Jump to content

Jim Grant on "faith-based currencies"


Recommended Posts

?The dollar is an even greater achievement [than Sterling]. Whereas Sterling was convertible or exchangeable [into gold], the dollar is purely faith-based. . . Currencies are IOU nothings.?


Grant says the singular problem facing the world is the overextension of American finances. ?If Britain was the world?s workshop, the US is the world?s mouth,? he quipped. ?We consume more than we produce and the money winds up in the vaults of countries that consume less than they produce.?

Short the Fed's arrogance


If the dollar is a "faith-based currency," then you have blasphemed, Mr. Grant.

Link to comment
Share on other sites

  • Replies 0
  • Created
  • Last Reply


This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...