John Rubino: We Have No Solutions Except a Choice of Crises

Tom welcomes back John Rubino, former Wall Street analyst, author and Substacker https://rubino.substack.com for a discussion on the gold mining industry's recent trends during the third quarter earnings reports. Despite the increase in gold prices, mining stocks have underperformed due to factors like rising costs and geopolitical risks. However, strong earning reports from top companies are attracting momentum investors, potentially triggering a bull market for precious metals. John emphasizes the importance of investing psychology and buying undervalued assets during bear markets. He also discusses the cyclicality of mining sector, potential acquisitions following strong earnings, and the significance of both fundamental setups and technical indicators when considering gold and silver investments. Additionally, Russia's decision to buy silver for its strategic reserve fund is affecting the silver market by tightening supply and increasing upward pressure on prices. Despite economic uncertainties, investors are encouraged to seek opportunities in this environment.

Time Stamp References:
0:00 - Introduction
0:43 - Miners & Earnings
4:56 - Underperformance?
7:09 - Numerous Good Sectors
11:03 - Peaky Bubbles
15:28 - Miners, Cycles, & M&A
21:14 - Miner Behaviors & Results
27:56 - Buyouts & Shareholders
30:12 - Technicals/Fundamentals
36:42 - Wage Price Spiral
41:58 - Russia Buying Silver
43:51 - Wrap Up

Talking Points From This Episode
- Mining stocks underperformed despite gold price increase due to rising costs and geopolitical risks.
- Strong earnings reports from top companies attract momentum investors, potentially sparking precious metals bull market.
- Invest in undervalued assets during bear markets for long-term gains; consider both fundamentals and technicals.

Guest Links
Substack: https://rubino.substack.com
Books: https://tinyurl.com/5buyvy6v

John Rubino is a former Wall Street financial analyst and author or co-author of five books, including The Money Bubble: What To Do Before It Pops. He founded the popular financial website DollarCollapse.com in 2004 and sold it in 2022, and now publishes on Substack.