Book 41

End The Fed by Ron Paul

Type: Nonfiction, Federal Government

My rating: 5 stars (out of 5)

Why I chose it: I was highly anticipating the release of End The Fed, which could be the single most important book for Americans to read in 2009. With the economic crisis in full swing this book gets to the very root cause of how the country got itself in this mess and how we can get out of it.

What I liked about it: I first heard about Ron Paul in October of 2007. Around that time I began to research extensively to try to find fault in some of the things I was hearing him say, such as, we should end the Federal Reserve and we should end the personal income tax. Almost two years later my education, mainly in the area of economics and money, has been greatly expanded because of Ron Paul.

This book articulates in a very readable way for the not-so-financially-literate how the Federal Reserve is at fault for the economic mess we are in today. The book provides the necessary context to understand that creating new money out of nothing devalues all the other money in circulation which causes those dollars to be worth less and for the price of things to increase. It is the inflation of the money supply that later shows up in rising prices. Our dollar today is worth less than 5 cents compared to the dollar in 1913 when the Federal Reserve was created. Some might say, so what? How does that effect me? The deliberate inflation of the money supply and devaluation of the dollar essentially removes one's ability to save dollars. They must invest those dollars in more risky investments in order to try to preserve the purchasing power of the dollar. If 50 years ago your grandfather had enough money to purchase a brand new car and he saved those dollars in a can and gave them to you, you would probably have just enough money to buy the rims and tires only. It is worse for older Americans who are on a fixed income. They see the purchasing power of their dollars decrease every year.

This book provides the philosophical, constitutional and economic reasons that the Fed should be abolished. It also contains a plan for the restoration of sound money. The Federal Reserve System is a cartel of very powerful bankers. This system will not be dismantled without a fight. Americans can play their part by first understanding why the Fed is not a benefit to them or their families.

If you are interested in understanding the mess the country is in today, I highly recommend you read this book. Here are a few excerpts from it.