End the Fed

( 95 )

Overview

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 ...

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End the Fed

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Overview

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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Editorial Reviews

From Barnes & Noble
Former Republican presidential candidate Ron Paul (The Revolution: A Manifesto) isn't going to take it anymore. This irrepressible Texas congressman is tired of the Federal Reserve; so tired that he wants the central banking system of the United States dissolved pronto. According to Representative Paul, the Fed is corrupt, inefficient, and unconstitutional. In this high-spirited book, he shares the reasons why.
Publishers Weekly
At first glance, abolishing the Federal Reserve and returning to the gold standard seems a quaintly eccentric idea, but Texas congressman Paul presents a plan to eliminate our country's central bank, and return to a private banking system, that's both serious and plausible. The questionable aspects involve Paul's predicted results: not only will ending the Fed eliminate inflation (the government cannot print more money than it has gold reserves), but also business booms and busts, wars, income inequality, trade imbalances and the growth of government. Further, and perhaps most important, it would "disempower the secretive cartel of powerful money managers who exercise disproportionate influence over the conduct of public policy." Paul tends to gloss over those periods in history, including the Panic of 1907, in which private banking and the gold standard were law: "the bad reputation of nineteenth century American banking... is largely the result of... propaganda agitating for the creation of the Fed." With respect to "secretive cartels," Paul takes up the interesting question of whether J.P. Morgan is in fact preferable to Ben Bernanke. An engaging response to big-government solutions for the financial crisis, this knowledgeable and opinionated look at U.S. economics, from a firebrand public servant, should provoke much thought.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From the Publisher
"Rarely has a single book not only challenged, but decisively changed my mind. "
—Arlo Guthrie

"Everyone must read this book—Congressmen and college students, Democrats and Republicans—all Americans."
—Vince Vaughn

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Product Details

  • ISBN-13: 9780446549196
  • Publisher: Grand Central Publishing
  • Publication date: 9/16/2009
  • Pages: 224
  • Product dimensions: 5.40 (w) x 8.10 (h) x 1.00 (d)

Meet the Author

Ron Paul

Ron Paul, an eleven-term congressman from Texas, is the leading advocate of freedom in our nation's capital. He has devoted his political career to the defense of individual liberty, sound money, and a non-interventionist foreign policy. Judge Andrew Napolitano calls him "the Thomas Jefferson of our day."

After serving as a flight surgeon in the U.S. Air Force in the 1960s, Dr. Paul moved to Texas to begin a civilian medical practice, delivering over four thousand babies in his career as an obstetrician. He served in Congress from 1976 to 1984, and again from 1996 to the present. He and Carol Paul, his wife of fifty-one years, have five children, eighteen grandchildren, and one great-grandchild.

Ron Paul, the New York Post once wrote, is a politician who "cannot be bought by special interests."

"There are few people in public life who, through thick and thin, rain or shine, stick to their principles," added a congressional colleague. "Ron Paul is one of those few."

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Table of Contents

1 Why You Should Care 1

2 The Origin and Nature of the Fed 12

3 My Intellectual Influences 32

4 Central Banks and War 63

5 The Gold Commission 71

6 Conversations with Greenspan 80

7 Conversations with Bernanke 95

8 Congress's Interest in Monetary Policy 114

9 The Current Mess 123

10 Why End the Fed? 141

11 The Philosophical Case 149

12 The Constitutional Case 164

13 The Economic Case 179

14 The Libertarian Case 192

15 The Way Out 200

Suggested Reading 211

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Customer Reviews

Average Rating 4.5
( 95 )
Rating Distribution

5 Star

(61)

4 Star

(14)

3 Star

(10)

2 Star

(5)

1 Star

(5)

Your Rating:

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See All Sort by: Showing 1 – 20 of 96 Customer Reviews
  • Posted September 6, 2009

    I Also Recommend:

    Interesting, Informative, and Convincing

    For anyone who is interested in the expansion of government, bailouts, the Federal Reserve, economics, or our current recession in general, this book is for you.

    Normally when I read books I end up highlighting or underlining a couple lines every 10 pages or so. This book has almost every single page underlined. This book is so important to understanding the boom and bust cycle of our economy and our current recession.

    If you see this book and say, "This just looks a little to radical for me", believe me, after reading a couple pages you'll be chanting "End the Fed!" and questioning why this information is never brought up in the media or school textbooks.

    This books reads very well, despite economics not always being the most exciting subject, and is very important and informative. This book is also easy to comprehend if you're newer to economics.

    I'm not one of those people who would say, "Every American should read this book!" but truthfully if you want to be informed and knowledgeable about America's monetary policy and it's effects on our lives and economic cycles, read this book.

    Who would have ever thought a book about economics and the Federal Reserve could be such a page turner!

    7 out of 7 people found this review helpful.

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  • Posted September 18, 2009

    I Also Recommend:

    Historically & Philosophically Fascinating

    I was, obviously, expecting a good argument against the infection that is the Federal Reserve. What I didn't expect was how I got wrapped up into the historical aspect of the book.

    Paul takes a very expansive view of American economic history and shares it in an enjoyable manner. I got caught up in reading Ron Paul's personal history portion in which he tells the story of his take on sound money as he understood it as a young boy, working for every real penny, and how this was one of the seeds of his great interest in economics and liberty.

    I was challenged to stay on my toes during his transcripts of his exchanges with the Chief Banksters; Volker, Greenspan and Bernanke - listed successively in their increasing egregiousness, as evidenced by their foolish responses to Paul's very real and relevant questions to them.

    If I had to summarize the book, I'd say it drives deep the idea that the Federal Reserve is levying a much more insidious tax on Americans than most realize. The Fed does this through the debasement of our currency, their policy of forced inflation and it's effects on savings and assets valuations, through the funding of Federal wars and crimes, and how the connected elites use the all-too-willing Fed to propel their wealth into the stratosphere at the severe expense and prosperity of real people.

    I'd say, read it. Or listen. The audio version is very well done.

    3 out of 3 people found this review helpful.

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  • Posted February 24, 2010

    more from this reviewer

    I Also Recommend:

    Although End the Fed is not the most thorough book from a research standpoint, it can give someone who knows nothing about the fraud that is the Federal Reserve a taste of the truth.

    I am an Independent, and have been a Ron Paul for years. He tells Americans the [true] stuff that they don't want to hear, and that is why I respect him. He also addresses issues that most politicians won't discuss because they assume that their uninformed, 'drone' voters do not want to hear listen to it, or because they themselves are uninformed, or are slaves to someone else's political agendas. Anyway, back to the review. As far as the writing goes, End the Fed is, unlike some other quasi-scholarly books, very easy to understand. The research could have gone more in-depth, but I think that Congressman Paul probably wanted to keep his writing brief, so as to not lose his readers. It's an easy read; I think I read within a day. Overall, I would give the book 4 stars. As a side note, I have not read Ron Paul's other book, The Revolution: A Manifesto, but my Mom, a new Ron Paul "convert" says that it is worth reading.

    2 out of 2 people found this review helpful.

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  • Posted January 11, 2010

    A Fast Read

    In this book was a great chronological narrative of central banking and the correlating political initiatives. He makes the point the National Reserve System should be debated more frequently and more comprehensively. The book left me with the rhetorical question, "if central banking is indispensable and even unassailable politically, why?" I've yet to hear an explanation more convincing than his from his political detractors. Perhaps lazy convention precludes them from feeling the necessity of explanation. Perhaps they don't understand the question. I suppose it's much easier just to holler, "crazy man"!

    2 out of 2 people found this review helpful.

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  • Posted February 15, 2012

    Interesting Book....but...

    Ron Paul's End the Fed was an interesting book. The author did present his subject material in a clear and understandable way. I feel some of his critique of the Federal Reserve was valid. I too agree that the Federal Reserve is too autonomous and it should have more rigorous oversight by Congress. A thorough audit should be conducted as well. However, Paul made many statements without much substance to support them. It seemed to me that he pontificated at times, which made him appear as an ideologue. He also made some outlandish historical references...for instance (and I'm paraphrasing)refering to the mid to late 19th century absolutist European Empires as benign and truly decentralized while the democracies were very aggressive? Czarist Russia benign or decentralized? I don't think so. He also mentioned that states had the right to coin money? Where is that in the constitution? He also seemed to minimize child labor in a short statement in one of the earlier sections of the book. One thing the book did try to do throughout was equate the Federal Reserve with absolutist government. I think Mr. Paul took this agrument too far and with no real basis for his claim (slipery slope fallacy). It seemed to me that the theme of fear permeated the book. Furthermore, I am very doubtful that going back to the gold standard would be the best move for our country. Therefore, I give the books two stars..although I would have liked to have given it two and a half.

    1 out of 2 people found this review helpful.

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  • Posted February 20, 2010

    Where's the beef?

    There are some interesting and informative portions of the book, but I felt like he should have had more background for some of his statements. He came off as an idealogue.

    1 out of 3 people found this review helpful.

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  • Posted January 30, 2010

    more from this reviewer

    I Also Recommend:

    Everyone in America, especially sheep, lemmings and ostriches should read this.

    Ron Paul tells America what they should hear and what they should do to save our country from further financial decimation. If you still think everything's okay in Kansas, you need to read this book. He disrobes King Obama, Alan Greenspan and especially our current Fed Reserve chairman. These folks don't have your best interests at heart and Ron Paul is one of many folks proving it. He is not really a Republican at all. He is a modern patriot.

    1 out of 1 people found this review helpful.

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  • Posted November 21, 2009

    GREAT ECONOMIC IDEAS

    This book is an outstanding economic expose of an approach to our financial system in this country not espoused by either the Republican or Democratic parties. It touches on a method to develop an entirely different and more sound basis for our capitalistic way of doing business. Very thought provoking and really makes one consider economic alternatives in this depressed time for our countries economy.

    1 out of 2 people found this review helpful.

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  • Anonymous

    Posted October 8, 2009

    I Also Recommend:

    a plan to stop wasting our tax dollors

    "end the fed" is a fantastic bestseller by congressman ron paul that shows the american people in plain and simple english how the federal reserve is bankrupting this country and wasting our tax dollors this exellent book is a blue print for the voters of this country to audit the federal reserve and in the end close it down. great gift idea for a friend or family member.

    1 out of 2 people found this review helpful.

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  • Anonymous

    Posted July 24, 2014

    Lukas

    Hey gabe u herea.

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  • Anonymous

    Posted March 2, 2013

    Luke

    *rubs shampoo into your hair, grinning mischeviously*

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  • Anonymous

    Posted March 2, 2013

    Emma

    What are you planning I ask.

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  • Posted December 4, 2012

    I Also Recommend:

    Very good book, from a very admirable man.

    Very good book, from a very admirable man.

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  • Posted September 25, 2012

    I have to admit that I am a fan of Ron Paul and share a lot of t

    I have to admit that I am a fan of Ron Paul and share a lot of the same principles of his. Most people become followers of his philosophy after reading his book, but I hadn't read it yet. I met him during the primary debate in Rochester, Michigan, and that is what convinced me that I needed to read his book more than ever. I'm glad I did too, because this book is quite engaging, fun, and answers so many questions that I had about how the economy works.

    I am an artist/author/designer with a Master's Degree in Multimedia Communication, I am not an economist numbers kind of guy. So I was pleased that I could sit down and read a book that was written so most people could understand what the author is trying to explain. I knew from childhood that a gold-backed dollar was important, and I even wrote a paper on it in college. I wish I would have had this book then! I now understand what Fiat currency is and how the Fed is destroying our economic system.

    Whether you are a Paul fan or not, I'm sure you will enjoy this book. If you are a Keynesian fan, I would also like to recommend this book as a gateway back to reality.

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  • Posted September 18, 2012

    Created in 1913 by an act of congress, the Federal Reserve was s

    Created in 1913 by an act of congress, the Federal Reserve was supposed to regulate currency in such a way that America’s financial system would be much more stable. The actual result, according to Ron Paul, is that the Federal Reserve is the only entity in the country with the legal right to create money “out of thin air.”

    As America has drifted away from the “Gold Standard” and embraced paper currency, the value of the dollar can be manipulated by the Federal Reserve’s authority to simply “print more money.” But, as common sense should dictate, printing more dollars only makes the dollars you currently have worth less. The Federal Reserve has the government sanctioned ability to legally counterfeit money to finance whatever the government, or those banks that are in cahoots with government, want to do. Top that off with the frightening reality that the Federal Reserve is not accountable to Congress, nor anyone else. They cannot legally receive a full audit. And they do not have to disclose whom they pay “stimulus” or “bail out” monies to. When questioned by Congressmen, such as Paul, the Fed chairman will simply say it would be “counter-productive” to disclose where the money is going. Or as Paul states, what they are really saying is that it is “none of our business.”

    The end result is a financial system that is not only broken, but corrupt and immoral. Make believe “wealth” is propped up by the flooding of more dollars. Banks need not be responsible in their lending practices because of the Feds backing. Economic “booms” such as the recent housing boom give the illusion of financial success, until the bubble bursts. The banks are bailed out. The politicians are seen as heroes. And the common man loses his home.

    This book gives a good overview of what the Federal Reserve does, how our financial system worked prior to the establishment of the Fed, and how our world would look without it. The average American has no idea what the Fed is; and is frightened by any talk of changing the current broken system. Change, by nature, is scary. And this is how the Fed likes it. An uneducated and fearful populace is much easier to control. But according to Paul, it’s time to “End the Fed.”

    So what would replace the Fed? A true free-market system where supply and demand determine the value of money, rather than an intrusive entity with political interests. Noted economist Thomas Sowell, when asked what you would replace the Fed with stated that you replace it with nothing. As Sowell has said, “if you cut out a cancer, what do you replace it with?” According to Sowell, the Fed is a cancer upon our financial system. And he, like Paul, and a growing number of Americans, believes that the Fed should be abolished.

    Regardless of what one thinks of Ron Paul, he does often seem to make sense on economic matters. In End The Fed, he makes the constitutional and moral case for abolishing this dishonest entity. By quoting everyone from Economist Ludwig von Mises to the Lord Jesus Christ, Paul argues that the Fed creates “false measures” that lead to dishonest gain for the elite, at the expense of the average man, and future generations who will foot the bill.

    End The Fed will educate, enlighten, and inspire you. Regardless of where you come down regarding your opinion, you will have much more information for deciding your position after reading this short, but informative book.

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  • Anonymous

    Posted July 17, 2012

    Paul is a crank

    Wow. This guy is nuts. Too bad thee world isnt as simpke as he purports it to be.

    0 out of 2 people found this review helpful.

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  • Posted December 27, 2011

    Highly Recommend! A must read

    Highly recommended for anyone interested in understanding the relationship between economic liberty and personal freedom. This book presents a well-articulated case against the Fed. It also presents a well-thought-through explanation on how the ever-expanding money supply is the cause of the majority of our economic woes and transfers wealth from the common man to the elite minority.

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  • Posted October 4, 2011

    Excellent read

    Very well wrtten with facts to back it up. If you value liberty and freedom as well as the responsibilty that is required, then you will understand why we need to end the Fed. Ron Paul understands economics better that the so called experts that have confiscated the wealth of our country though inflation. I highly recommend this book to anyone opposed to tyrany and oppression. Many in media consider Ron Paul a "KOOK", but the truth is that he is one of few in a political position who uses sound reasoning to back up his positions. This book is NOT for someone who appreciates wealth confiscation and redistribution as the principals outlined within would completly undermine their efforts to control the actions and wealth of others. Knowledge is power and with this book, you will have an arsenal at your disposal to combat the misguided Keyensian economic terrorist that have dwindled the value of the dollar to less than 1/10th of its value prior to the Fed's creation. The Creature from Jeckyll Island has done nothing but concentrate the wealth within the hands of the elite who concocted this scheme a century ago.

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  • Posted September 10, 2010

    more from this reviewer

    A heartfelt treatise on eradicating the Federal Reserve

    Everybody cares about money, but do you really understand it? How much do you know about the Federal Reserve, the American institution that plays a profound but secretive role in steering the U.S. economy? Congressman and erstwhile presidential candidate Ron Paul believes that the Federal Reserve, not money, is the root of all evil. In his somewhat repetitious - and sometimes fearful - book, Paul holds the Fed responsible for wars, recessions, depressions, bubbles, busts, scheming politicians, overextended consumers and creeping socialism, and that's just in the first chapter. Libertarian Paul wants to rid the U.S. of the arrogant cabal behind the central bank and return the American economy to a truly free market-based and gold-based system. Although his conclusions may strike some readers as far-fetched, his reasoning is based on years of self-taught economics and legislative experience. While the opinions expressed are those of the author alone, getAbstract would suggest this book to his supporters and to non-Libertarians who would like to understand an alternative point of view.

    Read more about this book in the online summary:
    https://www.getabstract.com/summary/12428/end-the-fed.html

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  • Posted May 26, 2010

    I Also Recommend:

    Great Book Explaining Why Our Economy & Politics Are The Way They Are.

    As someone that has read other books by Dr. Paul I had a general idea I would like this book. This book was a great follow up to my read of Crash Proof 2.0 by Peter Schiff as it just reassured his points. I believe everyone of every political view should read this book. It does a great job explaining the moral, constitutional and the economical reasons the federal reserve system should be abolished and why inflation is a tool used to steal wealth from the middle class and poor. I highly recommend this book as well as a follow up read of Peter Schiff's Crash Proof 2.0

    Was this review helpful? Yes  No   Report this review
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