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
  • http://www.youtube.com/profile?user=Zatzzo Zatzzo

    because he thinks everything works better without the state, even things like health care, which is plain nonsense. i hope i dont have to explain to you why.

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  • http://www.youtube.com/profile?user=JoeMillz Joe Millz

    Why is Ron Paul an idiot?

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  • http://www.youtube.com/profile?user=KEW1945 KEW1945

    I suppose you are right wars & deaths & bailouts & detaining Americans indefinitely is much better to have like ALL the others wants.

    Ron Paul wants less government, more state control, all troops home, no wars, no bailouts..
    Obama and Romney and Santorum and Gingrich has a few extreme ones that really should make people not want to vote for them. wars & death & detaining Americans is not extreme?

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  • http://www.youtube.com/profile?user=KEW1945 KEW1945

    Yes he wants to cut federal minimum wage not state. next time be more clearer.
    I did not see it till now, you are a federal employee right?, no wonder why you are against him. I would not like him either if my paycheck was going to get cut. you never was for him was you? not many federal employees are. your priorities are different then mine there for you should not vote for him. no one should vote for someone they fell is wrong for themselves.

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  • http://www.youtube.com/profile?user=KEW1945 KEW1945

    Before government interfered in shelters funding who operated them. it would be the same as we have here in my county with shelters & fire & ambulance departments volunteers operate them & they are funded by donations from the public. so if your area has a heart nothing will happen to the homeless, but if they like war and troops & innocent civilians dieing & don’t care if Americans are detained indefinite, then I fell sorry for you. what state do you live? don’t want anyone I know to move there

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  • http://www.youtube.com/profile?user=inurt203 inurt203

    America isn’t America from long time ago.Sorry

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  • http://www.youtube.com/profile?user=rcacad rcacad

    Once again the wise teacher, teaches his students. DR PAUL IS AN AMERICAN HERO. DONT BELIEVE THE HYPE….. HE IS RIGHT!!!

    Like a boss: Ron Paul or no one at all!

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  • http://www.youtube.com/profile?user=KEW1945 KEW1945

    Obama and Romney and Santorum and Gingrich has a few extreme ones that really should make people not want to vote for them. what the heck is your priority’s you must be one sick person to think wars & death & detaining Americans is not extreme. I’m sorry but when I hear complete ignorance. ahhhh

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  • http://www.youtube.com/profile?user=KEW1945 KEW1945

    I suppose you are right wars & deaths & bailouts & detaining Americans indefinitely is much better to have like ALL the others wants.
    Ron Paul wants less government, more state control, all troops home, no wars, no bailouts and he does not want to get rid of min-wage.
    “His solutions would solve problems long term but the short term would be breaking to the country” do you realize how stupid that is. few extreme ones like what? that is not a lie. try educating yourself on all the candidates.

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  • http://www.youtube.com/profile?user=rcacad rcacad

    m mill feat. r ross “im a boss!”

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  • http://www.youtube.com/profile?user=rcacad rcacad

    I feel like 1000’s of protesters should be marching in their and rioting and yelling “end the fed! end the fed!” as they surround these guys and bag them off to never be seen again. ps. V for vandetta costumes would help.

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  • http://www.youtube.com/profile?user=Zatzzo Zatzzo

    Ron Paul is an idiot, and everyone in their right mind knows, he’s never gonna be president, ever.

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  • http://www.youtube.com/profile?user=ManosOceano ManosOceano

    Reveal the Rothschilds: The USA is a hostage of the Rothschild Illuminati Money Mafia; i.e. the FED, you know? Rothschild also owns nearly all central banks in the world, no? All humanity can stand together to End the Rothschild Reign, yes? Time is now to unite, ready?

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  • http://www.youtube.com/profile?user=FutureLaugh FutureLaugh

    03:33 Ron Paul’s official Ring tone everybody!

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  • http://www.youtube.com/profile?user=Xiphion Xiphion

    These two puppets are really slick talkers. Must get paid a ton to speak like that.

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  • http://www.youtube.com/profile?user=32whatsup 32whatsup

    AMAZING NEW RON PAUL VIDEO —————> watch?v=B7HOuDt3OhM

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  • http://www.youtube.com/profile?user=takethepowerback83 takethepowerback83

    2 people don’t know about monetary theory.

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  • http://www.youtube.com/profile?user=jetsrule23x3 jetsrule23x3

    “that’s a shame” haha this man is awesome

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  • http://www.youtube.com/profile?user=MrCythos MrCythos

    A good example of that was Germany.

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  • http://www.youtube.com/profile?user=pippipmagrip pippipmagrip

    If you print money like confetti, that’s what it will become.

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