Editor's note: Last month, legendary speculator and New York Times best-selling author Doug Casey gave one of the best presentations of the year.
If you've ever heard Doug speak, you know his controversial opinions always rile up the room. And this time was no different.
In today's edition of our weekend Masters Series – adapted from his speech at the Casey Research Summit last month – Doug discussed "the perversion of words" and shared the opportunities he sees today...
What Doug Casey Is Buying Today
Adapted from a presentation by Doug Casey, chairman, Casey Research
Doug said politicians have tried to change the definition of certain words...
"The politicians use these words to control the conversation... and all the monkeys follow along," Doug said.
"Take the word 'stimulate,' as in 'stimulate the economy,'" he said. "Where did that term come from? It really just means 'print up money.' But calling it what it is sounds bad. Politicians don't want to say 'print money.' So they use terms like 'stimulate' and 'quantitative easing' instead."
Doug also criticized the way politicians talk about health care...
"'Health care' is something you do for yourself. It's diet, it's exercise, it's prudent habits. That's what gives you health. Your insurance policy, whether Obamacare or something else, can't maintain your health," he said.
"The political classes say 'health care' because everyone wants to be healthy. But what they're really talking about is medical care. Of course, they don't use the term 'medical care' because it sounds scary. You think of anesthesia and doctors cutting into you. This is why it's so easy to sell health insurance to the average chimpanzee. Everybody wants to insure their health."
And Doug debunked the value of diversity...
If you've paid any attention to politics in the last couple of years, you know that diversity is a hot topic. According to many politicians (especially Democrats), it's extremely important for every race and gender to be equally represented in all areas of life.
Doug has a different view...
"Why do we need diversity? I don't see why every room has to have a few blacks, a few Hispanics, and be half-filled with women. Birds of a feather usually flock together. It's perfectly natural to have more of one race or gender in a given situation," he said.
"I form my friendships not based upon diversity or the lack of diversity. I form my friendships on the basis of people's character. The fact that diversity is a priority today... it emphasizes the entirely wrong thing."
Doug even explained why most people misuse the word "factoid"...
"People use the word 'factoid' interchangeably with 'fact,'" Doug said. "Most people think factoid means a small or insignificant fact. But do you know what factoid actually means? An asteroid is something that looks like a star, but isn't. An android is something that looks like a person, but isn't. A factoid is something that looks like a fact, but isn't. It's a phony, made-up fact. That's what the suffix '-oid' means."
Doug also took issue with terms like the "Department of Defense," the modern definition of "inflation," and many other words with warped meanings...
Doug was so fired up that his talk went 20 minutes long. Ultimately, the conference planners had to ask him to wrap it up.
The audience, however, enjoyed it quite a bit. They even gave him a roaring round of applause as he left the stage.
Later in the day, Doug told Summit attendees what he's buying and selling right now...
During a panel called "Economic Crisis: How to Survive and Thrive," Doug said that gold and most other commodities have likely turned up.
He also said that "there are some real opportunities at this moment" in commodities.
Regular readers know that most commodities are extremely cheap right now. The Bloomberg Commodity Index, which measures 22 different commodities, is at its lowest level since 1999.
Doug told the crowd that he has made bullish bets on coffee and sugar. Coffee is down 44% in the last year. Sugar is down 7% in the last year... and that's after a 40% rally since September 1.
Editor's note: Like Porter, Doug Casey believes the U.S. is facing an enormous currency crisis... and your personal wealth is at risk. That's why he recently published a book called Going Global 2015, which is filled with Doug's best techniques and tips for surviving and even prospering during this crisis.
In it, he discusses opening foreign bank accounts... the importance of owning physical gold... investing in other countries' stock markets... and much, much more. To claim your copy, click here.