(Melchizedek Communique, MC120209) A new book by U.S. Congressman Ron Paul, End The Fed, is highly critical of the so-called "Federal" Reserve.

The "Fed" in fact only prolongs the agony of economic downturns and does not "fix" anything. Central Planners are not the solution. Congressman Paul, for example, points to the Panic of 1819 which "ended peacefully precisely because nothing was done to stop it." Even Thomas Jefferson, reportedly, claimed the 1819 Panic merely eliminated fictitious wealth.

But as various tinkerers came along, the natural "forest fires" which cleaned out the overgrowths of speculation began to be artificially constipated. Result: prolonged queasy feelings. The "Great Depression" ought to really be called the "Great Constipation."

Congressman Paul predicts we are now "setting the stage" for hyper-inflation and a "worldwide depression worse than the 1930s." And the blame for this he lays squarely at the feet of the "Fed." The privately-owned creature routinely prints gobs of dollars, increasing the supply. With this new money, wars are paid for which otherwise the U.S. taxpayer would be hesitant to finance. In the final round of the continuous, ongoing "Federal" Reserve cycle, the "Mysterious Inflation" appears.

"The Fed today has ominous powers that Congress barely understands. There is essentially no oversight, no audit, and no control. And the Fed is protected by the Federal Reserve Act. That's why the Federal Reserve chairman has no obligation to answer questions that relate to Federal Open Market Committee meetings and actions taken in collusion with other central banks. Trillions of dollars can be created and injected into the economy with no obligation by the Fed to reveal who benefits. Lawsuits and freedom of information demands will not shake this information loose. Arrogant is a mild word to describe the attitude of those who control our monetary system."

Congressman Paul blames former "Fed" chair Alan Greenspan for planting the seeds which erupted in the financial panic of 2008. The answer, says Paul, is not to inflate even more, as the Obama/Bernanke administration is doing. This only makes the inevitable collapse of the Tower of Babel so much worse.

If we continue to pursue the policies of the Obama/Bernanke decision makers, what Congressman Paul asserts is in fact an economic depression will likely continue for up to a decade, or even longer. If, instead, we had allowed the brush fire of 2008 to naturally eliminate fictitious wealth, then at this point we would be vigorously employed, picking up the pieces.

But rather than this, we are given continuous "Prosperity is just around the corner" updates, as if we are all horses chasing a dangling carrot tied to our hats and hanging down before our eyes. ("Prosperity is just around the corner," you may recall, was the "dangling carrot" used also on the public during the Great Constipation of the 1930s.)

Those familiar with the censoring by the "Fed" of the M3 figures, which hitherto allowed Americans a glimpse of the actual increase in the money supply, can reportedly choose an alternative measure: MZM, the ready cash available. Congressman Paul claims MZM is now escalating at an annual rate of 20 percent. But beware: "they will increase their money supply, but they will make you concentrate on prices." It will be reported as the "Mysterious Inflation" of which "We know not whence it comes."

Ron Paul's outlook is grim. America will not come to its senses about the "Fed", he foresees, until the fiat dollar system finally crashes. Free market instincts already show how the dollar is being slowly abandoned in favor of the stock market, gold, and most anything counter-posed to the dollar. The victims of this monetary inflation will be the middle class and the poor. But those on the inside have "first use" of the inflating currency and know how the game is played. They, as usual in this rigged game, will be "sitting pretty."

Ayn Rand reportedly stated that if you wanted to know when a "society vanishes... watch money." Whenever "destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owner a counterfeit pile of papers." During the 1930s Great Constipation, the destroyers seized the gold. Then, in 1971, the destroyers abandoned the Bretton Woods system and there began the "fiat dollar" standard. That printing press scheme has now ended, according to Congressman Paul, but those in Washington "still believe this system can be salvaged. They are wrong, and dangerously wrong."

The economy is a natural force. But around 1913 some persons believed "central planning" would improve upon Mother Nature. A "monetary expansion began in December 1914 and America went through the first of many false booms." Always, Mother Nature reasserted herself, not impressed by the central planners. Stubbornly, the central planners enlarged their arsenals, yet always their house of cards blew over. "This time, we will build a bigger house of cards!" they exclaimed. But how big must the Tower of Babel become before the central planners are forced to admit that they are not God?