Doug Casey On Why Gold Could Go "Hyperbolic"

[Tony Koretz]

Doug Casey On Why Gold Could Go “Hyperbolic”

So, I’m frankly trying to liquidate at this point. I really only want to own gold, silver, and other commodities to preserve capital. And mining stocks, as speculations. And more cash than I’m accustomed to. But that only leads us to another problem. The dollar itself is a hot potato.

Justin: What do you mean?

Doug: Keeping dollars in banks is very dangerous. The whole world is like Cyprus a few years ago. You don’t actually own anything in a bank or broker anymore—your assets are the unsecured liability of an institution that’s likely bankrupt. This is especially true if you have more than $250,000 in any given account, which the FDIC insures. But it’s bankrupt too, with assets that cover like a half percent of their liabilities.

The problem is systemic risk, and it’s worldwide.

Read More https://www.zerohedge.com/news/2018-02-18/doug-casey-why-gold-could-go-hyperbolic

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