On Friday morning, Rep. Ron Paul chaired the thirteenth and final meeting of the House Financial Services subcommittee on Domestic Monetary Policy and Technology, entitled: The Price of Money: Consequences of the Federal Reserve’s Zero Interest Rate Policy. The witnesses included: Mr. James Grant (Editor, Grant’s Interest Rate Observer) and Mr. Lewis E. Lehrman (Senior Partner, L.E. Lehrman & Co).
On Thursday morning, Rep. Ron Paul chaired the twelfth meeting of the House Financial Services subcommittee on Domestic Monetary Policy and Technology, entitled: Sound Money: Parallel Currencies and the Roadmap to Monetary Freedom. The witnesses included: Dr. Richard Ebeling (Professor of Economics, Northwood University), Mr. Nathan Lewis (Principal, Kiku Capital Management LLC) and Mr. Rob Gray (Executive Director, The American Open Currency Standard).
Rep. Ron Paul joined the House Financial Services committee hearing to question Treasury Secretary Tim Geithner. The Congressman hinted at the Secretary's failures and well known conflicts of interest, and asked him about the audit the Fed legislation making its way through the legislature. The hearing, entitled: The Annual Report of the Financial Stability Oversight Council (FSOC) took place on Wednesday at the Rayburn House Office Building. Video coverage available via C-Span.
(Audio Fixed - 7/26) On Wednesday, Congressman Ron Paul - lead sponsor of H.R. 459, the Federal Reserve Transparency Act of 2012 - discussed why the Federal Reserve System is fundamentally flawed at the full House Financial Services hearing, entitled: "Monetary Policy and the State of the Economy." This could very well be the last time we see Ron Paul grill the Fed Chairman before the cameras, as he has done with much fanfare so many times before. The Congressman made his opening remarks and stuck around for two rounds of questions for Ben Bernanke. Video compliments of YouTube User: CongressmanRonPaul.
Rep. Ron Paul chaired a House Financial Services Subcommittee hearing on six legislative proposals that either reform or suggest abolishing the Federal Reserve System.Witnesses included economic scholars and analysts along with three Congressmen that currently sponsor bills on the issue. Tuesday's hearing included two separate panels, both of which are included in this single download. Representative Kevin Brady (R-TX) and Representative Barney Frank (D-MA) were the witnesses for the first panel. The witnesses on the second subcommittee panel included: Dr. Jeffrey M. Herbener (Chairman, Economics Department, Grove City College), Dr. Peter G. Klein (Associate Professor, University of Missouri),Dr. John B. Taylor (Professor of Economics, Stanford University and Senior Fellow in Economics, Hoover Institution),Dr. James K. Galbraith (Lloyd M. Bentsen, Jr. Chair in Government/Business Relations, University of Texas at Austin), Dr. Alice Rivlin (Senior Fellow, Economic Studies, Brookings Institution, and former Vice Chair, Federal Reserve Board of Governors). Video coverage of the first panel was also provided by C-Span.
Rep. Ron Paul returned to Capitol Hill on Tuesday to chair a meeting of the Domestic Monetary Policy and Technology Subcommittee of the House Committee on Financial Services. The hearing was held at the Rayburn House Office Building, and was entitled "Federal Reserve Aid to the Eurozone: It's Impact on the U.S. and the Dollar." Committee members had the opportunity to hear the testimony of two prominent Fed officials: Mr. William C. Dudley (President and Chief Executive Officer, Federal Reserve Bank of New York) and Dr. Steven B. Kamin (Director, Division of International Finance, Board of Governors of the Federal Reserve System). Dr. Paul called for the full committee to take up full oversight of the Fed's European bailout operations. This audio contains all statements and testimony from the hearing.
Congressman Ron Paul spoke before the House Committee on Financial Services Wednesday, attending a hearing entitled: Monetary Policy and the State of the Economy. The committee, chaired by Rep. Spencer Baucus, addressed the Federal Reserve's dual mandate (very innocuous and non-threatening to the banksters). After making his opening statement, Dr. Paul had a chance to grill Fed chairman Ben Bernanke about the long-term inflation that has destroyed the value of the people's currency. Video compliments of YouTube User: CongressmanRonPaul.
Rep. Ron Paul was back in Washington on Wednesday, ready to take a few days off of the campaign trail. It just so happened that Secretary of State Hillary Clinton was testifying in front of the US House Committee on Foreign Affairs. Congressman Paul took the opportunity to ask Sec. Clinton about the overt militarism of the Obama administration and US policy in regard to Iraq, Iran, and Afghanistan. The hearing was entitled: Assessing U.S. Foreign Policy Priorities Amidst Economic Challenges: The Foreign Relations Budget for Fiscal Year 2013. Video compliments of YouTube User: PSNy2kUK.
On Tuesday morning, Chairman Ron Paul held the ninth meeting of the House Financial Services subcommittee on Domestic Monetary Policy and Technology, entitled: “Audit the Fed: Dodd-Frank, QE3, and Federal Reserve Transparency.” This hearing is perhaps the most important one of the Congressional session to this point, but ironically Fed chairman Bernanke was being grilled concomitantly in the full committee- so the media surely paid little attention. This hearing was split into two panels- the witness to the first being Ms. Orice Williams Brown (Managing Director, Financial Markets and Community Investment, Government Accountability Office). The second panel witnesses included Dr. Robert D. Auerbach (Professor of Public Affairs, Lyndon B. Johnson School of Public Affairs, University of Texas, Austin) and Dr. Mark A. Calabria (Director of Financial Regulation Studies, Cato Institute). The subcommittee lasted just over 90 minutes- and the government remains incapable of providing decent audio quality for the archives. The audio is particularly distorted throughout the first 15 minutes (I will be working on improving it), but becomes more listenable after that. Following the hearing, the GOPFinancialServices YouTube channel released a "Behind the Scenes" video of Dr. Paul discussing the subcommittee and the Audit the Fed legislation (begins at 1:32:24, after dismissal).
On Tuesday afternoon, Chairman Ron Paul held the eighth hearing of the Subcommittee on Domestic Monetary Policy and Technology, entitled: “Road Map to Sound Money: A Legislative Hearing on H.R. 1098 and Restoring the Dollar.” The two expert witnesses were Dr. Lawrence M. Parks (Executive Director, Foundation for the Advancement of Monetary Education) and Dr. Lawrence H. White (Professor of Economics, George Mason University). Video of the hearing can be found through the House Financial Services Committee website. Oddly, the audio quality starts to deteriorate around halfway through the hearing, particularly when Dr. Parks starts discussing JP Morgan and the $600 trillion in derivatives (not the first time, mind you). An excellent discussion of sound money, and even fractional reserve banking- if you can listen through the distortion. Email me if you know of a method in which the kind of audio disruption heard during the committee could be inserted into the audio incrementally.
On Tuesday afternoon, Chairman Ron Paul held his seventh hearing of the House Financial Services subcommittee on Domestic Monetary Policy. The hearing, entitled “Impact of Monetary Policy on the Economy: A Regional Fed Perspective on Inflation, Unemployment, and QE3” featured testimony from the outspoken President of the Federal Reserve Bank of Kansas City- Dr. Thomas M. Hoenig. Very interesting hour-and-a-half of audio. Dr. Hoenig speaks about the ongoing threat of (being hostage to) the too-big-to-fail banks! The Democrats on the subcommittee a still trying to justify TARP for Lord Obama.
Congressman Ron Paul questioned Federal Reserve Chairman "Helicopter Ben" Bernanke in a U.S. House Financial Services Committee Meeting on Wednesday, shortly after reports surfaced that the Fed was preparing for a third round of quantitative easing. Opening statement and questioning. Video compliments of YouTube User: morphzealand.
Chairman Ron Paul held his sixth subcommittee of the Committee on Financial Services hearing on Thursday, at a hearing entitled: “Investigating the Gold: H.R. 1495, the Gold Reserve Transparency Act of 2011 and the Oversight of United States Gold Holdings.” The committee meeting took place in the Rayburn House Office Building, and the expert witnesses on the panel included the Honorable Eric M. Thorson ( Inspector General, Department of the Treasury) and Mr. Gary T. Engel (Director, Financial Management and Assurance, Government Accountability Office). The hearing started off slow, but the line of questioning turned to the IMF's gold holdings, and whether or not US deep storage gold truly belongs to the American people! Take a listen and judge for yourself! Props to Rep. Blaine Luetkemeyer (R-MO) for exploring beyond the "definitive" statements of the Mint.
On Wednesday, Chairman Ron Paul held the fifth hearing on domestic monetary policy, entitled: "Federal Reserve Lending Disclosure: FOIA, Dodd-Frank, and the Data Dump." The hearing, held as part of the House Committee on Financial Services, was aimed at the process and potential of receiving more data on the Federal Reserve's bailouts throughout the financial crisis and the ensuing recession. Sitting on the panel as guest experts were Mr. Scott G. Alvarez (General Counsel, Board of Governors of the Federal Reserve System) and Mr. Thomas C. Baxter, Jr., (General Counsel, Federal Reserve Bank of New York). With the exception of Dr. Paul and Rep. Walter Jones, the rest of committee members seemed to be pitching softballs to the panelists, so they could tell us how transparent the Fed is and how their emergency operations were great (and cost-free) for all Americans! For a group of supposedly anti-Wall St. hardliners, the Democrats sure take it easy on the Fed's PR lackeys! The Dems have apparently lost all of their fury at the bankers to instead try and make Obama, Geithner, et-al look worthy of another four years. With liberals like these, who needs neocons?
Congressman Ron Paul addressed the Foreign Affairs Hearing on the continued hostilities in Libya and the War Powers Resolution. Bonus audio: Rep. Justin Amash (R-MI) statement in same hearing. Video compliments of YouTube User: CongressmanRonPaul.
On Wednesday morning at the Rayburn House Office Building, Chairman Ron Paul held the fourth meeting of the Subcommittee on Domestic Monetary Policy and Technology. Dr. Paul's hearing is a sub-committee of the larger House Financial Services Committee; and this file contains the hearing in its entirety. Today's sub-committee was entitled: “Monetary Policy and the Debt Ceiling: Examining the Relationship Between the Federal Reserve and Government Debt." Panelists included Dr. Richard Ebeling (Professor Economics, Northwood University), Mr. Bert Ely (Ely & Company, Inc.), and Dr. Matthew J. Slaughter (Dean, Tuck School of Business, Dartmouth College).
Chairman Ron Paul held his third hearing for the House Financial Services Subcommittee on Domestic Monetary policy on Thursday morning. The hearing was entitled “Bullion Coin Programs of the United States Mint: Can They Be Improved?” Guests on the advisory panel included: Ms. Beth Deisher (Editor, Coin World Magazine), Mr. Terence Hanlon (President, Dillon Gage Metals Division), Mr. Ross Hansen (Founder, Northwest Territorial Mint), and Mr. Raymond Nessim (Chief Executive Officer, Manfra, Tordella & Brookes, Inc.).
Congressman Ron Paul made a brief opening statement at Thursday mornings House Foreign Affairs Committee, regarding the goals and constitutionality of the ongoing militarism against Libya. His remarks were directed at Deputy Secretary of State James Steinberg. Video was available via C-SPAN, approximately 30 minutes into the hearing.
Dr. Ron Paul's House Financial Services Subcommittee on Domestic Monetary Policy held its second hearing Thursday at 10am eastern. The subject of the panel was "The Relationship of Monetary Policy and Rising Prices." The three witnesses were Lewis E. Lehrman, James Grant, and Professor Joseph T. Salerno. This was an interesting, yet sparsely attended hearing- the minority's ranking member didn't even show up! But the incessant buzzing is unfortunately still present in the audio recording of the entire hearing. Video of the entire hearing can be found here.
Congressman Ron Paul took his five minutes at the House Financial Services Committee to confront Fed Chairman Ben Bernanke on monetary policy, and says that Fed policy has not helped to stabilize the economy over the last 30 years or so. Paul asks how the Fed can manage monetary policy if it doesn't have a definition for a dollar. And, he adds, gold is the true long-term measurement of value. Live coverage of the hearing was provided by CNBC.
Ron Paul questioned Secretary of State Hillary Clinton during a meeting of the House Foreign Affairs Committee on Tuesday. The Congressman pointed out the duplicitous nature of US foreign policy, and our tendency towards ignorance of the unintended consequences of our actions. Dr. Paul reminded Madame Secretary that : "sometimes we support the bad guys." Video available thanks to YouTube User: CongressmanRonPaul.
Rep. Ron Paul (R-TX), the new Chairman of the Subcommittee on Domestic Monetary Policy and Technology, held his first hearing today on the Federal Reserve and its effect on the unemployment rate. True free-market, Austrian economists were summoned to the subcommittee by Dr. Paul, including Thomas DiLorenzo (Professor of Economics, Loyola U.) and Richard Vedder (Professor of Economics, Ohio U.). Josh Bivens of the left-leaning Economic Policy Institute, in contrast, offered a Keynesian analysis of the recent economic crisis. The panel addressed the effects of the so-called "Quantitative Easing" and concluded that sustainable job growth can not be achieved through the printing press. The hearing, entitled “Can Monetary Policy Really Create Jobs?”, is available here in its entirety for download at your convenience. The audio quality is somewhat poor all across the internet, including in the original video on the House Financial Services website. I tried to remove the constant buzzing sound from the audio as best I could- maybe someone doesn't want you to hear this!
Having taken in this hearing in its entirety, it is clear that this subcommittee will provide unique insight into the way the monetary authorities have slithered their way into total control of this republic. Advocates of the central bank cherry pick facts and figures to support their outrageous policies, which they spin through the PR machine and present a reasonable sounding front to an economically ignorant public. They then accuse you of doing exactly what they do! As good American students (who mindlessly memorize and repeat facts and figures) do, the conventional wisdom descends from on high to be repeated without question of the original premise. It doesn't take long to conclude that the Democrat caucus has been carefully selected for the task of being apologists for the status-quo, and lackeys for the private Federal Reserve. The ranking minority member, William Clay Jr (D-MO), is an open minion of the dastardly Southern Poverty Law Center who most likely received his line of "questioning" from the Fed and the SPLC. Clay, along with Al Green (D-TX), will almost certainly use the controversial Community Re-Investment Act to bring race into the discussion on monetary policy. This file is a must listen!
On Wednesday, Congressman Paul discussed congressional spending and the Fed's monetization of debt as the House Financial Services Committee convened. Dr. Paul explained how the Federal Reserve is "the great facilitator" of big government. Whether it is cradle-to-grave welfare or a military empire, only a central bank enables the imagination of the statist! The conference was entitled "Promoting Economic Recovery and Job Creation: The Road Forward" and the Congressman questioned Dr. William Poole- distinguished Business & Economics scholar from the U. of Delaware.
On Thursday, Dr. Paul talked about the failure of government intervention in his opening statement, and then questioned Fed chairman Ben Bernanke during a House Financial Services Committee meeting. In the second portion of the hearing, questions were leveled at economist and Federal Reserve historian, Dr. Allan Meltzer.
On Tuesday, Congressman Paul discussed coinage and asked questions of the director of the U.S. Mint and the president of the Diamond State Depository during a hearing on "The State of US Coins and Currency." Dr. Paul pointed out that paper money breeds inflation and destroys the value of currency.
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