End the Fed

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Ron Paul: End the Fed (EBook, 2009, Grand Central Publishing)

electronic resource

English language

Published Nov. 7, 2009 by Grand Central Publishing.

ISBN:
978-0-446-56818-0
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OCLC Number:
462853341

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4 stars (3 reviews)

In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in END THE FED, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us …

3 editions

Review of 'End the Fed' on 'Goodreads'

3 stars

Ron Paul's assertions that the Federal Reserve and fractional reserve banking are immoral are unsubstantiated by this book. His missed a powerful opportunity to link his thesis that central banking necessarily leads to state control of capital to the exploitation of labor through devaluing their wages. He could really gain traction with unions with that message! Decent book, but a lot of noise around main messages.

Also, his overuse of the phrase "moral hazard" was fuzzy and distracting. Wikipedia says "In economic theory, a moral hazard is a situation where a party will have a tendency to take risks because the costs that could result will not be felt by the party taking the risk." Yet Paul used it to mean 1) believing the government will protect you from your own mistakes, 2) systemic injustice oppressing a class of people, 3) not interpreting government actions in the light of the …

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5 stars