Dear Friends of RPI:
We wanted to send you directly this special essay on the Federal Reserve by Ron Paul. In this Ron Paul Special Report, Dr. Paul takes a look at the history of the Federal Reserve and the way it helps maintain the welfare/warfare state Please read on!
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Daniel McAdams
Director, Ron Paul Institute
'Two Percent Inflation' and The Fed's Current Mandate
Over the last 100 years the Fed has had many mandates and policy changes in its pursuit of becoming the chief central economic planner for the United States. Not only has it pursued this utopian dream of planning the US economy and financing every boondoggle conceivable in the welfare/warfare state, it has become the manipulator of the premier world reserve currency.
As Fed Chairman Ben Bernanke explained to me, the once profoundly successful world currency – gold – was no longer money. This meant that he believed, and the world has accepted, the fiat dollar as the most important currency of the world, and the US has the privilege and responsibility for managing it. He might even believe, along with his Fed colleagues, both past and present, that the fiat dollar will replace gold for millennia to come. I remain unconvinced.
Full article here: http://tinyurl.com/nc6y8c8
Watch the video of Ron Paul's speech here.
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'Two Percent Inflation' and The Fed's Current Mandate - Ron Paul Special Report
Wed, 28 Jan 2015 17:09:45 GMT
