Another day, another Jim Grant appearance on Bloomberg. This time Tom Keene conducts the interview during his "Surveillance Midday" program.
They discuss Central Banking and QE2. Grant says that the gold price reflects the investing public's faith -- or lack thereof -- in what he terms "the PhD standard." He calls gold a "legacy currency" and says what's needed is something that can't be created by (and I'm paraphrasing) adding digits on a computer.
Keene asked him about the gold standard. Grant''s for it, noting that it wasn't without problems, but remains the least imperfect of any currency standard in human history.
A few more things are discussed. Then at the end, Keene asks what he's finding attractive these days. Grant says he's increasingly liking the big blue chips that have "gone nowhere" for a decade.
The interview is less than 10 minutes. You can watch it here.