Hidden Forces

In Episode 150 of Hidden Forces, Demetri Kofinas speaks with Rick Rule, President & CEO of Sprott US Holdings and Senior Managing Director of Sprott Inc. a global, alternative asset manager focused on precious metals and real assets with approximately 12 billion dollars in assets under management. After spending most of the last decade in a period of prolonged underperformance, gold has spent the last two years on a tear, up 67% since September 2018. This episode is meant to introduce Hidden Forces listeners to gold, precious metals, and the larger natural resource industry. We discuss gold’s physical qualities as a commodity that needs to be prospected, mined, extracted, refined, and stored, as well as its investment profile in the form of bullion, equities, and derivative products like futures, options, and ETFs. We also spend time in the regular episode discussing gold in philosophical terms. What is gold? What is it that gives gold its value? Is gold a hedge against inflation? Is it insurance, and if