Wednesday, March 9, 2011

Gary North on "How to End the Federal Reserve"

As a site member of Gary North's website, a reader of his books, and a reader of his writings, I am continually impressed with Gary North's work. He is not the best writer in the world, nor in the top 100 or maybe 1,000. But his work nonetheless has my respect, and has challenged me, too.

Here is an excerpt from his latest article on Lew Rockwell's website:
Will Ron Paul get such a law passed by Congress and signed into law? No. Does this mean that the FED is forever untouchable? No.

We need the following:

1. A wave of price inflation caused by the FED
2. A subsequent recession caused by the FED
3. A depression caused by the FED
4. A wave of outage in response to the FED
5. An endless series of criticisms of the FED

This will result, ultimately, in the abolition of the FED. Whatever replaces it will decide the economic fate of Americans: Congress (hyperinflation) or the free market (economic stability).

But could the free market replace the FED without a catastrophe following? Yes. We are already seeing this in another sector of the economy.

Read How to End the Federal Reserve System

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