The Case Against the Fed
The most powerful case against the American central bank ever written. This work begins with a mini-treatment of money and banking theory, and then plunges right in with the real history of the Federal Reserve System. Rothbard covers the struggle between competing elites and how they converged with the Fed.
Rothbard calls for the abolition of the central bank and a restoration ...
The most powerful case against the American central bank ever written. This work begins with a mini-treatment of money and banking theory, and then plunges right in with the real history of the Federal Reserve System. Rothbard covers the struggle between competing elites and how they converged with the Fed.
Rothbard calls for the abolition of the central bank and a restoration of the gold standard. His popular treatment incorporates the best and most up-to-date scholarship on the Fed's origins and effects.
The contents of this volume include:
Introduction: Money and Politics
The Genesis of Money
What is the Optimum Quantity of Money?
Monetary Inflation and Counterfeiting
Legalized Counterfeiting
Loan Banking
Deposit Banking
Problems for the Fractional-Reserve Banker: The Criminal Law
Problems for the Fractional-Reserve Banker: Insolvency
Booms and Busts
Types of Warehouse Receipts
Enter the Central Bank
Easing the Limits on Bank Credit Expansion
The Central Bank Buys Assets
Origins of the Federal Reserve: The Advent of the National Banking System
Origins of the Federal Reserve: Wall Steet Discontent
Putting Cartelization Across: The Progressive Line
Putting a Central Bank Across: Manipulating a Movement, 1897-1902
The Central Bank Movement Revives, 1906-1910
Culmination at Jekyll Island
The Fed at Last: Morgan-Controlled Inflation
The New Deal and the Displacement of the Morgans
Deposit "Insurance"
How the Fed Rules and Inflates
What Can Be Done?
Murray N. Rothbard, the author of 25 books and thousands of articles, was a historian, philosopher, and dean of the Austrian School of economics. The S.J. Hall Distinguished Professor of Economics at the University of Nevada, Las Vegas, he was also Academic Vice President of the Ludwig von Mises Institute in Auburn, Alabama.