Book Club: End The Fed - Ron Paul
End the Fed is a comprehensive discussion of the Federal Reserve Banking System and why it’s problematic for the future value of the United States Dollar. The author, ex Senator Ron Paul, has an extensive history fighting for transparency in our central banking system (when he’s not advocating for its complete removal) and he makes a compelling case here in this book.
Regardless of your political views, the chances are extremely high you have no idea how central banking works. Henry Ford was quoted saying something along the lines of “If the American public actually understood how the banking system worked, there would be a revolution tomorrow”. So for that reason alone, I recommend reading this book and deciding for yourself what you think of central banking.
In an old post about bitcoin, I alluded to some of the potentially hazardous conditions being created by American monetary policy (over the past 30 years). The oversimplification is that we print a lot of money to pay our debts (print meaning create out of thin air), and historically every currency that has fallen into that pattern has collapsed to near worthlessness. Now there are several ‘this time is different’ type dynamics at play here, the main one being the US dollar is tied into the vast majority of transactions across the globe which enhances it’s strength and resistance to a complete devaluation. That’s all I’ll say here, read the book. At the very least you will be a more educated voter!
Another good read about the Fed, is “The Creature from Jekyll Island” if you are looking for more information.