Ron Paul: I'd Rather Congress Run Monetary Policy Than The Fed

[bobbyw24]

Vincent Fernando|Nov. 23, 2009, 12:16 PM | 86 |4


Ron Paul responds to critcism that his attempts to get transparency from the Fed essentially amount to putting Congress in control of U.S. monetary policy and stripping the Fed of independence.

Joe Kernen: 'Look at what Congress has done to American fiscal policy, now you want them to run monetary policy, that sounds insane'

Ron Paul: 'If you want to be a strict constitutionalist, there's a lot more defense of having Congress involved with defending the value of the currency rather than delivering this responsibility over ot the Fed'

Start at 0:45.

http://www.businessinsider.com/ron-paul-75-of-the-people-want-an-audit-of-the-fed-2009-11

[AuH20]

Balanced budget amendment would take care of the argument.

[TCE]

Vincent Fernando|Nov. 23, 2009, 12:16 PM | 86 |4


Ron Paul responds to critcism that his attempts to get transparency from the Fed essentially amount to putting Congress in control of U.S. monetary policy and stripping the Fed of independence.

Joe Kernen: 'Look at what Congress has done to American fiscal policy, now you want them to run monetary policy, that sounds insane'

Ron Paul: 'If you want to be a strict constitutionalist, there's a lot more defense of having Congress involved with defending the value of the currency rather than delivering this responsibility over ot the Fed'

Start at 0:45.

http://www.businessinsider.com/ron-paul-75-of-the-people-want-an-audit-of-the-fed-2009-11

Agreed, although it is obviously not an ideal, it is just "better than what we have now." Having 535 elected officials controlling monetary policy>9 un-elected men in a room controlling monetary policy.

[stu2002]

amen

[Zippyjuan]

Congress cannot balance a checkbook. I would not give them control over the money supply. It would also make it more used to manipulate things to favor the party in charge for the next election- say pumping up the supply of money to boost jobs before an election even at the cost of high inflation.

Whomever is in control, I would also like to see a balanced budget amendment- along with a line item veto (subject to congressional override) for the President.

[amy31416]

I don't like our Congress, but if you want someone other than that to run our economy, ya better make an amendment to the Constitution.

[Matt Collins]

YouTube - 6/22/09 - U.S. Senator Bob Corker (R-TN) : against auditing the Fed (http://www.youtube.com/watch?v=P7mH2euK_d4&feature=player_embedded)

YouTube - Independant federal reserve system to Bob Corker (http://www.youtube.com/watch?v=JkFzqq7Rbmo&feature=player_embedded)

[Matt Collins]

http://www.campaignforliberty.com/blog.php?view=26706

[Andrew-Austin]

His irrelevant comment about constitutionality hurted him here, overall it was a good interview but now Fed hacks can use that sound byte out of context against him. Why jabber on about the constitution? Everyone already knows he is a strict constitutionalist, he should have made it clear that he does not think the Fed or Congress should control monetary policy.

The comments on that page addressed things quite nicely though.


I don't like our Congress, but if you want someone other than that to run our economy, ya better make an amendment to the Constitution.

Because by sprinkling constitutional pixie dust on the matter, that makes it okay.

Oh if only we had amended the Constitution for the banking cartel.