The Case Against the FED - by Murray Rothbard

The episode explores the origins and consequences of the Federal Reserve System, the central bank of the United States, with a particular emphasis on the criticism of inflation caused by its money creation. The author, Murray N. Rothbard, argues that the Federal Reserve allowed banks to fraudulently expand credit, creating a system of chronic inflation and boom-bust cycles. Rothbard traces the history of the American banking system, examining the birth of the central bank and the role played by powerful financial interests such as the Morgan family. Ultimately, Rothbard proposes a return to a gold-backed monetary system as the solution to the problem of inflation.