Post #63 You Can’t Just Print More Gold
Against this backdrop of anything-goes spending, the idea of having a national currency backed by a real asset like gold seems less and less crazy to some.
Judy Shelton, President Donald Trump’s nominee to the Federal Reserve Board of Governors, has long favored a return to a gold standard, which officially ended in 1971. In an interview with Investment News Network (INN) last week, Shelton said she liked “the idea of a gold-backed currency,” adding that “it could even be done in a cryptocurrency sort of way.”
Other financial experts and money managers are similarly making the case for gold and other hard assets as helicopter money floods the economy.
“This is a perfect environment for gold to take center stage,” wrote Paul Singer, billionaire hedge fund manager, in a memo to Elliott Management clients.