US

Jim Grant: We're Still Going To Be Stuck With The Same Faith Based Currency

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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