Fed feels earthquake? Ron Paul to have oversight
Rep. Ron Paul, R-Texas, a longtime advocate for plans to end the Federal Reserve’s control of U.S. monetary policy, will assume the chairmanship of the Domestic Monetary Policy Subcommittee of the House Committee on Financial Services when the 112th Congress begins in January, WND has confirmed.
Michael Steel, press secretary for Minority Leader John Boehner, R-Ohio, had told WND that Boehner had no intention of blocking Paul from being subcommittee chairman.
Then today, Rep. Spencer Bachus, R-Alabama, the chairman-elect of the House Financial Committee, formally appointed Paul to head the monetary policy subcommittee.
The Federal Reserve might have been feeling an earthquake right about that time.
The decision to appoint Paul to the position ended days of speculation in which Paul supporters had worried that the Republican leadership in the House might seek to keep him from the position because of the congressman’s openly expressed concerns about Federal Reserve management of U.S. monetary policy.
The decision to appoint Paul to the position ended days of speculation in which Paul supporters had worried that the Republican leadership in the House might seek to keep him from the position because of the congressman’s openly expressed concerns about Federal Reserve management of U.S. monetary policy.
In September, Ron Paul authored a book titled “End the Fed,” in which he argues the Federal Reserve should be abolished and the United States dollar should be returned to the gold standard.
Paul had disclosed to WND in an exclusive interview what he plans to do once he becomes chairman of the subcommittee.
“First and foremost, I want the subcommittee to actually begin talking about monetary policy,” Paul said. “The Federal Reserve has insisted that Congress has no role in monetary policy. But that’s not what the Constitution says.”
(Excerpt) Read more at wnd.com
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