Gary North posted an excellent treatise on money and central banking on lewrockwell.com. It’s an important read because it furthers knowledge about money and central banking, subjects that most college graduates know little about because the topics have not been taught in most American universities for decades, perhaps now nearly a century. If you do not understand money, how can you use it wisely?
Although North calls for “greater transparency” at our central bank, the Fed, I don’t doubt that if asked he would call for its abolition, as has presidential candidate Ron Paul. Insomuch as doing away with the Fed would require a much greater knowledge of money and how central banks corrupt monetary systems, North has done us all a favor by sharing his knowledge with us.
As for Ron Paul’s statements calling for doing away with the Fed, they have fallen on deaf ears for most Americans because they have no understanding of money and central banking. Actually, most people hearing Paul’s statements laugh, for they have been indoctrinated into believing that the Federal Reserve System is as much as part of our country as the Constitution. Nothing could be further from the truth. The Constitution’s framers knew well the dangers of central banks and fiat money monopolies.
If you study money and the Fed, and you will have an epiphany: the Fed is not only not needed, it is a cancer. Start with North’s article, and then order a copy of the late Murray Rothbard’s The Case Against the Fed. And while you’re ordering, get a copy of Rothbard’s What Has Government Done to Our Money?, which now includes Rothbard’s The Case for a 100% Gold Dollar.
All are short books, and I promise anyone who buys and reads them will have greater knowledge of money, our monetary system and the Fed than 99% of today’s college graduates.