WSJ: Dr. Ron Paul's Golden OpportunitySubmitted by Dave7 on Wed, 11/17/2010 - 20:59
Who better to host the debate over sound money in Congress than the Fed's most persistent critic?
By Seth Lipsky | November 17, 2010
Wall Street Journal
One of the most exciting features of the new Congress is the prospect that the chairmanship of a House subcommittee that oversees the Federal Reserve will go to Ron Paul. Final assignments are still being worked out, and the leadership may yet shy away from giving the position to a congressman who doesn't believe the Fed should exist. But Dr. Paul, an obstetrician, has been the ranking Republican of the Domestic Monetary Policy and Technology subcommittee, and tradition suggests he will be the next chairman.
This couldn't come at a more timely moment, though Dr. Paul has been working his way up to the assignment for more than a generation.
I first met the congressman nearly 30 years ago, back when the physician-turned-legislator was emerging on the national scene as a member of the United States Gold Commission. The commission had been formed at the start of the Reagan administration to consider whether America, in the wake of the collapse of Bretton Woods, should move to sound money.
In the event, the committee recoiled from reform. But Dr. Paul wrote a dissent that made the case for gold and is still being read today.
Continued at: The Wall Street Journal