Today while he questioned Fed Chair Ben Bernanke Paul turned on his Crazy overdrive and made some absolutely batty allegations about the fed, including accusing them of participating in the Watergate Scandal.
According to the Hill:
Paul, a libertarian Republican who opposes the Fed, said that the Fed issued a $5.5 billion loan to Saddam Hussein's regime to buy U.S. weapons during the Iran-Iraq War.
"It has been reported in the past that in the 1980s, the Fed facilitated a $5.5 billion to Saddam Hussein and he then bought weapons from our military industrial complex," he said.
He also said that cash used in the Watergate scandal "came through" the Fed.
Paul made his remarks in support of his effort to audit the Fed's monetary activity.
"Well, congressman, these specific allegations you've made, I think are absolutely bizarre and I have absolutely no knowledge of anything like what you've just described," Bernanke replied.
The problem with Ron Paul is that many of his ideas such as auditing the fed are perfectly legitimate. But then he blurts out out something like the fed was involved in Watergate or Lincoln was wrong to go to war to free the slaves, or its found out that he published a bigoted newsletter (which he claims he never read), we forget his good Ideas and only remember that too often the guy acts as if he is from a different galaxy. The part that is really scary is I am not entirely convinced that it is an act.
A reader sent me this great comment on Ron Paul that explains his appeal.
The fact that people are attracted to Ron Paul because of his adherence to the Constitution, speaks well of our founding document.
The fact that people are attracted to Paul, even with his rabid isolationism and wackadoo foreign policies speaks ill of our ability to field good candidates who strongly uphold our Constitution.