The Case Against The Federal Reserve: from Murray Rothbard

[galtgulch]

here is the link to the youtube video:

http://tinyurl.com/qgontq

It is brief but is one of a series of videos which highlight excerpts from Murray Rothbard's The Case Against The Federal Reserve.

www.campaignforliberty.com 14May 5 PM 152555; 16May 152889

In the meantime the number of cosponsors of the HR1207 Federal Reserve Transparency Act grows and is now 169!

Here is a link to an article on the Myth of the Independent Fed:

http://www.lewrockwell.com/dilorenzo/dilorenzo147.html

gulch

Edited May 16, 2009 by galtgulch

[Christopher]

Errr... isn't this the same guy who seems to really be hyping his findings to an almost fanatical fear level?

The gross facts are actually quite interesting, and I appreciate his work. Unfortunately, he wasn't technically objective in his assessments of the Fed. He gave a vision, but it seems to lack quite some details on the mechanics of the pros/cons of having a Fed. In other words, there has to be some rationale behind the Fed other than conspiracy theory.

Christopher

[galtgulch]

Errr... isn't this the same guy who seems to really be hyping his findings to an almost fanatical fear level?

The gross facts are actually quite interesting, and I appreciate his work. Unfortunately, he wasn't technically objective in his assessments of the Fed. He gave a vision, but it seems to lack quite some details on the mechanics of the pros/cons of having a Fed. In other words, there has to be some rationale behind the Fed other than conspiracy theory.

Christopher

Chris,

Here is a link to a site where you may calculate the purchasing power of the dollar and how it has changed between any two years between 1774 and 2008.

http://www.measuringworth.com/ppowerus/

$24.55 in 1913 has the same purchasing power as $20 in 1774 (impressive consistency isn't it?)

$550.65 in the year 2008 has the same purchasing power as $20 in 1774

$448.55 in the year 2008 has the same purchasing power as $20 in 1913

$22.43 in the year 2008 has the same purchasing power as $1 in 1913

whatever the presumptive purpose of the Federal Reserve System is purported to be, maintaining the value and purchasing power of the dollar surely isn't one of them!

It is evident that the value of the dollar was maintained much better for a longer period of time without the Federal Reserve.

HR 1207 if passed would enable the citizens to know just what the Federal Reserve has been up to and might lead to a move

to abolish this central bank which is not authorized in the Constitution in the first place.

HR1207 has over 169 cosponsors thanks in part to the efforts of members of the Campaign For Liberty 152,849 who petitioned their congressmen to Audit the Fed.

Thanks to Ron Paul who proposed the Federal Reserve Transparency Act of 2009

Regarding your wondering what rationale there is for the Federal Reserve I suggest you read Murray Rothbard's The Case Against the Fed available at www.mises.org Hint: Interest is owed to the private banking cartel, known as the Federal Reserve, for their provision of the paper currency created out of paper and ink and loaned to the Treasury of the U.S.

gulch

Edited May 16, 2009 by galtgulch

[Brant Gaede]

While there has been gross 20th C. inflation, the above comparisons don't seem to account for the role of higher productivity making most things cheaper or technology making new things possible now affordable with left over dollars.

--Brant

Edited May 16, 2009 by Brant Gaede