March 10, 2006
Ron Paul has found his purpose in Congress
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
The 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:
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.
So 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.