Ron Paul, Bernanke's Worst Nightmare, Heading Fed Oversight Panel

In what has probably kept Ben Bernanke up in cold sweats since Republicans took control of the house, were fears nemesis Ron Paul would be named as head of the House subcommittee that oversees the Federal Reserve, and by extension, Bernanke.

Paul isn't going to waste any time in his new role, saying he's going to hit the ground running and have a plethora of hearings on U.S. monetary policy.

He added he's going to renew his effort to have the Federal Reserve undergo a full audit.

Jim Bunning, Senator from Kentucky, whose seat will be taken by Ron Paul's son Rand, said this, “Congress must act to rein in Chairman Bernanke and the Fed before they destroy our currency and permanently damage our economy and financial system. Public awareness of what the Fed is doing is increasing while public opinion of the Fed is falling.”

The Federal Reserve, which has largely received a free pass for decades as to its secretive actions and deals, can't be happy about the renewed interest and focus on them, which is a worst case scenario from their point of view.

Add Ron Paul, who has written a book called "End the Fed" to the mix, and things aren't going to be boring over the next several years concerning the Fed and the increasingly nervous and defensive Ben Bernanke.

Rand Paul Says U.S. Debt Unsustainable

In an interesting comment which is somehow being spun as being in agreement with Federal Reserve chaiman Ben Bernanke, Rand Paul said on "This Week" on ABC, that “We need to do something about it," referring to Bernanke saying in the past that U.S. "debt is unsustainable."

With many bankers and others on Wall Street uncomfortable with the negative exposure the Federal Reserve policies are getting, along with Bernanke's hand in them, it's strange to see Paul's agreeing to Bernanke's statement as construed sort of starting point to work with by some.

Rand Paul knows Bernanke is the problem, as the huge amount of debt the U.S. owes is largely from the hands of Bernanke and his attempt to stimulate the economy by printing money, which he's now calling "quantitative easing."

The idea has also been thrown around that Paul could have a chance at being seated on the Senate Banking Committee, which would no doubt quickly eliminate the idea he's in any way supportive of Bernanke and his policies.

Paul has called for spending cuts in a number of areas, including the military and other areas, understanding there's no way Washington can proceed doing business as usual.

Rand Paul Right on BP (NYSE:BP)

While all the liberals, progressives and socialists are out in force trying to use the tragic accident on the oil rig Deepwater Horizon as an excuse to bash BP (NYSE:BP), business and the oil industry, Rand Paul is one of the few voices of sanity calling out from the political wilderness that the response of their demi-god Obama in saying he's going to keep his foot on the throat of BP is inappropriate and "un-American," and he's right of course.

The attempt to bring and demand perfection in any human endeavor, no matter what type it is is ridiculous and unattainable, as any sane, healthy and honest person will admit. All that happens when government steps in in the way Obama has is to make things more expensive and harder to do, and usually the endless number of regulations will have unintended consequences which do more harm overall than good.

Big government-loving liberals, progressives and socialists are now using this as an attempt to derail Rand Paul's run to be the senator from Kentucky because they know he will be one of their worst political nightmares, like his dad Ron Paul is, because he'll vote against the majority of the policies which only grow government larger, destroy the moral fabric of the nation, and turn more and more toward socialism and crony capitalism than ever before in our history.

All they're trying to do is paint Paul as a kook, because these kooks don't want to be found out for what they are, and as the tactics they use dictate to them, they never want to waste a tragedy or incident to further and promote their agenda.

They also know Rand Paul is highly popular in Kentucky, and leads their Democratic opponent as much as he led and beat his Republican opponent in the primary.

This is just noise and sound bites they're throwing out in a way they hope the public will start to believe based on nothing else than repetition.

Rand Paul is right about BP. The response is way over the top by the Obama administration and his media lapdogs, and BP is doing everything they can to stop the oil leak and start to clean it up.

What these people are doing is taking the opportunity to make so much noise that the idea of continuing to drill offshore oil will be disallowed. That's not going to happen, but that's part of their agenda.

The other part of their agenda is the additional regulations which will inevitably come could cause the price of oil, and by extension, gasoline, to raise, that would give their environmental projects more of a chance to move forward, especially their alternative energy garbage, which isn't cost competitive, even at the high price of gas and oil today.

You know Rand Paul is hitting on the truth when you hear these socialists screaming and yelling over comments he makes which the majority of normal Americans like us, agree with him on.

Rand Paul on BP (NYSE:BP) Criticism from Obama

Rand Paul took a swipe at Obama for his outrageous verbal attack when he said he would put "his boot heel on the throat of BP." Paul called it "really un-American." Paul is right of course.

"What I don't like from the president's administration is this sort of, 'I'll put my boot heel on the throat of BP,'" Paul said in an interview with "Good Morning America." "I think that sounds really un-American in his criticism of business."

Paul's proper defense of BP comes is based on the fact that accidents happen, and when you think of those you propose endless regulations, thinking a rule or law can stop accidents from happening, are only fooling themselves.

There's always going to be accidents; that's part of being human and doing business.

BP, almost from the beginning, has said they're more than willing to pay for the damages, and they're working hard to take care of the incident, which has cost them millions in lost revenue, as well as millions more in cleanup costs.

So for Obama to say he will put his foot on the neck of the company is a lie, as it implies BP has been fighting taking responsibility for their part in the matter.

Paul said, "I think it's part of this sort of blame-game society in the sense that it's always got to be somebody's fault instead of the fact that maybe sometimes accidents happen."

Every time an accident happens, as Paul notes, especially in mining and drilling industries, it is attacked with a ferocity that is unwarranted, and points to an agenda by radical environmentalist and earth worshippers who are offended by the fact people need to use the commodities the produce to better their lives.

To demonize businesses who are providing much-needed products and services in dangerous situation and environments should be applauded, and how they respond practically to the circumstances should be how their judged, not because there's an accident.

It's good to see someone emerge like Rand Paul who has the courage to point out the obvious, and help rein in the ridiculous faux outrage of the mainstream media and Obama in their opposition to business.