Bankruptcy

Ron Paul vs. Federal Reserve

By mcbride

Ron Paul has been a consistent critic of the Federal Reserve. He has argued for years that the central bank hurts and does not help the economy. Its actions intentionally and admittedly cause inflation which creates artificial bubbles which then must burst, causing unnecessary economic hardship according to Paul.  But over the years, Rep. Paul has not gotten any satisfaction for his questioning of Fed policy makers on the Hill, but that may be changing.

“He rarely gets satisfactory answers in hearings, and he’ll probably never get satisfaction in his long, lonely crusade to radically alter America’s monetary policy.

But if you tilt at windmills long enough, sometimes you hit. And on Wednesday, Paul did: He held his first-ever hearing as chairman of the House Financial Services Committee’s subcommittee on monetary policy, inviting two Austrian-school economists and one lonely representative from the left-leaning Economic Policy Institute to debate how Fed policy affects the unemployment rate.

This may be Ron Paul’s moment. The question now is what he does with it. ”

Here is a link: http://www.slate.com/id/2284503/

Michael

Full post as published by Texas Lawyer Blog on February 10, 2011 (boomark / email).