"It sounds a bit convincing if you haven't studied economics, but it's really completely inconsistent and for good reason," said Darrell Duffie, financial professor at Stanford University. "Gold is an incredibly volatile asset to the US dollar we know it today. It's just a misconception that if we were to go to the gold standard we would have more stable prices."
The gold standard has a long history in the republican economy.
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"It's an old idea," said Michael Bordo, finance professor at Rutgers University who worked under Schwartz at the Gold Commission. "This is part of the tradition associated with the Republican Party. It is a group that believes in the gold standard. There is a group that is skeptical of the Federal Reserve since its inception.
Shelton did not respond to an interview request from CNN.  She earned a Ph.D. in Business Administration from the University of Utah and was a fellow of many years at Stanford's Hoover Institution. Trump appointed her to be an American member of the board of the European Bank for Reconstruction and Development early in her presidency.
Associated with Trump on Fed Criticism
Shelton, former financial adviser to the 2016 Trump campaign, has also recently announced interest rate cuts, echoing the president's criticism of his own Fed leader, Jerome Powell. so openly questioned the effectiveness of the members of the Fed's interest rate committee.
Trump has performed an outstanding public press campaign on his hand-picked Fed leader, Jerome Powell. He was called Powell "loco" in interviews, asked if he could be fired and only last month refused to exclude demoting if he did not cut prices.
"I find it quite clear that President Trump is interested in nominating Ms Shelton because of her view of interest rate policy instead of gold," said Duffie.
Still, while maverick nominees like Shelton would probably inject further turbulence and insecurity, and offering splintering views in speeches and interviews, they would be in the minority in terms of politics, superiors of traditional bankers and economists in accordance with Powell.
"That he picked two people, one of which is extremely good and the other is problematic, "Bordo said." It is better than picking two people who are problematic. "