The fact of the matter is, the Federal Reserve System, America’s so-called central bank, which by the way chose Federal as part of their name to imply they’re a department of the federal government (they’re not, they’re a private institution), chose to call themselves a “System” as opposed to a bank (because banks were hated and causing America’s boom-bust cycles at the time of the Fed’s creation), is ruining America.
The Creature from Jekyll Island
Most people have no idea that the Federal Reserve System was concocted by the most powerful bankers in the world and their emissaries on Jekyll Island, once a private enclave of the richest families in America off the Georgia coast back in November 1910.
The story of the creation of the Federal Reserve, arguably the greatest conspiracy in the history of the United States, is told in exquisite detail by G. Edward Griffin in his meticulously researched and impossible to put down book “The Creature from Jekyll Island,” originally published in 1994.
Read it here.
America’s biggest banks, mostly operating out of the Northeast, were threatened with insolvency in “The Panic of 1907,” which resulted from the New York Stock Exchange (the only exchange at the time) falling 50% the year before.
Banks had overleveraged themselves lending to speculators and trading in-house on thin capital bases with tiny reserves. When the market crashed, depositors ran to the banks to withdraw their money.
The six-week run on the banks ended when the most powerful and revered banker in America, JP Morgan, famously offered his unlimited support.
The Federal Reserve System was subsequently designed by the cabal of bankers whose banks were threatened in the Panic as well as JP Morgan, as a central bank, backed by the U.S. government, that could use unlimited Treasury credit to backstop any of their institutions if they were ever threatened with insolvency again.
Setting aside the intervening history of the intervening Federal Reserve, let’s fast forward to the financial crisis of 2008.
The Fed caused the massive speculative bubble that burst in 2008 by artificially manipulating interest rates too low for too long.
Then, of course, they had to come to the rescue of the biggest banks in America, who were all technically insolvent.
Who says history doesn’t repeat itself?
The Federal Reserve used to be called the lender of last resort, because they provided liquidity to faltering banks. Not all failing banks, mind you. All the big banks who own and control the Fed.
Other banks are allowed to fail so their businesses can be absorbed into ever larger too-big-to-fail Federal Reserve-backed banks.
Over time the Fed’s gotten bigger and bigger itself, with more power to print as much money as it wants and needs to backstop banks and manipulate the economy, to the benefit of its constituent banks.
In the process, they’re ruining America.
Our free markets aren’t free anymore, they’re manipulated by the Federal Reserve.
Our economy isn’t the bastion of individualism, entrepreneurship, and small businesses anymore, the Fed encourages size, because its constituent banks need to lend and transact in size to make the outsized profits they earn.
Our politicians are servants of the Fed, whose banking emissary lobbyists line their campaign troughs.
Our capitalist, democratic systems are all ultimately manipulated by the Federal Reserve.
They’re ruining America.
And it’s American citizens like you as investors and taxpayers that fill their checkbooks.
But some very smart Americans have discovered an investment that allows them to tap into a large portion of what is called the “Federal Rent Check”.
Folks are pocketing significant amounts of money enough to get over $100,000 each year in a monthly check straight to their door.
Click here to access to the greatest Federal loophole I’ve ever seen.
Next week I’ll tell you how easy it is to abolish the Federal Reserve System and what can replace it to better serve America’s economy and its citizens.