For those of you younger people that maybe don't know who Paul Volcker is:
* From Wikipedia *
Paul Adolph Volcker (born September 5, 1927) is an American economist. He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama
Ron Paul questions Paul Volcker during the Joint Economic Committee.
There isn't too much time in this and Volcker goes into more rhetoric than actually giving an answer or two to things but:
Volcker mentions " Economists thought being on a Fiat currency WAS a good idea.