Why the media Hates Judy Shelton (Trump's nominee for Federal Reserve Board)
Posted by freedomforall 3 years, 9 months ago to Philosophy
"Imagine if a member of the Federal Reserve Board of Governors said the following:
When governments manipulate exchange rates to affect currency markets, they undermine the honest efforts of countries that wish to compete fairly in the global marketplace. Supply and demand are distorted by artificial prices conveyed through contrived exchange rates.
Or something honest like:
The Fed should focus on stable money as a key factor in economic performance. Given that central banks today are the world’s biggest currency manipulators, it’s imperative that the next chairman prioritize the integrity of the dollar.
And what if they showed an understanding of both history and sound money principles with something intelligent:
For all the talk of a “rules-based” system for international trade, there are no rules when it comes to ensuring a level monetary playing field. The classical gold standard established an international benchmark for currency values, consistent with free-trade principles."
When governments manipulate exchange rates to affect currency markets, they undermine the honest efforts of countries that wish to compete fairly in the global marketplace. Supply and demand are distorted by artificial prices conveyed through contrived exchange rates.
Or something honest like:
The Fed should focus on stable money as a key factor in economic performance. Given that central banks today are the world’s biggest currency manipulators, it’s imperative that the next chairman prioritize the integrity of the dollar.
And what if they showed an understanding of both history and sound money principles with something intelligent:
For all the talk of a “rules-based” system for international trade, there are no rules when it comes to ensuring a level monetary playing field. The classical gold standard established an international benchmark for currency values, consistent with free-trade principles."
Of course, economist don't like her...they were fed Keynes...that's what they tried to shove down my throat back in college...I didn't bite, saying...it seems backward. Did have one professor that brought up Mises...but by that time I already decided what I was going to do with the few bits of value I learned, (Economies of Scale), never intended to be an economist anyway.
Hope she gets in...
The Coming Soviet Crash: Gorbachev's Desperate Pursuit of Credit in Western Financial Markets
Judy Shelton
Free Press, 1989 - History - 246 pages
A very cynical examination of the Soviet economy by a research fellow at the Hoover Institution who suggests that glasnost is a con and perestroika a ruse to obtain Western credits that will be invested in an enhanced Soviet military and place Western security at risk.