End the Fed Book

The greatest enemy of liberty is the privately-owned central bank known as the U.S. Federal Reserve, the operations of which are shrouded in secrecy. When the Fed prints a new dollar, the value of each one in circulation goes down. The Fed shouldn't be allowed to print money for the same reason you or I aren't allowed to counterfeit.

The Tenth Amendment to the Unites States Constitution says that states aren't allowed to declare as money whatever they want. Article 1, Section 10: "No state shall…make anything but gold and silver coin a tender in payment of debts."

The ability to create money out of thin air gives the government unlimited power, the scariest of which is to wage war. Under a regime of sound money backed by gold and silver, government would have to pay for war, or anything else it did. Since war is costly, heads of state would try to avoid it. If war did start, governments would try to settle as quickly as possible. As the author puts it, "It is no coincidence that the century of total war coincided with the century of central banking."

Related News:
Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy

Recommended Further Reading:
- What Has Government Done to Our Money? and The Case for the 100 Percent Gold Dollar by Murray N. Rothbard
- The Creature from Jekyll Island: A Second Look at the Federal Reserve by G. Edward Griffin
- The Case Against the Fed by Murray N. Rothbard