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


  • Practical libertarianism –

    1) Restore power back to the states so they can regulate themselves.
    2) Cut the war spending.
    3) Cut the welfare spending.
    4) End the fed.

    There is your policy right there.

  • If you watched this entire video: YOU ARE WHAT’S WRONG WITH THE ECONOMY.

    Go out and look for work.

  • ╔>♦♦♦# COME ON IN AND CHAT #♦♦♦ <|
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  • i sincerely want Ron Paul to win the nomination, but at this point, it seems almost certain that romney is going to win, sigh, some faith in humanity has been lost

  • Love you Ron!

  • Its not that they’re voting for Mit.. The elite simply dont wan’t run Paul.. It’s all set up.. Ron will never win.

  • i know it feels like he is way more authentic just by listening to him right?…it doesn’t feel like he is trying to be sneaky when speeching.

  • Hey, don’t forget about Rick “The Dick” Santorum. The same could be said about him, and his supporters. Oh, here’s a fun question to consider. Which of these two is more likely to completely rip this country apart; the one that doesn’t believe in anything except his own wealth and greed (Romney) or a man who is willing to make his religious believes into law, and force them upon everyone. (Santorum). They both frighten me, but it’s still fun to ponder.

  • “If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” -Thomas Jefferson

  • “I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” Thomas Jefferson

  • of course they do, it’s easy: more money = rich

  • Every person voting for Mitt is a complete idiot, a follower, and only listens to the mainstream media.. There is literally NOTHING that Mitt has done and said that makes me want to vote for him. I am saddened by my country by how gullible, ignorant, and easy to control they are… So pathetic..

  • People speak of FREEDOM, yet they drive around in Vehicles “REGISTERED”, and their Bodies “LICENSED” to the Corporate STATE. The People voluntarily participate through consent, registration and words-of-art to the CROWN OF LONDON Corporation known as the UNITED STATES (U.S. INC); pretending to be the Organic, bankrupt Government of 1776. FREEDUMB

    see youtube: Season of Treason Full
    see youtube: Santos Bonacci Reclaiming Dominion Part 1

  • he also downplays his financial interests for a reason

  • We The People Can Not let the government divide us stand together with a 10 million man march on dc . Under Pale Grey Sky We The People Shall Arise Ron Paul R[̲̅ə̲̅٨̲̅٥̲̅٦̲̅]ution 2012

  • Restore the sovereign Constitutional Republic. Balance the Budgets. End the Fed. End the Wars. Secure the Blessings of Liberty. Vote RON PAUL!
    cvrp2012.com Combat Veterans for Ron Paul
    Moral Imperative – Clear Mission – Decisive Victory – Return Home

  • if i were there, i would vote Ron Paul – he seems smart, he has a human touch, he seems to genuinly care. his competition is really dumb by comparison

  • it is easy….. when he loses he wins as his truth is fixed… the people will see and follow the doctors orders.. he may not win but for me he is the oly winner to begin.. he deserves it.. 4 strong months ahead if the barrack makes a mistake thats all we need to twist the tail.. when he loses we are all in for shti.. thus if he wins he will makke major simple changes. but not to close our eyes we will see the army reguardless the us has lost a good portion of barrack beleives.. good luck to us

  • “banks are supposed to be in between” can you clarify this statement please?

  • Coward? Funny and ironic coming from some anonymous dick-weed on YouTube. Before you call a veteran a coward you better be ready for a shit storm if other veterans are around…cause buddy, you will get the beating of your punk, UFC-wannabe life.