These are only a few of the startling facts that fill the pages of this illuminating expose of the Insider scam called The Federal Reserve System (Fed).
Although author G. Edward Griffin admits to having wondered if another book on the Federal Reserve is necessary (his six pages of bibliography suggest that the subject may have previously attracted attention), it is unlikely that any book has ranged across 2,000 years of money and banking from Diocletian to the Rothschilds to Alan Greenspan - and tied it into the new world order - as thoroughly as The Creature From Jekyll Island.
Thus the reader is kept in touch with where he has been and where he is going, an ingenious and helpful device considering the enormous scope of Griffin’s narrative.
Griffin continually draws documentation from primary sources, quoting letters, speeches, and published works that both enlighten and horrify. His own writing is difficult to quote; it is so trenchant that nearly every sentence entices. Yet at the same time Griffin has mastered the art of speaking personally to the reader, who never loses the feeling of being directly addressed.
All this adds up to a superbly clear, engrossing book
that, once started, is impossible to put down.
We are given a crash course on the nature of money; the origin of banks and the concept of fractional reserves; how this led to the seductive idea of using the same money over and over; how this inevitably led to economic disaster wherever and whenever tried.
We are instructed about the Rothschild formula, which perfected the art of making enormous profits from loans to governments, especially for wars; how this led to preventing any one nation from becoming strong enough to establish peace (the famous balance of power); how those who could instigate wars or revolutions were financed (including the Bolsheviks in 1917); how we Americans were sucked into World War I in order to save J.P. Morgan’s loans to England; how environmentalism is now the weapon of choice replacing war.
We are told how this same tool has been expanded internationally through the International Monetary Fund (IMF) and World Bank in order to create worldwide inflation, pay enormous sums of perpetual interest on never paid-up loans to Insider banks, and socialize the Third World, all courtesy of us unsuspecting taxpayers.
Lastly, Griffin foretells our dismaying fate if our course is not altered; then he lays out a step-by-step procedure of how to alter it, inviting us to join with him in doing so.
Griffin looks the Fed “creature” straight in the eye and tells us it is not federal, it has no reserves, and it is not a bank. It is, in fact, a pernicious cartel operating against the public interest. The widespread belief that the Federal Reserve exists to “stabilize the economy” is hogwash; the real reason for its existence is the making of money - not out of “thin air” as is commonly supposed, but, more accurately, out of debt.
Griffin explains that,
Griffin takes us through the Open Market steps by which Treasury IOUs (bonds) are inverted by the Federal Reserve into money through the issuance of Federal Reserve checks with no money in existence to cover them; anyone else doing this would go to jail. Congress has made this legal for the Fed, however, because this hidden process allows our congressmen to enjoy unlimited revenue without having to visibly raise taxes.
Without
this service, says Griffin, the monetary/political
partnership would dissolve, and Congress would abolish the Fed.
Recipients deposit these checks into commercial banks that are part of the Fed system. Here is where the real inflationary action is. (The Federal Reserve holds “only” seven percent of the national debt of almost $5 trillion. The 12 percent held by foreigners and the 56 percent held by Americans are not inflationary because the money used for purchase already existed.)
For instance, $1 million in government money (first wave) to $900,000 (second wave), which gives birth to $810,000 (third wave), etc., until the process plays itself out. Thus, the banking cartel creates an amount of money that is nine times the amount of the original government debt that made the process possible.
As Griffin puts it:
Griffin is astonished at the public’s indifference to this fleecing; he blames it on ignorance based on disinformation.
Nothing could prove him more right than the current deception that inflation is higher prices caused by full employment and a strong economy; therefore, letting the "steam" out of the economy and slowing growth (and thereby employment) is “good.” This talk is madness.
Alan Greenspan, chairman of the Federal Reserve (who has the temerity to say he is “worried about inflation”), is repeating this claptrap as he pretends to control inflation by increasing interest rates that merely devastated the bond market, clobbered the stock market, and helped only the bankers. Thus the Insiders are perfectly protected and the scam rolls on.
Understanding the Game
Here it is in a nutshell:
So, says Griffin,
Sure enough; pretty soon default threatens.
The bank creates additional money out of nothing and lends that so its interest stream continues on both the original loan plus the new loan (the “roll-over” play). At the next crisis, the bank creates still more money out of nothing to cover the interest on both loans plus an additional amount for the borrower to spend freely (the “up-the-ante” play). Finally the bank agrees to a lower interest rate and a longer period for repayment (the "rescheduling" play).
Eventually it is time for the “Final Maneuver.” Congress agrees to guarantee future payments and the whole mess is shifted to the backs of U.S. taxpayers while the borrower is trapped into an IMF “austerity” program that makes an “end run” around his sovereignty.
The American people, says Griffin, have no
idea they are footing the bill to enrich the Insider bankers.
So clearly did our Founders understand and fear worthless paper money forced on the public by legal tender laws (precisely what we now have) that they filled the proceedings of the Constitutional Convention with statements of their horror of it.
We Americans today, deprived of hearing such truth, need to listen to their words:
Griffin does not stop with presenting the known picture, but projects today’s reality into the future. His first projection is a doomsday scenario his second is a realistic plan for saving our country and ourselves. These chapters might, after all, be the most important ones in the book.
From this point on, writes Griffin, there will be no escape from the new world order. At present the U.S. is being deliberately weakened by seemingly insane spending both at home and abroad: As just one more dismaying example, during President Clinton’s recent trip to Europe he blithely promised more billions of dollars to Poland, Ukraine, and the Baltic countries.
The name of the game is to spend on
anything, anywhere. The object is to bring down the
system.
Griffin spells it out from the words of the Insiders themselves. One source is the 1966 secret Hudson Institute study commissioned by Defense Secretary Robert McNamara, entitled Report from Iron Mountain. This study cold-bloodedly discusses various means by which government might control the populace and perpetuate itself in power in the absence of war (UN peace).
War is used to make the masses put up with all kinds of privation, taxation, and controls without complaint. No amount of sacrifice in the name of victory is rejected. Resistance is viewed as treason.
In this case, what could be a substitute for war?
Credibility is the key, not reality. Griffin writes that Report From Iron Mountain explains the avalanche of phony scientific claims that are uncritically publicized by the Insider-controlled media, as well as the funding of environmental "crazies" by corporations and businesses that would appear to have the most to lose. He sees the plan as being brilliantly successful.
Just as no sacrifice is too great in time of war, what happens to the economy or our freedom is of no consequence "when the very planet on which we live is sick and dying."
Reading this section will forever change the way in which you view government.
Yet, says Griffin, this perverted, power-mad Insider fix need not prevail. None of these dreadful things needs to happen. He outlines a procedure by which the Federal Reserve can be abolished, the national debt paid, and the country returned to a sound monetary system based on silver and gold.
All that is needed are the efforts of concerned and caring Americans. Griffin invites us to join him in freeing ourselves from the one-world conspirators.
It
can be done.
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