Sunday, August 04, 2013

James Grant on The Fed, Farm Land and Gold

Grant JamesThis 2010 presentation by James Grant, founder of Grant's Interest Rate Observer, is just as timely today as it was then and thus is worthy of our time. 

Grant looks at the money printing by the U.S. Federal Reserve and describes it in terms that hammer home the notion of how absurd it is that monetary high priests actually believe they can control something as powerful and ultimately unpredictable as a global economy.

Much more to the point,  Grant hones in on the paradox that caused the caual observer to regard U.S. bonds paying near 15% in the 1980s as "risky" versus bonds today paying a pittance as being "super safe."

Grant likens the Fed "which is in the business of debasing the currency," to a barkeep "watering down the whiskey."  He makes it sound both funny and lamentable.   

For those with an hour to spend with a deep thinking and very knowledgeable gentleman.  


Source:  DardenMBA via YouTube



The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

Brien Lundin, CEO, Jefferson Financial, Host of the annual New Orleans Investment Conference and Publisher of Gold Newsletter

Contact Us