John Rubino – Ongoing BRICS Initiatives, Continued Interest Rate Pressures, And The Bright Spot In The Energy Sector With Oil And Uranium Stocks

John Rubino, publisher of his newsletter over at Substack, joins us for wide-ranging discussion on a number of topics including BRICS nations initiatives, the effects of higher interest rates, and the energy sector being one of the bright spots lately in otherwise tough market conditions.


We start off reviewing the BRICS nations meetings and the changing global trade and currency implications out of these evolving national alliances. It is still quite unclear if we will see any more news teased or released about the potential of gold-backed or commodity backed currency, from the BRICS meeting this week; but it will at least provide clarity on some of the larger initiatives for this large trading block. One area of the markets that could be impacted most is the commodities, and in particular the energy sector.   All of this also ties into the future health of the global economy, and expectations around both monetary and fiscal policies the continued pressure of higher interest rates for longer on various sectors, and the potential still there for an economic contraction in western developed nations.   


With ongoing constructive macro themes in both the oil markets and nuclear energy and uranium markets,  we have John share what qualities he looks for when investing in energy stocks. He has been cautiously acquiring the larger cap, more liquid, best quality names, which he believes have management teams that are executing on building quality projects and quality companies.  By focusing on the best-in-breed quality companies, he feels they will survive and bounce back, regardless of if we see a sector-wide correction in a “sell-everything” type of broad market correction or crash in the future.  He highlights Occidental Petroleum (OXY), Cameco (CCO) (CCJ), and Nexgen Energy (NXE), as examples of the types of companies he’s built positions in.




    Aug 21, 2023 21:26 PM

    Thanks for the Brics update. Many opinions about whether they announce a new version of a currency. Maybe we shouldn’t assume they will. They have already bern trading by alternative methods outside the Reserve Currency/Petro Dollar in order to break away from US Dollar Hegemony. Why act like you need anyone’s approval to break away from a suppressive system run by corrupt private organizations. Just do it and deny participation to those that are self interested and unfair.
    We will see, but the US is in no position to prevent anything without imploding. The US elected corruption and now must pay the price of its transgressions. Too bad “We The People” must pay for the acts of a few that do not represent the tax payers or the Republic. Simultaneously, the autocrats are crawling out of the wood work in hopes of getting elected to a “free loading” political position with the expectation they are immune from prosecution like those that have gone before.

      Aug 21, 2023 21:52 PM

      Yeah, nobody knows if/when the BRICS will formally announce something like a gold-backed currency (and it is seeming unlikely at their meeting this week as there is nothing like that slated for the agenda). Additionally, some of the key heads of state won’t even be there in person… just people from their cabinets, so if they were going to make an announcement that big one would expect to see all hands on deck.

      As you mentioned above, at this point they have done well just evading the petrodollar by coming up with ways to trade with one another in their own local currencies or in exchange for commodities. However, if their central banks have been buying gold as one of the means to an end to eventually backstop a shared hard-money currency, then while it may be a long process to roll it out, that would be a game changer for the planetary order.

      Even if that isn’t something we are going to see for a long time, as John R. pointed out in the interview… it was at least a positive in that it got the conversation amped up about fiat currencies versus a sound money gold-backed currency, and that, in an of itself, is a net positive for the PM sector and for humanity at large.

    Aug 21, 2023 21:57 PM

    The global bond sell-off continues to gain momentum, driving yields higher…and gold lower.

    Golden Opportunities – August 21, 2023

    Aug 21, 2023 21:03 PM

    John Feneck Consulting: BRICS, Stocks, Gold, Silver, Copper, Nickel

    Rich TV Live – Bull & Bear Show #13 – Aug 19, 2023

    1:38 BRICS
    3:43 BRICS impact on US Dollar
    4:04 Looking at data for direction
    4:35 Gold over 1900/oz for months
    5:08 Financials
    5:22 We are seeing a lot of “firsts”
    5:57 S&P 500 backing off a bit
    8:51 AAPL & TSLA
    9:32 What large fund managers are coping with and how it can impact you
    10:55 PFE
    11:34 Retail
    12:23 Balance of risk and reward
    12:40 FDCFF going from .0450 to .0670 and Uranium
    15:31 AGXPF at .149
    17:29 Regarding the CEO interview of AGXPF
    17:54 Jackson Hole Aug 24-26 – “respect it”
    21:00 NEM
    22:35 S&P failed in August
    23:36 S&P support levels
    31:21 ECRFF at .055 has around 2.5mil oz gold and just announced that may only represent 25% of their land package
    33:47 Barrick (GOLD)
    34:58 PAAS
    35:33 SVM
    36:59 Silver (SLV)
    39:01 Copper (CPER)
    39:42 WCUFF at .0960 is at a 3+yr low with 2 advanced copper projects
    41:21 COPX
    42:33 TLOFF
    42:55 PGEZF has gone from .1270 before Glencore deal 6/23 to hit .173 and is now back to .1201
    43:38 RMLFF – Rich’s recommendation
    46:21 Small/microcap price action is wild
    47:00 Vortex Metals (VMSSF, copper/gold junior) printed at .0469 last week, yet there are larger buyers at .0700
    49:24 How I started
    50:27 Why I called out asset manager Direxion regarding JNUG and NUGT

    Aug 21, 2023 21:16 PM

    We spent some time with John Rubino today covering the Oil and Uranium markets in the energy sector. He pointed out the recent strength seen in Cameco, but and after the recorded call, I pointed out that there have been lots of other U-stocks moving higher over the last few months. That has been a nice counterbalance in my portfolio to the Gold and Silver stocks sinking again the last few months, and another reason I’m a fan of a diversified portfolio across multiple commodities and multiple stages of the mining cycle within each commodity.

    It was nice to see some more green on the screen today in the Uranium stocks once again….


    Stock Ticker – Uranium Stocks – Daily Percentage Gain

    RDM.AX Red Metal Limited +23.53%
    AEC.V Anfield Energy Inc. +22.22%
    STND.V Standard Uranium Ltd. +16.67%
    PTU.V Purepoint Uranium Group Inc. +14.29%
    CVV.V CanAlaska Uranium Ltd. +12.50%
    LAM.TO Laramide Resources Ltd. +10.64%
    MGA.TO Mega Uranium Ltd. +10.00%
    92E.AX 92 Energy Limited +10.00%
    CUR.V Consolidated Uranium Inc. +9.59%
    FIND.V Baselode Energy Corp. +9.30%
    UROY Uranium Royalty Corp. +8.84%
    FUU.V F3 Uranium Corp. +8.57%
    ISO.V IsoEnergy Ltd. +8.39%
    AGE.AX Alligator Energy Limited +7.89%
    BSK.V Blue Sky Uranium Corp. +7.69%
    UUUU Energy Fuels Inc. +7.69%
    BMN.AX Bannerman Energy Ltd +7.69%
    WUC.CN Western Uranium & Vanadium Corp. +7.29%
    DYL.AX Deep Yellow Limited +6.78%
    BOE.AX Boss Energy Limited +6.10%
    NXE.TO NexGen Energy Ltd. +6.07%
    URG Ur-Energy Inc. +5.98%
    UEC Uranium Energy Corp. +5.97%
    URNJ Sprott Junior Uranium Miners ETF +5.89%
    FMC. Forum Energy Metals Corp. +5.88%
    FCU.TO Fission Uranium Corp. +5.56%
    SYH.V Skyharbour Resources Ltd. +5.56%
    MKA.V Mkango Resources Ltd. +5.00%
    LEU Centrus Energy Corp. +4.90%
    ERA.AX Energy Resources of Australia Ltd +4.88%
    GCL.L Geiger Counter Limited +4.70%
    PEN.AX Peninsula Energy Limited +4.55%
    GXU.V GoviEx Uranium Inc. +4.55%
    UUSA.CN Kraken Energy Corp. +4.55%
    DNN Denison Mines Corp. +4.38%
    URNM Sprott Uranium Miners ETF +4.24%
    AEE.AX Aura Energy Limited +4.17%
    EU.V enCore Energy Corp. +4.06%
    CCJ Cameco Corporation +3.98%
    ACB.AX A-Cap Energy Limited +3.51%
    URA Global X Uranium ETF +3.35%
    YCA.L Yellow Cake plc +3.08%
    NLR VanEck Uranium+Nuclear Energy ETF +2.59%
    GLO.TO Global Atomic Corporation +1.45%
    PWM.V Power Metals Corp. +1.30%
    U-UN.TO Sprott Physical Uranium Trust Fund +1.03%

    Aug 22, 2023 22:45 AM
    NatGas : Bottom or Bust?
    Turnaround Tuesday!

    Aug 22, 2023 22:09 AM

    Exzellent information and details to the BRICS- currency.

    Aug 22, 2023 22:02 AM
    Aug 22, 2023 22:57 AM

    Drama leading up to Jackson Hole. …. Kind of like the old days when the Circus comes to town.

    Aug 22, 2023 22:13 AM

    BRICS…this guy believes it is a scam…done

      Aug 22, 2023 22:08 PM

      Larry – Thanks for sharing that article, as it raised a number of interesting points. The Deeper Dive author highlighted a number of reasons why the BRICS nations would struggle to maintain cohesion based on different cultures and their own monetary and fiscal problems. It is reminiscent of the wobbling and challenged European Union experiment.

      Some of the other unraveling going on in China and Russia in particular, makes it difficult to imagine them coming out any time soon with a concrete combined strategy. We’ll see how things develop though, as they are meeting regularly and continuing to develop future plans together.

        Aug 22, 2023 22:42 PM

        thanks Ex….From a practical thinking viewpoint…I tend to agree that countries much more corrupt and shady than USA could/would come together to create an alternative and stable transaction medium is a bit out there…..

        They should but however they probably cannot pull that off….. as you mention the EU currency failure among more co-operative nation gangs….trust remains at a low mark on our planet circa 2023…..sad really…glta

          Aug 22, 2023 22:56 PM

          Hey Larry, do you think Tucker will ask Trump any of the following questions? Me neither…

          Aug 23, 2023 23:04 AM


          Name two countries that are shadier and more corrupt than the USA. DT

            Aug 23, 2023 23:28 AM

            DT, what Western countries are any better?
            The fact is, the most powerful negative influences on the U.S. and the West in general come from lands far outside of the U.S.. Don’t confuse the puppets with the puppet masters.
            Trudeau sure has been a menace to your Canada and his strings are clearly not being pulled by Canadian voters.

      Aug 22, 2023 22:23 PM

      Here is another option. Goldfinger interviewed William Middlekoop about the Brics and It was originally on twitter. He has moved it to youtube, so that interview could be down loaded on kereport. It is almost an hour long. I have only been able to listen to about 7 minutes of it so far, but seems like it is pretty good so far. I think I ran across it on the aston bay site, but I would think goldfinger would have it also.

    Aug 22, 2023 22:22 AM

    Maybe we need an interview of Alasdaire MaCleod, or Andy Maguire or Matthew Peipenberg or some other person that works outside the US System. US has no credibility at the moment in things dealing with Banking much less what the Brics are doing.

    Aug 22, 2023 22:43 PM

    UPS drivers will average $170,000 in pay and benefits…

      Aug 22, 2023 22:40 PM

      UPS must be pretty confident they will not be needing those high paid workers much longer and will replace them with cheaper options.

    Aug 22, 2023 22:50 PM

    Little known Facts:
    One Roll of Great Value Toilet Paper @ Walmart: $1

    One share of Santacruz Silver: $ .17

      Aug 23, 2023 23:49 AM

      One of the great statements of all time…thank you Lakedweller2… is crazy….an article on zerohedge about de-dollarization among brics….dollar up big….sad……flee to your last addiction….people will eventually flee to any alternative currency out of usd..

      Aug 23, 2023 23:02 PM

      (SCZ) Santacruz Silver was up over 11% on the day, and was also up yesterday, so now one share is $0.25 versus $0.17 just a few days ago. I mentioned adding more on the August 17th at around $0.185, and that stake is up 35% just a week later. Not too bad of return for those with the courage to buy when valuations get silly.

      Clearly it’s gaining ground on the key Toilet Paper commodity sector today. 😉

    Aug 23, 2023 23:20 AM

    After the sheizer hits the fan, a share of Santacruz should buy an upgrade to Charmin toilet paper

    Aug 23, 2023 23:09 AM

    Silver is looking good against the stock market.
    SLV vs QQQ:

    Aug 23, 2023 23:33 AM

    /GC day december…..A 2 consecutive day close above the OUL at 1934.7 should confirm a daily cycle low….and we await the weekly chart to confirm w 1950.6 close above its 9ema….That would give more solid credence to this moves validity…glta

    Aug 23, 2023 23:21 AM

    JIM R…seems pretty sure about BRICS going sound currency….

      Aug 23, 2023 23:39 AM

      Even Putin gave a (electronic) speech saying that a primary objective of Brics membership was getting away from the dollar. I don’t think we need to know the mechanics of it to recognize it was announced.

    Aug 23, 2023 23:32 AM

    At my lowest cash position since Dec 2015 since my buys of HL – THIS WEEK @ $4.16, $4.03.

    Aug 23, 2023 23:42 AM

    I keep hearing about the ‘excess savings’ that everyone has… I would like to take my excess savings and shove them down Powell’s throat, since it will all be pocket change it will make a neat tinkling sound the next time he takes a dump… sorry for the graphic.

      Aug 23, 2023 23:30 AM

      The world is run by Orwellian clowns. The entirety of the problem is that everyone has virtually no savings or worse. Credit card debt is through the roof and it’s kinda hard for debt-slave voters to tell the crackpots in power what to do.

      Aug 23, 2023 23:33 AM

      Transfer of Wealth agenda does not consider personal savings by the general population a reasonable goal. They most likely consider it a miscalculation.

      Aug 23, 2023 23:02 PM

      SLV:GLD precisely hit resistance today (chart above).

    Aug 23, 2023 23:37 AM
      Aug 23, 2023 23:58 AM

      Yes, silver stocks doing well today, which is highly unusual. To counter balance those, base metals down in my account, keeping the daily “red” in place.

      Aug 23, 2023 23:06 PM

      SLV:DIA (above) finished the day at speed line resistance.

    Aug 23, 2023 23:12 AM
      Aug 23, 2023 23:19 AM

      Nice gap up. Must be a reason.

    Aug 23, 2023 23:14 AM
    Aug 23, 2023 23:52 PM

    Xi and Putin are seeking to expand the alliance of BRICS nations to challenge the global dominance of the US and the dollar

    Tom Porter • Business Insider – 08/23/2023

    – China’s Xi Jinping is in South Africa this week for the BRICS summit.
    – China and Russia want to expand the group and challenge the West.
    – Putin recently touted de-dollarization and renewed calls to use of local currencies for trade.

    “At this week’s BRICS summit in Johannesburg, South Africa, the future of the world’s leading non-Western economies is at stake. Russia and China are seeking to remake the alliance, which promotes economic cooperation between members, into a power bloc to challenge the dominance of the US and the dollar.”

    Addressing the BRICS summit by video link Tuesday, Russian President Vladimir Putin took swipes at the West, and said the summit represented the “global majority.”