End the Fed, a new book by Ron paul

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investorzzo's picture
investorzzo
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End the Fed, a new book by Ron paul

Ron Paul's new book, End the Fed4 (out next month) illuminates the real reasons behind America's recent stunning economic collapse. The Federal Reserve would just as soon you not read it, and instead believe the standard refrains from the standard economists (including those at the Fed): "No one saw it coming! How could anyone have predicted it?"

http://www.financialsense.com/fsu/editorials/nystrom/2009/0819.html

End the Fed

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MarkM
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Re: End the Fed, a new book by Ron paul

Another one worthy of support.  If you are for change "within the system", put your money where your mouth is.

Money bomb for Dr. Rand Paul for Senate today.

http://www.randpaul2010.com/

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machinehead
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Re: End the Fed, a new book by Ron paul

This morning on CNBC, several commentators were discussing whether Bensane Bernanke would be reappointed as chairman. Their analysis was framed in media-driven terms -- the Fed is not 'popular' with the public or Congress, they claimed.

This may be so, but they didn't spend much time delving into the reasons why -- the Fed's high-handedness, secrecy, and above all, the fundamentally fraudulent and destabilising nature of unlimited money creation. They started to joke about how 'The central bankers are buying each other beers with printed money. Their printed money is still accepted, and they're getting beer in return for it.'

Robert McTeer, a former Dallas Fed chairman, stated that 'Every time the Fed purchases something, it creates money. If you buy a beer on a Fed expense account, it creates money. Printing money is nothing new. The issue is to expand the money supply at a rate appropriate for the economy.'

This sounds nice in theory. But the Federal Reserve, by Congressional mandate, has also taken on the task of macromanaging the economy. They goose the money supply when it slows down, and then they fail to withdraw the inflationary excess when it recovers. One might as well put an addict on an IV drip, and expect him to nicely manage his heroin consumption. Return the next day, and he'll be an overdosed stiff.

There is no convincing evidence that the Fed's legions of PhD Econs have added any value whatsoever in their 95 years of feckless tinkering. In all likelihood, they constitute a massive, Stalinist value-subtraction entity. Close them down, and feel the economy's sigh of relief.

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r
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Re: End the Fed, a new book by Ron paul
investorzzo wrote:

Ron Paul's new book, End the Fed4 (out next month) illuminates the real reasons behind America's recent stunning economic collapse.

Let's hope that End the Fed and other books about this Financial crisis will be as influential as Thomas Paine's Common Sense was during the American Revolution.

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