Jim Grant: Fed Action Will Prompt Return to Gold Standard!
The Interest Rate Observer’s Jim Grant was on Bloomberg yesterday discussing the recent Fed minutes. When asked by Bloomberg what will be the end result of this Fed’s responsibilities, Grant responded: A gold standard.
When asked when he envisions a gold standard occurring, Grant responded: 2 years ago. It’s important to see our monetary affairs over the sweep of time. The Fed was founded 100 years ago this year. There have been many monetary moments since then. 1944 comes Bretton Woods, but we will have they said a dollar that is backed by gold.
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