In today’s volatile economic environment, securing your financial future has never been more important. Doug Casey, a renowned investor and financial commentator, recently sat down with The Daniela Cambone Show to discuss the potential risks facing the U.S. economy, including a possible U.S. dollar collapse, and the opportunities emerging in the Argentina economy. If you’re concerned about the stability of your wealth, understanding these dynamics and the role of gold as a protective asset can be key.

Is a U.S. Dollar Collapse on the Horizon?

Doug Casey didn’t mince words when discussing the future of the U.S. dollar. The dollar, once the world’s undisputed reserve currency, is losing its status as countries like China and Russia shift away from using it in global trade. Casey highlighted that growing debt, inflation, and uncontrolled government spending have eroded confidence in the U.S. dollar, increasing the likelihood of a U.S. dollar collapse.

For those who have saved and invested primarily in dollar-denominated assets, this presents a significant risk. If the dollar’s value continues to fall, retirees and conservative investors may see their purchasing power sharply decline. This risk underscores the importance of diversifying your assets, and as Doug Casey emphasized, gold is one of the best hedges against currency devaluation.

Gold: A Reliable Asset in Times of Uncertainty

As the possibility of a U.S. dollar collapse grows, many central banks are turning to gold to preserve their reserves. Russia, China, and several other nations are buying significant amounts of gold, a move that Doug Casey believes is a strong indicator of gold’s enduring value.

“Gold is the best house on the block,” said Casey during his interview with Daniela Cambone. He pointed out that gold has been used as a store of value for centuries, and its importance has only grown in recent years. As an asset that is not tied to any government or fiat currency, gold offers a level of security that is hard to find elsewhere.

For investors over 50 who are looking to protect their savings from inflation and the potential collapse of the U.S. dollar, gold remains a time-tested solution. At ITM Trading, we encourage our clients to explore how physical gold and silver can provide peace of mind in today’s unpredictable financial landscape.

Argentina’s Economic Reforms: An Emerging Opportunity

While the U.S. faces potential economic turmoil, Doug Casey also touched on a more positive development: the improving Argentina economy. Under the leadership of libertarian economist Javier Milei, Argentina is undergoing significant reforms aimed at reducing inflation and curbing government corruption.

Casey pointed out that the Argentina economy, which has been plagued by economic instability for decades, may soon become one of the most attractive markets for investors. Property values are incredibly low, and industries like mining are booming, offering significant opportunities for those willing to invest early. Argentina’s economy serves as a reminder that while some regions face collapse, others are rising, creating new investment opportunities for savvy investors.

Why Gold Should Be Part of Your Wealth Strategy

In his conversation with Daniela Cambone, Doug Casey made a compelling case for gold as a cornerstone of any wealth preservation strategy. With governments worldwide printing more money and central banks hoarding gold, the metal’s value is expected to rise. Casey even predicted that gold could surpass $3,000 per ounce in the coming years.

For financially conservative investors, particularly those nearing or in retirement, gold offers more than just a hedge against inflation—it provides a way to secure your savings for the long term. By holding physical gold, you can protect your assets from the devaluation of paper currencies and safeguard your purchasing power through turbulent economic times.

Conclusion: Educating Yourself About Gold’s Role in Economic Security

As Doug Casey’s insights demonstrate, understanding the risks of a U.S. dollar collapse and the shifting dynamics of global economies, like that of Argentina, is crucial for protecting your wealth. Gold stands out as a reliable and proven asset in times of uncertainty, offering a solid foundation for anyone looking to preserve their financial future.

At ITM Trading, we specialize in educating our clients on the benefits of owning physical gold and silver. If you’re concerned about economic instability and want to explore how gold can fit into your wealth strategy, our team is here to help. Contact us today to schedule your free consultation and learn more about securing your assets with gold.

SOURCES:
https://www.youtube.com/watch?v=s8iq7YXe8es

https://www.youtube.com/watch?v=LD6kvDHbIYY

https://www.youtube.com/@itmtrading/videos

https://www.youtube.com/watch?v=omAk1gMyw7E

https://www.cnn.com/2024/09/06/politics/dick-cheney-kamala-harris-president/index.html

https://www.youtube.com/watch?v=gIjG5veDZqY

https://www.forbes.com/sites/timtreadgold/2024/06/18/gold-at-3000oz-in-sight-as-central-banks-continue-to-buy/

CHAPTERS:
0:00 World Travel
3:00 U.S. Dollar and De-Dollarization
6:30 Trump’s Tariff Policies?
12:00 Global Shift to Gold
16:45 U.S. Government Spending
21:00 Homelessness
26:45 RFK’s Opinions
32:30 Globalism vs. Nationalism
44:00 Future of Gold Prices
50:00 BRICS Summit
55:00 Javier Milei’s Economic Reforms

TRANSCRIPT FROM VIDEO:
00:00
Hi everyone, Daniela Cambone here for ITM Trading with a reminder before we get to today’s interview that if you haven’t taken advantage of your free education session with one of us here at ITM Trading, I strongly urge you to book your appointment with one of our analysts here. You could do so. There is a kindly link below in the description of the video. You pick the time, you pick the day that works best for you, and someone will help you build a full-proof wealth.

00:29
preservation strategy based on owning physical gold and silver. Do it, you won’t regret it.

00:45
Hi, this is Daniela Cambone and welcome back to the Daniela Cambone show here on ITM Trading, joined again by best-selling author, renowned investor, Doug Casey. And can I say a very good friend of mine, who I always enjoy speaking with. So happy to see you, Doug. Well, what made me turn the compliment? Because I feel the same way, Danny. Thanks.

01:11
and I feel it’s been far too long. So first and foremost, how are you? Well, I’m good. Here we are at the end of summer and I’m on the shores of the Chesapeake Bay in Virginia and it’s delightful. My next step is going to be Kuala Lumpur, then Thailand, Phuket, and then Sri Lanka.

01:38
at which point I will head back to Argentina and Uruguay. The excuse is there’s a conference that I’m speaking at in KL. And then I’m going to go back to go to Thailand because Thailand is it’s the polar opposite geographically and culturally from Argentina or Uruguay. But

02:06
It’s in the same class as far as a favorite country for me. So I spent three weeks there and then Sri Lanka because believe it or not, I’ve never been there. So I thought this is a good opportunity because we’re 15 years after the end of their civil war and two years after their most recent economic collapse. I just like to see what it’s like. Sri Lanka’s kind of India light, if you would. So.

02:36
Yeah, I only had the pleasure of stopping in Sri Lanka for two hours, but unfortunately didn’t get to spend time in the country. But I’m happy you brought up Argentina because I want to get your thoughts on what Millet is doing there. But first, Doug, let’s focus on the United States for a second because I saw this headline and I thought I want to get Doug’s thoughts on this because I’ve spoken about de-dollarization, the demise of the US dollar. Where are we at in the cycle?

03:06
And now Donald Trump, speaking during a rally in Wisconsin, said that he promised he would push to keep the U.S. dollar as the world’s reserve currency if elected in November. He said, quote, many countries are leaving the dollar. They are not going to leave the dollar with me. I’ll say you leave the dollar. You’re not doing business with the U.S. because we’re going to put 100 percent tariffs on your goods. So this is not the first time he’s spoken about repercussions.

03:34
for countries that turn their backs on the US dollar. So obviously a very important issue for him is dollar dominance. What do you make of this 100% tariff threat? Would it backfire? Or good cause? No, it’s absurd and it’s dangerous. And of course with your audience or my audience too, frankly, they’re mostly pro-Trump people. So it’s a…

04:04
commercially dangerous for me to say anything that is not, you know, pro-Trump. But let me put it this way. I like Trump because he’s amusing, he’s got a sense of humor, and most importantly, Trump is a cultural traditionalist. He does not wanna overturn the very underpinnings, the basis of America, what’s left of America as we know it.

04:33
So yeah, I guess I support Trump for those reasons. But from an economic point of view, with some exceptions, like as a businessman, he wants to cut domestic taxes. That’s wonderful. He wants to cut domestic regulations. That’s wonderful. But he’s actually an economic ignoramus. And threatening the world to put on a 100% tax on imports is, it is so stupid, so dangerous, so destructive.

05:04
I mean, it was tariffs that actually set off the last depression. And at this point, the United States is a consumer, not so much a producer. This is why we run, what is it, $800 billion, a trillion dollars of trade deficits every year, and we’ve been running a gigantic trade deficit for the last 40 years. So.

05:32
He’s just going to penalize the American people and he could devastate the world economy. I understand why he… Look, the dollar is a dead duck. Nobody wants to use the dollar anymore. It’s crazy. When the Chinese trade with the Russians, they don’t want to use rubles, which is a nothing currency. It’s a piece of paper. They don’t want to use yuan. The Russians don’t trust that.

06:01
So the dollar is the numeraire. It’s not going to stay that way. The whole world wants to dump it because it’s the on-back liability of a bankrupt government. Worse than that, if you trade with dollars around the world, it all clears through New York, which is very dangerous now, as the Russians found recently. So, no, it’s too bad. The Donald is…

06:29
not only a super nationalist, he’s a jingoist. Better than Kamala though, who knows what she’s going to do because she’s actually, she said she hasn’t changed her values, she’s quite correct. One of the few things she said that wasn’t a lie because her values are those of a Marxist, of a communist. They really are. I’m not going overboard in saying that. So we’re going between skill and caributus in this election.

07:01
To your point, is there anything that you feel can be done to reverse the cycle of countries turning their backs on the US dollar? Yes, there is. Tariffs are not the answer. No, they’re not the answer. Look, the major export of the US for the last 40 years, as I’ve said many times before, has not been soybeans or IBMs or Bowings.

07:31
dollars. So there’s a huge overhang of tens of billions, excuse me, tens of trillions of dollars outside the US. And they’re like a time bomb. It rests on nothing but confidence. And confidence can blow away like a pile of feathers in a hurricane. So at some point, all these

07:59
dollars in the hands of foreigners who don’t have to use dollars. It’s just convenient because everybody else uses dollars. They could dump them. But to whom? They’ll come back to the United States in exchange for titles to land, companies, businesses. And at that point, the US will, seeing that happening, will put on foreign exchange controls. I mean, this is, I mean, the Donald could set that off, quite frankly.

08:28
lack of faith in the dollar doing that type of thing. The world is going to gold, quite frankly. They can’t trust each other’s funny money currencies, and they can’t trust the dollar. So that’s why all the foreign central banks, they’re basically idiots, but not totally. They’ve been buying gold. And I wanna get back to that point with Russia’s big bet on gold that we saw announced last week.

08:56
As you know, I have other experts come on the show pro the dollar saying it will always be the best house on the block. There’s no alternative or to the point about the US debt that there’s enough tax money that could wipe away the trillions of dollars of debt. The debt is not an issue yet. So two points there. What do you say to those folks who usually come back with that return of there’s no other option? It’s still the best.

09:25
It’s the best house on the block, Doug. There’s nowhere to go. The best house on the block is actually gold. And people have forgotten that as late as 1933, everybody used gold to settle. You even had gold coins in your pocket to buy stuff down at the grocery store. So I think the world is going to go back to gold. That’s the answer. Instead of using these…

09:54
fiat currencies that all the governments of the world print. And what’s the solution to the problem? Well, going back to gold is one, but as far as the United States is concerned, and all of the world’s countries, government spending has to be radically, radically reduced. I was talking to David Stockman the other day, and he used to be head of the OMB. Have you had him on the show recently?

10:21
I have, and we are bringing David back, so he worked with Reagan. That’s correct. And he’s a numbers guy. He really is kind of a nerd, very knowledgeable. And I said, it must be about 80% of the U S budget is entitlements and things that you can’t change, like the national debt have to pay the interest on it. Trump has said, we’re not going to cut one penny from social security or Medicare or Medicaid.

10:51
or any of these welfare payments. And the military, Trump wants to raise spending for the military, which is basically just a welfare program for big weapons companies at this point. I mean, it’s crazy. It serves no useful purpose. So I said, it must take 80% of the budget is written in stone. He says, no, the answer is 91% of the budget. You can’t change. So all the other things, other than what I just mentioned

11:21
budget are from the remaining 9%. The government is bankrupt, completely and thoroughly bankrupt. The deficit that the government runs now, $2 trillion, moving on $3 trillion per year, they can’t extract that in taxes at this point. They’re printing up money. They’ve accepted what’s known as modern monetary theory, which is basically government runs a deficit, you print the money via the Federal Reserve.

11:52
So we’re headed towards a real disaster. I’ve been saying this for years, of course, and the standard of living of the average American has been sinking for many years, held up by advances in technology, which is wonderful. And the fact that some people save, they produce more than they consume, and they save the difference.

12:20
But most people have just been borrowing more, which means that they’re either living off of the capital other people have saved in the past or they’re mortgaging their future or both. So it’s not going to end well. It cannot end well, assuming even we don’t have World War Three. Here’s something that’s going to get you going on the topic of government spending. I thought of you when I saw the clip of RFK.

12:50
speaking about the war in Ukraine.

12:57
We committed $113 billion. Just to give you an example, we could have built a home for almost every homeless person in this country. We then committed another $24 billion since then, two months ago, and now President Biden is asking for another $60 billion. But the big, big expenses are gonna come after the war when we have to rebuild all the things that we destroyed. Mitch McConnell was asked, can we really afford to spend $113 billion on Ukraine? He said, don’t worry, it’s not really going to Ukraine. It’s going to America defense manufacturers.

13:24
So he just admitted some money laundering scheme. And who do you think owns or has ownership in every one of those companies? BlackRock. I thought of you when I saw that clip, fingers pointing to BlackRock in almost every example. Do you agree with what RFK said here? Well, look, yes, I agree with it, but he’s saying we could have built houses for the homeless. What’s a stupid idea?

13:53
What are you going to build more Pruitt Igoes or Cabrini Greens that have to be detonated after a few years? I mean, you don’t, it’s not the government’s province to build houses for people, especially the kind of people that are so irresponsible and drugged up and psychologically messed up that they have to live on the street. So the answer to the homeless problem is not to take the money that is being laundered in the Ukraine.

14:23
and build crappy houses for damaged people to live in. That’s not the answer. I hope that Kennedy doesn’t think that. I hope it’s just a rhetorical statement on his part. And there were a couple other stupid things that they both said. I mean, and you’re quite correct. You know, McConnell, who’s a disaster, all of these people in Washington, I’ve got to say they impressed me as having basically criminal personalities.

14:52
Why do I say they have criminal personalities? Because they really think they have a right to control the lives of other people, to take the money that other people, the capital, the wealth that other people create and basically expropriated from them. And even if Trump reduces taxes saying, yes, I agree, money belongs in the people’s pocket, not in the government’s pocket. Okay. That’s true. But.

15:21
You have to realize that even if the taxes in the US went to zero, which would be a wonderful thing, and it was all just printed money, it’s still a tax. Somebody’s got to pay for the real wealth. I mean, the government has got to be cut back by 90 percent. I mean, you can start with 50 percent, but it’s growing. It’s not getting smaller.

15:51
And it’ll keep growing under Trump. It’ll just grow in different ways. Who’s going to be an utter and complete disaster? Trump will only be a partial disaster economically. You know, you’ve changed this another question for you. Well, I’m interested to get your take on what do we do with the homeless? I mean, for especially for folks who live in the major cities. I mean, this is a major, this is a serious concern, right? It’s not so much that they’re on the street.

16:18
but it’s more the mental issues that come with it. And then how, I mean, I’ll give you an example. I mean, I’ve had multiple encounters with homeless folks, but just the other day, so I walk in the kids to school, Doug, and this man stops me and he said, “‘Oh no, you might not wanna go down this way “‘because there’s a homeless man exposed “‘and you might not want your kids to see that.’ And I said, well, thank you. And I crossed the street. So I mean, every day I have encounters of the sort. So it’s really, it’s unpleasant, Doug, right?

16:46
What would be your solution? What do we do here? Well, before the government got into this business, there used to be hundreds, even thousands of beneficial societies in North America where local people, sometimes on a local scale, sometimes on a national scale, would get together. Organizations like the Rotary Club or Kiwanis or Lions, there used to be many hundreds of these things.

17:15
and they all have their own special area of interest. So homelessness was never a problem in the past the way it is now. I’d say if you freed up the economy and there was, got the government out of these things, which has displaced all these wonderful beneficial organizations, hey, we don’t need to do it. The government’s gonna take care of it. That would solve a lot of the problem.

17:45
Um…

17:48
And people say, well, it’s the drug problem. We’ve got to cut off drugs. You can’t cut off drugs any more than prohibition prove that you couldn’t cut off alcohol. We simply create, draw criminals in there to provide it to people that want it. So that’s not the answer either. In fact, there wasn’t a real drug problem in this country before the Harrison Act at the beginning of the 19th century.

18:18
anybody, a kid could go down to a local pharmacy and buy cocaine or morphine or whatever. But yes, some people have a psychological problem and need to take drugs or think they do to get out of reality and get into a hazy dream world. Okay, that’s fine. It’s not fine, but that’s the way they are. But drugs are a problem because they’re illegal.

18:48
and criminal organizations can make a lot more money with illegal things than they can with drugs being sold like aspirin. So that’s a whole different story, but most of the problems that this country has quit over time or would over time be solved by getting the government out of almost everything. The government is the big enemy, the big disaster, the big predator.

19:17
that’s stalking the herd. But everybody thinks that the government is the answer. It’s not the answer, it’s the problem. And that was a big premise or voting point that RFK was running on, right? There was too much government involvement. So what did you make? I like almost everything RFK has said, except just like everybody, they don’t talk about the welfare program. They don’t wanna get rid of any of that.

19:48
which is really what’s destroying the economy and the moral fiber of the U.S. It’s that everybody sees the government as a giant safety net. So you say take away the safety net, learn to swim? Well, that’s exactly right. In other words, why should anybody be forced to support anybody else?

20:16
It creates irresponsibility. You give people free stuff and they’ll take it. And of course, they really wanna go to a guaranteed annual income, which amounts to an endorsement of what Klaus Schwab said. You’ll owe nothing, but you’ll be happy. We’ll give you a, you can’t afford rent today. It’s very expensive. Hey, that’s okay. We’ll give you a place to live. And we’ll give you food and…

20:45
thousand bucks a month or whatever it is that you can spend. Get your local Starbucks and yeah, you’ll be happy. That’s not the answer. What do you do when you’re walking on the street and you see maybe a migrant mother holding her child, panhandling, begging for food? Do you give 20 bucks, 10 bucks, keep walking? No, I don’t. Because the question is, what are all these migrants doing here? We’ve probably all heard at this point.

21:14
of what’s happened to Springfield, Ohio, where they dumped 20,000 Haitians on a town of 40,000 people. It’s totally upsetting the whole social strata of the town. I mean, it’s become dangerous, dirty. It’s horrible. Why is the US government not

21:43
I have no problem with immigrants. I have a problem with paying immigrants to be here. I mean, these people are being shipped in by NGOs indirectly through the US government and paid to be here, given free housing in hotels or wherever, in New York, everywhere, Frank, including Springfield. When we had immigrants in the last century and in the early part of the 20th century, people came here that were

22:12
penniless. That’s fine. There were opportunity seekers leaving their countries for a country where there was freedom and opportunities, but they were given nothing, zero. That includes the Irish and the Italians and the Jews and the Poles. They got absolutely nothing. But these people today, there’s two problems. Number one, they’re being subsidized by the government.

22:41
mainly through NGOs, but the government’s actively involved in this, so that they’re encouraged to come here. Big mistake. And number two, these people are from a totally different ethnic linguistic background, cultural background that we have. So it’s like birds of a feather flock together. But these people…

23:11
don’t want to integrate. They’re just very different. And especially the people, the Muslims, the Mohammedans, I mean, they’re very, that’s another thing, the religious differences. It’s a disaster. You don’t want to import trouble.

23:34
Let me bring up this quote from Tucker Carlson, who is, you know, obviously, I want to get your thoughts on RFK joining forces with Trump. And then, you know, he saw Dick Cheney endorsing Harris. And he said, Tucker Carlson said, it was quick to point out that we are witnessing a political realignment where the old lines of demarcation between Democrats and Republicans are being swept away and replaced now by the question of, are you a globalist?

24:02
or a nationalist? Do you see it that way? Yeah, well, actually, I’m neither. I’m a libertarian. And as far as I’m concerned, my country lies wherever freedom, personal liberty lies. And it’s being banished from the United States, or for that matter, from all of North America, as well as Western Europe. Dick Cheney, one of the…

24:31
truly worst individuals that’s ever been in government. I mean, he’s a warfare stater, a welfare stater, an economic dirigist. I mean, I’d expect that he would, like most neocons, support Harris, who was a warfare, welfare estate person. I mean, Trump’s got real problems that way, but not nearly as bad as Harris.

25:02
I want to get back to your point, Doug, about countries turning to gold. And I saw this news last week that Russia is making a huge bet, taking a huge bet on gold, going to spend 92 million each day on the yellow metal and foreign currency starting September 6th through October 4th for a total of 1.9 billion. This is an announcement that came from the finance ministry.

25:28
What do you think the plan is? What do they want to do with why they want so much gold? They realize that in order to trade with other countries, you need money. You can’t barter. I mean…

25:45
you know, barters for, you know, primitive peoples living in the jungles, I mean, that don’t have money. And none of the money today is good or reliable. Leaving it in banks is dangerous. Most of the banks are on very, very shaky ground all over the world. So of course, they’re buying gold, frankly, and especially in the Orient, China, Thailand,

26:14
Individual people are buying gold in the thousands of gold shops, that many thousands, they’re all over the Orient. They’re all trading paper currency for gold and they’re smart. I mean, look, I’ve been a gold buyer for most of my adult life, starting in the low 40s. And I’ve never sold a single ounce. And as a savings vehicle, it’s treated me just fine. Thank you. Going from

26:44
you know, 40 something to 2500 and it’s going higher. And occasionally as a speculative vehicle, it’s been great. It’s not always a good speculation. Sometimes it is. It’s a savings vehicle. It’s money. Well, I’m happy you say that because I get so angry when I see so many bullion dealers urging people to sell their gold at this price, you know, to take their dream vacation.

27:14
Because that’s not what you say. Liquidate capital in order to consume. That’s a long term formula for success, isn’t it? It’s hold gold to preserve your wealth and create generational wealth. So what I find interesting having covered this gold market for, I don’t know, close to 20 years now, Doug, is that we have a $2,500 price.

27:45
And yet, do you agree that the interest is not there yet from the retail investor? I don’t feel it like past rallies. No, not in the West. It’s not here. There’s no interest from the retail investor in the West. And you can…

28:08
That’s true on steroids for the shares of gold mining companies. Zero interest in that. I mean, zero. I mean, these gold mining companies are, nobody even knows they exist or cares they exist at this point. So it’s as bad a bear market in them as I’ve ever seen.

28:36
Yeah, but that’s such a key point. That’s such a key point. Why is there a lack of knowledge of the existence? Are the mining companies to blame? Are they not doing a good enough job marketing? Is the industry to blame? What’s the issue? I mean, I know mainstream media doesn’t cover it. They’re covering Nvidia. They’re not going to cover, you know, maybe once in a while they’ll bring on Mark Bristol. But that’s it. Yeah. Nobody understands or…

29:06
talks about how serious the economic crisis we’re facing is, number one, all these gold mining companies, they, they, when they promote their companies, they talk about gold as being, well, like copper or nickel or, or uranium, these things are all fine and dandy, but gold is special. It’s different from these other things. And of course,

29:36
money managers think it’s a pet rock. They don’t see it as money. In addition to that, these gold companies are so small, in addition to not believing in it, because they were taught that when they went to their economics classes in college taught by Keynesians or even Marxists today. These companies are so small.

30:04
that a major money manager can’t even buy them because they’re not even rounding errors. That goes for the public too. So things will change. I mean, it’s cyclical. And that’s why I think that these mining companies, most of which are crappy companies, and I hasten to add that mining itself is now a crappy business.

30:34
It’s not like 100 years ago, what if you found a gold mine, you found a gold mine and you were in tall clover. Today, if it costs you millions of dollars to prospect, to find a possible gold deposit, and then tens or scores of millions more to development, and then hundreds of millions to put it into production, and that’s when your trouble really starts. So it’s, and it takes.

31:03
decade with all the cash. It’s a terrible business. But still, at some point, these gold companies, as they always have in the past, the public will get fear. You buy gold out of prudence and fear. But that’s going to spill over into the mining companies, and

31:32
stocks that have gone 100 to 1, not in the course of a lifetime, but in the course of a few years, even a thousand. Those are nice ones to own. Help me fill in the blank here then. We spoke about the central banks hoarding gold, buying up gold. So Doug Casey wouldn’t be surprised given the amount of buying from the central banks to see gold head to wear within the next year.

32:04
It’s so hard to pick a number, Danny, because how much gold is there in the world? Well, nobody knows. But the best guess at this point is there’s about 7 billion ounces that have been mined since the dawn of history and are still available and above ground. So you do some arithmetic and you see that gold is still a teeny weeny asset class.

32:34
I don’t know what it’s going to go to. In fact, I don’t know if in the next few weeks or few months, gold doesn’t go back down to $2,000. Now it’s entirely possible. But my suspicion is that if we talk a year from now, it’s going to be well above $3,000. Maybe $3,500. It’s hard to say. That’s a wild guess. I mean, nobody knows. It’s unpredictable. What we do know is that- Are you expecting-

33:03
The Chinese, the Russians, the Indians, all these other central banks are buying it because they want to get out of dollars.

33:11
And people in the Orient especially are buying it as individuals. And at some point, I suspect you’re going to find more people in the West deciding, you know, I better maybe I should buy some too. So I’m well, they’re buying it on Costco, that’s for sure. Well, that is an interesting phenomenon. Yes, that is an interesting, but the average person doesn’t know, right? Doesn’t care. Right. Yeah.

33:43
Are you expecting anything surprising to come out of the BRICS Summit end of October? It’s in Russia this time around. Any thing you think we could see? Well, they can see that the West, North America and Western Europe are a sinking ship. The governments are bankrupt. The citizens are overtaxed. Inflation.

34:13
which is, you can’t believe the government’s numbers, quite frankly, is out of control and going to get much worse. So of course they wanna have their own grouping. The bricks are not going to be able to put together a brick currency to replace the dollar because none of them trust each other nor should they. So.

34:39
But they don’t want to be in the orbit of the US government anymore. It’s dangerous. I mean, about the only thing the US government has to offer is a massive military with 800 bases around the world. And they don’t particularly like that. I mean, US soldiers can appear anywhere and, or the CIA, and do things which are unpleasant, so they don’t want any part of that.

35:08
So frankly, you know, of all these of all the world’s leaders, Putin is the most intelligent, has the best education, the most knowledge of history. In many ways, he’s the most prudent. I think he made a mistake on the Ukraine, but he was pushed into it by the US government. I mean, pushed into it was a mistake, but he was pushed into it. So

35:38
I don’t know where it’s going to end. I just hope it doesn’t end with World War III, quite frankly, because you can’t back a country into a corner forever without expecting some type of a rebound, and then things can get out of control. But where does, and I really hope you’re wrong, where does, where’s the boiling point?

36:08
for a potential World War III? Yeah, where’s it gonna start? Well, obviously, the Ukraine, their army is on the ragged edge of collapse. And what I think is going to happen is the Russians will take the Donbas and the Crimea and leave the Ukraine as a rump state. And hopefully that…

36:37
that’ll end there. But you can’t tell. The other thing is, of course, what’s going on between the Israelis and the Palestinians in Gaza, and of course, with the Iranians and with Hezbollah. You don’t know how that’s going to end either, because when you look at Israel and the US, it’s like a man and his dog.

37:03
And sometimes the man bite kicks the dog and sometimes the dog bites the man. But my solution to it is look. It is very nice that Israel is there. I’m pro-Israel in a lot of ways. And I’m in the Palestinians, even though I’m anti-Islam. I’m pro the Palestinians in a lot of ways, too. I don’t.

37:28
like what’s going on over there anymore than anybody else does. The answer is the U S shouldn’t be involved in it. It’s not our fight and the U S being involved in it can only aid in the thing spinning totally out of control. Uh, and getting, and getting into a war with, uh, God knows who. So, uh, once we were talking, I mean, the U S the U S has been back of the problems in, in, in, in the Ukraine.

37:58
It’s in back of the problems in Gaza. And as far as Taiwan’s concerned with China, that’s none of our business either, quite frankly. I wish the Taiwanese well and the Chinese people well, but not our problem. We could only make it worse. And who knows where the other place we might decide to stick our nose into that’ll make it even, someplace in Africa, quite possibly.

38:28
as I know you spend your time, a lot of time in Argentina obviously.

38:34
Are you, do you like what you’re seeing? I mean, we see how inflation has come down in the country. Are you, do you like what Millay is doing there? Absolutely. I mean, I’m a huge fan of Millay. It’s incredible. Argentina, I mean, I’ve always liked the country and I have a lot of real estate there and lots of stuff in Argentina.

39:03
And it’s the average Argentine supports Malay, especially the young people. They were just tired of the deep state ripping them off. And Malay is actively firing government employees and disbanding agencies, pulling them out by the roots. It’s hard work because these paradis that have controlled and ruined the country for the last 70 years are entrenched.

39:32
And they don’t want to go away because it’s breaking their rice balls, stealing from the people through the government. That’s what Peronism is all about, actually. But as long as nobody assassinates Millet, I think he’s got the, there’s a possibility that he’s going to turn that country into one of the freest and best in the world. It’s already a wonderful place. And the same thing with Bukele in El Salvador, actually.

40:02
They’re both kind of cut from the same cloth. And Malay is very receptive to mining. I mean, look at the copper boom in Argentina. New silver projects opening up in Argentina. Yeah. Capital, at some point when people say, oh, this is for real, it’s not just a blip on the screen, capital will pour into Argentina, both foreign investors because

40:30
Everything’s still very cheap in Argentina, especially property is very cheap. I mean, to get a, let’s say you want to get a really nice apartment in the recalibrate in Buenos Aires, which is the equivalent of the Upper East Side in New York, even though New York is downhill and Argentina is coming up, but still for a million dollars to replicate that apartment on the Upper East Side.

40:57
It’s going to cost you 10 or 15 million at least. So that’s how cheap things are in Argentina. That’s good to know. It is. And I think that what’s going to happen is that foreigners are going to say, okay, I’ll take a shot. Malay is for real. And Argentines are going to bring their money, which is scores of billions. Who knows how much they have abroad back into the country. I’m very optimistic.

41:26
And as far as El Salvador is concerned, I mean, I thought that was the worst country in all of the West. Well, Haiti has always been the worst. Although Haiti used to be a nice place, believe it or not. I spent a lot of time in Haiti over the last 50 years and it used to be nice, believe it or not. But El Salvador was the worst in the Latin world. And now it could be the best.

41:54
Doug, like I said, I always love touching base with you on various topics. Just I think of you so often. For various random, yeah, just various. I always think, I swear, I could be mostly at airports or when I’m dealing with customs agents. I think what would Doug do in this situation? But anyhow.

42:22
Which reminds me, I need to activate my Nexus card. But I also thought of you when I saw the news of Phil Donahue’s passing. Cause I always tell you, I loved when you were on that show for various reasons. The fact that Doug Casey was on in, you know, daytime television. And we don’t have any shows like that today where they bring on a Doug Casey.

42:46
But it was very sad to hear of his passing. I’m sure you were as well. I know you love that. He was actually a very smart and intellectual man. He was a pleasure. Let me interview you for a moment though. Who do you think is going to win the election in the US?

43:10
Honestly, Doug, I don’t know. I’m not copying out of that answer.

43:23
Cause I know you called it, we had an interview at a show, I think it was New Orleans before when people didn’t think Trump had a chance, you said he was going to win. And I was going to ask you what you think was going to win. And I also said Biden was going to win in 2020. You did. So your track record is probably better than my track record. I could tell you Chudo’s not going to win. Hey, there’s some good news out there in the world. You know, I don’t, I don’t, I’d be shocked if Chudo were to win. But who do you think takes it?

43:53
Or is it dependent on this debate?

43:57
Yeah, well, typically US elections are like 48 to 52 or 49 to 51 or really, really close, like with Kennedy and Nixon and others. I’m afraid the Democrats are going to steal it. And if they do, there could really be violence, frankly.

44:26
Civil war. I know you’ve spoken about it. But even if Trump wins, I mean, the media and academia and most of the corporate world, they’re all pro-war, the Democrats. They are. We’re on the cusp of a civil war, quite frankly. And listen, anything could happen. Maybe the

44:56
just such a horrible candidate in so many ways. They still got time to get rid of her. I mean, maybe. I mean, anything can happen. If you look at the narrative of how things, I mean, had you asked me, you know, up until the assassination attempt, I mean, the whole country was red. It was done. It was Trump. Trump was beating Biden. And then how quickly everything changed.

45:23
I mean, there was all that momentum at the Republican convention. Then Biden leaves the ballot. And then all of a sudden Harris, who I, in my opinion, in my humble opinion, no one has cared about as vice president, all of a sudden has this momentum behind her. It’s like, where in the world did this momentum come from? I don’t know. And they may try to take Trump out again because the Democrats that are in office now, they’re really Jacobins.

45:53
They want to cement themselves in office and if they can make Trump go away, they’ll definitely be reelected. But maybe it turns out that Kamala is such a liability. They might find some way to replace her. I mean, it’s a chaotic scene. I mean, it was really a coup that got rid of Biden, who was a terrible candidate. I mean, they forced him to resign probably by saying all kinds of things. Yeah. But the timing of it, the timing of it, why didn’t they force that resignation last year?

46:23
So the timing of it created this wave of momentum, like so close to the election date. So I just, I think the narrative of it all is interesting. And I don’t know how planned that was, is what I’m saying. I don’t know, but I fear that the Democrats will win and they’re much more dangerous than the Republicans.

46:50
We will see Doug Casey. We will see. Thank you, Danny. Uh, thank you. Uh, I hope we’ll see you soon. Uh, we’ll touch base. I’ll look forward to it. We’ll talk after the elections. Talk after the election to see how, how it goes. Doug Casey, thank you again. And thank you all for watching. We’ll have more great content coming your way here on the Daniela Cambone show and don’t forget to sign up.

47:19
at danielacambone.com. Doug, are you writing any books right now? Well, I’ve been threatening and maybe I’ll still do it, writing a book, telling young men what they should do instead of going to college and misallocating four years of time and hundreds of thousands of dollars of money, actually what they should do with that four year period of time.

47:44
And John Hunt and I are working on the fourth novel in our series after Speculator Drug Lord and Assassin. The next one’s going to be Terrorist, where we see what Charles Knight, uh, when he’s a… Love it. Terrorist. I’ve got a lot of opinions on terrorism as a method of warfare. So yeah, I guess I’m keeping busy.

48:08
Well, enjoy your travels. And like I said, we’ll see you soon. And we’ll see all of you soon here on the Daniela Cambone show. Thank you always for watching.