The Morgan Report, Released on 11/15/24

The interview features an engaging conversation between David Morgan and Dr. Judy Shelton, author of Good as Gold: How to Unleash the Power of Sound Money., as they discuss the principles and challenges surrounding sound money, monetary policy, and economic systems.

Dr. Shelton highlights the moral foundation of sound money, emphasizing the ethical necessity of honest measures in trade, which she connects to biblical principles advocating fairness and trust.

A significant part of the discussion revolves around the gold standard and bimetallism. Dr. Shelton reflects on the historical success of using both gold and silver as currency standards and proposes pragmatic steps to reintroduce gold-backed instruments, such as Treasury bonds, to rebuild confidence in monetary systems. She emphasizes that while returning to a full gold standard may not be feasible, innovative measures could capture its benefits in a modern context.

Inflation is another focal point of the interview, with Dr. Shelton critiquing the Federal Reserve’s 2% inflation target as a subtle form of wealth erosion. She argues for the advantages of zero inflation, which would protect purchasing power and encourage savings and investment without the need for complex financial instruments.

The conversation expands to examine the role of the Federal Reserve and the increasing financialization of the economy. Both Shelton and Morgan express concerns about speculative financial practices, such as derivatives trading, which prioritize short-term gains over contributions to the real economy. They advocate for a return to community banking models that prioritize local economies, small businesses, and personal relationships over profit-driven motives.

Dr. Shelton also addresses the rise of cryptocurrencies and decentralized finance, which she views as a response to public dissatisfaction with centralized monetary policies. These alternatives represent a push for financial independence, privacy, and a reclamation of trust in monetary systems.

Looking toward the future, they discuss the risks of economic instability, including potential liquidity crises, stemming from unsustainable debt levels and eroded trust in the financial system. Dr. Shelton underscores the need for reform, calling for monetary policies that prioritize fairness, stability, and the long-term interests of individuals and the economy.

Judy Shelton is an American economist known for her advocacy of the gold standard and her criticism of the Federal Reserve. She is a former economic advisor to President Trump and has held prominent roles in both the public and private sectors. Her latest book is Good as Gold: How to Unleash the Power of Sound Money.

David Morgan is a world-renown precious metals aficionado. He is the creator of TheMorganReport.com, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand speaker all over the globe, David’s educational mission also makes him a prolific author, having penned Get the Skinny on Silver Investing, The Silver Manifesto and, most recently, Second Chance: How to Make and Keep Big Money from the Coming Gold and Silver Shock.

  federal reserve, gold, gold standard, judy shelton, sound money