Corvette Forum : DigitalCorvettes.com Corvette Forums banner

1 - 8 of 8 Posts

·
Banned
Joined
·
31,366 Posts
Discussion Starter #1
Is going to head the sub-committee that oversees monetary policy.. this should get fun. :thumbsup:

Ron Paul vows renewed Fed audit push next year

By Andy Sullivan

WASHINGTON, Nov 4 (Reuters) - U.S. Republican Representative Ron Paul on Thursday said he will push to examine the Federal Reserve's monetary policy decisions if he takes control of the congressional subcommittee that oversees the central bank as expected in January.

"I think they're way too independent. They just shouldn't have this power," Paul, a longtime Fed critic, said in an interview with Reuters. "Up until recently it has been modest but now it's totally out of control."

Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January.

That could create a giant headache for the Fed, which earlier this year fended off an effort headed by Paul to open up its internal deliberations on interest rates and monetary easing to congressional scrutiny.

Paul, who has written a book called "End the Fed," has been a fierce critic of the central bank's efforts to boost the economy through monetary policy.

"It's an outrage, what is happening, and the Congress more or less has not said much about it," he said.

Paul said his subcommittee would also push to examine the country's gold reserves and highlight the views of economists who believe that economic downturns are caused by bad monetary policy, not the vagaries of the free market.

Global organizations like the International Monetary Fund also will come under scrutiny, he said.

"Eventually we're going to have monetary reform. I do not believe the dollar can be the reserve standard of the world," said Paul, who has called for returning the United States to a currency backed by gold or silver.

Many economists say that the Fed's decisive actions during the 2008 financial crisis prevented the deep recession that followed from turning into a depression. But grassroots outrage over the bank bailouts and other Fed actions helped propel many Republican candidates to victory in Tuesday's congressional elections -- including Paul's son, Rand Paul, who will represent Kentucky in the Senate.

"With a lot of new members coming and the problems getting worse rather better, there's going to be a lot more people who are going to be looking for answers," Paul said.

http://af.reuters.com/article/metalsNews/idAFN0422739520101104?pageNumber=1&virtualBrandChannel=0
 

·
Registered
Joined
·
19,914 Posts
Nice ! :thumbsup:

This is going to be a fun couple of years.
 

·
Registered
Joined
·
12,410 Posts
Oh...It ain't gonna rain no more, no more!
It ain't gonna rain no more! :laughing:
 

·
Banned
Joined
·
12,109 Posts
Nice ! :thumbsup:

This is going to be a fun couple of years.
This has nothign to do with the recent shift in GOP numbers.


He has been pushing this for a long time.



Nothing will come from this because.......... Our govt......either party......

Has no control.
 

·
Registered
Joined
·
19,476 Posts
This has nothign to do with the recent shift in GOP numbers.


He has been pushing this for a long time.



Nothing will come from this because.......... Our govt......either party......

Has no control.
Wrong again! :laughing:
 

·
Registered
Joined
·
5,146 Posts
Wrong again! :laughing:
And let me explain why dune is wrong.

Now Ron has a chairmanship from which to champion the audit.

Without the change from the election he would have still been pushing but would get ... um nowhere.
 

·
Registered
Joined
·
19,476 Posts
And let me explain why dune is wrong.

Now Ron has a chairmanship from which to champion the audit.

Without the change from the election he would have still been pushing but would get ... um nowhere.
BINGO :laughing:
 

·
Registered
Joined
·
19,914 Posts
This has nothign to do with the recent shift in GOP numbers.


He has been pushing this for a long time.



Nothing will come from this because.......... Our govt......either party......

Has no control.
Oh... OK, dude. Because you have been so correct in the past.
 
1 - 8 of 8 Posts
Top