The Creature from Jekyll Island (1994)
Author: G. Edward Griffin
No, this is not some kind of sci-fiction about a radioactive exposed and mutated creature that lurks in the vicinity of Jekyll Island. This book is, of the non-fiction variety, and it talks about our banking system. In fact, it tells of the devious manner that it operates. It was on this island that the monster called Federal Reserve System was created.Jekyll Island is a real island off the coast of Georgia. In 1910, a group of seven individuals of politicians and bankers gathered in a holiday resort to discuss the future of banking in America. Together, they possessed a quarter of the world's wealth then. Earlier, at the beginning of the century, Americans had become wary of their banking system and did not trust bankers to handle their money. The purpose of this extremely secret meeting was to create the blueprint of the Federal Reserve System. Note the absence of bank in its name and the authentic sound of its title. At one look the intentions look noble, but when we scrutinise its whole setup, we can smell a rat. The entire operation was shrouded in secrecy as the American public wanted the bankers to be the last person given the responsibility of taking care of their money. In the not-so-distant American past then, many financial institutions had sprung up and followed in the line of customers being fleeced off their hard-earnings.
It was a covert operation for a group of European bankers, who had links with magnates like the Rockefellers, Rothschilds and JP Morgan and had a stronghold in the dealings of the world economy. Despite America's previous bad experiences with unregulated paper money, the USA decided to follow the very same path. That was the beginning of fiat money where wealth is made out of thin paper with no intrinsic value to the currency. It was built on the trust that people would take the money for its face value. It operates under the assumption that the public would not, all at once, demand back their deposits in cash.
The setup is like this. When the Congress needs money, it goes to the Treasury. The Treasury would not have money. Together, we would march to the Federal Reserve System (FRS). The FRS would issue a cheque for a certain sum (of money that it does not have). This paper money makes its way to the banks to be loaned. The banks can loan out up to 90% of the funds it received (which is non-existent) to customers who would repay with interest. In other words, the lay people are taxed to work to pay for the money that was created from nothing to run the whole system. The by-product of this entire exercise to finance the banking system and to fatten bankers.
Every now and then, the whole bubble would go burst when inflation sets in as the value of money dwindle as there is a lot of money circulating. To offset this, the banking system makes the taxpayers pay more taxes or decrease the interest rate for them to borrow more. The whole setup is based on credit.
The author, G. Edward Griffin, is a renowned conspiracy theorist who goes on to link the operation of the FRS to many of mishaps that happen around us. War and political upheavals spur economic activities which are, of course, beneficial to the bankers. Loans need to be taken.
Even as early as the American Civil War, financiers had the bad habit of financing both sides of the warring factions. In their mind, they are not tied down to nations but were citizens of the world. The Russian Revolution did not solely happen because peasants raised their sickles against the Tsar. Their course was partially finally sponsored by German bankers who wanted the Russians to be weak to defeat them. The Americans brought in aid under the guise humanitarian effort through the Red Cross to fund rebels. The financiers sponsored Trotsky, the Menshevik and even the Bolshevik to cripple the Russians. The sinking of Lusitania by the German U-boats marked the entry of the USA into World War 1. It was no mere coincidence that the cruise ship was hit. It entailed an elaborate plan of the bankers' interference in intercepting newspaper advertisement, false declaration of goods and blocking of navy communications.
As known to us, FRS through their lackeys, the World Bank and IMF, are quick to write off loans of despotic third world regimes by giving them more notable credits with a more extended tenure of repayment to make these countries eternally in debt. The biggest losers are the citizens who become debtors for generations altogether.
Loyalty is an alien to the bankers. Money, business, wealth and power is all that matters. The strategy of putting up a two-faced appearance go on all through time. They were around at the time when Germany was gung-ho in arming themselves to the teeth and going gangbuster into industrialisation. At a time midway through World War 2, they syphoned off legally gold to Europe to improve their economy. They support dictators in the modern era.
The Federal Reserve System has grown too large for comfort. The author proposes that it should be abolished as it runs like a cartel working against the public interest, advocating extreme usury, generates unfair tax, destabilises the economy, encourages war and is an instrument of totalitarianism.
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| The Seven Members of Jekyll Island |
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| A satirical cartoon of 1848 depicts "Rothschild" pondering over which of Europe's rulers to favour with loans, while revolutionaries challenge the ancient order he is supporting. |
