- Explore more great deals on thousands of titles in our Deals in Books store.
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
End the Fed Hardcover – Bargain Price, September 16, 2009
|New from||Used from|
Best Books of the Year So Far in fiction, nonfiction, mysteries, children's books, and much more.
Customers Who Bought This Item Also Bought
Special Offers and Product Promotions
From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
"Everyone must read this book--Congressmen and college students, Democrats and Republicans--all Americans."
Top Customer Reviews
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)
Paul's book is a polemic that makes certain statements. For example, "The Fed is run by creditors." This book discusses several consequences of the Federal Reserve System, many unintended and unforeseen. End the Fed is Paul's story of how the country ended up with a lot of debt not necessarily through informed choices but because of our money system.
(Recommended reading: Declare Independence from Party Affiliation)
Ron Paul introduced H.R. 833 to abolish the Federal Reserve System.
The main counter argument to ending the Fed is that it would be a terrible mistake to give total money power to elected officials. The late Milton Friedman offered an alternative to the current system which "might" satisfy a broader constituency.
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.
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.
*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 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.
Most Recent Customer Reviews
actually be accomplished.