Summary of End the Fed

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Rating

7 Overall

6 Applicability

8 Innovation

7 Style

Recommendation

Everybody cares about money, but do you really understand it? How much do you know about the Federal Reserve, the American institution that plays a profound but secretive role in steering the U.S. economy? Congressman and erstwhile presidential candidate Ron Paul believes that the Federal Reserve, not money, is the root of all evil. In his somewhat repetitious – and sometimes fearful – book, Paul holds the Fed responsible for wars, recessions, depressions, bubbles, busts, scheming politicians, overextended consumers and creeping socialism, and that’s just in the first chapter. Libertarian Paul wants to rid the U.S. of the arrogant cabal behind the central bank and return the American economy to a truly free market-based and gold-based system. Although his conclusions may strike some readers as far-fetched, his reasoning is based on years of self-taught economics and legislative experience. While the opinions expressed are those of the author alone, getAbstract would suggest this book to his supporters and to non-Libertarians who would like to understand an alternative point of view.

In this summary, you will learn

  • Libertarian leader Ron Paul’s take on why the U.S. Federal Reserve was created
  • How the Fed benefits banks, big business and the government
  • How the Fed destroys American society and its economic future
  • Why the case for ending the Fed is stronger than ever
 

About the Author

Congressman Ron Paul has represented his district in Texas for 11 terms in the U.S. House of Representatives. An outspoken Libertarian, he trained as a physician and ran twice for president.

 

Summary

Why the Fed?
The Federal Reserve, America’s central bank, exists to maintain a stable economy, to regulate banking organizations and to manage inflation. But its true purpose, one that no other institution in the U.S. can claim, is that it “enables the creation of money out of thin air...

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