from Casey Research
(Interviewed by Louis James, Editor, International Speculator)
This interview was first published on September 30, 2009.
Editor’s Note: In yesterday’s Weekend Edition, Casey Research founder Doug Casey explained why gold stocks can offer 10 times or even 100 times return on your money. Today, Doug explains how to stack the odds in your favor when buying gold stocks…
Doug: You know, I first started looking at gold stocks back in the early 1970s. In those days, South African stocks were the “blue chips” of the mining industry. As a country, South Africa mined about 60% of all the gold mined in the world, and costs were very low. Gold was controlled at $35 per ounce until Nixon closed the gold window in 1971, but some South Africans were able to mine it for $20 an ounce or less. They were paying huge dividends.