Wednesday, July 21, 2010

James Grant Suggests U.S. Dollar Is a Faith-Based Currency of Non-Intrinsic Value Manipulated by the Federal Reserve

James Grant says the incoming Federal Reserve Governors (Janet Yellen, Peter A. Diamond & Sarah Bloom Raskin) are unlikely to oppose novel solutions to our fundamental monetary dilemma that the U.S. dollar is a faith-based currency of non-intrinsic value manipulated by the Federal Reserve. This key point begins around the 2:40 mark.

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