President Trump has chosen a huge winner for the Federal Reserve Board: economist and monetary expert Judy Shelton. Start with her achievements: same as our friend Herbert Meyer, she forecast with near-date accuracy the economic collapse of the Soviet Union based on economic reading alone.  It was a bold prediction, made two years before it actually happened, in 1987.  She was criticized for it, but she knew she was right and doubled down.  In 1990, she wrote a book called The Coming Soviet Crash: Gorbachev's Desperate Pursuit of Credit in Western Financial Markets."  The book drew naysaying, too.  They called her an extremist...except that she was right. She also warned about the currency meltdowns in emerging markets that occurred through the 1990s.  Her 1998 book Money Meltdown is a classic of the genre, explaining how these disruptive events occur and can...(Read Full Post)