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

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592 Comments:

  1. A veterans militia in the Fed, Dr Paul in the White house. Gold and silver in your pocket. America we look to you. If you fall we all do.

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  2. Right On! That was priceless!! — literally :)

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  3. I had a dream last night that Ron Paul won the presidency. It was by a very slim vote, but he won. I cried from happiness.

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  4. Rp, after losing the Rep. nomintn., goes third party, taking all his followers away from the Rep. party. Also,many Independent voters support him. Also, many people who vote Dem. support him, because they don’t like what Obama’s done.
    Ron Paul-40%
    Mitt Romney-30%
    Obama-30%
    Watch out for voter fraud, or worse…

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  5. Two fools spinning their wheels for an hour and a half. Paul slams them with the truth at the end.

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  6. Imagine Ron Paul being sworn in as president. It’s a great image :)

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  7. Yep! But in their defense, there wasn’t really anyone good enough to be voted in by the people. Ron Paul had already dropped out and people weren’t going to watch Palin humiliate America. But now, we do have a choice. It is so sad to see that people are still silly!

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  8. because it has been dumb down.

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  9. Ron Paul is currently the third most influential person of 2012 according to current Time magazine poll. More influential than Barack Obama, Mitt Romney, and Rick Santorum combined. This is an unprecedented opportunity for us bypass the media blackout and draw national attention to the only candidate that can get this country back on the right path. Help Ron Paul get the attention he deserves and vote today.

    Official voting ends on Friday, April 6, and the poll winner will be included in the TIME 100 issue.

    http://www.time.com/time/specials/packages/article/0,28804,2107952_2107953_2109630,00.html

    Lastly, be sure to share this with EVERYONE you know.

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  10. Massive dumbing down of the population, and election fraud. It’s just like 2008; a large sum of people did not know why they were voting for Obama. The media portrayed him as some sort of savior sent from another galaxy, so the zombies do whatever their television sets tell them to do.

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  11. Dwayne Elizondo Mountain Dew Herbert Camacho 2012!

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  12. Dwayne Elizondo Mountain Dew Herbert Camacho 2012!

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  13. how can America NOT vote for this man?

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  14. if these cuts don’t happen , those programs will no longer be able to get funding if the dollar falls. So the cuts are coming one way or another, were just delaying it atm.

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  15. Why are banks that were “too big to fail” still too big?

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  16. speaking of credibility, you just lost yours. you obviously do not know a thing about the history of ron paul and the other GOP candidates. Besides, even if Ron Paul doesnt have Crediblity, At least his interests are for the better and make sense. We have been in war for 8 1/2 years and obviously Bush, and obama did not handle it correctly. The rest of republican candidates have shown that they are at the same interests as bush and obama. At least vote for someone who is concerned to make CHANGE

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  17. Ok..Clears throat…WTF….How exactly is Paul not credible? hes been saying the same thing for fucking years and his voting record coincides with that. It sounds like you came here to talk shit. Got any ideas or examples instead to throw instead of mud?

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  18. so you favor a slow poisonous death over death and rebirth?

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