30 review for The Origins of the Federal Reserve

1. 

   5 out of 5

   Mark Geise – Feb 03, 2016

   “The Origins of the Federal Reserve” by Murray Rothbard is a nice concise summary of the environment that produced the Federal Reserve. Rothbard does a good job to chronicle the agitation throughout the United States banking community that there needed to be a lender of last resort and a cartelization of sorts among the big banks. The banks and politicians knew that an outright central bank would be extremely difficult to justify to the American public, so they gradually built their way up to th “The Origins of the Federal Reserve” by Murray Rothbard is a nice concise summary of the environment that produced the Federal Reserve. Rothbard does a good job to chronicle the agitation throughout the United States banking community that there needed to be a lender of last resort and a cartelization of sorts among the big banks. The banks and politicians knew that an outright central bank would be extremely difficult to justify to the American public, so they gradually built their way up to the “independent” Federal Reserve System. Once you read this book, any Fed supporter will have a much harder time believing that the Fed was created to actually serve the American public. Rothbard describes the American public’s historical aversion to central banking and the political climate into which the Federal Reserve System was instituted. The Morgan and Rockefeller interests shadily promoted a central bank, using “non-partisan” academics and experts to promote the virtues of cartelized banking. They held monetary conferences in the Midwest to falsely insinuate that the push for a cartelized banking and monetary system was a grassroots effort by small business owners in the heartland, when in fact the attendees of these conferences were among the most influential in the Morgan and Rockefeller circles of influence. The 1907 panic precipitated more calls for banking and monetary reform, resulting in the creation of the National Monetary Commission to study banking systems in Europe. Not coincidentally, the commission was headed by Nelson Aldrich, the father-in-law of John D. Rockefeller. The large banks wanted a system in which they could coordinate inflation of the money supply and provide the “elasticity” that the banks needed in times of panic. Eventually, the idea of the Federal Reserve System, a decentralized system with the Federal Reserve Board at the center and twelve regional Federal Reserve banks, was born at a secretive meeting on Jekyll Island in Georgia and proposed to Congress by Aldrich. The rest is history. Murray Rothbard always does a great job of synthesizing lots of details into an easy-to-digest account of events. Though this book is only a bit over 100 pages, he packs a lot of information into that space. The Federal Reserve System was not created for the benefit of the average American; it was created for the benefit of the big banks that were able to exert the most influence over the regional Federal Reserve banks and have an avenue for coordinated inflation of the money supply. The calls for a lender of last resort and an avenue to conduct coordinated inflation were a long cry from the American tradition of sound money and relatively free banking, principles from which we have so far departed that it seems unfathomable that we will ever embrace them once again. The Federal Reserve System has worked to the benefit of big banks, just as they believed it would, and it has harmed the average American. It will come as absolutely no surprise to you that this has happened if you read Rothbard’s account.

2. 

   4 out of 5

   Jack Gardner – Aug 05, 2017

   Origins of America's Big Government History of the period when the founding fathers' vision for America was subverted as outdated and the progressive movement emerged. Basically, 1890 -- 1920. Economic confusions of academics, financial machinations of Morgan and Rockefeller interests, political favoritism and power grabs come together over three decades. Origins of America's Big Government History of the period when the founding fathers' vision for America was subverted as outdated and the progressive movement emerged. Basically, 1890 -- 1920. Economic confusions of academics, financial machinations of Morgan and Rockefeller interests, political favoritism and power grabs come together over three decades.

3. 

   4 out of 5

   Zinger – Jul 21, 2011

   If you want a short and concise book on the details, persons, and manipulations done by the incestuous banking families that pushed for a centralized bank which eventually led to the creation of the Federal Reserve, this is the book. Rothbard has done a lot of work and has several books available about the scam called the Federal Reserve. More people need to be aware of what the Federal Reserve is...a government approved cartel granted a monopoly on the counterfeiting of money.

4. 

   4 out of 5

   Scott –

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   4 out of 5

   Paul –

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   5 out of 5

   Emb021 –

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   4 out of 5

   Stefan Gleason –

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   5 out of 5

   Leonardo Andretto –

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   5 out of 5

   Gabriel –

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    5 out of 5

    Jakak –

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    5 out of 5

    Brendan Sebern –

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    4 out of 5

    Ardi Nursyamsu –

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    4 out of 5

    John Newcomer –

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    4 out of 5

    Zach Boyle – Apr 22, 2014

    Interesting history of the imperialist-central bank model in comparison to truly free markets.

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    5 out of 5

    Daniel Moss –

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    5 out of 5

    Aaron –

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    5 out of 5

    Christopher Hayden –

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    4 out of 5

    Scott –

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    5 out of 5

    Robert –

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    4 out of 5

    marrette –

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    5 out of 5

    Henock –

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    5 out of 5

    Geir –

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    5 out of 5

    Jenn Borgesen –

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    5 out of 5

    0 –

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    4 out of 5

    Marco De wit –

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    4 out of 5

    Brian –

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    5 out of 5

    Nick –

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    4 out of 5

    Wade –

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    5 out of 5

    Duncan Berry –

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    5 out of 5

    Grace –