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Wednesday, November 10, 2010

To call this a sea change...

...would be an understatement. Watch out, Bernanke.
The Fed’s worst nightmare... Ron Paul to chair Monetary Policy Subcommittee

For years, the Federal Reserve had a good friend in their pockets when Congressmen Barney Frank was chairman of the Monetary Policy subcommittee. That is about to change, and taking Barney's place is the one man who would see the Federal Reserve dissolved.

That man is Congressman Ron Paul...
Among the things the Federal Reserve System is charged with is to "maintain the stability of the financial system and contain systemic risk in financial markets." What cost a dollar 1913, the year of the Fed's creation, cost $21.57 in 2008; there have also been some undeniable unpleasantnesses in the financial markets since then. Res ipsa loquitur; it's time for a fresh approach.

1 comment:

Augustine said...

Love it!
I'm not a total Paul-ite, but making the fake money people squirm and try to justify themselves is certainly salutary.