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

592 Responses



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

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592 responses to “Federal Reserve Aid to the Eurozone: Its Impact on the U.S. and the Dollar”

  1. latrel66

    Debt Swap!!! Wtf!? Lol

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  2. rekjected

    The thing is these are federal government grants, if there is any form of support it has to be within your state or local. it isnt fair for poor states to be taxed for other states issues. you realize being in a deficit is completely bad because now all of us are in debt. And your wrong. This money would go to schools and other public services. We won’t solve the issues of poverty or anything by simply continuing to spend and bankrupt everyone

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  3. ObsenityofAtomicTech

    No your idea of proxy persons is not valid. People make a lot of things, I just flushed one a hour ago. The only thing we make that is a person is concieved in a womans body and even that the dammed corporate government demands that they decide when and if it has a right to life and the protection of the law of the land. A corporation is a document of agreements, that the state, then the feds, and now the world goverments back up with law enforcement. Most of the docuements are frauds illegal

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  4. neving123

    if u have a facebook and you want a more informed world please like the ChanneledKnowledge page.. Please spread the word!

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  5. Daniel Thomason

    You are a dumb ass.

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  6. TrollingForDrRonPaul

    You are a dumb ass.

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  7. Thizzmotion

    What he says is a simple lesson we all learn in economics 101. In a perfectly competitive market, price equals marginal cost. In a monopolistic market environment, consumer surplus is marginalized. In the former, there may not be any profit for the firms offering the services, but prices are so low that everyone receives the service. In the latter, corporations get rich by being the price setter, but not as many people receive service.

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  8. thetruthis9

    keep drinking the RON PAUL CULT KOOL-AID…you can’t blame poor ronnie boy’s lack of appeal and common sense on the media…
    REAL AMERICANS DON’T WANT ANOTHER DUMBASS TEXAN IN PRESIDENT OBAMA’S HOUSE…
    ron has been running for president since 1830 AND STILL AIN’T WON A STATE…!!! ONLY THE TEABAG LUNATIC FRINGE THINKS THIS RACIST IS A VIABLE, SANE PRESIDENTIAL CANDIDATE…!!!

    THE RON PAUL CULT IS A FUCKING JOKE…!!! BWAAAHAHAHAHAHAHAHA…!!!

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  9. MadeinBaghdad

    Israel killed JF Kennedy, because:
    1) He would eliminate the CIA,
    2) He would issue Treasury greenbacks (which don’t pay interest) in lieu of financing government deficits through the Federal Reserve, and
    3) He spoke against empowering the state of Israel with nuclear capability.

    now look in my eyes and tell me Israel won’t kill Mr. Paul if he won as a president???

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  10. Mijyns

    or how about a big, strong protest to gather national attention? plenty of people support him.. IN BIG NUMBERS but the media never shows it and makes it come of as if they’re all romney or santorum supporters when its not that way!!!! mafias and the elite control everything in the usa, they pay people to show up at rallies and plenty of other shit.. :s its sad.

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  11. brent saulic

    gideondavid30 The first 130 years of our nation was rural, slave owning, religiously conservative people who did not need to interact in a global economy. What should the role of government in this new era–it can’t be the same as the old eras? Can a Libertarian define practical way of implementing their ideas–a pragmatic way of actually implementing some of his ideas!! I would like to see some of them in effect, to see if it works–especially in the realm of foreign policy
    .

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  12. BrentSaulic

    gideondavid30 The first 130 years of our nation was rural, slave owning, religiously conservative people who did not need to interact in a global economy. What should the role of government in this new era–it can’t be the same as the old eras? Can a Libertarian define practical way of implementing their ideas–a pragmatic way of actually implementing some of his ideas!! I would like to see some of them in effect, to see if it works–especially in the realm of foreign policy
    .

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  13. justatrey

    *** Tax Day Money Bomb – Sunday, April 15 ***

    InToWin2012 [dot] com
    InToWin2012 [dot] com/facebook
    NO ONE BUT PAUL!

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  14. a vitamin

    Greeting from across the world. excellent article I shall return for more.

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  15. Zatzzo

    look at other countries. look at canada or france, or any other industrialized country today. your government involvement is peanuts, thats almost nothing in comparison. according to studies a normal system wouldnt even cost you more, you even had a surplus. thats because corporations would have to compete with the state. again: thats the way it works everywhere else. and it works very good.

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  16. ArkhitektonIV

    Mr. Dudley – “We’re providing a backstop to the Euro-Zone so markets and investors and can be less afraid of the economy and be more aggressive with investments.”

    Mr. Dudley – “We own about 26 Billion in Foreign Debt… I don’t see a reason why we would buy more debt.”

    Dr. Kamin – “One thing that European Countries need to do is raise their financial backstops.”

    Reverse logic trickles in minds of those whom operate the hands that control money.

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  17. ArkhitektonIV

    Mr. Dudley – “We’re providing a backstop to the Euro-Zone so markets and investors and can be less afraid of the economy and be more aggressive with investments.”

    Mr. Dudley – “We own about 26 Billion in Foreign Debt… I don’t see a reason why we would buy more debt.”

    Dr. Kamin – “One thing that European Countries need to do is raise their financial backstops.”

    Reverse logic trickles in minds of those whom operate the hands that control money.

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  18. ArkhitektonIV

    I love his innocence.

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  19. amg

    ron paul is the only candidate ..he will win either way …there will be a revolution….

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  20. MDethfan

    Look at what has happened to the quality of education in this country since federal financial aid. Again,with one source of funding and no healthy competition, the prices all go up while the quality goes down. Now college is a business. Graduate with a BA and 100k in debt all to get a job making 40-50k if your lucky. You’d be in debt for a long time trying to pay that back. /watch?v=A75KERKwEQM

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  21. MDethfan

    Sorry bud that’s not the case. The government has been involved in health care for a long time. First with FDR, then expanded by LBJ and then Nixon interfered. Government involvement escalated enormously in the 1960′s with Medicare and Medicaid. Now Obama is seeking control. If he gets this to pass the quality of service will drop a lot with one source of funding, the taxpayer.

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  22. MDethfan

    Sorry bud that’s not the case. The government has been involved in health care for a long time. First with FDR, then expanded by LBJ and then Nixon interfered. Government involvement escalated enormously in the 1960′s with Medicare and Medicaid. Now Obama is seeking control. If he gets this to pass the quality of service will drop a lot with one source of funding, the taxpayer.

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  23. MDethfan

    Sorry bud that’s not the case. The government has been involved in health care for a long time. First with FDR, then expanded by LBJ and then Nixon interfered. Government involvement escalated enormously in the 1960′s with Medicare and Medicaid. Now Obama is seeking control. If he gets this to pass the quality of service will drop a lot with one source of funding, the taxpayer.

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  24. dragsterf

    RON PAUL MONEY BOMB APRIL 15th

    RON PAUL MONEY BOMB APRIL 15th

    RON PAUL MONEY BOMB APRIL 15th

    RON PAUL MONEY BOMB APRIL 15th

    RON PAUL MONEY BOMB APRIL 15th

    IN IT to WIN IT!! Please donate to liberty on April 15th, you know where!

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  25. TheScars75

    ***ATTENTION ALL RON PAUL SUPPORTERS****

    As you all know Rick Santorum has dropped out,we all need to take a break from posting articles and conspiracy videos and go to ALL Santorum groups and sites and extend a warm welcome to the Ron Paul campaign,we did this when Cain dropped out and doubled our numbers!…Be nice don’t argue with them,show them love and facts and let’s WIN THEM OVER before Mitt’s little worms do it!….re-post this in all groups…….RON PAUL FOR THE WIN!!

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  26. TheScars75

    ***ATTENTION ALL RON PAUL SUPPORTERS****

    As you all know Rick Santorum has dropped out,we all need to take a break from posting articles and conspiracy videos and go to ALL Santorum groups and sites and extend a warm welcome to the Ron Paul campaign,we did this when Cain dropped out and doubled our numbers!…Be nice don’t argue with them,show them love and facts and let’s WIN THEM OVER before Mitt’s little worms do it!….re-post this in all groups…….RON PAUL FOR THE WIN!!

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  27. Zatzzo

    is this a joke? thats exactly the way it DOESNT work in the us. thats why the costs go through the roof.

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  28. ZeroSk8ter

    Haha Noice

    3:30 – 3:41 “Thats a Shame”

    Its Okay Ron Paul Its just the R3VOLUTION Calling!!!

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  29. MDethfan

    and these corporations fund (their) candidates now since they passed that law in.. 2010 i think?!?. Since they own the politicians they write the laws through bribery and get away with murder. Now we are so overregulated that its so hard for the little guy to start up business today and create jobs. Now if it was a shitty business it would fail simple as that. Great incentive to deal quality services.

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  30. MDethfan

    negative. who says we need a government to provide social services? how about a free market that breeds competition. you dont like one vendor, go elsewhere. those companies would compete and drive prices down while the quality goes up. Jobs and wealth for all. You think the corporations would take over but with crooked overegulation they already control everything! In fact it goes a step higher, its the central bankers that now ultimately own almost all off those corporations.

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  31. lilsm555

    The same is true for Santorum and Obama also. They are all bought and paid for sell outs.

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  32. GovernMentalFreedom

    Gadaffy questioned this before his assassination

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  33. GovernMentalFreedom

    Question: Is the Federal Reserve Repetitiveness dumb or is Ron Paul smart and the American people dumber who has no idea how prostituted their children are !!!

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  34. stide13

    Dudley lies a little better than Kamin does

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  35. stide13

    Dudley lies a little better than Kamin does

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