Our guest today advocates for ending the Federal Reserve. His article in the American Spectator has the subtitle of: "Any other business monopoly guilty of breaking Federal law and sowing economic destruction would immediately be shut down." Interested in what he has to say? Mind you, this is not some off-the-wall random comment, but a well thought out position by a Professor of Economics who holds a Ph.D. in the subject matter. One point our guest makes in his article is: "The Federal Reserve is the monopolist of all monopolists. It has the sole privilege of issuing bank notes accepted as legal tender in the United States. Defenders of the necessity of the Fed forget that money, as an economic good, can be produced competitively just us well as soft drinks, celery, shoes, gasoline, or smart phones. Just as we do not need a central shoe producer to ensure the optimal quantity and quality of shoes, we also do not need a central bank maintaining some supposed optimal money supply ensuring stable prices or magnitude of spending." Out guest makes the point that the Fed has miserably failed the charge it has been given by the Congress. Has the Fed maintained price stability during its almost 110-year tenure? No, it has not. The dollar has lost over 97 percent of its purchasing power since the Fed�s creation. The Fed has a legal mandate to promote stable prices, but, "the Federal Reserve explicitly targets a 2 percent rate of annual price increase." Therefore, the Fed is breaking the law. 2 percent is not stable. 0 percent would be stable. Our guest is Professor of Economics at Grove City College. Participants: Dr. Shawn Ritenour, Dan Elmendorf