Doug Casey's Take

Find us at www.crisisinvesting.com Doug and Matt discuss a podcast featuring MIT professor Ted Postel, agreeing the Iran war is an escalating catastrophe with unavoidable, chaotic economic consequences driven by higher petroleum prices. They answer subscriber questions on how rising diesel impacts mining all-in sustaining costs (estimated 10–25%), how to identify viable new business ideas by solving real problems, and how Doug would start investing today by focusing on currently cheap resource stocks while avoiding becoming a one-trick pony. Doug recounts a few tense travel encounters (Haiti and Congo), outlines private placement risks (illiquidity and funding needy companies) and rewards (discounts and warrants), and says no clear asymmetric trade exists without reliable on-the-ground information. They cover music royalties, Brazil travel and bureaucracy, vaccine skepticism, corn's subsidies versus a bullish ag view, draft avoidance uncertainty, 401(k) dilemmas, dollar devaluation and gold, numismatics demand issues, and Hydrograph as a high-risk speculation where taking a "Casey Free Ride" is prudent. 00:00 Subscriber Q&A Kickoff 00:37 Podcast Takeaways on War 02:20 Economic Shock and Energy Reality 05:11 Mining Costs vs Diesel Spike 06:23 Finding a Business Pain Point 07:42 Starting Investing Today 09:18 Dangerous Travel Stories 13:42 Private Placements Risks 15:23 Asymmetric Bets in Iran War 18:08 Professor Jiang on Long War 21:11 Music Royalties and Dire Straits 22:17 Brazil Outlook and Regions 23:10 Brazil Travel Reality 24:23 Visas And Travel Tightening 25:16 Covid Vaccine Skepticism 27:29 Corn Subsidy Machine 30:08 Corn As Investment 32:05 Draft Avoidance Talk 33:45 Protecting 401k Savings 35:39 Dollar Devaluation And Gold 39:10 Numismatics Exit Strategy 40:40 Women And Preparedness 41:39 Buying Hydrograph Shares 42:52 Hydrograph Buy More Guidance 44:24 Free Ride Speculation Lesson 45:30 Wrap Up And Next Week

Join us at https://www.crisisinvesting.com The hosts revive a "day in history" segment highlighting William Tyndale's 1523 English Bible translation and argue that Sir Thomas More, though revered as a saint, used authorities to hunt down and execute Tyndale. They then discuss the speaker's recent luncheon talk in Argentina for Rand Paul during his visit, where he said Javier Milei's election is historically important but criticized Milei for not acting like an anarcho-capitalist, citing failures such as not abolishing the central bank, moving Argentina's gold abroad, buying used F-16s, seeking NATO/Ukraine/Israel ties, and keeping foreign exchange controls. They note a $96 homemade MANPADS prototype as evidence of democratized warfare, then assess the US-Iran conflict's changing warfare dynamics, vulnerability of carriers, and risks from Strait of Hormuz disruptions, UAE and Houthi escalation, and attacks on Russian facilities, warning of recession/depression amid rising rates, private credit stress, an AI/data-center bubble, and overvalued markets, while remaining bullish but cautious on gold, gold stocks, and select oil stocks. 00:00 This Day in History Returns 00:24 Tyndale and English Bible 02:48 Saint Thomas More Exposed 04:35 Speech for Rand Paul 05:31 Milei Not Walking Talk 06:45 Gold and Central Bank 08:11 F-16s and NATO Drift 10:52 DIY Manpad and Weapons 12:44 Iran War Lessons 14:21 Carriers and Tankers Vulnerable 15:06 Trump Hegseth and War Spin 19:54 Why War Won't End 20:43 War Versus Energy Shock 22:03 UAE Escalation Risks 23:24 Houthis and Red Sea Chokepoints 24:31 Ukraine Strikes and Blowback 25:48 Iranian Resolve and Retaliation 27:15 Israel and Nuclear Escalation 29:32 Oil Flow and Debt Spiral 31:28 Private Credit and AI Bubble 35:40 Markets in Denial 38:54 Gold and Oil Positioning 40:33 Democratized Warfare Ahead 41:28 Wrap Up and Next Episode

Former Sprott CEO Kevin Bambrough on Hydrograph: Fractal Graphene, Nanotech's Breakout Moment Podcast hosts interview Kevin Bambrough, author and former Sprott CEO, about why he became a major shareholder in Hydrograph and why he believes graphene—specifically Hydrograph's turbo-stratic, fractal graphene aggregates—solves key industry problems like clumping and poor dispersion that plagued earlier graphite-derived approaches. Bambrough recounts his investing background and explains graphene's sought-after properties (strength, conductivity, EMF shielding) and why Hydrograph's purity and SP2 bonding matter for real-world applications. The panel discusses potential use cases across polymers, coatings, tires, construction materials, batteries, semiconductors, and military needs, plus Hydrograph's patent moat and licensing potential. They cover manufacturing via acetylene/oxygen combustion in a chamber, economics such as a stated $250,000/ton price with far lower required loadings, modular "Hyperion" scaling, work with dozens of companies, and catalysts like EPA approvals, a possible Nasdaq listing, and a Texas gas-plant partnership, while noting execution and IP/theft as key risks. 00:00 Meet Kevin Bambrough 00:32 From Computers to Markets 01:57 Sprott Years and Track Record 03:19 Discovering Hydrograph 05:36 Graphene Hype vs Reality 07:46 Why Graphene Matters 11:21 Hydrograph Fractal Advantage 16:06 Sci Fi Use Cases 20:47 AI Accelerates Innovation 23:26 Moat Patents and Monopoly 26:42 Is the Stock a Bubble 30:59 Flow State Deep Research 35:38 Graphene Types and Construction 40:08 How the Graphene Is Made 41:48 Detonation Cycle Basics 42:34 Fractal Graphene Formation 43:58 Pricing And Battery Value 45:57 Polymer Bottles And Low Loading 49:13 Unit Economics And Scaling 51:59 First Customers And Auto Wins 56:24 Texas Gas Plant Expansion 59:16 Risks Patents And Execution 01:08:51 Catalysts Nasdaq And Deals 01:16:00 Final Takeaways And Wrap

an Supply Destruction, Energy Shortages, and Why Gold Miners Are Still Hated Doug and Matt discuss escalating conflict in Iran, including attacks on production/refining/shipping facilities and the potential closure of the Strait of Hormuz, arguing markets are underpricing the resulting supply destruction and global knock-on effects already seen in Asia (fuel shortages, reduced air travel, four-day work weeks). They criticize Trump's actions and messaging, speculate about political fallout, and note reported U.S. losses and broader regional disruption, including Dubai's tourism/finance and potential UAE banking stress. They react to Trump promoting watches and seeking a commemorative gold coin, then shift to investing: favoring commodity exposure (corn and possibly rice) due to fertilizer impacts, and urging gradual buying of cheap gold miners given extremely bearish sentiment and low P/E ratios. Subscriber Q&A covers Argentina relocation choices, Uruguay conference timing, "Great Reset" debate, drones, Falklands, media sources, short-term cash parking, war propaganda, carbon credits skepticism, mining catalysts (notably drill results in a bull market), and a coming interview with Hydrograph's largest shareholder pitching a potential 100-to-1 case. 00:00 Iran Strikes Escalate 03:42 Energy Shockwaves Worldwide 07:35 Dubai Fallout and Bank Risk 09:07 Trump Watch Ad Controversy 10:44 Coin Proposal and Removal Talk 12:25 War Losses and Ground Invasion Fears 14:36 Spending Blowout and Staff Resignations 19:02 Insulating With Commodities 20:15 Argentina Relocation Picks 21:54 Subscriber Q and Great Reset Debate 25:26 Drone Delivery Future 26:04 Falklands Refuge Reality 27:44 Rubicon Deep State Show 28:13 Assessing Escobar Sources 29:43 Buying Gold Miners Dip 31:46 Learning Markets Slowly 32:27 Red Pilling Youth Ethics 36:52 Parking Cash Safely 37:39 Iran War Propaganda Logic 40:54 Carbon Streaming Skepticism 42:19 Miners Sentiment Catalysts 45:40 Junior Miner 10x Triggers 47:41 Hydrograph Interview Tease 49:09 Weekend Sign Off

Find us at www.crisisinvesting.com Doug and Matt discuss a Palantir Maven Smart System demo that fuses multiple military data feeds into one targeting workflow, likening it to "Skynet" and warning that removing the final human approval is near. They cover Anthropic's stance on not enabling "evil" uses versus dependence on government contracts, and debate whether massive AI data center spending could become stranded as models advance quickly and projects like "Stargate" fall apart. Member questions address biometric border expansion and the end of travel privacy, lab-grown/transmuted gold and future supply from seawater, kelp, and asteroids, Cuba's likely collapse and negotiations with the U.S., AI data center local costs, offshore gold storage and impending FX controls, City of London conspiracy claims, portfolio implications of Iran-related oil disruptions, gold miners vs juniors, broker access to Canada, stop-loss risks, Uruguay/Argentina as safer regions, and tech/nanotech as hardest to analyze. 00:00 Palantir Skynet Demo 04:24 Anthropic vs Pentagon 06:25 AI Data Center Bubble 10:19 Buenos Aires Round Table 12:59 Tourism Overcrowding 16:00 Air Travel Breaking Down 19:33 Biometrics and Travel Privacy 23:30 Lab Grown Gold Explained 25:54 Cuba Next on the List 28:17 Local Costs of Data Centers 30:04 Data Center Bubble 30:38 Offshore Gold Storage 32:44 City of London Myths 36:18 Oil Stocks and War 38:21 Gold Miners Strategy 41:42 Accessing Canadian Stocks 43:10 Stop Loss Debate 46:05 Uruguay as Safe Haven 49:16 Israel Iran Motives 53:07 Hardest Stocks to Analyze 55:05 Wealth Transfer Prep 56:35 Wrap Up and Next Week

Oil Spikes, Strait of Hormuz Disruption, and War Psychology: Doug on the Iran Conflict and Market Risk Doug and the host discuss how oil futures briefly hit $120 amid escalating conflict involving Iran, arguing markets still aren't fully pricing the risks. They call the US action an unprovoked war, stress that wartime information is unreliable, and predict a long conflict followed by a major psychological campaign to build US public support, similar to COVID-era shifts. They cite reported destruction or severe damage to expensive US assets in the Gulf, disruption fears in places like Dubai, and the Strait of Hormuz being effectively closed, taking roughly 20% of global oil supply offline and prompting early global moves like rationing and price controls. They warn government interventions can worsen economic fallout, discuss positioning in commodities (notably a corn ETF) and oil stocks, and advise Americans to "panic early," prepare for fuel/food shocks, possible cyberattacks, and broader supply-chain instability. 00:00 Market Shock and Oil Spike 00:38 Unprovoked War and Propaganda 04:10 Backlash and Free Speech Costs 07:10 Long War and Public Psyops 09:32 Gulf Escalation and Energy Crunch 13:02 Government Meddling and Trade Ideas 22:03 Global Shipping Norms Unravel 28:00 Prepare Early for Domestic Fallout 32:25 Boots on the Ground and Wrap Up

Markets, Middle East Escalation, and Global Risk: Subscriber Q&A on Investing, Relocation, and Ethics Doug and Matt answer subscriber questions, focusing first on an escalating conflict involving Iran and the Gulf that they view as extremely serious despite a muted market response; Doug says stock and bond markets are overpriced, warns of a potential crash, criticizes demands like "unconditional surrender," questions U.S. involvement (including insuring ships in the Strait of Hormuz), and expects global economic spillovers, noting Gulf vulnerabilities such as desalination, food supply chains, and remittances. They then discuss Paraguay's unusual culture and land-based investment opportunities, dividend investing (noting oil stocks), practicalities of living/investing in Uruguay and Argentina (including taxes and policy changes under Milei), resource investing diligence, when to sell gold/silver, IPO lockup/exit issues, storing metals abroad, and conclude with a discussion of ethical decision-making frameworks and concerns about political leadership's morality. 00:00 Market Reaction to Iran 01:06 Overpriced Markets Warning 02:50 Gulf Risks and Dubai 04:08 Unconditional Surrender Debate 05:12 Strait Insurance Plan 06:49 Who Benefits From War 08:27 Regional Spillover Effects 10:21 Supply Chains and Remittances 13:07 War as Market Catalyst 13:46 Paraguay Living and Culture 16:22 Paraguay Investing Basics 17:55 Dividend Stocks and Oil 18:26 Uruguay Plan B Logistics 20:45 Tungsten Fund Question 21:52 When to Sell Gold 23:00 Selling Shares After IPO 23:54 Iran Travel and Motives 24:12 Missed Iran Polo Trip 24:40 What the Iran War Is About 26:40 Buying a Farm in Argentina 29:01 Argentina Export Taxes Explained 29:45 Why Gold Stocks Fall Out of Favor 31:18 Is This the Last Gold Bull 33:28 Staying in the US Safely 35:27 Replacing Income After Selling 37:30 Next High Ground Novel Update 38:21 Getting Physical Gold in Uruguay 38:57 War Impact on Mining Stocks 40:41 Ethical Reasoning and Consequences 46:19 Politics Morality and Wrap Up

Find us at www.crisisinvesting.com Matt and Doug discuss the reported US invasion of Iran and warn it could escalate unpredictably and badly, potentially toward a wider regional conflict or even World War III. They argue information from the war zone is unreliable, but note Iran's missile/drone capabilities and the economic asymmetry of expensive US interceptors versus cheap attacks. They criticize launching strikes during negotiations, question US motives tied to Israel and long-standing regional history, and describe risks around the Strait of Hormuz for oil, gas, and fertilizer flows. They debate claims about attacks on Gulf targets, possible Israeli involvement, and confusion over downed aircraft, while highlighting how infrastructure like data centers and banking systems can become targets. The conversation shifts to markets (gold, oil, selected stocks), and broader "greater depression" themes about public crisis-blindness, government growth, inflation, and household financial stress. 00:00 War Breaks Out 01:33 Bases Everywhere 03:19 Fog of War 05:20 Costly Interceptors 05:59 Why Are We Involved 08:17 Israel and US Aid 11:29 Religious End Times 15:33 Iran Strikes Back 17:26 Negotiations Then Attack 24:09 Strait of Hormuz Risks 25:19 Escorts and Escalation 28:11 Cyber and Infrastructure 30:02 Who Hit the Refineries 30:38 False Flags and Mossad Claims 31:47 Fifteen Shootdown Mystery 33:48 Casualties and Interceptor Costs 35:07 Boots on Ground and Kurds 37:32 Markets Gold and Oil Plays 41:44 Why People Miss Crises 49:29 Greater Depression Timeline 50:13 How Iran War Ends 50:59 Assassinations and Nuclear Risk 54:12 Wrap Up and Audience Questions

Doug & Matt Q&A: Scam Warnings, Private Placements, Gold Outlook, Business Advice, and Living Abroad Doug and Matt warn subscribers about scammers impersonating them on Substack to pitch a mentorship program with urgent funding deadlines, stressing they will never solicit business opportunities and that their only related activity is sharing private placement ideas with VIP members. They discuss strong recent performance in small mining stocks, arguing the sector remains tiny, illiquid, and largely unowned by the public and fund managers, and explain why they favor private placements for discounts and warrants, citing a VIP deal in Midnight Sun copper explorer bought at $0.22 with a $0.30 warrant and later trading above $1.35. They answer questions on starting or buying businesses by focusing on solving niche problems and avoiding "influencer" strategies, remain bullish on gold and related stocks, discuss English-speaking relocation options and Chile's livability, share stories about reckless youthful speeding, touch on glyphosate concerns, and speculate about potential U.S. action against Iran. 00:00 Scam Alert Mentorship Messages 01:18 Mining Stocks Bull Market Thesis 03:16 Private Placements VIP Strategy 05:17 Starting Businesses Finding a Niche 07:11 Influencer Culture Reality Check 11:04 Reinvesting Profits Trend Following 11:51 Second Residency English Options 14:43 Corvette Chase Jail Story 17:27 Muscle Cars and Drag Racing 20:16 Gold Price Overextension Debate 23:21 Living in Chile Pros and Cons 26:12 Glyphosate and Organic Food 28:06 Holding Cash in Treasuries 28:44 Buying a Business Owner Financing 30:33 Iran War Talk and Wrap Up

Find us at www.crisisinvesting.com Doug and the host discuss escalating tensions with Iran and the risks of US military action, then pivot to media and politics including Washington Post subscriber losses/layoffs, Trump's cabinet optics, Pam Bondi's testimony, and expectations around the Epstein files. They answer subscriber questions on the DEAGEL report, the dollar and immigration, retiring in El Salvador vs. the Southern Cone, robot leasing and rapid advances in China, unrealized-gains taxation in the Netherlands, rare-earth supply constraints, lawfare experiences and AI-driven enforcement, Hong Kong property, and why they favor gold/silver and mining stocks over overpriced US equities. 00:00 Iran War Drumbeat: Carriers, Motives, and Blowback Risks 04:06 Nukes, News Fatigue, and Tuning Out the Doom Cycle 07:22 Washington Post Meltdown: Subscribers, Layoffs, and AI Newsrooms 10:53 Scouting America & Eagle Scout Perks (Plus a Fed Chair Joke) 15:48 Pam Bondi, Trump's Cabinet Optics, and the Epstein Files Fallout 20:47 Subscriber Q&A: The Deagel Report—Forecast or Psyop? 23:31 If the Dollar Loses Reserve Status: Immigration, Inflation, and Tariffs 26:46 Retiring to El Salvador vs. the Southern Cone (Argentina Rumors) 29:21 Free Speech vs. the State: When "Hate" Becomes a Censorship Pretext 29:50 Robot Ownership Goes Subscription: Leasing, Updates, and Remote Kill Switches 31:28 China's Humanoid Robot Boom: Dances, Kung Fu, and a Friendly Terminator Future 32:25 Netherlands' Unrealized Gains Tax Shock: Capital Flight, Passports, and US Spillover 35:10 Can the West Replace China's Rare Earth Processing? The Real Bottleneck 36:54 Lawfare in Practice: The Domain Name Lawsuit That Cost $35K 39:11 AI + the Legal System: $3,500/hr Lawyers and the Coming Explosion of Automated Enforcement 41:52 If Democrats Sweep Power: Portfolio Defense, Debt Reality, and Why Gold Stays 44:03 Seasteading & City-States: Why It's a Billionaire's Game (Minerva, Honduras, and Coast Guards) 47:45 Hong Kong Property Revisited: Common Law, Deflation, and a Legendary Real Estate Win 49:25 Should You Avoid US Stocks? Overvaluation, Currency Debasement, and the Mining Stocks Bet (Wrap-Up)

Crisis Investing Q&A: Gold Miners, US Politics, and Safe Investments with Doug Casey In this episode, Doug Casey addresses questions from Crisis Investing subscribers. Topics include the impact of gold prices on miners and explorers, the potential benefits of keeping a portion of your portfolio in cash, and the possible advantages of investing in Aris Mining's planned move to the NYSE. Doug also gives his take on meeting political figures, the risks of investing in private companies, and the merits of retiring in Panama. Additionally, Doug discusses the issues with security in Mexico, the implications of Uruguay's president visiting China, and the considerations for storing gold to avoid potential US government confiscation. 00:00 Introduction and Overview 00:11 Gold Miners and Stock Appreciation 01:50 Meeting Political Figures 06:15 Private Company Investments 08:05 Cash Management Strategies 09:36 Aris Mining and NYSE Listing 10:50 The Great Taking and Economic Concerns 12:41 Retirement in Panama and Other Locations 14:53 Silver Investment Risks in Mexico 16:49 US-China Relations and Uruguay's Strategy 17:58 Gold Confiscation and Offshore Storage 19:14 Conclusion and Wrap-Up

Get an education on mining stocks: https://expertsroundtable.substack.com/p/rua-gold-corp-doug-caseys-experts Free newsletter on critical minerals: https://statespeculator.substack.com/ Subscribe to CrisisInvesting.com In this episode, Doug discusses a range of topics from Bitcoin's long-term viability and real estate opportunities in Argentina, to strategic investments in gold and specific mining stocks. He also addresses listener questions on fractional reserve banking, the state of the Japanese stock market, and the impact of financialization on various assets. Additionally, Doug gives his insights on a new Hollywood movie, the difference between commodity prices in the East and West, and strategies for investing in small and medium enterprises. 00:00 Introduction and Subscriber Questions 00:21 Bitcoin's Viability as a Currency 05:18 Bitcoin's Financialization and Market Dynamics 12:44 Real Estate Opportunities in Argentina 19:01 Investing in Small and Medium Enterprises 21:18 Gold Mining Stocks and Market Analysis 28:18 Christianity's Influence on Western Civilization 40:29 Doug's Take on Ari's Strategic Mining 43:40 Review of DiCaprio's New Film 47:34 Gold as a Tier One Asset and Tax Implications 49:51 Investing in the Japanese Stock Market 54:36 Silver Market Dynamics and Arbitrage 59:12 Fractional Reserve Banking and Usury 01:04:53 Stock Market Crash and Precious Metals 01:11:42 Stop-Loss Strategies in Mining Stocks

Find us at www.crisisinvesting.com In this episode, Doug and Matt discuss the recent activity in metals and mining markets, including the U.S. government's strategic initiatives to stockpile critical minerals. They scrutinize Trump's $12 billion Project Vault and proposals to expand the export-import bank's budget, exploring how these moves could affect the mining industry. The conversation then shifts to the burgeoning AI landscape, noting developments in AI that enable bots to interact, remember, and even form communities autonomously. Doug and Matt also delve into the criticism of governmental interference and potential impacts on investors, touching on the broader implications of AI on the job market and future technological advancements. The episode wraps up with investment advice and Doug's thoughts on regulatory changes. 00:00 Introduction and Market Overview 00:16 Government Interventions in Mining 01:06 Economic Implications of Government Actions 03:23 Historical Context and Strategic Metals 11:05 AI Developments and Ethical Considerations 18:35 Impact of AI on Jobs and Industries 23:09 Gold and Silver Market Dynamics 30:13 Conclusion and Investment Advice

Find us at www.crisisinvesting.com Doug and Matt Discuss Iran Tensions, Precious Metals Market, and Investment Strategies In this episode, Doug and Matt tackle timely questions from their subscribers, focusing on the escalating tensions with Iran and potential U.S. actions under President Trump. They explore the potential impacts on regional stability and the global economic landscape, including how it might affect oil prices and military strategies. The conversation shifts to the precious metals market, with an emphasis on silver and gold's recent bullish run, investment strategies, and the arbitrage between different markets. Doug and Matt also advice on when to sell and swap precious metals, discuss the impact of industrial demand on prices, and address the importance of a global perspective on investments. 00:00 Introduction and Subscriber Questions 00:14 Potential Conflict with Iran 06:16 Market Reactions and Precious Metals 07:17 Silver Market Dynamics 10:53 Investment Strategies and Market Chaos 20:49 Portfolio Management and Broker Recommendations 25:18 Big Producer and Royalty Names 28:08 Physical Precious Metal Storage 31:24 Financial Newsletters for Investments 35:49 Gold and Silver Market Trends 38:52 Antiquated Metals Pricing in Mining Reports 42:30 Final Thoughts and Future Outlook

→ 20% off link: https://www.crisisinvesting.com/2026 In today's episode, Doug goes further than most people are willing to go in public: he argues Trump can be charming and effective and still be dangerous—because he doesn't operate from a moral or philosophical center. We dig into the weird split-screen reality where Trump will savage someone in public, then play nice in private… and what that says about the incentives driving this whole moment. If you've been cheering deportations but haven't thought through what a "bag-and-grab" culture becomes when the political winds shift, this conversation is for you. And then we pivot from street-level power to monetary reality—because while the media fixates on the daily outrage cycle, the dollar is quietly bleeding out and metals are screaming something big. Gold is at fresh all-time highs (we talk about $5,280), silver is over $100 (we cite $113), and the public still isn't participating the way a true mania would look. Doug's take: this isn't a "bubble"—it's a new equilibrium forming as central banks dump dollars and reach for the only reserve asset that isn't someone else's liability. The actionable part: we explain why the real asymmetry isn't in the metal—it's in the miners. Our Crisis Investing portfolio is up about 20% in the last month, with individual names up as much as ~65%, and Doug's argument is that the move still hasn't matched what higher metal prices will do to earnings, buybacks, dividends, and ultimately institutional attention. (He repeats the old rule that matters: be right, sit tight.) If you want the exact portfolio, the back issues, and the monthly issues as they drop, this is where you upgrade to a paid subscription to Crisis Investing. I'm including a link that gives you 20% off an annual subscription, and it's only open for about 36 hours: → 20% off link: https://www.crisisinvesting.com/2026 If this episode hits a nerve - especially the Minneapolis/ICE segment—come back for the Friday Q&A. Doug expects pushback, and honestly, it'll be a good test of whether people can argue the facts without losing their cool or surrendering their principles.