One of the most eagerly awaited developments in 2011 for certain fiscal conservatives is the appointment of Ron Paul to head the House's subcommittee on monetary policy. Paul is extremely libertarian and in many ways for a few decades represented a large part of what the Tea Party has tried to grab hold of lately. After being a 'lone wolf' for a long time, suddenly quite a few are coming around to his way of thinking. With most politicians being attorneys and having little to no economic training or knowledge (with sometimes embarrassingly vacant questions during these hearings), Paul's commentary during any Fed hearing is always compelling, but having the gavel should make for 'must watch' TV. Anyone who has written a book called End the Fed - and who then has oversight over the organization, certainly is going to create some interesting moments - although I am still doubtful much will change; too many powerful interests demand the status quo.
Ron Paul was on CNBC yesterday and the opening line of the questioning explains in a nutshell why we're going to have some fun video in 2011.
Maria B: So you've written a book titled 'End the Fed'. Do you still want to eliminate the Federal Reserve?
Paul: Oh sure, but I think the Fed will end itself before I'm able to do it.
8 minute video