⚡ If you're already a Notion AI user, you can get started today with Q&A already in your Notion workspace: ntn.so/davidlinqa How will this "crisis of confidence" unfold? Tell us how you feel in the comments below and don't forget to subscribe! FOLLOW RICK RULE: Rule Investment Media: ruleinvestmentmedia.com/ Twitter (@RealRickRule): twitter.com/RealRickRule RUclips: www.youtube.com/@RuleInvestmentMedia
About the current bank situation, I'm really concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $840k out of my bank. Since the FDIC only provides coverage up to $250K, an implosion could have negative consequences. presently want to invest in the stock market. Does anyone have any ideas on how I might proceed?
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
We fail to realize that banks are commercial enterprises that are driven by greed as well. The over-leveraging of assets by banks starting in 2020 was one of the factors that led to SVB's collapse. I've never felt secure keeping a large sum of money in a bank. In other words, I invest through my financial advisor, reap the benefits, and then spend the money.
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with " Sonya Lee Mitchell” for years and highly recommend her See if she meets your criteria.
@@tomtesoro5465uh oh,the grammar police are on duty. Hey fella, do you feel good, smart,better, during and after whatever it is that you just did to someone's spelling or actually lack of a pronunciation symbol. Is it a feeling of superiority when your u can make some meaningless correction? I am trying to understand my fellow human beings,but it's getting more difficult, not mo' betta
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency and stocks, through the assistance of my discretionary fund manager
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
~Mrs Caroline Arnold was my hope during the bear summer last year. I did so many mistakes but also learnt so much from it, and of course from Caroline Arnold. She is my number one when it comes to crypto and TA.
Why don't we ever consider cutting military/war budgets rather than cutting old people's budgets? Not to mention all the other absurd things governments waste money on?
im closer to a wall street guy than a main street guy, but i have to agree that these banks that make risky moves should not be bailed out. of course they are going to take imprudent risks if they are going to get bailed out. it's like going into a casino, buying $1000 worth of chips knowing that you'll be refunded $1000 at the end of the day if you lose. of course they are going to bet recklessly.
Listen to Rick carefully, the corruption of the system has gone beyond what you said here, it is clear in the rule that only $250k is covered, but if you are politically connected, your jumble will be covered!
It's theft by the corrupted, look at folks like Epstein and Weinstein and Rosenberg and the like. These synagogue of Satan alumni have been at this since the dawn of time. Yes, blackmail and extortion is the name of their game. Is it not so very ez to see 👹
Mining companies are poor citizens. In the Yukon canada there are millions spent trying to clean up the contaminated sites abandoned by irresponsible actors. Cyprus Anvil mine which was subsidized by the government in the 80's has a 500 year cleanup plan. Please explain the economics of that to the Canadian taxpayers
Right about now would be a great time to upload a song about banks collapsing and the hardships for common folk. 🤔 Any old tunes about when the U.S. confiscated the gold coins?
Governments around the world ARE actively working to reduce the expenditures to services for seniors by actively eliminating the seniors through the creation and propagation of never before existing viruses that seem to target the aged and those with co-morbidities that use those expenditures!
Rule is a wordsmith; much enjoyed conversation although the implications are terrifying! Thought exercises aside, if the past is prologue the future is now. Good luck everyone!
Love David's interviews. My favorite was from the other day when that window washer suddenly appeared behind you out of the bottom of the screen and basically climbed this way to the top and David just played along with it. Inly question is - what floor are they on? 😅
David, increase taxation is not the solution, income tax started at 4% in the US, we are at 40-50% right now. The solution is limit expenditures and have a healthy budget with surplus and not deficit. If I make $100k a year, can I spend $150k every year and not go broke?
banks get to loan out 20x the money that they have on deposit. So they loan at 8%, x 20 is 160 %, pay you 1% on your deposit (at most) so they lose 2% on their "old" loans/bonds, so what? they are NOT hurting, folks.
Always a joy to see you here, Rick; and you always seem to be 95% correct in your observations! (I am still working full time at age 76, but the Canadian Gov't has NOT been handing me more money, in fact, although a low income earner, the Gov't has drastically clawed back my old age security payments; and i got hit with the worst income taxes in my lifetime). Agree with you on 7% inflation, but parts costs for equipment seems a lot higher than that.
there's NO shortage of silver. We USED to burn thousands of tons of it per year in photography, but that has not been true for 20+ years. The stuff is very bulky for its value, so it's hard to carry around and conceal. It also corrodes/gets milk spots. I've got a few rolls of silver quarters for barter, a few ozs of 1/10th oz gold coins, a $50, very sensitive scale for weighing shavings off of the edges of gold coins, or chunks cut from silver coins with a chisel. The rest is one oz coins NOT from the US, cause US coins screw you out of another $40 per coin, vs Maple leafs, Britannicas, or Krugerrands. I would not touch silver eagles with a 10 ft pole. YOu're going to lose at least 20% on each one. To hell with THAT noise!
If the politicians over the years would have left the social security accumulate instead of using it for everything what it was not intended for and just throwing in an IOU that some day would make up the difference which was total BS social security would be solvent today.
I’m going to disagree with Ricks comment , too much money given to old folks it’s more than they put in. That may be true for the lower paid workers but it’s not for someone who maxed out their SS every year for 45 years. Add to that the top tax brackets and the additional 7% we business owners pony up on our own SS it’s going to take a long long time to just get back the principal of those SS deductions. I start this month receiving SS and at the same time paying 15% at the maximum cap as I am still working. So I need to live to at least 100 to break even.
There will be a moment after which no country will be willing to sell tangible products or services and get paid in worthless paper money. In 2001 73% of international settlements was done in USD. In 2023 it was 58% and dropping fast. The only asset of the US economy which is the USD will become a catastrophic liability...
I greatly appreciate just how much time Rick gives and wisdom he passes on. I think Rick is a great role model and example for any investor - or any individual really - because he quickly dispels the nonsense that you can get very lucky and get rich quickly. I’ve listened to one particular interview a number of times, My Life in Four Trades with Rick Rule. When I compare Rick to the career politicians and business leaders in my life, it’s genuinely sad. Over time, I’ve learned a lot from listening to Rick. Always measured and has a great facility with the language. Unquestionably one of the more honest and humble experts that I have seen too. But one of the things I have come to appreciate most about Rick is that he has a deep understanding of the value of community, something which is being badly eroded in the western world in my eyes.
I started working, and paying Social Security taxes, when I was 14. I was not given a choice. I did not vote for it. This old, rich guy, is telling me that I'm going to have to do without.
The Currency Crisis of 1967 created another line on LBJ's face. Without Appropriating funds for a War on Poverty, chances of re-election seemed dim with Kids outside the White House, saying, "Hey Hey, LBJ, How many kids did You kill today?" Mike Mansfield was forced to deliver the bad news. His Predecessor had pissed away the Treasury contents, on some Colonial Conflict in Asia. So LBJ understood his position. The last 3 Administrations appear to have little problems as Victoria Nuland's War killed Eastern European Kids. Vicky went to work for the Clinton s. No Draft Board was seeking Kids to send to Southeast Asia. Nixon Administration work adjusted the Currency. The introduction of Fiat Dollars went smoothly till Bush Administration allowed Vicky to start spending all she needed to convince the Eastern European Nations to join NATO. Now here we are looking at a Currency Crisis that even LBJ never imagined. The FED has no liquidity to add to Banks. Yellen is incapable of selling Treasury Paper. Congress has diminished the amount of liquid assets that Banks must retain. Congress appears to be determined to pay the bills, with Russian Assets. Russia disagrees. The FED now seems to be the Bank with the Cash problem? They are unable to spread the Play (Fiat) Money around. There is no support for the Printer. That seems to get overlooked...... Kids today have Credit Cards. They do not carry signs about Kids Dying in Nam, they do not notice Carpathian Kids getting fried . So the current Administration takes the blame for Money issues, but not for any Current Events. The GAO measures Consumer support, by including Credit spending in the bottom line. How is the Consumer Debt supposed to go away? Is there enough profits to erase Consumer Debt? How is the Treasury Debt going to go away? Are the Kyiv Guys going to attack Moscow and take their assets? Like LBJ viewing that Currency Crisis, Biden has good reason to appear disoriented? Why is the USA attacking Russia. Do we need their resources? Has BRICS taken the Colonies and created a Trade Union?
Regardless of this channel (seemingly) being geared primarily torwards gold,silver & crypto, I have to say, I greatly admire David's strides in excellence. For ex: when he asks the listeners for questions prior to the guest arrival, that's not only intelligent, it's another way he is always moving toward supreme. 👏 Bravo
Rick’s comment regarding taxes - he does not look at it from a lense of % of personal wealth paid in taxes - the poor will ALWAYS pay a higher percentage of their personal wealth in taxes. In terms of volume of taxes the poor will pay less because they are POOR and they are caught in the vicious cycle of paying a higher percentage of their wealth in taxes
I don't think people put less money into social security than they get back if you consider how much that money would be in old age if it was put in Vanguard index funds. Medicare costs could be lowered by 2/3 without any increase in mortality or illness.
Just because 2008 happened doesn't mean it will happen again. The people running the show get more and more clever about preventing major economic disaster.
Thanks for having Rick Rule on. He has sound financial principles. Many are sounding the alarms and we see financial troubles everywhere! Printing your way out of debt is impossible. The economy died in 2008. We have been on life support since then.
Lower interest rates are inevitable if the economy crashes which is it showing signs of doing, sooner or later it will happen. You can't disregard the flattening of the economy in China. Inflationary pressures will exist but they will further flatten economic growth.
I think there is a common misunderstanding about Capital Gain Taxes in Canada. Currently, half of any capital gain is tax-exempt, while the other half is subject to tax. However, the actual amount of taxes paid depends on the individual's income level. For example, if you made a $300,000 gain, $150,000 would be tax-free, and the remaining $150,000 would have tax implications. However, if you have room for $100,000 in RRSP investments and haven't earned any other income, your taxable income would be $50,000. In this scenario, your taxes would be around $10,000 to $15,000, depending on deductions. So you made 300,000 and pay 10,000-15,000. Now, there's a proposal to increase the taxable portion of capital gains beyond 50%. Even if they raise to 100%, it still depends on the person’s income level for the year.
David! Rick Rule is always a great interview. Literally an asset for a financial mind, feeding it with common sense as nutrition. But why is it when he speaks on a subject, I feel like he’s making fun of me? But I end listening feeling wiser?
"People often ask me... How can I Save a million dollars? First... get a million dollars, then don't spend it. Next thing you know your Saving a million dollars" Steve Martin
⚡ If you're already a Notion AI user, you can get started today with Q&A already in your Notion workspace: ntn.so/davidlinqa
How will this "crisis of confidence" unfold? Tell us how you feel in the comments below and don't forget to subscribe!
FOLLOW RICK RULE:
Rule Investment Media: ruleinvestmentmedia.com/
Twitter (@RealRickRule): twitter.com/RealRickRule
RUclips: www.youtube.com/@RuleInvestmentMedia
Good he points out that Russia spends more it takes in, comapre to Steve Hanke that believes Russian economy is going well...
YES BUY THE DIP OF BANKS WEN THEY FAIL, DID THE SAME THING LAST BANK FAILURE LAST YEAR..NO FEAR ...LETS GO..
About the current bank situation, I'm really concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $840k out of my bank. Since the FDIC only provides coverage up to $250K, an implosion could have negative consequences. presently want to invest in the stock market. Does anyone have any ideas on how I might proceed?
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
We fail to realize that banks are commercial enterprises that are driven by greed as well. The over-leveraging of assets by banks starting in 2020 was one of the factors that led to SVB's collapse. I've never felt secure keeping a large sum of money in a bank. In other words, I invest through my financial advisor, reap the benefits, and then spend the money.
Could you recommend your advisor? I'll be happy to use some help.
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with " Sonya Lee Mitchell” for years and highly recommend her See if she meets your criteria.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
David Your really creating a legacy brand of great content
‘YOU’re NOT “ your” ignorance is spreading!
@@tomtesoro5465don’t get hung up on speeling
This is a paid advert for battle bank. And you can't even tell haha
@@tomtesoro5465uh oh,the grammar police are on duty. Hey fella, do you feel good, smart,better, during and after whatever it is that you just did to someone's spelling or actually lack of a pronunciation symbol. Is it a feeling of superiority when your u can make some meaningless correction? I am trying to understand my fellow human beings,but it's getting more difficult, not mo' betta
I never get tired of listening to Rick I always come away a little bit smarter.
What do you get tired of, then? Very curious - please do share! On the edge of the seat there to understand that
@@simrans3675EB Tucker
I do
71 years old!? This guy looks great for his age.
Yeah he does.
Should rename your handle as gayman
Old fart
@@Discovery2024-rn8kn Bro chill 😂😂
Rick Rules is the best!!
Battle Bank. Love it!! Rick tells you what he thinks. It's refreshing.
How do most of you guys still making profit? Even with the downturn of economy and ever increasing life standards
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency and stocks, through the assistance of my discretionary fund manager
Mrs Caroline Arnold
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Yeah that's right I think it's right to invest with professional at least it saves the trauma of too much loses
~Mrs Caroline Arnold was my hope during the bear summer last year. I did so many mistakes but also learnt so much from it, and of course from Caroline Arnold. She is my number one when it comes to crypto and TA.
All Rick Rule interviews are great, but this one was amazing. Especially for Canadians
If you have the means to leave Canada asap you’d be braindead not to.
Rick is so well spoken!
This was my favorite interview so far!! What a great guy!!
Great interview David!
Why don't we ever consider cutting military/war budgets rather than cutting old people's budgets? Not to mention all the other absurd things governments waste money on?
Corruption in Congress and government is rampant!
$4 tril to invade Iraq. $5 tril to invade Afghanistan. $140 bil to corrupt Ukraine? WTF with all of this?
The Military is what backs our currency. Without the Military, much of the world would give us the big middle finger.
We just need an old people's lobbying group that can out-bribe...., excuse me, outspend the others. Problem solved!
Because war is as certain as the sun rising tomorrow, and there were many very wealthy Jews in Nazi Germany that were exterminated.
always fun to hear from Rick, as entertaining as informative, go battle bank! what a great name
Time well spent thank you both
Rick Rule such legend
Got yr savings in that bank have you?
im closer to a wall street guy than a main street guy, but i have to agree that these banks that make risky moves should not be bailed out. of course they are going to take imprudent risks if they are going to get bailed out. it's like going into a casino, buying $1000 worth of chips knowing that you'll be refunded $1000 at the end of the day if you lose. of course they are going to bet recklessly.
Listen to Rick carefully, the corruption of the system has gone beyond what you said here, it is clear in the rule that only $250k is covered, but if you are politically connected, your jumble will be covered!
It's theft by the corrupted, look at folks like Epstein and Weinstein and Rosenberg and the like. These synagogue of Satan alumni have been at this since the dawn of time. Yes, blackmail and extortion is the name of their game. Is it not so very ez to see 👹
Propper analogy
@cockyhemi-123That’s not what happened March 2023.
You're closer to what ?
Mining companies are poor citizens. In the Yukon canada there are millions spent trying to clean up the contaminated sites abandoned by irresponsible actors. Cyprus Anvil mine which was subsidized by the government in the 80's has a 500 year cleanup plan. Please explain the economics of that to the Canadian taxpayers
Thank you both for this awesome interview, it’s a pleasure to learn from Mr Rick Rule!
Finally a normal person on the show.
Right about now would be a great time to upload a song about banks collapsing and the hardships for common folk.
🤔 Any old tunes about when the U.S. confiscated the gold coins?
@@_Thoughtful_Aquarius_ There is an old song that goes, "I don't want your greenback dollar..."
Governments around the world ARE actively working to reduce the expenditures to services for seniors by actively eliminating the seniors through the creation and propagation of never before existing viruses that seem to target the aged and those with co-morbidities that use those expenditures!
???
Rick is the greatest boomer alive . Thanks David and Rick !
thanks, David. I appreciate Rick Rule, I think he has a noble sense of giving back and he does so with all the interviews he gives.
What an intro, well deserved. Great job, David.
Rule is a wordsmith; much enjoyed conversation although the implications are terrifying! Thought exercises aside, if the past is prologue the future is now. Good luck everyone!
As Rick said, you are always so very well prepared for all your interviews. Great work David 👏🏻
Great interview, I love listening to Rick Rule he speaks sense which seems to be lacking in recent times 👍
What a GREAT interview...thank you David and Rick...
What's Rick's take on crypto?
One of the best interviews I’ve seen in a while. Great work by both David and Rick.
David, what you do is amazing. Can’t get enough of it.
Always good to hear from Mr. Rule. Thank you.
Your guest tonight was amazing. He talked me into swapping some crypto for gold. I loved his interview
Love David's interviews. My favorite was from the other day when that window washer suddenly appeared behind you out of the bottom of the screen and basically climbed this way to the top and David just played along with it. Inly question is - what floor are they on? 😅
Haha
Good interview David; questions were on point.
Salam Mr. David
Love and respect from Iraq
😀💯❤🤍✌
David, increase taxation is not the solution, income tax started at 4% in the US, we are at 40-50% right now.
The solution is limit expenditures and have a healthy budget with surplus and not deficit. If I make $100k a year, can I spend $150k every year and not go broke?
He is so wise knowledgeable. Thanks#
Giving social benefits to people who have never paid into the system is the reason for its failure.
Never get tired of listening to Nick.
Rick rule is a legend and david is amazing. 2 amazing guys. Carefully listen to rick rule. He is the smartest and best there is.
banks get to loan out 20x the money that they have on deposit. So they loan at 8%, x 20 is 160 %, pay you 1% on your deposit (at most) so they lose 2% on their "old" loans/bonds, so what? they are NOT hurting, folks.
Bingo
I can't wait for Battle Bank. I wish Rick and his team the best.
Always a joy to see you here, Rick; and you always seem to be 95% correct in your observations! (I am still working full time at age 76, but the Canadian Gov't has NOT been handing me more money, in fact, although a low income earner, the Gov't has drastically clawed back my old age security payments; and i got hit with the worst income taxes in my lifetime). Agree with you on 7% inflation, but parts costs for equipment seems a lot higher than that.
A guest that is a realist and has a very keen sense of what’s what’s.
Rick is the best
there's NO shortage of silver. We USED to burn thousands of tons of it per year in photography, but that has not been true for 20+ years. The stuff is very bulky for its value, so it's hard to carry around and conceal. It also corrodes/gets milk spots. I've got a few rolls of silver quarters for barter, a few ozs of 1/10th oz gold coins, a $50, very sensitive scale for weighing shavings off of the edges of gold coins, or chunks cut from silver coins with a chisel. The rest is one oz coins NOT from the US, cause US coins screw you out of another $40 per coin, vs Maple leafs, Britannicas, or Krugerrands. I would not touch silver eagles with a 10 ft pole. YOu're going to lose at least 20% on each one. To hell with THAT noise!
Film based radiography also used silver. Very few industries use film anymore...they went to computed or digital radiography
I assume you own a cash flowing business, rental properties, dividend portfolio etc. since PMs appear to be a very small % of your NW?
Huh. He knew so much about Canadian politics i thought he was Canadian
Would've been good to ask him on investing in gold vs gold miners
Can’t figure out which one of your videos is better haha. Keep up the good work!
You can tell Rick really does enjoy what he does
Top guest. Brilliant and balanced mind
If the politicians over the years would have left the social security accumulate instead of using it for everything what it was not intended for and just throwing in an IOU that some day would make up the difference which was total BS social security would be solvent today.
Rick Rule is a G
I’m going to disagree with Ricks comment , too much money given to old folks it’s more than they put in.
That may be true for the lower paid workers but it’s not for someone who maxed out their SS every year for 45 years. Add to that the top tax brackets and the additional 7% we business owners pony up on our own SS it’s going to take a long long time to just get back the principal of those SS deductions. I start this month receiving SS and at the same time paying 15% at the maximum cap as I am still working. So I need to live to at least 100 to break even.
David you look better than usual good on you 😊
Great interview. Thanks!
Excellent discussion!
David Lin, you're the Larry King of our times. Keep up the good work, sir. 👍
rick is good, real knowledgeable
There will be a moment after which no country will be willing to sell tangible products or services and get paid in worthless paper money. In 2001 73% of international settlements was done in USD. In 2023 it was 58% and dropping fast. The only asset of the US economy which is the USD will become a catastrophic liability...
So will everyone demand to be paid in gold, silver, euros or another currency instead?
This guy is super interesting and a great interview
I greatly appreciate just how much time Rick gives and wisdom he passes on.
I think Rick is a great role model and example for any investor - or any individual really - because he quickly dispels the nonsense that you can get very lucky and get rich quickly. I’ve listened to one particular interview a number of times, My Life in Four Trades with Rick Rule. When I compare Rick to the career politicians and business leaders in my life, it’s genuinely sad.
Over time, I’ve learned a lot from listening to Rick. Always measured and has a great facility with the language. Unquestionably one of the more honest and humble experts that I have seen too. But one of the things I have come to appreciate most about Rick is that he has a deep understanding of the value of community, something which is being badly eroded in the western world in my eyes.
I started working, and paying Social Security taxes, when I was 14. I was not given a choice. I did not vote for it. This old, rich guy, is telling me that I'm going to have to do without.
I just posted a similar comment…. working since I was 10.
He’s right. Complain to your government I’m sure they’ll care.
Lin+Rule=Competence
Everyone talks economics when they should be talking corruption.
This guy is the real deal. No bad talk about digital assets. Very honest. Great guest.
Great guest. Great interview David!
Great interview.
The Currency Crisis of 1967 created another line on LBJ's face.
Without Appropriating funds for a War on Poverty,
chances of re-election seemed dim with Kids outside the White House,
saying, "Hey Hey, LBJ, How many kids did You kill today?"
Mike Mansfield was forced to deliver the bad news.
His Predecessor had pissed away the Treasury contents,
on some Colonial Conflict in Asia.
So LBJ understood his position.
The last 3 Administrations appear to have little problems as
Victoria Nuland's War killed Eastern European Kids.
Vicky went to work for the Clinton s.
No Draft Board was seeking Kids to send to Southeast Asia.
Nixon Administration work adjusted the Currency.
The introduction of Fiat Dollars went smoothly till Bush Administration
allowed Vicky to start spending all she needed to convince
the Eastern European Nations to join NATO.
Now here we are looking at a Currency Crisis that even LBJ
never imagined.
The FED has no liquidity to add to Banks.
Yellen is incapable of selling Treasury Paper.
Congress has diminished the amount of liquid assets
that Banks must retain.
Congress appears to be determined to pay the bills,
with Russian Assets.
Russia disagrees.
The FED now seems to be the Bank with the Cash problem?
They are unable to spread the Play (Fiat) Money around.
There is no support for the Printer.
That seems to get overlooked......
Kids today have Credit Cards.
They do not carry signs about Kids Dying in Nam,
they do not notice Carpathian Kids getting fried .
So the current Administration takes the blame for
Money issues,
but not for any Current Events.
The GAO measures Consumer support,
by including Credit spending in the bottom line.
How is the Consumer Debt supposed to go away?
Is there enough profits to erase Consumer Debt?
How is the Treasury Debt going to go away?
Are the Kyiv Guys going to attack Moscow and take their assets?
Like LBJ viewing that Currency Crisis,
Biden has good reason to appear disoriented?
Why is the USA attacking Russia.
Do we need their resources?
Has BRICS taken the Colonies and created a Trade Union?
Rick has got a serious star fleet vibe going on today
Rick "rules!"
Finally, the Rule is back
David, you are doing great work.
Regardless of this channel (seemingly) being geared primarily torwards gold,silver & crypto, I have to say, I greatly admire David's strides in excellence. For ex: when he asks the listeners for questions prior to the guest arrival, that's not only intelligent, it's another way he is always moving toward supreme. 👏 Bravo
I could listen to him all day
Rick’s comment regarding taxes - he does not look at it from a lense of % of personal wealth paid in taxes - the poor will ALWAYS pay a higher percentage of their personal wealth in taxes. In terms of volume of taxes the poor will pay less because they are POOR and they are caught in the vicious cycle of paying a higher percentage of their wealth in taxes
Rick is simply exceptional
Another amazing episode. Keep grinding them out, you’re an inspiration!
Can't wait to see battle bank.. thanks for everyone's time..
Mr. Rule always makes such a clear effort to speak with precision whenever he opens his mouth… super clear thinking fellow
Thanks Rick! Looking forward to the opening of Battle bank.
I don't think people put less money into social security than they get back if you consider how much that money would be in old age if it was put in Vanguard index funds.
Medicare costs could be lowered by 2/3 without any increase in mortality or illness.
Brilliant interview
Just because 2008 happened doesn't mean it will happen again. The people running the show get more and more clever about preventing major economic disaster.
Rick and David, thank you!
Excellent guest. What a great guy.
🇺🇸We had two banks here locally close this year alone with three major manufacturing companies in our area. Major layoffs of seasoned employees.😫
Thanks for having Rick Rule on. He has sound financial principles. Many are sounding the alarms and we see financial troubles everywhere! Printing your way out of debt is impossible. The economy died in 2008. We have been on life support since then.
Anyone? Where is the best place to buy copper futures or copper mining futures? Tradestation wants a ridiculous margin to hold any metals.
Lower interest rates are inevitable if the economy crashes which is it showing signs of doing, sooner or later it will happen.
You can't disregard the flattening of the economy in China. Inflationary pressures will exist but they will further flatten economic growth.
I don't think so. They are not required to report the sale or purchase of Eagles. Not the same for bars or foreign coins.
This will be worse then anything we ever seen. Unfortunately
FDIC showed everyone will get bailed out now, not just sub $250K. No restraint anywhere in government. Spend and print.
I think there is a common misunderstanding about Capital Gain Taxes in Canada. Currently, half of any capital gain is tax-exempt, while the other half is subject to tax. However, the actual amount of taxes paid depends on the individual's income level.
For example, if you made a $300,000 gain, $150,000 would be tax-free, and the remaining $150,000 would have tax implications. However, if you have room for $100,000 in RRSP investments and haven't earned any other income, your taxable income would be $50,000. In this scenario, your taxes would be around $10,000 to $15,000, depending on deductions. So you made 300,000 and pay 10,000-15,000.
Now, there's a proposal to increase the taxable portion of capital gains beyond 50%. Even if they raise to 100%, it still depends on the person’s income level for the year.
David! Rick Rule is always a great interview. Literally an asset for a financial mind, feeding it with common sense as nutrition. But why is it when he speaks on a subject, I feel like he’s making fun of me? But I end listening feeling wiser?
2008 ??? This coming storm will be much, much worse than 1929 !!!
Why should we keep going in the nuclear reactors direction using uranium seems to be old technology and what would that do to cancer cases?
"People often ask me... How can I Save a million dollars?
First... get a million dollars, then don't spend it. Next thing you know your Saving a million dollars"
Steve Martin
Step 3 - tell the IRS you forgot to pay taxes. Step 1 revised get a million dollars outside of wages.
Great content
Rick Rule the OG