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448 of 521 people found the following review helpful
5.0 out of 5 stars With this Ron Paul captured my imagination (at the time anyway) - updated on Feb. 11, 2014
February 11, 2014 Update:
My in-person discussions with many people make me believe this book's title is well-known while the content is practically unknown.
This book has nothing to do with whether the Fed should ease or restrict monetary supply. At its heart the book questions our government's balance of power and holds that a group of bankers is too...
Published on August 30, 2009 by Citizen John

versus
16 of 19 people found the following review helpful
3.0 out of 5 stars Good book but could be a little more accessible
Because I am a supporter of Dr. Paul and his political views I really wanted to like this book more. Unlike his previous The Revolution: A Manifesto, End the Fed seem to require a bit of work for those without an economic or finance background. I spent quite a bit of time looking up even basic terms I didn't know or concepts I didn't understand: fiat money, M2 or M3...
Published on December 5, 2009 by Anthony Chiodi


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448 of 521 people found the following review helpful
5.0 out of 5 stars With this Ron Paul captured my imagination (at the time anyway) - updated on Feb. 11, 2014, August 30, 2009
Verified Purchase(What's this?)
This review is from: End the Fed (Hardcover)
February 11, 2014 Update:
My in-person discussions with many people make me believe this book's title is well-known while the content is practically unknown.
This book has nothing to do with whether the Fed should ease or restrict monetary supply. At its heart the book questions our government's balance of power and holds that a group of bankers is too dominating. Meanwhile the political activities of Ron Paul and Rand Paul have often confused me and I cannot connect a lot of their positions with this book.
(end of update)
.....

The Fed is run by creditors. These creditors are not willing to transfer value to debtors by reducing the debt except in token ways. Instead the creditors force increases of the debt on the nation as the solution to most economic problems.

But there is a secret, however unlikely: we can in theory completely pay off the national debt by introducing U.S. Notes. Separately, the Fed could in theory be made to agree to forgiveness of the national debt that it holds.

End the Fed is the story of how the country ended up with a lot of debt not through informed choices but because of our money system.

In its first response to the global financial crisis, the Fed disbursed trillions in a secret manner. That money bought fire sale assets from individuals obliged to keep current with debt payments. That money saved Wall Street's bonus system and led to the debate over whether the Fed should tell us where the trillions went.

(Recommended reading: Declare Independence from Party Affiliation)

The Federal Reserve Act delegates money power to a private banking monopoly. Ron Paul introduced H.R. 833 to abolish the Federal Reserve System. This book reveals several consequences of the Federal Reserve System, many unintended and unforeseen.

The main counter argument to ending the Fed is that it would be a terrible mistake to give total money power to politicians. The late Milton Friedman offered an alternative to the current system which "might" satisfy a broader constituency. The U.S. in theory could have its own currency called U.S. Notes (instead of Federal Reserve Notes).

Friedman thought U.S. Notes could work if they were printed only to match population increase or else align increases of money supply to a price index. The system that Friedman talked about would leave physical money creation independent of political control IF it could be implemented. Currently, physical money is created through Treasury debt. When a dollar is created, it's an asset and also a liability that generates interest.

Friedman acknowledged that it may not be politically possible to take money power away from the Fed. Even after reading this book, I think Friedman was correct.

Under President Abraham Lincoln, money power was vested in the Treasury Department. If money power were returned to the Treasury, perhaps under Friedman's plan, the federal deficit could be COMPLETELY PAID OFF with physical Federal Reserve Notes while debt-free U.S. Notes could be introduced as the new money. This would favor debtors at the expense of creditors, and therefore no politician is going to support it. That's the Big Secret in a nutshell.

End the Fed cites interesting consequences of our monetary policy and fractional reserve banking. In this system, money comes into existence only through debt and is intended to create more debt that will lead to economic growth.

The Fed makes funds available for government spending in excess of what could sustainably be raised through direct taxation UNLESS the spending turns into a good investment.

Paul wrote about conflicts of interests between the powers behind the Federal Reserve and the American people. This is not a partisan issue. Ben Bernanke credits the severity and duration of the Great Depression to actions by the Federal Reserve. What is good for top bankers isn't equivalent to what is good for taxpayers.

I think the book's contribution is to energize new thinking about what we want from our government.
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574 of 677 people found the following review helpful
5.0 out of 5 stars Ron Paul Hits a Homerun, August 30, 2009
This review is from: End the Fed (Hardcover)
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!
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183 of 219 people found the following review helpful
5.0 out of 5 stars Economics 101, August 31, 2009
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This review is from: End the Fed (Hardcover)
Finally, a no-holds-barred, plain English explanation of the "Crime of the Century." Dr. Paul explains very clearly how the Federal Reserve has not helped our economy, but has virtually destroyed it. It's so clear, in fact, that maybe even our Congressmen and Senators will finally get it.

Economics 101: When you create more of something, the value decreases.

Economics 201: The Federal Reserve printing (Liquidity Injections) of Federal Reserve Notes (Dollars) has decreased their value.

Economics 301: The dramatic increase of Federal Reserve money printing in the last couple of decades has devalued our money and caused the current economic crisis.

Economics 401: The Fed is trying to solve the problem with more of the same thing that caused the problem.

Of course it's more complicated than this, and that's where this book is so important. Dr. Paul explains the history of the Fed, its relationship to modern wars and a myriad of other societal ills, the inevitable failure of a fiat currency and, more importantly, how we can get out of this mess.

The Federal Reserve system is nothing less than the most brilliant tool ever for the transfer of wealth and power from the average citizen to the wealthy and powerful, and we must rein it in to preserve our freedom. I know I must sound dramatic, but I can not stress enough the importance of honest, realistic, economic education. This book is a great first step. It should be required reading in all our schools.
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72 of 85 people found the following review helpful
4.0 out of 5 stars Buy it and read it, September 2, 2009
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This review is from: End the Fed (Hardcover)
For the record, I'm a fan of Ron Paul and I'm NOT a fan of "The FED."

The Pros:

*A short and easy read (it's a "one-day" book.)

*Contains countless statements of pure truth. For instance, discussing the expansion of the nation's money supply, Paul writes: "Noble intentions are always used to justify the inflation, but the real reasons are far more sinister. Those who get the control over the money are beneficiaries, not the people as a whole."

* Provides a priceless "inside the government" perspective of the FED's power to guide and corrupt foreign and domestic policy.

* Destroys the main arguments "in support of" the FED.

The Cons:

* The reader's understanding of basic monetary terms is often assumed. Example: "The prohibition of paper money was for convertible certificates." (Most books that are "economic" in nature are guilty of this. That said, "END THE FED" is more accessible than most books on this topic.)

* I hoped to see more emphasis on explaining the mechanics of the system (and the common terms) so the newbie could really "get it." Dr. Paul is 100% correct when he says: "Only an understanding of how the monetary system works can correct this problem and protect the victims..."

Overall, this book provides us another excellent weapon in the battle against "The FED." Buy it, read it, and share it with others.
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94 of 114 people found the following review helpful
5.0 out of 5 stars A blueprint for economic repair, August 30, 2009
By 
David Nelson (Salt Lake City) - See all my reviews
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This review is from: End the Fed (Hardcover)
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.
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27 of 31 people found the following review helpful
5.0 out of 5 stars What Time Is It? Time To "End The Fed!", November 8, 2009
This review is from: End the Fed (Hardcover)
I just finished reading the latest book from the great Dr. Ron Paul, Republican Representative from Texas' 14th Congressional District, titled <u>End The Fed</u>. With a title like this, it doesn't take a rocket scientist to deduce what Dr. Paul is advocating.

"Of course, Congress could abolish the Fed tomorrow if it wanted to. The Representatives' ignorance of economics, as well as the benefits they enjoy from irresponsible spending, prevent this." - p. 117

With President Woodrow Wilson's signing of the Federal Reserve Act in 1913, a central banking system was created. That system was granted the ability to create credit and money out of thin air, and to do so with no oversight whatsoever. The framers of that legislative piece of garbage, as well as current supporters, would have you believe it was created to provide liquidity in the market in times of financial panic. What it has really done is weaken the dollar by artificially keeping interest rates low and inflating the money supply.

"Artificially low interest rates are achieved by inflating the money supply, and the penalize the thrifty and cheat those who save.

Manipulating the money supply and interest rates rejects all the principles of the free market, and so it cannot be said that too free a market caused this mess. The market was not free at all. It was manipulated and distorted. Ironically, free markets and sound money generate low rates, but unlike the artificially low rates orchestrated by the Fed, the information conveyed is beneficial to investors and savers. Only the Federal Reserve can inflate the currency, creating new money and credit out of thin air, in secrecy, without oversight or supervision." - p. 133

Any kid that has collected sports cards of any kind will tell you, the more a card a printed, the less it's worth. The same principle applies to money. The more the dollar is printed with nothing to back it, the less it is worth.

"When the printing presses are available to the government and the banking cartel, they will use them rather than do the right thing" - p. 127

I could go on and on quoting the good Doctor and this great book, but you should really check it out for yourself. In my opinion, Dr. Paul put pen to paper and easily illustrates the ways the Federal Reserve has hurt the US dollar and the economy since its inception and why we as American citizens must petition our elected officials to "End The Fed".
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80 of 99 people found the following review helpful
5.0 out of 5 stars The Most Important Book of Our Generation, August 31, 2009
This review is from: End the Fed (Hardcover)
The Federal Reserve will no longer be just the name on the front of our dollar bills. Thanks to Ron Paul, millions of Americans are waking up to the true nature of this institution. Drawing on history, economics, and his personal experiences as a congressman, Dr. Paul shows us why the Federal Reserve cannot exist in a truly free and prosperous society. "End the Fed" is an interesting and engaging book that every American who cares about this country should read.
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38 of 47 people found the following review helpful
5.0 out of 5 stars Action Item for Freedom Lovers, September 4, 2009
By 
A. King (Ft. Worth, TX USA) - See all my reviews
(REAL NAME)   
This review is from: End the Fed (Hardcover)
Want your representatives and senators to get the message? Order extra copies of this book and send one to each congressperson...maybe even highlight some interesting sections. Think about it, if just 50 people from each state were to do this, imagine the impact when the senate offices are flooded with this book! Let's send them a MANDATE FROM THE PEOPLE!!

Oh, and by the way, the book is excellent.
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27 of 33 people found the following review helpful
5.0 out of 5 stars Educate yourself on monetary policy and you too will want to End the Fed!, September 7, 2009
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This review is from: End the Fed (Hardcover)
I think a major reason Ron Paul's books are so compelling and effective is because they quite literally give you an inside look at how our current system of government operates. I think most people remain indifferent because they simply don't realize how truly awful things are. Ron Paul first began shedding the light in his masterpiece, "The Revolution" and now he turns his attention specifically to the Federal Reserve Bank. I'll be honest and admit that since I understand Austrian Economics I went into this book with a bias and mindset already that the Fed should be abolished. But wow after finishing this book, the urgency and desire that I have to help see this vision come true, and have a sound monetary policy in line with the Founders and the framework of the Constitution to be restored to America has increased tenfold. End the Fed! And take the first step back towards true and sustainable prosperity.
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8 of 8 people found the following review helpful
4.0 out of 5 stars Great introduction to the case against the Fed, December 19, 2009
This review is from: End the Fed (Hardcover)
Ron Paul, anti-Fed crusader for nearly four decades, lays down his case -- his moral, political, and economic case against the Federal Reserve and why he believes it needs to meet the same fate as the Second Bank of the United States. (FYI, that was the hydra that Old Hickory slew in the 1830s -- back when the common man understood that central banks are the cruelest and most corrupt exploiters of all.)

This is a very concise and readable book. However, it should serve as an introduction only -- for more on this subject, I highly recommend MELTDOWN by Thomas Woods and THE CREATURE FROM JEKYLL ISLAND by G. Edward Griffin.

I docked a star because I thought the book could have been a little bit better organized and edited, but I still think it's very much worth reading -- especially if -- like many people these days -- you're just starting to question the Fed for the first time.
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End the Fed
End the Fed by Ron Paul (Audio CD - September 16, 2009)
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