Part 1: Jim Grant on CNBC: Bring on Ron Paul's Audit of the Fed! 6/10/09

[Balizabet]

Did he just say Zombobway? U h oh.

[KenMacMillan]

Most money is created by debt.

[deathguitrst]

Ron Paul 2012! jim grant chairman of the fed? maybe

[KenMacMillan]

Grant's the only one there who knows what he's talking about.

[doughtymqan]

@KenMacMillan He's not alone. For more great economic minds go to mises.org. Help save the USA & maybe the world from idiots in power.

[KenMacMillan]

@doughtymqan I meant on the show. Most of Austrian economics is not accurate.

[ghostKurt]

Ron Paul for Pres, Jesse Ventura for Vice, and Grant for Fed Chairman.

[moctezuma112]

@ghostKurt

Mine is quite similar: Ron Paul for President, Dennis Kucinich Vice President, Gary Johnson Secretary of state, Peter Schiff Secretary of Treasury, Jesse Ventura for Dept of Defense, Jim Grant Fed Reserve,

oh and Donald Trump for white house gardener =P

ps: i'm bet you didn't even know about Jim Grant until Ron Paul mention him LOL

[mikizzle1]

@moctezuma112 You forgot Michael Scheuer i rather have him in department of defense or even Jeremy Scahill

[moctezuma112]

@mikizzle1 oh crap i forgot about Mike. yeah then they'll throw Jesse back in the Jungle with his Mini-gun have him take out area 51 =P

[tanksbb]

Jim Grant for Fed Chairman!

[chess747]

why do all these gay fucks wear a bow tie you look like a fucking idiot how the fuck can anyone take you serious on money just watching wall street greedy fucks wear a bow tie it make you look so fucking lame.

[jgrif08]

@chess747 - You clearly have no idea what Jim Grant is actually talking about.

[copernicus633]

@chess747 You attack the appearance of the person, but offer no intelligent comment of your own. You throw in a few 4 letter words for good measure. You totally discredit yourself.

[chess747]

@copernicus633 crap an IQ is made up its no different to a plumber who cant read but is brillant with his hand and yes I don't have the best grammar or spelling but I do have an open mind and wide experience a hunger for knowledge but what you don't understand is these people are schooled one way or so..so they are conditioned to view the same out comes any person with common sense IE: I dont need to bluff people with big words and bullshit to see something is wrong as this guy does clearly.

[copernicus633]

@chess747 I am glad you do have a hunger for knowledge-I mean that sincerely. Some things are complex and require intense study. They don't necessarily yield to simple appearances. Grant's view is defensible, but there other views that are defensible. As to Grant's bow tie and glasses, that is part of his personal "costume", you might say. But then, don't we all have one, some way or other? Don't you also have your own personal theatrics ? Can't you be generous and allow his ?

[pirucreek]

@chess747 I agree

[Ibringthetruth1]

This guy should run for president.

[kardentyrell]

@Ibringthetruth1 Ron Paul's running for president, He wants to appoint Jim Grant chairman of the federal reserve =}

[dwangelo]

It is HILARIOUS that Arianna loves Jim Grant. She has no idea that he (rightly) believes the exact opposite her BS website promotes.

[TheCasanovvaa]

@dwangelo Arianna Huffington is an opportunist. Her website is just her pandering to a specific audience to get rich. She was a republican until she realized she could make money by taking an extremem side. Much like Rupert Murdoch did with fox by siding with the right she did the same, by providing a media outlet to the liberal population.

[pewtoobe]

Areola is sure the Chatty Cathy when she wants to be in the spotlight. having her on a show talking about business is like having a ball player on a racing show talking about mechanical engineering. Like Dr S has long said, she (married Mike H.) and got her name (no one can pronounce "Stassinopoulos"), now she's queen bee, or thinks she is.

This guy (Grant) is smarter than the lot of them. He's preaching to the kindergarten.

[beniceokay]

6:05 He says excess money can chase skirts. This is known to be true.

[Ibringthetruth1]

@beniceokay

you caught that too. haha

[pretorious700]

Are these CNBC dolts supposed to know something? If so, somebody screwed up.

[Questfortruth86]

Jim Grant teaches CNBC idiots about inflation.

[pretorious700]

I want to have Becky's baby

[Ibringthetruth1]

@pretorious700

who?

[stealthpakfa]

that fat latin guy is as racist scum as they come. the cunt should be shot.

[Omnl420]

Techinally the income tax is unconstitutional but almost no judge will honor it. I think only 8 people have beat em.

[GMCsarge]

Every year you pay income tax, you are paying the owners of the Federal Reserve, tax free, pure profit on the loans they make to the government that they are supposed to be a part of. NONE of your income taxes pay for ANY part of ANY program the fed gov offers citizens. It's banker pay!

[stealthswimmer]

@GMCsarge

And if the money went to the government, then what? They'd squander it in some other way. That's why the solution is a free market in money - a central bank or government handling money issue is both wrong because both are simply imposed monopolies. Not to mention that governments, not just central banks, have horrible track records when it comes to managing the money supply.

[GMCsarge]

Sebo2001, study some American history, and even history of civilizations based on Central banks. Central banks have been abolished before, and what did they do then ? Just because you don't have the answer doesn't mean there isn't one out there. Maybe your ignorance should be your focus? Obviously, you don't understand the main problem with the central bank is that it is privately owned, and therefore primarily concerned with its own agenda, which is making profit, not serving "we the people".

[sebo2001]

Yes they were abolished and guess what; they were always re-created under different form. I think you dont understand main problem and agenda how Americans got where they are now; it was possible only through Central banks, they do share the wealth with even poorest Americans, if you dont see it watch: Factory City EUPA maybe it will open your whining eyes. Yes we get hit because we cant afford another TV or computer, come on! every 6th is hungry in the world.

[starvingspider]

I support HR 1207, cuz I want to where my money goes.

[Sleeeeve24]

I enjoy this highly intelligent man's input. Like a breath of fresh air! It takes 4 hosts to begin to try and hold a conversation with him!

[GoLuckyOops]

Please support HR 1207, The Federal Transparency Act! Our congressmen have the right and responsibility to Audit the federal reserve, like anyone else! It is our USA dollar, our representatives have the right to know! Please contact your local legislator about HR 1207!!!!! Congress rigorously debates millions of dollars in the senate, yet Bernake an unelected official puts billions of US dollars at risk, and our own CONGRESSMEN can't even know how the money is spent! We need TRANSPARENCY!!!!!!!!

[sebo2001]

People just bash and criticize ok you abolish the Feds and what is next? Who will take their place? Government? No, because government has no clue about finance, so who???? Ay takers? People start thinking; there is nobody at this point that could take their place. It would have to be few big countries that will create some new currency, but then people will start to scream NWO.

[delatroy]

The point is that no one is supposed to take their place. Gold is introduced and the free market is uninterrupted. This worked for hundreds of years in the states and the dollar and inflation flat.

[Hawk999]

Why these stupid, annoying sounds in the background? Stop it already! Nobody is waiting for that!

[libertyplayground]

bowtie = free market economist

[bazookafluke]

Why would a grown man ever choose to wear a bowtie?

[RenneDanjoule]

He must idolize Jim Rogers. And there's nothing wrong with that, the bowtie that is. and maybe even idolizing that man.

[MarcusCMarcellus]

The bow tie is just an old WASP convention; very common in places like Boston and LI, places where Grant's family has been hanging for the past 200 years.

[vinny1010]

This guy is way to fucking "soft"!! Not aggressive nor confident either.

[libertyeconomics]

Dude, I didn't notice a lack of confidence just because his delivery is calm. That is just Jim's style. He is VERY INTELLIGENT and VERY ARTICULATE.

[vinny1010]

Hrrrm...maybe that's just how he is. He just seemed to soft like he was intimidated by them if he told them the truth - but that;s mainstream media for you

[libertyeconomics]

I disagree that he was soft. Don't confuse the style with the substance. When you understand economics (not what the government teaches in its colleges), you can recognize that what Jim Grant says is substantively different than prevailing orthodoxy and thus bold. Jim Grant is objectively saying that there is NOTHING GOOD ABOUT MONEY PRINTING, that DEFLATION IS THE CURE. That is RADICALLY DIFFERENT than prevailing orthodoxy. Grant is a gold standard guy.

[AFRIKTODAY]

This isn't gangsta rap dude! The man has been a market icon for close to 20 years and there might be a reason why a lot of people are listening to his soft spoken style. Why? Cuz unlike many screamers out there like the fool named : JIM CRAMER; is always on point! I want to put my fist on Jim cramer face and grow hair on his bald scalp! What a snake oil salesman that fool is: Ok! Did I say" Abolish the FED?" AAAABBBBOOOLIIIISSSSH TTTTHHHHE EE FFFFEEEEEDDDDD!

[vinny1010]

"Printing Dollars on Wholesale level'  - LOL!! Why don't you just say it was printed out of nothing and is nothing!!?

[skmurray99]

Thanks for posting this lovely interview: Grant provides yet another angle to the contrarian (correct) view. Would love to hear more interviews of him.

[libertyeconomics]

Jim Grant is the man.

[cmcphee]

Huffington is an idiot....how did that moron get into politics in the US? dang FER-NER!

[MandrikSG]

Don't knock her because she's Greek. Knock her for what she says & does. There are plenty of us 1st generation Greek-Americans that are huge RP supporters. =)

[cmcphee]

Didn't know she was Greek BTW....just a little tongue-in-cheek humor there at the end.....Great to hear there are more RP supporters!

[whoo689]

Arianna Huffington doesn't know jack shit about business. I wouldn't trust her to do something as simple as managing my checkbook!

[cwhite54]

these people are all dumb as hell. no one will take a solid position and argue hard. everyone is just sitting back and throwing in a dumb ass opinion or question every once in a while.

[sonofaglitch2]

All of these people are media personalities solely, with exception towards the one intelligent individual on the panel, James Grant, of course. Don't expect much from these teleprompter readers.

[AFRIKTODAY]

Intelligent indeed you are as well. I bet there are a lot of bachelor in Elementary Education working for CimeteryNN and FOCK NEWS! I mean, if you can't get a job teaching kids the alphabet, you can always apply for these agencies of misinformation.

[libertyeconomics]

Same observation I made. There are a lot of fallacies underlying their questions. I can't clear them all up in this post, but 1)An output gap does not contain the effects of money-printing, 2)Money-printing IS THE INFLATION 3)EXPECTATIONS, NOR DEMAND, DOES NOT CAUSE INFLATION, even in the conventional CPI sense. Expectations, i.e., what people BELIEVE is going on with the currency CAN SET IN MOTION the CONSEQUENCES of the MONEY PRINTING. But the MONEY PRINTING IS THE CULPRIT.

[catch22point5]

cnbc. where the losers of 'are you smarter than a vegetable?' get jobs