Since his last run for president in 2012, Ron Paul has largely been out of the mainstream political spotlight. Other libertarians, including his son Rand Paul, have filled the void in his absence. That said, none have given the same attention to one of Ron Paul’s signature issues: The Federal Reserve. Auditing the Fed, and potentially abolishing it, has always been the elder Paul’s pet political issue. Now, it appears that three-time presidential candidate wants to govern the Fed instead. Campaign for Liberty is reportedly organizing support to encourage the Trump administration to appoint Ron Paul to the Federal Reserve Board of Governors.
Campaign for Liberty is the political organization that sprouted from Ron Paul’s 2008 presidential campaign. While they were once very active, as a liberty-oriented organization, they have faced more than their fair share of government intimidation and harassment over the years. This has undoubtedly contributed to their recent inactivity. Their most recent crusade involved opposing the IRS who demanded they release their donor file. Campaign for Liberty Chairman John Tate was also indicted by a Federal grand jury regarding 2012 FEC misappropriations but later acquitted of all charges.
Despite that, Campaign for Liberty does manage to take up principled fights every once in awhile. Lobbying the Trump administration to name Ron Paul to the Board Of Governors of the Federal Reserve will be one of their highest profile battles in awhile. Governors serve fourteen year staggered terms and are given an enormous amount of leeway when determining the Fed’s policies. They operate independently and aren’t held accountable to the President or to Congress. Ron Paul would have complete freedom to advocate for the policies he thinks the Fed should or shouldn’t pursue. In other words, it would be the most power, and power over the Fed, that Ron Paul has ever had.
Appointing Ron Paul to the Federal Reserve’s Board of Governors wouldn’t fall too far out of line with Trump’s nominations so far. Many of the major posts have gone to establishment Republicans while the smaller, lower-profile agencies are to be headed by conservatives and libertarians. Hopefully, this pattern will continue and the Trump team will consider Campaign for Liberty’s proposition. Throwing libertarians a bone and nominating Ron Paul to the Board of Governors would do much to drain the swamp and keep some of the campaign promises made by the new President.