Judy Shelton, former Trump Fed nominee and author of Good as Gold, joins Jeremy Szafron to discuss the rising calls to audit the Federal Reserve, the $200 billion in interest payments to banks and foreign institutions, and the growing momentum behind gold-backed U.S. Treasury bonds. Shelton confirms that conversations with Trump administration officials are “constructive” as they consider launching long-term, gold-redeemable debt ahead of America’s 250th anniversary.
In this Kitco News interview, Shelton outlines why the Fed’s balance sheet losses, interest-on-reserves framework, and constitutional overreach demand urgent reform. She also addresses whether she would accept the role of Fed Chair in 2026.
Key topics:
-$200B in Fed interest payouts — and who’s really benefiting
-Why Shelton calls the Fed’s system “perverse”
-Structural audit bill gaining traction in Congress
-Gold-backed Treasuries: how it could work, and who’s behind it
-Trump administration’s internal debates on Fed reform
-Shelton’s 2026 Fed Chair potential: would she accept
Follow Jeremy Szafron on Twitter: @JeremySzafron (
Follow Kitco News on Twitter: @KitcoNewsNOW (
Follow Judy Shelton on Twitter: @judyshel (
00:00 Introduction
00:32 Judy Shelton’s Perspective on Fed Policies
01:13 The 2008 Financial Crisis and Fed’s Response
03:47 Current Issues with Fed’s Interest Payments
06:30 Congressional Oversight and Fed Accountability
09:38 Calls for Fed Reform and Leadership Changes
15:53 Gold and Sound Money Movement
18:36 Proposal for Gold-Backed Treasury Bonds
36:28 Conclusion
#FederalReserve #JudyShelton #AuditTheFed #Gold #Trump #MonetaryPolicy #InterestRates #KitcoNews
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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23 Comments
Judy Shelton pulls no punches:
“The Fed’s a centrally planned economy when it comes to money and credit.”
She confirms direct discussions with the administration – and calls the $223B interest payout system “perverse.”
Full gold bond blueprint, audit demand, and more – watch now and let us know your take.
Problem with your proposed elongating the bond term we’ve defaulted on our credit to the world by taking us off to gold standard. I don’t believe the world trust anything that we put together anymore.
Audit the Fed asap.
This is a GREAT interview. This lady is a master of finance and makes me think there is still hope for our government to restore its finances. I hope this can happen, then America wouuld truly be great again.
Judy explained the banking clearly
What Shelton is describing is a safety valve for buying treasuries.
Digital currency. Does this make people more susceptible to those who might crash the system? Also, It would appear that this digital system would be dangerous to people by giving more control to the government, which could shut off peoples access to their money.
it would seem extremely important to maintain physical money for transactions to protect people from these potential threats. I’m using the term money to refer to currency and tokens (coins) for those who are particular about using correct terminology
Central Banks are a huge MAFIA!!!
She’s the best pick to replace Foul Powell
Beautiful PIn – a real classy treasure. Bravo!
Of course the current CPI hides 1-3% inflation annually….
All this while the President and his gang add 5Tn to the existing 37Tn debt. It'll take the US a lot of market manipulation and financial responsibility decades to fix this mess… 2070 may be about right..
Federal Reserve is part of the Deep State or controlled by them. However one wants to phrase it. From sorting out the sources i entertain the idea that one of the D.S.'s agenda is the collapse of the U.S. in our current and historic form. There is a lot going on that is out of our sphere of awareness and thus somethings we cannot control, but will live through however we react . . :>/
MORE TRUMPFLATION ! MORE TARIFF DEMENTIA ! INVEST IN GOLD !!!
Greenspan didn’t think, oil was an Economic Indicator.
Just get every American to buy gold Judy, that’s all you have to do to fix everything Judy.
unless we have a ballot budget initiative why would anybody trust Congress not to just spend and spend and spend and stick our kids with theise bonds?
Without an audit nobody knows how much gold is in the possession of the government of the USA.
the old trick they wouldn't do anymore. she really said that smh
Judy Shelton is a political opportunist. She argued for high interest rates under Obama and now supports Trumps desires for low rates. She has limited experience and the Fed needs to keep its independence otherwise it will get jerked around by every future administration. She argues against independence. Catastrophe !
Just another part of covert socialism. Force the banks to make loans that will be loosers and then find many ways to gift them taxpayer money by the back door too keep them solvent. Inch by inch we go into socialism. Gear up for hard times and poverty for many as the dollar falls fast in buying power due to "gifting" and programs of all types that will bankrupt us all. We will sink into poverty then people will be willing to work cheap, live cheap, and jobs can come back. This will take decades. Young people today will probably see the recovery but for the rest of us , get ready for some difficult times.
Elite con artist.
great content,thanks jeremy