Ron Paul names his pick for Federal Reserve chairman

Republican presidential candidate and Texas Congressman Ron Paul, a vocal critic of the Federal Reserve, dropped a potential name for chairman of the Fed on Wednesday evening.

During the online portion of Fox News’ “Special Report with Brett Baier,” Paul said that he would “probably” pick economist Jim Grant, editor of Grant’s Interest Rate Observer, for the position.

The question was posed by Stephen Hayes of The Weekly Standard, who noted that Paul would be unable to immediately abolish the Federal Reserve.

“He’s an Austrian economist, he has experience on Wall Street, he’s brilliant, he’s a good historian,” Paul said of Grant. “He would quit printing money.”
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Here is an interesting video on Bloomberg with Jim Grant regarding the European Central Bank's response to the sovereign-debt crisis, ECB policy, Fed policy, central bank printing, and farmland.

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