“US will resolve debt by returning to gold standard,” Grant tells King World News

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Eric King of King World News recently conducted an excellent interview with James Grant, one of the legends of the investment world and editor of Grant’s Interest Rate Observer. He is the author of five books on finance and financial history, with his latest book, “Mr. Speaker! The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster”, soon to be released.

“I think there’s an intellectual cock-sureness that has no grounding.  When you listen to Ben Bernanke as he held forth on Sixty Minutes at the end of last year assuring the journalist doing the interview that he, Bernanke, was 100% sure, 100% certain of what he could do, you cringe because nobody is 100% sure of anything in this world,” said Grant. “Nobody who’s been around the block once or twice is sure of anything except perhaps the date of the week and even that, some days one wonders is it really Wednesday? So Bernanke, he has I think the professional economist’s self confidence that somehow these people imbibe in graduate school. I think the pseudo scientific nature of quantitative economics empowers them in a way that other mortals could never fully appreciate. But whatever it is they think they know, I know one thing, and that is they know less.”

Click here or on the image below to listen to the interview.

Source: King World News, January 29, 2011.

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