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Josey Wales
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Ron Paul statement on the Fed’s continued Euro Bailout

- Ron Paul -

The USA have benefited of an exhorbitant privilege for 50 years of printing the world reserve currency. It seems this privilege comes with a price now, or that the FED is ready to employ the most ruinous means to preserve this franchise

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Beginning of the headline : The Fed's latest actions in cooperating with foreign central banks to undertake liquidity swaps of dollars for foreign currencies is another reason why Congress needs enhanced power to oversee and audit the Fed.Under current law Congress cannot examine these types of agreements.Those who would argue that auditing the Fed or these agreements with central banks harms the Fed's independence should reevaluate the Fed's supposed independence when the Fed bails out Europe so soon after President Obama promised US assistance in resolving the Euro crisis... Read More

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