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Source link: http://archive.mises.org/10681/a-clear-conclusion-end-the-fed/

A Clear Conclusion: End the Fed

September 18, 2009 by

Ron Paul has waged a heroic battle for financial sanity since the inception of his tenure in Congress; and in End the Fed he gives us insights from that struggle available nowhere else. Dr. Paul had an affinity for the free market from an early age. FULL REVIEW


Jonathan Finegold Catalán September 18, 2009 at 9:17 am

I just ordered this book last night. I think that Ron Paul is gaining strength, although I truly hope that this manifests itself as a growth in the amount of “libertarian” (or, as close as possible!) politicians in congress. I was listening to his lecture for Campaign for Liberty live last night, and I noticed that he places blame on the business cycle on fractional-reserve banking (like Mises, Rothbard and others). Although I do not agree with pro-fractional-reserve free-bankers, have their arguments been taking into consideration?

Bruce Koerber September 18, 2009 at 10:08 pm

“America’s Great Depression” or will history repeat itself?!!!

Lost is not only the knowledge of the cause of the Great Depression but also the fact that Murray Rothbard was a phenomenal historian.

And the if that is not enough, what about his writing style which is thrilling and riveting?

There is no excuse for the members of Congress to be so negligent and to remain ignorant of history and economics.

Adam Sharp September 19, 2009 at 3:13 pm

I especially enjoyed Chapter 6 on Dr. Paul’s conversations with Greenspan. Fascinating stuff. This excerpt left me even more concerned over Bernanke’s reappointment:

“Although frequently annoyed, and more so as the years went on, he [Greenspan] never seemed quite as annoyed or dismayed as Ben Bernanke is with my questions.”

If BB does indeed have less understanding/sympathy towards the Austrian perspective than Greenspan, that doesn’t bode well for our monetary system.

Bill Ross September 20, 2009 at 7:57 am

Reality is the final judge and is and will determine final outcomes. Opposing reality is a costly endeavor. Reality is that we live in an action PRECEDES consequence reality. The dirty little secret of states is that they (by arbitrary decree) have severed the relationship between who chooses the action and who pays the consequence. Remember this when you see states making choices that cause great harm. These choices only appear insane from the perspectives of those who actually give a shit about the costs (predator profit) they impose. We are dealing with sociopaths (organized psychopaths). Always ask: cui bono.

Returning focus to the narrow “end the FED” issue. The FED is an institution whose real purpose and effect is to steal the fruits of labor of the productive (those who produce more than they consume) to the benefit of the greedy (parasites – those who consume more than they produce). The FED is a historical “accomplishment” of our predators. It has stolen 95% of the real value (measure in terms of commodities, such as gold or anything else real) of $US since inception in 1913. The trend is towards 100%. So long, USA and, perhaps, civilization.

It is human nature (reality) that we respond to incentives / disincentives. Whether or not we understand the nature of the force / frauds used against us is irrelevant. When the fruits of our labors and property are under threat, our survival (highest motivation) demands that we shift resources to defense, reducing productivity. This has been the root cause of the collapse of every past civilization, most recently, the former USSR. The US in on the same trajectory. Proof:


Our far wiser ancestors once created the civilization we are determined to destroy with the “rule of law”:


The objective values and knowledge that define ANY viable civilization have been rationalized away by falsely framed arguments of “fairness” and total subversion of the objective meanings of language, concepts, history, law and reality.

Collectively, we are idiots. The most costly tax of all is stupidity.

The above is not at all inconsistent with Austrian economics. It is the exact same conclusions expressed (IMHO) more succinctly, in less ambiguous, more provable terminology.

Bill Ross
(Electronics Design Engineer)

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