findyourbetter: Jim Grant: "Gold Is Nature's Bitcoin"

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homecontributorsarchivesforumszh-tshirtstoreglossarydonatemanifestorss Is the Stock Market Repeating the 1929 Run Up to the Great Depression? Posted by : George Washington Post date: 02/11/2014 - 13:43 Is History Repeating … Or Throwing a Head-Fake? The Next Big Thing in Finance! Posted by: Capitalist Exploits Post date: 02/11/2014 - 17:05 Crowdfunding is set to disrupt the finance industry. Its about time! SEC Lashes Out At Wolves Of Wall Street- Suspends 225 Companies Posted by: ilene Post date: 02/11/2014 - 16:54 That's it for your pump and dump scheme. User login Username: * Password: * Create new accountRequest new password To prevent automated spam submissions leave this field empty. Do NOT follow this link or you will be banned from the site! Zero Hedge Reads Alt-MarketBearish NewsBoom Bust BlogCapitalist ExploitsChina Financial MarketsChris Martenson's BlogContrary InvestorCoyote BlogCredit WritedownsDaneric's Elliott WavesDealBookDemonocracyDr. Housing BubbleETF DigestFibozachiGains Pains & CapitalGlobal Economic AnalysisGonzalo LiraHedge AccordinglyImplode-ExplodeInfectious GreedInvesting ContrarianJesse's Cafe AmericainLiberty BlitzkriegMarc to MarketMarket FollyMarket MontageMax KeiserMinyanvilleMises InstituteNaked CapitalismOf Two MindsOil PriceShanky's Tech BlogStratforTF Metals ReportTestosterone Pit The Burning PlatformThe Daily CruxThe Economic PopulistThe Hammerstone GroupThe Market TickerThe TraderThe Underground InvestorThemis TradingTrim Tabs BlogValue WalkView From The BridgeWealth.net

Home Jim Grant: "Gold Is Nature's Bitcoin" Tyler Durden's picture

Submitted by Tyler Durden on 02/11/2014 20:13 -0500

BitcoinCentral BanksFed SpeakJanet YellenJim GrantRealityTestimonyYield Curve

Having previously explained how "the Fed has its thumb and fingers on the scales of finance," and why it will end badly; Jim Grant takes today's testimony from Janet Yellen to task in this brief (but fun-filled) clip.

While the new Fed chair spoke at length, Grant notes she did not explain how "the Fed continues in this unprecedented exercise in price control," and in less than 30-seconds, the always eloquent founder of the Interest Rate Observer 'translates' her Fed speak into reality -

"What we mean to do is continue to nationalize the yield curve... and we would like to enlist the stock market in a program of wealth creation for the security holders of America."

The Fed has manipulated interest rates for 100 years but Grant adds, "never - until now - has it manipulated the stock market as if it were a lever of public policy."

His discussion ranges from the bubble in Biotech to holding Gold (which he describes as "nature's bitcoin") because it is "the reciprocal of faith in Central Banks."

Spend 135 seconds of your life to listen to this... way more informative than watching Bode Miller flop again (or Shaun White)...

And it seems CNBC saw fit to remove the reference to Bitcoin, gold, and faith in central banks - ironic really...

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Jim Grant: "Gold Is Nature's Bitcoin"... thats not what foneystar says Login or register to post comments Tue, 02/11/2014 - 20:16 | 4426169 BlackChicken BlackChicken's picture

True, but Grant nailed it though.

GOld is money and paper is nothing more than the ink that lines it. A promise to pay means nothing when the creditor is broke, and all nations are broke.

Even China is broke considering that what backs them is UST debt. And though they have bought gold hand over fist - and mined the shit out of their topography looking for it - it won't make a difference. Unless gold revalues to over $50,000 an ounce.

Then they will have gold and be paid back their debt with the paper gold that sits on the Fed's balance sheet. By then paper gold will be a way to keep the system going, but imagine when not even paper gold is traded, for lack of propietry.

Gold in the hand is all that matters when it comes to maintaining a store of wealth decade over decade.

And Jim Grant is ZH's gold.

MyStawks would at least give joe and Jane a chance to bank some coin if old Yellen keeps this from left to top right

"And it seems CNBC saw fit to remove the reference to Bitcoin, gold, and faith in central banks"

What a surprise!!

Bitcoin is fonestar's true love.

Bitcoin love you long time...

You have turned thousands of people off of Bitcoin because of your immature, deliberately annoying persona.

Perhaps that is by design.

What is sad is that regardless of your true intentions, you seem to have so little in the way of a real life. I really hope things turn around for you. I honestly do. Life is too short to spend it playing games on the internet. Step outside, roll up your sleeves and do something useful and productive. It will do you good.

Be nice to Fonestar He is worth his weight in Bitcoins.

naw, hes an attention whore who only comments at the begining of threads.

Jim Grant and Rick Santelli for......something !

Don't kid yourselves - 'they' love gold too.

I believe their is something more special about it outside of what we know. They've been getting us commoners to mine it for them since...

When gold reaches $50,000/oz, the dollar will be irrelevant.

Gold is the banker's spanker when he grows to be a wanker

Jim is the best.

The man who would be Fed Chair.

YES!

It should have happened this month. But no chance for sanity in the fiat Hall of Mirrors.

He may have nailed it but until the fed stops printing, It's all Bullshit!!!

saw that at lunch, good interview

Perhaps, one thing is for sure however, the laws of Nature and physics are what they are and always seem to do what they do regardless of the current dominant species...

I thnk about PMs differently I guess. In order to actually do or create anything real, you need energy.

because refined gold is rather inert and will hang out indefinitely and it takes energy to refine and produce refined gold, gold is also a store of energy/work, it's inert nature makes it a safe store of value. No surprise people have been willing to exchange their labor for gold for so long. Some people say that gold can be stolen. I know four generations in my family who have never had their monetary gold stolen.

I guess common sense just isn't taught anymore.

Humanity will be tricked by banksters over and over again.

However, if the energy invested into producing an ounce of refined Gold is more than the Gold is valued in a particular currency, doesn't it become a poor investment of said energy at some point?

Yes, I've held Gold, because people have faith in it as a store of wealth, and accept it in transactions.

Once the price of gold goes high enough (and it will), governments will sieze the miners thereof and keep it in the ground as their private "vault."

Gold will all the more belong to them not us, in other words, which is why cryptocurrencies are our only hope (with whatever PMs you might have serving as a backup).

Gold is not natures bitcoin. I love them both but they are similar and complementary but inherently different.

They have overlapping monetary functions but they are also unique in their own monetary way.

With an incredible amount of respect I gotta say...

"Gold is natures bitcoin" is the worst comment I hope to ever hear the illuminous Mr. Grant utter.

Gold is natures gold.

Bitcoin is natures bitcoin.

They both exist within the laws of our universe. Both are of nature. But different in nature.

And because they are different in the roles they play and their inherent properties, you are correct in saying that gold has failed to End the Fed or measure inflation, Bitcoin will succeed.

"Internet Reformation" Bitchez

Cryptocurrencies do not make any sense unless government makes them a legal tender and force you to pay taxes and debt in them. I can create my own cryptocurrency using available technology as everybody else can. And I can create as many as I wish. Some that will have one virtual coin only and nobody will be able to counterfeit any of them. What will be the dollar value of such a coin? Billions of dollars? And if everybody else creates their own coins and many types of them what will be their values. Billions of dollars as well?

Gold can be stolen or confiscated but it will always have a value related at least to the energy needed to produce it and it will be independent of governments.

dick, I guess you havent heard of the mining mortaratum in california and oregon. no dredging. " beacuse of the fish" already begining.

Dry cells and Excel spreadsheets for the FED!!!!

Very valid point about energy being the prime mover for production and creativity.

As far as PM's being stolen, after the Civil War most Southern homes of value were looted and burned. Wealth consisted of land, buildings, crops, investments and silver - in the form of household furnishings.

The buildings were burned to the ground. Investments in Confederate bonds evaporated. Crops were destroyed and the means of production (slaves, machinery, etc) removed.

That left silver. Candlesticks, forks and magnificent tea sets made in England. I have seen some truly stunning examples.

This last line of wealth had to be hidden from the Union Army as they burned homes to the ground, threatened women with having their husbands shot, and bribing slaves to give up the hiding places.

They never found most of them.

A sack tied in the top of a tree is a damn hard thing to find. Lots of trees in my neck of the woods.

Preppers that are obsessed with burying shit in PVC pipes in the ground simply haven't read history.

We've been through this before.

Disregarding the bow tie, by God, the man might be on to something !

...the 'other Jim' sports a bow, too....maybe its some sort of secret society thing?Never saw Greespam or his acolyte in one....

http://www.youtube.com/watch?v=-4qUXcXuMSE
Jim Croce - Greatest Hits - You Don't Mess Around With Jim
.
slim jim !

Did anybody recognize the idiot who was lost on the set ?

Looked like Barney Frank to me.

Pronouced Bwarny Fwank, which is a mouthful that this cocksucking sociopath knows all too well about.

He was looking for his post 5 bj

Back when I was brand new on ZH somebody posted up the following (paraphrasing as best I can remember):

"Guys, they control the money supply. They can keep this game going for a LONG damned time."

For some reason, that comment has stuck with me to this day. Every time I hear about these type of cautions I remember that phrase and, if I had the chance, I would ask Jim Grant the following question: "Ok, so the Fed has it's finger on the monetary scales. I agree. What would ever make them voluntarily take their finger off again?"

Nooses and guillotines.

Stop it. I'm getting all misty.

Let's get modern. Air compressors and nail guns.

They can keep it going a long time, but not forever. All central banks have inflated the currency supply and now all that needs to hppen is an invrease in volacity. It could come any day and in any form - China declares their actual tonnege to the IMF, or China doesn't show up for US Treasury auctions causing the Fed to prime the pumps harder. In either case price would increase for variable goods. This would increase volacity.

True, when it comes, it WILL come from a direction few are looking.

But remember that all the big players involved know the stakes. Potential monetary "troublemakers" are beeing weeded out with haste and extreme prejudice (for example, potentially disruptive politicians across southern Europe). They're all being quickly replaced with those who will repeat the lie and keep the ponzi going. The ponzi-aware "adults in the room" know they're fucked if it all comes crumbling down so they're circling the wagons and protecting their own. They continue to win, everyone else is slowly pushed underwater and drowned to accomplish that goal. It sound incredibly unstable, but it's more stable than the numbers indicate because of the small number of people running things, with the same understand and the same goal in all their heads.

perhaps ....?
http://www.silverdoctors.com/gold-and-silver-china-russia-call-the-money...
GOLD AND SILVER – CHINA & RUSSIA CALL THE MONEYCHANGERS’ BLUFF!
FEBRUARY 11, 2014 BY THE DOC

Thanks, Blindman. I liked that article a lot. I posted up a similar thought months ago on ZH where I argued that those who clearly have extensive control across Western (developed) countries get a much chillier reception in places like China, the Middle East, etc. because it's just not a compatible culture to where they gained their power. The same playbook doesn't work. I was bombed out of the thread with red arrows.

Fortunately, I don't count down-arrows. A little trick I learned from the BLS.

the down arrow crowd is replete with assholes. imho
you can't trust them or value their sentiments, they
do not know the first thing concerning communication.
consider them all agents of ignorance, they know not what
they do...., have pity but put them in their stew for their
own sake and good!
.
PETER SCHIFF TELLS CNBC: GET READY FOR A GOLD MOONSHOT!
FEBRUARY 11, 2014 BY THE DOC
http://www.silverdoctors.com/peter-schiff-tells-cnbc-get-ready-for-a-gol...
.
taper is a head fake to jawbone away the revelation of
the cause of the failed design, structure and fuck-tion.
(the fake fraud, usury, money system)
phony use of mathematics, non-musical, perverted even.
.
one cannot jawbone the leaning tower of
pizza back into a plumb spacial orientation.
.
trusting in a designed and confirmed fraud and lie has a temporal
limitation, inherently unstable and unsustainable.
drama where none is needed, ongoing.

Just like what happened to the Soviet Union, they can control the money, but they cannot control the supply chain. When, and only when, essential commodities cannot be delivered (at any "price"), then people will start reclaiming their freedom and responsibilities.

At that time, compensation will return to people who's labor/knowledge is actually worth a shit. Paper-pushing fucks will find themselves out of luck.

Agreed, but we're more than just a few years away from that being a problem.

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Thursday, February 13, 2014

Jim Grant: "Gold Is Nature's Bitcoin"

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