Congressman Ron Paul will likely take over as chairman of the House’s monetary policy subcommittee. And he has some great ideas that could actually make a difference, says CNBC:
“I will approach that committee like no one has ever approached it because we’re living in times like no one has ever seen,” Paul said in an interview with NetNet Thursday.
Paul said his first priority will be to open up the books of the Federal Reserve to the American people.
“We need to create transparency there. To see what it is they are buying and lending, and who it is they are dealing with,” Paul said.
Paul mentioned that he hoped to use subcommittee hearings to educate the public about the causes of business cycles— which he believes are mainly attributable to monetary manipulation by central bankers.
Monetary reform is also on the agenda. Paul is a noted advocate of the gold standard.
“We will have to have monetary reform,” Paul said. “I think those on the other side of this issue are already planning. They are going to try to replace a bad system with an equally bad system.”
In addition, there’s growing noise about the Republicans supporting a balanced-budget amendment (be still, my heart!). Marco Rubio and Jim DeMint are both backing an amendment. Here’s Rubio discussing the need for it:
Balanced Budget Amendment: A Simple Way To Cut Spending
(thanks to Mike Shedlock)