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Wednesday, July 20, 2011 2:10 PM


Jim Grant on going forward with a gold standard, "This is not a threat, this is not a promise, it's going to happen"


Jim Grant speaks about going forward with gold standard, and away from a "PhD Standard" ruled by academics like Fed chairman Ben Bernanke.


Link if above video does not play: U.S. Debt Crisis Is Contrived, James Grant Says

Select Quotes

  • Debt crisis is contrived
  • Treasury market operating on muscle memory, up in price down in yield for 30 years.
  • People have come to view treasuries are intrinsically safe when in fact pieces of paper emitted by a government that is cash-flow negative and the printer of the world's reserve currency.
  • On going forward with a gold standard, "This is not a threat, this is not a promise, it's going to happen"
  • The gold standard is a better alternative for money management. The historical evidence is incontrovertible.


Jim Grant essentially describes the problems and solutions presented in Hugo Salinas Price and Michael Pettis on the Trade Imbalance Dilemma; Gold's Honest Discipline Revisited. Please give that a read if you have not yet done so.


Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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