Ron Paul Hearing on the Fed's Bailout of the Euro -- 3/27/12

This hearing of the Domestic Monetary Policy Subcommittee focused on the Federal Reserve's bailout of the Eurozone and its impact on the U.S. economy, the monetary system, and the dollar. Particular attention was given to the Fed's central bank liquidity swap lines with the European Central Bank, which exchanged dollars for euros at extremely low rates without collateral.

The hearing was held on Tuesday, March 27, 2012, at 10 a.m. in Room 2128 of the Rayburn House Office Building and was titled, "Federal Reserve Aid to the Eurozone: Its Impact on the U.S. and the Dollar."

Witnesses:
§ William C. Dudley, President and Chief Executive Officer, Federal Reserve Bank of New York

§ Steven B. Kamin, Director, Division of International Finance, Board of Governors of the Federal Reserve System

• Category

  News & Politics

[rgwynne100]

Paul's doing more of his day job work while campaigning for the Presidency, than Obama, Romney, Santorum, and Gingrich put together! And at 70+ years old. What a great man and example to our country!

[thebartbarelloshow]

He speaks like a President!

[AzzABla]

well its not like were really giving them a buck, as he stated they print it out basically free, so were giving them toilet paper @ interest?

[AzzABla]

this mans delusional! far better shape than 2 years ago? weve trippled deficit halved the spending power of our curency, have THE HIGHEST UNEMPLOYMENT ever witnessed in our history, financial and political policy has us over-reaching on all fronts while earning less capital [25% less from unemployment, multiplied by deflation] and aparently the only option for the fed reserve to create capital is to hand europe a buck in exchange for 1.25? not doing better, this is decidedly the lowest point yet

[AzzABla]

1 how can u guarentee profit margins with a 0% loss record on these credit swaps?

2 if the us dollar is suffering a 0 loss ratio why is there deficit coupled with inflation

3 if these wolves arent flat out lying, surely theyre witholding something.

[Thomas Jefferson]

hurts my heart to kno whats really happening, and knowing Ron Paul knows this and trying hard as he can to save our country

[MrLomix]

Wisdom is flowing from this man.

[UnconventionalFIN]

GO RON PAUL! END THE FED! You are fighting the BANKSTERS, keep it up!

[Guiriism]

So the fed authorized the printing of 50bn which they lent to Europe got interest on the swaps then this newly created 50bn causes inflation as they had expanded the currency by 50bn.

what a joke.

[niguhfag]

You forgot to mention that hes much fitter than than most people his age. Ron Paul can easily ride a bike for 25 miles. I'm sure Mitt Romney would throw up if he did that and Newt Gingrich would have a heart attack.