Fireworks? Ron Paul Gets Gavel for Fed Panel

The Wall Street Journal ^ | 12/09/2010 | Danny Yadron

[speciallybland]

Rep. Ron Paul, the Texas Republican who has passionately called for dismantling the Federal Reserve, will be running the panel that oversees the central bank when Republicans take the House majority next year.

Mr. Paul has introduced legislation to abolish the Fed, wrote the book, “End the Fed,” and rallied support for eliminating it.

Rep. Spencer Bachus (R., Ala.), who will take over the House Financial Services Committee from Rep. Barney Frank (D., Mass.), announced today that Mr. Paul, a libertarian who won a fervent following when he ran for president in 2008, will head the Domestic Monetary Policy Subcommittee. The 11-term lawmaker was in line for the post, but there had been some talk that GOP leadership might pick someone else.

[DannyTN]

"You mean like Bawney Frank and Chris Dodd?............... "

Point taken. No matter how horrendous a choice Ron Paul is, we've probably had worse.

[CDFingers]

Audit his meds and then audit the Feds.

[Nervous Tick]

I don’t like RuPaul.

On the other hand, I absolutely detest “The Bernank”. I hope that come January, Bernanke enters an extended period of sleeping very poorly.

[DManA]

We don’t need to abolish the FED but we do need some institution, a reorganized Fed or some other institution, whose SOLE goal is to maintain a constant currency. Shouldn’t worry about deficits, unemployment, anything except their one goal, constant currency value. If we have a stable currency everything else will take care of itself.

And there should be rewards if they succeed over (say) a 10 year period, and severe penalties if they fail.

And what ever tools we give them should be completely transparent.

[Buckeye McFrog]

for one thing, I am going to start praying for his physical safety...

[Red Badger]

I think he’ll do fine.
Unless he was lying about everything in all his speechifying.
We’ll soon see.............................................

[MrB]

You may be right.
He may be crazy.
Oh, but he just might be the looonatic we’re lookin’ for!

[LomanBill]

Rut Roh!

Two Pennies for the Old Guy?

[DannyTN]

Prior to the FED, American had deflationary depressions every 20 years. Since the Fed you’ve had two in 80 years.

Our economy has done well since the FED was established, so I don’t see evidence of this “screwing” you are alleging.

[Hostage]

Regardless of what people think of Ron Paul, I am 100% behind him on this one.

1. End the Fed.
2. Amend the Constitution to repeal the 16th Amendment.
3. Enact the FairTax (http://www.fairtax.org/site/PageServer?pagename=about_faq)
4. Repeal collective bargaining rights for federal workers.
5. Massively prosecute Wall St. accomplices in the collapse of the economy and the NGOs such as Fannie Mae, Freddie Mac, etc.

[Dick Bachert]

I AM a fan and believe he is one of the most principled men up there.

I’m also rooting for him to blow the Fed wide open and expose the theft they and their pals have committed on the American people since its creation.

Memo to Ron: Redouble your security. These boys play rough!!!

[DManA]

Tee Fed has been evolving in a very negative way for 40 years.

The worst thing was Humphrey Hawkins giving them a contradictory mandate to maintain constant currency AND full employment.

Now they want to turn it into a super regulatory agency.

There are problems at the Fed and that shouldn’t be ignored.

[Gipper08]

I don’t agree with Paul on everything...but honestly the kooks are the Bush-Rove-Fleischer-McCain-Lugar’s of the party. The establishment are the kooks.They simply do not believe in the American Revolution and man inalienable rights.

[RitaOK]

This isn’t going to help our cause in any way. It will just be ammunition for the MSM and the RATS “ _________________________________________________________

The MSM has no ammunition. They lost it all in the November 2 election and their party, for which they are the mouthpiece, is imploding as we speak. It is time for the grown up fiscally conservative who are serious to lead. Paul can educate the country on GDP, consumerism and the dead end we have hit going 100 miles an hour. This will be good for the country, whose poor education in public schools is now down around their ankles with their bottoms showing.

[Gipper08]

The Fair Tax is not Constitutional. It must be indirect and apportioned. The prebate provision is redistribution.

[FightThePower!]

Very few people on this board actually want small government and low taxes.

[DUMBGRUNT]

a krazy kook in charge

Overstated a bit?
Kooky yes, krazy not clinically.

[ProudFossil]

Over the years I have been President of several civic and fraternal organizations. A tactic I used from the very beginning about members who were bitching or complaining about something worked wonders every time I used it. It was simple.

Just put the person who was complaining in charge of the 'project' or 'department'. In almost every case, about 95% of the time, that person did make the assignment even better than it was before. In the other 5% there was very little change done and the person shut up.

So I applaud this move by Baucus.

[cowboyusa]

Yeah and the dollar has also lost 94 percent of it's value.
Those Depressions that you speak of usually ended in several years. Jackson warned about the deadly power of a national bank, it's time to start bringing his spirit back, and end the FED

[cowboyusa]

Yeah and the dollar has also lost 94 percent of it's value.
Those Depressions that you speak of usually ended in several years. Jackson warned about the deadly power of a national bank, it's time to start bringing his spirit back, and end the FED