ron paul

Ron Paul End the Fed: Why Do His Supporters Always Yell That?

by Christian Rice, Policymic.com  |  published on April 1, 2013

I never understood why Ron Paul and his supporters would rant (and chant) about why the government should “End the Fed.” But after reading that the Government Accountability Office’s first-ever audit of the Federal Reserve Bank shows $16 trillion in loans to private corporations worldwide, I became curious.

My curiosity eventually led me to the well-made YouTube video below. After watching, one can at least understand (although not necessarily agree with) the thought behind ending or reforming the Federal Reserve.

There are several arguments embedded in this piece, but the video explains them more thoroughly than I do and is certainly worth your time:

Argument 1: Secrecy

1. No one is allowed inside the Federal Reserve. Not Congressmen, the president, Supreme Court, CIA, or FBI. Not anyone.

2. This secrecy should not be tolerated by an institution which has the power to print U.S. dollars.

Argument 2: Corporate Influence

1. Big banks back the Federal Reserve because these banks can request loans from the Federal Reserve at low interest rates.

2. Many bankers and private shareholders sit on the board of Federal Reserve Banks (like JP Morgan CEO, Jamie Dimon).

3. The Federal Reserve is largely influenced and controlled by private corporations because of their interest in keeping interest rates low and increasing the amount of money loaned to them.

4. Government institutions should not be heavily influenced by private corporations.

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