Ron pau rtexas, a member of the house financial services committee, at a hearing with federal reserve chairman ben bernanke, feb. During the same msnbc interview, he diagnosed the current situation brilliantly too much regulations to begin with, so they give it more. Ron paul first asked bernanke if he did his own grocery shopping, to which the fed chairman responded with a yes. Plunge protection, fiat money, and the fed by ron paul by ron paul digg this from the hearings on monetary policy and the state of the economy committee on financial services, the u. Ron paul hits ben bernanke at hearing, says fed has destroyed value of real money abc news. See more ideas about ron paul, politics and this or that questions. Ben shalom bernanke is an american economist at the brookings institution who served two. In one of the more revealing passages of his justpublished book the. House financial services committee meeting shortly after reports surfaced that the federal reserve was preparing for a third round of quantitative easing. Just because something has value even great value that doesnt make it money. The evidence congressman ron paul mentioned is well documented in my recent book, deception and abuse at the fed university of texas press. Ron paul hits ben bernanke at hearing, says fed has destroyed. Ron paul wins, bernanke loses as audit the fed bill is. The monetary writings of congressman ron paul paul, ron on.
The political positions of ron paul rtx, united states presidential candidate in 1988, 2008. Bernankes response actually couldnt have been much clearer. Ron paul is a former member of congress and distinguished counselor to the mises institute. In his 2015 book, the courage to act, bernanke revealed that he was no longer a republican, having.
To me, it is so astounding that it does not collapse the markets. Gop presidential contender takes issue with ben bernankes policies at the fed. Supposedly, fed chairman ben bernanke is an expert about the great depression. Gop presidential candidate ron paul took a break from campaigning today and diverted his attention back to his role on the house financial services committee with the semiannual visit of federal reserve chairman ben bernanke. Alabama moves to ban mutilating transgender surgery on kids. Ron paul, author of end the fed, to lead fed panel. Rand paul aide indicted on charges of hiding payments jesse benton, who was the campaign manager for ron paul, is accused of paying a former iowa state lawmaker for. Well, congressman, these specific allegations youve made i think are absolutely bizarre, and i have absolutely no knowledge of anything remotely like what you just described. During his tenure as chair, bernanke oversaw the federal reserves response to the late2000s financial crisis. Since 1995, carol paul has published the ron paul family cookbook, a collection of recipes she and her friends contributed, and which was sold in part to support ron paul s political campaigns. New jersey public schools to teach lgbt ideology in every subject.
The typical mainstream intermediate macroeconomics textbook defines inflation as an increase in the overall level of prices. Ron paul questioning ben bernanke at a house financial services. Ron paul loves gold, which probably wont come as that much of a surprise to the retired texas congressmans acolytes. Ron paul told bernanke that in 2006, as he took the top spot at the federal reserve, an ounce of silver bought about 4 gallons of gas. Bernanke, the chairman of the federal reserve, has been attacked for.
This week, writing for the daily caller, senator paul renewed his efforts, illustrating how the recent era of. A recent exchange between congressman ron paul and ben bernanke. Ron paul grills bernanke during the congressional joint economic committee hearing into the state of the u. Grand central publishing, 2009, 212 pages, hard cover. Ron paul, the new york post once wrote, is a politician who cannot be bought by special interests. I bought it a long time ago and havent read it again. It should not surprise anybody, but it is still astounding.
Recently there have appeared several videos of congressman ron paul pictured left confronting federal reserve chairman ben bernanke about inflation, a true definition of inflation and how the fed intends to drain inflation from the american economy. Ron paul put it this morning, when ben bernanke appeared before the house financial services committee. Bernanke and the central bank in the wake of the nov. In the postmeltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the federal reserve. Ron paul told bernanke that in 2006, as he took the top spot at the. Maybe not, if the congressman is the author of a book called end the fed. But in end the fed, ron paul draws on american history, economics, and fascinating stories from his own long political life to argue that the fed is both corrupt and unconstitutional. How rand paul can free americans from the fed mises. Ron paul has 61 books on goodreads with 50797 ratings. Ever since entering the senate, rand paul has continued his fathers work in advocating for an audit of the federal reserve. Texas congressman ron paul had an interesting exchange with fed chairman ben bernanke at the house financial services committee, calling on the fed to end what he believes are secretive ways. House of representatives july 20, 2006, washington, d. Simon johnson, the former chief economist at the international monetary fund, is the coauthor of bankers.
The man who wants to bring back the gold standard owns. Attacking government audits as a threat, bernanke came out in strong opposition to the federal reserve sunshine act of 2009, proposed by ron paul. Political snow job ron paul tells bernanke the truth. Most people think of the fed as an indispensable institution without which the countrys economy could not properly function. Bernankes father and uncle owned and managed a drugstore they purchased from bernankes. The internet brings us evermore information about freemarket thinking. Very few americans know that the fed is a privately owned bank operating for its. Powell benefited from a perception that the economys recovery from the 200708 meltdown proves that the fed is a capable manager of monetary policy.
Ron paul decides to school him on austrian economics. Ron paul retiring this year, his epic battles with federal reserve chairmen are. I found the book to be a relatively easy read, but found myself often stopping to think about what was proposed, so it took a bit longer to get through than expected. In a scathing opening statement, paul went on the offensive against the fed. Ben bernanke, ron paul debate dollars definition real. Pauls assignment comes as the republican party has stepped up attacks on fed chairman ben s.
But how much the former presidential candidate loves the yellow metal could. But in end the fed, ron paul draws on american history. Economists of the austrian school of economics define inflation differently than much of the mainstream of the economics profession. I have a question dealing with the working group on financial. There are few people in public life who, through thick and thin, rain or shine, stick to their principles, added a congressional colleague. Paul immediately cut him off and said no one believes the 2% inflation rate. Ron paul i dont doubt that bernankes opponent is sincere in. His 2009 bestselling book, end the fed, quotes patmans lecture and then adds, i. In all of modern american politics, there is perhaps no. I see a really, really smart economist responding to ron paul the same way you. Gop presidential contender takes issue with ben bernanke s policies at the fed.
Ron paul hits ben bernanke at hearing, says fed has destroyed value of real money duration. His purpose is to inspire serious, critical, and independent thinking. Barrick gold, g new york city subway service, goldcorp, investment, nem, newmont mining corporation, peter schiff, ron paul leave a comment october 19. My book about paul, with much more on his fight against the fed, will be. End the fed is, simply put, a mustread for every american who can spell his name. Ron paul understands that the federal reserve is at the very heart of americas financial problems. The texas congressman had an impressive showing in the iowa caucuses on tuesday and his poll numbers elsewhere are resilient he is running a strong third among republicans nationally and is currently second in. Ron paul wins, bernanke loses as audit the fed bill is approved overwhelmingly the vote was 32798. Ron paul should learn from bernankes heroism the motley. Paul and his wife currently reside in lake jackson, texas. Read this book and work to end the central economic and political evil in america, the central bank that fuels recessions and depressions, the warfare state, the redistributionist state, and the police state. In a rare bipartisan consensus, and definitely without the expressed, written consent of the bernank, the house today overwhelmingly approved ron pauls bill h. While i dont agree with all of ron pauls views, the man makes an interesting case for a new monetaryeconomic system in end the fed. His life and career is the subject of the 2012 film ron paul uprising.
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