Ron Paul vs. the Federal Reserve: four epic moments

Ron Paul hasn't been the Federal Reserve's only critic, but he ranks among the most consistent and persistent in his charge that the Fed has debased the dollar and destroyed the wealth of Americans.

3. Paul to Greenspan: What happens when the bubble bursts?

Paul opened questioning at a Feb. 17, 2000, hearing of the House Financial Services Committee by noting that Mr. Greenspan had not taken his "friendly advice" to look for other employment. "I'm pleased that you're back, though, because at least you remember the days of sound money and you have some respect for it, even though you do describe it as nostalgia," Paul said.

At the time, Greenspan, who served as chairman of the Federal Reserve from 1987 to 2006, was lionized by lawmakers on both sides of the aisle, who credited him with guiding the economy through a period of strong growth with minimal inflation. But Paul warned that it was all a bubble – a criticism others would take up after the housing and Wall Street crash in 2008. "I know Wall Street likes it and the economy likes it when the bubble is getting bigger, but my concern is what's going to happen when this bursts," he said.

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