Fed Will 'Self Destruct,' Policy 'Deeply Flawed': Ron Paul

The Federal Reserve is "self-destructing" through of its efforts to jump-start the US economy with more monetary easing, Rep. Ron Paul, (R-Texas), told CNBC Monday.

Paul said the Fed's decision last Wednesday to spend an additional $600 billion in quantitative easing—buying Treasurys to lower interest rates—won't work and will destroy the dollar's value around the world.