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Ron Paul: End fractional reserve lending

greenspan

Here's another great video from Congressman Ron Paul.

Roll the tape....

 

 Great stuff, Congressman Paul.

 By the way, if you're interested in what the Federal Reserve does and why it was created, I have dusted off a series of old stories on the central bank I wrote two years ago.

The story, of course, is long one. In fact, when I wrote it, it turned out to be a six-part series.

But I wrote them because the truth is that very few people understand where the Fed came from, why it exists, and what it ultimately means for the dollar.

In fact, I always thought that this was kind of strange considering that the Fed Chairman is often touted as being the second most powerful person on earth behind the President. And yet, I don't remember spending more than 30 minutes on it school.

So when I began to really read about the Fed, I found it all to be pretty eye-opening.

Which is exactly, I think, what John Adams may have had in mind when he wrote the following long before the Federal Reserve ever existed:

"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation."

-John Adams

And that I guess is why I've decided to post them again in this blog.

After all, the massive decline in the U. S. dollar hasn't happened in a vacuum. And neither has the inflation that will come along with it.

So here are the six stories that first ran Gold World on September 20, 2006.

You may be surprised by what you learn.

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