Federal Reserve Aid to the Eurozone: Its Impact on the U.S. and the Dollar

Congressman Ron Paul, Chairman of the Domestic Monetary Policy and Technology Subcommittee, announced today that the subcommittee will hold a hearing to examine the Federal Reserve’s assistance to the Eurozone and the impact of that assistance on the U.S. monetary system and the dollar.

“The Federal Reserve has been creating money out of thin air for forty years now,” Chairman Paul stated, “and they’ve ramped up the printing presses during these five years of crisis—all in the name of economic stability. But there are consequences to massive amounts of money creation, consequences when central banks print money, consequences when they loan it, and consequences when banks get this money and create even more money and credit through fractional reserve banking. Indeed, these Fed actions helped cause the very crisis we’re suffering from today.”

Congressman Paul continued, “It is important for Congress to acknowledge this and to hold the Fed accountable for its actions, since they affect the value of the dollars in our wallets. This isn’t just about the Fed trying to bailout Europe; there is a fundamental question here about what fiat money does to the economy. I am pleased that President Dudley, a permanent voting member on the FOMC, will be appearing before the subcommittee so we can ask some important questions about the Fed’s involvement in Europe and what that means for the dollar and our fiat monetary regime.”

The hearing, entitled “Federal Reserve Aid to the Eurozone: Its Impact on the U.S. and the Dollar,” will be held on Tuesday, March 27, at 10:00 a.m. in Room 2128 of the Rayburn House Office Building.

Witnesses scheduled to testify:

  • William Dudley, President & CEO, Federal Reserve Bank of New York
  • Steven B. Kamin, Director, Division of International Finance, Board of Governors of the Federal Reserve System


  • Anyone else notice how everything always goes back to or has deep ties with GOLDMAN SACKS???

  • He finally got to the top, and is now done..He’s worked almost his whole life trying to fix these issues with the FED and the Gold standard. Hope to god he makes it either as the nominee or on the independent ticket.

  • Dr. Ron Paul is simply the BEST for FREEDOM. Record to prove it.

  • Those people are misinformed, and don’t do any type of research for themselves. The man is humble and full of honest Integrity. The people who claim racist just feel into the mainstream media propaganda.. Crazy they still run with the racist card when the subject have been completely dropped.. idiots for sure!

  • They need to drop the “MR” and add “DR” – He earned it!

  • When the video first started, I was like, “Mr. Paul” HELL NO, IT’S DR. PAUL.. He earned that title, so give it to him! >.<



  • In the past, people like Mr. Dudley were hung from the neck for being part of
    this scam called central fraction reserve banking. It’s a criminal concept.

  • He’s a F*CKING DOCTOR, all the other candidates are F*CKING MORONS!!!! We need someone intelligent to run this country who is not a drone like OBAMA and all the other Republicans!!! He’s the only one who makes any sense for our country and for FREEDOM!!! He has CREDIBILITY, INTEGRITY…. and not to mention (again) A DOCTOR!!! I don’t vote Republican or Democrat… I vote for the BEST president for the country!!! RON PAUL 2012!!!

  • I would Love to buy a home, but the government intervenes in the market and makes them too expensive.
    If they allowed the rule of law to take effect, house prices would drop to half of what they are now. Perhaps wages would too, but I have saved for a long time and could buy one, but they’re just too inflated…..again.

  • It’s a darn shame Mr. Paul isn’t running for re-election. I Sure hope someone else picks up where he left off.

  • HI RON from AZ .. always remember MATTHEW 4.4.. and remember me..

  • this clowns channel contains nothing but this single comment, what an ass hole. keep voting democrat.

  • the bible tells us different groups have different characters, yet this is outlawed today by the so called racist slur.

  • why racist?? arguments please!

  • Love that ringtone

  • if u let a bank fail it is benefiting whole the of society. if a bank has 1billion in deposits and has lent out 10billion, if the bank dissolves then you sell the 10bill of mortgages for say 5billion and give 1 bill to make the depositors whole and you make 4billion profit which you can use to seed a new bank.

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  • Surfisher

    Ron Paul 2012 President — the only Real American!!!

    There are two reasons Romney is “winning”:

    1) Mitt’s huge bankroll is a tremendous edge, able to buy, buy and buy Votes!

    2) The GOP has chosen to do whatever it takes to assure Mitt’s nomination (legally, unethically, and even down right fraudulently)!

    See the shameful GOP’s actions in Maine:


    Also, this video — http://www.youtube.com/watch?v=UDChEDnISOw — shows a blatant outrage of another GOP delegate fraud!

    If you love America — VOTE for Ron Paul . If you don’t — go to China!