Taking a look back at last week’s GOP debate, there is clearly room for much criticism of CNBC and the questions asked of the candidates. But, sound money advocates might concede that the moderators did get one thing right: monetary policy.
According to an article published this morning in The Hill by Dr. Judy Shelton, Co-Director of the Sound Money Project, “between Donald Trump’s strident objection to currency manipulation as an infringement on free trade and Texas Sen. Ted Cruz’s clarion call for “getting back to rules-based monetary policy,” it seems that the importance of sound money for the proper functioning of free-market capitalism might be coming to the forefront as a winning political issue.
Interestingly enough, another little known sound money champion made a splash this past week by being elected Speaker of the House. In his new office, Rep. Paul Ryan would do well in joining the candidates in promoting the importance of adopting a rule based monetary system. In this video, you can see him do just that on a panel along with Dr. Shelton and Alejandro Chafuen, directors of the SMP.
This has been an important week for sound money and advocates of a rule based monetary system should keep fighting the good fight as it finally seems that we’re on the verge of seeing some tangible results.
To read Dr. Shelton’s piece in its entirety, click here.