Jan 19

Doug Casey: “We Are Living In The Middle Of The Biggest Bubble In History.” (ZeroHedge, Jan 18, 2013):

The recovery since the 2008 financial crisis is just an illusion created by the papering-over of our insolvency by central-bank printing. Doug Casey adds that the current state is akin to being “in the eye of the hurricane thanks to this ‘cover'” and believes the printing which will ultimately lead to very high inflation once bank lending starts to pick up again. This excellent interview moves from Casey’s view of a looming loss of confidence in the dollar (and the impact of mass repatriation) to what must the Keynesians be thinking as the “apparency of prosperity” remains all that we have to lift animal spirits. With an eye to gold (and non-western central banks behavior towards it as they realize “the USD is just an unsecured liability of a bankrupt government”), he evaluates the likelihood of a western economic collapse in 2013 and what that would imply for an implicit gold standard in the world. From Austrian economist Hans Herman-Hoppe’s view of a post-Keynesian-crash era to his potential triggers for this collapse (such as gold-energy barter and non-dollar blocs), Casey succinctly reminds us that there is not just one asset-class bubble but that “we are living in the middle of the biggest bubble in history.”


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One Response to “Recovery – Doug Casey: ‘We Are Living In The Middle Of The Biggest Bubble In History’ (Video)”

  1. Marilyn Gjerdrum Says:

    Absolutely true. This collapse (I agree it will be this year) will make 1919, 1921, 1929, 20001, 2008 look like picnics in comparison. The final nail in the coffin of the US dollar took place in June, 2010, when Hugo Chavaz introduced the Sucre. It was the first electronic currency, rendering the need for a world reserve currency, obsolete. Since then, over the last 18 months, the US dollar has gone from 100% of world economic trade to 60%.

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