The Creature from Jekyll Island: A Second Look at the Federal Reserve

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In a letter accompanying the report, the Commission said it had created an institution “scientific in its method, and democratic in its control.” But many people, especially Democrats, objected to the version of democracy it presented, which could have allowed the largest banks to exert outsized influence on the central bank’s leadership. With a presidential election coming up, the Democrats made repudiating the Aldrich plan a part of their platform. When Woodrow Wilson won the presidency and the Democrats took control of both houses, Aldrich’s National Reserve Association appeared to be shelved. Griffin worked as a writer for Curtis LeMay, vice presidential running mate for George Wallace during his 1968 United States Presidential campaign. [5] Publishing [ edit ] Reason 5: It encourages war. The fiat monetary system of the Federal Reserve funded World War I, World War II, the Korean War and Vietnam War. Similarly, the Bank of England’s creation funded wars since 1694. Griffin argues that most of these wars would have either not occurred at all, or greatly reduced in severity, without the system of fiat money.

Shortly after returning home, Aldrich became ill and was unable to write the group’s final report. So Vanderlip and Strong traveled to Washington to get the plan ready for Congress. Aldrich presented it to the National Monetary Commission in January 1911 without telling the commission members how the plan had been developed. A final report, along with legislative text, went to Congress a year later with a few minor changes, including naming the new institution the National Reserve Association. Yeah. G. Edward Griffin somehow found a way to make the history of the Federal Reserve interesting. I learned a lot. I am realizing I have so much more to learn about finance and econ, and I am grateful to an author who can keep me wanting to listen to anything about them. He does a great job making this important knowledge not only easy, but enjoyable to digest. As for history: I've never read a book before that considered Bertrand Russell a member of a conspiratorial league bent on the absolute destruction of freedom before. The easy explanation is that he wasn't. Griffin also states that Russell was a Fabian Socialist. This isn't true. He also states that the Russian Revolution was an inside job organized by bankers to take over Russia. Also not true. United States National Monetary Commission. Letter from Secretary of the National Monetary Commission, Transmitting, Pursuant to Law, the Report of the Commission. Washington: Government Printing Office, January 8, 1912. https://fraser.stlouisfed.org/title/641, accessed on August 11, 2015.More importantly, this book purports to explain the American banking system, while somehow connecting it to the rest of the world (e.g. UK, Europe). Even if it was true, and since I'm no student of history I have no way of knowing so, I'm amazed and horrified at the America-centrism in the book. Does the world economy really revolve around America to the extent that shadowy financiers would gather round to try and chart it? I think the current economic situation proves not. The financial turmoil of the early 19th century led to the American Civil War: The symbiotic relationship between the North and South – the North sold goods to the South, and the South sold cotton to the North – came under pressure from European competitors who threatened the North’s share of Southern business. The South rebelled against Northern protectionist laws, and European powers favored dividing America for financial gain. Abolishing slavery became an afterthought in the North’s pursuit of war, a ruse to stir public sentiment for the conflict. The Knights of the Golden Circle, a clandestine group connected to the Confederate secret service, commissioned one of its members, John Wilkes Booth, to assassinate President Abraham Lincoln. “After the Civil War, the group went further underground and eventually emerged as the Ku Klux Klan.” The Creature Lives Today, war no longer keeps people patriotic and subjugated; instead, powerful interests use environmental concerns to subdue populations.

The book begins to tell a well-crafted story about the trip to Jekyll Island, but after a few minutes the story ends before the participants actually reach the Island. And it doesn't follow that with a story of what happened after that meeting. Only if the reader has the patience to reach the later chapters of the book will he, unexpectedly, find some of that story. Instead the book spends the rest of the chapter and the bulk of the book apparently trying to bash the "The Creature" with innuendo, straw man beating, sarcasm and guilt by association. Shortform note: While “Jekyll Island” might sound like something out of horror fiction, thanks to the famous novel Dr. Jekyll and Mr. Hyde, the island is a real place in the state of Georgia. It was named after an English financier long before the horror novel was written. Today the island is a state park.) Imagine that the United States decided to implement Griffin’s plan for abolishing the Federal Reserve. In this exercise, you’ll have a chance to contemplate how that might affect you personally. Sayre, Nora (1996). Sixties Going on Seventies. Rutgers University Press. p. 98. ISBN 0-8135-2193-9. In a wonderful lecture by G. Edward Griffin, slides and diagrams of triangles and arrows and circles show how the Conspiracy learned its techniques from the 18th Century Freemasons of Europe. ...Typically, the Federal Reserve is a government entity that frustrated high schoolers in America are forced to learn about before entering adulthood and forgetting exactly what it is or why it exists. The Fed is our central banking system that was created at the tail end of 1913 as a response to a string of financial crises. It is responsible for implementing the United States’s monetary policy, and is routinely and aptly described as “boring.” Urgently needed tax money for people, the environment, and infrastructure is used as risk capital for the makeshift patchwork of megalomaniacal financial constructs. Also, with freshly strengthened main players, the game starts again.

I'm only half way through, and am planning a 2nd listen so I can understand more of the intricacies of the monetary world. One of Griffin’s central arguments is that the Federal Reserve plays its part in an objective of global socialism. As world reserve currency, the Mandrake mechanism has international implications and plays a role in funding IMF and World Bank objectives. Warburg, Paul M., “The Defects and Needs of Our Banking System,” New York Times: Annual Financial Review, January 6, 1907, p. 14-15, 38-39.Where does The Creature from Jekyll Island rank among all the audiobooks you’ve listened to so far? The reason for secrecy was simple. Had it been known that rival factions of the baking community had joined together, the public would have been alerted to the possibility that the bankers were plotting an agreement in restraint of trade—which, of course, is exactly what they were doing.”

Great book, Scary, but great. If you have children you must read this book. If live in the USA, you must read this book. If you care about any person on this earth, you must read this book.This is a story about limitless money and hidden global power. The good news is that it is as fascinating as any work of fiction could be, and this, I trust, will add both pleasure and excitement to the learning process. The bad news is that every detail of what follows is true.” Eine spannende Chronologie der Ereignisse, die unter anderem die muntere Achterbahnfahrt der Finanzmärkte vor dem Abbiegen in die 90 Grad Abwärtskurse für Normalverdiener beeinflusst hat. Every so often I come across a book that for one reason or another I can't bring myself to finish. Though this book was one of them, I felt that I owed it to myself, as well as my Goodreads friends, to finish. It is a story that needs to be told. That being the case, I am breaking this what may be a rather long review into two parts. The first paragraph is a concise review that I hope you read, and if you are stimulated to read more, then read my review in its entirety. Beyond his allegation that it was created through a conspiracy and continues to be run by conspiracists who probably don’t have your best interests at heart, Griffin identifies several problems with the Federal Reserve System that would warrant its abolition in and of themselves, and not because of who’s running the system.