Jim Grant admits his surprise that Treasurys have held up so well, and at bond traders’ apparent...

|By:, SA News Editor

Jim Grant admits his surprise that Treasurys have held up so well, and at bond traders’ apparent lack of concern about the U.S. debt debate: “People have come to view Treasurys as intrinsically safe when in fact they’re pieces of paper emitted by a government that is cash-flow negative and the printer of the world’s reserve currency." A gold standard is "going to happen," he adds.