Jim Grant: Gold Is a Bet against Fiat Money (Video)

Enjoy this interesting CNBC interview with Jim Grant in which he analyzes the ambiguous statements coming out of the Fed this week. He doesn’t think the Fed is likely to unwind QE anytime soon, and that this experiment in unprecedented money printing will likely end in disaster. However, Grant does point out that gold is the perfect hedge against a collapsing currency.

“[Gold is] money. It certainly is a hedge against unscripted outcomes of monetary affairs. It is an investment in the tendency of government issued paper money to depreciate in value. It’s an investment in that…”

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One Response to Jim Grant: Gold Is a Bet against Fiat Money (Video)

  1. Smack MacDougal says:

    Maria says “…economy needs stimulus.” The economy is abstraction.

    Only humans can get stimulus.

    Buying government bonds to put credit into circulation stimulates humans and not “the economy.”

    The goal is to convert those checking account credits into cash and those cash into bank deposits and those bank deposits into bank loans.

    As to Jim Grant, yes, we can measure inflation. Inflation is the change in the ratio of bank credit to deposits.

    As to claim gold is money, well right now, it isn’t. Money is that which has bearer negotiability and which extinguishes credit.

    Fed Res bankers work for major commercial bankers and not the other way around as supposed by almost all.

    The purpose of central banking is to help commercial bankers sell their products — bank credit.