Wednesday, August 26, 2015
Jim Grant: The Fed Turned the Stock Market Into a 'Hall of Mirrors'
“Confoundingly to me, people have come to be quite accepting of the value attached by fiat to these pieces of paper we call currency,” says Jim Grant, who’s the editor of Grant’s Interest Rate Observer and the author of The Forgotten Depression: The Crash That Cured Itself.
“Are prices meant to be imposed from on high, or discovered by individuals acting spontaneously in markets? The readers and viewers of Reason known the answer to that but they’re regrettably in the minority."
Grant sat down with Reason magazine editor-in-chief Matt Welch on Tuesday to discuss the underlying causes of the recent market turbulence, why we don’t really “have interest rates anymore,” and how the classic jazz song “It’s Only a Paper Moon” provides a fitting metaphor for the equities market.
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WHY ANY ECONOMIST OR INTELLECTUAL WOULD CLAIM THAT WE NEED INTERESTS RATES IS BAFFELING TO ME. ISLAM AND CHRISTIANITY BANNED USUARY FOR CENTURIES. JEWS ALWAYS WERE USUROUS. WHY EVER DO THEY THINK THAT CONSTANT GROWTH IS POSSIBLE EXCEPT FOR A CANCER. INTEREST IS SKIMMING OFF MONEY FOR DOING NOT A DAMN THING.. IT CREATES OR PRODUCES NOTHING BUT JUST IS A PARASITIC ELEMENT ON MONEY. WE NEED A NEW MENTALITY AWAY FROM THE KHAZARIAN JEWISH CONCEPT OF SELLING MONEY.. MONEY CHANGING. IS MONEY CHARGING, AND IT ISN´T WORKING. EVENTUALLY THE BANK OWNS ALL OF THE MONEY.. OR THE JEWS OWN ALL OF THE MONEY IF THEY ARE THE ISSUIES OF THE MONEY.. START THINKING OUTSDIE THE BOX.
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