Diligent, humble students of market history are valuable in flagging the risks in advance and in walking others through these times of crisis with a cool head. More than just a cool head, some of us also see our role as trying to get our clients and readers through these times with their capital in tact.

One of the people with valuable perspective on these issues is Jim Grant of Grant's Interest Rate Observer. You can watch his most recent interview this week on Bloomberg "Taking stock" here:

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