End the Fed

I am certainly not an avid Ron Paul supporter by any means, and in fact I disagree with him on numerous points. But, I have respect for him because he is one of the only politicians who seems to actually, truly believe what he says. I really respect that, it's refreshing. He seems to be unswayed by lobbies, outside influences etc, and he has a fully-formed belief system. So I read this book. I find his argument somewhat extreme at times and I do not agree with every point he makes (though I do agree with a lot). BUT in any case, the book made me think. A lot. And I think that is what's important about it. Reading it added a whole new perspective to looking at the federal govt (and specifically the federal reserve) that I had never really considered before. I still don't agree with everything he says, but I applaud him for being in Congress and having the courage to say it. I'm very glad I read End The Fed, if only to make me think long and hard about beliefs I had. Even if you are not a fan of his or disagree with him, it's really worth the time just to get you thinking in some new ways.

The Fed had to act but distributed trillions in secrecy. We have to find out where it all went. Ron Paul introduced H.R. 833 to abolish the Federal Reserve System. He introduced H.R. 1207 to reform how the Fed is audited. This one has 282 co-sponsors! He's reaching for support with this book. End the Fed offers these approaches to our problems: live within our means, stick to the Constitution and make the legal tender of the country sound money. Like Paul, I got interested in coins since they seem to have intrinsic value. I collect nickels. Some from the 1920s are circulating. They're virtually indestructible because they're 75% copper and 25% nickel. It doesn't take much to own hundreds of pounds of nickels. Get $100 boxes at your bank neatly packed in rolls; one box weighs 22 pounds. Like Paul, I believe the U.S. Mint will make steel coins. Abuse of monetary power and its effect on our lives captured in one book is overwhelming, provoking outrage. The plan for the Fed to dramatically increase the size of its balance sheet (by trillions) to counterbalance the lack of asset carrying capacity of the public was beautiful in theory. It fell short, at least in part, due to corruption. They won't tell us where all the money went. This book shows the damage Fed secrecy caused over time. As author David Wessel warned, the Fed has become a fourth branch of government not directly accountable to voters. This book asserts that our military engagements would not have played out as they did if government had to pay at least in part by raising taxes. If we succeed and the Fed gets audited, investigations into the scandal could lead to a reconciliation process or if not, degrade our national solidarity. I feel Paul's arguments for ending Fed secrecy are irrefutable. I believe any thinking person will arrive at the same conclusion if they read the book. The Fed secretly placed trillions where wealth was concentrated, the big banks. Small banks were generally excluded. Money got routed through entities to pay politically powerful investment banks, where the public made good on unregulated derivatives bets. Were connected hedge funds bailed out? How much went for executive bonuses? Recall earlier concerns of whether Fed-led credit creation was creating a housing bubble. Then Fed Chairman Greenspan would only allow that in isolated parts things were "frothy." He denied the bubble and encouraged mortgage equity withdrawals by homeowners. This turned out to be a vicious trap for trusting citizens. Homeowners trusted the Fed. Later Greenspan insisted that one cannot spot a bubble before it bursts. We learned the Fed enjoys unlimited power to create and disburse money when circumstances become "unusual and exigent." Its battalions of $350K/yr economists decided to create public funds to make good on unregulated derivatives. This action saved the bonus system, making a hero out of Ben Bernanke. As background, AIG derivatives traders took the w

Ron Paul's "End the Fed" is equal parts an indictment of the Federal Reserve System actions in the last 96 years and a blueprint to repair the damage that the actions have caused. Unfortunately, the remedy can't be accomplished in half measures. Either the people audit the Fed and consqeuently destroy it, or future generations will be doomed to relive the central banking tactics that have proved Paul correct. We'll have just one chance to get this revolution right.

Andrew Jackson ended his Fed in 1836. Ron Paul can do the same for us, if we make it possible. Read this book and work to end the central economic and political evil in America, the central bank that fuels recessions and depressions, the warfare state, the redistributionist state, and the police state. End the Fed!