Ron Paul Ready to Go to War Against the Federal Reserve: Paul Will Chair Subcommittee on Fed Oversight

Ron Paul has been chosen to chair a subcommittee in the House of Representatives to oversee the Federal Reserve. Paul talks about his leadership plans for the committee with Bloomberg Television.

“What I want to do is emphasize the oversight of the Federal Reserve, pursue this idea of auditing the Fed.” Paul said today. “We have a right to know, Congress has an obligation to know, the people want to know and Congress is behind us to do that right now.”

“We have to look into it and we have to start to consider reforms.” the Congressman said.
“I think it’s also very important for us to understand why monetary policy is so dangerous and why we should think about changing the Fed and getting rid of the Fed, and that is their contribution to unemployment, their contribution to the business cycle.” Paul added.

“They are the instigators of inflation. So for many many years, until at least three years ago, they were always given the credit for boom times and it was always thought that they could get us out of the bad times, but that no longer plays out because it isn’t true.”

“They give us the inflation but then they also give us bubbles that eventually always burst. But we are now in a serious problem with the financial markets and the monetary markets, and already many people around the world are talking about monetary reform, the dollar will not last as a reserve standard.” the Congressman warned.