Jim Grant Calls for Return to a 'True Gold Standard'
CFA Institute submits:
By Charlie Henneman
In a witty session today entitled “Bonfire of the Currencies” at the 64th CFA Institute Annual Conference in Edinburgh, James Grant, founder and editor of Grant’s Interest Rate Observer, called for the return to a “true gold standard (that) favors no one nation, but synchronizes the balance of payments between all.”Grant says that central bank policies such as the Fed’s quantitative easing are deliberately thwarting supply and demand. “Central bankers prefer the brute methods of command and control to the delicate simplicity of the price mechanism,” he saidComplete Story »