Ron Paul Opening Statement Fed Hearing
(R-Tx) Congressman Ron Paul, an outspoken critic of Federal Reserve Board, appeared on MSNBC’s “Morning Meeting” with Dylan Ratigan earlier today. In his opening segment Ratigan points out the central bank’s proven inability and unreliability (at best) at monitoring the financial markets that resulted in an unprecedented financial crisis. Ratigan also said the politicians who are bought and paid by the banking industry are trying to protect the secrecy of the Federal Reserve which is hiding the secrets of the banking system, hence the effort to impede Ron Paul’s HR1207 bill that proposes to reform the manner in which the Board of Governors of the Federal Reserve System is audited. According to congressman Paul, the Fed works in collusion with the big banks and represents their interest. The arguments to audit Fed are very strong, said Paul, and we have a right to know what the Fed did, why and for whom.
