Effectively, eh? Gee. Why the qualifier?
Because it’s the NY Slimes! What a great source for all things conservative!
He's qualifying it because he can't quantify it ... no one can.
Answers are on the way.
House Monetary Policy Panel Is About to be Totally Revolutionized
CNBC | 11-5-10 ----FR Posted Nov 06 by My Favorite Headache
Odds are you havent heard of the monetary policy subcommittee. Officially known as the House Subcommittee for Domestic Monetary Policy and Technology, its a subdivision of the House Financial Services Committee that has mostly occupied itself with pressing questions of issuing commemorative coins and whether or not to eliminate the penny.
Thats about to change.
Ron Paul, the Republican Congressman from Texas, is the ranking member of the monetary policy subcommittee, and when the next Congress takes over hell likely be the chairman of the subcommittee.
And Congressman Paul has some big plans. I will approach that committee like no one has ever approached it because were living in times like no one has ever seen, Paul said in an interview with NetNet Thursday.
Paul said his first priority will be to open up the books of the Federal Reserve to the American people. We need to create transparency there. To see what it is they are buying and lending, and who it is they are dealing with, Paul said.
Paul mentioned that he hoped to use subcommittee hearings to educate the public about the causes of business cycleswhich he believes are mainly attributable to monetary manipulation by central bankers. Monetary reform is also on the agenda.
Paul is a noted advocate of the gold standard. We will have to have monetary reform, Paul said. I think those on the other side of this issue are already planning. They are going to try to replace a bad system with an equally bad system.