Wayne Jett: Gold Standard vs. Keynes – Which is Crazy?

03 Economy

President Donald Trump has nominated Dr. Judy Shelton to the Board of Governors of the Federal Reserve System. As a Fed governor, Shelton would also sit as a member of the Federal Open Market Committee, the body which sets Fed monetary policy. Shelton has openly discussed benefits of using gold as a tool for managing the dollar’s value and even a return to the gold standard by nations involved in international trade. However, the predominant Keynesian advocates of floating values for fiat currency presently produced by the Fed are already attacking Shelton as macroeconomically illiterate and are, of course, supported in this attack by mainstream allies in major media. Shelton’s nomination is likely to be beneficial in resolving major concerns presently afflicting international trade relations and U. S. financial stability. Each mile of progress begins with one step, and this is a good one.

GOLD STANDARD VS KEYNES: Which Is Economically Illiterate?

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