End the Fed by Ron Paul

CHAPTER 1

WHY YOU SHOULD CARE
Everybody thinks about money and almost everybody wants more. We use
money without thinking much about its nature and function. Few of us ask
where it comes from, who controls it, why it has value, or why it loses
value from time to time.
In the same way, most people accept the Federal Reserve—the manager
of the nation’s money stock—as an indispensable institution that the United
States cannot function without, and so they don’t question it. But I assure
you, especially in this post-meltdown world, that it is irresponsible,
ineffective, and ultimately useless to have a serious economic debate
without considering fundamental issues about money and its quality, as well
as the Fed’s massive role in manipulating money to our economic ruin.
What is the Fed and what does it do? To answer these questions, you can
read books, study pamphlets issued by the Fed, or attend economics lectures
at your local college. You can even consult the Fed’s comic books on its
own Web site. You will be told how the Fed serves to stabilize the
business cycle, control inflation, maintain a solvent banking system,
regulate the financial system, and more. Certainly, the Fed’s spokes-men
claim that they do all this and do it well.
I disagree on each point.
After all is said and done, the Fed has one power that is unique to it
alone: it enables the creation of money out of thin air. Sometimes it makes
vast new amounts. Sometimes it makes lesser amounts. The money takes a
variety of forms and enters the system in various ways. And the Fed does
this through techniques such as open-market operations, changing reserve

Leonard Pokrovski - End the Fed by Ron Paul (bigmoney.vip)