Doug Casey talks to James Turk

From a cold, freezing, snowy Circular Quay in Sydney, Australia, James Turk speaks to Doug Casey:

(How terrible it must be, to be in Australia in November.)

As well as being interesting for all the usual reasons, I enjoyed the interview for its discussion on Neal Stephenson’s phyles and the singularity work of Ray Kurzweil.

Here’s the YouTube blurb:

“In this video, Doug Casey, founder and chairman of Casey Research Institute, talks to the GoldMoney Foundation’s James Turk about the greater depression that is facing the developed world. In Casey’s view, finding intriguing investment opportunities is difficult at the moment, owing to the dislocations affecting economies as a result of central banks’ money printing efforts. He does however think that tangible assets such as precious metals, land and fine art remain the best options available at the moment.

In stark contrast, Casey is extremely downbeat on bonds and the US dollar. He thinks that given the incredible levels that bond prices have risen to as a result of panicked safe-haven buying by hedge funds, they represent an excellent shorting opportunity for speculators.

Turk and Casey also discuss the opportunities to be had in mining shares, though Doug also points out the significant risks that mining companies face — relating to political pressure from politicians and environmentalists. He says that investors need to be aware of these risks, but remains bullish on junior gold and silver producers.

Casey and Turk also discuss whether or not technological advances will ever gold obsolete as a potential form of money and store of value. Casey points out that according to Aristotle’s definition of good money, gold will always remain the best form of money. In his words: “gold is uniquely suitable for use as money”. Viewers can subscribe to free “Conversation with Casey” at http://www.caseyresearch.com. This interview was recorded in Sydney, Australia on 10 October 2011.”

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics, Goldbugs and tagged , , , , , , , , . Bookmark the permalink.

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