Jim Grant: The Current Monetary System Is “Collectivist Top-Down Tyranny”

“Jim Grant has backed a return to the gold standard in comments made at a debate last night in New York, saying, “American needs a debit card, not a credit card” (via the New York Sun).

Grant was backed in the debate by David Stockman, former Reagan OMB director, said, “The gold standard wouldn’t have allowed forty years of deficits.”

And while Edward Chancellor, of GMO, and Richard Sylla, an NYU professor, both expressed doubts over a return to the gold standard, Grant argued its superiority.

From the New York Sun: ”

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