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


  • Why is it that already bankrupted corporation can get loans of trillions of dollars, that might never be repaid, at zero interest or sub 1 percent, While solvent persons are paying over 30 percent interest to these same banks for the money these same banks that are bankrupted might never repay the fed reserve bank system for, or if repayed is repaide at less then 1 percent. This is a racket, this is usery, this is a sin, this is a crime , this is a thieft, this must end, and these bankers jailed

  • When the corporations must go to the people dirrectly for there credit, and pay interest to the people and not the reverse, then we will begin to see equality, justice, and power to the people on mass and not to just a few people that have managed to game the system to there advantage. No person should ever have to pay corportions for the credit those same corporations front run from the counterfieters at fed reserv bank system.

  • WHat even Paul have failed to recongnize is the people are the backers of the credit, and the people are backed by the earths ablities to enrich us. The law demands we be fare and equitable to eachother, that we never steal live , property, liberty or squash our free and open communication with one another. When Paul realizes that only people and not corporation have a natural right to there own credit. That means simply by being concieved a person has a right to credit.

  • The whole issue is who ownes the issuance of credit! The USA republic stated in it’s constitution that the national treasury is the only legal entity that can issue credit within the nation. No corporation has claim to the credit the nation is authorized to issue. The people of the nation are the nation. Corporations have no bill of rights, no right to life, liberty or the presuit of happyness, since they do not live, only people are pertinent to the natural rights.

  • is it just me, or has youtube changed so that as soon as a page loads, i can’t skip to half way through, especially on a long video like this?

    as soon as i opened this i clicked on the top comment’s “3:33” and it wouldn’t skip to it, it just reset and went back to the beginning of the video.

  • Ron Paul is the closest thing on this planet we have to God! 5-10 years time everyone will look back and say he started the changing of the world! The movement is too big to be stopped now it’s a cancer to the NWO

  • owned 1:36:30

  • thats a shame…. love this guy wayreal. lol im a big fan and watch these vids make me real sad but that was awesome.

  • thats a shame…. love this guy wayreal. lol im a big fan and watch these vids make me real sad but that was awesome.


  • Sure would but if people do it spread around and would resist arrests and stand toghether there would be no police to stop them – after awhile Americans could probably get out of the banking mess and so on.

    One thing that is realy encouraging is to see that the millitary people support Ron Paul.

  • I agree.. People hate paying taxes.. if someone was to start it, people would follow by the millions. Getting it started would be the hard part I think.

  • Lets all do it together… 300 mio americans starting to undermine to dollar simitaniously and resisting with weaponry 🙂

  • I’m armed to the teeth… but I’ll stop paying taxes and get thrown in jail right after you. lol

  • Dr. Paul reasonable ideas. Great message in this video: HD
    youtube. com/watch?v=d0ZF8XQKs9g

  • Thumbs up if you watched the whole thing!

  • Thumbs up if you watched the whole thing!

  • at about 1:10 sounds like the fed reserve is making swaps with europe banks so they (private investors?) can buy REAL ASSETS in America with our FIAT MONEY! Ouch. Don’t worry the fed. res. is charging them teeny interest! Deal of the Centuries! let me guess whom..ummm Mr Herman Van Rompoy???& Brussels buddies…oh my goodness,,so who owns WHAT now? see “Nigel Farage calls out NWO Herman Van Rompoy!” Our very own govt agency (fed) gave them money to buy America’s future at a SALES PRICES

  • debt really is consuming everyone. pretty much everyone except the wealthy.getting rid of debt by owing someone else debt wtf…

  • At 9:32- grossly underestimated. The Eurozone needs to borrow some 2.7 TRILLION over the next two years. Americans, where the hell do you think the funds are gonna come from??