Bob,
Clemenceau was and still absolutely correct!

Terry,
Thank you for the very brief breakdown of the book. I was already aware of Vic Sperandeo’s macro point of view from his other books but this seems to take it to a whole other level. I’ll look to tackle it this winter at some point.

The book is a story about politics and economics. It goes into the authors’ beliefs about the topics and centers around two main characters – Dominic Ancona, a self-learned trader (who I believe is based on Victor Sperandeo himself). The antagonist is Allen Stillwell, the chairman of the Federal Reserve.

The book is about a political movement to return the United States to constitutional government and a return to the gold standard. Along the way we see a lot of arguments for doing both. The antagonist, Stillwell, is an egotistical jerk who believes that he alone guides the US.

I liked the book, I ended up highlighting several of the passages in the book for later reading and plan to go through it again.

He nailed it. Sadly, the majority of people (I used to be one of them, not anymore) think the Fed is the white knight who “rescues” this country’s financial and economical systems every time we go through a crisis. The Fed is the problem, not the solution, as Milton Friedman once mentioned:

“Any system which gives so much power and so much discretion to a few men, [so] that mistakes — excusable or not — can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic — this is the key political argument against an independent central bank…

To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.”

Perhaps you would find the book “The Creature from Jekyll Island”, copyright 1994 and 1995, by G. Edward Griffin an interesting read. It is a documentary look at the Federal Reserve System.

Darin