Our favorite critic of the Federal Reserve Jim Grant was back on CNBC today discussing the consequences of QEternity.
Grant stated ‘there are always unintended consequences for interventions. Those consequences are now always what they intend. At Jackson Hole a few weeks ago, Bernanke enumerated 4 possible pit-falls for what they are up to.
There are 400 million possible pit-falls!‘
Grant states ‘we are lab rats in the financial markets‘ and ‘We are all living in a land of speculation and manipulation!‘
He goes on to discuss Bernanke’s arch-nemesis (the one NOT named Ron Paul) gold and silver, stating:
‘Central banks are bound and determined to debase their currencies. The best thing about gold is that it’s got no P/E multiple. Gold is a speculation on an anticipated macroeconomic outcome, the systematic debasement of currencies by central banks. They’ve done QE3. Why wouldn’t they do QE4? What intellectual argument do they have against doing it again, and again, and again?‘
This is what we’ve stated for several years Jim, and why QE will continue to Infinity…AND BEYOND!! until the point Bernanke pulls the last tool out of his toolbox and implement GOLD REVALUATION!
Full MUST WATCH interview below: