In 1982, in response to the savings and loan crisis, Congressman Ron Paul spearheaded the creation of the US Gold Commission. He issued a minority report offering a pointed criticism of the regulatory and political mistakes that led to the crisis, and argued passionately for a return to commodity-backed currency.
This book is a compilation of the findings of that report—providing a comprehensive and detailed account of the history of currency and banking practices in the United States. Congressman Paul argues persuasively that the causes of inflation can be found in poorly enforced property rights, fractional-reserve banking, and the elimination of the Gold Standard. Written in response to a previous economic upheaval, Ron Paul’s arguments still resonate strongly today—and provide insight into the underlying causes of the more recent economic crisis.
ABOUT THE AUTHOR
An eleven-term congressman from the State of Texas, Ron Paul also attended Gettysburg University and Duke University School of Medicine. After graduating, he served as a flight surgeon in the US Air Force before moving to Texas—where he opened a private medical practice.
Dr. Paul first served in Congress from 1976 to 1984, returning in 1997 to lead the charge in Washington for limited constitutional government, economic freedom, lower taxes, and a return to commodity-backed currency. He currently serves on the House Financial Services Committee, the International Relations Committee, and the Joint Economic Committee.
As an accomplished scholar, author, and counselor to the Ludwig von Mises Institute, Dr. Paul is frequently quoted regarding banking, monetary and fiscal policy, and political economy. During his career in Congress, he has received many awards and honors for exemplary service and leadership.
About Ron Paul
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Published June 7, 2010
Business & Economics, Political & Social Sciences.