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Ron Paul Subcommittee to Examine Fractional Reserve Banking and High-Powered Money

Live Stream, 2pm ET: Link - lower left corner

WASHINGTON, June 25 – 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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Link

Fractional reserve is the criminal ponzi scheeme within

the bigger counterfit digitized compounding debt issue of the nations sovereign curency by human owners of the private federal reserve bank corporation. They are the lowest of the low of humanity.

sovereign

I wonder

if a transcript is available?

"I'm as mad as hell, and I'm not going to take this any more!"
- Howard Beale

Is it over?

Is it over?

Rombama world

Why were there so few questioners? Don't our self appointed protecters really have an interest in analyzing their basic beliefs or were they too busy whooping it up because Justice Roberts doesn't believe individual rights trump congress's right to tax?

Federal deposit insurance. Too big to fail. Protections by the lender of last resort. Greatest good for the greatest whole. What a load of crap.

All the damned guards OSHA made me put on my machines dug my knuckles and weren't near as effective as my Father chiding "Don't you ever Think!"

Government should be a mechanism to thwart aggression, not an arm to fast and furiously facilitate it.

There are no guarantees. The Sun could have exploded eight minutes ago. Perhaps the only useful hearing would address unintended consequences of meddling.

Caveat Emptor.

I'll take my Liberty, it's not yours to give.

Why isn't Ron Paul president

Why isn't Ron Paul president yet?

"We don't need a Department of Energy; we need a Department of Freedom" - RP
"We need to defend liberty.. and liberty!" - RP

Super quiet again. WTF!?

Super quiet again. WTF!? Screwing up yet another webcast of Ron's

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

I didn't have a problem

Could you still hear what was being said?

I couldn't hear it on my

I couldn't hear it on my computer, but running it from my comp to my TV I was able to increase the volume enough. It was excellent, much praise for ending fractional reserves for the most part.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

The potato cam is only C-SPAN's Ron Paul footage

Which means that it's CSPAN which is sabotaging their own recordings of Ron Paul's hearings.

Ron Paul has a much better quality video without the audio problems on his Youtube channel. This video is posted here: http://www.dailypaul.com/242542/ron-paul-s-fractional-reserv...

On now.

.

Sitemeter

Says that the DP has had over 100 million page views total.

Let us see how much it goes up after these hearings. :/

donvino

?

I'm not receiving anything, is something wrong with my connection?

I'll take my Liberty, it's not yours to give.

live link

just counting the seconds- has this not started yet?

~peace

Reminder :-)

.

God grants liberty only to those who love it, and are always ready to guard and defend it. – Daniel Webster

I'm pretty sure Prof. Joseph Salerno is a conspiracy theorist.

Jack better start whining!

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

f yeah

solerno is going to take those keynesians to task! i can't wait.

And After The Hearing

...which I will sure watch if on CSpan...he is honored for his home run and throws the ball in? It is tomorrow, right. What a day he will have.

fonta

All I learned is from an expert

What I learned about the Fractional Reserve Banking I learned from Tony M and his videos. I suggest whoever wants to learn the basics should listen to what he has to say. I find his information brilliant, and exhilarating, inspiring to learn more. We need more information to make better decisions. I hope he does do an educational series on economics. It is not an easy topic, Tony has it simplified.

Let's follow this fractional reserve idea. Where is it going to lead.

Debbie's picture

This should be so very interesting.

The hearing on gold was very fascinating too.

Debbie

We're sure going to miss this man in Congress after November.

Our country will be that much the poorer without him.

Unless of course by some miraculous fluke it ends up being PRESIDENT PAUL!!!

HOPE SPRINGS ETERNAL.

"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

For those interested in learning more

Khan Academy on YouTube has a whole bunch of videos explaining banking (and plenty of other topics actually). Definitely worth checking out. There's really a lot of good stuff there. Below is his video on Fractional Reserve Banking. He makes things very simple and builds upon info in prior videos.

http://www.youtube.com/watch?v=nH2-37rTA8U

here is a video i made...

https://www.youtube.com/watch?v=KtjJzionoyA i love making these videos about federal reserve : )

Albert Camus — 'The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.'

BUMP

*

God Love Ron Paul

He's gonna fight the power until his dying breath.

Sadly this is probably just another instance where Boobus Americanus will say "fractional reserve banking? WTF is that and can I get another beer?"

The Term

When I read the Term "Fractional Reserve Banking", in a comment on a news website in 2007, it got me exploring and is the reason I came to find out about Ron Paul and how economies should be.

Hope at least some people will do further research!

Fractional Reserve Banking must end

It is the fundamental poison destroying all of humanity. Until it ends, there will be no peace and prosperity in this world.

beephree

Awesome!

That was one question I always wanted to ask Ron Paul about... but I'm sure he had thought about calling out the entire fractional-reserve banking system at the right time and I'm glad he's doing it now.

Awesome!

9-11 Media Fakery: Did anyone die on 9-11?
http://www.cluesforum.info/

http://www.septemberclues.info/

9-11 Actors:
http://www.youtube.com/watch?v=6aPvJSQtmoE

Pysops.. media.. actors.. propagandists... disinfo agents.. fake videos.. fake photos