Doug discusses why it's difficult today to be an investor with all the government economic distortion and mis-allocation of capital.
However, in contrast a speculator can do well in this environment. He says, "Being a speculator should not be confused with being a trader."
Doug is very bullish on gold at these levels because the crisis's we are facing is very serious. The dollar is still the worlds reserve currency and most trade is still done with it.
Most central banks hold dollars and it is the official currency of several countries and the defacto currency of many others. When the dollar collapses it will have profound international consequences.
There aren't many assets today that are cheap and the stock markets are very overpriced.
Bond markets are in a hyper bubble with interest rates approaching zero. Commodities are one of the few things that are cheap today. Doug is of the opinion that gold will be used once again as day to day money.
It's a great speculation and when the world loses confidence in fiat what else will be trusted. Doug outlines the dangers of the gold mining business and the risks involved.
However, today most mining equities are undervalued and therefore he remains very bullish.
Doug feels that bitcoin has excellent characteristics as money and also the utility of being able to transfer value without permission.
Lastly, Doug discusses his novel series with his latest book being Assassin, being third in the series.
- Source, Palisade Radio