Doug Casey Sees Big Changes On The Horizon

Photo: Doug Casey Sees Big Changes On The Horizon

According to Doug Casey the crisis in 2008 never ended. The drastic actions that central banks took in the wake of the subprime melt down kept the world's financial system from blowing up, but they may not have solved the problem at all. Doug likens what he sees as an ongoing crisis to a hurricane, and he thinks that the time from 2009-2107 has been the eye of the storm.

The eyewall is probably going to hit the markets in the next year, and the ramifications could be dramatic. The central bank debt that has been pumped into the markets has driven stocks to all time highs, and bond yields to lows that seem incompatible with reality. In fact, some of the more popular short term debt instruments have fallen into negative yields at times, and this creates major problems for the formation of capital.

When people aren't rewarded for saving, it is hard to see how any investment is going to happen. But that may be the beginning of the problems at hand. In a recent interview with Bob Irish, Doug Casey breaks down what he sees coming as a result of the next phase of the crisis, and some of his predictions are shocking, to say the least.

A Long Track Record

Over the course of the last thirty or more years, Doug Casey has been right on a number of big trends. But today he sees some very troubling things coming, among them, Doug thinks that the Federal Reserve may create a new currency. Like many people, Doug sees that countries all over the world are moving away from the US Dollar, and sooner or later the US will be in a tight spot.

Even after Nixon slammed the gold window shut, effectively ending the Bretton Woods system, the US Dollar has been the go to currency for international trade. But today the economies of Eurasia are challenging the west in both size and sophistication, and they are tired of Washington's influence on the other side of the globe.

But if nations like China succeed in overturning the US Dollar's dominance, there will be a whole lot of dollars with no where to go. This is where the “Fedcoin”, as Doug calls it, comes into the picture. He sees a situation where the FED will need to create a new currency, and do away with the US Dollar as we know it today.

Don't think it can happen?

Just look at what just transpired in India, where all the large banknotes were outlawed over night, and then think about waking up one day to find that all of your money was no longer useful. When the banks in Cypress got into a jam, guess what?

The people got hammered on by the banks, then the stock market lost more than 90% of its value. But Doug thinks it could go even further.

Right At Your Fingertips

Doug sees the Fedcoin as being an e-currency that would have no physical form whatsoever. That means using a smartphone or card to make transactions, but it also could be the thin end of the wedge when it comes to implanting chips in human bodies. As implantable chips have become more commonplace in animals, they have become more accepted by the public. This could translate into a whole new economy, with no physical currency.

While Doug Casey has been a right on a number of major calls over the years, the ideas he explores in his new book “Surviving Fedcoin: How to Protect Yourself (and Profit) from America’s Coming Currency Change” are well outside of what is being discussed in the mainstream media.

If you are interested in how this could all play out, you can catch Doug at the upcoming Silver and Gold Summit on November 20th. The two day event will feature a number of investing legends like Rick Rule, Jim Rickards and Marin Katusa, so coming to downtown San Francisco for a few days is a great idea!