Tuesday, 30 September 2014

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Jim Grant: “The Federal Reserve Is The Vampire Squid Of Vampire Squids”

Posted by Gonzalo Schwarz
May 7, 2012

Munch’s “The Scream” may be all the rage today, but to Jim Grant, in his latest interview on Bloomberg TV, the record price paid for the painting is not so much a manifestation of modern art as one of modern currency: “This is the flight into things from paper” . Thus begins the latest polemic by the Grant’s Interest Rate Observer author whose topic is as so often happens, the Federal Reserve (for his latest definitive expostulation on why the Fed should be disbanded and why a gold standard should return, delivered from the heart of Liberty 33 itself, read here). The world in which we invest is a world of immense wall to wall manipulations by our friends in Washington. And people get off on Goldman Sachs because it has done this and this, it is pulling wires… The Federal Reserve is the giant squid of squids, it is the vampire squid of vampire squids.”

 

 

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