Jim Grant spoke with Bloomberg Television about the new Federal Reserve Board of Governors nominees and the future decisions of the Fed.
- 0:30 The first order of business will likely be to print enough dollars to make something happen in the U.S. economy.
- 1:30 Janet Yellen is likely to be a consensus member, and vote with the Fed on every decision.
- 2:00 Peter Diamond and Sarah Bloom Raskin are not formidable thinkers about the nature of money, and are unlikely to propose solutions to the fact that the U.S. dollar is a faith based currency that is of no intrinsic value that is manipulated by the Fed.
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