21 September, 2009

Texas congressman wants to 'End the Fed'

USA Today
"The Federal Reserve should be abolished," writes Ron Paul, "because it is immoral, unconstitutional, impractical, promotes bad economics, and undermines liberty."

This is the thesis of Paul's End the Fed (Grand Central Publishing, $21.99, 224 pages), the Texas congressman's case against the Federal Reserve. The title was taken from a slogan that Paul heard chanted at various rallies and conventions, filling him with hope that monetary policy has become a subject worthy of popular protest.

Many people consider the Fed an "indispensable institution," but few know what the central bank actually does. For example, the Fed "can create trillions of dollars and distribute them to its cronies without congressional oversight," writes Paul, a former GOP presidential candidate.


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