And now for some more Fatal Conceits…
“Let me take this opportunity to antagonize those of our listeners that I haven’t already antagonized…”
There are some people who go out of their way to appease others, to say what they think the majority wants to hear, to mollycoddle their audience and make nice with anyone they meet so as not to ruffle any feathers.
Doug Casey is not that person. Whether on the prospect of civil war at home…
“It seems that Americans have broken into two groups; the red people and the blue people. And they don’t like each other. In fact, they actually hate each other.”
The war in eastern Europe…
“A border conflict between two sh!thole countries…”
Central banking…
“An idiotic institution which should be abolished…”
College education…
“Worthless degrees of indoctrination…”
The fate of the US Dollar as the world’s reserve currency…
“I think that half or three-quarters of the world’s countries are going to find alternatives to the dollar and the Swift payment system. And this is going to devastate America.”
Western European leaders…
“The people running these western European countries are all died-in-the-wool, dogmatic socialists; they’re nothing nobodies.”
Or discussing what he calls the “Greater Depression,” in which he expects the average American is in “for a very rude awakening”…
“You’re going to have a lot more people living in their cars and under bridges. This is serious.”
Doug doesn’t waste time mincing words.
Listen in as we discuss all of the above, including what Doug’s doing with his own money and practical ways he sees to minimize what’s coming down the pike.
We also spoke at length about Doug’s novels, the High Ground Series, which he co-writes with Dr. John Hunt. With Speculator, Drug Lord and Assassin behind them, the pair are gearing up for the next (and possibly most provocative) title: Terrorist. Catch up on the series here.
We hope you enjoy the conversation…
Cheers,
Joel Bowman
Host of the Fatal Conceits Podcast
TRANSCRIPT:
Joel Bowman
All right, welcome back listener to another episode of the Fatal Conceits podcast, the show about money, markets, mobs and manias. If you haven't already done so, please head over to our substack page. You can find us at bonnerprivateresearch.substack.com.
There you'll find hundreds of articles and everything from high finance to lowly politics, plenty of research reports, and of course more conversations just like this under the "Fatal Conceits Podcast" tab at the top of the page.
I'm delighted today to welcome to the show, I think for the first time, although we've spoken many times in private and all around the world, my friend Mr. Doug Casey. For those few of you who are not familiar with his work, Doug is the original International Man having written the book on the subject. He writes over at internationalman.com. He is also the author along with John Hunt of "The High Ground" series books including "Speculator," "Drug Lord," and "Assassin" which I hope we get to talk about in due course. And every Friday he has the "Doug Casey's Take" podcast. So, that's another avenue for Doug to vent his many opinions, and we're happy to have him on the show today. Doug, welcome to the Fatal Conceits podcast.
Doug Casey
It is a pleasure to be here with your Joel. It's unfortunately all too rare to have an intelligent conversation these days. Certainly not with the locals in any area. I think that's one of the problems that a lot of the people that listen to your podcast, and mine, have is that they don't have anybody intelligent locally to talk to, who they can disclose their philosophical and political views to without starting an argument. And I think that's where a lot of our listeners come from.
Joel Bowman
Yeah, that's a really good place to start, I think. I know that you're holed up stateside at, we'll call it an "undisclosed location" at the moment, but I'm wondering if your current experience is resonant with the last time I spent in the U.S, which was just a couple of months ago. I don't think, after having been back and forth to the United States for twenty years, and having lived there for some years in the interim period, I've experienced a more on edge kind of political climate where everybody, and this is running the gamut of the political spectrum, both on the right and the left, seemed to be just at a hair trigger on any given subject, rushing to be offended in any way possible. Is that similar to your experience at present?
Doug Casey
Yes, exactly. It seems that Americans have broken into two groups, they red people and the blue people, and they don't like each other. In fact, they actually hate each other. That rant that Biden gave on, I think it was September 1st, where he had a black background with heavy red overlay and the two Marines in the background. All of this is unprecedented for a political speech in the U.S. Especially that red and black background, which is a semi psychotic. And then his speech, which was actually mildly psychotic. By giving a speech, talking about how hateful, and awful, and unpatriotic, and dangerous the MAGA people were, who as far as I can tell, are basically just salt of the earth, middle class people that are disturbed with the direction of the U.S. But the direction of the U.S. is accelerating.
And Biden's speech was almost a declaration of civil war and it was very dangerous. Not only not the raid on Trump's house, but then the arrest and perp walking of something like 40 or 50 prominent Republicans for no reason other than they are Republicans. Lots of anecdotal stuff out there. And the hiring of 87,000 new IRS agents. The type of person that will join the IRS voluntarily is the same type that will join the Gestapo. And I am afraid that these new people are going to be used like the Gestapo. I'm sorry, I'm going on Joel, but I'm just...
Joel Bowman
No. It's very important. I think a lot of these things are kind of rattling around somewhere deep in the craniums of the general population. But I think that it's difficult to put these things to words because, as you said, the actions are so unprecedented and this comes from both sides, no doubt that there are the worst of the body politic expressed at the extremes of both ends.
Doug Casey
We are approaching genuine civil war actually. And maybe that's not as far off as we might think, because the U.S. has changed radically in my lifetime from a country where people shared a culture. They shared generally a religious orientation, certainly a language, traditions. It was actually a real country. But, now the U.S. has devolved into genuinely a multicultural domestic empire where you have large numbers of migrants from a totally different culture, different language, different traditions, different everything. And yes, the U.S. has always had migrants, Italians, and Irish, and God knows what else. But, the new people are very different. And I think great numbers of them are coming for different reasons than those past immigrants did. There was no welfare in those days of past migrations. But, now migrants come here and they're immediately put on welfare.
So, it's actually changing the character of the U.S. where traditions are being washed away, and where individuals are actually all living in bubbles where they're not connected with other warm-blooded people, they're connected with their electronic devices. And there's a recent book that came out by a Belgian professor at the University of Ghent, and I'm normally suspicious of European professors. They're all hardcore leftists, all Marxist. This guy is not, his name is Mattias Desmet. And he points out that we're getting a psychological mass formation, especially in the U.S. but around the world where people, when everything's washed away and people aren't believing in things they used to believe in, they're looking for something new to believe in. And this is very dangerous.
This is how the great cultural revolution of China formed similar circumstances. And it could happen here in the U.S. So, I'm quite pessimistic in many ways. And especially since if the U.S, and what's left of the U.S. Constitution is washed away, which it is. It's being interpreted out of existence over many years. There will be nothing left in the world, no place you can run and hide, in other words. This is happening worldwide. Really disturbing.
Joel Bowman
And you think it does seem, at least since you and I have spoken down here in Argentina about this at great length over many an unhurried lunch, but it does seem in the past few years that this trend is accelerating. Is that kind of your read from the ground there in the U.S?
Doug Casey
No question about it, because whether or not the Democrats stole the election in 2020 - and I think they did. I don't have any proof of that personally. I don't monitor these things boots on the ground. But yes, I think they did. Although, they accused the Trumpers of having stolen it in 2016 also - But, let's admit it, the people that control the apparatus of the state now in Washington DC, these people are exactly the same psychological profile with the same political beliefs as the Jacobins were in 1793. They're the same damned people, just updated, or for that matter, the Bolsheviks in 1917, which means they're radical, they want to overturn the basic structure of society.
They're really very dangerous. And now that they've been in control for two years, they're doing the best they can to overturn traditional America. And, I think, that come to the elections in November, I think they're going to do anything they can to stay in power and not let the Republicans, which are pretty worthless, but they're much better than the Democrats, take control. And so, I'm actually anxious to get back to peaceful and friendly Uruguay and Argentina before the elections. Because, this isn't a prediction, but I think there's a distinct possibility that things could get wild and wooly in this country real quickly around the time of the elections early November.
Joel Bowman
Yeah. Before we go take a little look around the world at obviously many inflection points and flash points of geopolitical unrest that I'd like to get your take on. It's obviously no secret and you've written extensively about the rise decline of empire. Most recently, I think I saw an article of yours comparing the decline of the American empire to that of the Roman Empire for many reasons, which could probably fill a whole other discussion.
But, I'm wondering, if you think that we are in that sort of terminal inexorable decay, and if we're very close to that, what people who are living in the United States, who don't necessarily want to move down to Uruguay where you are, or Argentina, or some other part of the world for any one of a million reasons, they want to stay in the United States, they want to stay and fight for the country that they grew up with, and that they enjoy, and that they love, and to be close to their families. Are there practical things, however small though they may be, that individuals can do to kind of avoid getting caught in the crossfire if indeed the situation does deteriorate to a kind of civil war like episode in history?
Doug Casey
Yeah. What can you do today? It's kind of reminiscent of Lenin's phrase, "What is to be done?" Which is a little bit different.
Joel Bowman
The passive voice.
Doug Casey
Right, exactly. So, what should an American who's concerned at this point do? I'm of the opinion that notwithstanding, or perhaps abetted by, it could be either one, the efforts of our idiotic central bank, which should be abolished, that I think all the markets could melt down. It would be chaos if it happens, because the only thing that would remain is the debt in the country. And, of course, these fools are working now to wash away a lot of the student debt so that the people that have foolishly borrowed a lot of money to get worthless degrees and be indoctrinated. And generally they're the more leftist oriented, because they've been indoctrinated, they're going to get our free ride to go to college so that their incomes will be higher, and the average guy's got to pay for it. But, the problem is, that trillion and a half of debt out there has got to be dealt with.
And if the stock market melts down, truly melts down, and I can speculate as to how low it could go, and the bond market melts down, because I think that eventually we're going to see interest rates in the U.S. on government paper, not just at 5% or 10%. It'll go back to the levels it was in the early 1980s, 15 or 20%. At which point it'll just about correspond to inflation. So, you still won't be getting a real return on your money. But, that's where it's going to go. It's going to overthrow the financial fabric of the U.S. And that is, especially with everybody indebted the way they are, their car loans, their mortgage loans, their student loans, their consumer loans. It could be a real upset. You're going to have a lot more people living under bridges, losing their houses. This is serious.
Joel Bowman
So, I've heard people say, "Look, this happened in the seventies. We had an oil embargo in the seventies. We had the Nixon economic shocks, we had the final severing of the dollar from gold. And it was kind of off to the races since, but we also had 40 year high inflation at the time." And so, for people who map the current situation onto the seventies and arrive at the conclusion that, "It was kind of tough then, but we pulled up our breeches and we managed to model our way through it, and we came out on the other side with this big explosive growth for the next 20, 30, 40 years." What to you is different between now and then? Is it that we have now an exponentially larger debt harness that is strapping us down. And what might be done about that? Short of a jubilee and a sort of hitting the reset button, which is not something, incidentally, that people aren't talking about.
Doug Casey
Yes, they are talking about it. The big problem with debt is that, other than that some people owe it to some other people, so somebody's going to wind up unhappy if they don't get their money back. But, it's that when you have debt, it means that you're living above your means. That's what high debt means anywhere, somebody's been living above their means. Just as if you have high savings, it means that you've been producing more than you've been consuming, and you've saved the difference. That's how you get wealthy. So, debt is the mirror image of that. And the U.S. has looked good for the last 30, 40 years, because of all this debt. It's like if I went out and I borrowed a million dollars tomorrow morning, I could live really high off the hog, cars, and restaurants, and trips for the next year, or two years, or however long.
But, I'd be in a fool's paradise, because after I spent that money, the debt's still there, and my standard living is going to drop by more than it... In other words, debt brings on an artificially high standard living, but then when you pay it back, it brings back a very real lower standard living, because you've got to pay it back with interest. And, of course, the fact that it's being inflated out of existence is even worse, because the only way the bottom of society gets better is by putting aside some dollars and building capital. But, if it's being inflated away faster than you can save it, what you are is you're igniting the fuse on a time bomb. So, it's even worse than this, Joel. Think it can't get any worse. I'll tell you what's worse. It used to be the U.S. was investing all around the world, and people were investing in the U.S, but our main export in the U.S. for 40 years, more than 40 years now, has been not Boeings, and wheat, and manufacturers.
Our main export has been dollars. So, now there are tens of trillions of dollars that are outside the U.S. owned by non Americans, that don't have to own those dollars. And when they get scared enough of those dollars, they will dump them. And when they can't dump them to each other anymore at lower values, those dollars will come back to the U.S. where they'll buy stuff that Americans now own. Like titles to stocks and real estate and so forth. So, the average American is in for a very rude awakening in the next few years. Our main export is now dollars, it's paper. And we're going to have lots of foreigners that are not going to want to get stuck holding dollars, because it's the only currency that's worth holding that's liquid. And when that falls apart, this whole problem is going to go international.
Joel Bowman
Right.
Doug Casey
Am I being gloomy enough?
Joel Bowman
No.
Doug Casey
I can get more gloomy.
Joel Bowman
We can probably get gloomier. Let's broaden the horizons a little bit, segueing from debt and civil war to the internationalization of both. And as you were speaking just then about the ebb and flow of these dollars, which have been spirited off around the world to bag holders in Russia for example, or in China, or in other countries that have kept their Forex reserves, or some portion thereof, in dollars. Many of those countries are now finding themselves on the other end of dollar weaponization since the beginning of the conflict in the Eurasian steppe early in this year. Just to back up a little bit for some context, were you first of all surprised that Mr. Putin would respond contra NATO's advancement as he did? Is that your read on it? And afterwards we can get into what the relevant sanctions on Russia and its allies have wrought for days and months to come?
Doug Casey
Let me take this opportunity to antagonize those of our listeners that I haven't already antagonized by saying that if you were a martian looking at the situation today, I think you'd have to support Russia, not the Ukraine. Which is one of the world's most corrupt countries. In fact, I don't call it Ukraine, it used to always be called "The Ukraine," which means borderland. It's always been an area, it's never been a country actually, until Lenin made it a country after the Russian Revolution. But, I call it "The Ukraine," even though most people now call it Ukraine. So, what am I saying here? It's that I think it was a mistake, a real error for Putin to invade The Ukraine. It's a pity he did that. But, he was massively provoked where he almost had no alternative. What we have here is what amounts to a border war between two shithole countries.
That's what it amounts to. And this is an area of the world that's had border wars where the colors of the map on the wall have been flowing for the last 1,000 years. And this is just a continuation of that. So, there's absolutely zero reason for the U.S. or western Europe to get involved in a border war between two nothing nowhere countries. But, they can't leave well enough alone. And Putin was provoked, because after the 2014 Maidan Revolution, a Russian puppet was replaced by a U.S. puppet, and now a very aggressive and dangerous and stupid U.S. puppet in the form of Zelenskyy. People don't realize that Crimea has always been part of Russia, or always, nothing's always, but for the last 300 years has been part of Russia. And it only became part of the Ukraine when, for totally domestic political reasons, and when he was drunk, which he often was, Khrushchev gave it to the Ukrainian SSR.
Now Russia wants it back for lots of perfectly good reasons. And the average American doesn't realize that starting with 2014, the Ukrainian Army, which has been trained by NATO, attacked those two provinces, the Donbas, which are full of Russians, which seceded from the Ukraine. So yeah, Putin had plenty of reasons to attack the Ukraine, but he didn't want to destroy the country. He just wanted those two things back. It's reasonable enough, and show the Ukraine cannot become part of NATO, which was a violation of things that were agreed on before. But, this could get truly out of control at this point. It's taken on a life of its own where I think the Russians realize that we have to destroy the Ukrainian Army, and now what are the Americans going to do?
Joel Bowman
Yeah, it does seem like an escalating game of chicken, where neither a side is willing to lose face, even though both sides have probably made some regrettable errors, which they certainly wouldn't admit in their own respective, though non-respectable media outlets. The propaganda on one side and on the other side. But, were you taken aback at all by the weight of the sanctions from NATO and her allies? In particular I'm talking about the seizing of private citizens property, the weaponization of the U.S. dollar in the forms of confiscated or suspended reserves, which may eventually result in a bifurcation of the global financial payment system into SWIFT and whatever other non SWIFT entity comes to take the other side of the ledger there.
Doug Casey
These Jacobins that control the west government are really quite stupid on a basic level. Stupidity has several definitions. But, one definition is, it's not just the inability to determine the immediate and direct consequences of what you do, but the indirect and delayed consequences of what you do. And stealing the assets of Russian citizens, whether they're good guys or bad guys or not. Sure, most of the oligarch are bad guys, I suppose, but that's not an excuse if you believe in the rule of law to steal a country's assets, and that of its private citizens. This is incredibly provocative. They're just asking for trouble. And if you back the Russians into a corner, I don't know where it's going to end. And in an addition, like you said Joel, now the Chinese, and the Indians, and other countries are saying, "You know what, these Americans are totally unreliable. They're destroying their currency, their banking system is unreliable. We can't be so stupid that we have to continue you using the SWIFT system where we have to trade in dollars that all go through New York, which is dangerous."
So yeah, I think that half of the world's countries, or more, three quarters of the world's countries, are going to find alternatives to the dollar, and to the SWIFT system, and using American banks, and this is going to devastate America. Of course, just like natural gas supplies being cut off are going to devastate Europe. I don't know. Or is this natural gas going to start flowing magic? I don't think it will. I think there's going to be some cold Europeans. And, of course, natural gas is important for the manufacturer of fertilizer. And it's not just that, but it's potash and phosphorus have been cut off. And you're going to have some cold and hungry people in poor countries. This is the start of something big here. This is equivalent to the start of World War III.
Joel Bowman
Yeah, as we saw, it was food protests in the form, I think, of self immolation of a man in Tunisia that kicked off that the whole Arab spring. It's one thing to have a slight delay on your iGadget for a week, but when you can't feed your family and when the price of grains, or fertilizers, or fuel to heat your home goes beyond reach, then desperate people do desperate things. And I think that can have a kind of cascading effect.
Incidentally, I think it probably bears mentioning that there is so much nuance that really needs to be sorted through in these highly complex geopolitical questions, that I think as you started off the conversation by addressing, just seems to be beyond the general conversational capabilities of most people to have that discussion and not have their heads explode with some kind of reactionary madness.
But, it is possible to believe, for example, that Mr. Putin might be an whatever monster, whatever pejorative we choose to invoke, and also believe that the NATO powers have been provocative, and stupid, and shot themself in the foot. Those two things can coexist. It doesn't need to be one guy in the devil's horns and another riding in on a white horse...
Doug Casey
You're absolutely right, Joel. Because, the people that are running all these western European countries, they're all dyed in the wool, dogmatic socialists. They're nothing nobody's that have somehow gotten elevated to the point where they can boss around all of their countrymen. And I would actually say that if you compare what Putin has done since he took over Russia, he's reduced the national income tax rate to, what is it, 10 or 13%, about the lowest on the continent. So, that's a positive thing. He's actually done a lot of things. It's not like it's been a free market revolution in Russia, but under Putin, the place is just vastly improved and vastly better than it was in Soviet days. And is he a nice guy? I'd say he is a much more intelligent guy. And judging by what he says, he's much less duplicitous than the nothing nobodies running western Europe at this point.
Joel Bowman
And it does seem like those, nothing nobodies, as you say in on the continent, are going to be shivering this winter. You mentioned our mutual friend Rick Rule before we jumped on our recording here. And I spoke to Rick at the end of 2021, beginning of 2022. And he was absolutely adamant that energy prices would continue to rise. And this was before a single shot had been fired in the Russo Ukrainian conflict. But, he was absolutely spot on with that. And he had predicted that in the event that we had was called the "Winter Catastrophe."
It looks like now general winter is entering the fray, not only in the conflict, but is also going to be exerting his influence across the new lean, green acres of Germany and beyond. How does this play out in energy markets? And what does this say of the prescience of the political elites in Europe, and those of course who are spreading their green agenda to Australia, and across the United States, and in Canada? What does it say about either inability to predict the future, or their malice and mendacity in bringing it about such as it will undoubtedly occur this coming winter for a lot of shivering people?
Doug Casey
You're right. I think these people are both stupid, and ignorant, and evil. All three actually. Look, nothing wrong with green stuff, a windmill, or some solar. Sometimes in some places it can make sense. But, it's not the basis for mass power generation for an industrial society, at least not yet. These things should not be centrally directed by government to start with. It's not going to work, and it's going to be a total and complete disaster. If they wanted to do anything, it would be build lots of nuclear power plants. And nuclear power, even though it's been promoted as the enemy of everything, is actually the cleanest, and the cheapest, and the safest form of mass power generation by far. But, that's not happening. It'll start happening, but it's going to take years to start building these nuclear power plants. And then they'll be generation four.
We should already, or would already be, at the stage, where they're small. And by small I mean the size of a large room. Nuclear power plants are buried to be dug up 10 years later and replaced for every town in the country. But, that is not going to happen because of political reasons. So what should you do? I guess we're getting back to this subject that you brought up earlier. What should the average guy do at this point? And I think that now continues to be, even though the price of oil stocks and natural gas stocks have doubled in the last year I'd say, they're still real cheap. Why do I say that? If you go back to 1980 when oil was the big thing, 30% of the value of the S&P was oil stocks and oil related stocks. As of last year, it was only 3%.
It had dropped 90%. Now it's gone up to maybe 5% now, but they're still really cheap. And oil is much more important now than it has been in the past. And I'd throw coal and nuclear into this mix, those four things. So, I'd say that there things are still real cheap and a lot of these things have good dividend yields or low price earnings ratios. Like Petrobras, the Brazilian national oil company, selling at four times earnings last year, it kicked off a dividend of 25%. That's pretty good. That shows how cheap these things are. So, I think, people should be looking to buy these stocks. Why are they so cheap? Because the institutions are all into ESG, environmental social governence, and DIE, diversity... It's all destructive, stupid nonsense. So, BlackRock, and Vanguard, and all these big mutual funds and hedge funds, they all talk to each other, they all have the same background, they go to the same clubs, they all want to be invited to the World Economic Forum.
So, they don't own any of these oil stocks. And the oil companies have been thoroughly intimidated at this point. They're not going to invest in something in this political environment. So, oil's going to stay here and go higher. Natural gas is going to stay here and go higher. You should buy those stocks, I think. I've been doing it for years and selling... selling naked puts against them actually is what I've been doing more than anything else. So, that's one thing you should be doing for sure, investment wise. Most other stuff, even with the stock market coming down, I think we're heading for a long term bear market. I don't want to own Amazon, or Google, or any of that crap. I really don't. These are just ephemeral digits quite frankly. I like the idea of owning real stuff.
Joel Bowman
And hard to power all those ephemeral digits without real stuff burning in a furnace somewhere, keeping the lights on, keeping the heat on. Real quick-
Doug Casey
That's in the "you'll find out department."
Joel Bowman
Yeah, right. Doug, real quick, because I know we're butting up against a solid hour here, and I do appreciate your time. Before we leave, letg's get to your books, I believe you're working on your fourth. And for listeners who are not keeping abreast of the series, we have "Speculator," "Drug Lord" and "Assassin" I think was the last one if I have those in correct order. What's coming down the pipes? When do we get to "Terrorists." That's what I think everybody wants to know...
Doug Casey
Yes, "Terrorists" is the next one. And John and are getting ready to put pen to paper on it. Basically, this series of books, it's, let's say from one point of view, it's Atlas Shrugged in a more readable form, and for a new era. And it takes our hero, Charles Knight from youth, where he gets lucky on a gold mining stock in Africa and makes a million dollars, comes from nothing to this is possible with these crappy little mining stocks, which in a bull market they'll go 100 to 1, they can go a 1,000 to 1. I've personally own a couple that have gone a 1,000 to 1. Although, I didn't hold them all the way up. That would've been too good to be true.
Joel Bowman
That's a rough ride.
Doug Casey
They were very good to me. So, Charles in "Speculator" goes to Africa, gets involved in a bush war, and boy soldiers and all this type of thing, makes money has its stolen from by the government, but he keeps some and he becomes a drug lord. I'm trying to reform the reputations of unjustly besmirched occupations. And we talk about the drug industry, both the FDA type drugs and the DEA type drugs. And Charles gets into more trouble now developing a marvelous new drug that instead of confusing your mind, makes your mind clear. So, of course, they want to outlaw that. So, now he is put in jail, and after he gets out of jail, he becomes an assassin because he figures there are some people that just need killing. Now, I can't say that in a non-fiction book, but in a fiction book you can say whatever you want.
So, that was "Assassin." And that's a very good book. That's the most recent. But "Terrorist" is going to be more daring yet, because I have a lot of viewers and opinions on terrorism, after which he becomes in the next book. He becomes a war lord, where he goes back to Africa and becomes a war lord that transforms a backward shithole country into Singapore on steroids. And there are two more books after that that get really radical. But, anyway, don't fall behind. And I urge all of our listeners to call up Amazon and get those books. You'll be glad you did.
Joel Bowman
Yeah, outstanding. All right. I'll include some links to all of these books and your various other outlets, websites and podcasts. Of course, Doug, it's always a pleasure to speak with you, and I look forward to enjoying another unhurried lunch when you're back down at the other end of the Americas down here at the Fin Del Mundo, on one side other of the Rio de la Plata.
Doug Casey
I'll see you down there in less than two months. And maybe when we do this again, say next year at this time, we can see how right or wrong I've been on these things, and whether the world still exists in anything resembling its current form.
Joel Bowman
Yeah. If anything it may be a "teachable moment" as the kids say horribly these days. Okay, Doug, I look forward to talking to you again. Cheers.
Doug Casey
Thanks, Joel. You too.
Ed. Note: You can follow Doug’s YouTube channel over at Doug Casey’s Take and read his columns at International Man.
Doug Casey on America's Rude Awakening