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During the 2008 presidential campaign over 4,000 students gathered at the University of Michigan to hear Republican candidate Ron Paul speak. As he began to address the topics of monetary policy and the coming depression, a chant came from the crowd, 'End the Fed! End the Fed!' As dollar bills were set on fire, it became clearer than ever that the real problem, one that nobody in the media was talking about, was the central bank - an unconstitutional entity and a political, economic and moral disaster. Most people think of the Federal Reserve as an institution that has always been there and isn't going anywhere. But in END THE FED, Ron Paul draws on American history, economics and fascinating stories from his own political life to argue that the Federal Reserve is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put the US into an inflationary depression where $100 bills are worthless. What most people don't realise 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.

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The monetary event that prompted me to enter politics occurred on August 15, 1971. That Sunday evening, Richard “We are all Keynesians now” Nixon announced the U.S. government would default on its pledge to deliver gold to any foreign government holding U.S. dollars at the rate of one ounce of gold for each $35.

The chaos was dramatic. The dollar was sharply devalued, and price inflation became a major problem in the decade of the 1970s, as did steadily rising interest rates. But what impressed me most was that the Austrian economists who made predictions a long time ago were proven correct. It was the consequences of this event in 1971 that prompted me to decide on a lark in late 1973 to run for Congress in 1974.

书籍介绍

During the 2008 presidential campaign over 4,000 students gathered at the University of Michigan to hear Republican candidate Ron Paul speak. As he began to address the topics of monetary policy and the coming depression, a chant came from the crowd, 'End the Fed! End the Fed!' As dollar bills were set on fire, it became clearer than ever that the real problem, one that nobody in the media was talking about, was the central bank - an unconstitutional entity and a political, economic and moral disaster. Most people think of the Federal Reserve as an institution that has always been there and isn't going anywhere. But in END THE FED, Ron Paul draws on American history, economics and fascinating stories from his own political life to argue that the Federal Reserve is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put the US into an inflationary depression where $100 bills are worthless. What most people don't realise 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.