PRINT-End the Fed by Ron Paul

Ron Paul is not a scholar, and End the Fed is not a scholarly treatise. It is a manifesto for ending central banking. Everyone in this country should read it.

People are not aware of how the Federal Reserve robs from us, hurts us, and grows the government. Most people are simply ignorant of what it is that the Fed does. But if they knew, they would be very pissed. The Federal Reserve has managed to escape this popular wrath by being esoteric and mysterious. Ron Paul exposes the light on this secretive and shady institution.

Here are the basics you need to know about the Federal Reserve. The Federal Reserve creates money out of thin air in the exact same way that a counterfeiter does. This money then goes to Wall Street fat cat bankers, foreign governments, the federal government to finance wars, and what have you. The problem with this government sanctioned counterfeiting is that it is an act of theft. This is why counterfeiting is illegal. It robs the value of the dollars in your pocket and mine. This is known as inflation. Every dollar created makes the purchasing value of all dollars decrease. In essence, it is a hidden tax. The Fed only restrains itself by the knowledge that this ruse will be found out if they overdo it. Hyperinflation could be the result, and they can't hide that.

The worst thing the Fed does is lend help in creating bubbles. Bubbles are when a distortion occurs in the market as a result of those inflated dollars. Since they do not represent real savings or wealth, the recipients of those dollars get the wrong signal. It is like a pizza shop owner who gets an order for 50 pizzas, so he closes down his shop to fill that mammoth order. But the joke is on him when he finds out later that the order was merely a prank call. The result is that he has 50 pizzas he has to get rid of either by selling at a discount, eating them himself, donating to charity, or tossing in the garbage. This is what happens during a recession. It is when the damage is corrected. The Fed's answer is to pick up the phone again and order another 50 pizzas.

Ron Paul goes on with other criticisms of the Fed and solutions to the problems the Fed creates. Clearly, ending the Fed tops Dr. Paul's list, but he calls for a minimum an audit of the institution which may just happen. There is also talk of returning to the gold standard and repealing legal tender laws.

This is a fascinating book which I recommend highly. It is hard to read it and not grind your teeth in anger. The conclusion that you will reach at the end of the book is that we are a nation of suckers for allowing this central bank to exist. I am with Dr. Paul. End the Fed!!

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