Ron Paul Appointed Chairman of Domestic Monetary Policy Subcommittee

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Ron Paul has been appointed to head the Domestic Monetary Policy
Subcommittee of the House Financial Services Committee in the 112th
Congress. The subcommittee has jurisdiction over monetary policy,
currency, commodity prices, and matters related to the Federal Reserve
Bank generally.

Spencer Bachus, incoming Chairman of the Financial Services Committee,
announced Paul’s appointment today:

Paul has been a leading voice in Congress on the topics of monetary
policy and the Federal Reserve,” Bachus stated. “His commitment
to sound money and free-market principles will serve him well as
Chairman of the subcommittee.”

very pleased and excited about being named Chairman of the subcommittee,”
Paul stated. “I first ran for Congress in the 1970s because
I was concerned about inflation and the dollar. I believed then –
as I do now – that unchecked monetary expansion posed great risks
for the American economy and our standard of living. In the decades
since, we have seen how expansion of the money supply by the Federal
Reserve has eroded the value of our dollar. We also have seen how
the Federal Reserve, in concert with Congress, has enabled the Treasury
to incur almost unbelievable amounts of debt.”

Paul is well
known as the author of comprehensive legislation to audit the Federal
Reserve Bank, with the goal of providing both taxpayers and world
financial markets with full transparency of U.S. central bank actions.

As chairman,
Paul expects to hold regular hearings with Federal Reserve Bank
officials, including Federal Reserve Chairman Ben Bernanke. He also
plans to solicit testimony from prominent economists concerning
both monetary policy generally and Fed actions in particular.

the Ron Paul File

11, 2010

Dr. Ron
Paul is a Republican member of Congress from Texas.

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