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on November 17, 2016
Very few Americans know that the Fed is a privately owned bank operating for its own profit. It is actually part of a banking cartel that is controlled by eight families. Our government has no control over them. Their actions have profound results on the American economy. The citizens lose since the Fed will always do what is in the Fed’s best interest.
Read this book. It is not a conspiracy theory but it gives you the facts. I will admit it seems impossible that our own government would allow this to happen to their own citizens. But the Fed is our government’s eternal debt machine. The congress pays ‘lip service’ to the debt but that is all windowing dressing for the American citizens
If you don’t read another book in 2017 make it this one. By the way, I am a part-time college professor and I teach economics. I have never found this information in a college textbook.
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on August 1, 2015
I have been meaning to read this book for years and am glad I finally did so. It is basically a monetary history of the United States.

The main event is the establishment of the Federal Reserve in 1913. Since then the dollar has lost 95 percent of its value. This means today's dollar is worth 5 cents in 1913 dollars and it takes about twenty dollars today to equal the value of a 1913 dollar. So the main purpose of the Fed has been to devalue the dollar through inflation. This has allowed politicians to spend endlessly to keep themselves in power while pushing the nation towards bankruptcy.

Other important events include FDR's confiscation of all privately held gold in 1933. What the government will confiscate in the next economic crisis to save itself we do not yet know. In 1971, Nixon was forced to have the United States default on its promise to exchange an ounce of gold for every 35 dollars, thereby taking the country off the gold standard. This allowed the Federal Reserve to print fiat money, meaning it could print as much money as it wanted. This has led to a national debt of $18 trillion and widespread economic and social disorder.

Paul believes the main downfall of the United States was the famous Supreme Court case of McCulloch in 1819. This was only 31 years after the US Constitution was written allowing only gold and silver money. The Supreme Court decided that the Constitution had "implied powers" letting Congress do whatever it felt was "necessary and proper" to govern the country. This meant Congress could basically do anything it wanted and led to its establishing the Federal Reserve and its nonstop depreciation of the dollar.

I believe the downfall came even earlier with the Marbury case where the Supreme Court also decided that only it had the power to decide what is constitutional, thereby giving its unelected members unlimited power over the elected branches of Congress and the Presidency, as well as all the states. This was the biggest power grab in American history and has allowed the court to overturn any act of any legislature and any act directly approved by voters it does not like. This is easy because the Constitution is worded broadly so the court can decide anything is unconstitutional. All of this has led to the spectacle of people breathlessly waiting to hear what policies these elite institutions have decided to impose on the country, while maintaining the myth that they are in control because they live in a "democracy."

Paul believes the artificial economic boom based on inflated fiat currency, which started in 1971, basically came to an end in 2000 with the stock market crash led by the tech sector. Since then the economy has struggled to improve and the average American has hardly prospered at all. The Great Recession of 2008 was basically caused by inflated dollars pouring into real estate. The bubble happened there because the federal government through the Community Reinvestment Act mandated that poor people, especially minorities, be given mortgages regardless of their creditworthiness. The subprime category was established to comply with this mandate. Paul rightly calls this affirmative action lending. The main factor in lending became race instead of ability to pay and credit history.

The United States is now obviously in decline and social disorder is spreading after a brief hiatus. Just look at places like Ferguson and Baltimore where the police were ordered to stand down and let the riots continue. Meanwhile the rioters were having a great time destroying property, taking selfies, and posing for television cameras. Resisting arrest has been basically decriminalized in the mainstream media.

It is apparent that the country is in the same "bread and circuses" stage as the declining Roman Empire. Today the bread is massive welfare spending and massive inflation of the currency. The main circuses are the biennial national elections which are the country's main form of entertainment. The elections are basically a ceremony where people pay homage to the myth that they govern. Meanwhile the real ruling elites such as the Supreme Court and the Federal Reserve make all the important decisions.
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on October 28, 2014
I'm not sure I agree with Ron Paul on all of his political perspectives, but one thing I for sure agree on is his view of Money and Currency!

The Federal Reserve is the monster inside every Americans' medicine cabinet, dark closet and under every bed. We can't escape it and yet we work harder each day to pay our taxes and bills and even when we think we are sort of getting a little ahead, we are drowning due to inflation from a debased currency. Most don't know how to deal with this monster, so we ignore it and hope our ignorance will keep us from being one of the more tragic victims.

However, make no mistake, we will all drown and be destroyed by this monster...except for the 1% at the top who will always and forever keep their pile of riches. And the amazing part, is that this monster is actually CREATED by that same 1% in order to enslave fellow Americans. If that fact alone does not make you furious and ready to go to war against the crooks in charge, then you are living in a fantasy and delusional denial.

Three families are destroying the US and they are using the Federal Reserve as their main tool. How? By giving politicians free money which they can use to spend on their projects and to effectively buy votes. So these three families leverage the power-hungry types by giving them money as a means to get them power. In return, the power-greedy politicians agree to tax future Americans by force, and give the profits back to these same families. It is an immoral scam, 100% unconstitutional, and yet it is the good ol' USA you live in right now! Feeling patriotic anyone??

Who are these three families who are secretly waging war against every man, woman and child in the US?

The Rothschilds (Bank of America), the Rockefellers (Citibank), and the Morgans (Chase).

What we will do to fight against these families who are content to drown the rest of us so that they can not only survive, but live in grandeur and luxury? This is exactly like 1917 Russia. Will we storm the bankers' palaces, strip them of power and cast them down? Or will we just give up and let them continue to drown us instead? Who among you will rise up and reject the status quo? Who among you will throw off the modern slave chains which now take the form of inflationary tax from devalued currency?

If any of you will stand up and say, "give me liberty or give me death", now is your hour to join the movement to ban the Federal Reserve. And it really is that simple. We don't actually even need to physically fight anyone. All we need to do is use the political channels to End the Fed. If you are up for this, this book will help you gain great insights. I highly suggest you read it.
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on April 6, 2017
Senator Paul shares a pointed and well documented view of the dangers of fiat economic systems based on Keynesian economic fundamentals and presents a sound argument for eliminating the dangerous, private, institution called the Federal Reserve Bank. Along with "The Creature From Jekyll Island" by G. Edward Griffin, this is a must read for anyone who wants to understand the truth about the Federal Reserve Bank, how it's in bed with our government and why, where our economy in the US is heading and what is needed to stop this freight train from rolling off the cliff. Eye opening and well written - easy to read and understand for anyone who wants to know the facts without spin and political misdirection. Straight forward, honest, scary, from the heart and written from the educated experience of a politician who knows the truth from the inside.
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on April 28, 2017
Already convinced, I bought the book to see what Dr. Paul had to say about the subject. Dr. Paul hits the nail right on its head! The government established under the Constitution of 1787 will soon collapse. As a soldier, I swore to "protect and defend the Constitution against all enemies, foreign and domestic." Only in later life did I begin to ask myself "What does a 'domestic enemy' look like?" The answer is simple - like Nelson W. Aldrich (Google him)! The evil he did is well-described in another book, "The Creature from Jekyll Island," by G. Edward Griffith.
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on September 10, 2013
I came across Ron Paul a few years ago when I saw him talking on TV, most likely CNN (considering he is an "Austrian," it must have been during his presidential campaign). I cannot recall exactly what was discussed, but he caught my interest.

The book is about MONEY, the forbidden issue in (American) politics and the FED, the visible hand manipulating money supply and interest rates.

The author starts, among other things, with the discussion of the origin and nature of the FED. He then shares his conversations with two Fed chairmen (Greenspan and Bernanke). At the end he proceeds to present 4 different cases for ending the Fed (moral, constitutional, economic, and libertarian).

I agree with him that the MORAL case should suffice. Nobody should have the right to redistribute the wealth by inflating the money supply. ECONOMIC argument only makes the already strong case even stronger. Loose monetary policies of the Fed coupled with various governmental policies distorting credit markets even further are responsible for malinvestments, which lead to boom-bust cycles, with the boom part being phony, artificial and the bust part being painful, real.

There are many good books on money and credit (and central banking). Ron Paul's End the Fed is one of them. I think it is well written and worth the time. It should help you in your search for the answers to issues you may have long been wondering about, such as:

a) What is the true role of the FED (or any central bank for that matter)? Why do we have to have it?
b) Why is low inflation - in the "modern" (political) sense of the word, that is, rising prices - good, even desirable and why deflation - falling prices - is such a menace for economists (those close to politicians anyway)?
c) Why is inflation - by the "old" (nonpolitical) definition, that is, expansion of money supply (money production) - necessary?
d) Where are the free market forces behind interest rates?
e) Who exactly are the beneficiaries of the (fiat) paper money system?

The whole idea of (fully) ELASTIC money and one institution having monopoly on it must seem DUBIOUS to every intelligent layman.
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on March 29, 2017
This is something that should be taught in history class. How the Federal Reserve, with the manipulation of free markets, protects the wealthy bankers while keeping the entire country in debt.
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on February 8, 2012
In "End the Fed", Ron Paul lays out the reasons that the Federal Reserve must go and a gold standard must return. Congressman Paul explains his reasons from Philosophical, Constitutional, Economical and Political standpoints citing the current mess we are in and have been in (albeit unknowingly for most Americans) since our fiat money system was instituted and we were removed from the gold standard. He argues that the Federal Reserve, namely chairman Ben Bernanke, while credited with "saving" us from an even more disastrous economy, is actually delaying the inevitable - a serious crash far worse than the Great Depression. Not only is he delaying it, but by continually printing more money into circulation, artificially adjusting interest rates creating bubbles in all markets and giving the false signal to investors and businesses to invest and spend in our broken economy, he is going to make the inevitable far worse than it could be if honesty and transparency within the market allowed change to happen now.

The idea of ridding the American people of the Federal Reserve is still not a super popular one, surprisingly. Many Americans will read "End the Fed" or similar titles, or listen all day to an expert discuss the reasons for abolishing it, and still say that it should stay. Their reasons are usually inane: What would we do for currency? We can't afford a bad economy (as if we don't currently have one). You can imagine the liberal's reasoning for keeping a large, overreaching, secretive, powerful federal agency around at the expense of future generations - nothing new. I assure you, the answers to all these questions are covered in detail in "End the Fed" if one is willing to carefully read the 200 pages with an open and unbiased mind.

I would strongly recommend everyone read this book. As Dr. Paul wrote, ending the "beast" is something that liberals, conservatives, libertarians, and populists can get behind, even if it's because of different motivations. Now is the time, every day the Fed operates is another nail in our coffin. Anti-Fed sentiment in this country is the absolute highest it has ever been since this central bank's conception in 1913. If we stick together and spread the word, that is the knowledge that is displayed within these pages, the Fed doesn't stand a chance.
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on January 9, 2014
I bought this book to better understand the negative influence of the Fed and to learn more about the Gold Standard. Ron Paul quotes Ayn Rand warning "that if you want to know when a society the money." He also quotes the Bible's "just weights and measures" verses. The Bible does state that altering the "quality of money is an immoral act." In Biblical times money was a precious metal and not something etched on paper by a King printed at will. Our Constitution is clear - no paper money. Logic tells us that only gold and silver should be legal tender (our money is no longer backed by precious metals.)
Ron Paul walks the reader through how we got into the mess we are in. "The current crisis, started in 2007 with the break in the housing mortgage market, is now in full swing and signifies the end of the fiat dollar reserve currency system." Economics 101 teaches us that at the current rate in which we are printing money there will be a price to pay called Inflation. "Inflation facilitates deficits, needless wars, and excessive welfare spending." He points out we are already Socialist in that the amount of money and interest rates are set for us. Today the successful are working to bail out the unsuccessful.
This book is a must read. It is a warning signal which everyone in Washington should be forced to read.
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on December 31, 2012
I would venture to guess that most Americans are not able to articulate what the Federal Reserve is, how it works, who runs it, or why it matters. So when the popular media suggest that the Fed plays a key role in ensuring stability and only crazies would suggest anything to the contrary, it's no surprise that the uninformed tend to agree. "End The Fed" is an easy to read overview of the Federal Reserve system and provides extremely valuable insights around the institution that just won't be found in textbooks or media reports.

This is a fast read that is very interesting and enlightening even for those who have a good understanding of the Fed. Ron Paul articulates in plain English the history of the Fed and addresses the issues clearly and in a fact based manner. As you might imagine by reading the title of the book, Ron Paul has strong views about the Fed but his use of references and parallels to other countries and historic events brings a high level of credibility to his writings. Highly recommended.
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