John Rubino – Opportunities For The Brave In Uranium, Oil, Copper, And Gold Resource Stocks

John Rubino, Founder of the Dollar Collapse website and editor of his newsletter over at Substack, joins us for discussion on the macroeconomic forces moving the general markets, commodities, and precious metals in both the near-term and longer-term.


We start off discussing the bifurcated energy markets, where the uranium sector and related stocks have been seeing positive traction higher lately, while oil and nat gas prices and related companies have been trekking lower and have remained under pressure for most of this year.   This leads to a discussion around so many economists and market pundits continuing to expect an economic contraction and eventual recession later this year and heading into early next year, and how that may effect the energy sector.  John mentions that this slowdown in the economy could be a “gut check” moment for commodities investors, and still dampen down important energy metals like copper in the near future, despite the compelling longer term supply/demand fundamentals.


With regards to US equity markets, we are seeing quite a contrasting sentiment and outlook, where there is low volatility and a lack of apparent concerns about a slowing economy. Generalist investors continue to pile into US equities, especially observable, as of late, in the bloated valuations of the mega-cap tech stocks and AI stocks.   This leads to a discussion on how corporate earnings are misaligned with what we are seeing in the market prices and valuations, and could present an added level of risk for a market correction as things progress through this year.


Wrapping up we have John outline the current state of the precious metals markets, how the macroeconomic trends and performance of the general equity markets may present opportunities for the brave during any further corrective periods in gold, silver, or the related PM mining stocks.




    Jun 12, 2023 12:24 PM

    Goldman: This Is A Rally People Don’t Believe In, But Have Finally Given Up Fighting Against

    By Bobby Molavi, Goldman Sachs trader and Managing Director – Monday June 12, 2023

    “Market participants are focusing on some data points (inflation and unemployment) while ignoring others (defaults and slowing China). I’d say the bias has been extremely cautious and we’ve seen that represented through cash levels, the pivot to large cap/quality/defensive/liquid. We’ve also seen that through the lack of gross and close to zero net positioning from the hedge fund community.”

    “As a result, the ‘fat and flat’ range bound market has held. One where investment horizons have seemingly shrunk and positioning and liquidity are more important than they should be and fundamentals seem to be tacking a back seat. On a more bullish note, the last few weeks have seen some green shoots in terms of sentiment and activity. Market expectations of a recession in 2023 are receding…”

    Jun 12, 2023 12:32 PM

    Why Copper Is Now One of the World’s Most In-Demand Metals

    Wall Street Journal – Jun 7, 2023

    “Copper demand has skyrocketed as the push for electrification of vehicles and energy sources continue to take over. The non-precious metal is important in the shift away from fossil fuels as it is critical for EVs, windmills, solar panels and even the entire power grid. So why aren’t more companies starting new copper mines to fuel this boom in demand?”

    “WSJ explains why copper is so important to the global economy – and how a massive shortage is threatening the green-tech transition.”

    Jun 12, 2023 12:13 PM

    Current lead article (Relationship Managers) on all the creative ways for Central Banking and Wall Street to launder money for “organized crime” of one form or another. Appears doing banking that has a fiduciary duty associated with it is not part of the business plan.

    Jun 12, 2023 12:17 PM

    John Rubino is one of the more intelligent people that the KER Report interview. LOL! DT

      Jun 12, 2023 12:30 PM

      Thanks for that feedback DT.

      Yep, John is a sharp guy, and I look forward to our conversations every 2 weeks.

      I’m happy he flagged the more constructive action in the Uranium sector lately, as that has been nice to see in my portfolio and across the resource sector in general.

        Jun 12, 2023 12:38 PM

        For example, I was buying (EU) Encore Energy in late May, and am up over 30% in just the last 2 weeks.

        Not bad action, while one is waiting on the PM sector to wake up.

          Jun 12, 2023 12:49 PM

          URNM has popped nicely recently, and so has UEC of it’s May low.

          As Nick Hodge highlighted, Energy Fuels has been on a steady climb higher since it’s lows in March.

          Steve Penny has been bullish on Uranium the last few months, placing some trades in the space with his subscribers, that have worked out well for solid double-digit gains.

          It’s nice to see a little life in the U-stocks again.

            Jun 12, 2023 12:53 PM

            I expect analysts like John Rubino, Nick Hodge, and Steve Penny to be bullish on the Uranium sector, because they really understand and appreciate the sector’s unique supply/demand fundamentals.

            However, one analyst that really surprised me lately was JC Parets (of All Star Charts) really being constructive on the Uranium sector technically, especially when pressed on it by Kai Hoffman over at Soar Financial. He was fairly constructive on the PMs as well, but is not a generally a commodity bull or even a very big resource stocks guy by any stretch.

            Jun 12, 2023 12:07 PM

            JC Parets – Why Uranium Is His Favorite Trade, plus Newmont Insights

            Soar Financially – Jun 6, 2023 (skip to the 22:58 min mark for the uranium comments)


            Jun 13, 2023 13:17 AM

            Yes. The spot price has been slowly creeping higher. Slow and steady this time. Much better than those fomo pops. Can have that happen after the stealth move higher.

            Jun 13, 2023 13:39 AM

            Agreed Wolfster. I like the slow and steady “stealth” rallies more for moves higher that tend to retain the gains a bit better than the quick pops followed by quick drops.

    Jun 13, 2023 13:23 AM

    Looks like the only thing positive for Gold will be indictments for Central Banking…

    Jun 13, 2023 13:42 AM

    Island reversal this morning on the 15-minute chart of SAND coupled with a long reversal wick yesterday.

    Jun 13, 2023 13:34 AM

    Yesterday I reported the Bid and Ask of SCZ on IB was .345/.36 Cad. The Halted price was 40 Cad. Today, while still being halted, the Bid/Ask on IB is .375/.435 Cad while the OTC still around .19/.21 US. IB has also been showing a “daily loss” for SCZ in my account of between $400 – $600, even though it disappears at EOD and only returns the next day with no daily change in the .40 Cad halted price. Today that “daily loss” does not appear. At least we are making progress but I don’t know why.

      Jun 13, 2023 13:47 AM

      Still halted in the great white north…

      Jun 13, 2023 13:49 AM

      There is a chance that SCZ will have to redo the statements if there is any mistakes, that would not help at all.

        Jun 13, 2023 13:06 AM

        According to a spokesperson for the Company that somebody else talked to (hearsay), they have had some difficulty in piecing together Glencore Data as Glencore evidently didn’t think it was important to maintain great records on the Bolivian properties as it was a small portion of their overall operations in the scheme of things. That is not to say Santacruz didn’t get the data available correct, but rather it has been a PITA for their accounting people. The bigger issue may be that Regulators hit so many with failure to file notices that things are backed up. (To me that doesn’t explain the differences between Canada and the US in handling the Halt or reflecting current bid/ask or sales, etc. When it is a Cad company, the US considers the Cad price as Primary and normally does an EOD adjustment. I just question the OTC apparently going rogue with the Halt. More academic than anything).

          Jun 13, 2023 13:43 AM

          Lakedweller2, yes I commented to that effect a few days back, that the Bolivian projects Santacruz acquired from Glencore were considered “non material” to a company of that size so they never filed or disclosed anything on them, which created a lot of work for SCZ to do playing catchup on all the filings since they had to take into account all the prior activity and info and get it up to date. Moving forward that won’t be an issue, but it’s just an example of growing pains at this point in time. It’s nothing nefarious from the Santacruz filings, just a lot of work to get all the paperwork current on the Bolivian assets.

            Jun 13, 2023 13:10 AM

            I anticipate more issues with the filings since they are complicated and forensically done.

            Jun 13, 2023 13:54 AM

            Yep, me too. They need to legally get the filings correct, and there has to be a huge attention to detail, so the company has to “slow down before it can speed up” as the saying goes.

            It’s kind of similar to what Gatos Silver has been going through the last few quarters trying to get all their restatements and filings up to speed, but lawyers and the qualified people for reviewing everything are slow and methodical by nature and they are paranoid about making a mistake, so they are crossing every “T” and dotting every “i” at a snails pace.

            Again, these PM markets haven’t been very exciting the last 2 months, and most companies have continued to correct, so I’m not in any rush to see SCZ get unhalted at this point. It would be preferable to get the filings caught up, give investors a chance to digest everything, and then unhalt into a better metals price and sentiment environment.

    Jun 13, 2023 13:56 AM

    Lights out here as the so called sheeple are enjoying new highs for the year on general markets, suspect they may likely book some profits soon. That will revitalize doomsday talk by those in the know again.

      Jun 13, 2023 13:24 PM

      Sheeple don’t “book profits” they buy high then they buy higher while congratulating themselves. Then when things fall apart they act just like you and lash out at anyone who happens to be near them. They see themselves as geniuses on the way up but it’s always someone else’s fault on the way down. In short they are forever reactive because they are too clueless to be proactive with any confidence. What certainty they do have comes from their kind, the semiconscious mob which is why they are ultimately wrong about everything.

        Jun 14, 2023 14:58 PM

        Sounds like your strategy, except in reverse, pick a losing sector and keep buy the lows. What happened with the predicted underperformance of spx vs virtually everything else. Pitiful
        Oh I suspect the sheeple will jump ship at the first sign of trouble.

        Meanwhile gold holding water and majority of the penny arcade continuing a losing grind, but there has to be a pony in all that gung.

          Jun 14, 2023 14:38 PM

          Of course you “suspect the sheeple will jump ship at the first sign of trouble” lol. Never mind that it would be the first time in history unless the “trouble” wasn’t real. 🤪🤡

    Jun 13, 2023 13:35 AM

    AAZ, Azincourt. I bought 50k more stock at 0.04 today and the volumes didn’t change, soon after someone sold 4k shares and the price went down to 0.035. IMHO the brokerage sold those 4k shares at 0.035 to drop the price to get others to sell at 0.035 to fill my order at 0.04, an effective short of a penny stock that shouldn’t be able to be shorted equals a crime!

      Jun 13, 2023 13:43 AM

      I have called the venture exchange and will not let this go…

        Jun 13, 2023 13:06 AM

        Apparently there are 14 ATSs (Alternative Trading Systems) in Canada, I use the Royal Bank Brokerage and it does not show a consolidated volume of bid/ask and trading volumes of all ATSs. The TSX.v said it is an issue for retail investors but not pros with better platforms. Many platforms have this issue especially the free ones. Time to upgrade… $$$$… or quit trading!:-)

          Jun 13, 2023 13:20 AM

          … The ATS info was from a call I made with the IIROC (Investor Industry Regulatory Organization of Canada)

          The venture exchange is not guilty of that… just everything else, haha. This is a setup for failure on the unknowing retail fools.

    Jun 13, 2023 13:44 PM

    It’s like all my Juniors already had a price determined for the close, when the markets opened.