Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, speaks with legendary investor and speculator Rick Rule at the 2026 Rule Symposium in Boca Raton.

Rule explains why silver plunged from roughly $120 to $60, why he believes the decline was driven almost entirely by sentiment, and why the silver deficit may actually be getting worse. He reveals why he sold 80% of his physical silver after the market went parabolic, which silver equities he is buying now, and how banks can manipulate silver prices in the short term.

Rule also lays out his long-term outlook for $15,000 gold, $300 silver, and a structural oil shortage that he says cannot be solved by a ceasefire.

In this episode of The Real Story with Michelle Makori:

- Why silver fell 50% despite strong supply-and-demand fundamentals

- Why Rick Rule sold 80% of his physical silver and moved into silver equities

- How short-term silver manipulation actually works in physical and futures markets

- Why Rick believes silver’s supply deficit is getting worse

- His long-term outlook for $15,000 gold and $300 silver

- Why structural underinvestment could trigger the next major oil shortage

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Disclaimer: The views and opinions expressed in this video are those of the individual speakers and do not necessarily reflect the views of Miles Franklin Precious Metals, its affiliates, owners, anchors, producers or hosts. This content is provided for informational and educational purposes only and is not intended as financial, legal, or investment advice. Nothing said in this video should be construed as a recommendation to buy or sell any financial asset. You should always consult with a qualified financial advisor, legal professional, or tax expert before making any investment decisions. Investing involves risk, including the potential loss of principal.

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The Truth About Silver’s Collapse, According to Rick Rule

The Real Story with Michelle Makori

The Truth About Silver’s Collapse, According to Rick Rule