Summary of Doug Casey's Take [ep.#250] Why Isn't Biden Trying to Protect The Petrodollar? Plus, lots of Q&A

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00:00:00 - 00:55:00

In this YouTube video, Doug Casey covers a range of topics including the recent indictment of former President Trump, the challenges of writing near-term science fiction, the potential consequences of speaking truth to power, and the benefits of investing in gold, silver, and stocks in the oil and resources fields. He also shares his thoughts on the book "The 48 Laws of Power," the corrupt nature of recent presidents, and the economic situation in Mongolia. Additionally, Casey discusses the impact of recent deals being made between countries outside of the US and the potential impact on the petrodollar, and the allocation of percentages for stocks in a portfolio.

  • 00:00:00 In this section, Doug Casey discusses how the recent indictment of former President Trump affects the US dollar, stating that it does not hurt the dollar per se, but rather the perception of the US as a free country. He also expresses his concern about the country's devolution into just another "crappy nation state." He then discusses his novels with his friend John Hunt and mentions that four more novels are planned, but it's becoming challenging to write near-term science fiction due to rapidly changing technological realities and political situations in the world.
  • 00:05:00 This section of the video features a discussion about the challenges of projecting a series of books into the future and how the pandemic affected the writing process. The conversation moves on to the topic of undercover agents and how prevalent they may be among members of private files. The possibility of AI bots being used as undercover agents is brought up, with a humorous mention of breeding poisonous tomatoes to poison government agents. The conversation ends with a reflection on the state of the world and the potential for government overreach.
  • 00:10:00 In this section, host Louis James and Doug Casey discuss the potential consequences of speaking truth to power and why one might desire to live in another location if they produce physical goods. They also touch on the nature of truth and why the state is the greatest danger to humanity. Doug points out that almost every country in the world is heading in the same direction, and it is a bad direction.
  • 00:15:00 In this section, Doug Casey talks about his friend who recently visited the Falkland Islands and how it could be a potential spot for people looking for a unique place to live. Despite its unfavorable weather conditions, the place is booming, with significant investments since the Falklands War. There are vast oil deposits, and the locals tend to be self-sufficient, surprisingly intellectual, and well-read. The area would undoubtedly have some limitations, but as per Casey's recommendation, it's worth checking out.
  • 00:20:00 not particularly interested in discussing travel plans or book recommendations, but in this section, Doug Casey suggests that holding a large cash position in a bank is questionable, and instead recommends investing in gold and silver coins or stocks in the oil and resources fields, which are currently yielding 8-10% in dividends and are expected to go up in value. He also mentions that being a Mormon missionary provides Joel Scouse with knowledge of Spanish but doubts his expertise in foreign countries and disagrees with some of his assessments in his book, Strategic Relocation. Lastly, Doug Casey is not familiar with Robert Greene and his books, so he cannot give an opinion on them.
  • 00:25:00 In this section, Doug Casey shares his thoughts on the book "The 48 Laws of Power" and its historical references but admits to finding it difficult to read. He also discusses his plans to write a book on his theory of education and designing a school curriculum. Doug also responds to a viewer's question on where the US and the West went wrong and pinpoints the creation of the Federal Reserve and income tax in 1913 as a significant turning point in the cultural decline. He also criticizes the US's involvement in World War I and the Roosevelt and Johnson regimes.
  • 00:30:00 In this section of the video, Doug Casey discusses his opinion on former president Lyndon B. Johnson and the corrupt nature of recent presidents. He also addresses a question about what individuals can do when governments adopt their own versions of the restrict act and the impending electronic surveillance that comes with it. Casey suggests that opting out of certain conveniences of life may be the only option individuals have and that they must come to terms with a new reality of a changing system. He also mentions private flying as an alternative for those who can afford it.
  • 00:35:00 In this section, Doug Casey dismisses market commentator Harry Dent's prediction that gold will decline to $1000 before rising. He mentions that he doesn't know much about Dent and his opinions, but anything is possible. However, Casey deems this scenario highly unlikely. Casey also critiques the newsletter business, stating that predictions may be entertaining but not always reliable. The conversation then shifts to whether a smart and educated young person should focus on developing countries or Western nations to create wealth. Casey suggests that if you want to become wealthy, moving to a richer country is the way to go, while developing countries make sense if you're already wealthy and looking to build a business for the long term.
  • 00:40:00 In this section, Doug Casey discusses the strategy of investing in a backward third-world country to expand capital. He also explains why the establishment hates Trump, citing his cultural conservatism and nationalism as reasons. Additionally, Casey shares his experience in Mongolia, where he traveled for a mining trip 20 years ago and found it interesting but lacking in infrastructure. He advises caution in investing in the country and suggests waiting for political stability and improved infrastructure.
  • 00:45:00 In this section, Doug Casey discusses the economic situation in Mongolia, where their main source of income is selling coal and copper. He also talks about the formation of parallel societies and how they could potentially solve problems. While he is not optimistic about resisting socialist leaders that use fascist tactics, he believes opting out of their systems is the better approach. In the end, he agrees that fighting them is counterproductive and that a more harmonious approach, like Aikido rather than karate, would be more beneficial.
  • 00:50:00 In this section, the speaker discusses recent deals being made between countries outside of the US and the potential impact on the petrodollar. They note that the US economy has become financialized and is no longer manufacturing much, making the country vulnerable if foreigners decide to dump dollars. They also question why the US isn't taking a more vocal stance against Saudi Arabia violating the petrodollar agreement and allowing other countries to make deals outside of the US. The lack of opposition is surprising since the dollar is the only reason the American Empire has existed, and the petrodollar is its essence.
  • 00:55:00 In this section, Doug Casey discusses how the requirement of American boats and crews for landing in American ports is hurting the country's economy. He also talks about the allocation of percentages for stocks in a portfolio and states that people must use their own judgment because everyone is looking for a hot stock tip, but it is not a wise idea to go after something one doesn't understand. Doug gives a framework that people can use to have a well-reasoned approach to their investment decisions, where one considers the risk associated with the stock and the reasons for allocating more capital to a stock. The conversation ends with a mention that Doug and his interviewer plan to discuss Ray Kurzweil and the dystopian version of transhumanism and the singularity next week.

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