Ron Paul: "The Fed created $15 trillion in the bailout process" and $5 trillion went overseas.

The Truth-o-Meter says: Mostly False | Did the Fed create $15 trillion during the bailout and send $5 trillion overseas?

For Texas congressman and Republican presidential candidate Ron Paul, the causes of this country’s economic problems are both simple and profound. The government spends far too much, and the reason it can get away with this lies in the power of the Federal Reserve Bank to create more dollars out of thin air. As this argument goes, this drives down the value of the dollar, which creates an invisible tax paid by every business and household. Paul often speaks of the recklessness of the Fed, and at a house party in Rochester, N.H., he backed up …

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