James Grant

James Grant is an American writer and publisher. He founded Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets published since 1983. He has also written several books on finance and history. Grant served as a Navy Gunner’s mate, graduated from Indiana University, and received a master’s degree in International relations from Columbia University.

Grant is the author of Money of the Mind (1992), The Trouble with Prosperity (1996), John Adams: Party of One (2005), Mr. Speaker: The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster (2011), and The Forgotten Depression (2014) among other works. His most recent publication is Bagehot: The Life and Times of the Greatest Victorian (2019), a biography of Walter Bagehot.

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Free Market James Grant

The banking dilemma seems eternal, like the monetary dilemma, the tax dilemma, and the marital dilemma. The essence of the banking dilemma, however, is that the depositors' money is not in the vault awaiting the depositors' decision to withdraw it. Instead it is out on loan or invested in the money market or in mortgage-backed securities.

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