Jekyll Island is off the cost of Georgia. In the early 1900 era, it was a magnificent privately owned retreat area. It is now state owned and has a museum with a room where one of the most secretive meetings involving American monetary policy was held.
This meeting took place largely in response to the House Banking and Currency committee's conclusion that the nation's banking and financial systems were in the hands of a "money trust." In the opinion of the committee, this money trust resulted in a "vast and growing concentration of control of money and credit in the hands of comparatively few men."
Here are the names of the people attending this history changing event:
Sen. Nelson Aldrich- Head of the National Monetary Commission
A. Piatt Andrew- Assistant Secretary of the Treasury
Frank Vanderlip- Pres. of National City Bank of NY
Henry Davison- Senior partner of JP Morgan
Charles Norton- Pres. of Morgan dominated First National bank of NY
Benjamin Strong- Board member of JP Morgan
Paul Warburg- Part of Kuhn, Loeb and Company investment firm
Side note #1- Remember those last two names as you read though this page. They will pop up again. Please also note the New York domination.
This group controlled about 1/4 of the world's wealth at the time of this gathering. The plan they hatched would be modeled after the central banks of Europe. Paul Warburg in particular, ( there is that name again), was well acquainted with the Rothschild banking lineage and the operations of the European big banks.
Out of this gathering on Jekyll Island, the nation's money supply was handed over to the banks and private companies that early American leaders like Thomas Jefferson advised against.
The former President stated that he feared central banks and their ability to manipulate interest rates for their own gain more than any standing army.
About twenty years later, some of the members of this group published their accounts of the event. In 1935 Paul Vanderlip wrote in the Saturday Evening Post, "I do not feel any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what would become the Federal Reserve System." He details the level of secrecy involved in the planning of this meeting. He even describes how he and Henry Davison called each other Wilbur and Orville, after the Wright brothers, " on the theory that we were always right."
They all laid the groundwork at Jekyll Island to craft a bill that was publicly announced to break the "money trust." But it was written by the very men who were that money trust. Kind of like hiring the the burglar to install your security system.
They crafted the name to convince the general population that this new plan was government controlled, had financial reserves, and was a system. They even put in safeguards to get the idea through their well-financed influence of Congress, knowing that they would be able to remove all the safeguards later. Which in fact was accomplished. And the result was the Federal Reserve Act of 1913. And who was the first chairman of this new entity? None other than Benjamin Strong. Kind of convenient?
Side note #2- Did you know that prior to being named Secretary of the Treasury in the Obama cabinet, Tim Geithner was head of the Federal Reserve New York branch. Those who don't learn from history are destined to repeat it.
G. Edward Griffin wrote a fantastic book entitled, "The Creature from Jekyll Island." This book is for sure a must read. Part of the problem with getting out the truth is that the factual accounts are not always taught in our schools. Keeping out the truth protects the status quo.
Mr. Griffin sheds light on the creation of this specific printing press machine that threatens us with one of the most dangerous types of thievery. Inflation robs us of buying power which systematically siphons away wealth and adds to the power of those soaking up that wealth.
So what are the big issues with this Federal Reserve bank? And remember, the FED is not federal, has no reserves, and is not a bank.
In the words of Mr. Griffin, it is in fact part of a cartel. How does it work? Here is the very short version. See if it sounds exactly like what is happening in Washington today.
Congress spends far more than they take in from tax revenue. So far exactly as what we see now. They go to the Treasury asking for more money. Of course there is none there. Congress already spent it. So together they visit the Federal Reserve bank.
The FED is happy to write out a $1,000,000,000 check, which is deposited in the Treasury. But where did that money come from in the first place? Thin air. Fiat currency, not real money. But the interest due clock begins right away. Interest due on magic money!
The check machines start up. Some of those checks go to the massive list of government employees. So an employee deposits part of that money. For easy figuring, we'll say $1000. And then through the magic of fractional banking, the big bank can loan up to $9000 on that single deposit. And begin to collect more interest.
This type of collusion needs to have benefit to both parties. Congress and the administration benefit by having access to unlimited currency to overspend as often as they wish. Without the FED, our government would have to raise taxes to cover their overages. How long would those people stay in Washington?
The book by Mr. Griffin will do a much better job expanding on this process. The company line of the federal government is that the role of the FED is to"stabilize the economy." Hmmm? Go back in history to see if that has been achieved.
The real goal of the meeting on Jekyll Island was to stop the erosion of power away from the the big New York banks. And to manipulate the markets to control interest rates to encourage borrowing from banks. And most importantly, to place any losses from the banks squarely on the shoulders of the American taxpayers. How many bailouts do you remember? Probably just the ones from the last few years? But there have been many more.
I'll leave the conclusion of the story for you to read in "The Creature From Jekyll Island." It is important that you read it and know where the plan is really heading and how well it is succeeding.
We only have the freedoms we can actually defend. And we need to draw a line now to defend our most basic freedoms. Standing armies are easy to visualize. Carefully crafted monetary policy is more devious and more dangerous.
Side note#3- Did you notice that the recently departed president asked for unlimited power to raise the debt ceiling whenever he saw fit? But as a junior senator from Illinois he called raising the debt ceiling a "failure of leadership."
We the people need to be vigilant and informed. And pro-active. Please check out our resource library. You'll find six incredibly insightful videos about the history of money. The resource library is located in the left margin of every page.
What do you think about this historic gathering?
"Click on the links below to see some other great contributions about Jekyll Island. They were all written by other visitors to this page."