Ron Paul Audio Interview

The congressman talks with the Economist about the Fed, Bruno, and more.

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The Economist has an audio interview with Ron Paul that hits on many of the same points that I interviewed him about recently (see my Q&A here.) For example, he talks about the system of commodity money with which he'd like to replace the Federal Reserve.

Mr Paul also argues, "If you didn't have the Federal Reserve, you could pull out a certificate that says 'one ounce of gold' or 'one ounce of silver', and pay with that."

And even more interestingly, Paul even weighs in on his appearance in the hit comedy Bruno!

On a more serious note, the interviewer raises the most powerful objection to Paul's proposal of auditing the Fed: wouldn't that have the perverse effect of making the Fed more politically pliable? Paul's response is that it is already political. That's not a great response to those who want to keep the Fed's political independence to the greatest level possible.  But if you don't think the Fed should exist at all, that objection isn't very relevant.