As you may have heard, Representative Ron Paul, whose most passionate cause is abolishing the Fed, has been chosen to run the House's subcommittee that oversees the Federal Reserve next year. And while one should never jump to conclusions about the intentions of others, based on the fact that Paul has previously introduced legislation to get rid of the thing, wrote a book called "End The Fed," and, odds are, has 'Federal Reserve' at the top of the To Kill list posted to a wall in his basement, one might (involuntarily) draw some. Well, you couldn't be more off base. Ron Paul loves the Fed! And he's going to let it live a little while longer, unless Ben Bernanke really pisses him off, in which case, you're finished.
Paul, a Texas Republican who next month will take control of the House subcommittee that oversees the Federal Reserve, said today that he will “not really, not right up front” push for an end to the U.S. central bank. “But obviously that’s the implication,” Paul said in a Bloomberg Television interview on “In the Loop” with Betty Liu. Paul said he was talking about a “transition.”