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News Link • Federal Reserve

Congressional Lecture by Roger Garrison (sponsored by Ron Paul)...

•, By Daniel J. Sanchez
 “Rep. Ron Paul sponsored this Congressional lecture on “What Is the Fed’s Future?”, the final lecture in a three part series on the Federal Reserve System for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public. The lecture was delivered by Dr. Roger Garrison, Professor Emeritus of Economics at Auburn University.

Dr. Garrison’s lecture describes how the economic precepts on which the Fed operates are fundamentally flawed, making it only a matter of time before the Fed is the creator of its own demise. By contrasting the Keynesian macroeconomic theory upon which the Fed is based with the Austrian macroeconomic theory, what Garrison calls the capital-based framework, Dr. Garrison illustrates the market-distorting effects of the Fed’s actions on the structure of production. Using this comparison, Professor Garrison provides a simple yet comprehensive explanation of how the Fed’s monetary policy actions created the housing bubble and the subsequent financial crisis. He concludes by highlighting the bleak future for the Fed’s ability to manage the economy, and emphasizes the necessity of decentralized banking.”

1 Comments in Response to

Comment by Olde Reb
Entered on:

Geez. For an easier understanding of how the Fed is inherently fatally flawed (a Ponzi scheme) that will end with the entire wealth of the Nation owned by the (unknown) owners of the BOG, try RIP OFF BY THE FEDERAL RESERVE, or the one-page writing FEDERAL RESERVE HEIST,

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