Many people are mystified by the kids at the Ron Paul rallies screaming “End the Fed!”
They ask themselves, “Why should we end the Federal Reserve? The Fed helps maintain economic stability right? Every country has to have a central bank. These “End the Fed” kids are nothing but “Paulbots.” The people on CNBC and Bloomberg tell me that the Fed acts in my best interest. I think the people on Bloomberg and CNBC ought to know what’s right for me and my money. Harry Reid is right. Those hard money people and kids at the Ron Paul speeches are nothing but a bunch of anarchists!”
But the main reason many people feel this way is because they fundamentally don’t understand what the “End the Fed” people are really saying and why they are saying it.
Monetary policy, QE, bond buying, bond issuance, taxes, the Treasury, fractional reserve banking, interest rates, the money supply, all seem maddeningly opaque. Most people just give up. If they try to understand what’s going on at all. And this is understandable. Monetary policy is a challenging subject. But it is not cosmological physics.
If only someone were to explain things in an understandable, straightforward way.
Well you’re in luck.
The below video does an excellent job of explaining the bulk of American monetary policy in simple terms. The graphics and language used are clear and easily understood. Jargon is kept to a minimum.
Invest 1/2 hour in the video. You will see how and why the Federal Reserve is at the very heart of our current crony capitalist economy. It will be well worth your time.