I don't care for the originalist line of reasoning (i.e. "do you think people a hundred years ago ever thought that X would be done?") normally, but following it up by saying he's the first person to ever exercise this purportedly ancient authority makes it a lot more persuasive.

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SLAM. I like that Rep. Been in some 8 months now, and he does way more than long standing representatives.

hahahahah awesome. Is this the fed audit that Dr. Paul was talking about a week ago? Way to go Sen. Alan, I think I see the sweat thought that suit.

i was impressed by this guy and assumed he was just another rep. i read a little about his biography and wow, he's really been around. highest score in high school on a test out of 50,000 people. worked his way through harvard in 3 years. refused a get-rich-quick job on wall street. went back to school and got a phd in law. started a multi-billion dollar company. he doesn't seem like that kind of guy in these videos but i'm amazed

Props on the money tie.

I'm confused. Grayson (as well as the video description) calls this "lending" several times, but from what Bernanke said, it seems to be a currency swap.

European bank has euros, needs dollars. US bank has dollars. European bank buys dollars for euros. Both banks remain at the same balance as before.

That's how I understood it. Am I wrong?

^Bernanke is calling it a swap, but it's a loan. We give them money in the form of dollars, and they pay us back with interest in their currency, assuming they ever have the means to do so. The problem Grayson is having with it is in the insanely massive amount of money given out, at a time when the US really can't afford to be giving out that kind of money. 500 billion dollars to foreign nations works out to about 1700$ per person in America. Couldn't you use an extra 1700$ right about now?

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You can tell he's a trial lawyer. Would not want to be on the other end of his questions.

This dude is my newest hero

Intro to his official biography:

Our Congressman, Alan Grayson, grew up in the tenements in the Bronx. It was a hard life. He had to be a fighter to survive.

His parents were teachers. They made great sacrifices, to make sure that Alan received the best education.

Alan was a sick child. His mother took him to the hospital four times a week, for treatment. Without health coverage, he would not be alive today. He remembers that.

Alan rode the subway to school each day, and he worked hard. He was the valedictorian of his junior high school. By passing a test, he was admitted to an exclusive public high school. In high school, he achieved the highest test score among almost 50,000 students who took the test. Harvard College saw something in him, and admitted him.

For Alan, life at Harvard wasn’t easy. Alan cleaned toilets, and worked as a night watchman. Yet he earned a bachelor’s degree in only three years, with high honors, and he was Phi Beta Kappa. Alan graduated from Harvard in the top two percent of his class.

Ben Bernanke has quite a bio for himself too. I'm sure if these two guys worked together, a lot of problems could be solved.

HollywoodBob -- that's the same fallacy that Grayson brings up, and Bernanke addresses -- the credit swap with foreign banks did not affect credit availability for Americans

This is awesome... Accountability to give control back to our democratically elected bodies is desperately needed in the financial system.

It really highlights how much unelected committees in closed rooms are really running the world,

All it takes to stop them is for SOMEONE to give a shit and ask "you did what? and who gave you permission to do that? oh you made it up from twisting a nearly 100 year old law?"

Glad there are some politicians using their brain.

Alan Grayson 2016.

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