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View Full Version : CNBC discusses possibility of Ron Paul leading Subcommittee




tsai3904
12-03-2010, 03:28 PM
CNBC just had a segment on discussing the possibility of Ron Paul leading the Subcommittee on Domestic Monetary Policy.

The host interviewed Tony Fratto, former White House Deputy Press Secretary for George Bush, and Greg Valliere, a political strategist, for about 5 mintues.

Tony explained that the Subcommittee does not have a lot of power and Ron Paul will just use the Fed as a punching bag. He gives Bernanke a lot of credit for how he has handled the economy.

Greg doesn't think any legislation will come out of the Subcommittee. He thinks the Fed will stop buying assets in June 2011 as promised because the the Fed may be scared of the political risks.

Both described themselves as defenders of the Fed.

MRoCkEd
12-03-2010, 03:31 PM
Sounds like a fair and balanced discussion.

Bruno
12-03-2010, 03:35 PM
"He gives Bernanke a lot of credit for how he has handled the economy."

hahahahahahahahahahahahaha!!!

TheTyke
12-03-2010, 03:41 PM
LOL!!! A lot of "credit" indeed. :)

Paul.Bearer.of.Injustice
12-03-2010, 03:45 PM
subcommittees are worthless and powerless.

Bruno
12-03-2010, 03:47 PM
subcommittees are worthless and powerless.

They have the power of speech

sailingaway
12-03-2010, 03:47 PM
subcommittees are worthless and powerless.

My understanding is that this one has subpoena power and can call for documents.

Lucille
12-03-2010, 03:59 PM
My understanding is that this one has subpoena power and can call for documents.

Napolitano says that a federal judge would be able to enforce subpoena power (12:12 mark):

YouTube - Scoreboard 11 3 2010 (http://www.youtube.com/watch?v=nZWhf8ejBrU)

Lew with the Judge, who asks him what happens if Ron doesn't get the Chair:

YouTube - Will Ron Paul Become Chair Of The House Subcommittee On Monetary Policy? And Subpoena The FED? (http://www.youtube.com/watch?v=zd9fpFtpffk)

MRoCkEd
12-03-2010, 04:24 PM
Here's the CNBC tube mentioned in OP:

YouTube - Ron Paul to Oversee the FED? (http://www.youtube.com/watch?v=s9NGtv4Xj8s&feature=sub)

TheBlackPeterSchiff
12-03-2010, 04:27 PM
"He gives Bernanke a lot of credit for how he has handled the economy."

hahahahahahahahahahahahaha!!!


I wonder how long they can rest on the line.

jclay2
12-03-2010, 04:34 PM
Here's the CNBC tube mentioned in OP:

YouTube - Ron Paul to Oversee the FED? (http://www.youtube.com/watch?v=s9NGtv4Xj8s&feature=sub)

All I can do is laugh and these schills. Are they crazy? Do they have one thought in their head that wasn't instilled in their brains by an ivy league socialist econ professors? Ben Bernanke deserves a lot of credit? Seriously? :(

Ytrebil
12-03-2010, 05:23 PM
Here's the CNBC tube mentioned in OP:

YouTube - Ron Paul to Oversee the FED? (http://www.youtube.com/watch?v=s9NGtv4Xj8s&feature=sub)

My favorite part is the quotes they repeat underneath

"We'll go back to horse drawn carriages before we go to a gold standard."

"Ron Paul will use the Fed as his personal punching bag if he's chairman."

"Fed criticism by Ron Paul and others is wildly off-base."

"Can't see any scenario where Ron Paul changes Fed's dual mandate."

"None of Ron Paul's idea's are going to happen."

"Ron Paul's more extreme ideas are not going anywhere."

What scum.

vita3
12-03-2010, 05:44 PM
Subcomitees dictate a lot of what gets done & looked into in DC.

guitarlifter
12-03-2010, 05:48 PM
My favorite part is the quotes they repeat underneath

"We'll go back to horse drawn carriages before we go to a gold standard."

"Ron Paul will use the Fed as his personal punching bag if he's chairman."

"Fed criticism by Ron Paul and others is wildly off-base."

"Can't see any scenario where Ron Paul changes Fed's dual mandate."

"None of Ron Paul's idea's are going to happen."

"Ron Paul's more extreme ideas are not going anywhere."

What scum.

And they think that destroying the nation's, nay, the world's economy while violating every American's rights in an innumerable amount of ways daily isn't extreme?

Koz
12-03-2010, 06:23 PM
These chuckleheads know dick about economics.

The one truth is that as our economy continues to erode and the dollars in bank accounts become even more worthless people will demand reigning in the entity that is causing it all.

I suspect in the end politicians will use the Fed as a punching bag to save thier own skin. Let's face it, it is easy to blame someone else and politicians are good at it. The ironic thing is that in this case they will wind up being correct they just won't know it.

Inkblots
12-03-2010, 06:54 PM
My favorite part was when the one gentleman said that the 'End the Fed' movement is nothing new, and that 100 years ago William Jennings Byran made his 'Cross of Gold' speech against the Fed. That was wrong in so many ways I almost got a nosebleed.

anaconda
12-04-2010, 02:34 PM
My understanding is that this one has subpoena power and can call for documents.


I agree that if this is the case then it is hardly powerless. Who needs an audit if you can subpoena the information?:D

UPDATE:

The so called "subpoena power" is bullshit. Lew Rockwell (above) states that the subpoenas need to be approved by both the Financial Services Committee and the entire House. LOL. Not gonna happen. Unless somehow Ron and Rand can create public outrage if and when the subpoenas are voted down.