Fmr. Libertarian Party presidential candidate handed top post by GOPFrom Eric Dondero:
In what can only be described as a huge victory for the libertarian wing of the GOP, word is leaking out of Washington that Congressman Ron Paul of Texas is about to be appointed Chairman of the Financial Services subcommittee. The committee has near complete oversight of the Federal Reserve.
From The Hill "Paul poised to take on Fed":
Speculation has swirled that Paul would immediately use his subpoena powers as chairman of the subcommittee to compel testimony from Federal Reserve officials...It is Boehner and soon-to-be House Majority leader Rep. Eric Cantor who have final say in the appointment. Sources indicate that the appointment could come early next week.
Paul said he wants to foster a debate about the Fed’s role in the American economy and begin the push for greater congressional oversight. He said he wants to use the subcommittee to “discuss the relationship of monetary policy to the business cycle and particularly how they create the booms and the busts” in the economy.
A slew of Republican leaders, ranging from former Alaska Gov. Sarah Palin to Speaker-designate John Boehner (R-Ohio), have criticized the Fed’s decision to buy $600 billion worth of Treasury bonds in an attempt to boost the economy. Republican critics argue the action, which essentially amounts to printing money, will only lead to a less valuable dollar and higher inflation.
Standard Ron Paul disclaimer: This website is a huge fan of Ron Paul on domestic matters, but disagree strongly with his non-interventionist foreign policy.
8 Bloviations:
I might not be with RP on all things big and small, but on this I am very pleased. Hopefully the position actually has power. I am not sure what kind of influence, or direct control, he can wrangle out of it, but here is hoping he can do his hearts desire, and work to our benefit, all the way through that rotten apple of a department (or whatever the Fed actually is).
I characterize the Federal Reserve as a private entity with a government granted monopoly to print Federal Reserve notes (described by most as US dollars). I would not argue that the Federal Reserve was created by the government and can be abolished by the government.
It has been created, and abolished, three times before this iteration. I cannot help but think of The Matrix on this one.
Now I see that Eric (the twit) Dondero is back to prefacing that we like Rep Ron Paul on his Domestic Policies and hate him on his Foreign Affairs.
Typical Donderoism..... try to play both sides of the fence.
The Tea Party was started by Ron Paul and his followers, the Republican wins in the House and Senate were inspired by Ron Paul, his followers and the Tea Party Movement.
Eric (the twit) Dondero again can't hack that it wasn't him that started this evolution of Fiscally conservative republicans to be elected to office. Poor Eric.... he will defend that intellectual giant (Palin) to the death yet will denigrate Ron whenever possible.
If you want to understand how the Fed got into power, then watch the documentary called Creature of Jekyll Island by G Edward Griffin who's done extensive research on the subject.
As for agreeing with everything RP says, no one will agree on everything, but the top priority in my book is restoring the Constitution and getting the government less involved in the people lives. No one else seems to care about that except RP. He's the only politician for the people, and NOT for big interests.
All the other issues won't matter if our country keeps going in the direction it is with these Wallstreet thugs. The shadow government of before is now visible.
I'll believe it when I see it...
It would be the biggest monkey in the statist machine since the election of Calvin Coolidge so while hopeful, I'll not hold my breathe
I hope you meant Monkey Wrench...
This has got to be the Fed's worst nightmare.
Love it. Who ever is chief of staff for Republicans is doing a great job. Perfect place for Ron who drew me to the party with his '88 run.
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