Taps Coogan – July 31th, 2020

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Grant’s Interest Rate Observer founder and editor, Jim Grant, recently spoke with CNBC about the Fed’s increasingly radical policy and the rise in the gold prices. Mr. Grant notes that the Fed and the Treasury are challenging the basic economic notion of scarcity by creating excess liquidity in an attempt to stimulate demand while 32 million Americans are out of work and thus not producing goods and services. Or, as Elon Musk recently noted: “If you don’t make stuff, there’s no stuff.”

Enjoy the full interview below:

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