Hello. I am Deepak Kundu, an avid book reader and quotes collector. As a hobby, I collect interesting quotes from the books that I read.

This post is a collection of 22 quotes from the book - End the Fed by Ron Paul. I hope you find these quotes useful.

End The Fed Quotes

Everybody thinks about money and almost everybody wants more. We use money without thinking much about its nature and function. Few of us ask where it comes from, who controls it, why it has value, or why it loses value from time to time.

Everyone should have an intense interest in what money is and how it’s manipulated by the few at the expense of the many. Money is crucial for survival. It is necessary for maintaining a free society. A healthy economy depends on it. Limiting political power is impossible without it. Sound money is essential for preventing unnecessary wars. Prosperity and peace in the long run are impossible without it.

It’s my own view that ending the Fed would address the most vexing problems of politics of our time. It would bring an end to dollar depreciation. It would take away from the government the means to fund its endless wars. It would curb the government’s attacks on the civil liberties of Americans, stop its vast debt accumulation that will be paid by future generations, and arrest its massive expansions of the welfare state that has turned us into a nation of dependents.

The Federal Reserve System must be challenged. Ultimately, it needs to be eliminated. The government cannot and should not be trusted with a monopoly on money. No single institution in society should have power this immense. In fact, I believe that freedom itself is at stake in this struggle.

No firm in a free market should enjoy absolute protection against failure. A continued process of trial and error is the way that institutions achieve the goal of efficiency and soundness. Consider the Soviet case: to my knowledge, no business ever went under in the Soviet system, but society in general grew ever poorer. Think of that Soviet system applied to the banking industry and you have the Fed.

Some people claim that the Fed is nothing but a private corporation that is working to enrich itself at our expense. Other people claim that it is a government operation that works to provide funds for the government when it can no longer get away with taxing us. Neither opinion is precisely correct. Actually, the Fed is a public-private partnership, a coalition of large banks that are the owners working with the blessing of the government, which appoints its managers. In some way, it is the worst of both the corporate and the government worlds, with each side providing a contribution to an institution that has been horribly detrimental to American prosperity.

Imagine an irresponsible teenager with an unlimited line of credit. The parents, teachers, pastors, and authorities in his life are ultimately powerless to change his habits. Now imagine that teenager armed to the teeth and also immune even from the rule of law. This is what we have with a government backed by a central bank.

It was once thought that the government had to choose between providing guns or butter. Now, with the Fed, it is realized that no such choice is ultimately necessary. Politicians get together and agree to logroll so that each special interest is able to get what it wants. Guns, butter, and everything else under the sun, including endless bailouts of failing businesses as well as foreign aid for the world, are all provided courtesy of the money machine.

The longer we delay a conversion to sound money and away from central banking, the worse our crises will grow and the more government will expand at the expense of our liberties.

Dropping money from helicopters, as Bernanke once advised, if it ever became necessary, will guarantee that the dollar will be destroyed as so many other currencies throughout history have been. Just remember, dropping paper money from helicopters will just result in the money being blown away.

What the Fed and paper money have done for Congress is lead legislators to believe that there are no limits on what they can spend, on what they can propose, and what they can accomplish. They really do behave like college students on spring break who are using their parents’ credit cards with no limit. They don’t think about the money. They don’t think about who or what is paying the bills. The ability to do what they want is just taken for granted.

Everyone who wants to control the world, however, whether for the benefits of gaining wealth or power, must have control of the monetary system. It’s been that way throughout history. The greater the degree of freedom the people enjoy, the sounder has been the money. Tyranny always goes hand in hand with government’s wrecking of the money system.

The problem isn’t with the choices made by central bankers. The problem is that they possess the power to make any choice at all.

Prosperity can never be achieved by cheap credit. If that were so, no one would have to work for a living. Inflated prices only deceive one into believing that real wealth has been created. But easy come, easy go. It is fun when the bubbles are forming and many can live beyond their means; it’s a different story when they’re forced to live beneath their means in order to pay for their extravagance.

Nothing good can come from the Federal Reserve. It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.

Paper money, politicians, and central banks always fail the test of time.

There can’t be a more immoral system of money than one based on a banking monopoly that can counterfeit money in secret with no oversight and protection of the people. The moral argument against the Fed should be enough for decently well-informed people to dispense with it posthaste.

For generations, we have been brainwashed about the necessity of having a central bank to give us a currency that is elastic. We accept a rather bizarre idea with little question. Think about this seriously: if you need money, stretch it; that is, just print more of it. It’s as if we still believe that money can be grown on trees, and we don’t stop to realize that if it did grow on trees, it would take on the value of leaves in the fall, to be either mulched or bagged and put in a landfill.

People worry what would happen in a world without the Federal Reserve. My answer is that you would enjoy all the privileges of modern economic life without the downside of business cycles, bubbles, inflation, unsustainable trade imbalances, and the explosive growth of government that the Fed has fostered.

The worse the economy gets, the more power Congress is willing to grant to the Federal Reserve. Who would have ever believed that it would come to this? Trillions of dollars created and distributed by the Fed with no requirement to submit to any oversight.

The only unique power that the Fed possesses is the power to inspire and support the creation of new money out of nothing. Who needs that? Banks like it. Government likes it. High-flying financiers like it. But the people do not benefit—just the reverse.

We have a natural, God-given right to our lives, our liberties, and the fruits of our labor. Protecting those rights is the only role that government ought to have in a free society. To restrain the government from doing more requires a morally determined people willing to assume self-responsibility, rejecting dependence on government force to mold the economy, society, or individual behavior.