Friday, September 09, 2016

James Grant*:
The Federal Reserve Is Bluffing, 
Gold Bugs Will Prevail 
Kitco interview of James Grant* .. The Fed is bluffing, & no matter what happens with interest rates, it might be best for investors to stick with gold, this according to widely known Fed critic & Wall Street pundit James Grant who argues that the gold price will not be driven by the next move by the Federal Reserve, although most recent gold price fluctuations have been the result of shifting rate hike expectations. Instead, “it’s the revelation that we’re walking – or running – down the wrong path, and that we must regroup and formulate a monetary policy that’s based upon a lasting standard of value,” the popular newsletter publisher says. “I think a bet on gold, to me, is actually an investment in monetary disorder. It’s not a hedge against it because we have monetary disorder; I think what us, gold bugs are waiting for is the spreading perception that we have monetary disorder.” To Grant, central bankers’ policies around the world will make investors either “end in tears” or “laughter,” depending on how people position themselves .. 7 minutes

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