from Kerry Lutz's Financial Survival Network
Kerry and Doug Casey discussed a range of topics, including the revolution in Argentina, the real estate market in Argentina and Uruguay, the US political environment, the surging prices of gold and silver, and investment opportunities. They explored the election of an anarcho-capitalist president in Argentina and the country’s global significance, as well as the potential impact of a ruling cabal. Doug Casey shared his personal experience of purchasing a large penthouse in Buenos Aires at a fraction of the cost compared to a similar property in New York, and suggested Uruguay as an attractive option for individuals seeking waterfront properties at a more affordable price compared to the US market. The discussion also delved into the US political environment, with Kerry and Doug exploring Trump’s potential approach to the presidency, the deep divide between Republicans and Democrats, and the potential for election manipulation. They expressed concerns about the impact of this polarization and predicted the Democrats’ victory in the upcoming election. Additionally, they discussed the surging prices of gold and silver, with Doug expressing his strong belief in the continued upward trajectory of gold prices, citing the current global economic situation and substantial money creation as key factors. Finally, they highlighted the potential for growth in energy and mining stocks, particularly given their small market caps and historical underrepresentation in the market.
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Casey is a perennial promoter of Argentina because he sells real estate there. His glowing opinions of Argentina are totally unjustified. Having spent months in Buenos Aires and Bariloche to evaluate those places, I determined that Argentina is a totally botched up country where almost nothing works. Clothing is garbage and ridiculously overpriced as are cars and appliances. Argentine food in general is bland and buying spices is nearly impossible. Fresh vegetables are very hard to find and you can forget about fresh fish. The legendary Argentina grass fed beef has been replaced by typical feedlot meat. I can buy Argentine Malbec wine for almost 50% less in an American discount store than I could buy the same wine in Argentina. An imported cigar that costs $10 in America costs almost $20 in Buenos Aires. Buenos Aires is generally a filthy dangerous dump. Inflation has wrecked what little was left of Argentina, so everybody who can leave has left. Eight years ago when I was there the exchange rate was 14 pesos to the dollar. Now it is about 900 to the dollar. The only thing left in Argentina in abundant supply is despair. The highly touted vacation town Bariloche is a collection of hideous concrete box apartment buildings and they pump raw sewage into the adjacent lake Nahuel Huape. As for Casey’s opinion of Uruguay — also inaccurate. Montevideo where half the population lives is out of fresh water and they actually have the people drinking diluted salt water. Most all the beachfront property between Montevideo and Punta del Este is cluttered by ugly concrete box apartments. And the food in Uruguay is widely regarded as crap by tourists who wasted their time there. The Rio de la Plata is a brown polluted cesspool. You can live a whole lot better and cleaner in Florida. Argentina and Uruguay are second world dumps. In Uruguay, if you are lucky enough to find a home with heat, the electric bills in the damp cold winters will rupture you financially. In short, you have to be a masochist to spend your time in either country. As for Javier Milei, he is a bit of a whack job, and will not likely last much longer.
100 years ago Argentina was about the richest country in the world. Thanks to constant money-printing and irresponsible govts it has descended into 3rd world misery as you describe. Each new president promises a strong currency but that lasts about 5 minutes – any moment now the current one will loosen his gold-fixed peso. As for Doug Casey, he’s supposed to be a hard-money advocate, can’t imagine what he finds attractive about Argentina.
I do like listening to Doug but I also am skeptical about Millei. When elected, he waived the Israel flag showing he will serve the Zionists (like Zelensky), converting to Judaism and most importantly, switched his position on Climate change, which is synonymous with depopulation. Every major city in Argentina is a designated smart city so they got their boy in to do the dirty work. Why did Millei go to America and kiss Bulk Clinton’s ass? Millei is deregulating industries but only foreign investors will benefit and the people will become poorer. I’m not moving there. Don’t forget about the crime. “El Loco” won’t be killed because he serves the globalists. Oh, let not forget he admires Donald Trump, the mass murderer who did not covid operation and pushed the jab, trampled on our rights and destroyed the middle class.