Ron Paul’s House Subcommittee to Examine Fractional Reserve Banking

23 Responses




WASHINGTON, DC – Congressman Ron Paul, Chairman of the Domestic Monetary Policy and Technology Subcommittee, announced today that the subcommittee will hold a hearing this week to examine fractional reserve banking.

“Fractional reserve banking underpins the entire banking system, yet its effects on society are completely ignored,” Paul stated. “Our financial system consists of vast amounts of credit pyramided on top of very small amounts of real savings– all backstopped by explicit and implicit government guarantees. This poses significant risks to the stability of the economy and monetary system, which ought to give pause to any serious observer of financial markets.”

“Hopefully this hearing will create a greater understanding among the American people about the nature of the banking system, and begin the movement towards serious systematic reform,” Paul continued. “The American people deserve a financial system that is stable and efficient; one that operates without taxpayer subsidies and bailouts.”

The hearing, entitled “Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money,” will be held on Thursday, June 28, at 2:00 p.m. in room 2128 of the Rayburn House Office Building.

Witnesses scheduled to testify:

– Dr. John Cochran, Emeritus Professor of Economics and Emeritus Dean, School of Business, Metropolitan State College of Denver

– Dr. Joseph Salerno, Professor of Economics, Lubin School of Business, Pace University

– Dr. Lawrence H. White, Professors of Economics, George Mason University


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23 responses to “Ron Paul’s House Subcommittee to Examine Fractional Reserve Banking”

  1. Jesse Hunter

    Andrew Meyer Don’t Tase Me Bro !! ( Omega’s Triphop Remix )

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  2. Jesse Hunter

    I wish we the Consittution says we are capable of being. No doubt most of us are, understanding the situation then combining like minds. while wacthing out for the hitman that comes every renual of the bank’ contract to be in charge of control distribution an make the money, well not I sayeth this citizen, I’m not going to die for the greater good of all. I’ll pray for all of you, may God be with you on your path.

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  3. Jesse Hunter

    The Secret of Oz – Winner, Best Docu of 2010 v.1.09.11 VIA YOUTUBE, an dont get it twisted I am the smartest one here. I like to think so when shout outs are on the web!!! Its fun funny and real fun an then sum.

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  4. Surfisher

    The mechanics of How Banks Suck Us Dry — this is the definitive video explaining it in detail. A must see by ALL!

    Share it — and send it to all centers of learning!

    http://www.youtube.com/watch?v=lsmbWBpnCNk&feature=related

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    1. Surfisher

      Add to this the Feds modus operandi — and it becomes a killer combination (meaning killing We the People financially)!

      http://www.youtube.com/watch?v=W3hLKpKv3ME&feature=related

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  5. Surfisher

    The BO or Rmoney?

    Voting for either one of them would be like buying used underwear….

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    1. Surfisher

      Mittney disagrees with himself — all the time, but agrees with The BO all of the time!

      http://www.youtube.com/watch?v=4vWVdOTFs8M&feature=player_embedded

      What great choices for Americans — whose used underwear will you be buying this time around, come Election Day?

      http://www.youtube.com/watch?v=KHAHOzx2-I4

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  6. French Canadian

    House Committee Approves Ron Paul’s Audit The Fed Bill
    http://www.infowars.com/house-committee-approves-ron-pauls-audit-the-fed-bill/

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  7. French Canadian

    ALERT… ALERT… ALERT

    I don’t know if this true or not, but it would’nt surprise me with that slicky Jesse Benton.

    Jesse Benton Keeps Ron Paul from Attending Another Grassroots Event
    http://libertychat.com/jesse-benton-keeps-ron-paul-from-attending-another-grassroots-event

    Excerpts:

    Jesse Benton, the man famous for his work in Borat & Bruno, has made another genius decision. This one will keep Ron Paul away from yet another major grassroots event. When asked about Ron Paul events in Tampa, Jesse says “Ron Paul will avoid events where his campaign doesn’t set the tone and message. The event at the fairgrounds is being held by Paul supporters who aren’t affiliated with the campaign”.

    Jesse will instead help to divide the movement by holding a separate event the same weekend as PaulFest , an event grassroots supporters have been working on since March.

    My Prediction, Sacha Baron Cohen will be one of the speakers, after he convinces Jesse that he’s a Republican running for congress in Florida.

    Then again, I could just be one of those crazy grassroots people who “doesn’t get it”. So where do you stand? Should Ron Paul attend PaulFest or follow Jesse Benton’s lead and hold a separate rally? Vote in our poll below

    ————————

    I voted… go vote!

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  8. Jack "F*ckhole Pounder" Smith

    Note to Bernacke: Ron Paul is coming for your tw@t-@ss. You got that, ya c*nt bitch????????????????????? GO. F&CK. YOURSELF. F@GGOT.

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  9. nevadasmith

    Fellow Ron Paul supporters : I am so Proud of All of You ! From the whole spectrum and rainbow of Ron Paul 2012,You are just amazing. This “Against All Odds”, “Fight To The Finish”, “No Quarter Given,No Quarter Asked”,”There Is No Tomorrow” effort,Will Go Down In History.
    We Few,We Merry Few,We Band Of Brothers….You are now writing History ! None Save Victory !
    Good Luck Gentleman and God Speed !

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  10. French Canadian

    Ron Paul Moves Forward with ‘Audit the Fed’ Bill
    http://www.infowars.com/ron-paul-moves-forward-with-audit-the-fed-bill/

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  11. Surfisher

    Real Americans are now The Enemy of the USA — when did this happen!?!?!

    This is the most lucid examination I’ve seen. It is spot on!

    And most disturbing is that the current US Senate still swears an Allegiance to the Corporation of the United States — NOT the US Constitution!

    That should tell us to whom they belong!

    I wish someone is able to post a picture of the booklet issued to US Senators before each session — where it states on PAGE ONE to whom their swear their allegiance (The Corporation of the USA) prior to commencing their “Constitutional” order of conducting business!
    ———————————————————————————————————-

    It is true that since Lincoln (whose FACTUAL legacy — not the moral words he spoke — since Fact supersedes Talk) will be remembered as the One US President that caused more American deaths than both World Wars combined, left our nation under Marshall Law (disguised till now — until the BO has blatantly started to flex his muscle to DO to HIS SUBJECTS whatever he wishes under these Unconstitutional Powers Granted)!

    Why do you think the BO, or if perchance, the Mittney, deemed as the more palatable successor to placate the American People if he wins since he’ is the “lesser” evil — will continue to build FEMA Concentration Camps who have already ordered 15,000,000 iron shackles to ease us there…? Since Real Americans will never agree with any tyrant?

    It Is because, of this Martial Law, that they own US by default!
    ——————————————————————————————————-

    P.S. If you research it further — you’ll see that currently ALL US Citizens have LOST their Sovereignty, and as subordinates of the US Corporation have ZERO protection under the original US Constitution, and are SUBJECTS to the WILL of the Executive Branch (who are the only ones that can claim Constitutional Protection — precisely, ONLY the US Congress, the US Senate and the US President and the US Vice President are the ONLY ONES entitled to Constitutional Rights — NO OTHER AMERICAN IS)!
    ———————————————————————————-

    In conclusion — we can no longer claim to be US Citizens, but Subjects to be disposed of as the Usurpers of our Nation chose our futures to be…Unless we TAKE BACK OUR COUNTRY, by whatever Declaration of Liberty means are again necessary!

    Ron Paul to WIN — or America to End 2012!
    (there are no other options)!

    Share this — spread it like wildfire!

    http://www.barefootsworld.net/war_ep.html

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    1. Jesse Hunter

      Hey bro check out secret.org an the lobby spending trend up to the point of the recession. not to mention that there is no way you or I or anyone for that matter is are or capable of out voting 3.33 billion dollars the most recent contributions to our elected officles in congress who have unlimited amount of terms. So fun funny an sum more fun but the sooner you like I forget an care less for those who do so for themselves we are futile throwing sand against the very tide we have to ride until financial independance. So I go on down the road, get a job keep going to school save every penny, relocate to a developing country an choose to stay out of the way. You see when you get in the middle of a fight often times the two capers will join an attact you. Like breaking up a domestic violence fight between two dissfunctional perpetrators of the same kind. Social engineering, stanely milgrahm 5, an the grape vine are the basic tools of trade. So I stay out of the fight an look out for number one. Oh yeah an return to the states for work purposes only an to get out when that is all done. Simple way to stay Nuetral is “When knocking out street lights, its best to do it on both sides of the street/track” and know the middle finger is in the air continuosly for I am free.

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  12. Surfisher

    WASHINGTON, DC 6-25-2012 – Congressman Ron Paul, Chairman of the Domestic Monetary Policy and Technology Subcommittee, announced today that the subcommittee will hold a hearing this week to examine fractional reserve banking.

    “Fractional reserve banking underpins the entire banking system, yet its effects on society are completely ignored,” Paul stated. “Our financial system consists of vast amounts of credit pyramided on top of very small amounts of real savings– all backstopped by explicit and implicit government guarantees. This poses significant risks to the stability of the economy and monetary system, which ought to give pause to any serious observer of financial markets.”

    We, The People, have been economic Slaves to these Bankster Creatures…and nearly none of us are aware of this EVER EXPANDING SLAVERY!

    (the video below explains it short & simple; for in depth, read Henry Ford’s “The International Jew” and a book called “None Dare Call It Conspiracy” — good luck finding either in your local library…most likely BANNED there!)

    Spread this like wildfire!

    http://www.youtube.com/watch?v=W3hLKpKv3ME&feature=related

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  13. Surfisher

    Ron Paul Massachusetts delegates CRIMINALLY disqualified from the RNC!

    One thing that must be comprehended by all:

    If the requirement to sign these affidavits was introduces Ex Post Facto (which seems to be the case) then the invalidation of the duly elected Ron Paul delegates cannot be Legally enforced (even by a Private Organization such as the GOP) since that flies in the face of all common law (no-one can Retroactively change the rules, in order to change the outcome of an already transpired Fact!).

    Lawyers For Ron Paul must get on top of this immediately. Not only to seek immediate remedy, but also to place federal criminal charges against the named perpetrators of this criminal act since it affects the outcome of a national election (whereby Federal Election Laws subjugate all state and civil laws, and all private rules that are passed in order to disfranchise any and all)!

    http://www.youtube.com/watch?v=dZBSZsQAo3Q&feature=player_embedded#!

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  14. Thaddeus Kosciuszko

    A Rorschach test will never be able to discover,
    The real-shock of what one man seeks to uncover.
    The lack of transparency in monetary policy,
    Is perpetualy—not a theory of conspiracy.

    For fedrev only discloses a tidbit for us to see,
    And keeps the rest of it—under a veil of secrecy.
    One man’s principles have become square pegs,
    For corruption has been written into the regs.

    One man says—answer me—Mr. Bernanke,
    Why did you sacrifice our $—to assets of toxicity?
    Don’t you know nuthin’—or did you just forget,
    Actual capital—is backed by actual unconsumed assets!

    T Kosciuszko

    If Liberty, Imagination and Reason set the policies,
    Free-markets and free minds will be prosperity,
    Real fulfillment must come from the bottom up,
    Not the government down—we just need a fair ump!

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  15. Citizen

    FRC banking is simple theft.
    Murry Rothbard, Frederick Hyack and L. von Mises all concured that the practice was Bankster fraud pure and simple.

    The Banksters lend the same unit of value (currency) a multiple times depending on what reserve requirements are.

    Fractional Reserves are partially held Demand Deposits, typically only 10-20% of total customer deposits. Where the SAME deposits are lent out 7 to 9 times over and over again. When a Bankster makes you a $100,000 loan, he’s borrowing the money at 2% from the FED, and lending it to you, and 6 other people at 4%
    So the Banksters is lending $600k at double the interest of his cost or he’s making 24% return for what costs him only 2%

    Bottom Line… Banksters are Grand Theft Artists…
    and the get to do it “legally”

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  16. French Canadian

    If you want to know how the Fractional Reserve Banking System really works, listen to this 17 minutes video… it will tbe the best 17 minutes investment in your live.

    Ron paul appears and speaks in this video. Now if you think you already understand that system, it doesn’t matter, listen to it anyway.

    Then send it to people who do not understand it. This video explains everything very well… even someone with an IQ at the level of room temperature will understand it… lol

    How Fractional Reserve Banking Works
    http://www.youtube.com/watch?v=W3hLKpKv3ME&feature=related

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    1. Surfisher

      French Canadian — superb post.

      I’m spreading it now to many sites!

      Thanks for posting this !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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  17. French Canadian

    Off Topic:

    “Thought that endorsing Romney was bad enough? ”

    Rand Paul Votes NO on GMO Labeling
    http://www.infowars.com/rand-paul-votes-no-on-gmo-labeling/

    Excerpts:

    “Thought that endorsing Romney was bad enough? In another turn of events that exposes the corporatist leanings of Rand Paul, Senator from Kentucky, he has voted NO on a GMO labeling amendment to the farm bill “to permit States to require that any food, beverage, or other edible product offered for sale have a label on indicating that the food, beverage, or other edible product contains a genetically engineered ingredient.” The following is taken from the United States Senate Website.

    —————————————-

    On Topic:

    Fractional reserve banking System is a complete fraud and should be abolished ASAP.

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  18. fairness applied

    A clear and clinically accurate diagnostic is followed by improved therapy: a needed slogan for the 21st century society maladies. No?

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  19. fairness applied

    Dear Dr Ron Paul:

    The proposal of ‘bailing out’ the majority of the population -the 99%- seems sound in the current economic context.

    Because there are so many products already in the market for which there’s no purchasing capacity. And this include products and ‘degreed’ or adult persons in need of self support.

    Because the businesses will recover some of their investments and people will move into self shelter.

    Because the population has done such a good JOB at analyzing the crisis and providing different types of solutions that it becomes a fair pay for the work done, and that is still ongoing. And it should decrease the bitterness of the remedy for all parties in this drama, and provide real hope for a good restart.

    Because the investments of the bail out money will start to move the economy of the immediate and farther future. Though the people investments likely will be in real life markets and needs it should benefit the big players in the long run.

    Because it will take less than 1.5 trillion for a 4 year bail out of the population, it seems a better use of the printed money. Kind of like a people’s new deal.

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