2009: Ron Paul Slams The Fed

Responding to the Obama administrations new regulatory reform plan, which will officially hand the Federal Reserve complete dictatorial control over the U.S. economy, Congressman Ron Paul told MSNBC that the Fed was now more powerful than Congress.

Paul emphasized that no amount of regulation could compensate for a financial system created and controlled by the Federal Reserve that was completely unstable to begin with.

The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we dont even have any transparency of this. Theyre more powerful than the Congress, said Paul.

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