Why the U.S. Is the Next Greece: Doug Casey on America's Economic Problems

"With these stupid governments printing trillions and trillions of new currency units," says investor Doug Casey, "it's building up to a catastrophe of historic proportions."

Doug Casey, a wildly successful investor who's the head of the outfit Casey Research, is predicting doom and gloom for the global economy.

"I wouldn't keep significant capital in banks," he told Reason magazine Editor-in-Chief Matt Welch. "Most of the banks in the world are bankrupt."

Casey sat down for an interview with Welch at Freedom Fest 2015, where the two discussed his bearish assertions, whether gold is a good investment in 2015, and why the average person is so "brain dead" when it comes to diversification.

And yet, says Casey, there is a bright side: Catastrophes create many opportunities to earn a profit.

Five minutes and 58 seconds.

Music by Audionautix.

Produced by Paul Detrick. Shot by Detrick and Meredith Bragg.

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