Connect with us

Hi, what are you looking for?

Major Trade Flow – Investing and Stock NewsMajor Trade Flow – Investing and Stock News

World News

The Origins of the Federal Reserve

Where did this thing called the Fed come from? Murray Rothbard has the answer here — in phenomenal detail that will make your head spin. In one extended essay, one that reads like a detective story, he has put together the most comprehensive and fascinating account based on a century’s accumulation of scholarship.

The conclusion is that the Fed did not originate as a policy response to national need. It wasn’t erected for any of its stated purposes. It was founded by two groups of elites: government officials and large financial and banking interests. Rothbard adds a third critical element: economists hired to give the scheme a scientific patina.

This excerpted chapter from Rothbard’s History of Money and Banking is as scholarly as it is hair raising. This is one economic historian who fears not naming names and assigning blame.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Politics

After an interruption due mostly to my move to Spain, I’m pleased to be back in the saddle again, wrapping up my series on...

World News

The end of world dollar hegemony is coming and hardly anyone in government is taking notice or even understands what this means. Since the...

Politics

After an interruption due mostly to my move to Spain, I’m pleased to be back in the saddle again, wrapping up my series on...

World News

Most people are familiar with the Panama Canal, but they probably don’t know the first effort to build the Panama Canal, spanning almost a...