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Friday, February 2, 2018

Doug Casey: The Coming Collapse Will be One for the Ages


Major structural problems in the U.S. economy and around the world may create headwinds for the stock markets, said best-selling author, Doug Casey. “One big problem is the central bank,” 

Casey told Kitco News on the sidelines of the Vancouver Resource Investment Conference, “they keep creating trillions and trillions of new currency units.” Casey notes that while in the 1970s, money created by the central bank went to the retail level, now it’s going into the capital markets. “It’s all paper money, it’s going to dry up and blow away, and it will, and when it does, there’s going to be a lot of unhappy campers,” Casey said. 

One catalyst for a market correction would be the bursting of stock “bubbles,” particularly in the blockchain and cannabis space, he added. More dramatic of a catalyst would be major geopolitical shocks. “We could wind up with World War Three,” Casey said, “I’m not just talking about what Trump and Kim are doing in Korea. 

There are many other things that could blow up in the world. In many ways, it’s like things were before World War One.”