“Newt Gingrich, no (l/L)ibertarian by any means, is largely on-board with Ron Paul in re: the Fed, and he is correct.”
He did, however, say the other night (either in the debate or accompanying interview) that we need a central bank (in reference to the Fed).
We probably do, but, an institution as powerful as the Federal Reserve using the public treasury must be accountable to The People via the mechanisms of republican representation. Conservatives who believe monetary policy should be beyond the reach of political institutions are advocating oligarchy, and they aren’t conservatives at all.