Hey, welcome to Grant's interest rate observer of the air.

I am Jim Grant, and to my left, as always, is Eric Whitehead.

He's the controls.

And at the other end of the telephone line, which stretches all the way to Baltimore, Maryland,

to North Charles Street in

Baltimore, Maryland, is my friend Porter Stansbury. Porter, welcome.

Thanks so much for having me. It's a tremendous honor. Well, it is a privilege on, as far as I'm

concerned as well. You know, Grant's listeners, you know Porter, even if you don't personally

know Porter. For one thing, he is a paid up subscriber of this publication, and we are paid up

subscribers of some of his, too. So it's like reciprocal, right? But beyond that, Porter is, I think,

about the most successful publisher of financial periodicals. Some people do kind of condescendant

and call them newsletters, but Porter has built a very wonderful large-scale business in Baltimore called

Stanbury Research. And he started it in 1999. He's the founder and editor of Stansbury's

Investment Advisory at Stansberry Research LLC. And he co-edits and edits other publications under

that umbrella as well. I guess he's got more than a dozen of these operations cooking at the same time.

Anyway, I've been to see him at his place of business and it is, let me just say, it does not resemble this place,

which consists of three or four guys sitting around typing and a couple of people doing purposeful work and circulate.

I mean, he has got industrial scale. So Porter again,

welcome. Thank you very much. I would like to begin, Porter, by asking you, as someone who does

marketing in a scale that has astounded me, the more I've come to know about it, how do you see

the American public and what it wants to do in money. What do people want to do and what do

people think they have to do and what are they afraid of doing?

...