Rating: 
Summary: Required reading, though...
Review: Definitely one of the best books I've ever read. I concur with another reviewer who said that it explains central banking better than any college professor ever has.My only criticism (similar to Dale Franks') is that Greider's main grumble, i.e. that the Fed is mainly out to protect Money's interests, is a bit shallow. It's no doubt true that bankers and plutocrats lobby vigorously for higher interest rates, and that the Fed Chairman depends, at least to a degree, upon their support... But, realistically, how could the world be different? What system could possibly be better than the current compromise? I doubt Greider would seriously maintain that things would be better if the Congress ran the Fed, which would almost directly lead to an unstable currency. It's true that Volcker's medicine was harsh, but are we to imagine that bondholders could have been convinced to accept lower long-term interest rates by moral suasion or government promises? It's sad that the little guys suffer the most from high interest rates, but don't blame the Fed. Don't blame anyone! Still, though, with a book this great, Greider earned the right to make a political statement in the midst of what really is a set of difficult technical issues.
Rating:
Summary: An eye opening read!
Review: Greider presents a lively overview of the Federal Reserve System, illustrating its role in the global economy, and the global interests it serves. Greider presents a fascinating history of the Fed and banking system from the Populist uprising of the late 19th century to the global finance system we live in now. The book shows the truly immense power weilded by the Fed. EVERY AMERICAN SHOULD READ THIS BOOK!
Rating:
Summary: Opens a closed door
Review: Greider's book has a rare overriding virtue. It makes makes the unknown known. Few institutions are more remote and mysterious to the average citizen than the Federal Reserve Board. Yet few forces wield more year to year influence over our lives than this banking fraternity. The book is aptly titled. In 700 sometimes overlong pages, Greider traces the inner workings and history of the Board in terms that the average intelligent reader can comprehend. We see how decisions are weighted in favor of the have's over the have-not's. We see how interest rates can be manipulated to bring about certain results, such as damping down wages in the name of anti-inflation. We see how an unelected elite can exercise more direction over the nation's future than an elected president, as happened during the Carter administration. Is it desirable to invest such powers in a single board. Maybe. But first a goodly portion of the voting publicshould at least know what the issue is. Greider's book goes a long way in explaining the nature of the problem. I expect Greider is none to popular among economics professors for being a popularizer. But it's high time others like Greider started working that critical connecting ground between academic abstractions on one hand, and ordinary experience on the other. If you're reading this, you need to pick up the book.
Rating:
Summary: History, Economics and Social Behavior in perspective
Review: I couldn't believe what some of the previous readers thought about this book. I found it fascinating. The painstaking research alone is enough to make this book a tribute to the author's incredible insight on the subject matter. If you don't want to spend years studying finance, you should read this book, and you'll be able to knock heads with any MBA. As another reader commented before me, I learned more from this book than I did from 4 years of Economics study in college. If the length of this book scares you, well then, what can I say...
Rating:
Summary: If you could read only one book in your life, this is it !!!
Review: I didn't know much about politics before I read this book, now no body can fool me! The sad thing is an average America is not going to read this book.
Rating: 
Summary: Don't get this book.
Review: I hated the book. I thought it was the most boring book and a waste of time. There were to many pages. When Iwas reading it I couldn't wait to put it DOWN!
Rating: 
Summary: Good
Review: I have only used this book as reference, even though it is intended to be read as a regular text. It is fairly well written with some indepth coverage of the FED (mainly in the 1980's).
Rating:
Summary: Disappointed
Review: I suspect if you have liberal inclinations you will love this book; if you're a conservative you'll probably be disappointed. I had high hopes of understanding some of the mechanics of the fed, but found the material vague and scattered. The endless collection of opinions was tiring. If you believe inflation is caused by printing money ask yourself after you've read the book if you can draw that conclusion. If you don't believe it ask yourself how a house that cost $20,000 in the sixties now costs $120,000. How's that possible unless more money was printed? 700 plus pages was simply too much to digest for my tastes on a topic that in my opinion boils down to printing too much money.
Rating:
Summary: Was blind but now I see
Review: I thought I was reasonably well educated but now see that I was clueless how the U.S. monetary system works. This book explains the stagflation, inflation, recession all the baby boomers have suffered through in their adult lives as well as the current boom. It is enlightening, if not frightening, to learn that what the Fed does, not what Congress or the President do, governs our properity, the extent to which our economy and unemployment rate is manipulated and just how little democracy is involved in the process. A course on this subject should be required reading from high school up and everyone of our political candidates, Senators and Congressmen should read this book. It is particularly timely now, given the current aspirations of the Fed to slow the American economy, whether the rest of us like it or not.
Rating:
Summary: One of the very best books I've read in my life
Review: I'm not going to recap the book contents; others, who have read the book more recently, can do a better job of that. I will tell you, instead, about its long term impact. It's been probably fourteen years since I read _Secrets_of_the_Temple_ and it still haunts me as one of the most important, most influential books I've read in my 46 years of life. The common beliefs that the Fed is near infallible, that it always knows what it is doing when it takes action, and that 80 years since the last Depression is proof that the Central Bank will always pull us through are more mistaken than most people would believe. Reading the history of Central Banking will open your eyes considerably, I think. Oh, yes, and this book is actually a pleasure to read -- it's that smoothly written.
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