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Thursday, December 9, 2010

Will Ron Paul Get The Monetary Policy Subcommittee Chair?

In January, the Republicans will be a majority in the House. Every committee chairman switches from being a Democrat to a Republican.

There's a subcommittee that oversees Federal Reserve monetary policy. Normally, that subcommittee deals with trivial things like commemorative coin designs. They don't grill Ben Bernanke much. Ron Paul is the most senior Republican on that subcommittee. He is scheduled to become chairman.

The Republicans could use a parliamentary trick to cheat Ron Paul. They could move a more senior Republican to that subcommittee and make him chairman. They could shuffle subcommittee responsibilities. They could deviate from tradition and nominate someone else to become subcommittee chairman. Normally, the most senior (longest-serving) Congressman on a committee gets to be chairman.

Being a Congressman is a lot like World of Warcraft. Your influence is based on how long you're a Congressman. In World of Warcraft, your character's power is based on how long you've been playing. A Congressman's influence is based on "time in Congress" and not his actual ability.

It seems that Ron Paul will get that subcommittee chair. It would be amusing, to see him grilling Ben Bernanke. Normally, when Ron Paul interrogates Ben Bernanke in committee meetings, CNBC cuts to a commercial.

I'm noticing a lot more anti-Federal Reserve opinions. It's on many blogs. It's even showing up on more mainstream websites. Some Congressmen other than Ron Paul are criticizing the Federal Reserve.

I'll review the anti-Federal Reserve arguments. The Federal Reserve is one big price-fixing cartel. By keeping interest rates artificially low compared to true inflation, the Federal Reserve subsidizes banks and large corporations. Via the Compound Interest Paradox, everyone is enslaved under a crushing debt burden. Inflation steals from productive workers, giving the profits to the banksters and other insiders. Inflation benefits insiders who print and spend the brand-new money. The Federal Reserve's operations aren't free. Everyone else pays the cost via inflation.

I've never seen the mainstream media criticize the Federal Reserve as accurately as I have. A detailed criticism of the Federal Reserve is more subversive than anything Wikileaks will ever publish.

It seems that Ron Paul will get the Federal Reserve subcommittee chair. I'm noticing more anti-Federal Reserve sentiment. The full truth still isn't published in the mainstream media.

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