Should we trust a Federal Reserve Chairman who was oblivious (and party) to the creation of the largest housing bubble in American history? Or should we trust individuals like Jim Grant who have a track record of correctly warning in advance of pending financial disasters?
I think the answer is pretty obvious.
Grant was on CNBC today discussing the fact that he is certain that the result of Central Bankers worldwide engaged in multiple years of massive easing is immense inflation. Grant is smart enough to admit that he doesn't know when that is going to happen, but he is certain it will.
He currently sees an absence of bargains in the bond market, but does have one place where he thinks bargains exist on an absolute basis, small cap gold miners.