of the next ten years much better than I came

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out of the decade of the seventies. And I came

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out of the decade of the seventies pretty well well.

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Speaker 4: Rick.

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Speaker 3: I was going to ask you this question last, but

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since you raised being broke and having no money, what

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would you buy right now if you were thirty years old,

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broke but had knowledge and nerve.

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Speaker 1: Frankly, I'd buy more knowledge. I know that's not the

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right answer.

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Speaker 4: But.

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Speaker 1: Your best asset at age thirty is compounding your knowledge

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and working on your reputation. I suspect that what an

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investor might do, assuming they have no assets looking at

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the next ten years, is to begin to save systematically

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and save probably half of what you say in gold.

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I say that not because gold will necessarily outperform other assets,

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but I think that over the next ten years, the

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purchasing power of the US dollar will decline by seventy

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five percent, and that gold will maintain at least its

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nominal purchasing power, which means that it is a high

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probability savings instrument. That's a boring answer. I'm tempted to

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say that a thirty year old who believes that he

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or she will be able to increase their disposable income

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over ten years, if they're looking at investments simply as investments,

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should consider buying exon mobile.

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Speaker 4: Yeah.

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Speaker 3: Yeah, you mentioned that during the conference and the you

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know talk about boring. You can't get any more boring

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than the Big X, So, you know, interesting, This idea

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of investing in human capital, mainly your own human capital,

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I found in my life to be the one surefire

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investment that has never failed me. In over you know,

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nearly seven decades, every time I invested in myself it

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paid back many times over time than anything else I

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ever invested in.

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Speaker 1: I would agree with that completely. Knowledge is an asset. Well,

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you can lose it, but it can't be stolen. It

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can't be taxed. The fruits can be taxed, and your

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reputation the same. What thirty year olds need to focus

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on is the group of people they choose to be

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their community, because you become the sum of your friends,

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your reputation because if you lose it's very difficult to

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rebuild it. And your knowledge, all the risks that you face, Carrie,

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probably are manageable. If you manage the risk. This to

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the left of your right ear and to the right

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of your left ear.

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Speaker 4: I couldn't agree with you more.

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Speaker 3: And like you said, the knowledge you attain, you know,

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no one can ever take it away from you. You

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can't lose it. Health, all those types of things. But

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assuming your health is good, invest in your health, invest

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in your human capital. So I wasn't going to go

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in this direction, but I have to go there with

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you now because you made me think of something at

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a connection. Ironies, the ironies of life. So we're in

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the midst of this green revolution, all right, And the

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very people who've been espousing the green revolution have been

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the people who've been holding it back because you can't

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get a mining permit. They've made the process so impossible

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to obtain a permit that we've seen companies just throw

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up their hands and say adios, I'm done.

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Speaker 4: And then our current.

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Speaker 3: President, who is the most anti anti electrification. I wouldn't

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say he's anti technology, he's just maybe common sense about it.

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His policies speeding up mind permits, things like putting the

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road through at the Ambler District in Alaska for Trilogy

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who I worked with in the past, full disclosure. But

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his policies are making the Green New Deal more accessible

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than any of his adversaries. Do you find that as

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ironic as I do?

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Speaker 1: Rick, Well, it's important to understand that the Green New

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Deal wasn't really about environment.

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Speaker 4: Let's get that out of the way.

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Speaker 1: And I also need to say I'm no particular fan

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of Trump, but I do note that he has been

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effective at rescinding executive decrees by prior administrations. And I

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have noticed myself a real change in the politics of

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the regulatory agencies, which means frequently in the regulatory agencies.

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Speaker 4: There was.

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Speaker 1: A belief at the staff level the resource projects should

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go ahead, but the politics of the agency were such

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were such that at the very least stasis was what

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you expected. Now at the BLM, which by the way,

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has really competent technical people working there, They've been hidden

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well for twenty years, but they're there now. There is

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an incentive within the organization to get stuff done. They

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can use the knowledge that they have in the agency

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to complete the regulatory process in a responsible matter. It's

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further to what you say, Carrie, mining, look at empirically,

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is an efficient use of land. You generate an awful

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lot of economic activity and an awful lot of consumer

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utility by despoiling a very small piece of earth. The

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Resolution copper mine in Arizona, when it's built after twenty

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seven years of permitting, will have substantially less environmental disturbance

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than one golf course. Golf courses are green and people

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like to play on them, so they're regarded as not

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being environmentally deleterious. But if you have a monoculture, which

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is to say, grass in a Riparian area, the truth

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is that they're environmentally extremely injuries. So it's important to

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look at the concept of environmental degradation from an empirical

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technical lens as opposed to an emotional narrative lens. And

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I think what mister Trump has been able to do

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with the regulatory agencies is allow them to return to

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empirical rather than political or narrative analysis.

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Speaker 4: Yeah, I think we'd agree.

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Speaker 3: There are probably some places minds should not be built,

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you know, due to geographical population, many factors. But you know,

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invoking his emergency authority to push these projects through something

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that we really only saw happen during wartime or run

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ups to wartime. Is this a good thing? I mean

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from our standpoint, yes, it's a good thing. We agree

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a healthy mining sector, not just for the United States

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but for the world in general, is essential to our

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continued prosperity and well being. But invoking emergency authority to

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push a copper mind through, what are your thoughts?

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Speaker 1: What I would like to see mister Trump do, and

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he won't do it, by the way, but what I'd

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like to see him do is require upfront bonding environmental

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bonding for resource development the United States, including exploration, which

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means that the company would need to propose a reclamation

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budget which the regulator would accept, and that would need

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to be funded upfront by way of an insurance policy.

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What happens right now is that the risk was socialized.

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People promise to reclaim, but you know what a promise

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is worth, particularly for a bankrupt company, It's worth nothing.

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The best way to ensure environmental compliance would be for

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the company planning to do the mind to convince the

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insurance company to take the risk and pay them the

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price for the risk that they assumed. That lets the

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taxpayer off the hook. Then the regulatory process comes to

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be involved in prohibiting the discharge of deleterious materials from

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the mind sight to the environment. Stop. That's what I'd

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like to see mister Trump do. That's not what he

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will do. What he will do will be to solicit

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campaign contributions and political favors from elements in society, like

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the oil and gas industry that he thinks are more

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aligned with him than the other side, Which is to say,

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carry the old saw that mankenhead about events elections being

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advanced option of stolen property. First to book, Democrats and

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Republicans in equal measure.

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Speaker 3: For property yet to be stolen, and couldn't agree with

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you more on that. On the other hand, maybe this

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policy aligns more with societal good than just stopping everything

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this kind of luddite response to anything that happens. I mean,

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I'm not justifying it, but I'm saying it's kind of

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like I live in Florida. So there's no state more

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corrupt than Florida than except for every other state. But

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the difference between Florida and New York is well, like

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in the Illinois there was a saying an honest judge

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is one who's fixed and stays fixed. In Floriday, you

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pay the price of admission, whatever it is, zoning variants,

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law change, whatever, but you pay for it and you

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get what you paid for. In New York, you pay

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for it and you keep paying for it and paying

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for it, and maybe one day you'll get it. And

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that's why Florida is more prosperous than New York. Maybe

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this corruption is just built in, and maybe we need

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the most effective corruption we can find.

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Speaker 1: They used to say a Mouisiana, the good thing about

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Leander Perez was he stayed bribed.

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Speaker 3: Yeah, I'm just saying So let's talk about metals markets

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silver gold divergence. Is there a lagging silver squeeze that's

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about to really hit and does forty dollars silver matter?

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Speaker 1: Uh? Let me answer that in parts. My experience has

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been that in precious metals bull markets, gold leads, and

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when gold momentum attracts the generalist investor into the space,

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leadership transfers to silver.

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Speaker 4: Whether were there or not, I don't know.

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Speaker 1: What I do know is you won't need to tell

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me when it occurred. They're usually pretty dramatic events. I've

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seen him happen three times before in my life, and

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you don't need a weatherman to tell you which way

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the wind blowing when that happens. As to a silver squeeze,

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I am not one of those who believes that there's

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been an ongoing conspiracy to depress the price of silver

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over time. I worked for great, big financial institutions, and

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the idea that they would take a negative carry a

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short position over ten years or twelve years, which affected

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quarterly cash bonuses. The probability of that occurring is nil.

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Wouldn't happen markets. All markets are manipulated in the short term,

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and they're manipulated in whatever direction is easy and is

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easier to manipulate. For forty years, you have manipulated silver

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markets down because that was their natural direction. I remember

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the nineteen seventies when trading desk would manipulate the price

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of silver up because that was the easiest direction. The

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manipulation takes place because the futures markets, the paper markets

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often trade two hundred times the available silver to cover

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on a daily basis. They're much more liquid. So the

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game works like this. A short syndicate gets involved over

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the last forty years short in the futures market six

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year duration, twelve month duration, twenty four months duration, that

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kind of thing, and they get what would be for

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you and I massively short two billion dollars short, three

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billion dollars short in a market where the nominal value

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of the positions is four hundred billion, and then they

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borrow fifty or sixty million dollars worth a billion, and

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they pound it into the market physically at whatever point

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in time the market has the least volume, and they

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use the impact of the physical market on the futures

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market to cover their shorts and pay off their physical loss.

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I mean, you see it happen time and time and

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time again. That supports long term price manipulation. I think

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that there's an aggregate of short term price manipulations. The

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eurobond market has been manipulated, the Euro market's been manipulated,

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the US treasury market's been manipulated. If you can manipulate

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markets that are that big, the silver market's a piece

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of cake. What will change, Carrie, is that the easiest

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way to manipulate the market is going to go from

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down to up.

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Speaker 4: I got it.

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Speaker 3: Yeah, that makes total total sense, and so a short

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squeeze because some of the players aren't going to figure

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this out until it happens.

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Speaker 4: Right.

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Speaker 1: The people who are involved in complex hedges in the

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silver market, I think are going to get massacred. I mean,

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I think they're in for some truly religious experiences. To

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the extent that a short position on silver that has

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been put in place by algorithms that are looking at

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silver markets over the last forty years, those leverage guys

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are really truly in for a world of hurt. Those

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I mean, you know, long term capital management worked until

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it didn't. It was a convergence trade, but the convergence

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trade wasn't set up for a third standard deviation anomaly.

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And I think the silver market's going to see a

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third standard deviation anomaly, which means that the people who

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are using silver as an unhedged corollary to some economic bet,

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and they're doing it from algorithms that are based on

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forty years of trading history, they aren't prepared for a hiccup,

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and they're gonna get a hiccup.

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Speaker 3: What you're describing is blood in the streets. Fortunately, nobody

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works in Wall Street anymore, so you don't have to

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worry about walking down the street and having a body

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you know, crashed to the ground before you because everybody's

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in their in their home office doing these trades here.

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Speaker 4: Rick.

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Speaker 3: But but seriously, this is like an existential event, what

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you're saying, and it could spread to other markets as well,

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because like you said, silver is tiny. You got thirty

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five billion dollars worth of shorts in silver, man, like

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this could just spread in one counterparty hits the hits

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the bricks, and we're talking to from the fledge.

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Speaker 4: Meltsound about that.

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Speaker 1: To be honest with you, thirty five billion dollars is

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a lot to you and me, But the notional value

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of derivatives is more like five trillion dollars. I'm not

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so concerned about that. I'm much more concerned about things

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like unfunded entitlement liabilities and the imbalance between the nominal

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and the real interest rates. I mean, if you want

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me to scare your audience, carry I can really truly

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do that. I'm less. I'm less concerned about the impact

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on Wall Street and the deriven's markets by a silver short.

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I think it'll be you know, I think there's probably

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a couple of quantitative hedge funds.

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Speaker 4: It'll go broke.

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Speaker 1: Good riddance.

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Speaker 4: No one cares about them anyway.

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Speaker 1: Yeah, you know, the derivatives market is, it's truly vast.

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There are other counterparty scenarios that scare me a lot more.

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If if maws and paws in the United States that

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own high yield ETFs junk bond ETFs get a whiff

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of the beginnings of a credit crisis like they did

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in two thousand and eight around real estate, and they

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go to sell those high yield ETFs. The ETFs are

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extremely liquid, they trade billions of dollars a day, but

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they're comprised assets that are totally illiquid. Yes, if they

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redeem the ETF and the manager has to sell the

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bonds and can't. Now that's a scenario that's truly scary.

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Speaker 3: And I remember reading Benjamin Graham. You know, he only

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wrote this almost one hundred years ago. They had junk

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bonds then. Junk bonds aren't a new thing. The liquidity

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of junk bonds are. But he said that, you know,

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no individual investor should ever buy a junk bond because

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you cannot understand it. And we've seen even the guys

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who understand the market get slaughtered by it. And yet

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there's a lot of junk out there.

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Speaker 1: Harry, in shows like yours where there's live Q and A.

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I've talked to investors that held I high yield ets

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that didn't understand that the assets were comprised of junk bonds.

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They just looked at the cover yield, not how the

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yield was generated. When I was a younger man, wasn't

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the young man, but in the eighties I was pretty

319
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active in the high yield credit market because I understand

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how to read bond covenants. And I remember that when

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Drexel Burnham started to blow apart and blew apart the

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junk bond market. We had a we had a description

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for these ill liquid bonds. We called them owl blonds.

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And we called them owl blonds because when you called

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your broker to sell, your broker would say to who too.

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Speaker 3: I had some friends that worked at Drexel, and you know,

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but then Leon Black picked over the carcasses of all

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those owls and made billions of dollars because, like you said,

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he could read a convenant.

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Speaker 1: It's a great, great, great market if you understand it.

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The oil and gas industry junk bonds in the eighties

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and the nineties made me, relative to my net worth,

333
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a large amount of money forever, great full. But I

334
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understood about oil and gas and understood about covenants. You know,

335
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I remember buying bonds with a cover yield of twelve

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percent that we're selling at sixty. So you know, I

337
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got a running yield of twenty percent and a yield

338
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maturity of thirty five percent in a dead instrument. Life

339
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doesn't get better than that. But that's not what's on

340
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offer today.

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Speaker 3: I remember making twenty percent on Ford bonds myself. But yeah,

342
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so talking about the junior resource sector, which is revivified,

343
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that's the right word as witnessed by your recent conference.

344
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You know you always said the junior resource sector is

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a broken model if you will, composed of lifestyle companies

346
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that aren't real businesses, and you know, look, we.

347
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Speaker 4: Got a lot of AI going on.

348
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Speaker 3: Do you think the AI can pick out the lifestyle

349
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companies from the real companies five years from now?

350
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Speaker 1: But you have to know how to ask AI the questions.

351
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What AI does is aggregate misinformation often, So if you

352
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ask AI to search the Edgard database or the Cedar

353
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database for companies where general and an administrative expenses less

354
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than twenty five percent of total expenditures, that's a great

355
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use of AI. But if you ask AI to look

356
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for lifestyle companies without defining what a lifestyle company is,

357
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they'll go to CNBC or Kitko or places and they'll

358
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aggregate a whole bunch of narrative and misinformation. AI is

359
00:23:47,319 --> 00:23:51,720
really good for what the Bloomberg gobots have been good for.

360
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It can search databases if you give it very very

361
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very specific correlations, and you can do it instantaneously. AI

362
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can do in terms of comparative balance your analysis. If

363
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you know how to ask the question tasks in two

364
00:24:10,160 --> 00:24:14,680
minutes that would take me two months and I'm good

365
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at it. The important part, though, is that you have

366
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to understand how to ask it the right question.

367
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Speaker 4: That is so true.

368
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Speaker 3: I've been using it for three and a half years now,

369
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and you know, like could they talk about prompt engineers

370
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and all that, Well, that's nice, but I'll tell you what,

371
00:24:36,559 --> 00:24:40,000
Like for law, I had a friend and the legal

372
00:24:40,000 --> 00:24:44,000
profession doesn't even see what's coming here. Adam Ray, friend

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of mine. She wanted to read. She wanted to amend

374
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her trust a mendor will and quit claim her condo

375
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over to her trust. And she goes to one lawyer

376
00:24:55,480 --> 00:24:59,359
forty five hundred dollars. She goes to another lawyer thirty

377
00:24:59,359 --> 00:25:02,160
five hundred. Now I'm a recovering attorney, in fact, in

378
00:25:02,279 --> 00:25:04,200
America's top recovering attorney.

379
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Speaker 4: She comes to me. I said, fuck it, Like.

380
00:25:07,640 --> 00:25:11,000
Speaker 3: I'm not writing papers, Let's throw it into the AI

381
00:25:11,119 --> 00:25:15,160
and see how it works. I think it'll do, okay, Rick.

382
00:25:15,920 --> 00:25:20,519
Twenty minutes later, I had all her documents done, multiple

383
00:25:20,599 --> 00:25:26,160
copies stapled, and they were ready to be witnessed and notarized.

384
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Speaker 4: And they worked.

385
00:25:28,839 --> 00:25:31,400
Speaker 3: They were perfect. In fact, they were better than the

386
00:25:31,480 --> 00:25:34,839
documents I would have created. Myself because I'm a master

387
00:25:34,960 --> 00:25:39,680
of typos, and there wasn't one typo. And that's just

388
00:25:39,759 --> 00:25:42,319
one area. So I had the legal expertise. I could

389
00:25:42,319 --> 00:25:44,880
look at the docs and know that they were.

390
00:25:44,880 --> 00:25:48,160
Speaker 1: You edit it, you can shape the product, and then

391
00:25:48,200 --> 00:25:51,079
you can consume the product. That's important. I asked AI

392
00:25:52,000 --> 00:25:54,359
to try to do some work for me in anticipation

393
00:25:54,400 --> 00:25:58,960
of an interview about six weeks ago talking about debt

394
00:25:59,079 --> 00:26:02,720
deficit on baalllot sheet liability stuff like that. I didn't

395
00:26:02,720 --> 00:26:08,920
specify source, and so they went through Twitter and CNBC

396
00:26:10,039 --> 00:26:15,000
and ABC and CBS, and what I got was an

397
00:26:15,079 --> 00:26:20,559
aggregation of misinformation. They didn't, as an example, talk about

398
00:26:20,880 --> 00:26:23,920
They talked about one balance sheet liabilities, you know, thirty

399
00:26:23,960 --> 00:26:28,440
seven trillion. They talked about net on balance sheet liabilities

400
00:26:28,519 --> 00:26:31,319
thirty trillion net of the seven. But they don't talk

401
00:26:31,359 --> 00:26:38,240
about unfunded entitlements. They missed completely the one hundred trillion

402
00:26:38,279 --> 00:26:42,559
dollar elephant in the room. So it's important that somebody

403
00:26:42,599 --> 00:26:49,359
be like Harry Lutts, somebody use AI in a subject

404
00:26:49,359 --> 00:26:51,279
that they know well enough that they can frame the

405
00:26:51,359 --> 00:26:54,119
question and they can judge the product.

406
00:26:55,720 --> 00:26:56,359
Speaker 4: So true.

407
00:26:56,519 --> 00:27:00,119
Speaker 3: We used to say garbage in garbage out Now, it's

408
00:27:00,160 --> 00:27:05,920
garbage in landfill out. I mean it's so true because

409
00:27:06,680 --> 00:27:10,960
you can ask it questions and they're theoretically correct, but

410
00:27:11,039 --> 00:27:15,960
they're absolutely on a factual level they're wrong. And I

411
00:27:16,000 --> 00:27:19,240
see it all the time. But if you can't recognize it,

412
00:27:20,000 --> 00:27:23,279
then you're going to spout out garbage that you don't

413
00:27:23,279 --> 00:27:25,880
really understand. That's the whole problem with AI. It's a

414
00:27:25,920 --> 00:27:32,079
black box and nobody really understands how it's producing its

415
00:27:32,160 --> 00:27:33,319
results at this point.

416
00:27:33,920 --> 00:27:34,160
Speaker 4: Right.

417
00:27:34,880 --> 00:27:38,640
Speaker 1: We're seeing now in the exploration business. In exploration, we

418
00:27:38,680 --> 00:27:42,279
have a thing called coincident anomalies where you might look

419
00:27:42,319 --> 00:27:46,599
at ten different factors and you might look you look

420
00:27:46,640 --> 00:27:52,400
for areas where favorable data overlays itself geographically right. And

421
00:27:52,519 --> 00:27:55,640
AI has the potential to do that spectacularly well. It

422
00:27:55,680 --> 00:27:59,519
has the potential to look, as an example, at two

423
00:27:59,519 --> 00:28:03,079
thousandsquare miles of Earth from a landsat photo, look at

424
00:28:03,079 --> 00:28:07,559
spectral differentiation so that you can understand how different landforms

425
00:28:08,400 --> 00:28:14,759
respond to light differently from space. Merge that with visible

426
00:28:14,759 --> 00:28:20,720
structures you know callederas or faults. Merge that with historical

427
00:28:20,880 --> 00:28:27,920
ground data, historical geophysical data. Each of those inputs might

428
00:28:27,960 --> 00:28:32,880
take a researcher two or three weeks to do. In

429
00:28:32,920 --> 00:28:37,279
the old days, we used to actually make vellums overload them.

430
00:28:37,759 --> 00:28:40,799
AI can do that. AI can take two thousand square

431
00:28:40,839 --> 00:28:47,960
miles of earth and define a thousand acre target so

432
00:28:48,000 --> 00:28:51,119
that geologists don't have to look at two thousand square miles,

433
00:28:51,119 --> 00:28:54,680
they can look at one square mile. That's a great

434
00:28:54,799 --> 00:28:57,680
use of AI. It's a great use of AI. And

435
00:28:57,720 --> 00:28:59,119
over the next five years we're going to learn how

436
00:28:59,160 --> 00:29:02,200
to do this, and we're to develop data sets that

437
00:29:02,279 --> 00:29:05,599
are AI usable. You know, it's going to actually change

438
00:29:05,599 --> 00:29:08,359
the way we develop in store data to make it

439
00:29:08,400 --> 00:29:11,519
assimilable on AI. That's that's going to be fantastic.

440
00:29:12,839 --> 00:29:16,440
Speaker 3: And then if the Elon Musk starts taking as tunneling

441
00:29:16,519 --> 00:29:20,720
machines and devotes them to mining, we might really have

442
00:29:20,799 --> 00:29:22,960
a revolution in the mining space.

443
00:29:23,799 --> 00:29:27,279
Speaker 1: That's coming the you know, the oil and gas business

444
00:29:27,319 --> 00:29:30,720
has undergone as spectacular transformation the last thirty years through technology.

445
00:29:31,759 --> 00:29:33,440
My mining friends will hate this, but the oil and

446
00:29:33,440 --> 00:29:37,480
gas guys are smarter. That's coming to mining. You know,

447
00:29:37,519 --> 00:29:40,880
it really truly is coming to mining. The technology that's

448
00:29:40,920 --> 00:29:44,680
worked in oil and gas around geophysics will come to mining.

449
00:29:44,720 --> 00:29:46,920
I don't know what it'll be, you know, maybe it'd

450
00:29:46,920 --> 00:29:51,000
be Robert Friedan's typhoon typhoon. Who knows what it'll be.

451
00:29:51,799 --> 00:29:55,559
But eventually we will have some form of tool the

452
00:29:55,640 --> 00:29:58,400
human I sees an ankstrum into the earth. We'll have

453
00:29:58,480 --> 00:30:02,079
some form of tool that will allow us to do

454
00:30:02,200 --> 00:30:04,240
for mineral deposits what we can do for oil and

455
00:30:04,279 --> 00:30:07,279
gas deposits today. That may or may not be an

456
00:30:07,319 --> 00:30:12,519
AI enabled tool, but technology will truly transform mining. It's

457
00:30:12,839 --> 00:30:18,640
interesting that a rocket scientist, Elon Musk is the guy

458
00:30:18,680 --> 00:30:24,480
who came to us with a more efficient, boring technology,

459
00:30:24,680 --> 00:30:27,200
given that our industry had been boring for three hundred years.

460
00:30:27,759 --> 00:30:31,559
It's interesting that the technological innovation came from outside of

461
00:30:31,599 --> 00:30:33,200
the experienced class.

462
00:30:34,279 --> 00:30:36,640
Speaker 3: And all from well, I don't know if the origin

463
00:30:36,759 --> 00:30:38,880
story is true or not that he got fed up

464
00:30:38,920 --> 00:30:41,640
with traffic in La one day and said I'm just

465
00:30:41,680 --> 00:30:42,680
going to dig a tunnel.

466
00:30:43,839 --> 00:30:44,839
Speaker 4: That's a little too.

467
00:30:44,720 --> 00:30:49,559
Speaker 3: Pat Well, if it's true, having been to Vegas and

468
00:30:49,720 --> 00:30:54,240
ridden on that thing, and the people they can't see

469
00:30:54,279 --> 00:30:58,200
the potential for this rick Like I live in Florida,

470
00:30:58,359 --> 00:31:01,480
we have nothing but traffic. The idea of being able

471
00:31:01,480 --> 00:31:04,160
to go under it all and not have traffic lights

472
00:31:04,640 --> 00:31:09,759
and Florida drivers. I mean, I don't see how that's

473
00:31:09,880 --> 00:31:13,640
just for tunneling for transportation, but for mining to be

474
00:31:13,680 --> 00:31:17,279
able to bore through an entire mountain you know exactly

475
00:31:17,279 --> 00:31:19,079
where you need to go and not have to worry

476
00:31:19,119 --> 00:31:20,799
about collapses and all that.

477
00:31:21,359 --> 00:31:23,440
Speaker 4: I mean, who cannot see the potential of this.

478
00:31:23,960 --> 00:31:24,920
Speaker 1: At a quarter of the cost?

479
00:31:25,440 --> 00:31:25,640
Speaker 4: Yep?

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00:31:25,960 --> 00:31:28,519
Speaker 1: Yeah, I mean you know, we we do more we

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00:31:28,599 --> 00:31:32,720
do boring in mining. And by boring I mean tunnels.

482
00:31:32,720 --> 00:31:34,319
I don't mean the fact that our business is boring,

483
00:31:34,400 --> 00:31:38,880
which is also true. But the idea that you can

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00:31:38,920 --> 00:31:43,119
increase the efficiency and cut the cost substantially changes things.

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00:31:43,279 --> 00:31:46,720
Speaker 3: And the environmental aspects of it too, and the safety

486
00:31:47,759 --> 00:31:50,599
mining when you get down to it, you start going

487
00:31:50,640 --> 00:31:55,920
into those tunnels, it's dangerous down there and anything can happen.

488
00:31:56,400 --> 00:32:00,000
So well, I always appreciate your coming on the show.

489
00:32:00,000 --> 00:32:03,000
So Rick, where's the best place to find your work

490
00:32:03,039 --> 00:32:05,160
and your latest missive?

491
00:32:05,880 --> 00:32:08,319
Speaker 1: The best place to reach me and the one with

492
00:32:08,400 --> 00:32:11,559
the most current incentive is it Rule Investment Media. If

493
00:32:11,599 --> 00:32:14,480
you go there and list your natural resource stocks, I will,

494
00:32:14,519 --> 00:32:18,440
for no obligation review them. Please no textoks, please no

495
00:32:18,559 --> 00:32:22,880
pot stocks please, no crypto resource stocks only Rule Investment Media.

496
00:32:23,759 --> 00:32:24,519
Speaker 4: Give me a little while.

497
00:32:24,559 --> 00:32:27,000
Speaker 1: I'm about two hundred and fifty responses behind because of

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00:32:27,000 --> 00:32:30,000
the conference last year. The other thing is if for

499
00:32:30,079 --> 00:32:31,960
some reason you missed that conference, maybe you have a

500
00:32:31,960 --> 00:32:35,720
life or something like that. The conference tapes are valuable.

501
00:32:36,920 --> 00:32:39,319
We sell the conference tapes after the fact with a

502
00:32:39,319 --> 00:32:42,480
full money back guarantee. If you play the tape and

503
00:32:42,519 --> 00:32:44,759
think I didn't give you your money, I'll give you your money back.

504
00:32:45,759 --> 00:32:51,319
Rule Symposiums look forward to seeing your listeners either place.

505
00:32:51,599 --> 00:32:53,640
I'm glad you enjoyed the conference. Carry I hope we

506
00:32:53,960 --> 00:32:56,240
see you there next year. We're going to bring it

507
00:32:56,319 --> 00:32:58,839
back to a neighborhood in Florida, close to you, all.

508
00:32:58,839 --> 00:33:02,960
Speaker 3: Right to thirty five miles down the road. Maybe you

509
00:33:03,000 --> 00:33:08,720
should think about using some AI to to update those

510
00:33:09,240 --> 00:33:11,359
emails that are stacking up there.

511
00:33:11,440 --> 00:33:16,640
Speaker 1: Rick, Well, we have a person who is looking at

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00:33:17,319 --> 00:33:22,200
bringing the entire Rule Investment Media business into the century

513
00:33:23,240 --> 00:33:27,240
kicking and starting as a person is less than half

514
00:33:27,279 --> 00:33:30,599
my age, and I suspect we'll be able to cause

515
00:33:30,680 --> 00:33:32,400
some minor miracles to occur.

516
00:33:33,240 --> 00:33:36,200
Speaker 3: No surprise there. I would expect somebody half our age

517
00:33:36,240 --> 00:33:38,519
to be in the thick of it. Hey, if you've

518
00:33:38,519 --> 00:33:41,200
got a question for Rick myself, shoot me an email

519
00:33:41,440 --> 00:33:43,519
kl at Kerrie lets dot com.

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00:33:43,519 --> 00:33:44,880
Speaker 4: We'll get you an answered.

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00:33:44,519 --> 00:33:49,440
Speaker 3: Quick and you'll find a link to rickcite in the

522
00:33:49,440 --> 00:33:53,079
show notes of this interview on Financial Survival Network dot com.

523
00:33:53,480 --> 00:33:55,240
And if you go there, just sign up for your

524
00:33:55,279 --> 00:33:58,720
free newsletter. Rick, always a pleasure. Talk to you again real.

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00:33:58,680 --> 00:34:01,680
Speaker 1: Soon, my pleasure carry Thank you. I welcome the opportunity

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00:34:01,680 --> 00:34:02,119
to come back.

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00:34:02,319 --> 00:34:06,480
Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your

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00:34:06,559 --> 00:34:10,360
solution to today's trying times. For the latest, go to

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00:34:10,559 --> 00:34:16,760
Financial Survivalnetwork dot com. Financial Survival Network now more than ever,