Shocking Plan By Fed To Replace Dollar With Blockchain Cryptocurrency FEDCOIN And What To Do



Doug thanks for agreeing to meet me here on such short notice ah my pleasure Bob Doug as you know I'm here because you believe something shocking and disturbing is going on in Washington right now something that'll catch the average American completely off-guard and will be dangerous to their financial well-being that's right Bob and short I think that we're in line for one of the most drastic and draconian changes to the US money system in history it could be on a par with the creation of the Fed in 1913 or Roosevelt confiscating American citizens gold in 1933 the u.s. at this point is a ticking time bomb from a financial from an economic from a sociological from a political point of view it's a very dangerous situation so let's talk about this change in the u.s. money system Doug what do you believe is gonna happen well the monetary system itself is extremely unstable and money is the lifeblood of an economy and you poison the monetary system it's like getting blood poisoning it'll kill you eventually we're seeing this now the dollar has lost about ninety six ninety seven percent of its value since the creation of the Federal Reserve in 1913 that trend is not only going to continue but at this point it's going to accelerate rapidly one of the things that's helped a lot recently is the fact that it's the world's reserve currency there are about 10 trillion US dollars outside of the US this is a big problem because the major export of the United States for the last thirty years has been dollars the nice Japanese send us Sony's and Toyota's and the nice Germans send us Mercedes and we basically just print up dollars and send it to them that's how 10 trillion dollars go outside of the US it used to be that just after World War two all of the skyscrapers in the world 80% of the aircraft production in the world percent of the automobile production in the world seventy-five percent of the steel production in the world seventy-five percent of the stock market value in the world it was all in America America was the end-all of the be-all it was the king of the hill now none of these things are true anymore and unfortunately the dollar rests on nothing more than confidence because it's an IOU nothing I'm a part of a bankrupt government and the US government make no mistake is bankrupt its liabilities far far exceed its assets so when the confidence blows away the first people to dump the dollar are going to be foreigners and all those dollars the 10 trillion abroad are going to come back into the United States I mean inflation could explode in this country it's a very very unstable situation from many points of view so Doug a number of countries are already abandoning dollar is that I've read about a trade agreement 25 countries recently struck deals to trade outside the dollar China and Russia reached a four hundred billion dollar energy deal to trade outside the dollar this is a trend that's in place right now and you expect that too it's a trend that's accelerating actually because at this point when the Russians trade with the Chinese which they do what are they use they use US dollars but the US government is an enemy of both they can see the illogic of trading with each other and having it clear through New York at the same time the Iranians trade with the Indians a lot of big traders around the world that are using the dollar because it's kind of the the world's currency but that's going to end because none of them trust the dollar anymore so Doug what do you actually see happening with the dollar my thought is this that understanding that the dollar is as unstable as it is at this point the Fed might try to create an alternative and an alternative that's more undercutting their control than the dollar and actually out of a traditional banking system what would happen if the Federal Reserve created a look-alike dollar let's call it the Fed coin perhaps based on the same technology that bitcoin is based on this is the blockchain technology where every transaction can be tracked from the creation of the Bitcoin itself I suspect the next stage on the part of the government since they've tried quantitative easing can't do that too much more after creating trillions and trillions of these paper dollars which are going to come out of the financial system and into the retail system exploding prices zero interest rates and negative interest rates huge distortions that's going to come to an end what are they going to do next when the as we enter the trailing edge of the hurricane and everybody will say do something do something well what can they do they've used their two major tools so far my guess is they're gonna come up with a with a completely digital currency called the Fed coin which will actually act as a parallel alternative to the dollar it'll have a lot of advantages from the government's point of view and as much as people seem to like Bitcoin the public may accept it to start with so Doug tell me about this Fed coin what's it gonna look like is it gonna replace the dollar well this is a conjecture on my part it's not going to be physical to start with it's not going to be paper in any way it's going to be something that you're going to have on your smartphone in Canada they have something called project Jasper which is their own version of this the Chinese have announced that they're planning on a blockchain type currency the same thing I've said that they want to see this happen as soon as possible the British have made an announcement along these lines this is the latest version of the 100 dollar bill that I've got here right but do you remember not so long ago it used to be a little round circle I mean they keep they keep changing the hundred dollar bill I think in the last 10 years we've probably had three or four different hundred-dollar bills maybe this is getting the public used to the fact that these things can change a lot and quickly the day is going to come when this isn't worth the paper it's printed on currencies paper currencies fiat currencies have a half-life they're like radioactive elements as as this cashless society sort of evolves from here do you see a potential run on the banks sure I mean people have to be afraid of not being able to have cash I mean for some of the reasons you've mentioned exactly and especially as the hundred dollar bill is taken out of circulation which is the next thing that's going to happen try this go down to your local neighborhood bank and ask the teller to give you $5,000 in cash first of all she's going to fill out a suspicious activities report on you but I doubt if she'll even have five thousand dollars of cash in the bank banks aren't dealing in cash they're dealing in checks and debits and credits on computer dog I've heard that the Fed has admitted if there were if there were to be a run on the bank they don't have enough cash to meet that no of course not because how can they print up hundreds of billions of dollars overnight so that when people go to their bank to cash their checks they can be rewarded with fifty and hundred-dollar bills it's not even technically feasible to do that so somebody takes a cheque from his employer puts it in the bank can't get cash back what's the bet gonna do give him another check but he can't do anything with so Doug I read somewhere that if all the cash that was needed to meet the obligations the digital obligations that are in the bank if you had to print that amount of cash it would take 20 years to print enough bills to satisfy demand is that those are the numbers that I understand because printing up hundreds forget about printing up fives and tens and twenties it takes a long time I mean it's a complicated process so if there was a run on the banks and people wanted cash it would be physically impossible to give them enough cash it would take years it would take decades for the government to print up enough dollar bills 20s or 50s or whatever to give people what they want well Doug it sounds like the ordinary American is getting trapped no of course he's being trapped I mean historically he could no longer use gold after 1933 silver was out of the court coinage in 1966 the dollar was completely on backed by anything since 1971 recent years with things like FATCA and so forth it's now almost impossible as a practical matter for an American to open up a bank or brokerage account outside the US look the thing to remember is that cash is honest way out not just in the United States but all over the world in Sweden it's almost a cashless economy in France and Italy in Spain it's illegal to transact for more than 1 or 2 thousand euros of cash the Euro the 500 euro note is being phased out the reason for this is that if the banks are untrustworthy and interest rates are 0 or negative why leave your money in a bank it'll it costs you less to put it under your mattress actually so but they don't want people to have cash why because they say a cash economy facilitates tax evasion it facilitates underground transactions it facilitates drug transactions it facilitates terrorism where $100 bills are passed around in suitcases and so forth so they'd like to kill all currency now what are you going to do you can't leave money in the bank because you're getting zero or negative interest rates the bank itself where you're leaving your money is unstable illiquid probably even on solvent you can't have cash because the most they're gonna have in the future are tens and twenties so what are you going to do I mean you're really trapped at this point so Doug what's the advantage of the Fed coin if you will from the feds point of view oh it's a huge advantage for them because in the 2008 crisis they like to blame a lot of the problems on a lack of transparency but with blockchain and the Fed coin technology they can see everything everywhere so it's complete transparency where they can see everything everywhere that everybody's doing it's a parallel system relative to the one we have right now where if anything goes wrong with the US banking system the u.s. insurance system you've got the Fed coin as a backup Fed Cohen gives them an extremely powerful button to control society and control its individual members so a lot of advantages from their point of view and no more bank runs how can you have a bank run when there is no cash I mean it's it's diabolical and its simplicity well Doug it sounds like a real benefit I'd say that it's very dangerous without cash you have no privacy if you have to put everything through a bank account the government knows exactly what you're buying what you're selling how much you're earning they're in complete control able to take what they want out of it including your entire account if you become politically undesirable there's no reason to trust a digital computerized economy as the National Bank of Bangladesh found out not very long ago they had 81 million dollars deposited with the New York Fed the New York Fed was hacked and the National Bank of Bangladesh lost 80 1 million dollars have they gotten it back no will they get it back no this can happen to anybody in any bank this is another advantage of having cash sure it can be stolen it can be lost but the size of the thefts that can be conducted electronically in today's world absolutely dwarfed any problems that you'd have with cash Doug David Walker the former comptroller of the US currency said that taxes in America would have to double or America would go bankrupt I've heard that this cash economy this barter economy takes four to five hundred billion dollars out of the hands of the government every year oh and I'd consider that a good thing because people are using that money productively whereas whereas if the government took its cut out of everything better be that much less that could be used by people to get goods and services that they want in need this is another reason why the government is going to look to put blockchain in there because it'll be impossible to escape the tax dragnet with no cash to trade it'll be barter or use fed coin and actually is that a good thing for the economy no it's a bad thing for the economy because people that are dealing in what's called the underground economy are actually providing useful goods and services that if the government extracts it's 30 or 40 percent in taxes which they'll be able to do now with fed coin whose gonna hurt the economy not help it it'll help the US government but that's different from the economy in America dr. Ron Paul the former presidential candidate and 22 year congressman is a friend of yours Doug and he said that the cashless society is the IRS is dream total knowledge of and control over the finances of every single American agree I completely agree and Ron Paul is one of the few decent people when I'm actually circulated washing in recent decades he's completely right this is an extremely dangerous development for the average American so how is the Fed coin different than the digital money we already own in in bank accounts well right now those dollars are a liability of the bank the Fed coins different because it's not a liability of a commercial bank it's a direct liability of the Federal Reserve number one number two it's gonna use blockchain technology which makes it totally trackable unlike dollars today so those are two huge differences it's going to be sold as a safety thing because blockchain is much harder to hack than conventional digital technology so this is another reason why they're going to want to go in this directions for your own safety well that's a pretty scary thought with a Fed coin you're talking about no privacy at all Oh zero that's scary well not only that but as an innovation it's much more convenient for them to create them to debit them and credit them they're really going to be in control of everything at that point at least now your dollars are good outside the US they're deposited in banks you can get cash for them if they take this to the next step during the next crisis it's really complete control so the privacy out the window with Fed coin I read that they have a way of controlling how digital currencies where they can be spent or what they can be spent on is that is that an element of control that the feds could possibly put into this new currency of course the computer can do anything when you take your Fed coin you buy your smart smart phone or and this is rather shocking but the next step instead of a smart phone phone is everybody has a chip a lot of people like it hey I've got a chip I can't lose my wallet I mean it's all right here I mean your bank account your medical records all these things people are chipping their dogs and their other pets today where that chip yourself and carry all your information and your digital money right with you it's very convenient it's very stupid from a personal freedom point of view but at that point it can be used under the scanner can't be used under this one it's all computerized it's nothing it's not a cosmic breakthrough at this point well Doug it's not as far-fetched I guess as some people might believe I I think they have something going on in Japan right now for tourists and fingerprints no your prints and stuff you're right actually reality is outrunning science fiction at this point as of next year tourists to Japan when they enter the country have to be fingerprinted and their financial data for their credit cards and so forth correlated so that this is actually happening in Japan so that when you if you're a tourist in the country you'll also have to use your thumbprint or fingerprint when you use your credit card so no the next step clearly is something along these lines so Doug this blockchain technology you've said is gonna give the government in incredible control can you give me an example of what you're talking about it's it's like an anti cache if I've got a hundred dollar bill in my wallet or a bunch of tens and twenties I can spend them on anything I want with anybody I want and nobody knows with blockchain I could only spend that money to somebody else who's got a receptive smartphone or chip and they know exactly who's getting the money and what it's being spent for and it can be programmed so that certain transactions can't take place or transactions with certain people or stores or whatever so you're pretty well blocked it I mean for all I know they might decide that under your Obamacare or whatever comes about after it you're too fat you can't buy sugar but if you can't buy sugar who can buy sugar I mean you know how are you gonna pay the other person to buy sugar if you want sugar you want ammunition for your gun well maybe you can't buy it how are you gonna get it how are you gonna pay for it this is a this is a real personal freedom problem and it's gonna be sold to the American people under the guise of convenience and safety and fighting drugs and fighting theft and fighting crime and fighting terrorism and all the usual nonsense but it's going to be devastating to freedom and economic progress in this country I can see how it might be sold for example if you limited to say a 16 year olds a fed coin account from buying alcohol I mean that could be sold as a real benefit we can enforce the liquor laws well sure you couldn't disguise a lot of things as benefits but how was the sixteen year old going to get something that he or she wants if they can't buy it maybe they'll have to barter I don't know maybe instead of instead of buying something maybe they'll sell their body in order to get something because you'll have to barter to get around using fed coin so there's all kinds of unintended consequences well I know with the food stamp program already there are certain prohibited transactions you're not allowed to buy liquor with food stamps you're not allowed to say spend your money or your your electronic debit cards in strip clubs I know that's a law in some states as well so this just seems like a further extension of government control on individual behavior absolutely they'll be able to prohibit anything without even passing a law quite frankly if you're if you're fed coin smartphone or chip isn't programmed to let you buy that how are you going to get it you don't have cash anymore yes so who needs a gun register right well exactly so no no point in dealing with all these pesky Second Amendment laws at that point you do an arabesque around it this is sounding very Orwellian and I wonder how when the Fed launches this thing how are they going to how are they going to sell this to the public I mean what's the pitch on this well it is convenience okay easy they'll sell it is security you can't lose your wallet safety they sell sell it as patriotism helping the government get the economy back under control and the average person basically does what he's told I mean as I said earlier even using the the language of the government choose instead of inflation its quantitative easing no problem I mean people people the average guy sad to say has so little grip a basic economic theory and I'm afraid that that's true all the way up to the people in the topper in the very top echelon of a Federal Reserve that they can really get away with anything at this point you know back in 1968 a guy named McGovern ran for president of the US and he came up with a cockeyed idea and his idea was we ought to deposit a thousand dollars and everybody's bank account to stimulate the economy well it was a laughing stock thing back then but now a lot of well-known legitimate economists are saying we ought to have a guaranteed income for everybody in the country and something like a new currency a Fed coin issued directly by the Fed well you don't have to trust a bank which may be bankrupt I think that's on the way actually something that could supplement Social Security well not everybody has a bank account with a commercial bank today right but everybody's got a Social Security number and they could all have an account directly with the Federal Reserve which people think hey that can't go bankrupt they actually make our money it'll be quite easy to reach out to everybody on their smartphone and give them a Fed corner account with the Federal Reserve and distribute the helicopter money in a fair way so Doug it sounds kind of like social security 2.0 well that's very much the case it's following up a massive disaster Social Security is a Ponzi scheme and why not follow it up with an even bigger one Social Security itself is bankrupt I don't know where they're going to get the dollars to pay that off so perhaps they can do an arabesque around the problem by issuing a Fed coin account to everybody to substitute and keep down the number of dollars by having an alternative parallel currency where these obligations can be made good directly with accounts with the Federal Reserve the issuer of the currency ruling out bankrupt insurance company's bankrupt commercial banks for that matter a bankrupt Social Security system so what are they going to do at this point they've shot all the arrows in their quiver they've printed up huge amounts of money they have reduced interest rates to zero in fact at this point there's about thirteen trillion dollars of government bonds around the world that have negative interest rates where forget about the inflation losing value eating the value of your money you have less money at the end of if it's absolutely insane it's it's bizarro world where things are turned upside down it's like the last the last arrow in their quiver that I can see at this point dubbed this is an interesting theory but is then is there any evidence that the Fed is actually looking into this at this point there actually is there have been a number of statements by everybody from Janet Yellen on down that this blockchain technology which is in back of Bitcoin they consider it viable they want to use it and this is unusual in a way on the part of the government usually when a technology and new technology of any type comes out whether it's the horse or the Gunpowder or their printing press the government doesn't like these things these innovations because they take power away from whoever controls that the establishments quo right exactly changes the status quo and gives power to the common man all these things have liberated the common man the computer revolution the Internet is a perfect example of this but in this case the situation is so serious I think the government wants to co-opt this technology to get in front of this technology and since has already been legitimized the idea of Bitcoin and blockchain technology I think the next step is that you're gonna find the Federal Reserve itself offering Fed coin which is very convenient for them because with that they can designate exactly how those Fed coins can be spent they know exactly who gets them what they're used for and so forth and if there's ever a serious problem with the dollar for instance with the trillions of dollars outside the US flooding back into the US it can act as an alternative currency which at least for a while will have some semblance of confidence Doug Lee will talk about how you can protect yourself in a moment but first I want to get a sense from you for when this is going to be happening surely we're talking multiple years maybe even decades before this comes about I think not Bob I think that since we're going into the trailing edge of this gigantic financial hurricane now so we're not talking about decades or years we're talking months or for that matter but depending on when somebody views this it could be a matter of weeks I mean there's a certain amount of urgency not just importance but urgency in doing this you don't see this widely reported in the media but it's happening all around us at this point look in June of 2016 Janet Yellen and dozens of other central bankers met with the top experts in the blockchain area including the people that are in back of Bitcoin it's happening now that technology is there but my question to you is wouldn't it take a long time for an infrastructure to be put in place to allow the Fed coin to you know to be distributed actually the infrastructure is there right now it's there right now in other words if the US government needed currency to redeem people's demands for their money at a bank they couldn't possibly print up enough currency quickly enough that's out of the question however today almost everybody except the very bottom of society everybody has a smartphone and the blockchain technology has been active and used now for a decade now Doug just so I understand what's going on here so the Fed has run out of policy tools they've printed trillions of dollars interest rates are basically at zero and soon they may have to go negative in an effort to stimulate the economy but they won't be able to do so without banning cash and then they're going to come up with a new currency a Fed coin that traps people savings essentially this could be the ultimate confiscation and control tool do I have that right Bob you're absolutely right the most important thing to remember is that the paper dollar the hundred dollar bill the fifty dollar bill currency itself is on its way out it's going to be replaced strictly with digital money as is happening in other places in the world right now this has got very serious consequences for you on all levels so plan your life around that Doug I've tracked your career closely since you wrote your best-selling book crisis investing back in 1979 I know you're not one of those gurus who make huge predictions just to get in the spotlight when you make a prediction more often than not history has proven you right for example in your book you warned corporations would go belly-up on a massive scale but that the government would bail out those which are most inefficient sure enough the S&L crisis ensued with over a thousand bankruptcies followed by the bush bailout in 1989 well a good economist among other things anticipates not only the immediate and direct consequences of government actions but the indirect and delayed consequences as well unfortunately most of the economic pundits you read about are actually just political apologists you've issued at least one major prediction in each of the last four decades let's take a quick look nine months before the fall of the Berlin Wall you wrote the Soviets are likely to see their country break up November 1999 four months before the Nasdaq lost over 60 percent you said almost everyone of the internet stocks is a burning match you said we'd see quote a 95% plus meltdown among the survivors with many disappearing totally lastly in 2005 two years before the housing crash you issued this public statement you said what's going on now in the residential real estate market is much like the tech bubble but potentially much more serious than what went on in stocks a few years ago the bubble is flow on a sea of debt when it bursts millions of houses will hit the market in distressed sales now Doug I'm not gonna list all the predictions you've ever made but these showcase why financial author Robert ringer has called you one of the great prophets of our time and why Simon & Schuster has stated you've never been wrong on one of your major predictions Phil Donahue even once devoted a full hour long show to your work well Bob I don't have a crystal ball I'm not a fortune-teller but I believe that in the real world cause has effect and actions have consequences so the key is to position yourself let's move on to what people can do to protect themselves the research firm you founded Casey research just put out this new book that outlines your four-step plan to surviving a currency crisis it's called surviving Fed coin how to protect yourself and profit from the coming currency change you're making this book available for free to everyone at home let's go over the plan well there's a four-part program that I put together first of all you've got a look at where you are in the world today what are you own where do you live if you have two cars three cars a bunch of flat-screen TVs too much junk run the first thing is liquidate I think that you should take everything that you don't really actively need or want and get rid of it get fighting fit get slim turn it into cash it'll liberate you psychologically it'll liberate you financially it's also true of stocks that might be in your portfolio that your broker put there and you forgot why you owned them and certainly bonds which are in a bubble worst thing you could own right now so liquidate is the first thing so Doug I understand in the book there are four sectors in the stock market that you specifically think investors should be avoiding as we as we move forward yeah you're absolutely right there are some things that you should avoid like poison on the other hand you can take advantage them of them as a speculator by going short these things they crash you win okay that's step one step two step one you're going to want to create what do you know what people do you have contacts with what knowledge can you sell to others what you've got to create it's not enough just to have the assets that you have you've got to look at the job that you're in you've got to look at your entire life situation and that's what I call the create stage then number three perhaps from our point of view now the most important parts of that are the consolidate and speculate part of this and buy consolidate I mean look at where you should be your financial assets stocks bonds your IRA your HR 10 plan your bank accounts and so forth get them in the right places in the right kind of assets take control of this because most people just float along one day to the next and then all of a sudden 2008 happens again except this time different and worse and they're in the wrong position so after you've liquidated you've got cash you've got less liabilities less obligations now you're going to consolidate and get things together get organized to get off on a new foot so consolidation means taking that cash that you got in a liquidation stage and I'd do two things with it I'd keep a lot of it in cash and I would buy gold and silver coins in your own possession physically let you on so dug expand a little bit on your thinking about why cash is is is so important right now I mean if you don't want to be completely transparent to use a currently fashionable word to these people that want to control your life cash allows you to remain anonymous the ability to transact in cash gives you privacy and privacy is one of the big differences between a civilized society and a primitive society in a primitive society in your little dirt village you have no privacy everybody can look through your window or pull back the flap on your tent you have no privacy everybody can hear everything see anything this is one of the marvelous things about modern civilization is that you have privacy look one reason for buying things with cash now is that it may not be possible to buy those things with cash later I'm not sure what percentage of the population owns a gun but I think that any free man should be in a position to defend himself you'd better buy them now while it's possible to do so for cash right so this is this is a very very serious thing not just financially but from a personal freedom point of view as well so Doug how much cash do you suggest keeping on hand well one of the problems in the u.s. at this point is that the average guy can't even lay his hands on $400 overnight if he needs it you might recall an article in Atlantic magazine a few months ago I thought it was interesting because it was a mainstream magazine that said that the average American today or by that they meant about 40% of the country would have to borrow money to handle an unexpected $400 expense yeah I read that that shocked me that's pretty close to the edge so the whole country is very illiquid when everybody else is illiquid you want to be liquid so I think that you ought to keep several thousand dollars and if you're watching this right now that should be doable so Doug you're suggesting that people hold on to several thousand dollars in cash and but what happens if the hundred dollar bill is is banned these things are just going to go out of circulation but they'll still be accepted for a good long time and you might be better off not having hundreds anymore but having twenties and tens now it's true that's gonna be a bulky little package but that's the way things are going and Doug I understand that the book contains or reveals the best place to store cash which I guess will be a surprise to many readers well there are clever places and not so clever places to keep actual currency cash so we go into those things some of them are not very obvious at all and let me add something about consolidate I think that at this point it's important that you build your portfolio of gold and silver coins physical coins in your own possession I think that's very important most Americans don't have any gold or silver and I would much rather have if I'm going to keep anything in my pocket a gold coin like this one it's not going to lose value and relative to this paper it's going to go up you're going to want to own a lot of gold and silver coins as many as you can afford in your own possession because they're like the anti Fed keine gold and silver are the only financial assets that are not simultaneously somebody else's liability and they're not digital so they can't be controlled and tracked the way Fed coin and digital currencies can be so that's why they're an essential part of your consolidate position as well as having some actual paper cash so Doug you know if we go the fed coin route you're suggesting that individual investors get their hands on gold coins and silver coins but isn't it possible that the u.s. government will confiscate gold the way they did back 19:33 well that is one of the problems that we're dealing with now it's that the US government can and thinks they should do anything that they want so sure that's possible but that's all the more reason when you buy your gold to buy it with cash so that there's no record that you own it you reveal in the book one last place where you can buy untraceable gold that's right and you ought to do it now beat the last-minute rush do it well still possible I'm not so worried about the government confiscating a few gold coins or even a lot of gold coins from individual citizens because Americans that own gold today generally own it through ETFs and most of the gold that those ETFs own is paper gold created on the futures exchanges so if the government really wants to confiscate gold this time they're gonna do it through publicly traded vehicles like ETFs and the futures exchanges I don't think they're gonna go rummaging through people's and individual houses looking for a few gold coins but that's why you want to own gold coins in that form in your own physical possession as opposed to some paper product through your broker so so Doug I understand that the the banks are actually following your advice they're loading up on physical gold I understand that HSBC has bought four tons Goldman Sachs has bought three tons so they're loading up on the physical stuff not on the ETF's and it's not only commercial banks like them the central banks of advancing countries like China and Russia India Thailand these central banks are all buying gold as well and you might wonder why are they doing that it's because gold is the only financial asset that is not simultaneously somebody else's liability and in a world that it is as head over heels in debt as this one is that's critical no counterparty risk exactly there's no daisy chain to break with derivatives and so forth so dug this fed coin seems inevitable to me after our conversation here but let's just assume that it doesn't happen can you still make a case for owning gold oh absolutely I mean I think fed coin is going to happen and that's going to accelerate all these things but I think that you're going to see gold in this next cycle two three four five thousand dollars an ounce it's going to be a seemingly insane number there's going to be a panic into gold and it's gonna happen not just from greed as people see it going up relative to the dollar but it's gonna happen from fear as well and it's going to happen from prudence in addition so you're going to have three emotions acting on this gold bull market at the same time Doug I understand that the book reveals the cheapest way to legally buy gold coins in the United States like almost anything else there are smart ways and not so smart ways to do things so we absolutely try to cover the practical aspects of all this in addition to the theoretical possibilities we've been talking about so Doug are you suggesting that people buy gold now or is this something they can do in a few months or I think it's gonna go up several hundred percent from here so the time to buy it is now don't delay don't look for a retrenchment if a retrenchment occurs use it to buy more but no you want to act now you want to buy now because it may become impossible to buy gold in the future I mean this recently just happened in in Sweden the largest gold dealer in Sweden their bank accounts were frozen for no reason other than the Swedish government no longer wants to see gold purchased and this is likely to happen other places so we're trapped increasingly like lobsters the government never controls itself it only cries to control its subjects and that's the problem so this new environment that we're going into is gonna require a dramatic change in the way people invest their money and not only that but it's gonna take a huge change in the way they think people have been hardwired to think in terms of the stability that used to be but that stability is gone so they're gonna have to change not just their investments but their whole mode of thinking they've been guided down the primrose path by by the people that control the Treasury Department and the government and the presidency I mean if there was any justice in the world many of these people would be hung from lampposts by their heels in a time like this the markets are going to be going up and down like an elevator with a lunatic at the controls that's bad news from the point of view of most people because it's a very unstable unpredictable situation so you've got to learn to think like a speculator and that's number four speculate which is they capitalize on these politically just politically caused distortions what you're going to see in the market because if the stock market Falls 80 percent that's a disaster if you own stocks but if you saw it coming and you get short the stock market or buy puts in the stock market where most people are losing 80% maybe your quintuple your wealth in the same time same thing in commodities bonds real estate and so forth it's increasingly less possible to invest in the manner that Warren Buffett is made famous it's no longer possible yes they're in the process of destroying the currency now that's bad news for most people but the good news is that it's going to present some tremendous speculative opportunities where instead of like most people saying all right I'm gonna take $100 and hope to earn $10 risk a hundred to get ten in this environment a speculator is going to be able to take ten dollars and hope to gain a hundred if you can change your mindset there are going to be tremendous opportunities can you give me an example one of them

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