Ron Paul to Chair Monetary Policy Subcommittee

[HOLLYWOOD]

Rep. Spencer Bacchus is watching over Ron. You know the Money Masters don't want Ron chairing any house committee

 

[klamath]

RP needs to fight for this position and it better happen. If they try and pass him up as the senior ranking member WE need to let our voices be heard! Let them know that if they don't want the libertarian wing to bolt again they better give RP the respect and leadership he has earned.

 

[FunkBuddha]

This just made my day.

How are the rest of the committee members picked? Does Ron have a say in who gets put on the committee with him? My guess is that TPTB will try and stack the committee against him as much as possible.

 

[WRellim]

The last two times they snubbed him he was a nobody that had no name recognition outside his district. Now he's a national icon.

I'm not sure they can get away with it this time... grassroots will be too pissed off.

What, you mean like when the "grassroots" didn't want the bailout passed?



Seriously, they know the population gets pissed off one day, and then forgets about it the next (and even if they don't forget about it, the anger can be fairly easily co-opted and redirected -- witness the majority of the "Tea Party", it got co-opted and turned into "God, Guns & Gays" by the Palin types).

 

[coastie]

What, you mean like when the "grassroots" didn't want the bailout passed?



Seriously, they know the population gets pissed off one day, and then forgets about it the next (and even if they don't forget about it, the anger can be fairly easily co-opted and redirected -- witness the majority of the "Tea Party", it got co-opted and turned into "God, Guns & Gays" by the Palin types).

+1776!!!

I still chuckle every time someone says "they better not do this or the people will do that"... AHAHHAAHAHAHAHAHAHAH.

The one and only time those words were true was a LOOOOONG time ago. Nobody's gonna do a fucking thing nowadays, they'll wait for the media to tell them when and how serious the situation is and how the sheeple have to react.

 

[Ireland4Liberty]

....called "mainstream" populace in quite a short period of time. Three years ago, how many times did we ever hear the words Libertarian, Austrian Economics, and End the Fed on corporate "media"? Our ideas are gaining ground at an astonishing rate, in relation to time, while the establishment's age old script cannot keep up.

I agree with you! The truth is on our side (freedom works!) so I guess that does help just a tad. It really is only a matter of time before the right person to deliver the message is found. Ron is awesome but if we could couple his message of liberty with a charismatic leader there is no telling what could happen especially in today's economic climate.

 

[coastie]

I agree with you! The truth is on our side (freedom works!) so I guess that does help just a tad. It really is only a matter of time before the right person to deliver the message is found. Ron is awesome but if we could couple his message of liberty with a charismatic leader there is no telling what could happen especially in today's economic climate.

I dont see this, AT ALL in real life. Even after '07-08, the overwhelming majority of people I speak to still dont have a clue whats going on, and really dont even care...and dont even get me started about my current semester in college...holy shit these kids have been brainwashed, and so have everyone of my "professors".

I'll agree that we've come a long way in the last several years, but it's too little, WAAAAAAAAAY too late, and I'm not seeing it anywhere around me.

ETA: And even with all the people I "converted", esp on my street, everyone of them then switched to McCain when it was go time. The sheeple "get it"-but only for a very short period of time, until the MSM steps back in and sets them straight again. Welcome to America: The Short Attention Span Theater

 

[Kylie]

We going to have to go Galt.

That's the only way. Who makes motors around here?

 

[HOLLYWOOD]

The latest news: http://www.opencongress.org/article...t-to-Lead-Federal-Reserve-Oversight-Committee

Ron Paul Set to Lead Federal Reserve Oversight Committee

November 5, 2010 - by Donny Shaw

Rep. Ron Paul [R, TX-14], the most popular member of Congress amongst OC users, is in line next session to take control of the Domestic and International Monetary Policy, Trade and Technology subcommittee, oversees the Federal Reserve, among other things. Paul is well known for being critical of the Fed, having recently authored a book titled “End the Fed” and sponsoring legislation session after session designed to accomplish just what the book title suggests. He has inspired a powerful, Tea Party-aligned grassroots movement around his ideas of abolishing the Fed and changing the fundamental structure of the U.S. monetary system. With the Fed right now at the center of efforts to get the economy back up and running, having Paul take over Fed oversight right now could really shake things up.
Paul recently spoke to Reuters about what he plans to do with his new position:

Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January.
That could create a giant headache for the Fed, which earlier this year fended off an effort headed by Paul to open up its internal deliberations on interest rates and monetary easing to congressional scrutiny. […]
Paul said his subcommittee would also push to examine the country’s gold reserves and highlight the views of economists who believe that economic downturns are caused by bad monetary policy, not the vagaries of the free market.
Global organizations like the International Monetary Fund also will come under scrutiny, he said.
“Eventually we’re going to have monetary reform. I do not believe the dollar can be the reserve standard of the world,” said Paul, who has called for returning the United States to a currency backed by gold or silver.
​

Earlier this year when Congress was working on financial reform, they caved to the Obama Administration on Fed transparency at the last minute. Both the Senate and the House were on route to pass strong Fed audit language, similar to Paul’s “Audit the Fed” bill, that would have removed all restrictions on which Fed activities the Government Accountability Office can look at and allow full audits to happen regularly into the future. But Obama threatened to veto the whole bill if this language was added, so, led by Sen. Bernie Sanders [I, VT], they swapped it out for language that instead would allow a one-time audit of the Fed’s activities in the financial crisis and leave in place the GAO restrictions on future audits.
With Paul gaining new leadership powers, the battle between Congress and the Administration over Fed transparency and monetary system is definitely going to heat up again next year. The energy he has amassed around his causes, both in and out of Congress, could turn this into the populist fight of our time, with Ben Bernanke and the entrenched powers he is perceived to represent as a very vulnerable target.
Pictured is Ron Paul with his son, the Senator-elect Republican from Kentucky, Rand Paul.

 

[Pistis]

CNBC: Ron Paul Is About to Totally Revolutionize the House Monetary Policy Panel

Odds are you haven’t heard of the monetary policy subcommittee. Officially known as the House Subcommittee for Domestic Monetary Policy and Technology, it’s 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.

That’s 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 he’ll 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 we’re 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 cycles—which 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.”

 

[kkassam]

duuuuuuude

 

[Inflation]

They will never let him chair a subcommittee.

They can't stop him now. He's the Godfather of the Tea Party.

If they try we'll sick Bulldog Bachmann and Mama Grizzly on them, while Rand and DeMint sit on the sidelines and enjoy the show.

 

[sailingaway]

RP needs to fight for this position and it better happen. If they try and pass him up as the senior ranking member WE need to let our voices be heard! Let them know that if they don't want the libertarian wing to bolt again they better give RP the respect and leadership he has earned.

I'm afraid if we don't make it clear in advance they'll just announce it and it will be all over. 'Whoops! We didn't know....'

I may just be being paranoid, but they did do it before.

 

[klamath]

I'm afraid if we don't make it clear in advance they'll just announce it and it will be all over. 'Whoops! We didn't know....'

I may just be being paranoid, but they did do it before.

This is why RP has to be proactive and start calling and asking what the status of his chairmenship is. If he doesn't they will do exactly as you said. "Eh, we didn't know you wanted it" RP kept us informed on Audit the FED and he needs to do the same here.

 

[ItsTime]

CNBC: Ron Paul Is About to Totally Revolutionize the House Monetary Policy Panel

We Are Winning!

 

[mello]

I would love to See Ron Paul force Krugman to show up & sit next to Peter Schiff in front of that
subcommittee for 3+ hours.

 

[austrobrady]

Congressional Subpoena Power

As Chairman of The Domestic Monetary Policy Subcommittee, Ron Paul will have the power to subpoena documents and compel witnesses to appear before the committee. He can't force individuals to testify, but can force them to exert their fifth amendment rights. It won't look good if the FRB president of each of the twelve privately held banks refuse to answer simple questions; they might not all take the fifth. We expect subpoenas of the FOMC, The President's Working Group on Financial Matters, The Board of Governors, but can twelve FRB Presidents keep their stories straight if they are compelled to testify one after another? I think not and some FRB presidents are more hawkish on inflation than others; some might be more forthcoming and make it hard for the others to stonewall. The polycentric nature of The Monster can be used against it.

And yes, compelling that arch-Keyensian Krugman to sit next to Bob Murphy or Peter Schiff will be spectacle entertainment not seen since the days the Circus Maximus was in fifth gear.

 

[austrobrady]

http://en.wikipedia.org/wiki/Frank_Lucas_(politician)

Rep Frank Lucas is third in line on the Domestic Monetary Policy subcommittee. With Mike Castle gone, Lucas is likely to become the ranking majority member on the committee. He will chair the committee in the event that Chairman Paul is absent.

Lazyweb: Do you know anything about Lucas' voting history, temperment or interests?