Fed Under Fire: $200B in Bank Payouts, Gold Bond Talks, Full Audit Urged | Judy Shelton
Fed Under Fire: $200B in Bank Payouts, Gold Bond Talks, Full Audit Urged | Judy Shelton
Kitco News: 7-22-2025
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
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