Buckshot Survival Hour

Doug Casey on the Violence of the Storm, the Destruction of the Middle Class and the Coming Gold Standard http://www.lewrockwell.com/holland/holland30.1.html Daily Bell: Are we still headed for a Greater Depression? Doug Casey: There is no question about that as far as I am concerned. The Greater Depression has started in earnest. Let's define the term. A depression is a period of time when most people's standard of living drops significantly; that's actually happening in the United States. Another definition of a depression is a period of time when distortions and misallocations of capital in the economy are liquidated – that happens largely through bankruptcies and unemployment. Both of those things are already high, and are going to increase significantly. Regrettably, and unnecessarily, the Greater Depression is going to last a long time. It was caused by government intervention in the economy, and the government is ensuring it will go on much longer than need be. We can't talk about recovery in a matter of months or even in a couple of years. I'm afraid this is going to be quite dismal for a lot of people ... Daily Bell: How about silver? Doug Casey: Silver could be better than gold because gold has gotten so expensive. It is the poor man's gold. But it's also a hi-tech metal with increasing uses. Of the 92 elements, it's the most reflective and conductive. I continue to be a bull on silver.