- The Fed would fail a bank audit- the central bank is under-capitalized. (of course to recapitalize themselves the Fed just prints money)
- Proposal to audit the Fed circulating in Congress (bill) is a good thing.
- Quantitative easing (printing money) will lead to inflation (what a surprise!)
- Zero overnight rate is setting us up for moral hazard.
Wednesday, June 10, 2009
The Fed according to Jim Grant
Some of the comments by Jim Grant, editor of Grant's Interest Rate Observer to CNBC: