Private Briefing with Rick Rule: Critical Minerals and a Real Assets Super Cycle
Friday, August 29th, 2025
Laramie, Wyoming
By Dan Denning
Greetings from the High Plains for Laramie. Yesterday I sat down with my old friend Rick Rule to talk about ‘critical minerals.’ This was prompted by the decision of the US Geological Service this week to reclassify seven minerals as ‘critical’ to the US economy and national security (silver, potash, and copper were the ones that jumped out to me).
Given what Rick said about the gold price (and how high it could go from here), the conversation turned out to be timely (the continuous gold closed over $3,500/oz today). It was a long briefing, for obvious reasons. And we didn’t hold back taking a deep dive into what it’s going to take money investing alongside the US government with this new big policy shift to support some minerals and industries.
I’ll have the transcript for you this weekend. Sorry I couldn’t get it ready sooner. But given the price action in the precious metals market, I thought it was better to send this to you now. Look for the transcript this weekend.
Dan
P.S. The chart I referenced early in the conversation is the one below. It’s the ratio between the S&P 500 and CRB Commodity Index. My question to Rick was whether he believed in the thesis that another commodity ‘super cycle’ was imminent and if so, will it be driven by supply/demand dynamics or inflation. And finally, whether energy, agriculture, base metals, or precious metals would be the best way to ‘play’ it.
A literal treasure trove of wisdom. Dan, we’ll done and your question to Mr. Rule concerning the 2025 Rule Symposium initiated a most insightful discussion concerning resources at the city, county and state level. I’ll be a repeat listener. Warm Regards, John Downing
What if a multi generational run up in equity assets precedes a bust in the next few months, then Gold drops to 2020 levels in a bust, before it takes off in a commodity super cycle. You would be depriving your readers of great wealth, and a chance to purchase Gold at much lower prices......