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Doug Casey Video Interview: 'There will be Panic into Gold;' Also some blunt speech about central planning.

There will be Panic into Gold: Doug Casey; also with some blunt speech about central planning.

http://www.kitco.com/KitcoNewsVideo/index.html?v=12-10-26%20...



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Hi, Paul, thanks for your

Hi, Paul, thanks for your reply. You said let markets decide what is money. Question for you: What is the market?

I know what I think the market is. Just want to know what you think it is so when I read you saying "market," I know what market refers to. To me, the market is the individual.

You said there's nothing wrong thinking metal(s) can play a role (meaning, be the currency?) in transactions. Sure, they can be currency. But where will the initiation of using a metal come from, which is to ask, what is the market?

You brought up that in history metal(s) was currency and because so, metal can -- or should? -- be used today. Again, as I said in the previous paragraph, yes, it can be currency. But SHOULD it?

Today's world is tremendously different than the world was 200 years ago and of course 2,000 years ago, the time when "you" and "I" couldn't be in communication with each other if we were on opposite sides of Earth. Now that communication occurs across the world and instantly, all I can conclude in currency is that if you and I use a thing you and I refer to as currency whose value is applied by something other than you and me, you and I are in b-i-g trouble. So why risk subjecting thy self? I don't want communication transforming into binding, tethering.

Further, and to ponder, because I know you didn't say a word I'm about to use, this question about the past necessitating the present and, dangerous, the future: Why have it be so? Why care about yesterday to the point of it necessitating today? Why should people X years ago in Y environment limit people who weren't in Y environment and, more so, limit people who came after those people, the people of X years ago in Y environment? To engage in excess argumentation or if not that then to emphasize my point and make it without designations such as letters: Say X is 10 (years ago), why should people who used a thing 1,000 years ago mandate or even influence what you and I, people of the present, do in our transactions?

Paul, I agree with the statement that nothing's wrong thinking a past subjective issue necessitates a present and/or future subjective issue; although, that thinking is on entrapment's course. But I disagree with you IF you say there's nothing wrong implementing the past that is an issue personal that was made social. Why socialize a personal issue? To socialize a personal issue is to entrap.

I'm for bartering, where applying value/worth of items comes from the individuals transacting with each other. I'm for it for individuals and, lol, the government. Let our congress people try THAT! lol

Thanks for your reply, Paul. I'll see you around on our little thread here or elsewhere on the DP. :)

School's fine. Just don't let it get in the way of thinking. -Me

Study nature, not books. -Walton Forest Dutton, MD, in his 1916 book whose subject is origin (therefore what all healing methods involve and count on), simple and powerful.

ecorob's picture

This guy is RIGHT!

From A to Z I tend to agree with everything he says.

Bump for knowledge.

Going to his website to see how he feels about silver.

Is anyone else having an "Atlas Shrugged" moment?

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Me loves some Doug Casey in

Me loves some Doug Casey in the morning bump

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

SteveMT's picture

Doug Casey says it the right way.

"Gold is the only financial asset that is not someone else's simultaneous liability."

Silver functions the same way, also.

This is the only

thing Doug Casey is wrong about in the interview.

I don't think he knows about Bitcoin a financial asset also not created based on debt.

Wait!

From what I read below, this is going to take someone who has some knowledge of computers to engineer these things? So we don't buy them, we build them?

Then I'm in trouble, having VERY little knowledge of computers. I can't even figure out how to download photos and send them to people...

Yes, you

can buy and use them without much computer knowledge. I recommend reading the following to get to understand them:

http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-in...

IMHO, the problem with bitcoin...

... Is that it has no other uses besides being, well, a bitcoin!

Yes, you put a lot of computing gear into "minting" them, and yes, they might provide a bit of anonymity when used as digital equivalent of cash, especially in shadower parts of the 'Net, but, sorry, I personally can not think of them as "the real thing"... YMMV...

Spoken as a computer geek with a bit of supercomputing/crypto bent, who still enjoys picking up some physical silver whenever I can, and gold when I really can afford a coin! ;)

Paul B.

It wasn't a problem with gold..

The same objection you raise, a farmer could have raised 5000 years ago when gold wasn't used for anything. Yes people liked to wear it but people also like to own digital commodities in online games.

In both cases, gold 5000 or 6000 years ago and bitcoins today the primary use for both is the transfer and store of value preceded by a tiny consistent demand as a collectible commodity.

Indeed just as people liked to wear gold jewellery, some people liked to own some scarce digital cryptocurrency. In fact one of the first recorded transactions was 2 pizzas for 10k BTC, and although I'm speculating here, it's quite easy to imagine, that the person who sold those two pizzas didn't think those 10k BTC he received for them were money or would keep their value, he most likely just liked the concept and wanted to own some for the novelty sake, just like people like to own bracelets and rings and necklaces and whatnot.

And you might even be right that there is no base demand for bitcoins, although it's possible to make the case that until people will have the need to store or transfer value without being exposed to counterparty risk, censorship, confiscation risk and all the other risks associated with wealth, Bitcoin will have a demand. But even if it didn't have a base demand, the same could have been thought about gold 5000 years ago, when people didn't have a clue about alchemy and could have have easily thought people will discover some other material to prefer and use for jewellery.

The important part in both cases was that small short term consistent demand that established a supply/demand market for a particular commodity. Coupled with all the great properties both commodities have to function in the role of money, that is the only reason people started using them as such, not the base demand we can identify today and we have no way of knowing if it will last in either case.

Actually

the biggest problem with Bitcoin is people misunderstand it! :)

I did originally too. People either think it's a Ponzi scheme, or a waste of (computing) electricity, like you do, or have some other problem/misconception with them. However, the more you look into them the more you realize they are absolutely revolutionary and amazing. They are the real deal, sort of like Ron Paul.

If you're a computer geek you especially should look into them, as that's what largely is building out the community at this point. Others don't really understand them. As you point out there is not much use for them in an economic sense at this point, but what you have to understand is that can change, and I think WILL change. Right now bitcoins are being distributed into circulation and more places accept them every day. When the dollar crashes IMO bitcoin use will skyrocket because like gold they are a different form of currency immune from dollars, yet they can be traded easily and online. A great place to start learning more is written by a prominent Bitcoiner and libertarian here:

http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-in...

Thanks for the link!

Yes, I did read, and it did change my perception, maybe I'll "diversify" ;)

Paul B.

Didn't He Also Say

"If you like gold, you'll love silver?" And, is silver not someone else's liability?

What do you think? http://consequeries.com/

I believe he is speaking of

I believe he is speaking of physical gold/ physical silver.

Gold. Guns. Girls.

Doug is quickly becoming one of my favorites

Doug Casey and Stefan Molyneux. They have changed my world view. It's amazing how many people Ron Paul "Woke Up" and how many of those same people have gravitated toward anarchy and atheism.

It's good to be alive at such an exciting time in history.

I highly doubt

Ron Paul would be thrilled that anyone is saying he woke them up to atheism, since he is a born-again Believer in Christ. Ron Paul says, "Let me be very clear here: I have accepted Jesus Christ as my personal Saviour and endeavor every day to follow Him in all I do and in every position I advocate." He furthermore says if we let people make their own choices about their eternity, and what they put into their minds, why not what they put into their bodies?

Although he would never tell you what you have to believe, to attribute atheism to the consistent Christian testimony of Ron Paul is extremely far-fetched.

As is anarchy, which quickly collapses because everyone has to defend their own property and can never leave it, etc. Anarchy is a transition government that usually ends right back at an oligarchy of a few very powerful men ruling with a front-man as spokesman. That is why Ron Paul is in favor of a Republic, which is what our Founding Fathers gave us - very limited law with checks and balances of the three branches of government (which they are insanely abusing right now) protecting our lives, liberty and pursuit of happiness, infringing on no one else's right to the same. This system is the best and longest form of government for freedom - better even than anarchy and definitely better than democracy, majority (half plus one) deciding what's best for you and me.

On a personal note, keep in mind, "God doesn't believe in atheists: proof that the atheist doesn't exist." vs. "I don't believe there is a God, therefore, He doesn't exist."

I'd just caution you in as calm a fashion as possible (if you think its exciting to be an atheist) that if you're wrong and there is a God of the Bible as history and archaeology and science and space continually prove, that also means that according to the Bible there are only two places to spend eternity and that the decision is made on this earth before death (and some people die VERY suddenly)

God is holy and a just Judge (not corrupt as we experience) and "Shall not the Judge of all the earth do right?" Genesis 18:25 The Great White Throne Judgement will determine, ("not by works of righteousness which we have done, but according to His mercy He saved us" Titus 3:5) if a person accepted God's free gift of Salvation or rejected it in his previous life..."And I saw a great white throne, and him that sat on it, from whose face the earth and the heaven fled away; and there was found no place for them. And I saw the dead, small and great, stand before God; and the books were opened: and another book was opened, which is the book of life:...and whosoever was not found written in the book of life was cast into the lake of fire." excerpts from Revelation 20:11-15

Heaven, where gold is used as asphalt (speaking of gold), and jewels as foundation layers to the mansions, where there is no evil government, only peace and love because the God of love and holiness indwells the entire space...

or the alternative prepared for the Devil and his angels - Hell, a lake of fire and utter darkness (black fire is the hottest fire known to man and produces no light) and pure evil and wailing. I would assume the people probably also have continuous nightmares of not seizing the best and most important opportunity of all time and remember the time or times in their life they had to consider eternity and their sinful state and each time that they rejected the Christ who died a torturous death on the cross to save them. He paid the price for you to go free into an eternity far more wonderful than Atlantis could ever be, to save you, go213mph, and me. But we have to repent of our sin and believe in Him and depend completely on Him for our salvation.

I don't know if you have access to the books of John and Romans in the New Testament of the Bible, but please read for yourself. There is nothing so important than deciding the matter of your eternity. It's interesting how people don't like too many overcast days in a row without sun (what about utter darkness without end?) or a bad night of bothersome dreams (what about a continuous thought process of the same) or ever having to mark their pain when going to a doctor at a 10, "the worst pain possible" (what about a 100 where every nerve in your body is in agony from being burned alive without end?) or when we had heat spells this summer and water was the most valuable commodity at that point (but in hell, not one drop of water on a sizzling tongue) or how people say they'd give their life for a loved one, and yet that very loved one is also in just as much agony somewhere in hell too (if they did not accept Christ as Savior).

Hell is so tragic, its hard to fathom how many people think they'll party with their friends in hell. In Indiana where I grew up a group of partying teenagers were in a car accident and the car was on fire and the doors were sealed from the heat, and no one could get out, but they were very much alive and screaming for people to break the windows and throw rocks at their heads to put them out of their misery. They all perished in the flames, burned alive. There was absolutely no partying. The incredible sad thing that brings tears to my eyes is that that if they had not accepted Christ before they died, was that their gruesome death was mild compared to what they would experience for an eternity. Even though I don't know you, I don't want that for you.

Forgive my boldness, but I really want the best for you - God's best and He already paid that painful price for your sin so you could go free. "For God so loved the world that He gave His only begotten Son; that whosoever BELIEVETH in Him, should not perish [in hell] but have everlasting life [in Heaven]." (John 3:16)

We on the Daily Paul are pretty honest with each other and we think and we prepare for our earthly future. Even if we live to be 100, it will be but one breath in an eternity without end. Therefore, being prepared for eternity by repenting and believing on Christ should be the greatest priority of each an every one of us.

Luv this guy

"finger on pulse" comes to mind.

On KITCO?!

Interesting. "The real world is still here."
Me and my chickens - as real as it gets. lol!

Love or fear? Choose again with every breath.