'Absolutely' More Bank Failures Coming; Will This Be Worse Than 2008? | Rick Rule
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- Опубліковано 6 чер 2024
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Rick Rule, Founder of Rule Media, discusses how this banking crisis will likely unfold, and what's next for the economy and markets.
*This video was recorded on May 1, 2024
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*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 - Intro
1:30 - Bank failures
16:40 - Commodities cycle
20:55 - Uranium and nuclear power
22:50 - Gold
26:00 - U.S. dollar
26:48 - Canada's new budget
31:45 - Population trends
35:15 - Fed and inflation
39:45 - $9,000 gold
41:46 - Rick's career advice
#economy #investing #bankfailure
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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
UA-cam: 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..
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
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.
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.
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.
Rick Rule such legend
Got yr savings in that bank have you?
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
This was my favorite interview so far!! What a great guy!!
Rick is so well spoken!
Thank you both for this awesome interview, it’s a pleasure to learn from Mr Rick Rule!
always fun to hear from Rick, as entertaining as informative, go battle bank! what a great name
Giving social benefits to people who have never paid into the system is the reason for its failure.
Great interview David!
Salam Mr. David
Love and respect from Iraq
😀💯❤🤍✌
As Rick said, you are always so very well prepared for all your interviews. Great work David 👏🏻
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.
They won’t be bailed out. Per the Dodd-Frank Act of 2010, they’ll be bailed in.
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.
Your guest tonight was amazing. He talked me into swapping some crypto for gold. I loved his interview
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.
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!
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.
Time well spent thank you both
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 !
What a GREAT interview...thank you David and Rick...
"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.
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...
David, what you do is amazing. Can’t get enough of it.
Great interview, I love listening to Rick Rule he speaks sense which seems to be lacking in recent times 👍
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.
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?
A guest that is a realist and has a very keen sense of what’s what’s.
One of the best interviews I’ve seen in a while. Great work by both David and Rick.
Always good to hear from Mr. Rule. Thank you.
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.
Good interview David; questions were on point.
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
Rick "rules!"
Can’t figure out which one of your videos is better haha. Keep up the good work!
What an intro, well deserved. Great job, David.
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
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.
Great interview. Thanks!
We are all getting serviced Rick just without LUBE
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?
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.
The United States alone has over 4,000 different banks and lending institutions. More than all G20 countries combined.
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..."
The Three Ricks: Rule, Ross and Rubin
Great content
I love your show, David.
David Lin, you're the Larry King of our times. Keep up the good work, sir. 👍
Another amazing episode. Keep grinding them out, you’re an inspiration!
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading.
Please educate me, i'm willing to make consultations to improve my situation,
Yeah, I used the FIRE movement to put my finances in order. Then, I invested in stock, cryptocurrency, and real estate, though the assistance of my discretionary fund manager, dullpher, who helped me make it big...
Please how do I find this financial counselor?
I'd love to know this mentor of yours
Excellent discussion!
Loved this interview … 🙏
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
You can tell Rick really does enjoy what he does
Brilliant interview
Rick and David, thank you!
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.
Excellent! Thank you!
Love your work David and your relationship with the guests. Big fan of Rick and great interview thank you, we are very lucky to have people like you putting in the huge effort to bring us work and guests like this , cheers.
What a great interview! thank you :)
Thanks Rick! Looking forward to the opening of Battle bank.
I can't wait for Battle Bank. I wish Rick and his team the best.
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
Great interview.
He is so wise knowledgeable. Thanks#
Great guest. Great interview David!
Rick has got a serious star fleet vibe going on today
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.
Thanks!
Every podcast should be required to publish the date of the recording.
Rick is the best
This guy is super interesting and a great interview
This guy is the real deal. No bad talk about digital assets. Very honest. Great guest.
Mr. Rule always makes such a clear effort to speak with precision whenever he opens his mouth… super clear thinking fellow
Lin+Rule=Competence
Rick Rule is a G
Never get tired of listening to Nick.
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.
Anyone? Where is the best place to buy copper futures or copper mining futures? Tradestation wants a ridiculous margin to hold any metals.
DL keep it up baby!
Finally, the Rule is back
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?
Need time stamp
Can't wait to see battle bank.. thanks for everyone's time..
🇺🇸We had two banks here locally close this year alone with three major manufacturing companies in our area. Major layoffs of seasoned employees.😫
Good content
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 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, you are doing great work.
Rich Rule Rules!
This will be worse then anything we ever seen. Unfortunately
Top guest. Brilliant and balanced mind
Rick Rule rules 👏
Rick is simply exceptional