Where's GOLD propononet Judy Shelton in Trump 2024 cabinet?

https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

Gold-Backed or Bust: Judy Shelton’s Plan to Tame the Fed and Restore the Dollar

Judy Shelton has spent her career advocating for sound money. Her latest book, Good as Gold: How to Unleash the Power of Sound Money, makes an up-to-date case for reinstituting a gold standard. Her intriguing conclusion is that the dollar can be reconnected to gold by simply issuing federal treasury bonds with gold-redeemability clauses. The book also addresses recent events and important current debates about monetary systems like whether central bankers should have wide policy discretion, whether fixed or floating exchange rates are better for economic growth, and what happens when countries manipulate their currency to boost exports.

Dr. Shelton engages these questions in the context of academic debates, but she also uses the lens of rational economic planning to evaluate how the monetary system contributes to or detracts from economic growth. At the end of the day, the case for sound money rests on the claim that it will generate more stable and greater long-run economic prosperity. Dr. Shelton believes sound money will do just that. But what would such a sound money regime look like?

Although Dr. Shelton would prefer a system along the lines of a classical gold standard, she would probably be content with other monetary systems that dramatically reduced the discretion of policymakers. The real problem with our current monetary regime is not primarily technical. It is behavioral. Because public officials have strong incentives to inflate the currency, bail out various corporations, and underwrite extensive government borrowing, they do a poor job conserving the value of fiat currency or providing a predictable stable system of interest rates, credit, liquidity, etc.

In the first couple chapters of Good as Gold, Dr. Shelton takes the Federal Reserve to task. The wide discretion Fed officials can exercise makes monetary policy unpredictable. Although Fed officials argue that their decisions are countercyclical, that may not always be the case. As Milton Friedman famously noted, the effects of monetary policy decisions have “long and variable” lags. Despite claims to being “data-driven,” Federal Open Market Committee (FOMC) decisions remain unpredictable. Data can change rapidly and unpredictably, which can make policy change rapid and unpredictable too.

continued:

https://x.com/judyshel/status/1857085033091125559

Pinned

Judy Shelton

@judyshel

Wonderful conversation with revered colleague Larry Kudlow on Tuesday ⁦

@FoxBusiness

8:35 AM · Nov 14, 2024

>>22011832 Judy Shelton? Where will she be Trump Admin?

Continued: https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

Another problem is that the “data-driven” mantra invokes the assumption that the data always clearly indicate what ought to be done. In fact, this is rarely the case. Not only do a wide variety of inflation measures exist, but there are also a wide range of time intervals over which to compare inflation trends. But that’s not the worst of it!

Employment, unemployment, GDP, and a host of other economic numbers suggest different things are going on in the economy. Retailers expect strong record spending this holiday season while the NY Fed just released a study where the number of people reporting concern about their ability to make debt payments hit its highest level since 2020. How to weigh these various factors is far from clear.

Another problem with Fed policy is the rapid change in its interest rate targets. Three years ago, the short-run interest rate was ~.5 percent. Within two years it was over 5 percent. That rapid change created many issues in the economy, only some of which we have recognized. The rate-hike cycle created significant turmoil in the banking industry with Silicon Valley Bank and Signature Bank failing entirely while many large regional banks shrank or were enfolded into larger national banks.

The commercial real estate market has also been upended. While the owners of office buildings were already facing strong headwinds from the pandemic’s normalization of remote work, the Fed delivered a one-two punch when it raised interest rates. Most large commercial real estate investors use variable rate debt to finance their portfolios – which means the interest rate they pay moves with the market. Adding a couple percentage points to one’s debt rapidly changes the viability of a venture. In addition to higher debt-servicing costs, commercial real estate investors saw the market value of their holdings decline precipitously as buyers disappeared, financing costs rose, and future potential cash flows were more heavily discounted.

The previous rate-hike cycle in 2006 and 2007 preceded a major recession and financial crisis. Even as the Fed creates disruptions in markets, it has also overseen the relentless decline in the value of the dollar – ironically in the name of pursuing their mandate to maintain price stability. A dollar in 2024 is worth what a quarter was in 1980 and what a dime was in 1965. And a 2024 dollar is worth about what a penny was worth in 1900.

>>22011832

>>22011839

Cont: https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

This downward march in the value of the dollar creates problems. It drives up asset prices, favoring those who have investment savvy while eating away at the value of people’s savings and undermining the prosperity of those on fixed incomes. The steady fall of the dollar also distorts price calculations and expectations.

I’ve argued elsewhere that the Fed has been a prime culprit in boosting housing prices and, as a result, creating a “transitional gains trap” where homeowners with significant equity, juiced in large part by easy money, have organized to protect their equity by putting up local legal barriers to building new housing.

But Good as Gold includes much more than criticism of the Fed. Dr. Shelton points out that unstable money and exchange rates create costs to doing business. International firms must devote time, energy, and money to protect themselves from erratic fluctuations in currency exchange rates. Creating these “hedges” to protect their profitability from exchange-rate risk necessitates additional classes of assets and asset traders – contributing to greater “financialization” of the economy. While the services being offered create real value for corporations, they come at a price and would not be needed under more stable monetary arrangements.

Besides the frictions and costs that unstable money introduces into day-to-day business operations, it also creates long-term consequences when it comes to investing. If certain exchange rates can move 15 percent, 30 percent, or more in a single year, Dr. Shelton asks, then how can investors rationally allocate capital based on real factors and comparative advantage? The structure and mix of capital investment we currently have across countries and within the same country looks very different than it would in a world of stable money.

Dr. Shelton makes this point indirectly in a fascinating chapter about the monetary debate between Milton Friedman and Robert Mundell. Both were staunch advocates of free markets, but they differed in what monetary regime they thought best. Friedman argued in favor of freely floating exchange rates set by market participants. In this world, governments would feel pressure from markets, in the form of capital outflows, if they engaged in domestic monetary policy shenanigans. Mundell, on the other hand, favored more stability in exchange rates that would require domestic prices to adapt to changes in trade and capital flows. Friedman and Mundell both agreed, however, that government officials and central bankers should have very little discretion in how they managed a country’s monetary system.

>>22011832

>>22011839

>>22011843

continued: https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

In a later chapter, Shelton offers the problem of “currency manipulation” as a reason for implementing a sound money regime. Her argument basically asserts that countries that actively depreciate or weaken their domestic currency experience short-run benefits (in the form of more competitive exports) and long-term costs (in the form of inflation and capital outflows). Other countries, however, feel short-run pain as their exports decline and their factories shut down – even though they also receive cheaper goods and reallocate much of the displaced labor and capital. I find this line of reasoning a bit curious.

Shelton rightly champions free trade and argues that it works best when countries do not artificially manipulate the value of their currencies. No objection here. But I am not convinced that a sound money regime, even a gold standard, would change other countries’ incentives to devalue their currency. Gold convertibility of one currency does not prevent the issuer of a different fiat currency from issuing large amounts of that fiat currency to reduce the relative price of its exports.

I suppose one could argue (and Dr. Shelton does) that currency manipulation becomes easier to discern because currencies will be valued in terms of a fixed standard (gold), rather than in terms of another fluctuating fiat currency. For example, the price of gold in terms of dollars increased by 77 percent from May 2014 to May 2024.

The currencies of the largest trade partners with the US lost far more value relative to gold in that period: Euros (129 percent), Mexican Peso (131 percent), Canadian dollar (122 percent), Chinese yuan (105 percent), and Japanese yen (165 percent). But that probably matters relatively little to the devaluing regime. Using gold as a benchmark might reveal relative changes in the value of currencies better. It could also defuse the language of “currency manipulation.”

>>22011832

>>22011839

>>22011843

>>22011848

continued: https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

Instead of attributing motives to foreign central bankers, policy makers could set relatively straight-forward criteria for when another country’s currency declines in a distortive way. Shelton suggests that some level of tariffs should be imposed in response to another country’s currency devaluation to offset the monetary distortion to international trade. This idea may not be crazy from a purely technical standpoint, yet I would hesitate to recommend it because of the likely distortions and co-opting of such policies by special interests. I also question whether the costs of not imposing tariffs on depreciating currencies is as high as Dr. Shelton believes.

Sound money advocates like Shelton must explain how we could get to a sound money regime. On the one hand, advocating a gold standard seems archaic and implausible. On the other hand, it would not be technically difficult to implement. And, in fact, given the dominance of the US dollar, if another major currency, such as the Euro, also chose to move back to gold redeemability, it is not hard to imagine other major currencies (Yen, Yuan, Pound, etc.) following suit. The political difficulty, of course, is getting the US to take the first step and then getting the EU to follow suit.

The odds of successful reform are highest when pursuing the easiest path to transition the current system to a sound monetary regime. Abolishing the Federal Reserve is not on that path. So tying dollars back to gold using the Fed makes more sense than moving back to a pre-Fed world. Similarly, constraining the FOMC seems far more plausible than abolishing it.

It may be worth raising a few other important secondary questions. At what price will the currency be convertible into gold? Dr. Shelton has suggested that incorporating a gold clause in Treasury bonds could be a good method for discovering the right price of convertibility. In fact, putting gold convertibility into government bond contracts may be sufficient, in and of itself, to tie dollars back to gold.

Afterall, depreciation of dollars would create consequences for the federal government and the Federal Reserve, the very institutions primarily responsible for managing the dollar and maintaining the monetary system. Shelton also makes the important point that currency should be seen as being like a weight or measure – something standardized for the public to use. It should not be viewed as a policy instrument or lever for managing the economy. This simple point rarely arises in modern commentary on the Fed and on monetary policy – yet it has deep legal and historical roots in the American founding and beyond.

>>22011832

>>22011839

>>22011843

>>22011848

>>22011854

continued: https://thedailyeconomy.org/article/gold-backed-or-bust-judy-sheltons-plan-to-tame-the-fed-and-restore-the-dollar/

Another benefit of moving to gold redeemability for US bonds is that it utilizes US gold reserves more effectively. Currently, the US is the largest holder of gold in the world. But ironically, that gold is severely undervalued on the government’s ledger. Its book value is less than two percent of its market value (i. e. on the ledger the gold is valued at less than $50/oz when its market value is over $2700/oz). Offering gold redeemability might also open up the option for extremely long-dated debt (50 years or more) and lower interest rates because the most significant risk to lending to the federal government, the devaluation of future dollars, has been taken off the table.

The likely benefits of such bonds are so significant that it may seem surprising that they have not been implemented. The problem, of course, is that this form of bond would reveal the man behind the curtain. It would show that government officials can and do play fast and loose with the dollar and with the US financial system to enable themselves and their friends a free hand to borrow and spend, and to actively “manage” the economy.

Dr. Shelton’s proposed changes will be vigorously resisted by those who benefit from the existing status quo – large commercial banks and financial institutions, Federal Reserve officials and bureaucrats, politicians and regulators – everyone who benefits from the Fed’s tendency to loose monetary policy. Still advocates of freedom and prosperity should continue to make the arguments and offer proposals for moving to a sound monetary regime.

And that is exactly what Dr. Shelton does in Good as Gold.

read book pages here:

https://www.google.com/books/edition/Good_as_Gold/A6EhEQAAQBAJ?hl=en&gbpv=1&pg=PT5&printsec=frontcover

>>22011832

>>22011839

>>22011843

>>22011848

>>22011854

Judy Shelton As Good As Gold book

Trump pick?

https://www.google.com/books/edition/Good_as_Gold/A6EhEQAAQBAJ?hl=en&gbpv=1&pg=PT5&printsec=frontcover

>>22011874

>>22011874

>>22011946

Leviticus 19:35-36 New Century Version (NCV)

“ 'Do not cheat when you measure the length or weight or amount of something. Your weights and balances should weigh correctly, with your weighing baskets the right size and your jars holding the right amount of liquid. I am the LORD your God.

>>22011832

>>22011839

>>22011843

>>22011848

>>22011854

https://www.openbible.info/topics/honest_weight_and_measures

100 Bible Verses about Honest Weight And Measures

Proverbs 11:1 ESV / 33 helpful votes

A false balance is an abomination to the Lord, but a just weight is his delight.

Proverbs 20:10 ESV / 30 helpful votes

Unequal weights and unequal measures are both alike an abomination to the Lord.

Leviticus 19:35 ESV / 27 helpful votes

“You shall do no wrong in judgment, in measures of length or weight or quantity.

Proverbs 16:11 ESV / 25 helpful votes

A just balance and scales are the Lord's; all the weights in the bag are his work.

Proverbs 20:23 ESV / 21 helpful votes

Unequal weights are an abomination to the Lord, and false scales are not good.

Luke 16:10 ESV / 20 helpful votes

“One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much.

Leviticus 19:36 ESV / 20 helpful votes

You shall have just balances, just weights, a just ephah, and a just hin: I am the Lord your God, who brought you out of the land of Egypt.

Deuteronomy 25:15 ESV / 19 helpful votes

A full and fair weight you shall have, a full and fair measure you shall have, that your days may be long in the land that the Lord your God is giving you.

James 5:4 ESV / 18 helpful votes

Behold, the wages of the laborers who mowed your fields, which you kept back by fraud, are crying out against you, and the cries of the harvesters have reached the ears of the Lord of hosts.

Deuteronomy 25:13-16 ESV / 16 helpful votes

“You shall not have in your bag two kinds of weights, a large and a small. You shall not have in your house two kinds of measures, a large and a small. A full and fair weight you shall have, a full and fair measure you shall have, that your days may be long in the land that the Lord your God is giving you. For all who do such things, all who act dishonestly, are an abomination to the Lord your God.

Deuteronomy 25:13 ESV / 14 helpful votes

“You shall not have in your bag two kinds of weights, a large and a small.

Ezekiel 45:10 ESV / 13 helpful votes

“You shall have just balances, a just ephah, and a just bath.

Proverbs 16:8 ESV / 13 helpful votes

Better is a little with righteousness than great revenues with injustice.

Proverbs 11:3 ESV / 13 helpful votes

The integrity of the upright guides them, but the crookedness of the treacherous destroys them.

Exodus 20:15 ESV / 12 helpful votes

“You shall not steal.

1 John 1:8 ESV / 11 helpful votes

If we say we have no sin, we deceive ourselves, and the truth is not in us.

Philippians 4:8-9 ESV / 11 helpful votes Helpful Not Helpful

Finally, brothers, whatever is true, whatever is honorable, whatever is just, whatever is pure, whatever is lovely, whatever is commendable, if there is any excellence, if there is anything worthy of praise, think about these things. What you have learned and received and heard and seen in me—practice these things, and the God of peace will be with you.

Matthew 7:12 ESV / 11 helpful votes

“So whatever you wish that others would do to you, do also to them, for this is the Law and the Prophets.

Micah 6:11 ESV / 11 helpful votes

Shall I acquit the man with wicked scales and with a bag of deceitful weights?

Proverbs 16:28 ESV / 7 helpful votes Helpful Not Helpful

A dishonest man spreads strife, and a whisperer separates close friends.

Colossians 3:23 ESV / 6 helpful votes

Whatever you do, work heartily, as for the Lord and not for men,

1 Corinthians 6:10 ESV / 6 helpful votes

Nor thieves, nor the greedy, nor drunkards, nor revilers, nor swindlers will inherit the kingdom of God.

Romans 13:1 ESV / 6 helpful votes Helpful Not Helpful

Let every person be subject to the governing authorities. For there is no authority except from God, and those that exist have been instituted by God.

>>22011973

total liberal female retards who will abort their own children like a Walmart tv gets demolished

on a whim

>>22011973

>>22011981

>total liberal female retards who will abort their own children like a Walmart tv gets demolished on a whim

their dialogue could easily be about a baby being aborted / smashed to death

I can totally see and here it in their voices

should meme it and make sure to tag all of their followers and parents

>>22012004

*hear not here

>I can totally see and here it in their voices

>>22011973

>>22011981

i feel bad for the cat that is forced to live there

>>22011973

>>22011986 hope they get the Trump tariff pricing on the replacement

>>22011973

rudy in there?

is he gonna get his watches back kek

>>22012021

>>22011867 excellent

>TangoRomeoUniformMikePapa WhiskeyOscarNovember

hahaha

very good

>>22012044

>>22012043

would be great if AZ kari turns out to be a watch the water

>>22012072

>>22012029

imagine if all their money get siezed

crimes against humaniyt EO

why are alex baldwins pants unzipped with dana carvey and both grinning

>>22012063

>>22012063

>>22012108

and does carvey have a chub habbening

fuckin weirdos

>>22012063 alex coke nose?

when the women see these memes i wonder if it ever hits them how insane and brainwashed they look

do any of them really see it with their own eyes and say holy fuck, i must be wrong

>>22012138

>>22011832

that voice only works with pam anderson

>>22011765

>>22011839

>>22011843

>>22011848

>>22011854

Judy Shelton As Good As Gold book

Trump pick?

https://www.google.com/books/edition/Good_as_Gold/A6EhEQAAQBAJ?hl=en&gbpv=1&pg=PT5&printsec=frontcover

>>22011874

>>22011915

>>22011765

2025

SOON

save the number

Hotline | Office of Inspector General - DHS OIG

DHS OIG (.gov)

https://www.oig.dhs.gov › hotline

To report employers hiring undocumented immigrants, please call the U.S. Immigration and Customs Enforcement

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The DHS OIG hotline is NOT an emergency services network. While complaints can be submitted to the DHS OIG hotline at any time, the hotline is not actively monitored 24 hours per day and complaints are generally processed in the order they are received. As such, if there is an immediate threat to life or safety, call 911. Do not use our hotline to report emergencies.

The DHS OIG hotline should not be used to report allegations that are unrelated to DHS or allegations that would be more appropriately addressed by entities other than DHS OIG. Direct links to specific offices for reporting some common issues are as follows:

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Submitting repeated complaints to DHS OIG regarding the same matter will not result in faster or additional action. Additionally, the DHS OIG hotline should not be used to submit links to news stories or complaints based solely on information derived from the news media.

How can I report an allegation?

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Hot Links

Reporting FEMA Fraud

If you have knowledge of employee corruption, fraud, waste, abuse or allegation of mismanagement involving FEMA disaster relief operations, please report it to the DHS OIG Hotline. You can file a report online by accessing the DHS OIG Online Allegation Form. Automated filing of the DHS OIG Online Allegation form will ensure that your allegation is expeditiously received by the OIG.

If you wish to receive an electronic “Complaint Number Notification” alert message via email, you must provide a point of contact email address. Failure to provide a point of contact email address precludes the OIG from notifying you of the assignment of a Complaint Number to your allegation.

Your allegation will be reviewed and processed in the order it was received. Assignment of a Complaint Number, and notification of such assignment, is not an indication your complaint will be investigated by the DHS OIG or any other applicable investigative body.

If you cannot use the DHS OIG Online Allegation Form, please file your allegation by:

U.S. Mail:

DHS Office of Inspector General/MAIL STOP 0305

Attention: Hotline

245 Murray Lane SW

Washington, DC 20528-0305

Phone: 1-800-323-8603

>>22012206

TRUMP IS WRECKING BALL

>>22012206

>>22012228

>>22012228

>>22012206

>>22012236

Trump's 2024 Comeback Anthem - 'Wrecking Ball' Parody | Satirical Song Trump's Reelection Policies

Corieosity Creations

428,372 views Nov 12, 2024

They tried to stop him with lawsuits, but he's back "like a wrecking ball." With the budget cuts, rising tariffs, and controversial policies, no one is safe from Trump's satirical "wrecking ball" of change. This parody covers topics like Elon Musk cutting costs, FDA and CDC overhauls, and a stance against woke culture.

In this satirical twist on Miley Cyrus's hit "Wrecking Ball," we explore Donald Trump's 2024 reelection campaign and the dramatic changes he brings. From building the wall to reshaping government agencies, this parody song dives into the wild scenarios of Trump’s comeback with a catchy and humorous approach. Whether you're here for the laughs or curious about what Trump's next term could look like, this song has something for everyone.

>>22012242

>>22012236

>>22012228

>>22012242

>>22012255

>>22012206

>>22012255

good vid BUT man the AI trump images are horrible, like the worst, they are an abomination

magaic meme juice kek >>22012308

>>22012296 ummmmm they read the board

all pb

#21800362 at 2024-10-20 17:59:43 (UTC+1)

Q Research General #26693: Get Yo Alien On Edition

MAKE BEEF Tallow FRIES GREAT AGAIN!

#20910545 at 2024-05-24 22:42:24 (UTC+1)

Q Research General #25646: Glidepath Edition

>>20910511

The USA once enjoyed cheap fries cooked in beef Tallow and inexpensive beef burgers. NGOs and the media took that away.

8chan/8kun QResearch Posts (7)

#21994528 at 2024-11-16 03:14:03 (UTC+1)

Q Research General #26932: Shadow Government Edition

Yes. >>21994395

So good for you.

And McDonalds should bring back real old formula real french fries fried in BEEF tallow.

Beef tallow fries and real sea salt.

Would be a MAGA hit.

Maga size please.

>>21994395

>>22012296

>>22012368

>u mmmmm they read the board

#21807218 at 2024-10-21 22:55:47 (UTC+1)

Q Research General #26702: 5th Column Ending :Mirror: November 5th Beginning Edition

>>22012296 ummmmm they read the boar

pb

>>21807133

beef tallow fries are the best fries.

#21801461 at 2024-10-20 21:37:11 (UTC+1)

Q Research General #26694: Yo Supersize Muh MAGA Freedom Fries Edition

>>21801356

I feel bad for young people who never got to taste beef tallow fries - hell, we would buy just fries and never order burgers (we'd get burgers grilled at Burger King although now they're gross). I did read that some larger cities have places that use beef tallow for their frying, but not fast food chains.

#21800839 at 2024-10-20 19:27:05 (UTC+1)

Q Research General #26693: Get Yo Alien On Edition

>>21800823

McD used to fry their fries in tallow

finally switched to veg oils when pressure from comp'd American Heart Association and public pressure forced it

when they did a taste test recently, 100% of customers preferred tallow fries

#21800540 at 2024-10-20 18:29:28 (UTC+1)

Q Research General #26693: Get Yo Alien On Edition

>>21800533

Mmmm… tallow fries.

#21800362 at 2024-10-20 17:59:43 (UTC+1)

Q Research General #26693: Get Yo Alien On Edition

MAKE BEEF tallow fries GREAT AGAIN!

>>21800355

>seriously, McDonald's used to use beef tallow which is far healthier than seed oils for their fries, and they tasted amazing

>>21800356

#20910545 at 2024-05-24 22:42:24 (UTC+1)

Q Research General #25646: Glidepath Edition

>>20910511

The USA once enjoyed cheap fries cooked in beef Tallow and inexpensive beef burgers. NGOs and the media took that away.