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Anarchast Ep. 52 with James Turk

This is an episode of Anarchast from before Patrick, Kason, and Disenthrall took ownership of the show. The views, opinions, and facts expressed in this episode have not been reviewed and are not endorsed by us. Always think rationally and for yourself.

In this edition of Anarchast Jeff Berwick, in Acapulco, Mexico, talks with James Turk, the CEO of Goldmoney.com in London.     Topics include:    

  • How James became an Anarchist
  • Atlas Shrugged was instrumental in shaping his views
  • Jeff mentions the inspiration for his project in Chile, “Galt’s Gulch“, is from Atlas Shrugged
  • James spends most of his time in the UK because they have an attractive immigration policy of “non-domiciliation”
  • Jeff mentions that he to avoids becoming a resident of any place that he is living
  • James talks about his experience starting Goldmoney.com and his parents warning him not to quit his “secure”job with Chase Manhattan Bank
  • He says you are not secure working for a big institution but rather working for yourself
  • Jeff says that he had a similar experience working at a bank and starting stockhouse.com
  • They talk about the major corporations taking over the economy of the US
  • James talks about his book “The Collapse of the Dollar”
  • We are living through a “currency bubble” where people are acting irrationally and James sees it popping in the next five years
  • Politicians only have two options, to stop paying out entitlements or to hyper-inflate the currency
  • The best outcome would be for us to return to real money backed by gold and/or silver
  • It is also important to have private property respected in order for the free market to work correctly
  • It is important to keep yourself internationally diversify yourself much like was mentioned by Harry Shultz in the book “PT”
  • A good way to diversify yourself is by getting a second passport through http://tdvpassports.com/
  • James thinks that Bitcoin is an interesting option but does not see it as a tangible asset
  • Goldmoney now has the ability to hold physical metal in five different countries
  • James sees Gold as being very undervalued and that the fair market price should be around $11,000
  • He recommends a dollar cost averaging strategy of buying small amounts of metal on a regular basis
  • Gold is money but should not be looked at as a wealth creating or cash-flowing asset
  • James thinks that governments may try gold confiscation in the future
  • He is skeptical that governments have all the gold that they claim to have

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