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. What was really funny was the fact they didn't look all too comfortable while Dr. Paul read their educational and work history back to them...dirty scum-bags just go from college to Goldman Sachs to the Federal Reserve...fuck eating the rich, we need to eat the bankers!

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  2. I'm not Republican nor Democrat. However, Ron Paul will not win the Republican Primary and here's why.
    Mitt Romney has 504 delegates/Ron Paul just has 27 delegates
    Mitt Romney has over 4 million in the popular vote/Ron Paul just barely has over 1 million
    Mitt Romney has 40% of the vote/Ron Paul just has 10%
    Mitt Romney holds 18 states/Ron Paul doesn't even have a single one. Ron has 0 states.
    Ron Paul advocates, please explain, how can he still win this? Have common-sense and just do the math.

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  3. fun

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  4. I'm glad that I've had this opportunity to enlighten you. Paul is a loser

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  5. Maybe they paid her off too.

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  6. Obama is not fixing anything. Give your head a shake, after you remove it from Obama's ass, of course.

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  7. of course we should.. we are just human resources to these scum.

    The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
    - Thomas Jefferson

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  8. The EUSSR is not a democracy!
    Restore democracy!
    Stop the EUSSR!

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  9. lmao his phone went off. i love this man

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  10. How in the hell is Dr. Ron Paul a coward? He has been fighting for the Constitution since the 70's. He is no coward in my book.

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  11. Dislike. I would never vote for that coward ron paul. Obama 2012 all the way.

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  12. Dislike. I would never vote for that coward ron paul. Obama 2012 all the way.

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  13. such bull..banks are supposed to be inbetween so stupid

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  14. VIDEO PROOF THAT ELECTIONS ARE AND CAN BE RIGGED WITHOUT DETECTION….

    http://www.youtube.com/watch?feature=player_embedded&v=TtHiA7TJUV0

    This may be one of the most important election fraud videos ever!

    PASS IT ON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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  15. Everyone, please vote for RON PAUL on The 2012 TIME 100 Poll. He is currently in 3rd place.

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  16. Everyone, please vote for RON PAUL on The 2012 TIME 100 Poll. He is currently in 3rd place.

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  17. Look I like to think myself in pretty darm good shape, But I have to give credit where credit is due, Ron Paul is like 100 years old running for President and traveling all over the Country, got a very good chance of winning, with Romneys dad being from Mexico, which makes Romney ineligible to be President, same thing is up with Obama now that Sherriff Joe has brought evidence the Obama Birth certificate is a phony, Santorum is just a mean guy that wants war with everyone, I'm voting Ron Paul!

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  18. LIKE A BOSS

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  19. 1:20:28..... I can answer that jfor you and hope that you get this message... It can only be found in one TRUTHFUL place that I'm aware of... The International Bank of Settlement & Exchanges... That is the only place I have found that has to list all other obligations and everyone uses... The obligations are shown as credit default swaps... Exposure for U.S. banks is 7.5 trillion... NOW ASK THE FUCKING BANKSTER WHY THEY LET THE CRONYS SELL THEM UNFUNDED AND STICK THE PREMIUMS IN BONUS PAYOUTS...

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  20. that's almost a sentence. but it's not an argument.

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