Doug Casey: Protect Yourself in the Most Chaotic Decade
Tom welcomes a man who should need no introduction Doug Casey. Doug is a libertarian philosopher, speculator, and author.
Doug discusses why it’s difficult today to be an investor with all the government economic distortion and mis-allocation of capital. However, in contrast a speculator can do well in this environment. He says, “Being a speculator should not be confused with being a trader.”
Doug is very bullish on gold at these levels because the crisis’s we are facing is very serious.
The dollar is still the worlds reserve currency and most trade is still done with it. Most central banks hold dollars and it is the official currency of several countries and the defacto currency of many others. When the dollar collapses it will have profound international consequences.
There aren’t many assets today that are cheap and the stock markets are very overpriced. Bond markets are in a hyper bubble with interest rates approaching zero. Commodities are one of the few things that are cheap today.
Doug is of the opinion that gold will be used once again as day to day money. It’s a great speculation and when the world loses confidence in fiat what else will be trusted.
Doug outlines the dangers of the gold mining business and the risks involved. However, today most mining equities are undervalued and therefore he remains very bullish.
Doug feels that bitcoin has excellent characteristics as money and also the utility of being able to transfer value without permission.
Lastly, Doug discusses his novel series with his latest book being Assassin, being third in the series.
Talking Points From This Episode
- Investing vs. Speculating
- Dollar being destroyed.
- Commodities are cheap.
- Gold mining business risks.
- Uranium thoughts.
Time Stamp References:
0:00 – Introduction
1:06 – Investor Vs. Speculator
3:25 – Cheap Gold
4:42 – USD Global Risk
6:32 – Commodities are Cheap
8:07 – When to exit gold
9:13 – Final Gold Bull Market?
11:09 – Mining Stocks and Risk
13:30 – Silver compared
14:33 – Bitcoin Has a Role
16:10 – Crypto Gov’t Risks?
17:19 – Uranium Thoughts
19:17 – Alternative Commodities
20:58 – Helium?
22:41 – Inflation vs. Deflation
24:10 – Push Towards Statism
27:08 – Saving and Rough Times
28:56 – His New Book “Assassin”
32:48 – The International Man
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.
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.