Ron Paul’s First Subcommittee Hearing: Can Monetary Policy Really Create Jobs?




This is the first hearing held by Dr. Ron Paul as Chairman of the Domestic Monetary Policy and Technology subcommittee, which, among its other duties, oversees the Federal Reserve.

Date: 02/09/2011
Video by minnesotachris – thanks!

Anyone knows how to fix the audio? We tried almost everything but didn’t get any significant improvement. If you have any ideas please post a comment or contact us.



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186 Comments:

  1. When I hear that Government can create jobs.
    It reminds me of the old protection racket. Will make a mess out of your life then charge you for it.
    Then will hire some to over see you pay for it. Will hire someone to make sure after it is cleaned up some what. It gets screwed up more the next time. So now we can hire a crew.

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  2. When I hear that Government can create jobs.
    It reminds me of the old protection racket. Will make a mess out of yor life then charge you for it.
    Then will hire some to over see you pay for it. Will hire someone to make after sure that after. It is cleaned up some what. It gets screwed up more the next time. So now we can hire a crew.

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  3. It is realy somthing when some one is allowed to print up a bunch of worthless paper,
    “money”.
    Then charge everyone for the use of it. Then tell everyone if you don’t pay. Your property could be confiscated and you could be Jailed.
    The sad thing is the amount of people who have been duped into excepting this as being some kind of fact of life. “Death and taxes”. P. T. Barnum may have been more right. When he made the statement.”There is a sucker born every minuet”.

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  4. seemed to me this panel was pretty ignorant with exception to mr. paul. at least the guy from arizona and north carolina were humble and admitted it. why aren’t these panels composed of people with real interest in monetary policy?

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  5. aggregate demand that he wants to restore was all a Fed inflated illusion to start with. Consumer behavior was distorted by the Fed generated bubble and collapsed with the bust. Now he says the solution is “create the illusion again” so consumer spending will return to its previously unsustainable levels.

    I don’t think that’s very good long-term policy. Consumer spending and business investment trends should be determined by real economic and market conditions, not Fed-generated illusions.

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  6. fuck you, clay!

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  7. He’s bright compared to Rep. Green though. The FDIC is not to help the banks out. It’s supposed to be to protect depositors. Why should AIG expect a bailout after being paid to insure assets that it could not insure? They were happy to take profits when there weren’t claims. If I go to the casino and I win, I get to keep the profits, but if I lose, I guess someone should “bail out” my losses. That would not teach me a lesson about risk.

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  8. This Tucker Carlson wannabe is a waste of space. He’d rather have “moderate inflation.” The dollar is worth about 4% of what it was in 1913. That’s moderate?

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  9. I think there is more wealth in this country than consumer debt, at least I hope that is the case. If I’m correct, then more good will come from lower prices, because there will be a positive impact on the purchasing power of most people.

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  10. Has this fellow Clay always been such an ignorant buffoon?

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  11. The whole banking system is an intentional scam.

    Watch the Secret of Oz…explains everything.

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  12. aggregate demand that he wants to restore was all a Fed inflated illusion to start with. Consumer behavior was distorted by the Fed generated
    bubble and then collapsed with the bust. Now he says the solution is “create the illusion again” so consumer spending will return to its previously
    unsustainable levels. I don’t think that’s very good long-term policy. Consumer spending and business investment trends should be
    determined by real economic and market conditions, not Fed-generated illusions.

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  13. 1:32:32 That is correct but it is a result of FED inflating prices over where the free market would have them. They can suspend each bust by creating another artificial boom.

    The effect of suspending each bust is to compound them together until the point the dollar is destroyed and you are faced with a final grand slamming crash they cannot stop.

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  14. Does anyone feel the need to find another use for Duct Tape, taping Barney Frank’s mouth shut? How does this baffoon get elected and re-elected?

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  15. DiLorenzo’s basic argument that Fed monetary policy creates jobs in bubble industries that can’t be sustained in the long run made perfect sense. Clay’s blatant character attack on DiLorenzo was pretty rediculous and included some outright lies. I’d be pissed as hell if he was my Congressman.

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  16. I love youtube :) The media stinks. This is good stuff.

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  17. The tragic irony is that the Fed is a debt slaves trader and Mr. Clay in his ignorance is a “house slave” betraying the people he was sent to Washington to represent.

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  18. hmm 24,931 view for a subcommittee hearing…normally this would have around 20 views… definitely different times…

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  19. Mr. Clay’s comments in a nutshell—

    “Thank god for President Obama. The fed says that printing money will not depreciate the currency and I believe them. All hail The Allmighty Chairman of the Fed!”

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  20. Could someone post the times of the highlights of this? I can’t sit here and watch these criminals for 2 hours.

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