Archives

Poll: 90% Say Fed Should Be Abolished

End the Fed, Save the Dollar: Ron Paul

By: Brian Beers

“Nothing good can come from the Federal Reserve,” writes Texas Congressman Ron Paul in his latest book hitting shelves this week, titled “End the Fed.”

“It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.”

Paul makes the case that the Fed is the main culprit responsible for the current economic mess the country faces through the destructive policies of cheap credit and excessive money printing.

“Prosperity can never be achieved by cheap credit,” says Paul. “If that were so, no one would have to work for a living. Inflated prices only deceive one into believing that real wealth has been created.”

The Federal Reserve, created in 1913, has been acting as the main central bank of the United States for nearly one hundred years. Many Americans are either not sure or not interested in what role the Fed plays in managing the economy. “The economic crisis has changed everything,” writes Congressman Paul.

Paul is currently pushing for passage of a bill, H.R. 1207, that would allow for an unprecedented audit of the Federal Reserve. The bill has 289 co-sponsors, and is gaining solid momentum in the House of Representatives.

Ron Paul

“The worse the economy gets, the more power Congress is willing to grant to the Federal Reserve. Trillions of dollars created and distributed by the Fed with no requirement to submit to any oversight” argues Congressman Paul.

Read Article

You must be logged in to post a comment.