Alec's Reviews > The Case Against the Fed

The Case Against the Fed by Murray N. Rothbard
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's review
Jun 26, 2008

liked it
Recommended for: libertarians and people who think their money is "in" the bank
Read in June, 2008

I mean sure, fractional reserve banking may not seem like a gripping plot line, and in truth it is not. I imagine most people have not even considered What constitutes money? Or what happens to their money when they deposit it at the bank. Certainly, fewer have wondered what is the Fed and what causes inflation.

This book rallies behind the forgotten, hard-money, political ideals of Jefferson and Jackson. These ideals are in strong support of a gold standard and 100% reserve banking.

Banks and especially central banks are the sole cause of inflation. The money you make today will be worth 30% less 10 years from now.

I wanted to rate this book higher because the topic is important, but in the end the telling of it was a little flat. I would recommend reading up to the point you understand fraction reserve banking (and why it is bad) and skip all of the Morgan/Rockefeller connections, It would have been nice if the book had touched on the Fed funds rate and how that fits into the picture as well....

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