Review of Ron Paul’s End the Fed

Political Lore ^ | Shaun Booth

[DecoyJames]

"The central point that Ron Paul makes again and again throughout the book, is that not only is the Federal Reserve and the idea of a central bank bad economic policy, it is immoral and criminal. He repeatedly equates the lowering of interest rates with counterfeiting currency."

[DecoyJames]

Awesome!

[oldleft]

I wish people would do more research on Paul and the entire Austrian school of economics, which basically advocates the end of paper money and all fiat currency.

It's generally a stupid idea that flys in the face of Adam Smith because it would allow for the accumulation of wealth without economic growth and create disincentives to innovation.

But the Fed is a separate issue, and while I like the idea of a central bank I actually agree with some of the Dr.’s points.

[Alex Murphy]

Ping to read later

[SeeSharp]

He repeatedly equates the lowering of interest rates with counterfeiting currency

Sloppy journalism. What RP equates to counterfeiting is the printing of money - which is the the way the fed depresses interest rates. Tom Woods once theorized that the reason most people have such a hard time understanding economics might be because most people can't follow an argument containing two steps.