Matt O'Brien, blogging at The Washington Post about Rand Paul's recent run of anti-Fed rhetoric:
He and others in the the GOP have, for years, brayed about high inflation that didn't exist and currency depreciation that wasn't happening, even taking the unprecedented step of publicly warning the Fed off its stimulus efforts, all while the real problems were too-low inflation, and, more recently, a stronger dollar that's put a crimp on the recovery. But despite this, Paul wants these people who have been, to put it charitably, wrong about everything to have more of a say against the ones who haven't. And it's all in the name of "transparency" that the Fed is already providing plenty of, which Paul would know if he actually read something about it anywhere other than the usual Austrian suspects. The worst part, though, is that we know what an economy with the kind of tight money that Republicans prefer looks like right now. It's called "Europe," and it has twice as much unemployment as we do. But hey, empirical evidence doesn't matter, right? Let them eat first principles!
Ron Paul was serious about this stuff, because he is right-wing nutball. With his kid Rand, it is a bit harder to tell whether he really buys this nonsense he is peddling, or if it just a cynical chumming of the water to excite the right-wing conspiracy crowd. He may not overtly rant about gold-buggery and Trilateralists plots to overthrow the Constitution, this business about the Fed is basically the same stuff, just cleaned up for a wider audience.
Either way, it's still nonsense.