Congressman Ron Paul, Chairman of the Domestic Monetary Policy and Technology Subcommittee, announced today that the subcommittee will hold a hearing to examine sound money and parallel currencies.

"The American people have suffered for decades from the declining purchasing power of the dollar. The Federal Reserve has abused its position as the monopolist issuer of currency to enrich Wall Street and impoverish Main Street," stated Chairman Paul. "The Fed can effectively create money out of thin air with impunity, while creators of gold and silver currencies face jail time. This is a travesty. The only way to stabilize the economy is to return to monetary freedom by legalizing Constitutional money. Until the American people are free to choose the money they want to use, and not what the government forces them to use, the economy never will be truly stable and any recovery will be illusory."