Dr. Judy Shelton has been an adviser to the Trump team on economic matters and some even suggest she should get appointed to the Board of Governors at the US Fed. In this interview with the Wall Street Journal, she says to have truly fair free trade, you need sound money. She has also spoken favorably about the gold standard.
---------------------------------------------------------------------------------------------------Here is a link to her Wall Street Journal article that they mention in the video above on this issue and below are a couple of excerpts.
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"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. Businesses fail as legitimately earned profits become currency losses."
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"Mr. Trump is taking the right first step to address this issue by questioning why there aren’t adequate rules in place to keep countries from manipulating their exchange rates.
The next step is to establish a universal set of rules based on monetary sovereignty and discipline that would allow nations to voluntarily participate in a trade agreement that did not permit them to undermine true competition by manipulating exchange rates."
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Click here to read the full article
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Added news notes: Secretary of Treasury tells IMF to "provide frank analysis" of currency exchange rates of its member nations. Also, I saw a link to a very interesting new article on Bloomberg on Dr. Shelton's twitter feed which I will feature here.
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