Dr. Judy Shelton on Sound Money: A Moral and Economic Imperative

Published: Sat, 11/16/24

Updated: Wed, 11/20/24

Dr. Judy Shelton on Sound Money: A Moral and Economic Imperative

The interview features an engaging conversation between David Morgan and Dr. Judy Shelton, author of Good as Gold, as they discuss the principles and challenges surrounding sound money, monetary policy, and economic systems. Dr. Shelton highlights the moral foundation of sound money, emphasizing the ethical necessity of honest measures in trade, which she connects to biblical principles advocating fairness and trust.

A significant part of the discussion revolves around the gold standard and bimetallism. Dr. Shelton reflects on the historical success of using both gold and silver as currency standards and proposes pragmatic steps to reintroduce gold-backed instruments, such as Treasury bonds, to rebuild confidence in monetary systems. She emphasizes that while returning to a full gold standard may not be feasible, innovative measures could capture its benefits in a modern context.

Inflation is another focal point of the interview, with Dr. Shelton critiquing the Federal Reserve’s 2% inflation target as a subtle form of wealth erosion. She argues for the advantages of zero inflation, which would protect purchasing power and encourage savings and investment without the need for complex financial instruments.

The conversation expands to examine the role of the Federal Reserve and the increasing financialization of the economy. Both Shelton and Morgan express concerns about speculative financial practices, such as derivatives trading, which prioritize short-term gains over contributions to the real economy. They advocate for a return to community banking models that prioritize local economies, small businesses, and personal relationships over profit-driven motives.

Dr. Shelton also addresses the rise of cryptocurrencies and decentralized finance, which she views as a response to public dissatisfaction with centralized monetary policies. These alternatives represent a push for financial independence, privacy, and a reclamation of trust in monetary systems.

Looking toward the future, they discuss the risks of economic instability, including potential liquidity crises, stemming from unsustainable debt levels and eroded trust in the financial system. Dr. Shelton underscores the need for reform, calling for monetary policies that prioritize fairness, stability, and the long-term interests of individuals and the economy.

Information contained herein has been obtained from sources believed to be reliable, but there is no guarantee as to completeness or accuracy. Because individual investment objectives vary, this Summary should not be construed as advice to meet the particular needs of the reader. Any opinions expressed herein are statements of our judgment as of this date and are subject to change without notice. Any action taken as a result of reading this independent market research is solely the responsibility of the reader.

The Morgan Report is not and does not profess to be a professional investment advisor, and strongly encourages all readers to consult with their own personal financial advisors, attorneys, and accountants before making any investment decision. The Morgan Report and/or independent consultants or members of their families may have a position in the securities mentioned. Mr. Morgan does consult on a paid basis both with private investors and various companies. Investing and speculation are inherently risky and should not be undertaken without professional advice. By your act of reading this independent market research letter, you fully and explicitly agree that The Morgan Report will not be held liable or responsible for any decisions you make regarding any information discussed herein.

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