Sunday, February 20, 2011 – by Anthony WileThe Daily Bell is pleased to present an exclusive interview with Jay Taylor (left).
Introduction: Jay Taylor is the editor of J Taylor's Gold, Energy & Technology Stocks newsletter. Throughout his career Mr. Taylor worked as first a commercial and then as an investment banker. Most recently, he worked in the mining and metals group of ING Barings in New York. Prior to that he was involved in the first gold loan made in modern times in the U.S. to Amax Minerals, a 250,000 oz. loan facility led by Citicorp. In 1997 he resigned from ING Barings to devote himself full time to researching mining and technology stocks, writing about them in his newsletter, and assisting companies in raising venture capital.
A brief synopsis:
Daily Bell: Is democracy discredited? Are we headed toward something else?
Jay Taylor: In my mind, democracy has always been discredited. The Constitution never allowed for democracy; we are supposed to be a republic. As Ed Griffin says, we are headed toward statist, totalitarian systems, and people don't even realize it. Step by step, slowly but surely. I think democracy ultimately paves the way to tyranny.
Daily Bell: Let's press a little on the war issue. Is there going to be a world war of some sort to take people's minds off the terrible state of the world's economy?
Jay Taylor: There are obviously wars, but world war, let's hope not. I think it's part of the game in the United States. We can employ more people, who are not employable elsewhere with this wretched economy. My question is, "With whom would we have a world war?" There's only one country out there waging war and that's the United States. How do you have a war without a country that would stand up to the U.S.?
Daily Bell: How does the power elite recover from all this, or does it take a step back, as it had to after the advent of the Gutenberg press?