Discussion in 'YouTube Digest' started by ozcopper, Aug 13, 2014.
He looks so young
(Interview date November 1980)
Key points so far are;
The depression may start by 1983 Buy gold... .
Predicts gold at $1650 to $3400 in the next 5 years, says you should put 50% of your money in gold. (If you did you would have lost a fortune)
Dow is at 900 and may triple before crashing...
Predicts US Gov't will put on foreign exchange controls.
Predicts fast food chains will be the first to die :lol:
You will be safer in the stock market than real estate
America is becoming socialist...
Get out of collectables...
Now is the time to sell real estate, its peak was 1965....
You don't want money in a bank....
Stay out of diamonds....
Drugs should be legal.... although he is anti drugs.
Youth have to think for themselves... not all kids should go to college
Swiss Franc is the strongest currency in the world....
Is anti income tax....
Talks about Bunker Hunt and silver
Be a contrarian investor
He comes from a wealthy family but got nothing from them
Structure your affairs off shore....
One person invested $10,000 at $22 an oz in silver (34 years later the price is lower)
Doug thinks silver will be priced more than gold.
His gold investment advice at the time would have really hurt anyone who took it.
Flippin' heck! Imagine they'd put the $10k into real estate in Redfern or Newtown...
No idea who this guy is, never heard of him but cool to watch
The Doom and Gloom business appears to be an industry in the USA.
Also, for a hammer, everything looks like a nail.
Rickards is the Doug Casey of today?
Doug Casey is still big today: http://www.caseyresearch.com/ & http://en.wikipedia.org/wiki/Doug_Casey
"Voting in itself could be considered an immoral act" at 3.45mins. Audience stunned and outraged. Blasphemy!
This is amazing to watch.
This guy was so very wrong.
All of the questions that were asked ARE JUST AS RELEVANT TODAY.
This leads me to believe that as everything changes ,so do they stay exactly the same.
This is the proof of cycles.
The more things change ,the more they stay the same.
We just need to learn to recognize the new face put on the old problems.
Great find Oz
I was just looking for this old interview that Doug Casey mentioned in the *Reluctant Preppers Video just out today.
I have seen the Donahue Interview a few times, but a lot of Newbies will not have seen it.
The GGLE search threw up the link to this thread (amazing). *BELOW.
"I have seen the Donahue Interview a few times".
Hindsight is 20/20. I don't think the next 34 years will be as kind to real estate. It is increasingly becoming the path to financial oppression. A fixed asset the government can (and will) tax as they please.
This Thread was started by @ozcopper in August 2014 & lay dormant after march 2015.
The next 34 years will be just as similar, if not exactly, as kind as the last 34 years.
As opposed to all the other assets they can and will tax as they please?
Should I take your word
Absentee land tax
Higher council rates for investors
Vacancy fee for foreign owners
Capital gains tax
Higher mortgage % for investors
Negative real returns
As opposed to assets which can be moved to another country where taxes are more favorable (cash, gold, crypto, businesses, intellectual property, ... etc).
Might as well, as good as anyone else’s guess. But the past 130 years favour my word.
So homeowners would generally only be paying council rates and CGT from that list. And investors have the tax man and tenant paying the significant majority of their mortgage.
Pretty sure most who bought a house 10,15,20+ years ago wouldn’t be defined as financially oppressed. The average Aus homeowner has $242k worth of equity, NSW has $360k.
Part of the trade off, isn’t it.
Though not sure what taxes you’re paying on cash, gold and crypto...
Separate names with a comma.