The Federal Reserve
- The Federal Reserve IS NOT an agency of the government.
- It is no more “federal” than Federal Express.
- It is a Banking Cartel.
In the following video G. Edward Griffin, author of The Creature From Jeckyll Island expounds on his years of research into the secrets of the creation of The Federal Reserve and its workings.
- It is a group of very large and powerful banking interests who have gotten together with the government as a partner in order use the force of law to enforce the interests of the cartel.
- The government has virtually given them a monopoly to create & control the nation’s money supply.
- That power was granted to Congress in the Constitution. With the passage of the Federal Reserve Act on December 23, 1913 that power was
highjackedtaken away from Congress.
- The legislation was drafted in total secrecy by seven very powerful bankers at a private resort club on an island off the coast of Georgia.
G. Edward Griffin: What happened is the banks decided that since there was going to be legislation anyway to control their industry, that they wouldn’t just sit back and wait and see what happened and cross their fingers that it would be OK. They decided to do what so many cartels do today: they decided to take the lead. And they would be the ones calling for regulations and reform.
They like the word “reform.” The American people are suckers for the word “reform.” You just put that into any corrupt piece of legislation, call it “reform” and people say “Oh, I’m all for ‘reform’,” and so they vote for it or accept it.
So that’s what they were doing. They decided, “We will ‘reform’ our own industry.” In other words, “We will create a cartel and we will give the cartel the power of government. We’ll take our cartel agreement so we can self-regulate to our advantage and we’ll call it ‘The Federal Reserve Act.’ And then we’ll take this cartel agreement to Washington and convince those idiots there to pass it into law.”
And that basically was the strategy. It was a brilliant strategy. Of course we see it happening all the time, certainly in our own day today we see the same thing happened in other cartelized industries. Right now we’re watching it unfold in the field of healthcare, but at that time it was banking, alright?
And so the banking cartel wrote their own rules and regulations, called it “The Federal Reserve Act,” got it passed into law, and it was very much to their liking because they wrote it. And in essence what they had created was a set of rules that made it possible for themselves to regulate their industry, but they went even beyond that. In fact, it’s clear to me when I was reading their letters and their conversation at the time, and the debates, that they never dreamed that Congress would go along and also give them the right to issue the nation’s money supply. Not only were they now going to regulate their own industry, which is what they started out as wanting to do, but they got this incredible gift that they didn’t dream would be given to them (although they were negotiating for it), and that was that Congress gave them the authority to issue the nation’s money. Congress gave away the sovereign right to issue the nation’s money to the private banks.
And so all of this was in The Federal Reserve Act, and the American people were joyous because they were told, and they were convinced, that this was finally a means of controlling this big creature…… from Jekyll Island.
• source: Interview with G. Edward Griffin