Doug Casey’s 2021 Predictions for Bitcoin, Gold, US Politics, and More…
Doug Casey’s 2021 Predictions for Bitcoin, Gold, US Politics, and More… by Doug Casey for International Man
Editor’s Note: 2020 was an unprecedented year. A global pandemic and the subsequent hysteria unleashed a tidal wave of government restrictions, limits on individual freedoms, and economic destruction.
In 2021, the US will have a new president, the impacts of government response to COVID will become apparent, and the money printing will accelerate. Below, International Man founder Doug Casey shares his predictions for the year ahead, including where bitcoin and gold are headed, the government’s plan for a digital dollar (FedCoin), potential geopolitical risks, and more.
The Political Situation and a Biden Presidency
I’m going to keep this article short, just hitting a few of the high points—or low points—of the coming year. Which will, I’m afraid, set the tone for the whole decade.
As Yogi Berra said, “It ain’t over ’til it’s over.” But it looks as if a Biden/Harris regime will replace the Trump regime.
I’ve explained my very mixed feelings about Trump many times before. Whatever his faults, the people in control of the Democrat party are much more dangerous. To start with, they egregiously stole the US election.
The political situation guarantees chaos because the red people and the blue people actually hate each other, which is why I’ve talked about the possibility of a civil war over the last couple of years. It’s either that or a breakup of the US. Or a police state to keep a lid on the political pressure cooker.
As far as the economy is concerned, at this point, it hardly matters who assumes the presidency; the Greater Depression is absolutely baked in the cake. The creation of trillions of new currency units will only make it worse. Except possibly for the stock market over the short run, as people look for someplace to offload their dollars. You can expect violence. Germany in the ’20s, or Latin America cyclically, would seem to be good models.
The incoming Democrats will create a vast array of new programs and departments. The changes will be much more radical than either Roosevelt’s New Deal or Johnson’s Great Society. They’ll finance it with unlimited money in a world of Modern Monetary Theory (MMT). They’ll cement themselves in power. The US will get a makeover, and America will cease to exist.
It’s really serious. The consequences of the Greater Depression will go far beyond a simple decline in the general standard of living.
The Effects of COVID
The virus itself is what we can call a first-order effect. I don’t want to spend much time talking about the flu itself because the information has been highly politicized and unreliable in many ways. It’s enough to note that even the worst-case numbers aren’t remotely comparable to those of the Spanish Flu of 1918-19—which was trivial from political, economic, social, or cultural viewpoints.