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Posts Tagged ‘Doug Casey’

Doug Casey on Insider Trading… Why Politicians Can Do it and You Can’t

Posted by M. C. on October 21, 2021

Doug Casey: As I said before, the only way you can end the practice is to get the government 100% out of the economy. Let me reemphasize this point. The government is supposed to have essentially zero to do with the economy. But today, it’s the main thing that government does.

by Doug Casey

International Man: What exactly is insider trading? Is it inherently unethical?

Doug Casey: The term insider trading is nebulous and as open to arbitrary interpretation as the Internal Revenue Code. A brief definition is to “to trade on material, non-public information.” That sounds simple enough, but in its broadest sense, it means you are a potential criminal for attempting to profit from researching a company beyond its public statements.

Is the use of insider information ethical? The government says, “No!” I say, “Absolutely, whenever the data is honestly gained, and no confidence is betrayed by disclosing or using it.” The whole concept of inside information is a floating abstraction, a witch hunter’s dream, and a bonanza for government lawyers looking to take scalps.

When the SEC prosecutes someone, it can cost millions of dollars in legal fees to defend against them. And as with most regulatory law, concepts of ethics, justice, and property rights never even enter the equation. Instead, it’s a question of arbitrary legalities.

Whether someone is prosecuted of insider trading is largely a question of who he is. A maverick researcher and a powerful government official will tend to get very different treatments. It’s also a question of the psychology and motives of the prosecutor. Insider trading is generally a non-crime that can be used in a Kafkaesque manner by upward-mobile prosecutors.

Insider trading should, at best, be the basis of a tort suit by a company if a board member betrays a trust. It shouldn’t be a crime prosecuted by the State.

Any ethical problem shouldn’t be about how information is used or who profits but whether it’s acquired honestly. Whether information is “inside” has no moral significance as long as it is honestly acquired. The market is a register of information, and impeding the free flow of knowledge in any way makes it less efficient. A morass of regulation only opens the door to real corruption. This is nothing new. Tacitus correctly said “The more numerous the laws, the more corrupt the State.”

In addition, the very concept of insider trading is ridiculous from a practical point of view. Someone always gets the information first. If an announcement is made, the people in the room who hear it first act on it first. By the time it’s published, it’s old news. It’s physically impossible for everyone to get information at the same time.

Insider trading has never cost shareholders a penny. Other actions taken by management insiders have, however, cost shareholders many billions. Regardless of the rhetoric, the name of the game in hostile takeovers and proxy battles is often management versus the shareholders. But that’s a story for another time.

International Man: In the past, politicians in Congress and elsewhere have allegedly engaged in insider trading with impunity.

Meanwhile, the penalties inflicted upon regular citizens can be severe. The maximum criminal penalty for insider trading is 20 years in prison and a $5 million fine.

What is your take on this?

Doug Casey: Congress is in a unique position to treat itself well. They control almost unlimited amounts of both power and money. Politicians really are a favored class.

The people in control of making regulations and printing money can tip off their pals subtly. This naturally lends itself to corruption. Congress critters know who’s going to get the big contract. They don’t have to buy or sell a stock themselves; a discreet tip to a trusted crony is safer. The Federal Reserve sets interest rates and controls the amount of money and credit entering the markets; they’re in a position to take advantage of this situation as well. And I have no doubt they do.

See the rest here

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Doug Casey on Some Encounters with US Deep State Sociopaths

Posted by M. C. on March 26, 2021

They were one deviation above prostitutes, conmen, spies, and thieves—they’re professional liars. Actors pretend to be somebody they’re not. Professional deceivers. Not until very recently were actors idealized. You have to respect their skills, of course. And some actors are decent people just doing a job, entertaining; I’m all for them.

International Man: Government attracts sociopathic types who are interested in wielding power over others. These are the kinds of people who rise to the top of the Deep State, the permanently entrenched bureaucracy.

You’ve met your fair share of swamp creatures. Tell us about the time you met former Vice President Dick Cheney.

Doug Casey: It was at the New Orleans Investment Conference, the year Dick Cheney was running for president. A friend of mine who took a dislike to Cheney invited me to join him at a special meeting that had been organized for Republican fat cats—potential donors to Cheney’s campaign.

Cheney was pressing the flesh and holding forth. I joined the group, and Cheney comes up to me, as he did to everybody. He says, “Dick Cheney, it’s nice to meet you,” and sticks his hand out. I looked at him and said, “Dick, I’m not going to shake hands with you. I despise you and everything you stand for.”

I thought that delivering a verbal gut blow in public might shatter his criminal persona. But he’s a skilled politician and has been around the block many times.

His comeback was, “Well, why do you say that?” That gave me 60 seconds to detail exactly why I thought he was a horrible human being. He tried not to show it, but it threw him off balance and destroyed any possibility of raising money from the assembled fat cats. I think it’s important that self-important public figures be treated appropriately, as they deserve.

About a week later, I was at another conference in San Francisco. Cheney was also there; he was attending all of the hard money/conservative conferences. He figured that attendees—wealthy, conservative Republicans—were likely donors to his campaign.

Anyway, my friend Mark Skousen ran into Cheney at the Hyatt’s business center.

Mark went up to Cheney, and to break the ice said, “Mr. Cheney, it’s nice to meet you. I understand that you met my friend Doug Casey last week in New Orleans.” I don’t think Mark was trying to wave a red flag in front of an angry bull—just being naive.

Cheney wouldn’t shake hands and refused to talk to him.

That was interesting because I would have thought that Cheney would have just disregarded me as another heckler. Apparently, my having ruined his day in New Orleans put him on a slow burn. Perhaps it ruined his week.

The next year, when I was still a trustee at Washington College, Stephen Balch, the founder of the newly formed National Association of Scholars and Trustees, invited me to join the organization. Lynn Cheney, Dick’s wife—a thoroughly distasteful pear-shaped harpy—was also at the meeting. She was being recruited as an influential bigwig. We took an immediate and visceral dislike to each other. I was subsequently disinvited to join, which came as no great surprise.

International Man: Another notable Deep State figure is former Speaker of the House, Newt Gingrich. You’ve met him several times and have even debated him on a conference stage.

Tell us about your experiences with Newt Gingrich.

Doug Casey: I met Newt also at the New Orleans conference. Although I lived in Washington DC for many years, I never associated with Deep State types. But, as I said, they often show up at financial conferences, where conservative rich people can be tapped for donations.

I had a private lunch with Newt. It was pleasant enough, although, like most conversations with politicians, completely meaningless. Newt seemed incapable of originating any thought that wasn’t a programmed talking point. Pols are experts at dodging questions—they like to limit the conversation to inoffensive subjects like the weather and the state of the roads.

I was unsuccessful in getting him to talk about any serious philosophical or historical issues. But I was able to turn the conversation to the events of 9/11—because this was only two months after they occurred.

I asked him: “What do you think about what happened to Building 7.” And, he said, “Building 7? What do you mean?”

I explained to him that it was a 47-story office building, which wasn’t hit by a plane, but nonetheless collapsed in its own footprint—as did Buildings 1 and 2—later on the same day. He looked at me and said, “What are you talking about? I’ve never heard about that. Is that right?”

I was flummoxed that somebody in his position didn’t even know that a third major building in the WTC had gone down on 9/11. The event has never been adequately explained, and nobody cares, even though its collapse confounds the laws of engineering and physics.

It was obvious to me that he sincerely knew nothing about it. Of course, Building 7 was never talked about in the news. That giant omission is inexplicable and brings up all kinds of questions about what really happened that day and who was really at fault.

I don’t think Newt had been exposed to it because these people live in a silo, where they only talk to their handlers, sycophants, and other Deep Staters in similar positions.

Newt, a leader of the Republican Party, really didn’t know anything beyond his talking points. He had no observations worth remembering about history or economics either—the two things that he was supposed to know more about than most. No doubt he’ll deny the encounter if asked about it. My parting words to him were, “Be sure to check out Building 7.” He may or may not have asked anybody else about it since he would risk being labeled a conspiracy theorist. Here is a man who passes as an intellectual in the brain-dead Republican party but who has about zero intellectual curiosity.

International Man: Many people don’t know this, but you were a classmate of Bill Clinton at Georgetown University. Can you tell us about any of your encounters with the former president?

Doug Casey: I’ve had three encounters with Bill Clinton over the years, but only two worth mentioning. I’ll dispense with stories about him worshipping at the altar of a porcelain god after a night of debauchery—so did most everybody in the class. Or that it’s said he wasn’t much of a ladies’ man in those days. I guess that came later, with political success.

Anyway, in our freshman year, Bill knocked on my dorm room door and introduced himself, saying that he was running for class president. Even then, I had no interest in politics—certainly not something as trivial as a student council president.

It was a brief conversation, and my response was something like, “Okay, nice to meet you, but student government really isn’t my bag …. ”

The next time I saw Bill was at our 25th class reunion. It was very nice of him to throw a party for our class at the White House. It was a black-tie event—a big deal because he was the president.

When the time came, I walked up to him and said, “Hey, Bill, how you doing? Nice to see you.” That’s what you say to a classmate. He looked at me very forthrightly and said, “Hey, Doug, how are you? Nice to see ya.”

I was taken aback by his apparent sincerity. Maybe he remembered me from one of the big TV shows that I’d been on and put two and two together. Maybe he has an eidetic memory. Or, maybe he just saw my name tag without tipping that fact.

One thing is certain about Bill Clinton: He’s as charming a man as you could ever hope to meet. When he’s talking to you, you feel like you’re the only person in the room and that you’re certainly the most important person in the room. My classmates who knew him well all tipped him as a likely president.

The third time was at our 50th class reunion, which was much smaller and obviously wasn’t at the White House. He was, understandably, still the center of attention. He was very affable, and a lot of guys circled around him.

One thing I remember clearly from our 25th reunion, even though the alcohol was flowing freely, was Hillary’s presence. She kept to herself, but what stuck out to me and the guys that I was talking to was that she was surrounded by four or five young, very good-looking girls. They were like a mini-Praetorian Guard. They reminded me of young velociraptors, the stars of Jurassic Park, pert and alert, their eyes darting everywhere, observing everything around her, making sure she wasn’t molested.

The cute velociraptors brought to mind a joke…. But maybe certain rumors are true…. Do you know the joke about why Chelsea Clinton is so ugly? The answer is Janet Reno was her father. That was a long time ago, of course, and some of our readers may not get it.

International Man: The American people have always been enamored with celebrities. In the past, it was movie stars and singers, but in recent years, Deep State politicians have become the new celebrities in the American public’s eyes.

What are your thoughts about that? And what does it say about society and the future?

Doug Casey: It speaks very poorly of the American people.

I think the first president who was something of a real celebrity was Teddy Roosevelt. He was, in fact, an interesting man, not just a media-manufactured personality. Adventurer, author, athlete, and Renaissance man in many ways, he would have been a boon companion to simply hang around with. But he was a horrible president. A “progressive” who encouraged every type of government activism, a “trustbuster,” and general busybody sticking the government’s nose everywhere into the country’s business. And worst of all, he was a warmonger, basically having made his bones on San Juan Hill in Cuba.

Teddy Roosevelt was the first celebrity president, starting the cult of personality in US politics.

FDR made himself into a celebrity with his great style and his fireside chats, pandering to the common man with his own money while greatly worsening and lengthening the Great Depression.

JFK was the next celebrity president. He was young, good-looking, well-spoken, and had a very pretty wife.

And, of course, Ronald Reagan, a well-intentioned actor.

As time has gone on, we’ve moved more and more toward celebrity presidents—people who build a cult of the personality around themselves. Something Stalin, Mao, Hitler did very successfully. And Third World despots all try to do.

I’ve got a feeling Hollywood will become increasingly important in politics. The public has always enjoyed watching actors, but throughout history—from ancient times—they were on the bottom rung of society. People of quality and stature didn’t want to be personally associated with them, no matter how famous they were.

Why might that be?

They were one deviation above prostitutes, conmen, spies, and thieves—they’re professional liars. Actors pretend to be somebody they’re not. Professional deceivers. Not until very recently were actors idealized. You have to respect their skills, of course. And some actors are decent people just doing a job, entertaining; I’m all for them.

But, that said, they’re generally poor role models or moral examples because the nature of acting is to project a false image. Being a skilled liar is rewarded. There’s a reason Hollywood is famous for depravity and dissipation.

There are now many actors who have mentioned their political ambitions. Not least of them are Meghan Markle and Ben Affleck.

Nowadays, fame, name recognition, and being good-looking are much more important to the public than ideas or character. It’s a very bad trend.

Editor’s Note: Sociopaths are drawn to the government. They seek power and control over others through coercion, taxation and more.

Unfortunately, there’s little any individual can practically do to change the course of these trends in motion.

The best you can and should do is to stay informed so that you can protect yourself in the best way possible.

That’s precisely why bestselling author Doug Casey and his colleagues just released an urgent new PDF report that explains what could come next and what you can do about it. Click here to download it now.

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Doug Casey on the Fed to Address Inequality And Climate Change

Posted by M. C. on December 25, 2020

Doug Casey: The Fed is one of the main creators of inequality. The Establishment, the Deep State types, and the other cronies who hang around the government are closest to the fire hydrant of money spewing from the Fed. They get their fill of it before any trickles down to the “little people.”

The solution to the problem is to abolish the Fed. But it’s so entrenched and so central to the corrupt system, that’s impossible. At least short of a monetary collapse—although a monetary collapse is in the cards. But, at a minimum, the Fed shouldn’t try to act as a social engineer.

International Man: Recently, the calls for the Fed to add a third mandate to address racial and economic inequality have grown louder.

Will we see a redistribution of wealth soon?

Doug Casey: It seems the movement towards black “reparations” is building momentum. These things always start small, testing the water, then grow when nobody either laughs at them for being stupid or decries them as evil. Most Americans are now too intimidated and confused to do that, however.

It’s similar to MMT. A year ago, the notion of Modern Monetary Theory was too outrageous a notion for a sensible person to bother considering; now, it’s practically public policy.

And, incidentally, when I say “black,” I don’t capitalize the word, as very recent politically correct fashion dictates. Capitalizing it just emphasizes and accentuates racial differences—as do most “woke” practices.

It’s another sign of the mass insanity that’s sweeping the world. Like almost everybody wearing masks when walking down the street, or even bicycling in the countryside. Not to mention locking down the whole country, practically the entire world, like a prison. It’s quite ironic to me. In the past, I’ve often joked that the Earth was a prison planet. Now it’s no joke.

Anyway, the idea of reparations is even more insane, but it’s taking off. It’s the destructive, racist idea of affirmative action on steroids.

It’s one genuinely crazy thing after another, like NASDAQ requiring listed companies to have at least two board members of so-called minority groups, including one non-white person and one with a sexual aberration.

Movies are expected to have the same kind of composition now. You see it to a large degree in commercials on TV. When I watch the boob-tube, I feel like I’m the only straight white male left in the US.

The discrimination against Asians is equally criminal, especially when it comes to getting into college. If you’re a smart and hard-working Asian, you now have to be even smarter and harder working to compete.

These PC fools are making accidents of birth into defining features of existence. The only good thing about the trend is that these people may be overreaching and will self-destruct. Hopefully, that will happen before they destroy society itself.

International Man: Federal Reserve Chairman Jerome Powell has spoken in length about the Fed’s interest to address economic inequality.

Ironically, the one institution that is single-handedly responsible for destructive monetary policies and money printing of epic proportions plans to do more of the same to “solve” the very problem they created.

What are your thoughts on this?

Doug Casey: The Fed is one of the main creators of inequality. The Establishment, the Deep State types, and the other cronies who hang around the government are closest to the fire hydrant of money spewing from the Fed. They get their fill of it before any trickles down to the “little people.”

The solution to the problem is to abolish the Fed. But it’s so entrenched and so central to the corrupt system, that’s impossible. At least short of a monetary collapse—although a monetary collapse is in the cards. But, at a minimum, the Fed shouldn’t try to act as a social engineer.

It certainly shouldn’t give money to blacks just because they’re black in the form of reparations or for any other reason. The notion is criminally stupid. All exchange must be mutual and free. If it’s not, it breeds resentment for both the giver and the receiver.

Free stuff, like welfare and free government housing, has already destroyed black families and black individuals. Places like Cabrini-Green and Pruitt-Igoe are monuments to government planning. If the Fed gets involved in passing out more free money, it’s only going to cement the average black more solidly to the bottom of society and create more race antagonism.

Well-positioned blacks like Jesse Jackson, Al Sharpton, Maxine Waters, and hundreds of others who are getting rich by virtue of being black are all for it, of course. There’s big money in disguising race-baiting as virtue signaling.

International Man: Recently, Joe Biden announced that he would nominate former Fed Chairman Janet Yellen for US Treasury Secretary. In her first remarks, Yellen spoke about her plans to address racial disparities and inequality.

Is there a trend developing here where racial and economic inequality has become the justification for dangerous monetary policies?

Doug Casey: Race has become a justification for practically everything today. Deep State types in general, and the Democrats in particular, emphasize race and gender differences, which does nothing but aggravate the situation.

This nomination is an excellent deal for Yellen, who’s moved from being a nothing nobody academic to Fed Chair, and now Treasury Secretary. By the time she finishes her term in office, she’ll be a centimillionaire—the usual drill, six-figure speeches, seven-figure book contracts, fat directors fees, consulting fees, and insider investment deals. She’ll do well for someone who has zero business experience and has detracted hugely from the world’s real wealth.

She’s a model for the kind of people who want to go into government to become rich and famous.

International Man: Fed chairman Powell has made countless remarks about the need for the US central bank to address climate change.

What is going on here?

Doug Casey: It’s a good question.

How can they address the so-called problem of climate change? Climate change has been going on since the Earth came together 4.5 billion years ago, and it will continue on its own path, primarily influenced by the sun and secondarily by things like volcanism, cosmic rays, and peculiarities of the planets orbit, long after mankind has gone.

But destroying the economy by printing up more money certainly isn’t an answer to climate change. However, I’m sure that what’s on Powell’s mind is making money easier to get for things like windmills and solar panels. This is more state direction of investment. It was a disaster for the USSR and every other socialist and state-directed economy and will be for us as well.

You’ll notice that the Chinese and other Asian economies don’t indulge in this kind of politically correct investing. It’s a major reason why they’re on the way up, and we’re on the way down.

Janet and Jerome’s excellent adventure in climate engineering won’t end well.

International Man: With climate change and racial inequality, the Fed is creating all sorts of new ridiculous pretexts to justify whatever it wants to do. It would be comical if the consequences weren’t so destructive. What do you think comes next?

Doug Casey: At this point, the Federal Reserve, which most Americans barely even know exists, has become extremely important to everybody.

It’s now the main source of government income—greater even than the income tax—and this is likely to continue. Agencies like the Fed grow when they have unlimited funding. But it’s more than just mission creep at this point.

We saw mission creep during the Vietnam war and all other wars. Now the Fed has been enlisted to fight the war on poverty, the war on racism, and global warming. The problem is that war is the health of the State—but a catastrophe for society.

The Fed started out as essentially a clearinghouse for banks; it was instructed to maintain the value of the currency. It has totally failed at that mission since its creation. The US dollar was stable from 1789 up until 1913 when the Fed was instituted. Since then, the dollar lost has about 97% of its value, and the degeneration is radically accelerating.

Now the Fed is supposed to ensure full employment, racial and gender equality, and sunny days in addition. The next abomination will be Fed Coin, a digital dollar, which will eliminate all privacy from financial transactions.

I don’t think anything can turn the situation around at this point. The only thing you can do is become as wealthy as possible to insulate yourself.

The next step will be something resembling World War III, probably with China. The US will turn into a police state, which in many ways, it was during World Wars I and  II.

It’s going to be much more serious this time around.

Editor’s Note: Economically, politically, and socially, the United States seems to be headed down a path that’s not only inconsistent with the founding principles of the country, but accelerating quickly toward boundless decay.

In the years ahead, there will likely be much less stability of any kind.

That’s exactly why New York Times bestselling author Doug Casey and his team just released an urgent new report titled Doug Casey’s Top 7 Predictions for the Raging 2020s.

Click here to download the free PDF now.

Be seeing you

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Doug Casey on Toxic Masculinity and White Privilege – Casey Research

Posted by M. C. on January 26, 2019

Let me draw your attention to the fact there is no limit to how far out of control stupidity can get. Einstein was right. After hydrogen, it’s the most common thing in the universe.


Justin’s note: Gillette thinks men can do better.

The razor company made this clear in a controversial ad that came out on January 13. If you haven’t seen it yet, I suggest you take a couple minutes to watch it. As you’ll see, it’s a clear response to the #MeToo movement and the ongoing war on “toxic masculinity.”

It shouldn’t come as a surprise that there were a lot of strong opinions regarding it. Some people love it. Others despise it. But I wanted to hear what Doug Casey thought… So I called him up last week.

Below, Doug shares his thoughts on the ad… toxic masculinity… as well as white privilege.

Just a forewarning, this is one of the most controversial Conversations With Casey we’ve ever published. You might want to skip reading this one if you’re easily offended.

Justin: Doug, what did you think of that Gillette ad?

Doug: The first thing that came to mind was that, when I was a kid in the ’50s, Schick razors used to sponsor boxing on television. Boxing, ritualized unarmed combat, is about the height of masculinity. It was, logically, sponsored by a razor company.

Now, we have a razor company that’s saying that almost any kind of masculinity is toxic. It’s a complete turnaround, an inversion. And, just as an FYI, Schick has run ads making the same point. As have Dollar Shave Club and Harry’s – both of which are owned by major corporations. I never previously cared what kind of razor I used – never even noticed the brand. But I’m simply not going to buy their stuff from now on, simply because I refuse to support these despicable people even on the tiniest level. I suppose I’ll give Porter Stansberry’s OneBlade razor a second shot. It’s a great shave, just rather retro.

Anyway, the Gillette ad basically says you should be ashamed to be a man, particularly if you’re a white man. The ad – which happens to have been directed by a woman I’ll describe as borderline psychotic – portrays men as horrible human beings. I haven’t done a count, but the only men even trying to do the right thing and moderate so-called toxic masculinity, are black men. So it’s not just that being a man is bad, but being a white man is particularly bad. No wonder 60,000 American white men commit suicide with opioids every year.

This is just one of many signs of the accelerating collapse of Western civilization and everything it stands for. Read the rest of this entry »

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Doug Casey on Asset Seizures – Casey Research

Posted by M. C. on August 27, 2017

Sessions is the U.S. Attorney General. Since taking office in February, he’s done all sorts of idiotic things. He’s threatened to crack down on the legal marijuana market. He’s attacked gay rights.

And now, he wants to amp up asset seizures.

This is when the government takes money and property from people. You don’t even need to be convicted of a crime.

It’s a disturbing development, to say the least. That’s why I called Doug Casey as soon as I heard about it… Read the rest of this entry »

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Project: FEDcoin – Fight Going Cashless Like Your Life Depends On It Because It Does.

Posted by M. C. on May 6, 2017

The Dangers of Digital Money

Doug, this sounds like a real benefit…

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 are 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 is no reason to trust a digital, computerized economy as the National Bank of Bangladesh found out not very long ago. They had $81 million deposited with the New York Fed. The New York Fed was hacked and the National Bank of Bangladesh lost $81 million. Have they gotten it back? No. Will they get it back? No.

Read the rest of this entry »

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