James Grant On Money, Central Banking, Gold, Bernanke & The Federal Reserve

This is a great clip - A new compilation of Jim Grant's best moments.  Ron Paul recently said that he would choose Grant as Fed Chairman - This short video explains why.

Comments

[J. Anderson]

I'd like to see proponents of ending central banking make this point more:
The creation of the Internet has made price discovery almost perfect. Many arguments for the creation of a central bank hinged on the fact that it could be an centralized information clearinghouse. This is no longer needed.

[DailyBail]

Good point. And the internet has also made gathering data on inflation quite a bit better. The Billion Prices Project at MIT comes to mind.

[Den]

I like this guy!

[davidgmills]

Still part of the groupthink though. Never does he mention a sovereign currency.

[jon]

I though Ron Paul is going to end the FED! Why would he need a chairman.

[Cheyenne]

Too bad he's asked about Jamie Dimon but doesn't raise the issue of silver.

It's really super-duper odd that $659 million in MF Global's customer segregated accounts were actually in an account at JP Morgan. Not only is JP Morgan short to the teeth in silver (via BSC), and not only did JP Morgan win COMEX approved warehouse status in record time just 6 months ago, now it turns out that JP is on MF Global's creditor committee.

http://www.businessweek.com/news/2011-11-08/mf-global-creditor-panel-includes-jpmorgan-wilmington-trust.html

You really have to ask: how much silver (or "equivalents") did MF Global clients hold with the firm at the time of its bankruptcy?

The bankruptcy examiner's report should be a spellbinder.