Show Notes: Snow From The Big Chair

the mighty humanzee
By The Mighty Humanzee

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We are going on a hike, and will also discuss the book The Creature From Jekyll Island.

Hamilton’s Legacy

The Founding Fathers warned us of the power of banks.  Jefferson opposed Hamilton’s creation of a national bank.

https://www.monticello.org/research-education/thomas-jefferson-encyclopedia/private-banks-spurious-quotation/

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…. I believe that banking institutions are more dangerous to our liberties than standing armies…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

The Creature From Jekyll Island

This book was published in 1994.  It had a great influence on me, as it imparted a good back ground on the weakness of fiat currency.  The book covered the history of money, and relayed that gold as currency held it’s value for hundreds of years.

G. Edward Griffin’s “The Creature from Jekyll Island: A Second Look at the Federal Reserve” is a lengthy and controversial book that argues that the Federal Reserve System (the Fed) is a powerful and secretive institution that has deliberately undermined the American economy and freedom for the benefit of a powerful, unelected elite. Here’s a summary of its key arguments:

Core Thesis: The book argues that the Fed is not a neutral, beneficial institution but rather a carefully orchestrated scheme created by wealthy bankers on Jekyll Island in 1910 to seize control of the U.S. monetary system. This control, Griffin claims, allows them to manipulate the economy for their own profit and power.

  • The Secret Meeting on Jekyll Island: Griffin details the clandestine meeting of prominent bankers and government officials on Jekyll Island in 1910, where he argues the plan for the Federal Reserve was hatched. He claims this meeting was held in secret to avoid public scrutiny and debate.

  • The Creation of the Fed: The book alleges that the Federal Reserve Act of 1913, which established the Fed, was deliberately written to obscure its true purpose and give immense power to private bankers. Griffin argues it was essentially a private banking cartel masquerading as a public institution.

  • Fractional Reserve Banking: The book heavily criticizes the practice of fractional reserve banking, where banks loan out more money than they have in deposits. Griffin argues this system is inherently inflationary and allows banks to create money out of thin air, essentially a form of counterfeiting.

  • Inflation and the Business Cycle: Griffin claims the Fed’s manipulation of the money supply is the primary cause of inflation, boom-and-bust cycles, and economic instability. He argues the Fed intentionally creates these cycles for the benefit of its banking members.

  • Debt and Government Control: The book argues that the Fed’s manipulation of the money supply leads to excessive government debt, making the government beholden to the banking system. This debt, in turn, allows the bankers to exert further control over society.

  • Loss of Freedom: Griffin contends that the Fed’s actions, including inflation and economic manipulation, ultimately erode individual freedom and liberty, leading to greater government control and a decline in the standard of living for the average citizen.

  • International Bankers Conspiracy: Throughout the book, Griffin suggests that the Fed is part of a larger conspiracy by international bankers to establish a global financial system and ultimately a one-world government.

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