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


  • you, sir, are a boss!

  • he really does bring people togethor and im from Europe o.O

  • I’m a democrat and I have to ask. “is it just me or do we all love Ron Paul?”

  • Surfisher

    Unless Ron Paul wins — the below is a Final Blow to FREEDOM!

    NDAA — how it affects YOU, the US Citizen!

    Prior to this 2012 infamy — BO signing the NDAA — no US military force could be Constitutionally used to WAGE WAR against US Citizens within the USA!
    The reason Clinton used in 1993 in Waco, TX — the FBI, BATF, SWAT to kill men (who may have broken the Law), and also kill and burn to death innocent women and children, that had different religious beliefs — NOT the US Military, which only stood by and did not participate.

    Now, BO, has the POWER to determine that ANY US CITIZEN disagreeing in a “confrontational manner” is a TERRORIST! So, go ahead and start A Peaceful Revolution — your exercise of FREEDOM of Speech may be deemed “Detrimental to National Security”, and thus your actions termed as those of Terrorists, to be crushed by the greatest Military Power on Earth — OUR OWN ARMED FORCES — obeying the dictates of the Commander-In-Chief (our current and FUTURE occupier of the White House)!

  • he must be talking about Mr. Clay lol

  • Ron Paul is unelectable b/c hes the only republican canidate holding political office, and unfit for POTUS b/c hes the only one that’s ever done a days work in his life.

  • dude imf caused one of the worst financial collapses in argentina, those guys are assholes

  • This is all an illusion people – this whole damn’d thing is fake! Its not Rocket Science people! This is a game – nothing more! MONEY DOESN’T “DRY UP” – WATER DOES! THIS IS A FUKN GAME! Your are wasting your time! This economic failure is by design – its all fake! This “money” is fake! There is nothing to see here that will help you; its too late to learn the game – you’ve already lost! Ignorance isn’t bliss, it is slavery! YOU LOSE – GOOD DAY SIR! GET IT?

  • Lmao…seriously? Andrew fucking Jackson? -_-

  • Remember, Remember the 5th of November…

  • I just heard on NPR, the Bush’s officially are endorsing Romney for the 2012 election.
    wow what a surprise!

  • Andrew Jackson reborn

  • we should blow up the federal reserve

  • Holy shit, those guys didn’t know what a dollar stood for…that’s scary…

  • haha it was supposed to seem like an insult until you read it all. Ron Paul is the man!

  • was that supposed to be an insult? i would take that as a complement.

  • so at 3:33, was he noticing that his fly was down? his wiener was probably hanging out 3 inches…. from the ground.

  • He looks so comfortable up there.

  • god damn. ron paul actually does what he tells people he wants to do and he still didn’t win the election? i give up on this fucking retarded country

  • Clay was pumping fannie mae in 2004. This idiot is still around.