Trump’s New Fed Pick Knows How to Fix Our Money

Here comes the gold standard.

Ohh… how a guy can hope.

Just before the nation took off to shoot explosives into the air, slug a few patriotic beers and salute its tanks on the streets… Trump made a bold move.

In a series of tweets that will someday be printed out and framed in the halls (or executive bathrooms) of the Treasury, the president pointed at a few folks and beckoned them to join the Federal Reserve.

Unlike his other picks – who the media quickly villainized – these folks are swamp dwellers.

There’s no getting around it. The swamp monsters who get the final say in such things don’t take all that kindly to freethinking outsiders.

But these swamp dwellers come from the gilded end of the bog.

Or at least one of them does.

Judy Shelton is quite an unconventional pick for the Fed.

Go Gold

She wants lower interest rates… and, yes, a return to the gold standard.

“I would lower rates as fast, as efficiently, as expeditiously as possible,” she said last month.

But anybody who’s bothered to scratch their head over the notion of ultra-low (or even negative) rates must conclude that the idea sends shockwaves through the global economy.

The dollar will weaken…

Inflation will jump…

And a buck won’t be worth a buck…

So what’s Shelton’s response?

Oh my, it’s a thing of beauty.

Go back to gold, she says.

“In proposing a new international monetary system linked in some way to gold,” she recently wrote in a piece for the Cato Institute, “America has an opportunity to secure continued prominence in global monetary affairs while also promoting genuine free trade based on a solid monetary foundation.”

Move over, Janet Yellen… We’ve got a new crush. A new money honey is moving in.

Shelton gets it. She knows that if we never thumbed our nose at the shiny metal, America could not have gotten herself into such a nasty debt mess.

Again… in her words: “We would never have reached this position of extreme indebtedness were we on the gold standard because the gold standard is a way of ensuring that fiscal policy never gets out of line.”

Planning for a Bust

Of course, Nixon wasn’t looking far into the future when he slammed the gold window shut. He likely never envisioned the spending spree Congress would embark on… or the economic boom it would all create.

But all booms go bust.

That’s what Shelton’s worried about.

She’s not dumb. She knows America must stay on top. That’s why she keenly reminds folks that Uncle Sam owns more gold than anybody else… some $345 billion worth.

Congress isn’t going to like Shelton. The path to nomination is surely lined with traps and daggers.

Trump’s other nominee will surely have a better go of things.

He’s far swampier.

Christopher Waller already works at the Fed. He hails from academia. And he’s a devoted fan of Fed independence.

He’s a shoo-in.

But Shelton… she’s our gal.

She gets it. She knows what ails this country and its money.

And she knows how to fix it.

She doesn’t stand a chance.

Note: With or without Trump’s latest nominations, the Fed could soon make a bold move. And it involves America’s No. 1 asset. If you fear for the value of your money… don’t worry. We recently outlined five things you can do right away to help steer clear of what’s to come. Click here for all the details.

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