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The effort to bring some transparency to the Federal Reserve (why on earth is this hard?) could bear some fruit.
A U.S. House committee advanced a proposal to remove a three-decade ban on congressional audits of Federal Reserve interest-rate decisions, a measure backed by a lawmaker who has called for the abolition of the central bank.Hey Ben: get bent. You and your ilk have really [verbed] the [direct object] for decades. It's time for your unholy reign to end.
The House Financial Services Committee today, in a 43-26 vote and a second voice vote, attached the amendment for a broad audit of the Fed to legislation creating a council of regulators to monitor systemic risk. The proposal was offered by Representative Ron Paul, a Republican from Texas, and based on a bill with more than 300 co-sponsors.
Fed Chairman Ben S. Bernanke has opposed the Paul legislation, saying it may result in interference with monetary policy.
Barney Frank is against it...that is a pretty good sign it is a good thing.
ReplyDeleteWhat makes Paul so despised by the powers that be is his consistent warning that unlimited government power is a threat to our liberty. The Fed controls our money supply, making us vassals to the central government. His success in pushing through this legislation -- something he's agitated for for more than a decade -- reflects the growing distrust of the big-business/big-government cabal that's gutted our Constitution.
ReplyDeletePaul's heroic stance against interventionism at home and abroad comes from his consistent, principled position that government must be limited if we are to live as a free people.
For the life of me, I can't figure out why Paul isn't more popular with conservatives. He's a genuine, no-compromise, limited-government person ... The only guy in Washington who doesn't trust Washington.
ReplyDeletePaul is not more popular because he doesn't support the wars in the middle east or the string of US bases around the world. In effect he doesn't support the interventionist foreign policy that the conservatives in power push.
ReplyDeleteWhat a friggin obvious thing to do. Audit the Fed. Bernanke has got to go, shortly after Turbo Tax Cheat Timmy Geithner.
ReplyDeleteI am a Conservative and I respect Pauls small government policies/ideas.
It's the Paulians that have ruined it for him.