From Jefferson’s early warnings to Roosevelt’s Bretton Woods and Nixon’s Camp David ‘Shock,’ Shelton’s Fixing the Dollar Now is rooted in the “need-to-know” historical foundations of today’s dollar crisis. Drawing on the hard-learned lessons of the late-18th century, she first makes clear, “There can be no question that our nation’s Founders deliberately sought to ensure that the new government…would never be able to indulge in the same monetary fraud that had brought ruin and cynicism to the individual states.”
And yet, Shelton argues the story of sound money in America has been an incremental slide away from these foundations in the name of political expediency. “[W]e need to end the practice of having our “elastic” currency serve as the default mechanism for government fiscal irresponsibility,” she writes.
Easier said than done? Shelton offers five complementary approaches weighed carefully and tailored for today’s window of political possibility. Ranging from a reexamination of the Federal Reserve’s dual mandate to a responsible return to gold convertibility, Shelton’s solutions represent a bold yet well-reasoned challenge to today’s leaders in Washington.
Judy Shelton is an economist with expertise in global finance and monetary issues. She is co-Director of the Sound Money Project at the Atlas Economic Research Foundation. Author of The Coming Soviet Crash (1989), Money Meltdown (1994) and Fixing the Dollar Now (2011), her international economics articles have been published by The Wall Street Journal, New York Times, Washington Post, Financial Times, Nihon Keizai Shimbun and El Economista. Dr. Shelton holds a Ph.D. in business administration from the University of Utah.
“Dr. Shelton offers here a much-needed education on the historical roots of sound money in America and, in so doing, secures the foundation for real world solutions tailored to the problems our nation faces now. Members of Congress, take note!”
-Larry Kudlow, Host of CNBC’s “The Kudlow Report”
“At once bold and practical, sophisticated and straightforward, this concise study is a must-read for all would-be reformers of our broken monetary system. And in showing us how to fix the dollar, Judy Shelton points the way to deeper principles of reform for our troubled polity and economy.”
-William Kristol, Editor of The Weekly Standard
“In this concise, elegant and irrefutably argued book, Judy Shelton shows exactly how to make the dollar sound again. May the next president of the United States, along with the next secretary of the Treasury, read every word.”
-James Grant, Editor of Grant’s Interest Rate Observer
“America’s economy is near collapse in large part because of Washington’s failure to support sound monetary policy. Fixing the Dollar Now is a proven prescription for restoring American prosperity.”
-Jim DeMint, U.S. Senator, South Carolina
Special thanks to the Searle Freedom Trust for financing this book.