Book Review: “End the Fed”

Republican U.S. Rep. Ron Paul is not a fan of the Federal Reserve. The New York Times #1 bestseller, “End The Fed,” expresses his feelings about the United States central bank.

During a time of bailouts, national debt, and an expanding federal gov­ernment, Ron Paul’s new book will increase distrust with the central bank.

Paul explains how the Fed’s abil­ity to print money out of thin air has created the country’s soaring debt and given the risk of hyperinflation.

The congressman goes into detail about the current mess, describing that free-market capitalism was not to blame because the markets were never really free in the first place.

Paul explains the influences of his free market mentality, such as living through the Great Depression, discuss­ing the mistakes made by Presidents Herbert Hoover and Franklin Roos­evelt, and his belief in a gold standard.

He supports his belief in ending the Fed in his chapter “Why End The Fed?”

“The Federal Reserve should be abolished because it is immoral, un­constitutional, impractical, promotes bad economics, and undermines lib­erty,” Paul writes.

He discusses his position on the Fed, arguing with economic, philosophical, consitutional and libertarian angles. He defends each case with history and his personal beliefs.

Paul admits the title of his book is not his own, but rather 4,000 students from the University of Michigan. Af­ter a Republican presidential debate in Dearborn, Paul spoke in Ann Arbor. When he spoke of monetary policy the crowd began to chant “END THE FED, END THE FED!”

Ron Paul is a libertarian wearing the republican badge, and in his book he expresses his true economic beliefs.