G. Edward Griffin's "The Creature from Jekyll Island" reveals the hidden origins of the Federal Reserve
- In November 1910, powerful financiers including Senator Nelson Aldrich, Wall Street elites and a Rothschild representative met secretly on Jekyll Island to draft the Federal Reserve System, concealing their plans from public scrutiny to avoid opposition.
- The Federal Reserve was designed as a private banking cartel, not a government institution – allowing elite bankers to control the money supply, eliminate competition and profit indefinitely by creating money "out of nothing."
- The Fed artificially expands the money supply by purchasing government debt with unbacked checks, while fractional-reserve banking lets commercial banks multiply this money, fueling inflation and eroding currency value.
- Fed policies are linked to major crises (e.g., the Great Depression, 2008 crash) and enable unchecked government spending (e.g., wars). Its influence extends globally via institutions like the IMF, reinforcing elite control.
- G. Edward Griffin proposes replacing the Fed with a gold/silver-backed system, urging public awareness and systemic change to break cycles of inflation, debt and economic instability.
In the realm of financial systems, few institutions are as shrouded in mystery and controversy as the Federal Reserve. A cursory glance might reveal it as a staid, bureaucratic entity. But delve deeper, and you uncover a web of intrigue that rivals any modern thriller.
Enter "
The Creature from Jekyll Island" by G. Edward Griffin. This book strips away the layers of opacity to reveal the Federal Reserve's true origins and impact on global economics.
The story begins in November 1910, on a remote island off the coast of Georgia – Jekyll Island. Under the guise of a duck-hunting trip, a group of the world's most powerful financiers convened in utmost secrecy.
Among them were Sen. Nelson Aldrich (R-RI), J.P. Morgan's right-hand man Henry Davison, and Paul Warburg, a representative of the Rothschild banking dynasty. These men, collectively owning a staggering one-fourth of the world's wealth, were on a mission to create a blueprint for what would become the Federal Reserve System.
The secrecy was paramount. If the public had learned of their
plan to form a banking cartel, it would have been met with vehement opposition. Therefore, the elite attendees took every precaution – traveling in a private railway car under the cover of darkness and using aliases to conceal their identities, even from the servants who attended to their needs.
The goal of this clandestine gathering was clear: to create a cartel that would eliminate competition, control the money supply and leverage the power of the government to enforce their agreement. The system they envisioned would allow them to create money out of nothing, lend it to the government and the public, and collect interest perpetually. This was not just a financial strategy; it was a geopolitical coup.
Fast forward to 1913, and the Federal Reserve Act was passed into law. However, the Federal Reserve was neither federal, nor did it hold reserves, nor was it a bank in the traditional sense. It was
a cartel, masquerading as a government agency.
The architects of the Federal Reserve crafted a system that appeared decentralized but was actually controlled by a powerful Federal Reserve Board in Washington.
The process by which the Federal Reserve creates money is known as the Mandrake Mechanism, named after the fictional Mandrake the Magician. Under the mechanism, the Federal Reserve buys government bonds and other debt instruments, paying for them with checks that have no money in the account to back them up.
This creates money out of thin air. The government then spends this newly created money, infusing it into the economy. However, the real magic occurs when commercial banks get involved.
Thanks to the fractional-reserve banking system, banks are required to keep only a fraction of their deposits in reserve, allowing them to lend out far more money than they actually have. When the Fed creates new money, banks can multiply it by up to nine times through the process of lending.
This expansion of the money supply leads to inflation, eroding the purchasing power of currency over time.
The repercussions of the Federal Reserve's policies are evident in the economic cycles that have plagued the U.S. for decades. The Great Depression, the stagflation of the 1970s, and the financial crisis of 2008 can all be traced back to the Fed's manipulation of the money supply.
Beyond economic fluctuations, the Fed's ability to create money has enabled the government to wage wars without raising taxes. In this way, conflict becomes a profitable enterprise for bankers and politicians.
The Fed's influence extends globally through institutions like the IMF and the World Bank, where it has used American wealth to prop up corrupt regimes and fund socialist experiments. It has created a global financial system that benefits the elite at the expense of the masses.
Griffin argues that the solution lies in abolishing the Federal Reserve System and transitioning to a sound monetary system based on precious metals. He outlines a sixteen-step plan to achieve this, including repealing legal-tender laws, freezing the supply of Federal Reserve Notes, and issuing new currency backed by gold and silver.
While this proposal may seem radical, Griffin contends that the current system is unsustainable. Fundamental change is necessary to break free from the cycle of boom and bust, inflation
and government debt, he adds.
"The Creature from Jekyll Island" is more than just a historical exposé; it is a call to action. Griffin challenges us to question the assumptions that underpin our financial system and to consider the possibility that there is a better way.
Whether you agree with his conclusions or not, his book is a vital contribution to the ongoing debate about the role of the Federal Reserve and the future of our economy. As we unravel the layers of secrecy and power, it becomes clear that understanding the Federal Reserve is crucial for anyone seeking to navigate the complexities of modern finance.
Watch this video about G. Edward Griffin's book "The Creature from Jekyll Island."
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