Heritage: The Federal Reserve at 100: How Well Has It Done?

[TaftFan]

http://www.heritage.org/events/2014/...reserve-at-100

[KCIndy]

The Federal Reserve has done a DAMN GOOD JOB!!


....of devaluing the dollar by 98%

...of nearly wrecking the economy several times

...of greatly enriching the already wealthy banking companies who get to SELL money to the U.S. government at taxpayer expense

...of avoiding any semblance of responsibility or liability by fighting tooth and nail against any form of audit


.....that's off the top of my head in ten seconds. Anyone else care to add anything?

[Henry Rogue]

Well I guess it's nice the fed is at least being discussed. Unfortunately the discussion was how to make central planning work. While I was watching the video, the second speaker, the one with the dark brown hair and the glasses, reminded me of one of those scientist characters in a 1950s Sci Fi movie. He was the best of the lot IMHO.

[Carson]

Maybe it would depend on who you are.

A while back I heard there were only seven nations on the world left without being part of the global controlled network of central banks. The list had Iraq, Afghanistan, and Libya on it then. Now I think it is down to Iran, North Korea, Sudan, and Cuba.

[Ronin Truth]

What Has Government Done to Our Money?

Murray N. Rothbard

When this gem first appeared in 1963, it took the form of a small paperback designed for mass distribution. We've conjured up that spirit again with this special edition of Rothbard's primer on money and government.

Innumerable economists, investors, commentators, and authors have learned from this book through the decades. After fifty years, it remains the best book in print on the topic, a real manifesto of sound money.

Rothbard boils down the Austrian theory to its essentials. The book also made huge theoretical advances. Rothbard was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much.

The passion that Murray feels for the topic comes through in the prose and transfers to the reader.

Readers become excited about the subject, and tell others. Students tell professors. Some, like the great Ron Paul of Texas, have even run for political office after having read it.

Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.

Since Rothbard's death, scholars have worked to assess his legacy, and many of them agree that this little book is one of his most important. Though it has sometimes been inauspiciously packaged and is surprisingly short, its argument took huge strides toward explaining that it is impossible to understand public affairs in our time without understanding money and its destruction.

http://mises.org/document/617/What-H...e-to-Our-Money

http://library.mises.org/books/Murra...ur%20Money.pdf

[Ronin Truth]

• “The Creature from Jekyll Island“, by Edward Griffin (damaged file)
• Alternative link (pdf stored at Kp storage area)
• Amazon.com book link