In the midst of the government impasse market observer Jim Grant paid a visit to Bloomberg.
Grant's current observations include:
- Investors have again taken a liking to risk.
- The biotech sector with bubble like valuations shows that fear has receeded.
- China has to continue to buy U.S. Treasuries to keep its own currency down, but make no mistake China wants out of the U.S. currency.
- The dollar is a piece of paper with no intrinsic value; the amount of this paper continues to increase rapidly.
- The obvious way forward is a return to the gold standard.
