On Wednesday June 1, Ron Paul, the new House subcommittee Chair on Monetary Policy, held his first meeting on Fed transparency and oversight with the goal of eventually ending the Fed -- as has been his life's quest.
The one-hour meeting can be seen here - http://c-span.org/...
To summarize, the meeting was a spectacular dud. Only five members of the subcommittee bothered to show up to ask questions. The two Fed officials gave straightforward answers to all the questions citing Congressional mandate and long established facts on lending policy.
For example, when asked about foreign bank loans the officials cited law on treating US chartered banks all the same regardless where they are headquartered. It went on like that for the full hour - blah blah blah - no revelation, nothing, NADA, ZILCH.
The meeting was so bad that Dr. Paul asked a Democrat that had previously used his five minutes of questioning if he would like five MORE minutes!
So why diary this nothing-fest of a meeting? Because of the reaction of the Ron Paul REVolution! That is why!
See below for the fun - all comments posted to his fansite - the Daily Paul!
http://www.dailypaul.com/...
At first the lack of substance is due to a tactical strategy by the brilliant Dr. Paul --
Ron Paul is a wise man ... he does not make enemies with someone unless he has to. He does not make enemies with the man,but with the policy.It is a smarter way to fight policy.Ron Paul cannot simply make one swift move against the federal reserve when obviously the Federal Reserved board put those 2 clowns in a position to be strawmen
Then reality begins to set in --
completely PATHETIC .. Sorry guys, but if this is any indication. Ron Paul has NO CHANCE OF WINNING THE PRESIDENCY.
You do not make these bastards feel like apologisits, but PROSECUTE them. Accepting their half assed cover up is like the West negotiating with Hitler.
Never liked Karl Denninger attacking Ron Paul, but I'm begging to think he's right. Like the tea party, RP has no balls, and I'm very dissapointe to say this.
Then denial - because the last five minutes were on some Quixotic chase to find "missing gold" that does not exist.
i liked the last 5 or so minutes when Ron Paul really starts to go at them... but that's it. the rest was pretty awful
Then acceptance -- as the painful reality that there would be no REVolution.
That was painful to watch ... I was REALLY hoping for at least one gotcha moment that (sadly) never came.
Let me break it down...
Clay, Maloney and Green put on a pathetic display, fellating the Fed before allowing them to fellate themselves, hoping that would put an end to constituents constant and annoying inquiries about the Fed. And, once the suck-fest was over they skedaddled for a much needed smoke break.
Jones did little more than raise the point that people are waking up and are unhappy with the Fed. His ill-attempt to question the Feds favor to big business over the little guy fell flat.
Then full abandonment of ship -
I'm so pissed about this hearing that I disagree with you. Dr. Paul with all his knowledge and experience sounded like he was bemoaning and whining the question about Why not give the gold back to the people. I really expected more clout here.
More acknowledgement that their hero is a Zero -
Ron Paul went hungry this afternoon ... because Alvarez (of the Fed) ate his lunch. Absolutely pathetic performance by RP, babbling on and on in his opening statement after rightly noting that the hearing's time would be cut short, then asking (sort of) an ill-focused open-ended question about some obscure and esoteric minutia that Alvarez actually knew something about.
Then derision and sarcasm!
Oh yeah what a major win for us having Ron hold these hearings as the chairman. Such a game changer. He is really sticking it to the FED. NOT! >:(
Oh yeah! That is the REVolution for you!
I love it when Conspiracy Theories die.