Jim Grant Must Watch: "Capitalism Is An Alternative For What We Have Now"
Jim Grant is simply brilliant in this must watch interview with CNBC's Maria Bartiromo, which we won't spoil with commentary, suffice to provide the following pearl of an exchange:
Maria Bartiromo: "What are the alternatives?"
Jim Grant: "Capitalism is an alternative for what we have now. I highly recommend it."
Maria: "We all do."
Grant: "No we don't."
Maria: "The Federal Reserve may not."
Grant: "We ought to be discussing an intelligent move to a sound currency by which i mean a currency that is based on a standard and not at the whim and the discretion of a bunch of mandarins sitting around Washington D.C."
In other news, Joseph Stalin has never been happier in his grave that Ben Bernanke has decided to shoulder the legacy of central planning and is firmly committed to proving that where Vissarionovich failed, the ChairSatan will succeed. At any cost.