Wednesday, December 02, 2009
Rep. Ron Paul (R-Texas) talks with Larry Kudlow and former ITC chief economist Peter Morici about the role of the Federal Reserve in the U.S. economy and efforts to audit it (or, as discussed in Paul's latest book, to end it).
Larry's opening comment sets the tone: "Article 1, Section 8 of the U.S. Constitution gives an enumerated monetary power to Congress and I quote, 'To coin money and regulate the value thereof'. Ron Paul, I don't think the Fed has done a very good job of regulating the value thereof. Is that behind your thinking?"