Judy Shelton, a former economic advisor to President Trump and advocate for sound money, dives deep into the complexities of monetary policy. She passionately critiques the Federal Reserve's accountability and proposes a return to gold-backed Treasury bonds. Shelton discusses the collapse of Bretton Woods and its lessons for today, advocating for Bitcoin as a potential reserve asset. She also explores the interplay between geopolitical events and the dollar's status, emphasizing the need for monetary integrity in a rapidly changing economic landscape.
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Predicting Soviet Collapse
Judy Shelton used her Soviet economy research to predict the Soviet Union's bankruptcy in the 1980s.
This insight led her into national security discussions and testimony at a Senate hearing.
insights INSIGHT
Bretton Woods' Monetary Stability
The Bretton Woods system stabilized international trade through fixed exchange rates and gold convertibility.
Its collapse in 1971 led to currency instability and loss of monetary integrity.
insights INSIGHT
Stable Money, Shared Prosperity
The Bretton Woods era saw less wealth inequality and broad economic growth.
Stable international monetary foundations promote shared prosperity and productivity.
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The Coming Soviet Crash examines the dire financial situation of the Soviet Union during Gorbachev's era, highlighting its heavy reliance on military spending and its desperate need for credit from Western financial markets. The book predicts the imminent collapse of the Soviet system due to these economic strains. Judy Shelton discusses the implications of Western financial aid to the USSR and the stark differences between the U.S. and Soviet economies.
The Wealth of Nations
Adam Smith
Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.
Good As Gold
How To Unleash The Power of Sound Money
Judy Shelton
Natalie Brunell is joined by renowned economist and monetary scholar Judy Shelton, former advisor to President Trump and outspoken advocate for sound money. Judy shares her deep insights on the Federal Reserve, gold-backed monetary policy, and the future of economic stability in the U.S. and abroad. She also reflects on her controversial Fed nomination, the collapse of Bretton Woods, and her views on Bitcoin as a potential reserve asset. Topics discussed include:
Why Judy Shelton believes the Fed is unaccountable and whether it can be reformed
The case for returning to sound money principles
Her proposal for gold-backed U.S. Treasury bonds
How marking gold to market could address national debt
The collapse of the Bretton Woods system and lessons from it
Currency manipulation, trade imbalances, and tariffs
The rise of Bitcoin and how it compares to gold
Why her Fed nomination was blocked and what it revealed
The future of the dollar as a global reserve currency
How alternative currencies like Bitcoin could restore market integrity
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This interview provides a powerful look at fixing or replacing today’s broken monetary system.
Guest Bio: Judy Shelton is a former economic advisor to President Trump, and a Senior Fellow at the Independent Institute and the author of "Good as Gold: How to Unleash the Power of Sound Money." She is known for her advocacy for a return to the gold standard, and for her criticisms of the Federal Reserve. President Trump nominated Shelton to the Fed in 2019. She holds a Ph.D. in business administration, with an emphasis on finance and international economics, from the University of Utah. Follow Judy on X at https://x.com/judyshel
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