Doug Casey: Mining Stocks Will Become Epic Bubble
0:00 - Introduction0:52 - Alt. Education5:19 - Speculating in Mining8:41 - Private Placements14:09 - Bubbles & Stimulus15:22 - Stimulus Storm17:06 - Bitcoin & Sound Money21:06 - Transitory Inflation?24:34 - MMT & UBI26:14 - Unintended Consequences28:26 - Climate Change & Lockdowns31:40 - Western Understanding33:30 - Diversifying Your Risk37:26 - Book Series40:39 - Concluding Thoughts41:43 - Wrap Up
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.
Tom welcomes back a man who should need no introduction, Doug Casey. Doug is a libertarian philosopher, speculator, and author.
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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."
Doug Casey is an American-born libertarian economist and advocate of the free market. He is a bestselling financial author, international investor, entrepreneur, and the founder and chairman of Casey Research, a provider of subscription financial analysis about specific market verticals including natural resources/metals/mining, energy, commodities, and technology. Since 1979 he has written or co-written the monthly metals-and-mining-focused investment newsletter The International Speculator. He has authored four books, including Crisis Investing