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Jim Grant - A Trillion-Dollar Coin Is Not the Answer!

January 10, 2013 | About:
The always entertaining and obviously super-smart Jim Grant was on CNBC this afternoon. Some of his current observations include:

- The trillion-dollar coin is an urban legend.

- The constraints on government borrowing used to be interest rates and the gold standard; those two constraints are gone.

- Over the past 30 years the government debt has increased twice as fast as government revenue.

- Going back to the gold standard is a viable solution to the U.S. monetary problems. There is a limited amount of gold and it would act as a control over the politicians.

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