Texas Congressman Ron Paul will head the House subcommittee that oversees the Federal Reserve in 2011, has emphasized the Federal Reserve should be ended, but vowed to "think things through and not over-do things too soon."
He further states that he is more in favor of a transition. The Constitution says that the money supply is to be backed by gold and silver, and Paul just wants them to be a legal body.
"I’ll have plans for hearings to find out how much information we can get. Obviously it is very popular with the American people to audit the Fed, to know what they are doing." Paul said.
"They can spend trillions of dollars and we don’t know where it goes. They have a bigger budget, they spend more money than the Congress does, and yet we have no oversight. It was never intended that a secret body like this could create money out of thin air and spend it, take care of some banks and big business and foreign banks while the American people struggle." he said.
"If next week I issue a subpoena for such and such, I don’t think that would be met with a good acceptance,” Paul said. “And it’s not like I am a powerful person. My ideas are powerful but there is a committee chairman and a speaker of the House. I’m realistic and I know what that means. But I also know the strength of ideas and the power of ideas, and that’s what will prevail." the Congressman further stated.
How can anyone be against an audit of the Federal Reserve? Thus far, they have answered to no one, created money out of thin air and distributed it without any oversight, whatsoever. This is a very dangerous undertaking for anyone to attempt. You know the most powerful institution ever created doesn't want outsiders looking into how business has been conducted. We've seen what happened when a president wanted change from them. This is definitely, shark infested waters, and Ron Paul needs to keep a look, out for the Sonny Bono set-ups and the JFK reactions.
Friday, December 10, 2010
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