Do we trust with money? Former Trump Economic Advisor recommends resetting the US dollar
Judy Shelton, a senior fellow at an independent laboratory and author of “Good As Gold,” talks with Fox News Digital about the “reliable” US dollars, Gold Futures and President Donald Trump’s economic plans.
Market uncertainty doesn’t phase out Judy Shelton, the former Treasury lead advisor for the first Trump administration.
Financial economists are bullish on rising prices of “trusted” US dollars and gold, offering a unique pitch to ensure financial stability.
“When people doubt the future of US currency as the world’s dominant reserve currency, I’m skeptical. I think the dollar has a big future ahead of that.”
“I think we need to stay true to the principles of establishment and double our efforts to restore sound finances and healthy money,” she continued.
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The “very smart” for the American economy is the Treasury’s 50-year gold convertible security. Shelton hopes it will take place on July 4, 2026 on the 250th anniversary of the signing of the Declaration of Independence.
Economist Judy Shelton argues Trump’s economy will build a “trustworthy” US dollar. (Getty Images)
She points out that America is the world’s largest owner of official gold reserves, with the Treasury holding 261 million ounces and having a book value of $42. As of Thursday afternoon, gold futures were around $3,300.
The US dollar retained strength against other major currencies like the yen and Swiss franc after it announced that prices would not change on Wednesday.
“It’s a good way to ensure you’ve ever won bright ideas for selling these gold plating. Sell these gold reserves. Use them in your warehouse and serve as collateral for this long-term gold bond,” explained Shelton.
“And the gold bond will be a barometer of whether the US can balance its budget and make progress towards achieving sound money under the White House, under Congress, under the people of the Federal Reserve.”
Judy Shelton, a senior fellow at the Independent Institute, discusses the state of the US economy and the importance of the “gold standard” for “making money.”
Having received the idea from the current Trump administration and “some positive feedback” from other business leaders like Fox Business’ Larry Kudlow and Steve Forbes, Shelton has expanded the debate on the “solid” dollar under the 47th president.
“If the dollar is strong, it will be very difficult for exports to compete in foreign markets,” the economist pointed out. “And the cost of imported goods will look cheaper compared to domestically produced goods. So, because we apply tariffs, we think we automatically see trading partners trying to manipulate the currency.”
“Their currencies are weaker. It means the dollar is strong. It also means that if people prefer domestically produced goods over foreign goods, then their imports are relatively expensive, and therefore there is less demand for other currencies.”
“I think the economy is ready, willing and can do something to make a difference.”
“There is really no substitute for the US dollar as a global reserve currency, so I hope that in the future the dollar will be strengthened, rather than weakening.”
Shelton stated that he was responsible for the dollar’s uncertainty regarding the Federal Reserve because “people realize that the Federal Reserve is not omniscient.”
Judy Shelton, a senior fellow at the Independent Institute, responds to President Trump’s criticism of Powell’s term in the “Craman Countdown.”
“The Fed is not being delivered…and I think the Fed is operating with the false trade-off between growth and inflation. That’s not a trade-off,” she criticized. “What you need is to have a yield curve that makes sense, not the inverse yield curve under the Federal Reserve. You need a positive rate of return.”
“It’s true that the Fed is imposing a borrowing limit rate. I don’t think that’s the way forward. I don’t think the Fed should determine the cost of capital as if it were an old Soviet gothbank, a state bank, or a state bank.
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Judy Shelton, a senior fellow at the Independent Institute, discusses whether the Federal Reserve is confident in its own economic data on “making money.”
Using a word to describe today’s economic situation, the economist argued that he was “prepared” for the full impact of President Donald Trump’s supply-side growth agenda.
“I think the economy is ready, willing to be able to make a difference, and I think that change is an economy that President Trump thinks is increasingly changing towards government control and government raising, and will be driven by private sector initiatives,” she said.
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