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Title: The Complete Idiot's Guide to the Federal Reserve by Lita Epstein, Preston Martin ISBN: 0-02-864323-2 Publisher: Alpha Books Pub. Date: 04 March, 2003 Format: Paperback Volumes: 1 List Price(USD): $18.95 |
Average Customer Rating: 3 (2 reviews)
Rating: 5
Summary: Understand How the Federal Reserve Works
Comment: mrbigbeast obviously disagrees with the purposes of the Federal Reserve, but he seriously misrepresents what is in the book. His political leanings are not unique, but the fact of the matter is that the Federal Reserve System is the central bank of the United States and was created by the Congress with the passage of the Federal Reserve Act in 1913. The Federal Reserve System includes the central governmental agency, the Board of Governors located in Washington DC with responsibilities to report regularly to Congress, and twelve regional Federal Reserve Banks that are corporations whose shares are owned by the member banks. There is an entire chapter explaning the New York Fed and its unique powers, as well as a second chapter explaining the other reserve banks.
Other chapters include Why Care About the Fed, How We Got a Federal Reserve, Fedspeak: The Secret Language of Money, and The Money Machine's Key Responsibiities. This book is an excellent overview if you want to know how the Fed works and how it impacts your daily life.
Rating: 1
Summary: A blatant whitewash.
Comment: Starts with the outright lie that the Federal Reserve is a government agency (it is actually a private corporation with government-appointed "decision makers"). Continues with farcical statements such as "the number one goal of the Fed is still to avoid inflation", while conveniently defining inflation as a rise in prices, rather than bloating of the money supply. Like every book and pamphlet ever written by a past or present Fed insider, this book meticulously avoids ever mentioning the Fed's single most important and most frequently abused power - that of creating new money at will out of thin air. Since one of the authors was a vice chairman of the Fed, you can forget journalistic ignorance as the excuse. The most important piece of information about the Fed was omitted purposely, with careful phrasing and organization. An omission this needless and this monstrous can only throw gasoline on the flames of conspiracy theories. One's hopes surge momentarily at noticing a section called "Let's be open" about open market operations. Nothing but varnish. Most Idiot books are OK. This one can serve only as quick primer on the knowledge which is non-essential to John Q. Public. Do yourself a favor. Look deeper.
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Title: Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider ISBN: 0671675567 Publisher: Simon & Schuster Pub. Date: 15 January, 1989 List Price(USD): $19.00 |
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Title: A Beginner's Guide to the World Economy : Eighty-One Basic Economic Concepts That Will Change the Way You See the World by Randy Charles Epping ISBN: 0375725792 Publisher: Vintage Pub. Date: 01 May, 2001 List Price(USD): $12.00 |
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Title: The Complete Idiot's Guide to Economics (Complete Idiot's Guide To...) by Tom Gorman, Chris Eliopoulos, Stuart Varney ISBN: 0028644921 Publisher: Alpha Books Pub. Date: 01 July, 2003 List Price(USD): $18.95 |
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Title: The Bankers: The Next Generation by Martin Mayer ISBN: 0452272645 Publisher: Penguin USA (Paper) Pub. Date: May, 1998 List Price(USD): $18.00 |
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Title: Dictionary of Banking Terms (Dictionary of Banking Terms, 4th Ed) by Thomas P. Fitch ISBN: 0764112600 Publisher: Barrons Educational Series Pub. Date: September, 2000 List Price(USD): $13.95 |
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