End The Fed?

by Erik Pavia
April 25, 2009

New concerns among citizens about the power of the Federal Reserve have stemmed efforts to increase the oversight that Congress has over the Fed’s operations. These efforts have been spear headed by Texas Congressman Ron Paul. Ron Paul has introduced several bills to increase government control on the Fed’s activities. One bill goes as far as to propose that the Federal Reserve be abolished. Ron Paul has developed a following online, with groups with similar ideals arranging signature gatherings and protests. On April 25th, one movement, coined “End the Fed,” had groups meet in front Federal Reserve branches across the country to voice their opposition to the existence of the Fed.

“The Fed is the single most pervasive problem affecting every American, every age, race, and every socioeconomic status in the same way. It burdens us with tyrannical excesses of a small, elite class of people who view themselves as superior and intend to rule rather than serve,” said Matt Sistrunk, organizer of the group protesting in front of the El Paso branch of the Federal Reserve Bank of Dallas. Sistrunk, a West Point graduate and former Army Captain with 11 years of service, said he started questioning certain “status quo belief systems” in 1996, and has been active in working to enlighten the masses and to mobilize them to bring America back to the people by restraining government with constitutional rule of law ever since.

Although the Federal Reserve has been around for almost a century, Sistrunk, the other protestors, and those involved with the End the Fed movement do not think the Fed is necessary for economic stability. “That’s a lie. They create the crisis they claim they’re protecting us against. It’s an example of creation-reaction-solution. They create a problem, get a reaction, and install a prepared solution. They create slavery through the control of money supply. The government gives them the power to counterfeit money, something that if you and me did, we would go to jail.” The sentiment that the Federal Reserve has an ulterior agenda seems to be a unifying concern for members of the “End the Fed” movement. The introduction to a magazine posted on endthefed.us as educational material to be redistributed by group members says that “the Federal Reserve Bank and its owners are bringing to a conclusion the planned implosion of the financial economy of the United States.”

Despite all of the provocative language, Saturday’s protest was very peaceful. Federal Reserve security commended End the Fed’s orderliness and cooperation. “Oh yeah, the leader, he’s really good at keeping everything calm and in order.”

“This is completely peaceful,” iterated Sistrunk, “We want to achieve heightened awareness. We want to mobilize action. We want to equip people with the informational tools needed to affect their spheres of influence.”

End the Fed wants to abolish the Federal Reserve, but they think it will take several steps to get there, starting with an audit of the Federal Reserve’s records. “That’s the first step, auditing the fed. That falls under HR1207 which currently has [55] cosponsors. This audit will give a detailed look at the Fed, and it will uncover all of their secrets. Americans will no longer tolerate the Fed’s presence. The Fed is absolutely criminal.”

Besides their nationally based goals, the El Paso Campaign for Liberty Meetup Group has some plans locally as well. “We want to build a political machine made of people who support the constitution. We don’t want to fall into the typical paradigm of divisive politics,” Sistrunk said enthusiastically “We want anyone who loves our constitution. We’re looking into electing a few guys into city council and maybe a sheriff in 3 and a half years.”

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Erik Pavia

Pavia is a senior Economics major at the University of Texas at El Paso. He is a member of the Regional Economic Development Association. He plans to attend law school after receiving his BBA.