Trump’s Fed Nominee Advocates a Gold-Backed Currency, Even a Crypto One

President Donald Trump’s nominee for the United States Federal Reserve board of governors is reiterating her advocacy for the gold standard — and adding digital currency into the mix.

In an interview on Sunday, Judy Shelton told reporters:

“I don’t see it so much as returning [to the gold standard], more like ‘back to the future.’ I think that what a gold standard stands for is monetary discipline for its own sake. Money is supposed to be a unit of account, a reliable measure and a dependable store of value. It really shouldn’t be subject to who’s the chairman of the Federal Reserve.” 

According to Shelton, a “futuristic” vision of the gold standard may involve a digital currency component. She said that central banks are “not serving the private sector in providing that reliable unit of account […] under the gold standard, you did have that stability, and i think that’s what’s missing […] it could be used in a very ‘cryptocurrency…