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Thursday summary: Shelton says the IMF should lead on gold; Kudlow on federal spending; Moore on the budget fight.

In a WSJ must-read, Judy Shelton advocates that new IMF chief Christine Lagarde use gold to stabilize the world monetary system (h/t: Ralph Benko).

On NRO, Larry Kudlow explains that federal spending is hard to cut.

At Forbes, Louis Woodhill satirizes Keynesianism.

On The Kudlow Report, Stephen Moore discusses the federal budget showdown:

TGSN notes that large, chronic trade deficits are impossible under the gold standard.

In The WSJ, Stephen Moore explains the 14th Amendment solution to a federal debt default.

At Capital Gains and Games, Bruce Bartlett argues a debt default is unconstitutional.

In The Washington Times, Richard Rahn suggests regulation is causing bank failures.

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