February 22nd, 2010
10:38 AM ET

Ron Paul's money plan is far from golden

[cnn-photo-caption image=http://i.cdn.turner.com/cnn/2009/OPINION/10/30/ron.paul.fed/story.ron.paul.gi.jpg caption="Ron Paul-style themes have spread through the conservative movement since his 2008 presidential campaign." width=300 height=169]

David Frum
CNN Contributor

A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar.

The Fed's actions, combined with the federal government's bailout bills and stimulus packages, have struck a nerve in the American people.

Recent polls have shown that more than 75 percent of Americans support efforts to audit the Fed, something which my bill, HR 1207, the Federal Reserve Transparency Act, aims to do. HR 1207 has the support of 304 members of Congress, and the Senate version of the bill, S. 604, is supported by 31 U.S. senators.

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Filed under: Economy • Republicans • Ron Paul
soundoff (2 Responses)
  1. Mike in NYC

    RP must be hitting home big time for Frum to waste no time in misrepresenting his views. He advocates competing currencies, not a simple gold standard.

    It's his foreign policy outlook that really has them scared, so they're painting his unorthodox domestic policy prescriptions as kooky in an attempt to take down the whole Paul package.

    February 22, 2010 at 12:02 pm |
  2. Tim Gibson

    Regardless of standards as it applied to gold. It is clear our government cannot continue to grow and expand on debt. To raise the ceiling on the credit limit each time it is hit in the same behavior that got us into this crisis. As some states hang on collapse from debt and overspending you cannot overlook the fact that a sinking boat cannot be bailed out when you continue to add water as fast as it is bailed.

    In my opinion the Federal Reserve must be audited or shut down until further notice pending an investigation by the people, not a white house appointed commission.

    February 22, 2010 at 10:49 am |