Jim Grant: ‘We Are in a PhD Standard’

October 3, 2012 By 2 Comments

Forget the gold standard, Jim Grant told CNBC this morning that we are off the common-sense-mandate and in a PhD-Standard.

Grant informs the CNBC MOPEers that what we need is not more worthless acronym programs from the PhD’s at the Fed, but rather a return to free market capitalism where markets are allowed to clear. 

Obviously allowing the markets to clear would mean housing and TBTF banks along with their worthless derivative mountains price to reality rather than to BS model, something the Fed is attempting to avoid like the plague.

Full MUST WATCH interview below:


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Comments

  1. Avatar of Plebian Plebian says:
    October 3, 2012 at 2:34 PM

    If only Jim Grant would talk of the Fed in the same vein as G. Edward Griffin…  Would probably be banned from CNBC and other mainstream media outlets.
     
    Also, think about why the US decided to go from a silver/gold standard to a gold-only standard…

  2. Avatar of Sumkid Sumkid says:
    October 4, 2012 at 9:57 PM

    We sure do need a free market capitalism but the government doesn’t want that because he will lose his revenues from its citizens’ taxes. We should also legalize other currencies such as gold and silver so that this way, any local grocery stores will take it as payment. The weird part is that in the USA, there is already a law that makes gold and silver legal tenders thanks to the Constitution but the sheeple don’t accept it because of their ignorance.

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