The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

The independent newspaper of the University of Iowa community since 1868

The Daily Iowan

Calling youth to end Federal Reserve

In November 2008, this country elected its first black president with a successful campaign due to the involvement of millions of young people.

Ron Paul’s latest book, End the Fed, begins by evoking a similar sentiment. He places both the future trajectory of his financial movement and his success on the 2008 presidential campaign trail to the youth of the nation. In a direct writing style, he lays out the problems with the Federal Reserve to convey why we should abolish the institution.

Paul is not a new name in the economic game. In and out of Congress since 1976, he has developed a political identity around a limited constitutional government and the Austrian School of Economics.

In Congress, he is often recognized for his consistent voting record, and he has been at the forefront of many Libertarian organizations. Currently a representative from Texas, he ran for the presidency in 2008. He raised $5.3 million during his campaign and had more web and YouTube action than his competitors. While he was not elected president, he claims that the campaign, much like his runs for president, was more about spreading his message than winning.

End the Fed is Paul’s eighth book, following the No. 1 New York Times bestseller The Revolution: A Manifesto. End the Fed is a timely book that focuses on the Federal Reserve and its supporters. The book is clearly presented, providing background on the history and nature of the Fed. Paul also cites his personal background, thereby validating his right to make such strong claims. He offers proof of his commitment to the cause by providing several transcripts of accusational dialogues with economic giants Ben Bernanke and Alan Greenspan. In addition to fleshing out the history and supporters of the Fed, he looks at his argument from various perspectives in an effort to cover all political bases.

Paul’s message is direct and simple. In the first chapter he writes, “It is my own view that ending the Fed would address the most vexing problems of politics of our time. It would bring an end to dollar depreciation. It would take away from the government the means to fund its endless wars. It would curb the government’s attacks on the civil liberties of Americans.”

Paul continues in this vein for the duration of the book. It’s this unyielding commitment to the message that is End the Fed’s greatest strength — but is also its greatest weakness.

He provides the reader with an uncompromising look at the failures of the country’s largest financial institution. He advocates that U.S. citizens overthrow the institution that, in his estimation, has gone unchecked for decades and has directly contributed to the financial crisis we are in now. He offers up a detailed solution to what he considers the most important issue of our time.

However, the lack of willingness to compromise his ideals can also be a turnoff. Paul is a politician, and this is a political book. Political success is often attributed to a broader platform. This “my way or the highway” attitude does not always endear the reader to support the message.

While the book has some faults, it is overall a thought-provoking read. If you’re looking for a less-common perspective on why we are in our current economic situation, this book provides you with history, details, and a solution. But whether you’re sold by the end is up to you.

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