Fixing The Dollar Now: Why US Money Lost Its Integrity and How We Can Restore It

by Judy Shelton

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.

70 pages, Kindle Edition

First published November 1, 2011

Reviews

[Loren A. Boston · Rating 5 out of 5]

Excellent summary of the problems associated with fiat money. Highly recommend. Don’t understand how anyone could give this book a poor review. It’s extremely well argued, clear and insightful. Read it yourself!

[Melissa · Rating 3 out of 5]

This is a simple and clearly written book explaining the problems with the U.S.'s policy of continual devaluation of the dollar. Shelton proposes a plan for gradually returning to a fixed standard of value for the dollar, which seems a bit idealistic. There are several interesting nuggets here to think about.. I could have used more information and documentation, although I appreciate that the author's simple tone made a difficult topic more understandable.

[Bryan · Rating 4 out of 5]

quick one, required reading.