(MENAFN- Investors Ideas)
Doug Casey Talks Cryptocurrencies, Precious Metals and Novels <>
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Of the four metals, which do you see ready for a breakout? It doesn't have to be immediately, but of the four, which one do you see?
Doug Casey: Silver is the cheapest and the most volatile of these four metals. For capital gains, I'd go for silver, but silver is only worth, what, $16 an ounce, in that area. It has pretty low unit value. It's rather inconvenient because it takes many, many, many pounds to be worth much money. Now still, as a speculation, I think it's the place to be.
Maurice Jackson: Doug, I'm not alone in conveying this, but I believe you have a crystal ball in which you can see into the future. If anyone doubts me, I would encourage you to read Mr. Casey's book entitled "Crisis Investing," written in 1979. Now, can you share with us, using this crystal ball, what has your interest at the moment in the natural resource space that speculators are not paying enough attention to that may become the next big thing?
Doug Casey: What is the next big thing? I've got to draw your attention, Maurice, one of my other books, "Crisis Investing for the Rest of the 90's," is actually a much better book, and more recent, and more sophisticated. Don't be afraid to look that one up, too.
What's out there that people aren't looking at today? I think the next 20 years could be breathtaking. I'm a fan of Ray Kurzweil's thoughts on this. He wrote a book, which I recommend everybody read, called "The Singularity is Near." Essentially, what he's saying is that Moore's Law, which basically posits the computer power doubles and costs halve every year to 18 months, it's actually underway, not just with computers and artificial intelligence, but in robotics, in virtual reality, in genetic engineering, in space exploration. In other words, this is going to be the big thing over the next generation, over the next 20 years. It's the advance of technology.
Now, I make the case that ever since biologically modern humans appeared on this planet roughly 200,000 years ago, technology has actually been advancing at the rate of Moore's Law, but not at the current acceleration of Moore's Law. In other words, when people first learned how to make fire, or use fire, say 200,000 years ago, maybe there were no further advances for another 50,000 years. Then they learned to make fire by rubbing sticks together. Then maybe it was another 50,000 years before they learned how to effectively knock flint, and then the bow and arrow, and then the this and that.
Technology has been accelerating from a very low pace, very slowly, for lots and lots of time. But since the end of the last ice age, 10,000 years ago, when agriculture developed, and cities started to develop, things moved faster and faster.
In other words, look at it this way. Suppose we're standing in a huge sports stadium. At the bottom of the sports stadium, there's a drop of water. At first, the drop of water doubles in size. There's two drops and it takes an hour. Then to double again, it only takes a half an hour the next time. To double again, to get eight drops of water, it takes 15 minutes.
Still, as observers, we wouldn't notice it was happening. It would have to double and double and double again. But at this point, the bottom of the stadium is covered with a sheen of water. If it doubles and doubles and doubles only three or four more times, we're going to be washed away. That's the way exponential growth works.
I think that we're right at that stage right now. As serious as the problems of the world are, technology is going to overwhelm everything over the next 20 years. It's the biggest black swan. Well, not really a black swan because a black swan is one that you don't even know exists. But it's the biggest thing that's happening and it's growing at an exponential rate right now. It's going to change the whole character of the world.
Interestingly, this is happening at the same time as the world's economic and financial foundations are withering away. Technology is expanding. I'm not exactly sure how it's going to work out. Maybe science fiction is the best predictor. I'm not sure that's a good answer to the question, but I'm just expecting gigantic change.
Maurice Jackson: Let's switch gears here. In our last interview, we discussed the first book of the High Ground series entitled "Speculator," and since, you've released this second book in the High Ground series entitled "Drug Lord." It appears that the main character, Mr. Charles Knight, he's back at it again. But before we discuss Drug Lord, for someone not familiar with "Speculator," tell us about it.
Doug Casey: What my co-author, John Hunt, and I have tried to do is write a series of novels that reforms the unjustly besmirched reputations of highly politically incorrect occupations. It starts out with Charles, our hero, at age 23. He gets lucky with a mining stock, doesn't have any money, has very little money, but he hits a long-ball home run, and decides to go off to Africa to investigate this company that's made him all this money. He finds out it's a fraud. He gets involved in a bush war in Africa and so forth.
It's a hell of a good yarn about adventures in Africa. It's quite an education in economics and in the mining business and politics and everything. That's "Speculator," the first in the series.
Last year, we released the second in the series, "Drug Lord," where Charles, after running around the world with the money that he's made from the first book, he becomes a drug lord, both legal and illegal drugs, FDA-regulated and DEA-regulated drugs. We explain the drug business, how you do it, how money is made, how money is moved, and so forth.
Now, of course, just like in the first book, the government steals most of the money he makes. Now he's a little bit unhappy. The third book is called "Assassin." It's a study of the occupation of politician assassin. This is a hot potato, obviously, when you talk about a political assassination, but what we're looking at is the morality of that, the techniques of it, and a revisionist history of famous political assassinations throughout history, and what Charles does with this information.
I'm just telling you what it's about, but I'm not going to tell you what Charles does, but I think it's going to be a blockbuster on its way to the fourth book in the series, which is more radical yet. I don't even want to mention that. It's going to scare too many people.
Maurice Jackson: What I want to share with you is please don't share it with us because I'm looking forward to reading it because I'm just in Chapter Four of "Drug Lord." For anyone that is involved in the natural resource space, "Speculator" is a must-read. We have it listed under our education tab on our website. When you just learn the nine P's, you'll discover how "Speculator" will assist you in your natural resource endeavors.
What I enjoy about reading your books is that you make a very clear distinction between the virtues of liberty and the vices of government. Again, it's always fun to read your books, specifically in this High Ground series that you're conducting here.
For our audience, if you're seeking to purchase the High Ground series books, please visit highgroundseries.com .
Before we close, you are one of the featured speakers at the Sprott Natural Resource Symposium , which is being conducted the 17th through the 20th of July in Vancouver, British Columbia. What will you be discussing?
Doug Casey: Well, everything under the sun, quite frankly, because I'm giving a keynote speech, but in addition, I'm on a couple of panels. I want to be very wide ranging. At the same time, I want to be practical and give people some specific ideas about what they ought to do with their money.
These conferences, like this one we're going to, Maurice, are very important. They give you an opportunity to hear lots of ideas in a short space of time, and talk to the managements of lots of companies, which is very important if you're going to speculate in this area. I urge your listeners to show up and I look forward to greeting them personally; anybody that would like to meet me. I'll certainly be there.
Maurice Jackson: I look forward to seeing you again. It's always an honor, but one of the things, also, when you attend a conference such as the Sprott Natural Resource Symposium , is the intellectual capital that you also have from fellow investors and the networking you can do.
If I may just slightly digress here, two years ago, I met a gentleman at the Sprott Natural Resource Symposium in Vancouver. I read your book last year, "Speculator." Lo and behold, I think in the interview, you gave a charge that stated basically, "If you want to become rich, you need to go to Africa."
Well, lo and behold, I went to Africa twice last year, and the second trip I went there, there's this gentleman who was with me in Vancouver that I met at the Sprott Natural Resource Symposium . Lo and behold, guess what. He also read "Speculator." Here we were at a site visit. We were just discussing your book and we're living, we're actually being Mr. Charles Knight in some regards. It's just an amazing experience, the networking that you can do, and the lifelong friends that you also have an opportunity to meet here at the Sprott Natural Resource Symposium .
Now, a day after the symposium, on the 21st of July, you'll be speaking at Jayant Bhandari's " Capitalism and Morality ." Can you share what the topic will be?
Doug Casey: It's a fantastic, one-day conference that Jayant puts on. It's about capitalism and morality, exactly what it says it's about. The people who attend it are fantastic. They are motivated. The speakers are all great. If you're going to Sprott, which you should do, you should definitely stick around one more day and go to Jayant's " Capitalism and Morality " seminar. I'm glad you mentioned that, Maurice.
Maurice Jackson: Your presentations are phenomenal. The difference there is, just for clarification for our audience, the Sprott Natural Resource Symposium is investor-based, and Jayant Bhandari's " Capitalism and Morality " is philosophy-based. I find it intriguing that the serially successful members in the natural resource space tend to have the same philosophical and political views. I don't know if that's just coincidence, but is there something you can share regarding that by chance? Do you notice the correlation there usually?
Doug Casey: Not necessary as a correlation, but very helpful, because you've got a lot of successful speculators like George Soros, who are moral cripples, in my opinion. But look, it's very helpful to have a philosophical basis for what you do.
It is very hard to become wealthy if you believe that money is evil, or the love of money is the root of all evil, which is actually what the Bible says. You're fighting against yourself if you believe that. This seminar is to overturn a lot of the false psychological, philosophical and moral beliefs that people have that actually limit them from becoming wealthy. It clears your mind, in addition, so very important.
Maurice Jackson: Last question. What did I forget to ask?
Doug Casey: One more thing, glad you asked, is that my first book was called "The International Man," subtitled, "The Guidebook to Making the Most of Your Personal Freedom and Financial Opportunity Around the World." I've recently acquired that website from my publisher, Legacy. We're totally expanding and improving it. I hope everybody who's listening goes on their computer to internationalman.com and signs up.
Every day, I think we're going to send something that's really going to be interesting and potentially very profitable. We want to make it into one of the most noteworthy websites on the web, so go to internationalman.com and sign up.
If anybody wants to get in touch with me, they can do so via that internationalman.com .
Maurice Jackson: Last, but not lease, please visit our website, www.provenandprobable.com , where we interview the most respected names in the natural resource space. You may reach us at .
Legendary investor and author, Doug Casey, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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