Jim Grant: How the Fed lost control & why bitcoin benefits
From Stansberry Investor Hour:
Jim Grant, publisher and editor of Grant’s Interest Rate Observer, joins the show to discuss his most famous profit forecast – a massively profitable bet against the housing market that would later be depicted in the movie The Big Short. Porter asks Jim if the Fed will ever lose the overwhelming power it holds, and you’ll be surprised to hear how Jim calculates how it already lost control a long time ago. Jim also weighs in on bitcoin and how it could be Silicon Valley’s “cry for help.”
You’ll have a good laugh when Jim recounts the moment he realized the housing market was in bubble territory. Just as interesting is Jim’s story of how he grew his newsletter business from an initial subscriber base of just 18 readers, to become one of most renowned and celebrated financial journalist of all time. Of course, it helped that his very first subscriber – the first-ever member of Grant’s Interest Rate Observer – was legendary investor Jim Rogers.
Crux note: Check out Porter’s latest podcast right here.