bobbyw24
11-20-2009, 09:21 AM
There is a rumor that has been around Hollywood for decades that some of the greatest silent film comedy scripts were created by screen writers who would bribe wardens at a local insane asylum to allow a patient to sit in on their story meetings. Allegedly, some of the most hilarious moments in the history of comedic cinema came out of ideas from the minds of people who spent all of their time on locked wards. Even the craziest person in the world can give birth to an idea which is both brilliant and intelligible.
Ronald Ernest Paul, MD, is the member of the House of Representatives from the 14th Congressional District of Texas. He has run for President twice, the first time in 1988 as the candidate for the Libertarian Party. Paul is a man of many talents and has, over the course of his career, published newsletters about investing and the “Ron Paul Survival Report.” Paul is also a coin dealer who believes in home schooling. He is, in other words, a picture perfect member of Congress.
Paul came up with the idea some time ago that the activities of the Federal Reserve are conducted in secret and that the public should have the right to know how, when, and to whom the nation’s central bank lends it money. He has finally convinced enough of his peers about the validity of his concerns. Now, the Financial Services Committee has approved an amendment to allow government auditors the right to look at the entire balance sheet of the Federal Reserve. Paul’s quest to bring down the Fed has finally gotten to the point at which the Board of Governors needs to be concerned.
Paul’s amendment is part of a larger bill that intends to deal with the consequences that any future failure of large banks might have on the global credit markets. His program for the Fed may set a precedent that will serve as a model for the entire financial services industry.
The Fed’s argument against Paul’s proposal is simple and defensible. The agency keeps
http://247wallst.com/2009/11/20/the-federal-reserve-vs-ron-paul/
Ronald Ernest Paul, MD, is the member of the House of Representatives from the 14th Congressional District of Texas. He has run for President twice, the first time in 1988 as the candidate for the Libertarian Party. Paul is a man of many talents and has, over the course of his career, published newsletters about investing and the “Ron Paul Survival Report.” Paul is also a coin dealer who believes in home schooling. He is, in other words, a picture perfect member of Congress.
Paul came up with the idea some time ago that the activities of the Federal Reserve are conducted in secret and that the public should have the right to know how, when, and to whom the nation’s central bank lends it money. He has finally convinced enough of his peers about the validity of his concerns. Now, the Financial Services Committee has approved an amendment to allow government auditors the right to look at the entire balance sheet of the Federal Reserve. Paul’s quest to bring down the Fed has finally gotten to the point at which the Board of Governors needs to be concerned.
Paul’s amendment is part of a larger bill that intends to deal with the consequences that any future failure of large banks might have on the global credit markets. His program for the Fed may set a precedent that will serve as a model for the entire financial services industry.
The Fed’s argument against Paul’s proposal is simple and defensible. The agency keeps
http://247wallst.com/2009/11/20/the-federal-reserve-vs-ron-paul/