Doug Casey: Mining Stocks Will Become Epic Bubble
Tom welcomes back a man who should need no introduction, Doug Casey. Doug is a libertarian philosopher, speculator, and author.
Doug discusses alternatives to college since it’s usually a misallocation of time and money and full of Marxist ideas.
Doug briefly highlights several key areas when speculating in mining. Basic knowledge of geology and engineering is valuable but more importantly is the ability to evaluate management. Many people have a social veneer that masks their inabilities. He points out that mining is the most volatile market sector, so one needs to be careful.
The current state of the economy is now a period of stimulus checks. Retail prices will undoubtedly skyrocket as we enter “The Greater Depression.” which will likely be severe and long-lasting. Inflation is not going to be transitory in a time of rapid monetary expansion. However, there is a risk of catastrophic deflation when bubbles inevitably pop.
He argues that Bitcoin has value due to its ability to transfer value across borders without the banking system. It has many characteristics of good money and has introduced many to sound money principles and likewise precious metals.
Polices like MMT and UBI will only exacerbate the coming collapse since these rely on money printing. These policies are not solutions but only extra problems. Society and individuals manufacture wealth through creation, not collecting checks. While everything seems okay, he believes a visible calamity will develop by this time next year.
Social engineers want to control other people, and these types often end up in government. Once people understand that the pandemic is essentially a scam, the establishment will transition back to pushing climate change.
Your most significant risks are usually political and come from your government. So start diversifying politically and financially. Consider a residence in another country and buy physical metals. Now is a good time to speculate in mining stocks and also consider oil and uranium equities.
Doug discusses his book series and the many ethical dilemmas that it ponders. Lastly, Doug says, “Keep your pecker hard and your powder dry and the world will turn. Don’t take it too seriously it’s all dust in the wind.”
Talking Points From This Episode
- Alternative education ideas.
- Speculating in mining considerations.
- Bitcoin as a gateway to understanding sound money.
- Protecting your finances and current opportunities.
Time Stamp References:
0:00 – Introduction
0:52 – Alt. Education
5:19 – Speculating in Mining
8:41 – Private Placements
14:09 – Bubbles & Stimulus
15:22 – Stimulus Storm
17:06 – Bitcoin & Sound Money
21:06 – Transitory Inflation?
24:34 – MMT & UBI
26:14 – Unintended Consequences
28:26 – Climate Change & Lockdowns
31:40 – Western Understanding
33:30 – Diversifying Your Risk
37:26 – Book Series
40:39 – Concluding Thoughts
41:43 – Wrap Up
Amazon Books: https://tinyurl.com/an3uxhc
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, “Assassin,” can be found on Amazon.
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. 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.