The Creature From Jekyll Island Author: G. Edward Griffin | Language: English | ISBN:
0912986468 | Format: PDF
The Creature From Jekyll Island Description
- Hardcover: 608 pages
- Publisher: American Media; 5th Edition edition (2010)
- Language: English
- ISBN-10: 0912986468
- ISBN-13: 978-0912986463
- Product Dimensions: 9.1 x 6.3 x 1.8 inches
- Shipping Weight: 1.6 pounds
This is the most important economic textbook since Marx wrote Das Capital. Whereas Marx goes great lengths explaining all the problems concerning the *production cycles* of capitalism, Griffin explains the *money supply* side. And this ends up being even more disturbing. Griffin explains that money is created "out of nothing", worse even, out of "less than nothing", out of DEBT. Whenever the government is in need of money, they "lend" it to the Federal Reserve, which, by the way, isn't a government institution, but a cartel of private banks, invented by the Rockefeller and Morgan families in Jekyll Island in 1910 and established by Congress in 1913. This Fed "creates" the money the government needs in the form of government bonds, ultimately made out of "paper and ink". Government then spends this money (payment to contractors etc.) and this money ends up as deposits in private bank accounts, where it is used in turn to back up private loans. More money is created "out of nothing", since banks typically lend 9 dollars for each dollar they have in deposit ! As you can see, all money is created out of debt. Would all debts be paid, all money would literally... disappear... Money which is not backed up by gold is thus an illusion.
Now, governments do all what is in their power to be indebted. Remember Bush and Obama rescued "Banks Too Big To Fail" (sic) and other Big Corporations, each time with more than 700 billion USD, without even raising taxes ! They even did better ! They lowered taxes at the same time ! Ever wondered how they perform this fascinating trick? Read this important book. Griffin shows that recollecting taxes isn't really necessary. But we DO end up paying those bills, every time government decides to "create money out of nothing". Don't be mistaken.
What exactly is the Federal Reserve (or "Fed," for short), and what exactly does it do? Where does our money come from? What do banks actually do? Very few Americans - including (perhaps especially) our puppet political leaders - can accurately answer these questions. G. Edward Griffin skillfully gives you all the shocking answers in this book.
Griffin writes very well and manages to make subjects as supposedly arcane as money and banking into things that any literate layman can understand. Besides the complete history of the Fed, Griffin also provides some general history of banking and money which puts it all in context. As a historian, I can tell you that his facts are mostly spot-on, as are his economic analyses. Griffin cites the sources and quotes people to back up most of his claims. Furthermore, to his credit, on the few occasions in the book when he does speculate or theorize, Griffin makes it clear that he is speculating or theorizing - unlike many other authors.
This is not just dry history, though - Griffin clearly has a point of view, and it's decidedly anti-Fed. Here are his reasons for wanting to abolish the Federal Reserve:
1. It is incapable of accomplishing its stated objectives (which are basically moderating the business cycle and maintaining a stable dollar - it has clearly failed on both counts.)
2. It is a cartel operating against the public interest.
3. It is the supreme instrument of usury.
4. It encourages our most unfair tax (ie, inflation.)
5. It encourages war.
6. It destabilizes the economy.
7. It is an instrument of totalitarianism.
The things that are happening in our economy and government today may not seem to make much sense - until you read this book.
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