Thursday, March 1, 2012

Paul: "The Fed's going to self-destruct eventually anyways"

Rep. Ron Paul (R-Texas) took a break from his presidential bid to pursue one of his favorite pastimes — criticizing the Federal Reserve.

Paul returned to Capitol Hill on Wednesday to question Fed Chairman Ben Bernanke, who was appearing before the House Financial Services Committee to deliver his semiannual testimony.
I'm glad The Hill got this. But I reported on this a lot sooner--perhaps even first--on my own blog back in November and the story was technically published in December (due to a conflict).

Here's the relevant excerpt:
In his speech, Paul said that he would not end the Federal Reserve in one day because it will “eventually shut itself down” when it destroys the currency. Rather he will work to break the FED’s monopoly on issuing currency by legalizing sound money including gold and silver and repealing legal tender laws.
Paul returns to DC to assail Bernanke - The Hill's On The Money

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