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. Best line: "at least JP Morgan has some skin in the game. He had some money in the game. When the banks failed, he failed. What does Bernanke have in the game? He gets a salary any way then goes off to work for Goldman Sachs."

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  2. Any of these representatives that don't agree with Ron Paul's basic believes in the Feds position in the US should not be in government representing us and are truly ignorant to economics and The Fed.

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  3. Whether it's now or later, the piper must be paid. Though the world abounds with whimsical manmade laws & schemes, natural law cannot be refuted. Best to begin the correction now rather than down the road with more borrowing added to the dilemna.

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  4. Whether it's now or later, the piper must be paid. Though the world abounds with whimsical manmade laws & schemes, natural law cannot be refuted. Best to begin the correction now rather than down the road with more borrowing added to the dilemna.

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  5. Barney... I'm from South Africa... We didn't manipulate currencies... But we can feel the inflation. From the Oil prices you drive up with wars to keep your GDP up, to the trillions you've dumped in the world economy. The USA is the engine that drives the devaluation of everyone else money. Its one thing to steal from your people, but who gave you the right to raid my bank account?

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  6. Barney... I'm from South Africa... We didn't manipulate currencies... But we can feel the inflation. From the Oil prices you drive up with wars to keep your GDP up, to the trillions you've dumped in the world economy. The USA is the engine that drives the devaluation of everyone else money. Its one thing to steal from your people, but who gave you the right to raid my bank account?

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  7. HERE ARE REASONS WHY RON PAUL WILL NEVER BECOME US PRESIDENT;
    1) AGE. (TOO OLD TO BE A PRESIDENT OF THE MOST POWERFUL COUNTRY IN THE WORLD)
    2)DOESNT HAVE ENOUGH FUNDS( SELLS HIS BOOK AND USES WORDS CONSTITUTION AND LIBERTY), THAT WILL NOT PUT FOOD ON A TABLE FOR AMERICANS!
    3)DOESNT HAVE A REAL STRATEGY ON EXACTLY HOW HE IS GOING TO CREATE JOBS(OK, LETS SAY WE WILL BRING ALL TROOPS HOME, THEN WHAT?) THEY ARE GOING TO BECOME UNEMPLOYED AND COLLECT WELFARE? 4) UNDERESTIMATES CHINESE POPLN 1.4B

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  8. democratsaresmart

    HERE ARE REASONS WHY RON PAUL WILL NEVER BECOME US PRESIDENT;
    1) AGE. (TOO OLD TO BE A PRESIDENT OF THE MOST POWERFUL COUNTRY IN THE WORLD)
    2)DOESNT HAVE ENOUGH FUNDS( SELLS HIS BOOK AND USES WORDS CONSTITUTION AND LIBERTY), THAT WILL NOT PUT FOOD ON A TABLE FOR AMERICANS!
    3)DOESNT HAVE A REAL STRATEGY ON EXACTLY HOW HE IS GOING TO CREATE JOBS(OK, LETS SAY WE WILL BRING ALL TROOPS HOME, THEN WHAT?) THEY ARE GOING TO BECOME UNEMPLOYED AND COLLECT WELFARE? 4) UNDERESTIMATES CHINESE POPLN 1.4B

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  9. US monetary policy is "deferred pain". If we pretend there isn't a crisis, then maybe there really isn't one? Problem with Keynesian thinking is that in the real world government debt doesn't get unwound, it just keeps accumulating. If the government gets their hands on any real money, they spend it. When was the last time the government paid down on the debt? In 1900, the national debt was about $724 per taxpayer (in 2010 dollars)... today it's over $100K... scary.

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  10. Vedder keeps saying people aren't spending because they are scared. I don't buy that for a moment. No one I've talked to is saying they are scared, therefore they won't buy a toaster or car or whatever. There are fundamental reasons why people aren't buying, and Keynesian "animal spirits" are not the reason.

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  11. OutlawTomFantastic

    For anyone watching this who wants to fast-track the video, question and answer grilling begins at around 0:46:50 directly after the opening remarks (which are excellent by all three witnesses).

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  12. RON PAUL = HERO

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  13. Peter Schiff and Tom Woods would have owned these clowns.

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  14. You want fix the video? Maybe the Government can hire some one to do it but first. It will probably have to go through a sub committee, and then a committee, and maybe another committee. Then it will have to go to the floor for a vote. Who knows how many laws and codes will come out of this in order to fix the video???

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  15. I would never be a part of the SPLC and believe it is a hate group, but I support austrian economics. Don't you think you are painting austrian economists with a pretty broad brush?

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  16. Ron Paul the neo-confederate invited two dumb ass Austrian economists to testify. It makes as much sense as inviting people who believe in creationism to testify on evolution. DiLorenzo is a racist. Vedder was exposed as a fool when he said any economist who makes a prediction is a fool and then he got tricked into making a prediction. That was COMEDY GOLD! Also funny to hear that Ron Paul does not understand that deflation lowers consumer's wages. Monetary neutrality - look it up dumb ass!

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  17. If you look closely at Clay's ear, you can see the earbug that has a direct link to the Federal Reserve.

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  18. Congress is supposed to appropriate public funds, after public debate-- not a private, secret banking institution.

    It doesn't matter whether you support fiat money or hard metal: the issue is democratic control over whatever spending is agreed on.

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  19. Isn't it wonderful to see our man sitting in the chairman's seat? Hellz yeah.

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  20. "Government collateral control of real property perpetuates debt".

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