End the Fed

Over 4,000 students gathered at the University of Michigan to hear Republican Party candidate Ron Paul speak. As he began to address the topics of monetary policy and the coming depression, a chant rose from the crowd, "End the Fed! End the Fed!" As dollar bills were lit on fire and thrown into the night skies, it became clear that the real problem, one that nobody in the media was talking about, was the central bank-an unconstitutional entity and a political, economic, and moral disaster.

Most people don't give a second thought to the Federal Reserve, but they should. In END THE FED, Ron Paul argues that the Fed is both corrupt and dangerously autonomous, inflating currency today at nearly a Weimar or Zimbabwe level. What most people don't realize is that the Fed is actually working against their own personal interests. Ron Paul's urgent appeal tells us how we went wrong and what we need to do fix America's economic structure for future generations.

Ron Paul's...

Publishers Weekly

At first glance, abolishing the Federal Reserve and returning to the gold standard seems a quaintly eccentric idea, but Texas congressman Paul presents a plan to eliminate our country's central bank, and return to a private banking system, that's both serious and plausible. The questionable aspects involve Paul's predicted results: not only will ending the Fed eliminate inflation (the government cannot print more money than it has gold reserves), but also business booms and busts, wars, income inequality, trade imbalances and the growth of government. Further, and perhaps most important, it would "disempower the secretive cartel of powerful money managers who exercise disproportionate influence over the conduct of public policy." Paul tends to gloss over those periods in history, including the Panic of 1907, in which private banking and the gold standard were law: "the bad reputation of nineteenth century American banking... is largely the result of... propaganda agitating for the creation of the Fed." With respect to "secretive cartels," Paul takes up the interesting question of whether J.P. Morgan is in fact preferable to Ben Bernanke. An engaging response to big-government solutions for the financial crisis, this knowledgeable and opinionated look at U.S. economics, from a firebrand public servant, should provoke much thought.
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Ron Paul, an eleven-term congressman from Texas, is the leading advocate of freedom in our nation's capital. He has devoted his political career to the defense of individual liberty, sound money, and a non-interventionist foreign policy. Judge Andrew Napolitano calls him "the Thomas Jefferson of our day."

After serving as a flight surgeon in the U.S. Air Force in the 1960s, Dr. Paul moved to Texas to begin a civilian medical practice, delivering over four thousand babies in his career as an obstetrician. He served in Congress from 1976 to 1984, and again from 1996 to the present. He and Carol Paul, his wife of fifty-one years, have five children, eighteen grandchildren, and one great-grandchild.

Ron Paul, the New York Post once wrote, is a politician who "cannot be bought by special interests."

"There are few people in public life who, through thick and thin, rain or shine, stick to their principles," added a congressional colleague. "Ron Paul is one of those few."