The Federal Reserve vs. Judy Shelton And Gold

Gold last traded at $1,966 an ounce. Silver at $27.92 an ounce.

NEWS SUMMARY: Precious metal prices rose Tuesday on safe-haven buying and a weaker dollar. U.S. stocks rose slightly as traders hoped momentum would continue following a strong advance in August.

 Williams/FX Empire---"Those in favor of Judy Shelton's approval by Congress, pursuant to her nomination to the Federal Reserve Board Of Governors, should not be surprised by the torrent of criticism directed at her. A letter published and signed by former Federal Reserve officials and staffers called on the Senate to reject her nomination, stating that 'Ms. Shelton's views are so extreme and ill-considered as to be an unnecessary distraction from the tasks at hand...' Her 'extreme' views were referred to in a general statement of condemnation...'She has advocated for a return to the gold standard; she has questioned the need for federal deposit insurance; she has even questioned the need for a central bank at all.' Would these specific views have been considered extreme a century ago? No. Are they extreme now? No. Then why all the fuss? The statement by former Fed officials has been published openly and is prompted out of fear. Fear of discovery and exposure; and fear of a possible end to the biggest Ponzi scheme of all time....Probably the most blatant condemnation of Judy Shelton comes in an article by Steven Rattner, titled 'God Help Us If Judy Shelton Joins The Fed'. For some people, it might make more sense to say 'God Help Us If Judy Shelton's Nomination Is Not Confirmed'....The truth is that the Federal Reserve has been mismanaging the economy for over one hundred years. The effects of their infinite money creation have destroyed the value of the US dollar which is now worth only $.01 cent compared to $1.00 when the Fed assumed command....Under a gold standard, accompanied by convertibility, gold acts as a restraint on a free-spending government. As it appears now, Judy Shelton brings a refreshingly different perspective to central banking; and offers the potential for positive change - from the inside."