Dr. Paul’s End the Fed
It’s been 10 years since the first publication of Ron Paul’s brilliant book End the Fed. Dr. Paul accurately predicted our future. He foresaw the trade wars, lowering interest rates to zero, and the growing push for a single global currency. Drawing from the theories of Austrian economists such as Murray Rothbard, Ludwig von Mises, and Henry Hazlitt, he increased our understanding of how financial crashes happen and why currency devaluation is the major cause. He gave us greater insight into how markets function. Ten years post-publication and End the Fed is as relevant as ever. Reading Ron Paul’s End the Fed will give you a sound foundation in economic principles that will rival that of the Keynsians and pragmatists that attempt to centrally plan the economy.
The Case Against the Fed
The Federal Reserve (the Fed) system can be confusing for the layperson. However, according to the Fed’s website, its purpose is to provide the nation with a safer, more stable monetary and financial system. End the Fed dispels with the notion that the Federal Reserve System does anything of the sort. Ron Paul presents a number of arguments that make a compelling case for ending the Fed:
The economic case: “…[W]ithout a free market pricing system, there’s no way to make proper economic decisions regarding supply and demand of products and services” (Paul, 180).
The philosophical case: Monopoly fiat currency allows for the Fed’s money manipulation which benefits some while harming others—with no ability for individuals to opt-out. It is immoral to redistribute wealth by force.
The Libertarian case: The cost of the illusion of government protection and security is directly paid by the loss of the liberty of the individual.
The constitutional case: Article I, Section 10: “No state shall…make anything but gold and silver coin a tender in payment of debts.”
Each case in Dr. Paul’s End the Fed includes sound logic and reason as to why the Fed must end. Dr. Paul’s eloquence shines through every page with brutally honest insights.
…[W]e have been conditioned that morality is on the side of the redistributionists who grab the moral high ground by arguing that they alone care for the unfortunate and are merely making the system fair (Paul, 154).
The two chapters documenting Ron Paul’s interactions with Alan Greenspan and Ben Bernanke leave the reader feeling especially uneasy and with a sneaking suspicion that even the Fed’s operatives understand the strength of Paul’s arguments. Yet, they defend the system. While reading the dialogue, you can sense Ben Bernanke’s dodgy evasiveness.
The interactions with Greenspan leave you more hopeful but unsatisfied. It’s as if Greenspan understands the validity of Ron Paul’s pointed questions. Instead of outright lying or playing the dodge-the-question game, Greenspan agrees with most of Paul’s premises but downplays Paul’s conclusions without commenting further—definitely an interesting read.
Ron Paul’s inspiring of millions of people has been absolutely revolutionary. For forty years now, Dr. Paul has maintained his principled stance in support of liberty. The Dollar Vigilante, Jeff Berwick, interviewed Dr. Paul on Anarchast back in 2017. Dr. Paul described the unusual manner in which he entered into politics and his views on the Fed. Berwick asked for his opinion on Bitcoin. It’s interesting to note that while Dr. Paul argues staunchly for us to get back on a commodity standard in End the Fed, he noncommittally responded that he didn’t know enough about crypto but he believes people should have a choice to transact and trade in any way they want. He remains a champion of the ideals of liberty and Voluntaryism in his work and his life.
Ten years after Dr. Paul’s End the Fed, we’re hightailing toward the Federal Reserve’s demise with more people waking up each and every day.
Read and study Ron Paul’s End the Fed. Come join us at Anarchapulco and learn about sound money, fractional reserve banking, and how the Fed and bureaucrats steal the purchasing power from every single person. Let’s learn it so well that we can effectively teach it to others. Join us in the Lovelution.