The Federal Reserve... and Oh-So-Much More
932161
Did you ever wonder about those scary banking terms that you always see on the news?  The scary ones that are too complex for you to possibly understand?  You know what I'm talking about, Federal Reserve, FDIC, bailouts, IMF, World Bank, etc.  Where does money come from?  What causes inflation and what are the effects?  All of the answers and explanations are in this book!

Unfortunately you'll also find the answers to these questions:  How can we conclude that bankers caused almost all the wars of the world?  Is it possible the Lusitania was a fully armed battleship when it was sunk?  Who's buried in John Wilkes Booth's tomb?  The author really has trouble focusing on the central banking issues, opting instead to bounce all over the place trying to link them to one historical conspiracy after another.

This book is a great educational source for the workings of central banking, currency, bailouts, and a host of other financial topics.  Just be forewarned that you'll get a lot of other stuff you probably didn't ask for along with it!
1118717
Book provided a  full detailed  explanation of the federal reserve in regards to the history, present, and possibly the future. It explains  why the federal reserve is detrimental not only from a financial perspective, but from a constitutional, moral, and even a religious perspective. He is correct about the fed increasing our debt and how the value of the dollar has increased over the past 100 years. A must read for any American citizen.
2644103
A terrific analysis of the Great Depression, specifically a quantitative account of stocks, bonds, money flows, currency markets, GDP, GNP, imports, exports, monetary policy, and much more, from 1929 - 1933, taking each year separately. The author also provides a descriptive narrative explaining the course of events to supplement the numerical data.

The truly remarkable aspect of the book is the detail. Mr Wigmore analyses the major asset classes separately, for each year. For instance, you learn that National City bank, in 1929, was trading at 120x P/E, 523% of book value, a 0.69% dividend yield and a 7.1% ROE. You also find out that in 1932 one could have bought IBM for 6x P/E, at 88% of book value, a dividend yield of 11.32% and a 15% ROE. For each class of security, you learn how they fared over the course of those four years 1929 - 1933. Municipal bonds, it turns out, were the preeminent investment, and after adjusting for deflation of 22% actually returned 50% in real terms from 1929 - 1932.

The course of money flows and prices is not looked at in a vacuum and detail is also provided on political and social events. It becomes clear that the Depression was a series of shocks and liquidations of various financial and social causes, leading to a self fulfilling decline. Stock prices, at their bottom in 1932, were on average just 11% of their 1929 highs. An interesting aspect of the book is the study of monetary policy. The author notes that the Federal Reserve pursued open market purchases of securities "which it used to a considerable degree and with appropriate timing". He cites security holdings expanding from $0.4bn in 1929 to $2.2bn in 1933. He also concludes that "the recovery in the economy, prices, and securities prices received little or no impetus from monetary policy."

This is an essential book for a student of the Great Depression.
3037510
As an attorney I was impressed with the documentation by the author of the  history of the development of the Federal Reserve. My undergraduate degree  25 years ago was in economics and I had to read much further to truly  understand how our monetary system was unnecessaryily based upon debt. Debt  is bondage and central banks as the heart of fractional reserve banking  hold the key to control of the world. If you do not believe this look at  the policies of the IMF and realize that economic imperialism through  central banking essentially controls the world today. A great companion  book to read is THE SECRET OF JEKEL ISLAND which explains our monetary  system in more depth, and the video CAPITAL CRIMES is an excellent 4 hour  treatise on the history of central banking beginning with the money  changers in the temple whom Christ confronted and ending with a brilliant  plan to gradually increase bank reserves while issuing Constitutional  "money" such that banks become mere vaults and the Federal  Reserve is put to rest.
4470483
Let me first say that I am not yet finished with the book.  I will finish tomorrow and update this post.  Also, please note that I am, as my son describes it, a "historically informed" investor.  I began reading everything I could get my hands on, with regard to monetary policy and investing, in 1975, and have never stopped.

The good news is that this book, at least for the first half, is well written and well informed.  There is a tone to it, almost a Michael Lewis tone, that makes it fun to read.  The bad news is that it will appeal to an audience that is already well informed about the details.  This book needs to be written and needs to be read.  Unfortunately, it will probably appeal to those least in need of the message.  I for one, however, am glad Danielle has written this book, and hope, by some miracle, that the circulation expands beyond the group that would be characterized as "preaching to the choir"

To Danielle, well done so far.  Thank you for placing the historical facts into a distinctly well written, concise narrative.  The Fed deserves more scrutiny and I look forward to finishing the book and reading your next one.
37510
Clearly written and easily understandable.  The authors do a great job of making a very complex system accessible to the average investor.  I highly recommend this book for anyone who is looking to understand the Fed and its movements and positioning, and how to apply this understanding to one's investment strategy.  The sports analogies are an added bonus and add to the reader's enjoyment (if you like sports!) and understanding.
3269366
Author G. Edward Griffin's book "The Creature From Jekyll Island: A Second Look At The Federal Reserve" is a most well researched and written historical text.  Griffin presents the background with almost an air of mystery that the reader must peel away, like layers of an onion, to reveal the truth.

The book provides, in great detail, the time, place, and manner  in which the groundwork for the Federal Reserve was laid, and more importantly, the reasons why.  Griffin explains why even the name is misleading.  The Federal Reserve is not a federal or governmental administration, and it is not a reserve, such as a  bank.

Also provided is great historical detail about the commerce and industry in our nation during the Nineteenth and early Twentieth Centuries.  This book will not disappoint the reader looking to expand his or her knowledge of how the collective financial machinations of our country are run.

I read this book during my undergraduate years and once presented the book in defense of a historical argument I had with one of my history professors.  Needless to say the professor looked at my reference (the book is so well researched), acceded to my contention, borrowed the book "for his own enrichment" and never gave it back!  I gratefully let him keep it so maybe he would soften his ascribed "socialist democrat" leanings.  Unfortunately I am sans the book this day.  Oh well, we march on.

As the topic of Civics is not really taught in public schools, or even required in undergraduate studies anymore, this book will serve to "illuminate" the reader into the background of how private finances and politics are inseparable.  My only criticism of this text is the highlighted aspect of a government conspiracy at work.  Not that Griffin's arguments have no merit, they certainly do, as Lord Acton so aptly is quoted "Power corrupts and absolute power corrupts absolutely!"  However, the mere aspect of "a conspiracy notion" is all the extremists on all sides need to "debunk" a truly great piece of historical research and writing.

I rate this wonderful book five stars.  It is well worth the money and deserves a place on the library shelf of every institution and the home of every student of history.
2376116
A brilliant analysis of the organizational, political, and economic structure of the Federal Reserve, its constituents, key participants, and personalities, all set against a historical background stretching from 19th century till date. Multiple books on the subject either vilify or glorify, but this book gives an objective review. The author takes apart the monolithic Fed, brick by brick, and reviews each of these aspects clinically. We understand how the functional Fed structure has gone beyond its legal structure, which will give us an insight on how it will evolve in years to come. At the end, the book delves into the possible reforms (pros as well as cons) that can correct the Fed structure for posterity. This book is a must read for finance, economic, and banking students.
2667785
This is one of the best books I have ever read on how to use Fed policy in making investment decisions. The authors grasp of the interworking of Fed policy and how and why various asset classes have reacted to Fed policy decisions was immeasurably helpful.

We have entered an era where central bank policies have an unmitigated impact on asset prices and we need to advance our understanding of the role and impact of central banks on portfolios. I recommend that anyone in an investment decision making capacity read this book.
2191269
I found this book rather enlightening. Most people do not understand the impact the Federal Reserve and its history of deceit has on the downfall we are experiencing right now.

I am saddened to see that many posters (notice the dates of their negative reviews) were sent here by Mark Levin, a pro-war, pro-federal reserve, pro-banker talk show host to try and discredit Ron Paul. This should give insight into his mentality. He'd see the world aflame if it meant more wars and more civil liberty violations, all hidden behind his rhetoric of believing in the constitution. Shameful.

Back to the book. I found it a great read. Opened my eyes and those close to me - who I lent the book to.

Ron Paul's "End the Fed" is equal parts an indictment of the Federal Reserve System actions in the last 96 years and a blueprint to repair the damage that the actions have caused. Unfortunately, the remedy can't be accomplished in half measures. Either the people audit the Fed and consqeuently destroy it, or future generations will be doomed to relive the central banking tactics that have proved Paul correct. We'll have just one chance to get this revolution right.
2733484
All i have to say is this book helps you start your journey into the world that is Federal Reserve, done  thru the eyes of a man who believes the FED causes most if not all our problems. I have never liked the Fed to start with so I'll of course of loved this book, especially coming from Ron Paul. But for someone who wants to start somewhere and learn about the Fed. This book is the Ticket.
3099171
For years those living outside the U.S. have perhaps held a bit of a grudge in that
billions of transactions around the world everyday benefit the United States even
when a consumer in the U.S. is not involved in the transaction.

Why the ire?

Billions of transactions converted in and out of dollars with profits retained by
the U.S. banking system.

An enormous advantage.

Barry Eichengreen reveals just how big this advantage is and why the party
may be losing guests as time moves forward.

Before the party however, was the creation of the Foundation of the party.

The Fed.

Eichengreen recounts the bizarre creation of the Federal Reserve that would
eventually allow the U.S. to not only be the central figure in world banking,
it would give enormous power to a razor thin number of banks and
bankers.

The tour of this history of money and banking is "must read" material.

The dollar gained great reserve currency status in the 1920's but at
the end of 1931, 40% of reserve currency worldwide were dollars while 50%
was in the GBP.

The Second World War shifted the course of history giving the banking
edge that continues to this day to the United States.

Eichengreen tells this history of banking and money at a pace as
crisp and fast paced as that of a piece of fiction you might bring on
the plane.

Exorbitant Privilege *is* a page turner.

How powerful the U.S. privilege?

88% of all non- US transactions were settled in dollars in 2004.

But then the dollar crashed.

To be sure the monopoly continues. The privilege goes on.

The Psychology of the Dollar however has changed and Eichengreen
says that at this point, it will be up to the United States that will
ultimately determine the fate of the dollar, even in light of the
growing power of Chinese currency.

An absolutely riveting book...

Kevin Hogan, Psy. D.
Author of The Science of Influence

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4071281
Andrew Ross Sorkin has given scope and arc to inside information involving both CEOs and the FED.  This book gives us a rare glimpse into the lives and ethos of some of the smartest, shrewdest and richest bankers that Wall St. has to offer.  His depiction of Fuld, Dimon and the rest seem to be spot on.  Several high ranking individuals in this book wonder how he gained access to lots of the information in this book.  His extensive research has paid off.  This is a great book and at a great price here on Amazon!
3859108
It has taken me longer than usual to read this book as its not in large print. I like about #14 or bigger print as I'm in the limited vision group.

But as for Congresman Paul he has been in congress a long time and has shown he has studied the banking system very long and well .He is well able to review the Fed and tell us it should be eliminated eventually. There are strong words but the fed has caused every one  in this nation a lot of greaf over secret control since we all have been
effected adversley over the years and I agree with Congressman Paul that the Fed should be eliminated.
Richard
1824762
These are not opinions, are facts, reports, documents who show the real and awesome Federal Reserve birth and purpose. Every One concerned with economics must read this information, a great contribution from Mr. Mullins.
3855229
It was a great book to understand the in's-and-out's of the Federal Reserve system and how the world banking systems operate. More details into the way investments work is however what is lacking for me. I would have also preferred conclusions based upon facts instead of conspiracy theories.
2335243
In these times of government mistrust, it only makes sense to add the Federal Reserve to the list with the CIA and NSA! Excellent fiction, I hope.
I'd like to have this President in office. Write another book with more of this Presidents' no BS attitude. Maybe a 2016 candidate will take note!