Rep. Ron Paul on US Economic Awareness

U.S. Rep. Ron Paul, R-Texas, was able to read aloud for the cameras some of his prepared statement at the Feb. 15 meeting of the House Financial Services Committee. He also spoke before Federal Reserve Chairman Ben Bernanke.

Ron Paul is seeking the Republican nomination for president in 2008. He cites that the Fed should:

Begin publishing the M3 statistics again. Let us see the numbers that most accurately reveal how much new money the Fed is pumping into the world economy.

Tell us exactly what the President’s Working Group on Financial Markets does and why.

Explain how interest rates are set. Conservatives profess to support free markets, without wage and price controls. Yet the most important price of all, the price of money as determined by interest rates, is set arbitrarily in secret by the Fed rather than by markets! Why is this policy written in stone? Why is there no congressional input at least?

Change legal tender laws to allow constitutional legal tender (commodity money) to compete domestically with the dollar.

His full speech can be found here.

Sources:
GATA
February 21, 2007
http://www.gata.com

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