Wednesday, July 3, 2019

Trump finds his perfect Fed candidate as he nominates gold standard and zirp enthusiast Judy Shelton to the Board of Governors

On July 2, President Donald Trump finally played his long-awaiting 'Trump Card' as he officially nominated Judy Shelton to fill a vacancy on the Central Bank's Board of Governors.


I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels. - zerohedge

Not ironically, gold prices shot up to new 6 year highs on this news which came about an hour after the markets had closed.


However being a staunch advocate of a gold standard is not the only attribute that the President likes in Dr. Shelton as she is also a big believer in taking interest rates back down to zero.
In May, Shelton told the New York Times that Fed’s practice of paying interest on excess money that banks keep at the Fed was "like paying the banks to do nothing." She said it discourages lending of money and that she favors reducing interest rates to zero - something Trump has also criticized the bank for failing to do. – Sputnik News
In the end Dr. Shelton's perspective appears to fit perfectly into what Donald Trump wants for the financial system... destruction of the dollar and central bank system followed by the opportunity once it has collapsed to return to a system of gold backed money.

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