Jim Grant on Bloomberg – Investors have been wearing ‘Interest-Rate Goggles’

Jim Grant was interviewed on Bloomberg TV on 30/6/11. He had some interesting thoughts on gold, money, MMMFs, interest rates and investments. See below for the video & summary:

 

 

Summary:

 

  • Gold is the mirror image of the World’s faith in the likes of Ben Bernanke.
  • We need a form of money that cannot be materialized on a computer screen at the whims of a committee of public servants.
  • QE2 did not deliver what it promised to deliver.
  • The state of the MMMF market demonstrates that meddling with money has unintended consequences. MMMFs take some risk in Europe for 0 return.
  • Investors have been wearing ‘interest-rate goggles’ for years.
  • The dollar might be supplanted as the one and only thing that matters in monetary affairs.
  • Blue chips that have been going sideways for a decade may be a good buy.

See here for our collection of rare historical economic data.

Posted Jul 1, 2011
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