Doug Casey is an American free-market market economist, financial author and entrepreneur. He has been writing a monthly investment newsletter, the International Speculator since 1979 and I always find his ideas quite refreshing. He is also somewhat of a perma gold bull, but nevertheless argues his case convincingly, as gleaned from the interview below with Louis James, editor of the International Speculator.

But before getting stuck in the discussion, Adam Hewison’s (INO.com) has just produced a short technical analysis of the short-term direction of gold. Click here to access the presentation.

Here is the first section of Casey’s interview:

L: Doug, we’ve talked about cars, cows, and cash, but the investment world thinks of you as a gold bug, so let’s give that a go; why gold?

Doug: Sure. First of all, it’s because gold is actually money. It’s an

The trouble with being a contrarian is that you can never be quite contrarian enough.

We began having doubts about the ‘feds inflate… gold soars’ hypothesis last year. It was too easy… too obvious. And if it were that easy to inflate a nation’s currency, how come the Japanese couldn’t get the hang of it in the ‘90s?

So, we moved towards a contrarian position – inflation, yes… but not for a while. And gold? Well, we are in it for the long run. In the short run, anything could happen.

To clarify our view on gold, the Daily Reckoning is not bearish on the metal. It is not bullish on the metal either. It is buggish. We are gold bugs. In the long run, gold will retain its value. Since that’s all we ask of it, we are always satisfied. Even if it is down in the short

What’s the true cause of inflation? Jimmy Carter underrated? Really? And what makes Von Mises right after all these years? Read on to find out…Thank you (once again) for all your excellent responses on the Obama-Carter connection. When your thoughts and comments roll in, my only lament is a lack of space in which to reply.

Well, that and one other small quibble. Where are all the haters? Surely more of you must think I’m off my rocker, or otherwise dead wrong somehow. Let’s start off with a rare bit of snark just for sport…

The lessons learned from the past…8 years of taking us down…and now a dynamic leader trying to pull it together…and presenting a better picture of America to the world…now, can you or Rush Bimbo do that?

– TD reader NB

Rush who? I’m not up on the guy, as I haven’t paid attention to him since the early ’90s.

Alex’s Notes: Do not take this as “everyone” is buying gold. Very few are. the fact is, the gold market is so small, that 1% of what is in equities and other paper instruments would cause the price to absolutely skyrocket to clear the market.

One thing I have noticed over my time being involved in the gold industry: Anytime that it seems the gold price is about to seriously break out, there is an announcement of an intention to sell IMF gold. The funny thing is, that gold will never see the streets, as it will instantly get bought up by a Central Bank.

It usually does however, have the effect of temporarily pushing the price down. Oh how easily the sheople are duped.

*****

By Sarah Marsh and Jan Harvey

VIENNA/LONDON (Reuters) - In the heart of Vienna in a Biedermeier building commissioned by Emperor Franz I,

Alex’s Notes: Do not take this as “everyone” is buying gold. Very few are. the fact is, the gold market is so small, that 1% of what is in equities and other paper instruments would cause the price to absolutely skyrocket to clear the market.

One thing I have noticed over my time being involved in the gold industry: Anytime that it seems the gold price is about to seriously break out, there is an announcement of an intention to sell IMF gold. The funny thing is, that gold will never see the streets, as it will instantly get bought up by a Central Bank.

It usually does however, have the effect of temporarily pushing the price down. Oh how easily the sheople are duped.

*****

By Sarah Marsh and Jan Harvey

VIENNA/LONDON (Reuters) - In the heart of Vienna in a Biedermeier building commissioned by Emperor Franz I,

Three cheers for Topolanek!

Never heard of him? Neither had we until this morning. But on the front page of today’s Financial Times, we discover two extraordinary things. Topolanek is the Prime Minister of the Czech Republic (and coincidentally, president of the European Union). And, he has a very accurate road map.

“The US is repeating mistakes from the 1930s,” he says, “such as wide-ranging stimuluses, protectionist tendencies and appeals, the Buy American campaign and so on. All these steps, their combination and their permanency, are the road to hell.”

We’ve said so ourselves. Many times. But we are surprised to find the president of the world’s biggest and richest economy – Europe – say so. It made us feel funny…odd…as if we weren’t alone in the world after all…as if we had a friend. And a friend in a high place.

At least, he was in a high place this week. He lost

Offshore Investing: Smart Ways to Keep Your Money Safe

by Alexander Green, Oxford Club Investment Director

According to the World Bank, more than half of the world’s personal wealth - over $50 trillion - is stashed in about 60 or so asset and tax havens worldwide. 

More than a third of it is in Switzerland, comfortably secure in that nation’s bank vaults.  The rest is stashed away in Hong Kong, the Cayman Islands, Panama, Bermuda, the Isle of Man and other protected havens.

What do all these rich people know that you don’t?

Plenty. But their secrets are finally revealed in a fascinating new book by Erika Nolen and Shannon Crouch of The Sovereign Society. It’s called “Offshore Investments That Safeguard Your Cash: Learn How Savvy Investors Grow and Protect Their Wealth.” 

Reasons for Offshore Investing 

Why would you even consider going offshore with your investments?  Let me count the ways:

The money-printing hand writing is on the wall, says Justice Litle. A severe inflation threat is on the horizon. But the bond market is still pricing in a bout of deflation. And that makes Treasury Inflation Protected Securities (TIPS) an amazing deal right now.

This from Taipan Daily:

The euro is fast approaching an inflection point.

On Jan. 15th – Thursday of this week – the ECB (European Central Bank) will meet to decide how much to cut interest rates. The general consensus is that the cut will be big.

I wonder if the euro will “pull a sterling” and go up instead of down on the news. The chart certainly leaves room for that possibility.

As you can see, the euro’s move higher in December was sharp and swift. The ensuing downdraft has been more of a sideways lurch, creating something of a wedge

Source: Adrian Ash, Bullion Vault  09/08/2008
“…My God, this is the time. If everyone wants gold we’re all going to be ruined, because there is not enough gold to go around…” – J.F.K. to the Fed chairman, Aug. 1962

ONCE UPON A TIME money meant gold (and ever less silver), freely exchanged between private individuals looking to buy and sell, invest and spend.

But then came the 20th century.

There had been experiments with “fiat money” before. Most famously in 13th century China, 18th century France and Civil War America, paper was issued as currency without gold (or silver) to back it. There was no gold content or value, just the promise – dictated by emperors, kings and army commanders – that other people would accept it in payment.

The foot-soldiers would make sure of that. So you’d better accept it, or else.

Hence the name “fiat” – from the Latin – meaning “Let it …