18.10 The Plenary Session starts, Douglas Casey is the speaker, founder of Casey Research. He is also an author, editor, and investor. He has written “Crisis Investing” and “Strategic Investing”, two best sellers; and appeared on shows with David Letterman, Charlie Rose, Phil Donahue, NBC News and the CNN.
“First, van a perrrdonarmeporrr mi pobrecastellano, I talk spanish like a vacaalemana“. He starts calling himself as a super liberal.
Then he continues saying: “I was listening to the previous speakers, and I… I lived in a different world!!!”. He follows with: “Why? stupid bankers and economist, that is true” But he adds: “Government interfere in the economy, with Taxes, Regulation, and inflation of the currency”. He explains it is “crazy” to think that Government is going to solve our problems if they have creat them.
After he says why he thinks that “this depression has just started”. But he argues: “crisis, has a danger and an opportunity”.
He adds another idea as well by saying there are two kinds of people: “people who believe in voluntarism, and people who believe in cohesion”.
Hold on…. more ideas against the “system”, I have to say this guy is almost arguing about everything developed in this world, starting with Governments, Education, and… I would say any human action that tries to influence another persons life. But lets continue listening because it is really great to see someone say this kind of things…
To sum up, he asks “Which is the opportunity? In a free market world (which we don’t have in the USA), I have to be an investor. In a political crazy environment you have to be a speculator. I have invested money in Argentina, I must be mad, this is the worst country in the world to invest”. As an Argentinian (and proud of it) that I am, nothing to add about that. :(
To an end, he introduces what are the “three verbs that define a person”:
Have (physical): this is the less important.
Be is the important, and how do you be, with education. he believes in a liberal education.
Do, which is what you learn in the university, and it is not so important.
He finishes saying that if the audience wants to listen more about what was talked, in his website there are weekly conversation: caseyresearch.com —> conversations
18.42 He opens the talk to questions, and the participants go “mad” about what said.
Honestly, I have to say, as a former organizer of the South American Business Forum, who has participated of all the conferences since the beginning, that this has been the most controversial speech we had, and the questions to him are reflecting it. ;)
Photos were taken by Pablo Mekler
*Read what others wrote about it: *A Shocking Presentation from a Master Speculator by Tom Dyson, Daily Wealth.