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:
- 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.
Recommended: Charting the Federal Reserve's Assets - 1915 to 2012