Recorded on May 12 2026
Rick Rule joins Andy Millette to discuss inflation, the US dollar, gold, savings discipline, Battle Bank, small business survival, The Sovereign Individual, state migration, and natural resource investing. Rick argues that Americans were conditioned by 40 unusually benign economic years and are now underestimating the compounding effect of inflation, debt, unfunded promises, and currency volatility. He explains why he measures expenses and purchasing power in gold terms, why he believes saving only in US dollars ignores global alternatives, and why physical gold remains central to his personal savings framework. The interview also covers the Rule Symposium, oil and gas, precious metals equities, high quality gold companies, and why Rick believes many investors remain underallocated to hard assets. #Millettian
Key topics
00:00 Rick Rule warns inflation can ambush America
00:48 Interview begins with Andy Millette and Rick Rule
01:54 What is really going on in the economy
03:09 CPI, food, fuel, taxes, and real inflation
05:34 Inflation and the 1970s ambush lesson
06:15 Why Rick says savers must diversify
07:40 The 75 percent dollar decline idea
09:50 Banking discipline and bad lending
12:05 Federal debt and unfunded promises
14:45 Honest default versus dishonest default
15:55 What inflation means for small businesses
18:04 Wealth as surplus utility created
23:59 Advice for young people and Andy’s kids
27:58 The Sovereign Individual and personal sovereignty
33:12 Philanthropy and private accountability
38:35 State migration and high tax jurisdictions
41:45 Rule Symposium and natural resource investing
47:03 Natural resource sector outlook
48:38 Precious metals underallocation
50:56 Why physical gold belongs in savings
55:10 Closing thoughts
Guest links
Rick Rule Luma Conference
https://lumaconference.com/
Rule Investment Media
https://ruleinvestmentmedia.com/
Rule Classroom
https://ruleclassroom.com/
Battle Bank
https://battlebank.com/
Host Andy Millette Natural Resource Stocks
Website https://www.NaturalResourceStocks.net
YouTube Main https://www.youtube.com/@naturalresourcestocks
YouTube Clips https://www.youtube.com/@NaturalResoureStocksClips
X https://x.com/theandymillette
LinkedIn https://www.linkedin.com/in/andymillette/
Natural Resource Stocks LinkedIn https://www.linkedin.com/company/naturalresourcestocks-net/
Natural Resource Stocks Facebook https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
Natural Resource Stocks TikTok https://www.tiktok.com/@natural.resource.stocks
Natural Resource Stocks Instagram https://www.instagram.com/naturalresourcestocks/
The content provided by Galt Consulting Group, doing business as NaturalResourceStocks.net, including but not limited to interviews, articles, podcasts, and other digital media, is for informational purposes only. We reserve the right to buy and sell shares of any company mentioned in these communications, including sponsors of the NaturalResourceStocks.net platform.
If Galt Consulting Group or any affiliated parties are invested in a company mentioned in our content, we will publicly disclose such investments on all digital platforms, including but not limited to the NaturalResourceStocks YouTube channel, Apple Podcasts, and Spotify. This disclosure will include clear statements indicating whether or not we hold shares in the companies discussed.
Nothing in our content constitutes financial advice. Every investor is responsible for conducting their own due diligence and should seek the advice of a qualified financial professional before making any investment decisions. Past performance is not indicative of future results, and investments in the stock market can result in the loss of principal.
By engaging with our content, you acknowledge that you are fully responsible for your investment decisions and agree to hold Galt Consulting Group, NaturalResourceStocks.net, and its affiliates harmless for any financial losses incurred.
