“Of all the blunders in American history, perhaps the greatest was the decision to put control of money and banking in the hands of a cabal of big bankers operating under the highfalutin title “Federal Reserve System.” Unfortunately, few among us know anything about the Fed, much less have any inkling of how badly it has damaged the nation. Without it we’d have a smaller government and economic stability.
And yet the Fed enjoys almost sacred-cow status. Most Americans have been led to believe that modern nations absolutely must have some government institution to “manage” the economy, provide money and credit, and control interest rates. Blinded by that notion, they assume that if we didn’t have the Fed, we’d be stuck in the horse-and-buggy age, plagued by terrible boom-and-bust cycles.” Read more.
Review of Ron Paul’s End the Fed
George C. Leef
Freeman, April 2010.
Via the Foundation for Economic Education.
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