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Video Update: NY Fed President Dudley at Hearing on Eurozone Aid w/Ron Paul 3/27

Thanks to Minnesota Chris for the video:


The Domestic Monetary Policy and Technology Subcommittee, chaired by Rep. Ron Paul, will hold a hearing on Tuesday to examine the Federal Reserve’s assistance to the Eurozone and the impact that assistance has on the U.S. monetary system and the dollar.

New York Federal Reserve Chairman and CEO William Dudley and Steven B. Kamin, the Federal Reserve’s director of international finance, will appear before the Subcommittee to describe all the assistance provided by the Federal Reserve to mitigate the financial crisis in Europe as well as the outcome of this assistance on the financial markets and the domestic monetary system.

“The Federal Reserve has been creating money out of thin air for 40 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.

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Problem is Global and economist all over the world knows it.

I hope we come into our minds and solve this problem once and for all. Seems to a lot of viewers of this vid that nothing was resolve especially regarding the talking points of the banksters. Never in the video that they have offered a solid solution to the problem. They can't even define the us dollars.

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

Do You See How Much Damage A Man Like Ron Paul Can Do To

the forces of evil.

Imagine a small irate tireless minority keen on setting brush fires can do with him..

You and I can only imagine the effect that would be....Lol

what a bunch of babbaling fools.....

William Dudley and Steven B. Kamin really started squirming towards the end of the discussion! I seriously wish more people would take the time & make it their business to learn what is going on. The FED is a joke, a very, very bad joke! I'm sorry but I personally think douche bagness just oozes from those two men. They have a lot of blah blah blah...but nothing of substance, they go through the motion & talk your ear off but in the end you never received any information that was helpful. I guess I'll stick with my gut feeling & continue to preach....END THE FED!!!

Dudley was extremely nervous,

Dudley was extremely nervous, especially in his opening statement. He was slurring words and fidgeting in his seat for much of the time.

A guilty conscience never feels secure.

Dr. Paul is amazing

Can you even imagine one of the other candidates questioning or understanding this congressional discourse? All the others would just concede and say well I guess the experts have spoken. Thank you Dr. Paul for studying economics your whole life and being able to cut through the baloney these Hacks spout off. President Paul!!!!!!


He needs a new ring tone

I'm thinking maybe Aimee Allen's Ron Paul song or an End the Fed chant from one of his rallies.

Anyone sell cell phones and want to toss one to Dr. Paul so he doesn't sound like he's carrying a phone from 2006.

GOD BLESS Ron Paul. He is basically the ONLY ONE...

...in Congress who is really ADDRESSING THESE ISSUES.

Like Dr. Paul says; "MONEY is ONE HALF of every transaction we make."

One of the federal government's PROPER roles is to PROTECT the VALUE of our MONEY.

Yet, they are the VERY ONES ALLOWING World Central Bankers (headed by our OWN Central Bank), to financially RAPE us and USE OUR MILITARY to DO THEIR BIDDING the world over.


While America watches "Dancing With the Stars."

Completely oblivious to it all.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

What if we send all the

What if we send all the bankers, war mongers and chicken hawks there to fight with their wars? And let all the military personnel defend and protect this country, and stop policing the workd?. Perhaps that would chnage their minds against their hostile foreign policy. The world needs peace not war.

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

"Soft" evidence is more

than is required for us to be summarly executed by the president...


I found myself watching the whole video last night. Well at least the Ron Paul questioning. He just makes so much sense. Not too long ago I would have just watched t.v. at night like the rest of the country. Things are changing!!!!!

Me too I've stopped watching

Me too I've stopped watching TV for 8 months now. I realize that internet news is so much better than the mainstream. No regrets.

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

itsallaboutbalance's picture

Why is it...

... that I seriously feel like punching, hard, in the face Dudley, Kamin and that obviously planted there Mrs.Maloney...?

"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."

I lost my number..

I seriously lost count of how many times Dr. Kamin said "Uhhhh."



At 46:00

When ask the FED forex SWAP LINES was there any losses, gains and how much? FED reply "The Track Record Was Excellent, No Losses, Profit for Tax Payer, Beneficial in supporting the flow of credit etc". How can they say that? By printing money to bail out everyone they continually debauch the US dollars that will ultimately will lead inflation or worse to hyperinflation. The only way to resolve this once and for all is to have a full audit of the FED and let the people decide if FED devaluing 98% value of the dollar is still beneficial.

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

lol... they are hoping anyone

lol... they are hoping anyone who is listening is stupid.

I Guess It Wasn't an Important Issue for the Following Members:

The American People Shoud Be Outraged. So we're the citizens who are being used as a ATM for Europe who gets all the no bid contracts. It's not important enough for these congressmen to even bother to show up. Ron Paul and the minority leader of the committee were the only ones I saw that even cared enought to show up (please correct me if I'm wrong) This is about the people's money being stolen in broad daylight. I'm definitely going to call them and ask them why they didn't show up for this unbelievably important meeting. Uh...2 year election cycle. Already behaving like insiders perhaps? If it's a schedule thing, then the republican leadership doesn't think this is important either. We have to call them on the carpet. The republicans still haven't figured it out and just aren't too sincere. If these are your reps please call them.
MAJORITY: (even if they aren't please call them!)
Ron Paul, Texas, Chairman
Walter Jones, North Carolina, Vice Chairman 202-225-3415
Frank Lucas, Oklahoma 202-225-5565
Patrick T. McHenry, North Carolina 202-225-2576
Blaine Luetkemeyer, Missouri 202-225-2956
Bill Huizenga, Michigan 202-225-4401
Nan Hayworth, New York 202-225-5441
David Schweikert, Arizona 202-225-2190
William Clay, Jr., MI, Ranking Member =(1 of 1 attendee)
Carolyn Maloney, New York 202-225-7954
Gregory Meeks, New York 202-225-3461
Al Green, Texas 202-225-7508
Emanuel Cleaver, Missouri 202-225-4535
Gary Peters, Michigan 202-225-5802

I want to swear

But swearing won't even express how I feel right now about them...

They basically DID NOT answer any questions, just went on and on with empty words...

Question: How can you solve Debts by compiling more Debts?

Answer given: We're improving, we're okay... I'm going to spout some BS without actual data...

Question: Again, The question is how will this help our debts?

Answer given again: I'm going to spout some BS without actual data...We're improving, we're okay...

My reaction: WTF? Do you even understand the questions?

Question: How can bailing out EUROPE help us?

Answer: We've considered it, it's best for us, cuz I know the answer that's all ...

My reaction: WTF? I'm done with these idiots!

If anyone watch this vid, and still think these two makes sense... They are seriously broken beyond fixing...

"Earth provides enough to satisfy every man's need, but not every man's greed."~Mahatma Gandhi
Quick Humorous Satire course on Ron Paul: http://www.youtube.com/watch?annotation_id=annotation_65316&...

I feel the same way. This

I feel the same way. This country has been completely hijacked by the banksters because they obviously seem like they don't give two monkey shits about answering questions, under oath, to the US Congress. The US Congress is a joke. Just look at the people asking the questions (other than Paul).

I'm so sick of this.

Mr. Dudley

Do you have America's needs at heart or the GLOBAL BANKERS interest at heart? Hmm?

In Liberty

It's in their DNA

http://www.youtube.com/watch?v=5qHqsmYABd0 Big Ben is trying to define the dollar whatever that means. I guess Dudley and Bernanke came from the same genetic makeup.

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."

Global Picture. Our banks take EU Bonds in lieu of local invest

American Banks lend in Europe, because they get higher rates for their money. The loans may be risker, but fortunately for them the risk is low, because they can turn to the Fed Reserve to bail them out.

Now here is the really bad part...the money they lend in Europe and Asia is money that is NOT lent to small and medium American companies to expand and grow business and jobs here. They do not lend here, because the rates are held low, nearly 0% by the Federal Reserve. So the most profitable operation for American banks is to lend in Europe, get 7% or more, get the money at low discount rate from Fed and NOT lend locally in America.

Risk is low they get bailed out.

This keeps EU going, and does not help USA.

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

The American people paid for this hearing...

...here's to hoping a few of them actually USE it, as a source of knowledge regarding how badly they're being screwed.

Dudley lost me in his opening remarks, when gave his "nothing I am about to say actually means anything" disclaimer.


I listened to this hearing 2 times! All I heard from these 2 monkeys was a bunch of Gobblygook, much to do about nothing.
Ron Paul must be saying to himself the whole time.."jeez" what will it take to get Americans to throw these scoundrels out.

reedr3v's picture

One of the funniest lines was the answer

to Dr. Paul's question of what evidence exactly shows the loans benefit Americans. Answer: "We don't have hard evidence, we have "soft" evidence." Pure speculation, theory, no facts.


This exemplifies the FedRes's actual directive which is essentially a form of gambling, and another reason why the government-shielded currency-mandated counterfeit operation should be dissolved.

Further, a 4 billion 'profit' as stated by the Chair compared to a trillion+ $ debt? No thanks

The Peoples' Business

It should be obvious.
Whether or not the people understand the issues regarding the Gold standard, the OPEC 'floating dollar' issues, the 'bailouts' of foreign central banks by the United States, or other ways of indebting the PEOPLE of the United States, there is only ONE candidate that is facing these issues, and taking care of The Peoples' Business.
A couple of 'ETCH-A-SKETCH' candidates, and a 'MOON-BASE' moonbat, along with an 'EMPEROR IN HIS MIND' (Barry Soetoro) are busy talking to the MSM about why 'they' are 'too big to fail'.

YOUR CREDIT CARD RATES are set by an arbitrary figure, PLUS 'LIBOR'.
Do you know what 'LIBOR' stands for?
In the early 1970's, a CORPORATION called 'Master-charge' came into being. It was hailed as the 'INTERBANK CARD', back then. Later on they changed their incorporated name to 'MASTERCARD'.
The 'L' stands for (the city of) London.
O.K. so much for the 'L I B' of LIBOR.
Some 'day-traders' figured out how to incorporate minor fluctuations in the 'markets' into a TRADING VEHICLE that earned them a MINT (later transmutated into the 'futures and derivatives trading markets'), and hegded 'tranches' of invested monies into these 'predicted fluctuations', down to the day hence. This would be called, nowadays, the 'Overnight Rate'.


In order to maintain this scheme of wealth aggregation, the '5 TOO BIG TO FAIL' entities, at this time, need to 'bail out' each other, AGAIN AND AGAIN AND AGAIN AND AGAIN...

Good luck with this commentary.


The most important issue to every person on this planet

and no one paying attention. No one attending and worse, when the clowns make comments, they all do so by starting with legal disclaimers so that when the SHTF they can't be held accountable for being DEAD WRONG. We are so screwed. The rich banksters and their friends just keep protecting themselves. They don't care about humanity at all.


Mrs. Maloney, Mr. McHenry,

Mrs. Maloney, Mr. McHenry, and Mr. Clay are all ________ (fill in the blank).

Pathetic. Brown-noses. Shills. Arrogant.

I love Ron Paul even more after this hearing. When he asked Dudley and Kamin what the definition of the dollar is, they sounded like school children trying to remember vocabulary words for an English test.

We are in trouble.

Mrs. Baloney

Not quite as bad as malleable Mr. Clay.

It's as if these actors are given their questions and statements for the Fed, directly from the Fed? They come in read the statements they have been given and then leave.

Mr. McHenry is not the same, while brown-nosing, he's just trying to figure out what is going on.

I don't really understand

I don't really understand their reasons for bailing out European banks. Are they really saying they had to give the European banks billions of dollars in loans so the banks would feel "comfortable" loaning money to American businesses?? Why can't the American businesses go to the American banks for loans instead since the Fed just loaned them gobs of money for the exact same reason?

Every time I see an adult on a bicycle, I no longer despair for the future of the human race. -H. G. Wells