James Grant
BITCOIN IS ONE OF MANY BUBBLES OF HISTORIC PROPORTIONS TODAY SAYS FINANCIAL HISTORIAN JAMES GRANT
NEW THIS WEEK…
The balance sheet of the Federal Reserve continues to surge at an unprecedented rate, up 83% y/y to a historic level, $7.59 trillion at the latest count.
According to our WEALTHTRACK podcast guest, financial historian, and long-time market observer James Grant, interest rates, the “central pricing mechanism for financial markets” have been pushed to artificially low levels by the Fed’s policies which have created numerous market bubbles. He cites Bitcoin as one of the most extreme examples.
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CREDIT MARKET MAVEN AND HISTORIAN JAMES GRANT ON WHY INTEREST RATES MATTER
Why interest rates still matter with influential financial journalist and historian James Grant.
GRANT ON BAGEHOT: LASTING INFLUENCE
BAGEHOT: LASTING INFLUENCE
James Grant, the author of several books including biographies of Bernard Baruch and John Adams just finished one on Walter Bagehot, one of the most influential journalists of the Victorian era. Bagehot, editor of The Economist was himself an economist and expert on central banks. He became famous for his Bagehot’s rule which has been summarized as calling for central banks in times of financial crisis to: “lend without limit, to solvent firms, against good collateral, at ‘high rates’.” Grant’s “The Life of Walter Bagehot” will be published next year.
GRANT: INTEREST RATES MATTER
INTEREST RATES MATTER
Why interest rates still matter with influential financial journalist and historian James Grant.
WEALTHTRACK Episode #1518; Originally Broadcast on October 19, 2018
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JAMES GRANT
- Editor,
- Grant’s Interest Rate Observer
Newsletter available soon.
CASE FOR GOLD
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– Unloved
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– Underperformed other assets
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– Relatively cheap
Off 35% from 2011 high of $1900/ounce
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– Inflation hedge as inflation rises
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– Non-correlated to the stock market
GOLD ETFs
The Forgotten Depression: 1921: The Crash That Cured Itself
FUTURE LIQUIDITY
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Own some gold bullion
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– Financial anchor
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– Convertible to cash
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– Provides liquidity for bargain hunting
No stock mentions in this episode.
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BAGEHOT: LASTING INFLUENCE
James Grant, the author of several books including biographies of Bernard Baruch and John Adams just finished one on Walter Bagehot, one of the most influential journalists of the Victorian era. Bagehot, editor of The Economist was himself an economist and expert on central banks. He became famous for his Bagehot’s rule which has been summarized as calling for central banks in times of financial crisis to: “lend without limit, to solvent firms, against good collateral, at ‘high rates’.” Grant’s “The Life of Walter Bagehot” will be published next year.
GRANT & ZWEIG: ENLIGHTENING LITERATURE
ENLIGHTENING LITERATURE
Highly respected journalists and Financial Thought Leaders, James Grant and Jason Zweig each share a recently read book which has expanded their knowledge and perspective.
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