Ron Paul To Chair Monetary Policy Subcommittee

Tyler Durden's picture

Here is why an open-ended QE2 may be a very moot point: Slate reports that Ron Paul, Ben Bernanke's greatest nemesis, will chair the all important monetary policy subcommittee. In other words, Bernanke v Paul theater will soon be a weekly feature. Too bad Alan Grayson will be no longer present.

And now back to the popcorn.

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buzzsaw99's picture

Bernanke to Obama: We have a turd in the punchbowl. Repeat. We have turd in the punchbowl. Over.

dlmaniac's picture

If only Grayson could have stayed focused on what's important rather than talking the "Republicans want you to die fast" nonsense, he could be helpful in the Congress. Then again there's Rand Paul to form a double-whammy on Bernanke. Not too bad.

calltoaccount's picture

He meant the guys who own the republicans-- and the health care companies.  They're the ones care only about more profit for themselves and fk everyone else.

AmericaRacket's picture

He should have said that.

He also should have distinguished between evil HMOs and opponents of the American Socialism/Health Fraud Bill.

LowProfile's picture

He's a perfect example of what happens when you put party ahead of principle.  These issues are too important, voters are paying attention.

curbyourrisk's picture

Obama to Bernanke.....


Remember that guy Vince Foster...... Chicaog politics will come in handy here.


I got this....

ZakuKommander's picture

Hilarity is certain to ensue.

Ivanovich's picture

I called Paul's office a week ago and confirmed this.  Nice, isn't it? 


I'd recommend everyone calling his office (I called the Washington one, but he's got three others) and stress how important it is that Dr. Paul treat Ben to a whipping and get this beast under control.  It can't hurt, and Dr. Paul's staff always likes to hear from folks about it.

Confused's picture

Thats nice to hear. Because I'd really like to think that Ron Paul is a good person. But its so hard to believe in anything/anyone anymore. 

e_goldstein's picture

Ron Paul is an excellent statesman...

and a better politician than most give him credit for.

still, gotta horrible feeling that it's too little too late.

LowProfile's picture

It's clear Dr. Paul doesn't need to be told how to handle Fed.

I do think he would appreciate us sending him a note of encouragement.

Turd Ferguson's picture

Now THAT will be fun to watch.

WineSorbet's picture

My popcorn has government butter drizzled all over it.

TheGoodDoctor's picture

I hope you got some guns with that butter too! :p

traderjoe's picture

I'd like to think this meant something, but it probably won't. That pessimism being said, there certainly has been more awareness of the Fed's role in the economy lately. 

Cognitive Dissonance's picture

I'd like to think this meant something, but it probably won't.

I suspect you're correct.

While the illusion is that the monetary policy subcommittee is very powerful, mostly because we're told it's very powerful and it's members believe they are powerful, the real powers that be don't need the consent of a room full of men and women to do what it wishes to do. We believe Ron Paul can make a difference because we are allowed to believe this.

The true power comes from within folks. We deny this so we don't need to do anything about it. This can all change the moment we decide to change it.

Manbarepig's picture

Very simple, keep your friends close and your enemies closer. TPTB now have a front row seat to Ron Paul's actions and can premptivelty head off any anti-FED/PTB activity.

Fearless Rick's picture

Since nobody around here has the balls to challenge your commentary, I suppose it's my duty (a la Fight Club... I'll only use my right hand against you, punk) to comment on your comment.

While it's true that the congress is somewhat powerless to dictate or influence Fed policy, Ron Paul's presence at least provides good theater and an impetus to action, therefore he does have power, somewhat along the lines of the "force" in Star Wars.

Your contention, "We believe Ron Paul can make a difference because we are allowed to believe this.

" is false. We believe Ron Paul can make a difference because with the power of 100 million Americans behind him, he can actually make a difference.

All your crap about the "conditioned mind" is so much psychological masturbation. You like to think of yourself as smart or even smarter than the rest, or possessing of a non-conditioned mind, when the reality is that you're as conditioned by your belief in psychology that you are conditioned entirely by it.

And, no, I haven't read your papers. I don't need to spend another hour poring over your fluff in order to ascertain that your concepts are 1. Bullshit, created out of thin air with no scientific backing, and 2. producing of no positive benefit to anybody.

You're an intelligent guy. I can see that. Surely you can do better than to keep harping on the same old crap. Be original. Meditate. Understand Karma. Live long and prosper.

TheGoodDoctor's picture

Basically Ron Paul will have all these sound bites to use on the presidential campaign trail in 2012.

loup garou's picture

Fearless Rick,

The guy has very serious mental problems. (Among them, paranoid schizophrenia.) Alienation has only served to aggravate these problems, as his own family and friends will not allow him into their homes unless he promises to keep his bizarre delusions to himself. (This is why so many of these types of individuals spend such an inordinate amount of time on the internet.)
Some time ago, I advised him to seek professional treatment. But apparently, he is either unable or unwilling (denial) to face the reality of his condition; and, in fact, he often projects his own imbalances onto others. This is quite typical.
Unfortunately, these situations often have very unhappy endings. Because he appears to derive his entire sense of self-esteem from his participation at this site, the best course of action is probably to join the crowd and humor him.

Rick64's picture

 Fearless Rick

  Most people will be unaware of Ron Paul's prescence unless the mainstream media sees fit to televise it. How many people watch CSPAN? Many people can't even identify prominent politicians. Ron Paul can make a difference if people support him and are aware of his actions. The conditioned mind of the common man isn't going to make any changes to his thinking without breaking away from the influences that caused his lethargic state.

And, no, I haven't read your papers. I don't need to spend another hour poring over your fluff in order to ascertain that your concepts are 1. Bullshit, created out of thin air with no scientific backing

 How can you refute something you haven't even bothered to read? You say understand Karma, but is this backed by science?


i-dog's picture

"We believe Ron Paul can make a difference because we are allowed to believe this."

I agree.

I can't believe all the false hope in this coming 112th Congress undoing all the destructive actions of the previous 111 Congresses! Nothing will change in this gridlocked Congress (Republican House, Democrat Senate, Elite Captive President). What a sick fucking joke!

If either Ron Paul or Rand Paul take any stands to limit spending or hobble the Fed in 2011, they will be blamed by the media, and therefore the public, for creating the Global Financial Crisis!

TheGoodDoctor's picture

They can try but the American people are getting restless. They are not as stupid as the MSM make them out to be.

You could tell the clowns at MSNBC were out to nail Rand Paul already. All they have is fear and talking points. Unfortunately truth trumps that shit.

If anyone listens to the Pauls they will realize that the Global Financial Crisis will have been created by the Federal Reserve and the fucking banks.

All they have to say is "How can more debt get us out of debt?"

Eman Laer's picture

Things are already noticeably different in this country due to Ron Paul's efforts. This recent development will only increase the positive effect he has already had. 

I mostly agree with you in terms of policy which may change very little in the near future, but policy isn't the only consideration. The consciousness of the electorate must change before we'll see substantial policy change, and Ron Paul is a great person for that task.

I'm very excited about having a brave and honest statesman in Paul's position.



Rick64's picture

 A political maneuver.

Hugh_Jorgan's picture

Yeah, but I don't think it means nothing either. There is a lot of harrassment that Ron Paul can inflict and facilitate on the Fed, which will be interesting. A smoking gun may be in there as well. Benny-Boy has been pretty sloppy over the past 24 months. Paul and Co. will need to be able to explain the nature of the corruption, which is no mean feat. I think the the number 2 or 3 fastest way to get a the average person's eyes to glaze over is to inject the words "Federal Reserve Bank" into any conversation...

GoatETF's picture

If RP can motivate people in the U.S. to take action on financial issues the same as he has on political issues (r3volution anyone?) we will see some changes a comin'. 

calltoaccount's picture

“The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies, all who question its methods or throw light upon its crimes… As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money powers of the country will endeavor to prolong it’s reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.” – Abraham Lincoln


What Ron Paul will be up against:

Exposing Our Enemy - Meet the Economic Elite

A Nanny Moose's picture

Even if it does, there is always the golden rule. He who makes the gold, makes the rules.




schoolsout's picture

I predict that when all the worms are finally out of the can and markets/everything crashes because Bernanke's hands get tied, the people will blame Ron Paul for causing this "horror" on the nation.

Don't get me wrong, I'm a supporter of Ron Paul and very much want the shenanigans to stop, but the people seem content (because they can't see the collapse of our currency coming down the pipe) and if the money spigot is turned off, things will happen much faster and will look like people like Ron Paul caused it.


America is just that dumb...

I hope I'm wrong, though

AbandonShip's picture

100% agree. Someone (Dr. Paul) needs to be the brave martyr and turn off the morphine drip so we can realize how broken things really are and make some tough decisions. I think Dr. Paul would like to play this role based on his readings and that he never cared too much about his public image.

cdude's picture

"....because Bernanke's hands get tied,..."

With all the new (yet to be defined) discretionary powers given to the Fed via FinReg, I would think it would be the subcommitie's hands that would be tied.

A Nanny Moose's picture

My thoughts exactly, and why we need an audit...a thorough audit.

Liquidity get's yanked in 3...2...1

Wynn's picture

How's that Fed audit coming along?

High Plains Drifter's picture

I predict there will never ever be a audit of the FED.

ATG's picture

Facebook did not help; maybe it was the dictionary

Florida Democrat Alan Grayson had 30,000 to opponent Daniel Webster's 4,600 fans.


Henry Chinaski's picture

Grayson's civil servant supporters may have more time for facebook than the people who have to go out and produce a profit to earn a living.

SteveNYC's picture

I'd like to see Paul give Bernanke some Texas-style justice......

DarkMath's picture

Dana Carvey as Ron Paul dishing out Texas justice to Ben Bernanke: I wouldn't kill him right away. That'd be too easy. I'd wait for a hot Texas day, see? Tie him to a stake, get an ant trail going. You know, Texas red ants, inch long! Just love to bite into human flesh, catch what I'm saying here? See, they're eating him alive, nice and slow like. And I'd sit with him in the shade under an umbrella, maybe with a lemonade, sit back and say to the fella, "How do you like them apples?" And he'll be screaming, "When am I gonna die?" and I'd say, "I don't know exactly, and frankly, I resent your question." Catch my drift?

ThreeTrees's picture

Ooooh shit!  There's an Austrian in the Benhouse!


Can Paul hire outside consultants?  Get Robert Murphy up in that hizzay.  Get to work Americans!

geminiRX's picture

This is the best piece of economic news I have heard in 3 years.

fasTTcar's picture

Dang, I was hoping gold would still have more to run.

If he has any say whatsoever, we may actually see a reigning in of the monetary misogyny.

Clark_Griswold Hedge Mnger's picture

ain't that a bitch slap before Bennie's big annoucement.

LOL oh this is gona be good,  Think I'll be making a donation to Dr. Paul's security detail soon.

Shameful's picture

Sadly I know how this will go. Zimbabwe Ben will just sit up there and not give any answers. Either a solid "I don't know", or "It would damage confidence if I was to reveal that information". I expect a lot of stonewalling. Still glad to see Paul up there so we can have a lot of footage of Ben shining the congress on. Hopefully this will spur an actually passage of a real Fed audit and force Barry to veto it.

Bigger Dickus's picture

Equity selloff in 3, 2, 1,...

intraday-wizard's picture

if they print a trillion today it must only be the start sell dollar, but if only a few 100 yards qe2 is the end of unconventional measures so buy the dollar.