'Why I’m Using More Cash,' as My Worst Nightmare Closes In Warns Rick Rule
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“The enemies of the U.S. dollar are not Saudi Arabia. They aren’t China. They aren’t Russia,” says Rick Rule, founder and CEO of Rule Investment Media. “The worst enemy of the U.S. dollar, rather than being external, it’s from within.” He argues that the U.S. is facing more than $130 trillion of debt and Congress has promised to service with a budget that’s in deficit $2 trillion a year. “You don’t dig yourself out of a hole by digging deeper.. which is precisely what we were doing,” Rick says. However, he is still impressed by the resilience of the U.S. economy and advises young people to follow their passion if they want to succeed. In regards to latest rollouts of central bank digital currencies, Rick says it’s the “worst possible nightmare” because the digital currency program will allow governments to monitor people and control their money. “I am using more and more cash,” Rick says. He concludes that the deficits, debt issues, and negative real interest rates will tempt folks to explore the precious metals sector, including physical gold and gold-mining companies.
#federalreserve #gold #rickrule #cbdc #china #imf #investing #russia #usdollar
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00:00 De-dollarization
13:30 Economic outlook
17:04 Rick’s advice on youngsters
21:17 Rick’s thoughts on the Fed
23:52 Rick starting banks
29:26 Investor education
31:57 Gold price
35:23 Rick’s final thoughts on central bank digital currencies
Bitcoin and other crypto news, prices and info.
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