VIDEO: Rand Paul Confronts Geithner Over Fed Monetary Price Fixing

Senator Rand Paul, son of famous libertarian father Congressman Ron Paul, recently had a very interesting discussion with Treasury Secretary Timothy Geithner over Federal Reserve policy. You can see it reproduced below in this video.

Part of the reason that this video hasn't gotten more attention in libertarian circles is because Geithner, at the end, seems to have an effective comeback to Rand Paul's criticisms.

From our point of view, this back-and-forth illustrates three things:

• First, Rand Paul's heart is in the right place in taking on this battle over the Fed's legally granted money monopoly.

• Second, if one is to argue against a money monopoly, one had best be prepared to face arguments of the most devious kind of sophistry, such as those employed by Geithner in defense of the Fed.

• Third, the conversation between the two men shows the difficult of discussing a subject like monetary policy in soundbites.

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