On the heels of more discussion about additional money printing by Japan, today one of the wealthiest and most street-smart pros in the business spoke with King World News about the reality of what is really taking place in key markets. Here is what Rick Rule, who is the CEO of Sprott USA, had to say: “We see strength in this market. The underlying commodities are fairly strong. I hope KWN readers have noticed that in the really, really depressed days of November and December, we spoke on King World News about the fact that after tax loss selling, the junior equity market was going to bounce back simply because the tax loss selling was abated.”
Rick Rule continues…
“That’s exactly what’s occurred. But you are seeing underlying strength in the commodity prices as well. International crude markets are very strong. North American crude markets, even in the central part of the country, are stronger than one might have expected given the weak economic conditions.
We have also seen strengthening precious metals prices, especially platinum and palladium prices….