Robert's Reviews > End the Fed

End the Fed by Ron Paul
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's review
Dec 20, 2009

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Read in December, 2009

Absent any special knowledge of economics, one senses Paul is right about the Federal Reserve's responsibility for inflating the dollar and about its being virtually omnipotent with regard to American - and thus worldwide - monetary policy. He makes a compelling argument that the introduction of the Fed has led to more - not less - volatility (my word, not his). There are many along with Paul who blame the "bubbles" and "crashes" of the last twenty years on the Fed's pro-growth policy - the distortion the markets via low interest rates caused by an ever-increasing money supply. I would appreciate a more in depth discussin of: (1) what would change if the Fed were eliminated or its powers restricted? (2) how would a gold-backed monetary system work, compared to how things work today? (3) what would the transition period look like? Maybe these questions are best left to economists - of all persuasions - to debate.
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