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| | Description | 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 where we went wrong and what we need to do fix America's economic policy for future generations.
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| | Product Details | | Author: | Ron Paul | | Hardcover: | 224 pages | | Publisher: | Grand Central Publishing | | Publication Date: | September 16, 2009 | | Language: | English | | ISBN: | 0446549193 | | Product Length: | 5.5 inches | | Product Width: | 1.0 inches | | Product Height: | 8.25 inches | | Product Weight: | 0.72 pounds | | Package Length: | 8.0 inches | | Package Width: | 5.4 inches | | Package Height: | 1.0 inches | | Package Weight: | 1.05 pounds | | Average Customer Rating: |  based on 485 reviews |
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| | Customer Reviews | Average Customer Review: ( 485 customer reviews )
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Most Helpful Customer Reviews
542 of 630 found the following review helpful:
 Ron Paul Hits a Homerun Aug 30, 2009
By L. H. Rockwell, Jr.
"Libertarian"
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!
395 of 459 found the following review helpful:
This is how Ron Paul stole my heart Aug 31, 2009
By Citizen John
I'm past the blame stage and eager to completely pay off the national debt within a two-to-three year period before introducing U.S. Notes. End the Fed is prerequisite reading for all Americans willing to start fresh in our lifetimes. The book is not a personal attack on Fed Chairman Ben Bernanke, a polished and well-mannered central banker helping big banks while fulfilling mandates essentially to create low-wage jobs.
End the Fed is the story of how we got into too much debt as a country and individually. Top bankers generally benefit from a system that requires ever-increasing debt to get economic growth and stave off financial collapse. Dr. Paul is telling us it doesn't have to be this way.
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. Since then we have witnessed a great struggle 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. Nothing has changed that - yet. At this point, the rest of us are getting educated about money power, leading to healthy debates and disagreements.
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, and then 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.
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 then used to create more debt. There is overreliance on debt which can benefit some but is bad for society and the nation. We need a way out of this.
The Fed makes funds available for government spending far in excess of what could sustainably be raised through direct taxation. Paul posits that our military engagements would not play out as they do if government had to pay by raising taxes. Also, our elected officials make these choices, not just the Fed.
Fed-led credit creation helped create a mortgage bubble. Then Fed Chairman Greenspan denied the mortgage bubble and encouraged mortgage equity withdrawals by homeowners. This turned out to be a trap for homeowners. Our system has cyclic financial bubbles, and the little guy always loses.
Paul wrote about conflicts of interests between the powers behind the Federal Reserve and the American people. This is not a partisan issue. Even Chairman Ben Bernanke blames the severity and duration of the Great Depression on the Federal Reserve. But blame doesn't get us anywhere. We need to rid ourselves of all that debt and we should resolve ourselves to pay it all off within two years.
Like Paul, I got interested in coins since they seem to have intrinsic value. I used to collect nickels. Some from the 1920s are circulating. They last because they're 75% copper and 25% nickel - very durable.
The aesthetics of holding coins is lost when you think about the debt created as a condition for their creation. So instead of assigning blame, we should focus on very quickly paying off or forgiving the debt itself, including the national debt.
I have an affinity for Paul and would take a bullet for him. At the same time, Dr. Paul is only one person facing an enormous set of major issues.
151 of 180 found the following review helpful:
Economics 101 Sep 01, 2009
By Bob Akimbo
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.
88 of 106 found the following review helpful:
A blueprint for economic repair Aug 31, 2009
By David Nelson
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.
66 of 79 found the following review helpful:
 Buy it and read it Sep 03, 2009
By Joseph Plummer
"WisdomFist"
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.
See all 485 customer reviews on Amazon.com
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