Congressman Ron Paul delivered this Congressional lecture on “The Great Enabler: The Rise of the Federal Reserve and the Growth of Government.” The introduction was given by Senator Rand Paul. As a continuing educational tool this lecture was filmed and is provided to the public.
Congressman Paul explains in this lecture the Federal Reserve’s role as the enabler of big government. Through purchases of government debt, the Fed allows the government to spend beyond its means and contributes to the growth of the welfare-warfare state. If leviathan government is to be countered, understanding monetary policy and the fundamental role it plays in the relentless growth of government is a necessary first step.