“I want the United States to be the leader if there’s any kind of gold backing to a currency.” – Judy Shelton
In our conversation, we explore a series of compelling topics, highlighted by Judy’s riveting career stories, including her interactions with figures like Alan Greenspan, Paul Volcker, and other influential central bankers.
One of the most powerful revelations she shared was Paul Volcker’s frank admission: he had always believed the United States would eventually return to the Bretton Woods system.
For those unfamiliar, Volcker was referencing the pivotal moment known as the Nixon Shock in 1971, when President Nixon abruptly suspended the U.S. dollar’s convertibility into gold, shattering the foundation of the Bretton Woods system.
At that historic moment in history, Volcker served as the Under Secretary of the Treasury for International Monetary Affairs. This marked the transition to a pure fiat monetary system.
I hope you all enjoy this conversation.