U.S. Rep. Ron Paul | James Grant |
James Grant
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:1
Mr. PAUL. Mr. Speaker, it has recently come to my attention that James Grant has made a public warning regarding monetary crises. In an Op-Ed entitled “Every Currency Crumbles” in The New York Times on Friday, June 19, 1998, he explains that monetary crises are as old as money. Some monetary systems outlive others: the Byzantine empire minted the bezant, the standard gold coin, for 800 years with the same weight and fineness. By contrast, the Japanese yen, he points out, is considered significantly weak at 140 against the U.S. dollar now to warrant intervention in the foreign exchange markets but was 360 as recently as 1971. The fiat U.S. dollar is not immune to the same fate as other paper currencies. As Mr. Grant points out, “The history of currencies is unambiguous. The law is, Ashes to ashes and dust to dust.”
James Grant
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:2
Mr. James Grant is the editor of Grant’s Interest Rate Observer, a financial publication, and editorial director of Grant’s Municipal Bond Observer and Grant’s Asia Observer. He has also authored several books including the biographical “Bernard Baruch: Adventures of a Wall Street Legend”, the best financial book of the year according to The Financial Times “Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken”, “Minding Mr. Market: Ten Years on Wall Street with Grant’s Interest Rate Observer” and “The Trouble with Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings”. He is a frequent guest on news and financial programs, and his articles appear in a variety of publications.
James Grant
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:3
[From the New York Times, June 19, 1998] EVERY CURRENCY CRUMBLES (By James Grant) Currencies, being made of paper, are highly flammable, and governments are forever trying to put out the fires. Thus a half decade before the bonfire of the baht, the rupiah and the yen, there was the conflagration of the markka, the lira and the pound. The dollar, today’s global standard of value, was smoldering ominously as recently as 1992.
James Grant
Sometimes The Economy Needs A Setback
10 September 2001 2001 Ron Paul 77:1
Mr. PAUL. Mr. Speaker, I encourage each and every one of my colleagues to read and heed the insights contained in James Grant’s Sunday New York Times article entitled “Sometimes the Economy Needs a Setback.” Mr. Grant explores the relationship of technology to the business cycle and identifies the real culprit in business cycles, namely “easy money.” Grant explains:
James Grant
Sometimes The Economy Needs A Setback
10 September 2001 2001 Ron Paul 77:4
[From the New York Times, Sept. 9, 2001] SOMETIMES THE ECONOMY NEEDS A SETBACK (By James Grant)
James Grant
Sometimes The Economy Needs A Setback
10 September 2001 2001 Ron Paul 77:18
James Grant is the editor of Grant’s Interest Rate Observer.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.