Judy Shelton, a former T------------------n Federal Reserve nominee and author of Good as Gold, is once again at the forefront of economic policy discussions, advocating for significant reforms to the Federal Reserve and exploring the viability of gold-backed U.S. Treasury bonds. Her recent interview with Jeremy Szafron on Kitco News revealed “constructive” conversations with T------------------n officials regarding long-term, gold-redeemable debt, potentially ahead of America’s 250th anniversary.
Shelton’s commentary comes amidst rising calls for a comprehensive audit of the Federal Reserve, a movement she strongly supports. A central point of her critique revolves around the staggering $200 billion in interest payments made by the Fed to banks and foreign institutions. Shelton didn’t mince words, describing the Fed’s current interest-on-reserves framework as “perverse,” arguing that it distorts economic incentives and benefits specific entities at the public’s expense.
Beyond the interest payouts, Shelton outlined several other critical issues demanding urgent reform, including the Fed’s mounting balance sheet losses and concerns about what she perceives as “constitutional overreach” by the central bank. She highlighted a growing momentum behind a structural audit bill in Congress, indicating a broader legislative appetite for increased transparency and accountability from the Federal Reserve.
Perhaps the most intriguing topic discussed was the increasing push for gold-backed U.S. Treasury bonds. Shelton confirmed ongoing, positive dialogue with T------------------n officials on this concept. The idea floated is to introduce long-term debt instruments that are redeemable in gold, a move that could fundamentally alter the perception and stability of U.S. sovereign debt, especially as the nation approaches its quarter-millennium mark. The conversation touched upon the practicalities of how such a system could be implemented and the key proponents behind this significant shift.
The interview also touched on Shelton’s personal future, specifically whether she would consider accepting the role of Fed Chair in 2026, underscoring her continued relevance and influence in these high-stakes economic debates.
Shelton’s insights in the Kitco News interview provide a compelling argument for a fundamental re-evaluation of the Federal Reserve’s operations and a potential return to a form of commodity-backed currency, issues set to remain central to economic discourse in the coming years.
For a deeper dive into these critical discussions and Shelton’s full perspective, watch the complete video interview from Kitco News.
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