When most of Wall Street expected the Fed would taper
its asset purchases starting in September Jim Grant predicted it would
not, and he was right on the money. The editor of Grant's Interest Rate Observer
is a student of the Fed who closely follows global interest rates and
financial markets, but he's not a fan of the U.S. central bank, or any
other major central banks for that matter. And that's why he's bullish
on gold.
"The world ought to have much
less faith in central banks, and as that reasoned distrust of a broken
model grows, the gold price, I think, will appreciate," Grant tells The
Daily Ticker. "Gold is cheap at this price." (more)
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