Are Gold Backed Treasuries In Our Future?

Posted by freedomforall 3 weeks, 5 days ago to Economics
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Excerpt:
"the feasibility of a new gold standard, as is attested by the latest title from former Trump administration economic adviser and longtime sound money advocate Judy Shelton—Good as Gold: How to Unleash the Power of Sound Money—currently a best-seller on Amazon.

Shelton, speaking on the phone from Paris, on her way back from a recent New Delhi gathering of the Mont Pelerin Society—the free-market economics conference founded by Friedrich Hayek and Milton Friedman—remains surprisingly upbeat about the precious metal’s monetary prospects despite the myriad of setbacks over the past fifty years.

“We have the gold,” she says, pointing to the US government’s reported holdings of 261.5 million ounces—more than any other nation. “Why not utilize it?”

An inveterate sound money champion, Shelton argues that the present moment is especially propitious, especially on the international level. The fact that gold-buying by central banks has reached a near-frenzy “testifies to good prospects for the serious consideration of a new proposal,” she says.

And she has one, of course: a well-articulated plan to reaffirm gold convertibility for the average American for the first time since the days of the Classical Gold Standard (1815-1914); albeit beginning exclusively through the ownership of gold-linked US Treasury bonds. "
SOURCE URL: https://mises.org/mises-wire/gold-back-and-so-judy-shelton


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