Hey, welcome to Current Eel. This is Jim Grant on behalf of the entire Grant's interest rate is the word no. Team.

Team. With me today, as always, Eric Whitehead is a control panel and the great Evan Lorenz deputy editor of grants, Phil Grant, who runs our almost daily grants operation.

And Rick Rule is with us.

Rick is basically in charge of the gold price.

He is Senior Managing Director of Sprott, Inc., and president and CEO of Sprott U.S.

Holdings and chief investment officer of Sprott Resource Holdings.

And Rick, what fun it is to have you on the air.

Because as we talked, chatted about before

you came on the air, we want, we want some answers. So welcome. A pleasure. I'm a big fan of

grants. So thank you for having me on. Oh, it is a delight. You know, I don't know about you,

but the last 11 years or so have been rather tedious with respect to precious metal investments.

That wasn't our fault, was it, the Bulls?

Probably not.

I think tedious is an interesting word.

I found it fairly interesting if terrifying.

Right.

I would prefer tedium, Jim. Well, this is, Rick, this is the theme of this podcast is one of understatement.

I'm going to set the tone right now with the following.

This was a quotation from Lord Liverpool, about 18-teen.

This is concerning the nature of the credit cycle.

The Austrians had this thought about 100 years later, but they didn't express it in English.

Now, here is Lord Liverpool.

...