Financial Freedom Report

At least we know how to benefit from this mess rather than get burned like virtually everybody else… One of the positions of Republican presidential candidate Ron Paul that mainstream pundits find “wacky” is his call to abolish the Federal Reserve System. Never mind that two Nobel Prize-winning economists — both libertarians — called for the same thing. And never mind that the Fed is the entity directly responsible for the debasement of the dollar over the many decades since the Fed was established. Both Milton Friedman and Friedrich Hayek called for the abolition of the Fed during their careers. While Friedman spent much of his life advocating externally imposed constraints on the Fed’s power to expand the money supply, his first wish was to have the Fed abolished, as he pointed out in a 1995 Reason magazine interview. In his book Denationalisation of Money: An Analysis of the Theory and Practise of Concurrent Currencies, Hayek advocated a free-market monetary system of competing currencies. Most Americans p