Video: Ron Paul’s subcommittee hearing on the Federal Reserve

Tucked away quietly amidst the big headlines about contempt charges against Eric Holder and the Supreme Court’s ruling to uphold Obamacare as a Constitutional tax, a lesser known, but very important story seems to have all but slipped through the cracks. The U.S. House Subcommittee on Domestic Monetary Policy and Technology, chaired by Ron Paul, held it’s latest hearing on monetary policy and the Federal Reserve. Bringing down the Fed has been a lifelong passion of Paul’s, but only within the last few years has the idea gained much traction with others in Congress.

Since February of 2011 a total of 13 hearings have been held by Dr. Paul’s subcommittee. The latest entitled “Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money” was held on June 28th. Three distinguished witnesses were present to answer questions about the Federal Reserve’s policies and the dangers they pose to the United States’ economic and fiscal health.

The three witnesses this time around were, Dr. John Cochran, Dr. Joseph Salerno, and Dr. Lawrence H. White.

Dr. Cochran is an Emeritus Professor of Economics and Emeritus Dean at the School of Business at the Metropolitan State College of Denver.
Dr. Salerno is a Professor of Economics at the Lubin School of Business at Pace University.
Dr. White is a Professor of Economics at George Mason University.

Dr. John Cochran’s written testimony, entitled “Fractional Reserve Banking and the Central Banking as Sources of Economic Instability: The Sound Money Alternative” is available for reading in PDF format here.

Dr Joseph Salerno’s written testimony is available for reading in PDF format here.

Dr. Lawrence H. White’s written testimony is available for reading in PDF format here.

If you’d prefer you can watch the hearing below.

June 28, 2012 U.S. House Subcommittee on Domestic Monetary Policy and Technology – “Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money”

A complete list hearings by the House Subcommittee on Domestic Monetary Policy and Technology regarding monetary policy and the Federal Reserve is available at the Financial Services website.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s