I suppose most of our listeners know that Javier Malay, who was elected president
four or five months ago, is a declared anarcho capitalist. In other words,
he's a very hardline libertarian. And he was elected making a very big
deal out of the fact that he wants to get rid of almost all the
government, well the whole thing, frankly. But and he won by a
huge majority. Not only by a huge majority, but weighted towards the young
people in the country. So what's happening in Argentina now is a very big
deal. You're listening to Carrie let'sa's Financial Survival Network where you get valuable information
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And welcome you are listening to and watching the Financial Survival Network. I'm
your host. Carry Let's old friend of the show is back with us now
from points down South, Doug Casey. Doug been talking to you now since
twenty eleven when I started my podcast, and you've got a podcast now on
the iTunes and hey, you joed YouTube and on iTunes. I've seen it
there and it's great to have you back on the show. Hey, want
to get your perspective on the revolution that's taking place in Argentina and whether whether
it's hope for America or not that we can somehow reverse our course. Well,
I spend a lot of time in Argentina every year. Although I'm back
across the Mighty Plate River and I'm in Uruguay at the moment. I've got
a farm here and it's very nice to be on the farm as opposed in
the city. But what's happening in Argentina is of world historic importance. It's
a very very big deal. I suppose most of our listeners know that Javier
Maulay, who was elected president four or five months ago, is a declared
anarcho capitalist. In other words, he's a very hardline libertarian, and he
was elected making a very big deal out of the fact that he wants to
get rid of almost all the government, well the whole thing, frankly,
and he won by a huge majority. Not only by a huge majority,
but weighted towards the young people in the country. So what's happening in Argentina
now is a very big deal. It's world historic importance, it's unique.
And just a few more words on this is that what do you hear about
Malay in the popular press is almost entirely negative because the press is captured.
It's populated all over the world by hardcore leftists. So if there's anything that
they can misinterpret or anything they can say that's nasty about Malay, they'll do
so. But buy, he's a great guy. Hey, so how did
this happen? Because all right, let's assume that there really is a ruling
cabal in the world, a conspiracy, whether it's illuminati, whatever you want
to call them, let's say that, assume that they run the world.
Okay, how did they let this guy slip in through the cracks? Well,
I'm not sure that there really is a cabal that's able to run the
whole world, although I'm sure there's some people that try. But what happened.
Look, Argentina one hundred years ago was one of the three or four
most prosperous in the world, and how could they have blowners? It's the
seventh largest country of the world, doesn't have a large population, only forty
maybe forty five million people, the best state. Definitely the best steak in
the world, right, some of the best steak. This country is an
agricultural powerhouse. It's just full of hows and wine and the best wine,
right of the best wine. And No, it's absolutely it's a great place
to live. It really is. I mean, I've been to one hundred
and fifty five countries or so, and I've lived in ten, and Argentina
is absolutely one of my favorites. It's why I came down here. Well,
the first time I came down here was when about nineteen eighty, so
a long time. But I basically to moved down here in two thousand and
seven and it's treated me very well. Bought a lot of real estate,
and incidentally it says we're basically a financial show here. I've got to point
out that Argentina still has fantastic bargains in property. Oh I'm seriously going to
come down and look. Oh, no, you want bleaded values. They're
tremendous. Like the my apartment in ba I bought it in two thousand and
seven. It's five thousand square feet. It's a two story penthouse in a
great building with only six other five other apartments, and it's in the best
part of town. And at that time I paid nine hundred and fifty thousand
dollars for it. If I was going to replace an apartment at that time
on the Upper East Side of New York, which is the equivalent where I
am in BA, it would have cost twenty million or more or more.
Now today prices are in flux because of the changes that Millie is making,
and of course everything's gone higher with the inflation of the dollar. I mean,
the dollar is worth half what it was back in two thousand and seven.
But I don't know. Still, what I could get for that place
would be less than ten percent of what I pay if I wanted to replace
it on the Upper East Side of New York. And I think an argument
can be made that at some point that apartment in Buenos Aires will be worth
more than it's equivalent in New York. All right, So that's the way
things are going. Somebody like me who lives in Florida don't want to live
where in the midst of the big metropolis, kind of like smaller cities but
like the water where would be a good place for me to look, well,
the water, well, we think about the water down in Argentina.
We really think in terms of going across the Plate River. It's a very
wide, wet river, the one hundred mile wide mouse as it goes into
the ocean. And you might want to look at Uruguay. And Uruguay is
more like Argentina than Argentina is in many ways. But well, things are
more expensive here in Uruguay. But let's say you want to you don't want
to be a real farmer, you just want to have a big backyard.
Yeah, twenty thirty acres, that type of thing, so that you're not
chocolate block with the neighbors, nice house on a river or close to the
beach, garret Oruguay. And maybe a million and a half dollars. Interesting,
Well, that's certainly a bargain compared to what's going on here. So
let's talk about the US. Do you think Trump can learn from his mistakes
and if he happens to become president number forty seven, and I kind of
see the parallels with Grover Cleveland, do you think he could go to the
libertarian route like Milee did. Do you think you think he's just basically got
nothing to lose and just goes for it. Yeah, that's a really good
question. Carry the problem with Trump. I wrote an article about him for
internationalmand dot com, which is week my blog. It's a daily blog where
I analyzed the good things and the bad things about Trump and the worst thing
about Trump. The problem I have with Trump is that he doesn't have any
philosophical core. Back then, in twenty twelve, when he was first talking
about running for president, he said that I could run either as a Democrat
or a Republican, which you know doesn't worry. I'm not crazy about either
the Democrats or in the Republicans. To be honest, I'm a libertarian.
I'm an anarcho capitalist like Melaias, and I could tell you my relation to
me lay that in that regard. But getting back to Trump, oh God,
not having a philosophical core is a common sensical guy. He does have
a real background in business. He's learned who his enemies are the last ten
years. That's that's a plus. I don't think he'll surround himself with the
kind of incompetence and scorpion and snakes that he did when he was elected in
twenty sixteen. So the problem is carry. I don't think that even though
we he'll I think he'll win the popular election for lots of reasons, I'm
not sure that he'll be installed as the president. I think that the Democrats
will find a way to keep themselves in office. I know that's a shocking
thing to say, but I'll tell you why I said. It's set all
over across the US. The Democrats are trying to go to mail in voting,
which makes it impossible to know who's really send me in that odd that's
a big problem. We have lots of electronic voting machines, and I know
the Republicans are going to be on the lookout for a computer fraud. With
the electronic voting machines, they're still a problem. I'm a great believer in
paper voting, as primitive as that may be. And the people that are
in charge of Washington now are actually Jacobins. They're the same types that ran
France after the revolution in seventeen eighty nine. They have the same views,
the same psychology, the same philosophy, and now that they're in office,
and they've been cementing themselves in office by hiring more ultra lefties, they're not
going to want to let go. So the only thing I'm sure about,
and I'm pretty sure about this, is that come November, we're going to
have something like chaos in the US. It's I mean, I mean,
you tell me you're in Florida right now. It seems to me the red
people, the Trumpers or the Republicans, and the blue people, the Democrats,
they hate each other. They cannot get along. They can't even have
a civil conversation once they stop talking about the weather in baseball, and forget
about the weather, because that's another thing, global warming. You know,
to some extent that's true. But you know, I think it hates more
on the blue side than the red. We don't like I don't consider myself
red on libertarian, but shall we say the non interventionalist side. You know,
it's just the hey, have your beliefs. Your beliefs will be proven
to be false and then you're gonna have to either stick with your your false
beliefs or you'll have to change them. Right. But it hasn't really happened
yet, has it. But I see hope. I see hope where I
see blacks leaving the Democrat plantation as they call it, not my term,
theirs, and it's it's a trend that's happening. And but it's you liken
the left to a wounded animal. This could well be their first opening wound
and that's when they get extremely dangerous. Right, Yeah, it's true.
I think you're right about a lot of blacks getting off the plantation. Like
look at Tyrus, who I Chris distarted on the Greg Gutfel Show. I
mean, I mean he's a solid thinker. I mean, yeah, yeah,
a good guy generally. And there are a lot of guys like Kim
now that are coming across that are on our side of the barricades. But
you know, these the Democrats, they really are full of full of hate,
and they've captured lots of areas of the US. They've captured academia for
sure, it's evidenced by what's going on, and all the colleges, all
the professors are Marxists and hardcore leftists. I mean, if you're not,
you can't survive in an atmosphere like there is in the big Ivy League school
certainly. So they've captured that. They've captured Hollywood, in the entertainment industry,
they control all levels of government, Basically, it's not just academia.
They've captured the school system all the way down to grade school. In the
media, the media totally indoctrinating people. So I'm not optimistic. I'm afraid
that even though the Republicans will win the vote, that the Democrats will stay
installed in office and they I wouldn't put it past them to get the US
really involved with this war in the Ukraine, or maybe something with Israel and
Gaza Ama says Bola, god knows what, or some other place, because
it's been said that war is the health of the state, and when things
are going badly domestically, it's helpful to distract people with a foreign enemy.
So if I was in Vegas, we were in Vegas and I had to
place a bet on the winner. I hate to say it, but I
think the Democrats are going to winn November. Yeah, well, it's not
who votes, it's who counts the votes, as we say, so that's
right. So gold, gold, and silver. You and I have been
talking about it since we started speaking, since we started our dialogue here and
now twenty four hundred plus, I haven't even looked at it. Today.
I hit twenty four fifties a day, I think, yeah, And so
what's in Silver's thirty two bucks? And no end in sight here? Right?
I don't think so, because it's true that gold has hit a new
nominal high and dollars, but in real terms, no, not really,
because it hit eight hundred and fifty dollars houns back in nineteen eighty. But
the dollar today is worth a third. Well, who depends on how much
we trust the super But who knows? Now? Who really knows? I
trust? I trust the figures. The US government turns out only marginally more
when I trusted those The Argentine government was turning out one though. For China,
I think in order to get back to its previous high, oh,
three thousands, three thousand, at least three thousand. But the world's situation
is so much more serious now and the amount of money creation is so much
more serious now and it was back then that and there's so many more dollars
that have been exported over the years. I mean, many trillions dollars are
outside the US, and they're hot potatoes. No, I mean gold could
go hyperbolic much higher. So yeah, I'm a gold bull still. We
were gold bulls then, but now the game is really a foot. Yeah,
the game is afoot and where it stops nobody knows, is hey,
just like they started with inflation, it's transitory, now it's sticky. The
next step is it's permanent. Right, Well, it is permanent. And
the reason is it is because the cause of inflation. And this bears repating
carry. I mean, we say it all the time. Yep. It's
a monetary phenomenon. It's not the fault of the oil companies or the farmers,
or it's the fault of the people printing up money. And the government
is spending money like a drunken saler, and they need to be insult drunken
sellers like that. You're right, drunken salors are fun, and these creeps
in the government are fun at all. But they've got to print up a
couple trillion dollars a year in order to fund the government's spending. And that's
exactly what they're doing. When it flows into the economy, and it flows
first in the corporations that are wired with the government, right, they are
the initial beneficiaries of the banks, the hedge funds, all of them,
right, yep, they get it first, and that bulls. The stock
market higher is a benefit, and all that money once it gets into society,
well it's got to go someplace, So people hide in stocks. So
I'm not making a prediction for a stock market collapse a bond market collapse.
Yes, interest rates are going higher, but stocks can keep going higher for
the reason. But it's going to be a disaster for the average guy and
for the general economy regardless of what happens to the price of stocks in general.
Although I'm not long stocks, I'm basically long resource stocks at this point,
companies that mine gold and copper and silvering uranium, and all the rest
of it. Oil energy stocks too, very much. Energy is still very
cheap. From a historical point of view. If we look at the real
bull market in energy stocks, it was back in nineteen eighty that's a long
time ago already, and at that time, energy and energy related stocks were
about almost twenty five percent of the S and P five hundred. Today,
even after they've come up a bit recently, I think we're one looking around
five percent. Because the big fund managers, the black Rocks, the Goldman's,
the fidelities, they're very averse to owning energy stocks. Forget about mining
stocks, that's totally they can't even talk about them. But even oil stocks,
they're reversed only because of this carbon hysteria. We've got to we've got
to go green. We can't rape the earth, we can't mine stuff,
can't drill oil or gas or anything like that. And the people that run
energy stocks, and generally just because of their backgrounds, tend to be non
DEI, non ESG people. So no, these big institutions which control the
markets are averse to buying oil and gas stocks, which means they're very cheap.
I mean, there are no oil and gas stocks that are yielding eight
ten or more in current dividends, and I think whil's going higher, and
so those natural gas and those dividends are going up. So yeah, I
own a lot of those two. Yeah, yep, I'm inclined to agree
with you. So there's still opportunity out there, but we got chaos ahead.
When we have this conversation in a year, what do you think will
have happened. Well, the cheapest area of the market is still mining stocks.
I mean, oil and gas stocks are very cheap, but what's really
cheap are the miners. And I think that since there's such a teeny weedy
portion of the market, they're just a rounding error. At this point,
they're not they're not even they're not even small caps. They're not even micro
caps. They're nanocaps, pyco caps. At some point the market is going
to flow back into them, at least if you want copper. So that
when you swiped the flip the switch on on the wall, or your light
goes on, or you drive your electric cars. Questionable whether you want one,
we're going to talk about two. But that works. They're very,
very cheap at this point, and so I'm loaded up with them. I
like things that have low market caps because because they tend to be volatile,
and mining itself is a crappy nineteenth century to two train industry. So you
know, it's a business. It's not a great business. You know.
They say, hey, it's like finding a gold mine. Oh no,
that will ruin your life if you find it. Find a gold mine.
For reasons that I can, I'm happy to explain what on the bright side.
On the bright side, these the market caps of these stocks are so
small that you just have to blow on them and they double and the whole
group shocking is just to say you could go ten to one over the next
year or two. It's got a prediction, but it's a real possibility and
it'll happen eventually. Yeah, I wouldn't doubt it. I think I think
you're right. I think that's where it's at, and that's where I've kind
of staked by future. Hey Doug, it's been great having you on.
Just tell us where we find you again these days. Well, we have
a I do an article once a week and we have other great guys that
do articles at internationalman dot com. It's free, great articles there on all
kinds of stuff. And my podcast is done Casey's take on YouTube rumble.
But I want to I've got to as an author, have to plug my
novels. Oh yes, yes, So we didn't even talk about them this
time, but we'll have you on again. Tell us the latest, well
the latest should be out the next time we talk. Got my fingers crossed.
It's called terrorist. First one was speculator, second was drug Lord.
It was a lesson because we're tracing the history of our hero, Charles Knight,
who is reforming the reputations of these unjustly besmirched occupations, good guy doing
the things, and now he's going to be used to being a terrorist.
And I love the first two and this one sounds even better if that's possible
here and Hey, in any of that, we'll put links in the show
notes to your prior books, which I believe are found on Amazon and wherever
fine books used to be sold at the and we'll put your international man link
in there as well. We appreciate as always you're coming on. If you've
got a question for Doug or myself, shoot me an email. Hey,
questions about Argentina where you think that's heading, love to hear about it and
any questions comments kl at Carrie LUTs dot com. Make sure when you go
to the site you sign up for our free newsletter. Doug, It's always
a pleasure and it's great to catch up with you, Mike warns Carrie.
Thanks for listening to Carrie Letz's Financial Survival Network, your solution to today's trying
times. For the latest, go to Financial Survivalnetwork dot com. Financial Service
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