My Faith is Restored in Ron Paul

While I am in favor of clipping the Federal Reserve's wings, limiting its scope to monetary issues, and taking regulation largely out of their hands, along with reducing the role of private banks in staffing the boards of the regional Fed banks, Ron Paul just went off the rails again, arguing that the Federal Reserve is an illegal cartel:

Rep. Ron Paul, (R-Texas), who will head a subcommittee overseeing the Federal Reserve in the new Congress, called the central bank a “cartel” and said it had “monopoly control” over the US dollar. “I think we should start ending the Fed by allowing competition. I don’t like the idea that they have monopoly control. It’s a cartel: They get to print the money,” said Paul, who wrote a book called End the Fed.

Paul said that he wanted to “legalize competition,” so that Americans can use gold and silver as legal tender.

The idea that the government, which is what the Federal Reserve is, in a completely f%$#ed up kind of way, should not have a monopoly on the idea of coining money is completely nuts.

I am so over agreeing with him yesterday.

The world is back to normal, though I do rather relish the idea of seeing Dr. Paul grill Bernanke on CSPAN.