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| Paul argues that "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."<ref name="Paul2009">{{cite book|author=Ron Paul|title=End the Fed|url=https://books.google.com/books?id=s3vkxGyQ-BQC|date=2009|publisher=Grand Central Publishing|isbn=978-0-446-56818-0}}</ref> | Paul argues that "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."<ref>{{cite book|author=Ron Paul|title=End the Fed (pdf)|url=https://ia902308.us.archive.org/20/items/pdfy-WHvRY_W83YNPF7Tv/End%20The%20Fed.pdf|date=2009|publisher=Grand Central Publishing|isbn=978-0-446-56818-0}}</ref><ref name="Paul2009">{{cite book|author=Ron Paul|title=End the Fed|url=https://books.google.com/books?id=s3vkxGyQ-BQC|date=2009|publisher=Grand Central Publishing|isbn=978-0-446-56818-0}}</ref> | ||
| In ''End the Fed'', Ron Paul draws on American history, economics, and anecdotes from his own political life to argue that the Fed is both corrupt and unconstitutional. He states that the Federal Reserve System is inflating currency today at nearly a ] or ] level, which Paul asserts is a practice that threatens to put the United States into an ]ary ] where the ], which is the ] of the world, would suffer severe devaluation. | In ''End the Fed'', Ron Paul draws on American history, economics, and anecdotes from his own political life to argue that the Fed is both corrupt and unconstitutional. He states that the Federal Reserve System is inflating currency today at nearly a ] or ] level, which Paul asserts is a practice that threatens to put the United States into an ]ary ] where the ], which is the ] of the world, would suffer severe devaluation. | ||
Revision as of 06:16, 18 October 2018
 First-edition cover | |
| Author | Ron Paul |
|---|---|
| Language | English |
| Genre | Politics, economics |
| Publisher | Grand Central Publishing |
| Publication date | September 16, 2009 |
| Publication place | United States |
| Media type | |
| Pages | 224 pp. |
| ISBN | 978-0-446-54919-6 |
| OCLC | 318878539 |
| Dewey Decimal | 332.1/10973 22 |
| LC Class | HG2563 .P384 2009 |
| Preceded by | The Revolution: A Manifesto |
End the Fed is a 2009 book by Congressman Ron Paul of Texas. The book debuted at number six on the New York Times Best Seller list and advocates the abolition of the United States Federal Reserve System.
Summary
Paul argues that "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."
In End the Fed, Ron Paul draws on American history, economics, and anecdotes from his own political life to argue that the Fed is both corrupt and unconstitutional. He states that the Federal Reserve System is inflating currency today at nearly a Weimar or Zimbabwe level, which Paul asserts is a practice that threatens to put the United States into an inflationary depression where the US dollar, which is the reserve currency of the world, would suffer severe devaluation.
A major theme throughout the work also revolves around the idea of inflation as a hidden tax making warfare much easier to wage. Because people will reject the notion of increasing direct taxes, inflation is then used to help service the overwhelming debts incurred through warfare. In turn the purchasing power of the masses is diminished, yet most people are unaware. Under Ron Paul's theory, this diminution has the biggest impact on low income individuals since it is a regressive tax. Paul argues that the CPI presently does not include food and energy, yet these are the items on which the majority of poor peoples' income is spent.
He further maintains that most people are not aware that the Fed—created (he asserts) by the Morgans and Rockefellers at a private club off the coast of Georgia—is actually working against their own personal interests. Instead of protecting the people, Paul contends that the Fed now serves as a cartel where "the name of the game is bailout"—or otherwise known as privatized profits but socialized losses.
Paul also draws on what he argues are historical links between the creation of central banks and war, explaining how inflation and devaluations have been used as war financing tools in the past by many governments from monarchies to democracies.
Critical reception
Charles Scaliger of The New American called the book a "must read." After an interview with Ron Paul about the book, Jon Stewart of The Daily Show called it "thought provoking" and "clearly from the heart".
References
- Schuessler, Jennifer (October 4, 2009). "Hardcover Nonfiction". The New York Times. Retrieved May 2, 2010.
- Ron Paul (2009). End the Fed (pdf) (PDF). Grand Central Publishing. ISBN 978-0-446-56818-0.
- Ron Paul (2009). End the Fed. Grand Central Publishing. ISBN 978-0-446-56818-0.
- Jekyll Island#Planning of the Federal Reserve System
- "A Review of "End the Fed" by Ron Paul". Thenewamerican.com. 2013-02-05. Retrieved 2012-04-16.
- "The Daily Show with Jon Stewart." Comedy Central. Broadcast: September 29, 2009.
- "Ron Paul - The Daily Show with Jon Stewart – 09/29/09 – Video Clip | Comedy Central". Thedailyshow.com. 2009-09-29. Retrieved 2015-12-02.
External links
- Amazon.com's book reviews and description
- Barnes & Noble's editorial reviews and overview
- OnTheIssues.org's book review and excerpts
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