Thursday, November 4, 2010

Ron Paul:Chairman of the Monetary Policy Subcommittee?

There are reports out there that Ron Paul has already been named chairman of the monetary policy subcommittee. This is incorrect. No one has yet been named.

Because Republicans now control the House and Ron is the senior Republican on the of the monetary policy subcommittee, technically he should become Chairman. But the Republican establishment have prevented Paul from becoming Chairman in the past.

Lew Rockwell explains:
If the Republicans weren’t dishonest, and entirely in the pocket of the big banks, Ron Paul would be taking Barney Frank’s place as chairman of the finance committee. Not satisfied with blocking him there, they have even kept him out of the chairmanship of the monetary policy subcommittee, as Barney has frequently remarked. The first time the Republicans erased Ron’s seniority; the second time, they imported a congressman from another committee to take the job; the third time, they temporarily abolished the subcommittee. This time, I think they would fear the backlash, so Ron will probably be chairman. If so, I can’t wait for his hearings on the QE2, the gold, the business cycle, and much else.

1 comment:

  1. Dr. Paul is already making plans it sounds like. Honestly it would be a disaster if they tried to block him this time, given the heightened interest in the Federal Reserve and it's activities.