Posted on 12/03/2010 4:40:45 PM PST by Bokababe
With Republicans taking control of the House in January, long-time Federal Reserve critic Rep. Ron Paul is in line to take over chairmanship of the House Financial Service Committee’s Subcommittee on Domestic Monetary Policy and Technology. This is the subcommittee with direct oversight of the Federal Reserve.
The thought of having some actual oversight of the Fed is apparently making Wall Street and the rest of the banking industry nervous. Recent disclosures of Fed lending to foreign banks and Wall Street did not help the public image of either Wall Street or the Fed. With Congressman Paul pushing for a full audit of the Fed, it is likely even dirtier secrets of the Fed may come to light.
So where have the Fed and Wall Street turned for protection? According to Bloomberg, the Fed’s new protector might be incoming House Speaker John Boehner.
(Excerpt) Read more at cato-at-liberty.org ...
The money quote.
John Boehner wants to keep Ron Paul from getting the Chair overseeing the Federal Reserve.
Mr. Boehner, don’t be a damned fool. You talked the talk, now walk the walk. We put our trust in you for a good reason. Please don’t prove us wrong.
The Fed has been needing Ron Paul style oversight for far too long. And we the people demand this oversight. Who better than Paul?
Or, are there skeletons in other closets too?
It’s amazing how neither political party wants any oversight over the way the government spends our money.
Someone very powerful is hiding something.
Where is WikiLeaks when you need them?
The money quote.
Yep.
So, tell me again, what's wrong with having an audit of the Fed?
As I've said before, despite considerable scorn, somewhere a golf course bar has an empty stool. I do not respect this checked-pant RINO and never will even if his speech writer does craft an amusing, conservative sounding line occasionally.
I’m no desciple of Ron Paul but if he will be a watch dog over the fed(not a USA benefactor) I’m for him on this. In fact I think it would be good if our elected and appointed officials had the Federal Reserve’s primary obligation to the USA instead of the international banking cabal.
What could be possibly wrong with that zealot Paul investigating anything?
I’m no desciple of Ron Paul but if he will be a watch dog over the fed(not a USA benefactor) I’m for him on this. In fact I think it would be good if our elected and appointed officials had the Federal Reserve’s primary obligation to the USA instead of the international banking cabal.
The big banks are the definition of the Establishment and they’ve got a good thing going in the Fed. Bernanke back in late 08 early 09 whined when pressed about congrerssional auditing stating it would hinder the Fed’s autonomy and ability to respond without political pressures.
This is exactly the type issue this latest election was all about. Boehner better not falter right out of the gate.
In the case of the FED I think that the only thing worse than not knowing the truth about what they have been doing is knowing the truth. That is the greatest collection of evil plotters imaginable.
I am not a Ron Paul at all; but I hope he gets that chairmanship. I’d love to see someone apply consistent constitutional principles to our monetary policies. I don’t even know what that would look like, but I’m interested in seeing it tried.
I meant Paulista.
Mr. Boehner, don’t be a damned fool.
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Hope John Boehner doesn’t become the GOP Nancy Pelosi.
LMAO...
I’m thinking Paul camped out the three months prior to the election so he could be first in line.
You better believe it! And Ron Paul and every newscaster has been talking as though RP's Chairmanship of this committee next year is a forgone conclusion. If Boehner blows on this, Boehner will be in big trouble.
I know a couple of people who called Boehner's office on this issue, and Boehner is denying he doesn't want Ron Paul for the Chair -- even saying that he isn't involved in the Chair choice at all, only the committee members can decide who their Chair is. But Business Week said that several Repub Reps told them that Boehner doesn't want RP as Chair, so it's not just Bloomberg saying this.
I don’t have a problem with an audit. I do believe a case could be made that a fully transparent process could cause some problems too though. So I’m not as convinced it’s a good idea that others do. There are things that take place, if known, could cause some panic. Not in all instances, but in some instances.
It seems to me a case can be made for a fed-like entity. I don’t want it run by the U. N. It therefore must be somewhat autonomous or nations could complain it was too tied to the U. S. Government. And while we might not like how things are now, I can see some scenarios that would be a whole lot worse.
The Fed takes a real beating. I personally have some problems with the institution. I’m not convinced there’s a way to avoid all of them.
It’s basically one of those sticky wicket things that will always be problematic one way or another.
The Rinocratic Oligarchy will brook no inquiries from the peasants and peons concerning their oversight of We the People’s Treasury....
The Empire Strikes Back....
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