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James Grant, Fed Opponent: "Your money is not really yours if the government needs it."

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great stuff

He could use some more exposure, IMO. He seems to be on the "B list" of big name Austrians for some reason.

A signature used to be here!

Guess this explains the hollow point bullets.....you take

our money and we got the guns and we shoot you so you shoot us first.

I am buying cans of pineapple with ring-top pull-off openers.....I know they have value..............I will be eating pineapples when the banks are empty.


Copper as a bellwether


Defeat the panda-industrial complex

I am dusk icon. anagram me.

In double speak

stealing money is called "stability contribution". Because the markets and the people still trust the central banks some how the masses think what is happening will somehow work itself out? As Grant said, it is because of the conceit and suppression that the course the Fed and central banks are on is destined to fail.

Been saying this for

Been saying this for years... GET OUT OF YOUR IRA'S, 401K'S ETC. They will be stolen from you.


now I see why Dr. Paul would have chosen Jim Grant as his Fed chairman.

That guy is on the money.

Why can't Rand Paul, Justin

Why can't Rand Paul, Justin Amash, and others make ending the Fed their main priority? Americans are increasingly aware of the problems with private central banking, yet even our "leaders" in the Liberty movement in DC, rarely bring it up on TV, or in interviews. IMO, they need to talk about it much more.


I think this issue is on the table. Bill S. 209 was introduced to the Senate on Feb 3rd of 2013. of course, the Lame stream media never talked about it. Still with only 24 co-sponsors in the Senate it is very unlikely to pass the vote right now, let alone get the Gun grabbing Socialist to sign the bill if it arrived at his desk.

Its important to note there are a lot of people in America who whole heartily TRUST this absurd Ponzi Scheme. Those people are going to feel betrayed and that may just be our opportunity to Audit such an weakening institution. the prediction of a coming currency crisis and the need to purchase Precious Metals is radiating everywhere. I think there is a lot more talk then there ever has been IMO

His name is Edward Snowden

What is Capitalism?

James might be wrong

on one thing. He said "market will always have the last word." That is if USA would continue the "mixed economy" of corporatism at the present level. However, nothing can stop the power of the majority (affirmative-action recipients, trade unions, progressives, government workers, students, military vets and elderly) to tighten up corporatism towards total fascism as a way to achieve immediate relief (foodstamps, extended unemployment, social security, student loans, veteran disability, etc, etc.)

Cyril's picture

Sometimes "black", if, and as long as necessary

By the oft-heard phrase "the markets always prevail eventually" (which I believe is historically true, only a matter of time) it is also often understood :

EVEN IF those markets have to go through periods of "black" - blackmarkets.

Blackmarkets, a sort of degenerated form of free markets ("degenerated" because not quite free, when mafias are involved too, in addition to the police) have proven to be the very classic reaction of peoples against tyranny or overwhelming statism trying to impose by force whatever worthless currency it can devise on the "official market" managed by the bureaucracies.

And blackmarkets, by definition, don't care for a nano second what is deemed "money" by the state - only real, tangible assets matter. With more or less barter, price discovery and trade can follow, just as on "free and open" markets worth the name, it's just a lot more tedious for everybody on blackmarkets that have the additional constraint to hide from the state, besides the natural supply/demand laws.

Still, in such times, people usually prefer what's to be found on the blackmarkets than rely/beg to the state - we can just ask the Italian, French, etc under the Nazis' boots, or Russians under the Soviets'.

(Just a complement, not meaning to argue otherwise.)

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Martin armstrong

As Martin Armstrong (www.armstrongeconomics.com) once said (paraphrasing): "Man is insolent enough to think he can design intelligent system to control free markets. But the free market will ALWAYS have the last word. We can either go there voluntarily, or we can go there kicking and screaming". We may go through Fascism and Communism (that's us kicking and screaming), but we will end with Free markets (assuming we don't destroy the planet in the process).

So, he's essentially right that the market will have the last word, but unfortunately you are correct as well. We're choosing the harder path to get there.

Ron Paul 2012

Then you

disregard the will of the majority, power of ideas and blindly believe in destiny, not unlike Marxists believed in historical dialectics. I, on the other hand, can envision the earth where technological productivity is enough to provide a single room, old computer, basic food and gay bathhouse at the block. Since economic stagnation was a norm before 1800's, I wonder why the same cannot continue further, with technology slowly advancing by few men of ability. There is no indication that progress is a constant force or the main point of natural evalution.

I read your comment 4 or 5 times.

I have absolutely no idea what it means. You began questioning the market's ability to overcome the government's manipulation and wandered off into your utopia of a single room, old computer, basic food, and a gay bathhouse at the block. WTF?

If you are not on Anti-Anti-Semitism patrol or Anarchist/Mexican/Arab bashing your every comment is non-sequitur.

Why Would the Gov't "Need" Depositors' Money?

...if the Fed can just "print" it for them? Seems to contradict those who believe inflation to be the chief threat (Grant included).

SteveMT's picture

Printing presses devalues everyone's money including theirs.

Confiscating our money that is already in existence not only makes us poorer, the remaining money that is in their hands is now worth more. It's a win-win for them.

Does anyone know what we can do with our IRA's??

I mean, if we cash them in, it's a HUGE TAX prior to 59 1/2 with the added 10% penalty that our wonderful Congress set up, jerks! And, even if you are that age, it's a HUGE TAX and counted as "income" for the year which jettisons people into the highest tax bracket usually.

However, if we don't do that, then, a Cypriot crime theft could occur, and then, we'd be DOUBLE-TAXED...this is very disconcerting.

I believe all hell would break loose in America. Somenhow, I just don't think that would fly with Baby Boomers. It would probably be the ONE THING that would get them OFF the golf course and into their cars to Washington D.C. to wrench the politicians OUT of their cushy offices, once and for all.

Clearly, they would have a bigger problem in America, as compared to Cyprus. Taking AFTER-TAX CASH out of our banks is easy, but what about the IRA's, etc. What do you guys think?

SteveMT's picture

The 401k money is there for the taking. That's true.

Many of us have these accounts. What's different from Cyprus is that we have guns, lots of guns. The government won't just take our money outright (hope not, anyway). They will say that they are helping us and protecting our money from those nasty crooks in the stock market. The gold IRAs, which I have, are prime targets. I hope to get mine out in time. Wishful thinking helps.

There Is Nothing To Confiscate

No one confiscated anyone's money in Cyprus. Much of the "money" simply no longer exists. It disappeared back into thin air when the banks' "investments" lost much of their value making them insolvent.

SteveMT's picture

People had to work to make that money.

The banks made that earned money disappear. The banks create money out of thin air, but we have to work for it. There is a big difference when they just take it away from us.

The reason why has nothing to

The reason why has nothing to do with whether the FED can print or not. It is about confiscating wealth so that the people are dependent on Government after the collapse. If you have money, gold, silver food etc. you can tell the Government to go take a long walk off a short pier. It is about CONTROL.

She should have asked that question---

I agree she should have asked him, well, if the FED and World Central Banks can print all this money, then, why do they need to seize innocent people's savings accounts?

I'd like an answer on that.

Grant is

one of the premier speakers on the market. One can learn a lot from listening to him.

This video is very educational especially coming from a financial regulator.

Grant isn't a financial

Grant isn't a financial regulator.