Trump Appoints Cryptocurrency Supporter at US Fed

Economist Judy Shelton is preparing to join the Federal Reserve Board.Its purpose is directlyPresident Trump has caused quite a stir because Judy Shelton is a staunch supporter of a "crypto-style" return to the gold standard.

"I like the idea of a gold-backed currency, it can be implemented in the form of a cryptocurrency", - she said last year.

«I like the idea of a gold backed currency, it could even be done in a Cryptocurrency sort of way»

«A unified money system, so when you talk about the international marketplace, everyone is playing on a level monetary playing field»

— Judy Shelton

pic.twitter.com/ykWQ5D9TPb

- Gold Telegraph ✪ (@GoldTelegraph_) May 20, 2020

Controversy over Judy Shelton's appointmentdue to the fact that she is considered a person with extremist ideas. During one of the hearings, Shelton even had to withdraw some of her controversial statements, which only increased criticism from representatives of the Republican Party.

In other words, it could upset the balance sheet and policies of the US central bank, and undermine its independence.

In addition, Judy Shelton stands forcryptocurrency and bitcoin, not sharing the approach of Donald Trump himself in this sense, although she was his economic adviser during the 2016 election campaign, which requires some coincidence of views.

There is an assumption that if Trump wins the elections in November 2020, Judy Shelton will replace Jerome Powell as head of the Fed in 2022.

Trump's goal, through the appointment of Judy Shelton, is to control the activities of the Fed, while there is no need to talk about the free existence of cryptocurrencies.

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