The Creature from Jekyll Island | G. Edward Griffin

Summary of: The Creature from Jekyll Island: A Second Look at the Federal Reserve
By: G. Edward Griffin

Introduction

Embark on a captivating exploration of ‘The Creature from Jekyll Island,’ where you’ll discover the secrets behind the inception of the Federal Reserve and the clandestine maneuvers that shaped its formation. Delve into this book’s analysis of the motives for creating a central banking system, the impact it has had on society, and the well-laid schemes of the powerful individuals involved in its operation. With eye-opening revelations about the Fed’s role in economic booms and busts, monetary policies, and more, prepare to question everything you know about the central banking system and its influence on global events.

The Secretive Plot

In 1910, six men with immense wealth, including a senator, assistant secretary of the US Treasury, and four bankers, secretly met on Jekyll Island to discuss the creation of a central bank. The group aimed to control competition from newer banks, gain the ability to create money out of nothing, and have control over the reserves of all banks. They intended to transfer the losses of reckless banks to taxpayers while convincing Congress that their motive was to protect the public. This meeting resulted in the formation of the Federal Reserve System.

The Dark Side of the Federal Reserve

The Federal Reserve System, established in 1913, is a misnomer that operates against public interest, destabilizes the economy, generates inflation, and encourages war. This legal private monopoly of money supply is a supreme instrument of usury that hurts the poor, middle class, and workers. Moreover, the Fed manipulates the money supply and works against natural laws of supply and demand, leading to boom-and-bust economic cycles. The Fed also makes possible global organizations such as the International Monetary Fund and the United Nations, all precursors of a one-world government that supports dictatorships and socialist states.

The Threat of Socialism

America is facing an attack from those seeking to implement a socialist order. Government programs and banking schemes were created during the Great Depression as a result of “government paternalism.” The Bretton Woods Conference of 1944 brought together “Fabian socialists and communists” to establish a world order with a world currency, central bank, and control over all nations’ economies. The Federal Reserve is considered one of America’s most dangerous creatures by some. President John F. Kennedy was a strong proponent of global socialism, advocating for wealth redistribution from the richest to the poorest. The Council on Foreign Relations (CFR) serves as a launchpad for elite individuals who wish to control the US government, banks, universities, and media. The CFR advocates for monetary system convergence through institutions such as the IMF and World Bank, trade agreements like NAFTA, and the inclusion of China and Russia in global institutions. According to the book, communism’s fall in the 20th century was a “Great Deception” in which communist leaders ceded social freedoms to their citizens to retain control and appease the West, allowing socialist nations to receive significant investment capital.

Banking and Military Conquests

The Bank of England was created in 1694 to help finance Britain’s military pursuits. In the 19th century, the Rothschild family played a significant role in financing governments in Europe and dictating to political leaders. Napoleon Bonaparte refused to borrow from the financiers and established his bank to finance his military campaigns. As bankers financed various military conquests, both winners and losers became indebted to financiers in Europe and America, notably J.P. Morgan. During World War I, the House of Morgan became a purchasing and shipping agent for war materials. Morgan-controlled media trumpeted for US intervention, and Wall Street financed the 1917 Bolshevik Revolution in Russia. Throughout the 20th century, leaders advocating social democratic values came from factions such as the American Round Table, whose offshoot, the CFR, is “the most powerful group in America today.”

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