Jim Grant On The Monetary Priesthood's "Atlas Complex"

Tyler Durden's picture


The bow-tie-and-bespectacled Jim Grant once again takes the centrally-planned 'Office of Unintended Consequence' (aka The Fed) to task in a thoughtful exchange with Capital Account's Lauren Lyster. Reflecting on his recent opportunity to speak directly to various Fed officials, he found one particular question (on the perceived 'mass starvation' that occurred in the brutal earlier Depression beginning in 1920 which ended rapidly without the need for monetary stimulation) most disturbing in its summation of the central bank's 'Atlas Complex' - or how would we get up and go to work in the morning without them. The attitude of our Monetary Priesthood, he analogizes, is that unless they are active in their prayers and devotions, who knows what might happen? Grant goes on to discuss the hypocrisy of Bernanke (noting the importance of free market prices to his students and yet controlling interest rates overtly in the market-place) and highlights interest rates role as the traffic light signal in a market economy providing a critical input to our perception of value in stocks, bonds, real estate, Silicon Valley Startups, and so on and because these rates are manipulated we live and invest in a hall-of-mirrors leaving us with a distorted vision of the real-world. He notes that Americans, as typically recklessly joyous investors in growth, "remain in a miasma of anxiety due to the extreme unpredictability of policy action and this is what creates the tail risk of doubt and apprehension." Looking to the future he sees the constitutionality of Obamacare and the elections as a critical test in the war against supply and demand that is being waged by our central bankers and government.


Starting at around 1:50, Capital Account's Lauren Lyster begins by introducing Jim Grant's reflexive perspective of the world in a rather eloquent brief on just how our centrally-planned economy has veered from any notion of true capitalism.

The interview with Jim Grant begins at around 4:30

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Thu, 04/26/2012 - 20:03 | 2378681 chump666
chump666's picture

Lauren Lyster you are devine.

Thu, 04/26/2012 - 20:20 | 2378721 akak
akak's picture

Lauren Lyster strips vines?

Fri, 04/27/2012 - 08:28 | 2379654 icanhasbailout
icanhasbailout's picture

You had me at "Lauren Lyster strips"

Thu, 04/26/2012 - 20:32 | 2378734 vast-dom
vast-dom's picture

"tail risk" ;P

she is hot, especially when she does not speak.


"the recovery is un-American....." we are in the miasma!


Jim Grant truly is the man! Thank you Jim!!!

Thu, 04/26/2012 - 23:49 | 2379187 JW n FL
JW n FL's picture




she is hot, especially when she does not speak.

Jim Grant truly is the man! Thank you Jim!!!


+ 100 for that Twit keeping her mouth shut!

+ 1T for Jim! Jim is da MAN!



Fri, 04/27/2012 - 00:02 | 2379218 damage
damage's picture

I dunno...  I don't trust him anymore after that Romney plug... like any Republican but one or two would do what he's suggesting... I don't trust him now... sorry. Republicans just different wing of the same corrupt party...

Fri, 04/27/2012 - 12:03 | 2380406 ElvisDog
ElvisDog's picture

You are too severe on Lauren, JW. That part in the show opening where she walks across the stage is money. Great tits, great legs.

Thu, 04/26/2012 - 20:35 | 2378737 ihedgemyhedges
ihedgemyhedges's picture

She gives me dabone...................and no ring on that finger.  Man oh man oh man.................

Thu, 04/26/2012 - 20:36 | 2378757 dick cheneys ghost
dick cheneys ghost's picture

Brains and Beauty...............Her legs could solve the Global Financial Crisis

Thu, 04/26/2012 - 20:49 | 2378791 Firing Pin
Firing Pin's picture

Not to nitpick, but I've seen better!

Thu, 04/26/2012 - 20:53 | 2378801 A Nanny Moose
A Nanny Moose's picture

Sorry Warren, Lauren puts Becky to shame.

Thu, 04/26/2012 - 20:57 | 2378820 Firing Pin
Firing Pin's picture

LOL! Good one! 

Question: what is the most dangerous part of an airport?  

Answer: between Becky Quick and Warren Buffet's jet

Thu, 04/26/2012 - 21:38 | 2378907 moonstears
moonstears's picture

Two words to trump both IMO:Trish Regan

Thu, 04/26/2012 - 23:07 | 2379111 HD
HD's picture

I bet Trish wakes up every morning thrilled she no longer has to kiss Kudlow's ass for a living.

Thu, 04/26/2012 - 23:38 | 2379169 JW n FL
JW n FL's picture




Ron Paul on CNBC 4/23/12

 Published on Apr 23, 2012 by


Ron Paul Video Playlist

FAIR USE NOTICE: This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law.
congressman ron paul, 2012, presidential, race, candidate, republican, gop, Romney, gingrich, Obama, ron paul, primary, caucus, delegate, cnbc, federal reserve, monetary policy, gold standard, squawk box, Stephen Roach, Dino Kos, complete,

Thu, 04/26/2012 - 21:08 | 2378854 ihedgemyhedges
ihedgemyhedges's picture

So you're Secret Service???????

Thu, 04/26/2012 - 21:07 | 2378849 ihedgemyhedges
ihedgemyhedges's picture

I've been married 18 years and I DAMNED SURE KNOW THEY COULD SOLVE MY CRISIS!!!!!!!!

Thu, 04/26/2012 - 23:30 | 2379153 Freddie
Freddie's picture

She called Krugman an "academic" so she does comedy as well.   Amazing that Russia Today (RT) is far more objective than all USA Oba shit TV.

Fri, 04/27/2012 - 01:17 | 2379310 AldousHuxley
AldousHuxley's picture

if you want truthful news about russia, watch usa news

if you want truthful news about usa, watch russian news


competition is good. internet media means less controlled brainwashing.

Fri, 04/27/2012 - 05:28 | 2379472 James_Cole
James_Cole's picture

Sad but true to a large extent. If you want to find out the truth regarding any particular group, start with what their enemies say.

Reminds me of Farage, his ukip party are looney, but everything he says about the EU is pretty accurate and even better - espoused in a very amusing fashion.

Thu, 04/26/2012 - 20:53 | 2378806 brewing
brewing's picture

bullshit!  jim grant is divine...

Thu, 04/26/2012 - 23:01 | 2379095 HD
Thu, 04/26/2012 - 20:12 | 2378699 LetThemEatRand
LetThemEatRand's picture

Dear 1913,

In 2012, Russian television will be giving the United States a lecture on how to run a reasoned free market system, and will try to explain why the Federal Reserve needs to stop trying to manage the economy for the benefit of a few select elites.  


The Future

Thu, 04/26/2012 - 20:58 | 2378822 brewing
brewing's picture

ah, welcome back lter.  russian tv couldn't lecture any AMERICAN on a free market system.  who's giving you the ups, your extended family...

Thu, 04/26/2012 - 21:04 | 2378841 LetThemEatRand
LetThemEatRand's picture

Your mother.

Thu, 04/26/2012 - 21:09 | 2378853 brewing
brewing's picture

she died and was creamated last december...  i cared for her the year before...

Thu, 04/26/2012 - 21:14 | 2378868 LetThemEatRand
LetThemEatRand's picture

Nice try. As honest as your general point of view.   Fuck you.

Thu, 04/26/2012 - 21:18 | 2378877 brewing
brewing's picture

i feel sorry for you, because i speak nothing but the truth about my dear mother...

Thu, 04/26/2012 - 21:19 | 2378880 brewing
brewing's picture

and from this day, goodbye zerohedge...

Thu, 04/26/2012 - 21:39 | 2378901 LetThemEatRand
LetThemEatRand's picture

Fight club is not for you.  But Good riddance.  Economics 1996 in your other, purple form.  Enjoy your government contracting.

Thu, 04/26/2012 - 21:27 | 2378888 NewWorldOrange
NewWorldOrange's picture

Hey man, if you know a lot about the ideas of Ayn Rand (have read/studied her works as I have, though they're just one small source for me though an important one, and I've written and published things stemming in whole or part on her ideas/works), would enjoy chatting. You seem to have a very superficial and distorted view of her ideas, at best and you seem sort of obsessive about "hating" on her (I may be newly registered here this tiime but have read ZH since it's inception.) What's up with that? No offense, and none taken. Not looking for an argument, just a spirited, honest debate with someone who has really studied her but takes the "other side". Nothing you could say would "offend" me or anything. I'm not an "objectivist" by any means. Just leave a day/time here. Will check back later.

(I don't want to clog up the board with a debate on Ayn Rand, unless it's an article about her or her ideas.)

In the meantime, here's something awesome that Ayn Rand inspired:

http://www.youtube.com/watch?v=LQEgZNqa8jE  -- RUSH BITCHEZ!

Thu, 04/26/2012 - 23:56 | 2379204 dirtbagger
dirtbagger's picture

Well for one thing her book Atlas Shrugged is about 999 pages too long.

Thu, 04/26/2012 - 21:27 | 2378894 brewing
brewing's picture

-3, pathetic...

Thu, 04/26/2012 - 21:19 | 2378879 q99x2
q99x2's picture

Dear Future,

What is this "television?"


Thu, 04/26/2012 - 21:47 | 2378927 LetThemEatRand
LetThemEatRand's picture

Dear 1913,

Do you have FIOS or Brighthouse?


Thu, 04/26/2012 - 21:44 | 2378903 NewWorldOrange
NewWorldOrange's picture

"Dear 1913,In 2012, Russian television will be giving the United States a lecture on how to run a reasoned free market system, and will try to explain why the Federal Reserve needs to stop trying to manage the economy for the benefit of a few select elites. Sincerely, The Future"

Dear Russia in 1905,

This year, your nation will give birth to one Alisa Rosenbaum, later known as Ayn Rand, who will escape Russia in 1922 by herself at the age of 17 and come to America with nothing but the clothes on her back. She will, as a result of her own brilliance and hard work, have a profound influence on libertarian thought and grow personally wealthy from her writings. She will profoundly influence and inspire one great man named Ron Paul. He may become the America-saving President in 2012, or at least change the discussion in a way that could later be the saving grace. He would stop the criminal American government from trying to benefit a few select elites. Please do all you can to ensure that she makes the voyage over here. For example, please be sure to have a communist revolution that will disgust her and make her determined to come over here in the first place.


The Future

There. Fixed it.

Thu, 04/26/2012 - 21:45 | 2378924 LetThemEatRand
LetThemEatRand's picture

I envy the simplicity of your thinking. 

Thu, 04/26/2012 - 22:00 | 2378943 NewWorldOrange
NewWorldOrange's picture

Space is limited, though I could certainly more honestly and with much more to go on say the same of you. Have been reading your absurdities for a while now.

So I guess that's a "no" on the debate about Ayn Rand? Not up to the task eh? Answer me this, have you ever read even one of her books? In the absence of an answer, which is what I expect, I'll assume that's a "no" too ;)

We could go to chat right now. I'll wait around until at least 10:30 E.T. if you've got the stomach/balls for it, just post the exact time for the meetup time in reply to this post. Looking forward to it, and I promise not to be to simple for you.

Surely you have an in-depth knowledge of her works and ideas, to have devoted half your life to...um...discussing her all day after day for months, right? Let's see what you've got!C'mon, I can take an ass whoopin'. Wouldn't be the first time.

This is FIGHT CLUB! Challenge! Let's go! (I'm gonna' make the challenge until you take it so let's do this!)

Can you, and will you, back up ALL THAT TALK? I'm hearing crickets...

Thu, 04/26/2012 - 22:03 | 2378963 LetThemEatRand
LetThemEatRand's picture

Good luck with your Rand worship.  Not interested in wasting my time talking to you about it.

Thu, 04/26/2012 - 22:06 | 2378968 NewWorldOrange
NewWorldOrange's picture

Chickenshit idiot. I've read your comments about Ayn Rand for months. There's not a snowball chance in hell you've ever read even ONE of her books.

What a pussy. You should be on Huff Po you sissifed assbitch cocksucker.

Thu, 04/26/2012 - 22:08 | 2378975 LetThemEatRand
LetThemEatRand's picture

"Not looking for an argument, just a spirited, honest debate with someone who has really studied her but takes the "other side". Nothing you could say would "offend" me or anything. I'm not an "objectivist" by any means. Just leave a day/time here. Will check back later."

Your words to me a few posts earlier.  More honesty and integrity from the Rand crowd.   I didn't even need to respond to you to know that you are a dishonest asshole.  But thanks for proving it.

Thu, 04/26/2012 - 22:13 | 2378990 NewWorldOrange
NewWorldOrange's picture

I AM the Rand crowd. The others aren't "objectivists" either. Just strongly influenced by her, like me. So why you wussing out? THAT is the best bullshit excuse you can summon up? Holy cow, what a pussy. I've probably studied Ayn Rand, and read more of her works, than almost anyone here. Maybe everyone here. What's the holdup hitch? I'll be very civil. The chatroom is created, and I'm waiting.

Thu, 04/26/2012 - 22:17 | 2379000 LetThemEatRand
LetThemEatRand's picture

I guess it's better than L. Ron Hubbard.  Barely.  I'm glad that I don't ever have to read Tom Cruise spouting Randisms.


Thu, 04/26/2012 - 22:23 | 2379019 NewWorldOrange
NewWorldOrange's picture

Hey, you haven't even raad ONE of Rand's books, so how would you know "what's better"?

I could kick your ass on Scientology too, BIG TIME. That shit is more absurd than someone spending half their life for a year disparaging something they know NOTHING about.

Thu, 04/26/2012 - 22:26 | 2379020 LetThemEatRand
LetThemEatRand's picture

"I could kick your ass on Scientology too, BIG TIME."

Congratulations on that.  I'm sure that qualifies you for... ?

Thu, 04/26/2012 - 22:35 | 2379032 NewWorldOrange
NewWorldOrange's picture

For being able to discuss it frrom a position of KNOWLEDGE about it and having studied it, as opposed to spewing about it endlessly for months without knowing the first thing about or even having READ any of it.

What the hell? You're here, and posting, and reading my posts, and replying? Why not reply to the one I just posted with a question about Ayn Rand? ANYTHING but that huh? LMAO

Fri, 04/27/2012 - 02:26 | 2379353 StychoKiller
StychoKiller's picture

"Let Them Eat Rand" is completely in favor of Big Brother's gun(s), because they have yet to be pointed at Him/Her.  I find it amazing that Socialist/Progressives can always come up with arguments that the end justifies the means that for the most part are equivalent to:  "I'm just a little bit pregnant!"

"If you don't STAND for something, you'll FALL for anything!"

Thu, 04/26/2012 - 23:44 | 2379179 A Nanny Moose
A Nanny Moose's picture

At the very least, more up arrows than you.

Of course ideas can be persuasive. Bitter blathering, dissembling, and personal attacks? Not so much.

Thu, 04/26/2012 - 22:34 | 2379029 WonderDawg
WonderDawg's picture

Not in a gay way or anything (not that there's anything wrong with that) but I like the cut of your jib, NWO.

Thu, 04/26/2012 - 22:37 | 2379037 NewWorldOrange
NewWorldOrange's picture

Thanks Dawg. I'm usually not this insistent or confrontational, but this guy...I've read his trip for almost a year and never said a word. Just listened. He's never read a word of Ayn Rand. Simply amazing.

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