Happy belated 88th birthday (20 Aug.) to the good doctor,1He served as a flight surgeon for the U.S. Air Force (1963–65) and the Air National Guard (1965–68). In 1968 Paul moved to Brazoria county, Texas, where he established a successful practice in obstetrics and gynecology. Ron “End the Fed” Paul.
This quote attributed to Dr. Ron Paul encapsulates how he rightfully represented his constituents as an eleven-term US congressman from Texas:
Moreover, in his book End the Fed, published in 2009, Dr. Paul wrote about the history of our central bank and provided reasons why it needs to be audited and then abolished, just like president Andrew Jackson did back in 1833.
President Ends Central Bank
Here are Andrew Jackson’s five reasons for ending the central bank:
- It was a dangerously centralized financial power
- It held an unconstitutional monopoly on finance that only helped the rich get richer
- It made the economy vulnerable to foreign and special interests
- It held too much influence over federal politicians
- It favored the North (where most financial centers were located) over the South and West
And Ol’ Hickory had this to say about our Republic’s second central bank, which he ultimately squashed, just as he said he would do:
Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!Andrew Jackson
FED’s Performance: Chart
Lastly, here is the abysmal performance of the FED, which was established in 1913 as our Republic’s third central bank: its fake/fiat currency has lost nearly 98% of its purchasing power.
- 1He served as a flight surgeon for the U.S. Air Force (1963–65) and the Air National Guard (1965–68). In 1968 Paul moved to Brazoria county, Texas, where he established a successful practice in obstetrics and gynecology.