When asked by Bloomberg why he buys gold, Jim Grant explained that he is investing in monetary disorder. This disorder is already in motion, caused by central bankers who don’t understand that interest rates are actually a price. Manipulating interest rates is a type of artificial price control, which Grant warns always ends in disaster.
Gold is something to hold as an investment in the disorder of money as manipulated and managed by central bankers… One can observe that nominal interest rates without adjusting for anything were far higher during the Depression than they are now. These are the lowest nominal interest rates… in the history of the world. “ Read more
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