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Scary China s inflation is the residual effect of our inflation we are consumers to them no longer are we producing so what happens when China s bubble bursts it will in six months to a year, maybe two, just as our housing bubble burst within six years of its makingwe can t afford their commodities, and we are their strongest demandie look at all your kitchen product brand names Consider China s population and tolitarian state Consider its negotiations with the ME for a new currency, and perhaps Euro, as justifiably Greece just did today, rather than the dollar Consider Russia s disdain for the US, siding with Iran when the gold standard inevitably will come into play In the near, near future, China will need its money back Temporarily, for reassurance, in case the stimulas plan backfires which it will due to the FED s insistance on maintaining private ownership and insolvent deals with big corp they will be unable to justify, or pay back the US will soon heed to a Chinese eminent domain on American soil We will be unable to pay any of our debt, maybe some, but hardly sufficient And so the Chinese, along with Russia and the Middle East invade the US, maybe disguised,maybe notSo what then When the US is inundated with debt to our Chinese bank that depends on the dollar that no longer exists What happens when a business declares bankruptcy Long story short DMV sized lines for rice and water two five years Five seven years, US banks closed, gone Dollar is dead Banks shut down Civil unrest, not just in the US, but globally.Paul s point Edit the FED now, rather than later, because later, according to all the reputable sources he quotes, will mean the the United States will, indee become a third world country at best, if not bought state by state depending on each state s deficit, agriculture, resources,etc by other nations.At least the great depression wasn t global yikes The congressman, from what I gather, has no intention other than to inform, so his proclivity for honesty is seldom rebutted by the genius economists of our time, only rebutted by the right wing and the left note the dire need for health care reform Briefly as a cliffnot, health care will help lower our deficit and dependence on big business owned by guess who Global big business Personified by President Bush s new land ownership in South America Why would a former president purchase thousands upon thousands of acres in Paraguay The constitution had its merits, if only, claims Paul, we would have abided by it. An excellent, thought provoking yet brief enough to read in a day or two though some chapters you may want time to ponder and research book I was attracted to Ron Paul via his campaign for president in 2008 I believe I had heard of him before, but he was never in the forefront so his voice was muffled by the noise of larger candidates Of all the candidates 2008 he seemed to be the most grounded, the most sound in his arguments, and the least likely to fling the rhetorical BS His call for less gov t intrusion in our own lives as well as overseas struck a chord It definitely goes against everything we have been taught over the years about how our economy is the best in the world, or our educational system is the most sound, or how we are the lone superpower and have a duty to be the world s policeman The situation in 2007 8 seemed to fly in the face of all those old paradigms and I felt he was the only candidate speaking so frankly about breaking down those old paradigms we are all indoctrinated by from our parents, teachers, professors, co workers, as well as just friends and colleagues Ron Paul s popularity is finally starting to grow but it is not because of his natural charisma but because of his age old ideas of normalcy that founded our country The principles behind our Constitution were not gov t intervention into each and every corner of our lives or the world We need to respect the wisdom of those Founders because we have gone astray We have become a nation of dependencies and believing that there truly is wealth happiness that can be gained from thin air The very things are parents always taught us money doesn t grow on trees is simply being turned upside down by the very country and gov t we are supposedly protected by But that protection is a ruse when it encourages and allows our elected leaders to fleece us and rob Peter who has been working hard and earned his wealth to pay Paul who is wealthy already and doesn t need any I am not a full fledged Ron Paul ophile, yet But his call for throwing off the chains of the Fed and returning back to responsible economic principles of the free market and savings, is very appealing Imagine an actual return to those principles to get us out of these times yes, it will be painful at first instead of perpetuating and encouraging the very people that screwed us in the first place to continue doing so Something is bass ackwards about that beliefand hopefully Rep Paul and those he inspires in the future will open our eyes and come to our senses. His dominion is an eternal dominion his kingdom endures from generation to generation All the peoples of the earth are regarded as nothing He does as he pleases with the powers of heaven and the peoples of the earth No one can hold back his hand or say to him What have you done Nebuchadnezzar s confession Dan 4 22ff Ron Paul s, End the FED serves as a grand demonstration of God s providence ordering all things that come to pass He does not state this in the book However, in it, the truth is exposed about how the U.S monetary system has morphed into little than a house of cards ready to collapse at any moment Sin and corruption have led the way In a couple of places, Scripture is used to demonstrate the wickedness of the actions of the Federal Reserve and what happened in Biblical times when money became worthless The Scripture is used correctly something often not the case when politicians use it In fact, I don t recall ever hearing or reading what any other politician wrote or said who used the Scripture correctly Ron Paul traces the history of this fraud, demonstrates how such systems have always collapsed before its creation in the U.S in 1913, and points out who it is that suffers under the corruption the poor and middle class.He then draws out how it is the FED can be abolished and sound money established once again according to the Constitution that thing that all individuals serving in the three branches of government are sworn to uphold.This book is worth the time reading it Written in haste,Ron C. This helped me understand the difference between fiat money and what Paul refers to as sound money No doubt he s right that the Fed, like all powerful institutions, exists to concentrate its power further The most interesting idea to me is that when the Fed creates money i.e inflates the dollar the first receivers of the new money banks, government agencies, corporations can use it before it loses its value By the time it reaches the last receivers the average consumers its value has been lost because the market has realized inflation has occured Sound money in contrast requires no central bank because the money supply remains constant Virtually the only example of this kind of currency used consistently for the last 6,000 years is gold I m no economist, but it seems like all the money from all the economic recovery programs of the last year is still being played with by the first receivers as the Dow has surged and unemployment has climbed to 10% If those last receivers ever see the money and unemployment goes down, the dollar will lose value, and probably quite a bit of it People will find their paychecks don t buy very much, and their savings, as Paul would put it, have essentially been stolen by the banks, government agencies and biggest corporations.But this information can be found elsewhere, and I wouldn t recommend reading this for a concise explanation of such things Paul uses scare words like communism and totalitarianism and platitudes like freedom and self reliance to make his points He is clearly playing to a certain demographic of which I m not a member I obtained this book illegally, though, so I can t complain Libertarians only go halfway with their advocacy of freedom The state is only part of the system of oppression Private wealth has been concentrated in the hands of a few since it came to exist along with the state The two are inseparable and have become the hosts for unchecked technological progress that together threaten to do much worse than further disposses the majority The solution has nothing to do with the movement to end the Fed. not engaging writing style, badly written in general Content, while perhaps interesting in different prose, was not enough to redeem this book. This book is simply a repetitive declaration of Ron Paul s political position, not a detailed expository argument explaining his position There are no detailed examples or comparative analysis He might have a good reason why he disagrees with the Federal Reserve System, but it s not in this book Since it fails to even present its case, this book is ONLY for people who already support Ron Paul It s also poorly written. I have a new respect for Ron Paul He has done a lifetime of homework on this topic and obviously knows what he s talking about Paul titles his book with a demand End the Fed By the end of the book you ll support that demand as he does a convincing job in showing that our nation s economic problems are magnified and often even brought on as a direct result of the actions of the Federal Reserve Paul starts with a fundamental fact about the Federal Reserve, After all is said and done, the Fed has one power that is unique to it alone it enables the creation of money out of thin air This fundamental fact is the source of much mischief Indeed, says Paul, If you solve the money monopoly problem by ending the Fed, you solve many other problems too Essentially you take away from the government the capacity to use financial trickery to expand without limit It is the first step to restoring constitutional government Without the Fed, the federal government would have to live with in its means And yet the inflationary activities of the Fed have not only not abated, but are increasing exponentially The creation of new money with Tarp, Stimulus I and II and the rounds of qualatative easing has potential and probable catastrophic ramifications for our economy Paul write, This new money created by the fed between April 2008 and April 2009 now sit as reserves in bank vaults awaiting a safe environment for lending and borrowing Should that save environment arrive, we could see a level of price increases none of us have experienced in our lifetime We are starting to see this now with huge increases in the price of gasoline, food, and other commodoties like cotton Conveniently, the Fed no longer counts food or energy in it s calculations for inflation.We are being led from crisis to crisis but as Paul underscores, A point we learn is that crises have always led to greater centralization And this greater centralization leads to further crisis.Paul further states that In a capitalist economy, the prospect of failure imposes discipline and consumer service It is an essential aspect of the competitive marketplace, whereas a promise against failure given by the Fed to certain to big to fail corporations only entrenches inefficiency and incompetency This behavior only delays failure, and makes it, when it occurs, catastrophic.Paul also explains how the a central bank s ability to in effect counterfiet, makes wars deadly and longer lasting He writes, Might a diplomatic solution have been found for the struggles that led to WWI had the Germans and English not had recourse to the printing press as a lender of last resort He also gives a neat insight into the thinking of Ronald Reagan who said to Paul, Ron, no great nation that abandoned the gold standard has remained a great nation He exposes the fact that the chairmen of the Fed, know what they are doing For example here s what Alan Greenspan wrote in 1966 this is the shabby secret of the welfare statists tirades against gold Deficit spending is simply a scheme for the confiscation of wealth Gold stands in the way of this insidious process It stands as a protector of property rights If one grasps this, one has no difficulty in understanding the statists antagonism toward the gold standard But in 2005 as Chairman of the Federal Reserve, his tune changed Here s what he said in response to a question put forth to him by Congressman Ron Paul Would there be any advantage, at this particular stage in going back to the gold standard And the Answer is I don t think so, because we re acting as though we were NOT Paul does a good job of exposing the Federal government s complicity in the immoral activities of the Fed The Fed s inflationary policies enable government to pay for their extravegance without neccesarily having to raise taxes, as inflation is itself a tax Inflation is the most vicious and regressive of all forms of taxation It transfers wealth from the middle class to the privileged rich Notes Paul, Tyranny always goes hand in hand with government s wrecking of the money system Still, the Congressman is sadly optimistic that the current crisis will bring about changes because, 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 He exposes the Fed s role in creating the housing bubble, Artificially low interest rates are achieved by inflating the money supply, and they penalize the thrifty and cheat those who save They promote consumption and borrowing over savings and investing Manipulating interest rates is an immoral act It s economically destructive The Federal Reserve should be abolished, and here s Paul on why The Federal Reserve should be abolished because it is immoral, unconstitutional, impractical, promotes bad economics, and undermines liberty Its destructive nature makes it a tool of tyrannical government Ron Paul makes the case for ending the Fed convincingly, and I d recommend this book to any who are seriously searching for answers to the current round of financial insanity our country is experiencing Certainly, it is a cause that anyone, who desires greater transparency in government can ride, whether liberal or conservative, Democrat or Republican. Started great Very reasonable description of the Fed and reasons why it needs to be ended.This book is excellent The Audio CD reader is really great I LOVE his voice The vocal sound is just right Really brings out the best in Ron Paul s words Even though the ideas Ron Paul holds are fundamentally radical to the root , he makes them seem eminently reasonable and easy to hold by just about anyone He is quite a gentleman to his political opponents His tone in this book is such a contrast to the sarcastic one in Tom Woods Meltdown, even though many of the ideas, facts and analyses are the same or very similar.Book title came from a gathering in 2007 of 4000 students at Univ of Michigan to hear Ron Paul talk The students started chanting the phrase End the Fed The phrase, he claims, was not his, originally This book is a great follow up to that beginning.The history of the Fed presented in this book is really great to know.The history of money in the US before the Fed is also very, very informative The book explodes many myths that have built up about the Fed, money, gold, the great depression, free banking in the US in the 1800s, and many He does a good job of outlining what positive changes could come about by getting rid of the Fed, given a sound understanding of economics and history.The book talks about the excellent Austrian economists, Ludwig Mises, Friedrich Hayek, Murray Rothbard and others He also does a wonderful job of giving Keynes his due regarding his prescient writing about inflation early in his career, but also the terrible consequences of Keynes changes during the Great Depression He had some interesting things to say about Ayn Rand and her ideas.I enjoyed the descriptions of his personal experiences with such figures as Alan Greenspan, Ben Bernanke and Paul Volker, even though I was only partly impressed with his verbatim questions to the first two from his US House hearings participation.I liked the contrast he was able to demonstrate between the economic and intellectual climate in the country during his early career in the mid late 70s and the recent events leading up to and during the 2008 economic crisis and Presidential election.I did see some very minor errors, as well as a focus on the idea of a 100% reserve requirement for banks, which is not by any means an accepted Austrian economic idea He was clearly influenced greatly by Lew Rockwell and Murray Rothbard.Despite any minor flaws, I heartily recommend this audio book, if you are interested in any of the ideas, people or events mentioned above, and quite a bit. The greatest enemy of liberty is the privately owned central bank known as the U.S Federal Reserve, the operations of which are shrouded in secrecy When the Fed prints a new dollar, the value of each one in circulation goes down The Fed shouldn t be allowed to print money for the same reason you or I aren t allowed to counterfeit.The Tenth Amendment to the Unites States Constitution says that states aren t allowed to declare as money whatever they want Article 1, Section 10 No state shall make anything but gold and silver coin a tender in payment of debts The ability to create money out of thin air gives the government unlimited power, the scariest of which is to wage war Under a regime of sound money backed by gold and silver, government would have to pay for war, or anything else it did Since war is costly, heads of state would try to avoid it If war did start, governments would try to settle as quickly as possible As the author puts it, It is no coincidence that the century of total war coincided with the century of central banking Related News Nobel Prize Winning Economist Federal Reserve System is Corrupt and Undermines Democracy Recommended Further ReadingWhat Has Government Done to Our Money and The Case for the 100 Percent Gold Dollarby Murray N RothbardThe Creature from Jekyll Island A Second Look at the Federal Reserveby G Edward GriffinThe Case Against the Fedby Murray N Rothbard ^Download Epub ⇺ End the Fed ☔ 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 ReserveMost 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 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