Doug Casey: Gold is Going Higher, We are in Another Bull Market
Doug has always been self-directed and self-educated and would look for entrepreneurial things to do even when as a child. That is when he became interested in paleontology which led him into rocks, minerals and eventually mining.
Doug likes to look for the general market trend and remains not only a gold bug but today a gold bull. He feels there is a lot of upsides since all of the currencies of the world are just floating abstractions issued by bankrupt governments for political purposes.
Mr. Casey began playing with resource stocks back in the 1970s and points out that they are the most volatile stocks in the world. They will go ten to one on the upside and later will often go down more than they go up. Today there is little interest in mining stocks or gold and this is a good thing because they are cheap and under-owned.
Timing becomes easier as you get more experienced. You can’t be contrarian if you are most people. Buying at the bottom requires study and patience while selling near the top only requires understanding psychology.
Doug has always been a uranium bull since nuclear is the safest and cleanest form of mass power production. At the start of the last bull market around 2001 uranium was ten dollars and today it is merely twenty. In 2001 there were very few uranium companies which quickly exploded to several hundred. Uranium companies grew like poisonous mushrooms after a rainstorm.
We will re-enter the greater depression which will be a time where most peoples standard of living goes down in the world. A lot of distortions and misallocation of capital has been created that needs to be cleaned out. We entered a financial hurricane in 2007-2009 which was the eye of the storm. We are now entering the trailing edge of the storm which will be rough for a time.
Time Stamp References:
0:40 – Doug’s early interests.
2:40 – Where we are in the gold market.
4:00 – China and Russia will lead.
4:45 – Previous gold bull market.
7:20 – Experience and wisdom in investing.
9:00 – Bullish on uranium.
11:45 – The greater depression.
15:00 – Favorite books and authors.
17:20 – His novel series.
Talking Points From This Weeks Episode
• Most assets today are in a hyper-bubble.
• Investing is also a matter of psychology.
• Science and tech are responsible for standard of living advances.
• He is bullish on uranium since it’s clean and safe.
• He warns that we are still in a financial hurricane.
• In six months the world could be a completely different place.
• His next novel “Assassin” is due out in November.
Best-selling author, world-renowned speculator, and libertarian philosopher Doug Casey has garnered a well-earned reputation for his erudite (and often controversial) insights into politics, economics, and investment markets. Doug is widely respected as one of the preeminent authorities on “rational speculation,” especially in the high-potential natural resource sector. Doug’s most recent book “Drug Lord” can be found on Amazon. Visit the International Man website here.
He has been a featured guest on hundreds of radio and TV shows, including David Letterman, Merv Griffin, Charlie Rose, Phil Donahue, Regis Philbin, Maury Povich, NBC News, and CNN; has been the topic of numerous features in periodicals such as Time, Forbes, People, and the Washington Post. More of his work can be found at the internationalman.com caseyresearch.com. Doug has lived in 10 countries and visited over 175. Today you’re most likely to find him at La Estancia de Cafayate (Casey’s Gulch), an oasis tucked away in the high red mountains outside Salta, Argentina.