Money Meltdown by Judy Shelton (PDF)

Description

Despite worldwide rhetoric about free trade and the global economy, the leading economic powers have done little to address the most insidious form of protectionism—the inherently unstable international monetary system. In outlining steps toward a new world monetary structure, Judy Shelton elevates the needs of individual producers—who actually create wealth in the global economy—over the programmes of governments.

User’s Reviews

Editorial Reviews: About the Author Judy Lynn Shelton is an American economic advisor to former President Donald Trump. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve.

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐First, the only reason I did not give this 5 stars is because I think the book could have been more concise. I don’t fault Ms Shelton for this as much as I do her editor.That said, her points are well made. She starts off with the “Legacy of Bretton Woods”. Then discusses (at length) both what conditions were like in many of the countries at the time as well as what went wrong and why Nixon finally removed this country from the modified gold standard of Bretton Woods (by the way, Paul Volker was heavily involved with this decision according to Shelton.) I for one appreciated the well documented, scholarly history lesson.The 4th chapter titled “Theory vs Reality” discusses 4 currency theories: dirty float, pegged rates, hard currency and private currency. She discusses strengths and weaknesses of all the systems.The book concludes with recommendations. She covers both what she thinks is the best monetary system and how to implement it. I won’t tell you what she suggests. But I’ll say this – the book was last updated in 1998, and given what has happened (I’m writing this in Nov. 2008) since that time, it’s too bad the powers that be, didn’t listen to this lady.

⭐I lived this journey and can remember the effects on my lifetime. The inflation, recessions and general repercussions.

⭐The book helps greatly to understand the causes of inflation

⭐This book covered a lot of ups and downs in global economics, plus many individual countries, this took up about half the book, it was a good insight, the other half informed us about how a classical gold standard might be reintroduced.

⭐An insightful view of global monetary economics that seems even more relevant now than when written. It is that, all the more, given the author’s apparent influence in the new US administration (if not yet a formal role, beyond the Transition Team).

⭐Don’t buy this book. She has some antiquated idea about returning to the gold standard and no government regulation (so we can eventually have another 2008 housing crash). She deserves a show of nut job Fox News with her delirious ideas.

⭐If you want to read some faulty logic trying to convince you that the U.S. should return to a gold standard, this is the book for you! The author is a political stooge who doesn’t understand the monetary system and doesn’t understand that money derives its value from our collective agreement that it can be used to trade for goods or services. The book is also hopelessly outdated now that cryptocurrency provides an alternative that is rooted in concepts such as computation and “proof of work” rather than “gold bars in Fort Knox”.Don’t waste your time; take a free online course from NYU on monetary policy or pick up any one of many other good texts on the monetary system instead.Or better yet: pick up a recording of the fine 1956 American opera “The Ballad of Baby Doe” and listen to the “Silver Aria (Gold is a Fine Thing)” and reminisce about the good old days of debates about whether we should use a silver standard or a gold standard. The music still has value, even if the Gold (or even Silver) standard idea that Shelton is pushing in this book isn’t relevant anymore in the modern age.

⭐I saw this woman on CNBC in 2021. What a bunch of baloney came out of her mouth. Hasn’t learned much since writing this book. No command of facts. Said we almost got to balancing the budget by 1994. Duh! Not only was it balanced but the Bush-Cheney administration were desperate to increase it again. Everything else was a cliché.

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