Posting on the Ron Paul forum

[oldbookguy]

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Though I like Paul he is wrong on the Federal Reserve, regulating the value of money is also in the Constitution.
obg

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The federal reserve is a private bank. It has far more power then any private bank should.

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It is a private bank in the sense that it's chairman is only appointed by the president and approved by the senate, it then is not controlled by either.

Yes, it has loots of power and it does regulate the flow and value of money with no oversite, for a reason, so it will be one LESS thing congress via politics can screw up, though congress is charged with this duty, congress set up the FRRB as an a 'private' government owned bank.

See section 8 (odd number considering, never mind):
http://www.archives.gov/national-arc...ranscript.html

obg