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Speaking of following something -- we followed very closely on this show and is on track right now for the worst quarter ever.
Joining us -- sprout global resource investment founder and chairman.
Rick -- Rick.
I don't think anyone saw the gold falling apart to disagree this past.
It's made intraday reversal to the upside is now the time for people to start looking at it.
Yes I suspect it is I think what we're into now is capitulation selling this is in fact the fourth time in my career.
But I seen a market like this with regards to -- it really depends I think on somebody's interest from my point of view.
Gold is social and political risk insurance but it's insurance that doesn't involve a promise to -- from an insurance company.
So for me personally because I think the political risk insurance is something good to have in your portfolio.
The fact that gold is cheap is good because I'm not thinking about holding it for a week or two -- right thinking about holding -- over time.
Now Rick when I hear you say that I think it's interesting because I think one of the major mistakes at the gold industry is made.
It's selling it as a doom and gloom asset.
-- it's been an amazing store of value you know two years ago in India they found its vault.
And there was about 25 billion dollars worth of gold they're now back in the day if they would have put in an equal amount of money in other words -- you know.
At the time.
It's been all papers that were critical -- -- might have sold a -- -- -- the bottom line is goals with a store of value.
How come in this resells it as the doom and gloom asset instead of and it may think store value.
Well I think that's a wonderful question -- -- into the studio today passed a motel six.
Named that because when I was younger room they're sold for six dollars.
The sunset motel 669.
Dollars I don't suspect that that room has eleven times more utility that wanted that that in my youth.
The point is that as you say gold has historically been.
A store of value over time.
All right well record today what -- brave man but we love it that's what we want to hear you can't -- you said OK take a stand.
Buy gold now we'll be back got to believe me we're gonna come Baghdad to right or wrong we'll get this out of this against the isn't.
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