Apparently, Rep. Ron Paul has decided he no longer needs to try to eliminate the Federal Reserve Board. He'd much rather compel them to keep spending taxpayer money printing a report that no one uses. Kash at Angry Bear has the details.
Posted by Charles Kuffner on March 10, 2006 to National news | TrackBackThe argument for eliminating the M3 reporting seems to be that it's largely redundant, and M2 reporting will suffice.
Not everyone agrees on that. To wit, see this:
http://www.capitalspectator.com/archives/2006/01/m3--the_finals.html
I'm not into the conspiracy theories on this issue and I'm certainly not a LewRockwellian, but characterizing monetarists and other folks who want to keep M3 reporting as conspiracy nuts is rhetorical overreach that is difficult to take seriously.
Posted by: Kevin Whited on March 10, 2006 10:42 AMSo a Congressman is trying to use his position to force his views on a science (economics) onto actual economists? Why, that's totally unprecedented! Except of course for evolution, global warming, the Big Bang, sex ed, etc., etc.
Posted by: Mathwiz on March 10, 2006 2:35 PM