Editor's Note - An important blast that few of you witnessed the first time around. Except that is for Dr. Galbraith himself, who posted this story prominently on the website for the Univ. of Texas LBJ School, where he serves as Chairman.
Video - Galbraith and Paul Discuss the Constitutionality of the Fed
Extraordinary discussion from today's hearings. Skip to the 3 minute mark if you're rushed for time. We've always known Galbraith to be a calm, calculated truth-teller, and he doesn't disappoint, even looking slightly possessed in this clip. His answer doesn't come until the 4:15 mark. He practically tells Paul that it's in their best interest and within the original charter, for Congress to change the funding agreement for the Fed. Watch his expressionless body as he emasculates the Fed with serene precision and then utters the most beautiful phrase of all:
- "And it seems to me that it would be the appropriate decision for Congress to make."
And then he repeats himself because that's what professional Fed killers do.
More from Galbraith at the same hearing.
Video: Opening statement from Dr. Galbraith