Saturday, July 13, 2013

Doug Casey: You MUST get Your Assets outside of the U.S.

Doug Casey: You MUST get assets outside of the U.S.

Doug Casey, the founder and chairman of Casey Research and the author of a new book called Totally Incorrect. They discuss the current state of global finance and the chances of an upcoming paper money collapse.

Casey points out that the recovery after the 2008 financial crisis is just an illusion created by central bank money printing which will ultimately lead to very high inflation once bank lending starts to pick up again. Both men discuss what will happen when all the US dollars currently held overseas are repatriated as foreigners lose confidence in the greenback. They also speculate about what Keynesians might be thinking at the moment, and analyze how non-western central banks are beginning to behave with regards to gold.