Rep. Paul Ryan Mentions SMP During Interview
On January 5th, 2010, Rep. Paul Ryan, House Budget Committee Chairman, during an interview with Hugh Hewitt, outlined his plans and strategies on how to curb government spending and other budgetary reforms. He also addressed other policy challenges, including monetary policy, mentioning during the interview Judy Shelton’s “A Guide to Sound Money,” as key to understanding sound money.
PR: You know, I don’t know if people really understand monetary policy that much around here. It’s my first policy love. I was Jack Kemp’s staff economics guy, so I used to work on this stuff in the 90s quite a bit. There are a lot of people who do believe that you can just print your money, print your way out of this, monetize the debt, that they think they can just sort of drive the car between the pylons of inflation and hyper-inflation, and basically debase the currency out of it. Let me just say this. There is nothing more insidious that a government can do to its people than to debase its currency. We already have fiat money, which is a systematic replacement of the rule of law by the rule of man, meaning the Federal Reserve. Now I’ve got legislation putting the Federal Reserve back in its box, getting it focused on price stability, ending the dual mandate, and getting rid of all this Phillips curve dogma that has given us this kind of uber-discretion by the Federal Reserve. It’s a mistake. We’ve got to fix it. We need sound money. Go to the www.soundmoneyproject.org, and you can read a great thing by Judy Shelton that explains all of this.
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